Kodiak Sciences Inc · NASDAQ:KOD
Kodiak Sciences — Investor Day (September 2024)
186 slides from Kodiak Sciences's investor day presentation, Sep 23, 2024
Slide 1: Investor R&D Day
INVESTOR R&D DAY September 23, 2024 KODIAK
Slide 2: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS These slides contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 2IE of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. These forward-looking statements are not based on
Slide 3: Kodiak
KODIAK W) %G uu = Pay Os Va we Se 7
Slide 4: Kodiak's Leadership Team
KODIAK’S LEADERSHIP TEAM Victor Perlroth, MD John Borgeson Dolly Chang, MD, MPH, PhD Almas Qudrat, M.Sc Wayne To, M.Phil Chairman and CEO Chief Financial Officer Chief Scientific Officer Chief Quality Officer Chief Technology Officer ‘@ Pablo Velazquez-Martin, MD Laurent Ducry, PhD Hong Liang, PhD S
Slide 5: Management Attendees
MANAGEMENT ATTENDEES ry Victor Perlroth, MD John Borgeson Dolly Chang, MD, Almas Qudrat, M.Sc Pablo Velazquez- Chairman and CEO Chief Financial MPH, PhD Chief Quality Officer Martin, MD Officer Chief Scientific Officer Chief Medical Officer KODIAK
Slide 6: Guest Speakers: Key Opinion Leaders
GUEST SPEAKERS: KEY OPINION LEADERS David Brown, MD Clinical Professor of Ophthalmology, Baylor College of Medicine Director of Research, Retina Consultants of Texas Chair, Medical Leadership Board, Retina Consultants of America Charles Wykoff, MD, PhD Clinical Professor of Ophthalmology Weill Corne
Slide 7: Agenda
AGENDA Why Kodiak? Science of Durability Science of the Enhanced Formulation Roundtable Discussion Audience Q&A Clinical Prog Overview The Kodiak Opportunity Roundtable Discussion Audience Q&A ABCD Platform Preview Summary and Takeaways Audience Q&A Victor Perlroth, MD Chairman and CEO David Brown,
Slide 8: Agenda
AGENDA Why Kodiak? Science of Durability Science of the Enhanced Formulation Roundtable Discu Clinical Program Overview The Kodiak Opportunity Roundtable Discussion Audience Q&A ABCD Platform Preview Victor Perlroth, MD Chairman and CEO David Brown, MD David Brown, MD Moderator: Victor Perlroth, MD
Slide 9: Why Kodiak?
WHY KODIAK? KODIAK
Slide 10: We believe Kodiak is primed for near-term and long-term success
We believe Kodiak is primed for near-term and long-term success Agile R&D Mindset We have made key course corrections and implemented them into late-stage studies Kodiak’s late-stage ABCD pipeline activities showcase our design, manufacturing and drug development capabilities Our emerging ABCD Platf
Slide 11: Positive findings, issues identified and actions
POSITIVE FINDINGS Tarcocimab and ABCD platform well tolerated Differentiated 6-month durability is real Ocular PK data support signature durability The ABCD is a true medicinal platform ISSUES IDENTIFIED Immediacy deficit in wet AMD Increased cataract rate specific to DME Overly aggressive study des
Slide 12: Top Questions We Hear From Investors
Top 4 Questions We Hear From Investors KODIAK
Slide 13: Question 1: Why run another wet AMD durability study for tarcocimab?
Question 1: “Why is Kodiak running another wet AMD durability study for tarcocimab given the failure of the first study?” Solving undertreatment Problem: Irrespective of the drug tested, some patients Why did DAZZLE not meet the primary endpoint? Undertreatment of a minority of patients, with Q12W d
Slide 14: Question 2: Will the cataract imbalance impact success?
Question 2: “Will the cataract imbalance seen in the GLEAM/GLIMMER studies impact the success of tarcocimab and KSI-501?” Solving the cataract issue Why did GLEAM and GLIMMER not meet the primary endpoint? * An unforeseen increase in cataract adverse events * Specific to patients with advanced diabe
Slide 15: Question 3: What is the commercial opportunity?
