Kodiak Sciences

Jefferies upgraded Kodiak Sciences Inc. (KOD) from Hold to Buy, citing its lead investigational medicine, tarcocimab, under development for retinal vascular diseases. Tarcocimab is in two Phase 3 trials, GLOW2 and DAYBREAK, for diabetic retinopathy and wet AMD, respectively. The stock, currently undervalued at $7 per share with a $400 million market cap, is expected to climb to $20 or more as Phase 3 results approach. Upcoming Phase IB data for macular edema secondary to inflammation (MESI) could open new indications, enhancing growth prospects. Kodiak ended Q3 2024 with $197.9 million in cash, expected to support operations into 2026.

Kodiak Sciences Inc. to present at Jefferies London Healthcare Conference on Nov 21, 2024, and Evercore ISI HealthCONx Conference on Dec 3, 2024. Live webcasts available on Kodiak's website.

Kodiak Sciences (NASDAQ: KOD) develops transformative retinal therapeutics using its ABC Platform, focusing on age-related macular degeneration and diabetic eye disease. Key products include tarcocimab tedromer (KSI-301) and KSI-501, with significant clinical progress in diabetic retinopathy. The company ended Q1 2024 with $245.9M in cash and a net loss of $43M, improved from $70.8M in the previous year.