AI Earnings Predictions for Kodiak Sciences Inc (KOD)

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Kodiak Sciences Announces Recent Business Highlights and First Quarter 2026 Financial Results

Palo Alto, Calif., May 7, 2026 -- Kodiak Sciences Inc. (Nasdaq: KOD), today reported recent business highlights and financial results for the third quarter ended March 31, 2026.

"Kodiak has entered 2026 with continued momentum and increasing clarity as we advance toward key clinical readouts and our first planned regulatory submission," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Sciences.

"The recent positive Phase 3 GLOW2 results for Zenkuda reinforce the strength of our ABC Platform and position us to move forward on our first multi-indication BLA submission. At the same time, we are making meaningful progress across our late-stage portfolio, including continued advancement of KSI-101 and KSI-501, and we eagerly anticipate the September readout for DAYBREAK Phase 3 in wet AMD and the December readout for PEAK Phase 3 in MESI. This year is a defining period for Kodiak, with important opportunities for further clinical validation, regulatory progress and continued evolution of our identity as a vision sciences company," continued Dr. Perlroth.

Recent Business Highlights

Zenkuda (tarcocimab tedromer) — Accelerating Toward BLA Submission

On March 26, 2026, Kodiak announced positive topline results in GLOW2, the second Phase 3 study of Zenkuda (tarcocimab tedromer) in diabetic retinopathy (DR), demonstrating superiority over sham.

• Zenkuda demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p<0.0001).

• Zenkuda also demonstrated superiority to sham with an 85% risk reduction in the key secondary endpoint of development of sight threatening complications (2.4% with Zenkuda vs 15.8% with sham, p=0.0001) and with a ≥3-step improvement in DRSS (13.7% with Zenkuda vs 0% with sham, p<0.0001).

• Zenkuda showed strong efficacy independent of GLP-1 receptor agonist use, supporting its profile in a real-world diabetic population.

• Zenkuda was well tolerated with no instances of intraocular inflammation, retinal vasculitis or occlusive retinal vasculitis, and a low cataract adverse event rate (2% per arm).

Combined with the previously reported Phase 3 study readouts (GLOW1, BEACON and DAYLIGHT), Zenkuda now has a multi-indication BLA-ready profile.

Phase 3 DAYBREAK Study — Topline Data Expected September 2026

• Enrollment in the DAYBREAK Phase 3 study of both Zenkuda and KSI-501 in patients with treatment-naive neovascular age-related macular degeneration (wet AMD) was completed with approximately 690 subjects enrolled.

• Topline data from the one-year primary endpoint for DAYBREAK are expected in September 2026, evaluating both Zenkuda and KSI-501.

KSI-101 — Phase 3 Programs Advancing

• Enrollment is progressing well in the Phase 3 PEAK and PINNACLE studies of KSI-101 in patients with macular edema secondary to inflammation (MESI), evaluating the 5 mg and 10 mg dose levels.

o Topline results from PEAK are expected in 4Q 2026.

o Topline results from PINNACLE are expected in 2Q 2027.

• On February 7, 2026, Kodiak presented final Phase 1b APEX data at the Angiogenesis, Exudation and Degeneration annual meeting:

o More than half of patients achieved ≥15-letter gains in best corrected visual acuity (BCVA), with additional benefit at higher dose levels.

o Rapid vision improvements with 10-letter gains by Week 4 and OCT CST <325 microns achieved as early as Week 1 in top dose groups.

o In top dose groups, ≥90% achieved complete absence of intraretinal fluid (IRF) and subretinal fluid (SRF), indicating retinal dryness and normalization of retinal architecture.

First Quarter 2026 Financial Results

Cash Position

Kodiak ended the first quarter of 2026 with $169.5 of million cash and cash equivalents. We believe that our current cash and cash equivalents will support our current and planned operations into 2027.

Net Loss

Net loss for the first quarter of 2026 was $58.2 million, or $0.94 per share on a basic and diluted basis, as compared to a net loss of $57.5 million, or $1.09 per share on a basic and diluted basis, for the first quarter of 2025. Net loss for the first quarter of 2026 included non-cash stock-based compensation expense of $12.2 million, as compared to $15.9 million for the first quarter of 2025.

R&D Expenses

Research and development (“R&D”) expenses were $48.5 million for the first quarter of 2026, as compared to $43.6 million for the first quarter of 2025. R&D expenses for the first quarter of 2026 included non-cash stock-based compensation expense of $6.2 million, as compared to $7.9 million for the first quarter of 2025. The increase in R&D expenses in the first quarter of 2026 was primarily driven by increased clinical activities related to our active PEAK/PINNACLE and DAYBRE

EX-99.1

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EX-99.1

EX-99.1

Exhibit 99.1

Kodiak Sciences Announces Recent Business Highlights and Fourth Quarter and Full Year 2025 Financial Results

PALO ALTO, Calif., March 31, 2026 – Kodiak Sciences Inc. (Nasdaq: KOD), today reported recent business highlights and financial results for the fourth quarter and full year ended December 31, 2025.