Question 3: “What is the commercial opportunity for tarcocimab and KSI-501 in an increasingly competitive landscape?” Is there space for new treatments in retinal vascular diseases? Intravitreal anti-VEGF biologics are the mainstay of therapy for patients Despite limited differen- tiation, “Gen 1.5”
Slide 16: Tarcocimab and KSI-501 as mainstay intravitreal biologic monotherapies
Tarcocimab and KSI-501 are being developed as “mainstay” intravitreal biologic monotherapies that provide high efficacy and high durability and a flexible 1-month through 6-month label Kodiak investigational medicines Dual inhibition of IL-6 and VEGF with potential KSI-501 for additional efficacy be
Slide 17: Question 4: Will cash runway last through topline read-outs?
Question 4: “Will Kodiak’s cash runway last through topline read-outs of ongoing clinical trials?” Kodiak has always been thoughtful in its approach to spending and raising funds * Our cash runway is expected to support operations into 2026 * We believe we have increased our probability of success u
Slide 18: Summary of clinical programs and anticipated milestones
Summary of clinical programs and timeline of anticipated milestones Clinical trial Diabetic Target enrollment Primary endpoint: fi Phase 3 Activel 9 rimary endpoint: satay GLOW 2 enrolling complete Week 48 Tarcocimab Tommmnnnnnnn np @rcnnnncccccccccnccncnnna > Mle Phase 3 , Target enrollment Primary
Slide 19: Kodiak is at a decisive moment and an exciting investment opportunity
With 3 clinical programs leveraging our 15-year history, Kodiak is at a decisive moment and represents an exciting investment opportunity 1 : P . A UPCOMING MILESTONES Antibody Biopolymer Conjugate Drugs (“ABCD”s) for Retinal Vascular Diseases TARCOCIMAB Phase 3 TEDROMER Tracking to a registration p
Slide 20: Reimagining Drug Development with the ABCD Platform
Reimagining Drug Development with the ABCD Platform, an Evolution of our ABC Platform KODIAK
Slide 21: ABCD platform designed to embed small molecules and other APIs
Designed to embed small molecules and other Active Pharmaceutical Ingredients ("API") such as oligonucleotides and peptides into the biopolymer backbone for release over a designed-in time period Antibody or other Biologic — Engineered to exhibit high binding affinity and specificity. Any biologic c
Slide 22: Agenda
22 AGENDA Why Kodiak? Science of Durability Science of the Enhanced Formulation Roundtable Discussion Audience Q&A Clinical Program Overview The Kodiak Opportu Roundtable Discussion Audience Q&A ABCD Platform Preview Victor Perlroth, MD Chairman and CEO David Brown, MD David Brown, MD Moderator: Vic
Slide 23: David Brown, MD
David Brown, MD KODIAK
Slide 24: Extended Duration and Higher Dose Anti-VEGF Agents
Extended Duration and Higher Dose Anti-VEGF agents “Is 12 Weeks the New Norm?” RETINA Consultants of America David M Brown, MD
Slide 25: David M Brown MD Disclosures
David M Brown MD Disclosures Aerie (RG,C), Alcon/Novartis (RG,C), Alexion (C) , Allegro (RG,C), Allergan (RG,E,C), Annexon (RG,C), Apellis (RG,C), Astellas (RG), Adverum (RG,E,C), Boehringer- Ingelheim (RG,C) , Carl Zeiss Meditec (C), Celltrion (RG, C), Clearside Biomedical (RG,E,C), Coda Therapeuti
Slide 26: Goal = Gold Standard Vision Gain
Goal = Gold Standard Vision Gain Rosenfeld, Brown, et al. N Engl J Med. 2006;355:1419. Brown, Rosenfeld, et al. N Engl J Med. 2006;355:1432
Slide 27: Routine Quarterly Ranibizumab Dosing = Vision Loss
Routine Quarterly Ranibizumab Dosing = Vision Loss Regillo, Brown et al. AJO. 2008;145: pp.239-248.
Slide 28: Brown & Regillo. AJO 2007: 33: pp.23-34.
