Kodiak Sciences Inc. (KOD) Tops Q2 EPS by 8c

Kodiak Sciences Inc. (NASDAQ: KOD) reported Q2 EPS of ($0.58), $0.08 better than the analyst estimate of ($0.66).

"We have made strong progress across the entire company this quarter— clinical, manufacturing, research and corporate. I am very proud of how our growing Kodiak community has continued to execute in the midst of the ongoing global pandemic," said Victor Perlroth, MD, Chief Executive Officer of Kodiak. "There is a high unmet need for a new foundational therapy in the diseases we are exploring with KSI-301, namely wet age-related macular degeneration (wet AMD), diabetic macular edema (DME) and retinal vein occlusion (RVO). With strong physician and patient enthusiasm for KSI-301 and its emerging durability profile, enrollment has been brisk in our DAZZLE wet AMD pivotal study, and we successfully began recruitment in Europe in the second quarter. US enrollment in DAZZLE is near its conclusion. Building on the strong Phase 1b data that well-characterize KSI-301 in treatment-naïve patients and show the potential for many patients to achieve every five- or six-month dosing, we have conviction in the designs of our pivotal studies in DME and RVO and are focused on initiating recruitment. Our ambitious KSI-301 development plan which we call our '2022 Vision' will, if successful, enable a single multi-indication BLA filing in 2022 and commercialization in 2023. We remain on track for achieving our vision from a timeline perspective and from a data perspective as well, with the 44-week KSI-301 Phase 1b results recently presented at ASRS continuing to demonstrate differentiated treatment durability alongside standard-of-care level safety and efficacy. As competing programs-in-development continue to present their own on-going safety, efficacy and durability data, we see the real possibility emerging for KSI-301 to achieve our aspirational goal as the 'product for everyone' with retinal vascular diseases. At the same time, we are making strides towards Kodiak as a global center of excellence for high-science retinal medicines development, with our growing pipeline of bispecific and triplet inhibitors built on our ABC Platform continuing to advance. Given the growing prevalence of sight-threatening diseases and the demographics of aging and diabetes globally, Kodiak's ten-plus years of focus and dedication to retina is allowing us to begin accelerating our impact. With all these efforts in progress and a strong cash runway from our equity and royalty financings, we enter the third quarter with a growing and resilient team who continue to step-in daily for patients. We applaud their passion and look forward to continued execution in this second half of 2020."

For earnings history and earnings-related data on Kodiak Sciences Inc. (KOD) click here.

You May Also Be Interested In

• Gilead Sciences (GILD) Misses Q1 EPS by 288c
• COPT Defense Properties (CDP) Reports In-Line Q1 EPS; offers guidance
• T-Mobile posts mixed Q1 top and bottom line, expects more subscribers in 2024