“Kodiak’s momentum has continued to build, highlighted by positive Phase 3 topline results from the GLOW2 study and multiple advancing late-stage and pipeline programs that together reinforce the company’s differentiated molecules, platform and long term growth strategy,” said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Sciences.

“The GLOW2 Phase 3 study delivered strong topline results showing meaningful efficacy, safety and durability of Zenkuda (tarcocimab tedromer) in diabetic retinopathy. These results represent a significant validation of the company’s ABC platform, and we intend to move on an accelerated timeline toward a multi-indication Biologics License Application (BLA) submission for Zenkuda.”

We have also completed enrollment in the Phase 3 DAYBREAK study of both Zenkuda and KSI-501 in patients with neovascular age-related macular degeneration (wet AMD), with approximately 690 subjects enrolled. Topline data is expected in September 2026.

We are also rapidly advancing KSI-101 with enrollment progressing well in the Phase 3 PEAK and PINNACLE studies. Topline results from PEAK are expected in 4Q 2026 and for PINNACLE in 2Q 2027. KSI-101 demonstrated compelling data in the Phase 1b APEX study in patients with macular edema secondary to inflammation (MESI). Final Phase 1b APEX data showed rapid and robust improvements in both vision and retinal anatomy, including high rates of ≥15-letter BCVA gains, early and sustained retinal drying, and encouraging durability. These findings support continued development and highlight the breadth of Kodiak’s platform beyond anti-VEGF therapies into inflammatory retinal diseases.

Beyond our lead programs, we continue to expand a diversified pipeline of bispecific antibody candidates, including KSI-102 and KSI-103, targeting key inflammatory pathways, as well as retina duet programs in glaucoma and geographic atrophy. Our duet programs, built on the ABC platform, reflect a strategy to address a broad range of high prevalence retinal diseases with differentiated, multi-targeted approaches.

In parallel, we have made tremendous progress with our digital health and artificial intelligence capabilities through the VETi (Visual Engagement Technology and Imager) platform. Progress across hardware, software and machine learning is enabling the development of an AI-powered wearable headset with applications in retina care, alongside broader opportunities in identity security and cognitive science. This progress is reflective of Kodiak’s long term planning and execution towards an enhanced identity as a vision sciences company, integrating proprietary therapeutics and next-generation vision technologies.

Recent Business Highlights

Zenkuda (tarcocimab tedromer)

On March 26, 2026, Kodiak announced positive topline results in GLOW2, the second Phase 3 study in diabetic retinopathy, demonstrating superiority of Zenkuda (tarcocimab tedromer) over sham.

• Building on the success of GLOW1 and with all patients on a 6-month dosing interval, Zenkuda demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p<0.0001).

• Zenkuda also demonstrated superiority to sham with an 85% risk reduction in the key secondary endpoint of development of sight threatening complications (2.4% with Zenkuda vs 15.8% with sham, p=0.0001) and with a ≥3-step improvement in DRSS (13.7% with Zenkuda vs 0% with sham, p<0.0001).

• Zenkuda also demonstrated strong efficacy independent of concomitant GLP-1 receptor agonist use. In Zenkuda-treated patients, the proportion achieving a ≥2-step improvement in DRSS was 60.0% among those using GLP-1 medications versus 64.3% among those not using GLP-1 medications, supporting Zenkuda’s efficacy profile in a real-world diabetic population.

• Zenkuda was well tolerated with no reported instances of intraocular inflammation, retinal vasculitis or occlusive retinal vasculitis and a low cataract adverse event rate of 2.3% versus 1.6% with sham. The safety data support Zenkuda’s enhanced commercial formulation and elevate the established safety profile of Kodiak’s biologics-based ABC Platform.

• Based on the strong efficacy, safety and durability data demonstrated in the GLOW2 study, Zenkuda now has a multi-indication BLA-ready profile, and Kodiak intends to accelerate the BLA submission timeline.

KSI-101: Strong Clinical Results and Advancing Phase 3 Program

On February 7, 2026, Kodiak presented final Phase 1b APEX clinical results for KSI-101 in MESI at

8-K

0001468748false00014687482025-11-132025-11-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): November 13, 2025

Kodiak Sciences Inc. (Exact name of Registrant as Specified in Its Charter)

Delaware

001-38682

27-0476525

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1250 Page Mill Rd

Palo Alto, California

94304

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 650 281-0850

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: ☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common stock, par value $0.0001

KOD

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition. On November 13, 2025, Kodiak Sciences Inc. (the “Company”) published a press release reporting the Company’s financial results for the quarter ended September 30, 2025 and business highlights. A copy of the Company’s press release is attached hereto as Exhibit 99.1. In accordance with General Instruction B.2. of Form 8-K, the information contained or incorporated herein, including the press release filed as Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that Section, nor shall it be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as expressly set forth by specific reference in any such filing. Item 9.01 Financial Statements and Exhibits. (d) Exhibits.

Exhibit Number

Description

99.1

Press Release published by Kodiak Sciences Inc. dated November 13, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

KODIAK SCIENCES INC.

Date:

November 13, 2025

By:

/s/ Victor Perlroth

Victor Perlroth, M.D. Chief Executive Officer