Brown & Regillo. AJO 2007: 33: pp.23-34.
Slide 29: Intraretinal, Subretinal and Sub-RPE Fluid
Intraretinal Fluid Subretinal Fluid Sub-RPE Fluid Brown & Regillo. AJO 2007: 144: pp.627-637.
Slide 30: Mean Change in VA by Retinal Fluid
Mean Change in VA by Retinal Fluid (DISS*) at Month 8 10 Mean (±SE) change from baseline (letters) No fluid (n=26) 5 0 Fluid (n=50) -5 1 2 -10 3 5 8 11 12 14 17 20 23 24 Month Data from both 0.3 and 0.5 mg ranibizumab groups were pooled. LOCF was used for missing VA outcomes. *DISS: Diffuse edema, I
Slide 31: Absence of OCT Fluid Correlates with Vision Gain
Absence of OCT Fluid Correlates with Vision Gain Brown et al. RETINA. 2013;33: pp.23-34.
Slide 32: Mean (±SE) change from baseline (letters)
10 Mean (±SE) change from baseline (letters) No fluid (n=26) 5 0 Fluid (n=50) -5 1 2 -10 3 5 8 11 12 14 17 20 23 24 Month Data from both 0.3 and 0.5 mg ranibizumab groups were pooled. LOCF was used for missing VA outcomes. *DISS: Diffuse edema, Intraretinal cysts, Subretinal fluid, and/or SubRPE flu
Slide 33: What Determines Drug Clearance?
What Determines Drug Clearance? Axial Eye Length Psuedophakia Vitreous Syneresis
Slide 34: What Determines Drug Clearance?
What Determines Drug Clearance? Axial Eye Length Psuedophakia Vitreous Syneresis
Slide 35: Anti-Drug Antibodies = Increase Drug Clearance
Anti-Drug Antibodies = Increase Drug Clearance Center for Drug Evaluation & Research, Application #761235Orig1s000, Clinical Pharmacology Review
Slide 36: Aqueous and Plasma Concentrations Vary Among Patients
Aqueous and Plasma Concentrations Vary Among Patients Aqueous- Free Aflibercept Concentrations by Patient T ½ = 11d T ½ = 3.7d LLOQ* = 0.078 mg/L LLOQ* = 0.078 mg/L *LLOQ: Lower Limit Of Quantification Do, D. Retina 00:1-5, 2019
Slide 37: Probability of requiring Q8W dosing by half-life
Figure 42. Logistic regression for probability of requiring a Q8W dosing for nAMD studies GR40306 and GR40844 (Arms A). p-value = <0.0005 (n=628, 132 events) 0.8 10% <5 Days N 10% >11 Days Probability of Q8W Dose 0.4 0.0 «ear ; 8 10 12 14 16 Go VH elimination half-life (day) Source: PK and ER of Far
Slide 38: Probability of requiring Q8W or Q12W dosing
Figure 43. Logistic regression for probability of requiring a Q8W or Q12W dosing for nAMD studies GR40306 and GR40844 (Arms A) p-value = <0.0005 (n=628, 342 events) 0.8 0.0 I Probability of Q8W or Q12W Dose 0.4 te 6 8 10 12 fa 16 VH elimination half-life (day) VH elimination half-life (day) Source:
Slide 39: Probability of dropout by dosing regimen in DME studies
e 2 3 fa] = 3 o 6 2 Ft © Pe) © a Figure 45. Logistic regression for probability of dropout, Q4W regimen, Q4W or Q8W regimen, Q4W, Q8W or Q12W regimen at Week 52 for DME studies GR40349 and GR40398 (Arms B) p-value = <0.0005 (n=576, 71 events) p-value = <0.0005 (n=576, 160 events) p-valye = O9001 (n=
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Slide 41: Normal Distribution
— Normal Distribution rat oi DOF Gs
Slide 42: Probability of requiring Q8W dosing
Figure 42. Logistic regression for probability of requiring a Q8W dosing for nAMD studies GR40306 and GR40844 (Arms A). p-value = <0.0005 (n=628, 132 ev g | 0 CR FERRIER OLD op {=} i | a $- | | es 1S] os + > o = J a _ 2 , , ” 3 o | ie ES mi Bt = —__.___ 10th-90th percentild 10% >11 Days T T T T T 6
Slide 43: Ex ee C Do
”T hr Ex ee it an th d e C Do lin ne ic ”
Slide 44: Probability of requiring Q8W dosing
Figure 42. Logistic regression for probability of requiring a Q8W dosing for nAMD studies GR40306 and GR40844 (Arms A). p-value = <0.0005 (n=628, 132 events) o 3 = 3 co oC os + i oO 3 oc Bio P ‘ seen a Ss too OS © 0% <5 Days percentiles 6 8 10 12 14 16 VH elimination half-life (day) VH elimination h
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Slide 47: Anti-VEGF Molar Equivalency
Anti-VEGF Molar Equivalency Aflibercept 2.0 mg Ranibizumab 0.5 mg Faricimab 6.0 mg Brolucizumab 6.0 mg Aflibercept 8.0 mg 1.0 0.6 2.3 4.0 >10
Slide 48: Normal Distribution
— Normal Distribution rat oi DOF Gs
Slide 49: Average Eye
Average Eye (t1/2= 10 days) ty . bil : : t “30° 25 =o B +15 +20" B = mean o = std. dev
Slide 50: Slow Clearance Eyes
Slow Clearance Eyes (t1/2= 14 days)
Slide 51: Fast Clearance Eyes
Fast Clearance Eyes (t1/2= 5 days)
Slide 52: Is Twelve Weeks the New Norm?
Is Twelve Weeks the New Norm? For Average: YES- 12 weeks is the new norm! For Lucky Slow Cleance Eyes: 14-16 weeks is the new norm
Slide 53: Is Twelve Weeks the New Norm?
Is Twelve Weeks the New Norm? For Fast Clearance eyes- 5-6 weeks is the new norm But That’s Better than Monthly!
Slide 54: Currently Available Options
Currently Available Options o Increase Dosing Frequency o Block Additional Targets o Increase Molar Blockade of Anti-VEGF o ABC Platform – increasing drug half-life
Slide 55: Thank You!
Thank You!
Slide 56: Are more durable intravitreal biologics still needed in the era of faricimab?
In the era of faricimab, are more durable intravitreal biologics still needed today for the treatment of retinal vascular diseases? Patients switching to faricimab achieve only a modest extension in dosing + Inclinical trials, less than half of faricimab achieved 4-month dosing in Year 1 Retina spec
Slide 57: Tarcocimab demonstrated 5- to 6-month durability across pivotal studies
Tarcocimab consistently demonstrated 5- to 6-month durability in multiple retinal vascular diseases across its pivotal studies DAZZLE Study* ~60% on S-month dosing in wet 3 HD Aflibercept ' age-related macular degeneration g Aflibercept* Hy Faricimab ' \ [ ! 100% on 6-month dosingin =“? © d Diabetic
Slide 58: Tarcocimab's extended durability stems from its science of durability
Tarcocimab's extended durability stems directly from its underlying science of durability Tarcocimab and the ABCD platfo our science of dur: }------/{ fo CONJUGATE DESIGN The ABCD Platform leverages a proprietary, high molecular weight, phosphorylcholine-based biopolymer that enables an extended ocu
Slide 59: Conjugate Design
2) CONJUGATE DESIGN KODIAK
Slide 60: Ocular half-life increases proportionally with molecular size
Principal of Design: Ocular half-life increases proportionally with molecular size Relationship between ocular half-life and molecular weight (MW, kDa)? | 100 g Strong positive correlation fat between the ocular half-life of gw an intravitreally injected a protein therapeutic and its 3 molecular siz
Slide 61: ABCD platform leverages a proprietary phosphorylcholine-based biopolymer
Kodiak’s ABCD platform leverages a proprietary, high molecular weight, phosphorylcholine-based biopolymer to enable an extended ocular residence time The Antibody Biopolymer Conjugate Drug (“ABCD”) Platform is the foundation of tarcocimab tedromer and KSI-501 High molecular weight . Biopolymer Antib
Slide 62: Tarcocimab's high molecular weight increases ocular half-life
Tarcocimab has a high molecular weight which increases its ocular half-life compared to today's anti-VEGFs Biopolymer 800 kDa Brolucizumab Ranibizumab Aflibercept Faricimab Tarcocimab (Beovu) (Lucentis) (Eylea) (Vabysmo) KODIAK
Slide 63: Tarcocimab's high formulation strength provides a dosing advantage
Tarcocimab also has a high formulation strength to provide a meaningful dosing advantage Brolucizumab —Ranibizumab Aflibercept Aflibercept Faricimab Tarcocimab Tedromer Single-Chain . . . Molecule Type Antibody Antibody Recombinant Fusion Protein Antibody Antibody Biopolymer Fra t ragment Conjugate
Slide 64: Potency
R POTENCY KODIAK
Slide 65: Tarcocimab shows high binding affinity and potency in pre-clinical assays
Tarcocimab unconjugated protein and conjugated protein both demonstrate high cal assays binding affinity and potency in pre-cli High Binding Affinity for VEGF-A Both the tarcocimab conjugate and the anti-VEGF antibody demonstrate similarly 10 high binding affinity for VEGF-A. High Potency in Inhibit
Slide 66: Animal Ocular Half-Life
ANIMAL OCULAR HALF-LIFE KODIAK
Slide 67: Tarcocimab ocular tissue biodistribution in rabbits
Tarcocimab demonstrates excellent ocular tissue biodistribution in rabbits Ocular Tissue Biodistribution of Tarcocimab in Rabbits! 108 1084 10*4 @® Vitreous humor @ Retina @ Choroid - RPE “® Aqueous humor sein 1074 Concentration of larcocimab (ng/g) 0 20 40 60 Days Post Dosing 67 RPE: retinal pig 1
Slide 68: Tarcocimab's ocular half-life vs approved biologics in rabbits
Tarcocimab’s ocular half-life is significantly longer than approved intravitreal biologics in the rabbit model 3x — 4x longer half-life versus Lucentis, Eylea and Vabysmo Ranibizumab? Faricimab* Tarcocimab? (48 kDa) (149 kDa) (950 kDa) 3 Days 4 Days Tl Days Aflibercept? (115 kDa) 4 Days 68 |. Kodiak
Slide 69: Human Ocular Half-Life
ae 1s HUMAN OCULAR HALF-LIFE KODIAK
Slide 70: Calculating human ocular half-life from aqueous humor concentrations
Tarcocimab’s ocular half-life in humans was calculated by measuring aqueous humor concentrations over time from patients in the Phase 1b Study Using Aqueous Humor Concentration of Tarcocimab to Determine Ocular t1/2 in human » Aqueous humor samples were collected AH samples from from 47 subjects in
Slide 71: Extended ocular half-life of >20 days in 45% of sampled patients
Tarcocimab achieved an extended ocular half-life of >20 days in 45% of sampled patients from the Phase 1b Study All Patients _ Select Individual Patients” Patients Ocular t¥ Distribution (n=47) (N=47) 1000007 1000007 t1/2 = 39.8 days | 5 100007 100007 - 7 45% >20 Days ES 1/2 = 27.5 days ) 2£ (uss re
Slide 72: Mean human ocular half-life 3x longer than faricimab
Tarcocimab has a mean ocular half-life in humans of 20 days, which is 3x longer than faricimab 19.8 days 83 (IOth percentile) (Mean) | Tarcocimab 1 T T T = T T a a | T T T T T T 4 6 8 10 12 4 16 18 20 22 24 26 28 30 32 34 36 38 40 42 44 46 Faricimab Human Ocular Half-Life (Days) 5.2 (10th percentile
Slide 73: Consistent ocular half-life across wet AMD, DME and RVO
Tarcocimab demonstrated consistent ocular half-life across wet AMD, DME and RVO Patients Tarcocimab Human Ocular Half-Life by Indication 50) 407 8 3 Acqueous humor t1/2 (days) All WwAMD DM RVO n=47 n=23 n=8 n=16 73 Height of the box represents the mean; error bars represent standard deviation, KODIA
Slide 74: Tarcocimab's ocular half-life vs approved intravitreal biologics
From Principal of Design to Human Durability (“A Science of Durability”): Tarcocimab's Ocular Half-Life in Human is Much Longer Than Approved Intravitreal Biologics 74 Human Ocular Half-Life and Molecular Weight of Current Intravitreal Biologics!2 Human t¥ (Days) 20 1S 10 Ranibizumab? 48 kDa T¥%: 7.
Slide 75: Does longer ocular half-life translate into clinical durability?
What is the evidence this longer ocular half-life in human translates into clinical durability? KODIAK
Slide 76: Differentiated clinical durability profile in all retinal vascular diseases
Consistent with its science of extended ocular half life, tarcocimab has shown a differentiated clinical durability profile in all retinal vascular diseases tested Durability Interval at Year 1 . Number of doses rn in the second 6 months of Year 1 AGdoses Qsw 28% 6-month 5-month durability 50% durab
Slide 77: DME: Tarcocimab Q8W-Q24W vs aflibercept Q8W
80 75 Q8W 70 23% 65 Aflibercept Q8W (n=112) Tarcocimab Q8W-Q24W (n=108) 60 Q12W 0 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64 9% Q16W 5% 500 Q20W 9% 450 400 350 300 250 0 4 8 12 16 20 24 28 32 36 40 44 48 52 56 60 64
Slide 78: Tarcocimab Q20W vs aflibercept Q8W
75 70 65 Aflibercept Q8W 60 Tarcocimab Q20W 55 0 4 8 12 16 20 24 28 32 36 40 44 48 52 400 300 200 0 4 8 12 16 20 24 28 32 36 40 44 48 52
Slide 79: Relevance of 6-month durability in diabetic retinopathy
How relevant is 6-month durability in Diabetic Retinopathy? With only 4 doses in the first year (a ‘gentle on-ramp’) and 100% of tarcocimab patients on 6-month dosing, the drug treats current retinopathy and prevents diabetic complications Proportion of patients with 22-Step improvement in DRSS from
Slide 80: Durability benefit in RVO
Is there any durability benefit in RVO? Even after receiving 2 fewer initiating doses (4 vs 6, respectively), tarcocimab treated patients at one year had a ~30% higher chance of not requiring any additional doses versus aflibercept Primary endpoint met Tarcocimab Number of injections through Year 1
Slide 81: Tarcocimab and ABC platform supported by science of durability
Tarcocimab and the ABC platform are supported by our SCIENCE OF DURABILITY Designed-in Extended Tissue Residence Time A proprietary phosphorylcholine-based polymer is conjugated to an antibody to increase molecular size which extends ocular half-life High in-Vitro Potency Both unconjugated protein a
Slide 82: Does this durability come at a cost?
Does this durability come at a cost? KODIAK
Slide 83: Aflibercept Q8W vs tarcocimab Q4W
0 -50 -100 -150 -200 Aflibercept Q8W (n=281) Tarcocimab Q4W (n=276) -250 0 4 8 12 16 20 24 28 32 36 40 44 48
Slide 84: Course corrections to solve the immediacy challenge
We have applied course corrections to solve this challenge in immediacy KODIAK
Slide 85: Agenda
85 AGENDA Why Kodiak? Science of Durability ience of the Enhanced Formulation Roundtable Discussion Audience Q&A Clinical Program Overview The Kodiak Opportunity Roundtable Discussion ABCD Platform Preview Sum and Takeaways Victor Perlroth, MD Chairman and CEO David Brown, MD David Brown, MD Moderat
Slide 86: David Brown, MD
David Brown, MD KODIAK
Slide 87: Including free protein primes the enhanced formulation for immediacy
By including free protein (unconjugated), the enhanced formulation is primed to solve the immediacy issue Tarcocimab Old Formulation 100% Conjugates Strength Smg (Total Anti-VEGF mAb) Proportion of Smg Conjugates n/a Proportion of Free Protein 87 Identical strength Reduced conjugates from 100% to 80
Slide 88: Unconjugated portion has a high molar equivalent
The unconjugated portion of the enhanced formulation of tarcocimab contains A high molar equivalent to approved intravitreal biologics . 7 . soe Tarcocimab Tarcocimab Brolucizumab-~ Ranibizumab_ = Aflibercept Faricimab Old Formulation Enhanced Formulation Single-Chain . . . . Unconjugated Antibody M
Slide 89: How much unconjugated protein is there?
How much unconjugated protein is there? Is it enough? The unconjugated portion is equivalent to 1.3 mg of aflibercept, sufficient to provide a strong immediacy after dosing The 20% of free protein alone in the 0.5 mg aflibercept achieved similar CST enhanced formulation is equivalent to 67% improvem
Slide 90: Objective of each component
What is the objective of each component? The unconjugated protein delivers a strong “pulse” of VEGF inhibition, meanwhile the conjugate continues to deliver sustained durability The 1 mg of free protein in the enhanced Similar efficacy benefits were observed among formulation is expected to meaningf
Slide 91: Enhanced formulation closes the immediacy gap
What is the objective? A key objective of the enhanced formulation was to close the immediacy gap, while improving manufacturability, dose administration and patient safety CST Reduction Through Loading Dose Phase in Wet AMD* ° te Tarcocimab (old formulation) @ Aflib t 2 ds . thercepr emg ana Sng Th
Slide 92: Enhanced formulation has nearly identical anti-VEGF potency
Are you sacrificing potency? The enhanced formulation has nearly identical anti-VEGF potency as the old clinical formulation in preclinical assays Luminescence (RLU) Inhibition of VEGF:VEGFR Binding in Cell-based Assay 600,000 Clinical formulation — a& Enhanced formulation 400,000 \ 200,000 \ \ Inhi
Slide 93: Modeling the expected pharmacology of tarcocimab in patients
Bringing it all together: modeling the expected pharmacology of tarcocimab in patients KODIAK
Slide 94: Modeling suggests tarcocimab may extend dosing intervals
Tarcocimab extends human ocular t1/2 by 3x vs faricimab; modeling suggests tarcocimab may meaningfully extend dosing intervals for patients while providing immediacy Tarcocimab extends t1/2 Tarcocimab extends ti/2 Tarcocimab extends t1/2 from 4 to 10 days from 7 to 18 days from 12 to 28 days Tarcoci
Slide 95: Enhanced formulation expected to have similar durability
Are you sacrificing durability? The enhanced formulation is expected to have a similar durability profile as the 100% conjugated formulation WAMD Durability at Year 1 Low dose 100% Phase Ib Clinical dose 100% conjugate (2.5 mg) conjugate (5 mg) Enhanced formulation < 80% conjugate (4 mg) » 20% free
Slide 96: Enhanced formulation to solve increased cataracts in DME
Another benefit of the enhanced formulation is we believe it will solve the issue of increased cataracts in DME patients KODIAK
Slide 97: Cataract imbalance not observed with monthly dosing in DAYLIGHT
The cataract imbalance in GLEAM and GLIMMER was not observed with monthly dosing in DAYLIGHT. Thus, exposure or accumulation was not the culprit 97 GLEAM + GLIMMER DAYLIGHT (DME) (wAMD) Duration of Follow-Up 64 Weeks 48 Weeks Cataract in Study Eye up to Primary Endpoint Subjects with Cataract AEs in
Slide 98: Lens is susceptible to stress leading to cataract formation
The lens is highly susceptible to stress, leading to cataract formation. Glucose is a known stress factor, as it is seen in diabetics. 4 d7 do Many cataract associated stresses induce | Glucose ex vivo porcine lens opacification Triamcinolone acetonide Nacl 'V Key take-aways Lens gradually opacify b
Slide 99: Tarcocimab does not contribute to ex vivo lens opacification
Experimentally, tarcocimab does not contribute to ex vivo lens opacification under multiple conditions Objective: Measuring the effect of tarcocimab on porcine lens opacification Day 0 Day 2 Day4 Day 7 Quantification of Opacification (pixel intensity) Untreated +4 bees eee eee Tarcocimab formulation
Slide 100: Tarcocimab does not cause oxidative stress to lens epithelial cells
Tarcocimab does not cause oxidative stress to human lens epithelial cells at basal or at high glucose concentration * Human lens epithelial cells were treated with tarcocimab, with or without high level of glucose to simulate the physiological concentration in the eyes of a diabetic patient * The ce
Slide 101: Ease of dosing and patient safety
Ease of dosing and patient safety. The enhanced formulation improves dispersion, with a liquid-like consistency, decreasing force and time needed Susceptibility Local Issue Solution Tarcocimab old formulation Diabetic patients have an accelerated cataract formation’ Gel-like consistency Increased fo
Slide 102: Enhanced formulation requires less injection time and force
Ease of dosing and patient safety The enhanced formulation requires less injection time and force Injection Force Over Time 20 z 8 10 ‘\ 2 —® Clinical formulation 5 -™ Enhanced formulation ie) 19) 5 10 aL Injection Time (s) Injection time reduced from 8 - 10 seconds to 2 - 3 seconds 102 Force (N) 20
Slide 103: Ease of dosing and patient safety
Ease of dosing and patient safety. Tarcocimab clinical and enhanced formulations were labeled with green fluorescent dye and injected into artificial vitreous at the clinical ratios / volumes to compare dosing and administration of the two formulations 8 - 10 seconds to inject with high 2-3 seconds
Slide 104: We have extended these formulation improvements into all our ABCD medicines
Slide 105: We have incorporated the enhanced formulation into KSI-501
Slide 106: Enhanced formulation demonstrates same anti-VEGF and anti-IL-6 potency
Slide 107: Enhanced formulation for KSI-501 requires less injection time and force
Slide 108: Agenda
Slide 109: Roundtable Discussion
Slide 110: Agenda
Slide 111: Q&A
Slide 112: Agenda
Slide 113: Clinical Program Overview
Slide 114: Kodiak's ABCD Platform extends ocular residence time
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Slide 117: Tarcocimab shows differentiated durability across retinal vascular diseases
Slide 118: Three positive Phase 3 studies; one study away from multi-indication BLA
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Slide 121: DAYBREAK registrational study for tarcocimab tedromer and KSI-501
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Slide 123: Aflibercept Q8W vs tarcocimab Q20W
75 70 65 Aflibercept Q8W 60 Tarcocimab Q20W 55 0 4 8 12 16 20 24 28 32 36 40 44 48 52 400 300 200 0 4 8 12 16 20 24 28 32 36 40 44 48 52
Slide 124: What is special about DAYBREAK's disease activity criteria?
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Slide 127: KSI-501 is a first-in-class bispecific binding IL-6 and VEGF
Slide 128: IL-6 driven inflammation is implicated in retinal vascular disease
Slide 129: Increased IL-6 associated with poor visual outcomes
Slide 130: Dual inhibition by KSI-501 normalizes barrier biology in preclinical studies
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Slide 133: KSI-501 resulted in meaningful BCVA increase for majority of patients
Slide 134: DAYBREAK registrational study design
Slide 135: Why allow monthly dosing?
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Slide 140: Vamikibart shows anti-IL-6 monotherapy improves inflammatory macular edema
Slide 141: ~50% of patients have persistent IRF on IL-6 monotherapy
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Slide 143: Phase 1b APEX study of KSI-101
Slide 144: Phase 2b/3 Studies PEAK and PINNACLE
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Slide 147: Agenda
Slide 148: The Kodiak Opportunity
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Slide 154: Incremental improvements have resulted in blockbuster opportunities
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Slide 157: Clinical portfolio potential revenue stream starting from 2027
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Slide 159: VETi as Part of Kodiak's Commercial Franchise
Slide 160: The Kodiak Opportunity: historical stock price of KOD
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Slide 162: Roundtable Discussion
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Slide 164: Q&A
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