Kodiak Sciences (KOD) Company Report

Kodiak, a pre-commercial stage retina-focused biotech, is advancing three main assets: KSI-101, tarcocimab, and KSI-501, all with Phase III programs in progress.
Key clinical data readouts are expected in 2026 and 2027, including top-line data for tarcocimab's GLOW2 study in Q1 2026, DAYBREAK study in Q3 2026, and KSI-101's PEAK study in Q4 2026.
A Biologics License Application (BLA) for tarcocimab is planned shortly after the DAYBREAK readout in Q3 2026, targeting wet AMD, diabetic retinopathy, and retinal vein occlusion.
Recent financing has provided capital to fund operations through the GLOW2, DAYBREAK, and PEAK readouts, with potential to cover the PINNACLE readout as well.

Jan 12, 2026, 9:30 PM

Transcript

Kodiak Provides Update on Pipeline Progress and Upcoming Phase 3 Data Readouts

KOD

New Projects/Investments

Guidance Update

Product Launch

Kodiak, a pre-commercial retina-focused biotech, anticipates three Phase 3 program readouts in 2026: tarcocimab's GLO2 study in Q1 2026, Daybreak study (for tarcocimab and KSI-501) in Q3 2026, and KSI-101's Peak study in Q4 2026.
The company plans to file a Biologics License Application (BLA) for tarcocimab in mid-2026 across wet AMD, diabetic retinopathy, and retinal vein occlusion, following the Daybreak readout.
Kodiak's KSI-101 asset, targeting macular edema secondary to inflammation (MESI), is in Phase 3 with top-line data for Peak and Pinnacle studies expected in Q4 2026 and Q2 2027, respectively, addressing a significant unmet need in a market currently lacking a biologic.
Recent financing ensures capital through the GLO2, Daybreak, and Peak readouts, with potential to extend to the Pinnacle readout.

Jan 12, 2026, 9:30 PM

Transcript

Kodiak Provides Updates on Phase 3 Clinical Programs and Financial Outlook at J.P. Morgan Healthcare Conference

KOD

New Projects/Investments

Guidance Update

Kodiak, a pre-commercial retina-focused biotech, expects multiple key clinical trial readouts in 2026 and 2027 for its three phase 3 programs: KSI-101, tarcocimab, and KSI-501.
For KSI-101, top-line data from the Phase 3 Peak study is anticipated in Q4 2026, and from the Phase 3 Pinnacle study in Q2 2027.
Tarcocimab is slated for top-line data from the Phase 3 GLO2 study in Q1 2026 and the Phase 3 Daybreak study in Q3 2026, with a BLA filing for wet AMD, diabetic retinopathy, and retinal vein occlusion expected shortly thereafter.
The company has secured capital through the GLO2, Daybreak, and Peak readouts and projects a sustainable revenue stream beginning in 2027.

Jan 12, 2026, 9:30 PM

Transcript

Kodiak Sciences to Present at J.P. Morgan Healthcare Conference

KOD

New Projects/Investments

Kodiak Sciences Inc. will present at the 44th Annual J.P. Morgan Healthcare Conference on Monday, January 12, 2026, at 1:30 p.m. Pacific Time.
The company is a precommercial retina focused biotechnology company developing three late-stage clinical programs.
Topline data readouts for Tarcocimab and KSI-501, targeting retinal vascular diseases, are expected in 1Q 2026 and 3Q 2026.
Topline data readouts for KSI-101, for Macular Edema Secondary to Inflammation (MESI), are expected in 4Q 2026 (PEAK) and 2Q 2027 (PINNACLE).

Jan 8, 2026, 1:19 AM

Press Release

Kodiak Sciences Closes Public Offering

KOD

Kodiak Sciences Inc. announced the closing of its previously announced underwritten public offering of 8,000,000 shares of common stock.
This total includes 1,043,478 shares sold due to the underwriters' full exercise of their option to purchase additional shares.
The shares were offered at a price of $23.00 per share, resulting in gross proceeds of approximately $184 million for Kodiak Sciences.
The company stated that the offering strengthens its financial position as it prepares for important Phase 3 topline readouts for its late-stage clinical assets: KSI-101, KSI-501, and tarcocimab.

Dec 19, 2025, 1:26 AM

Press Release

Kodiak Sciences Inc. Completes Public Offering of Common Stock

KOD

Kodiak Sciences Inc. completed a public offering, issuing a total of 8,000,000 shares of common stock on December 18, 2025.
This total includes 6,956,522 shares initially offered and an additional 1,043,478 shares from the full exercise of the underwriters' option.
The public offering price was $23.00 per share, while the underwriters purchased the shares from the company at $21.62 per share.
The gross proceeds to Kodiak Sciences Inc. from this offering were approximately $184 million.

Dec 18, 2025, 9:25 PM

8-K

Kodiak Sciences Announces Pricing of Upsized Public Offering

KOD

New Projects/Investments

Kodiak Sciences Inc. priced an upsized underwritten public offering of 6,956,522 shares of its common stock at $23.00 per share.
The offering is expected to generate approximately $160 million in gross proceeds for Kodiak Sciences.
The offering is anticipated to close on or about December 18, 2025.
Kodiak Sciences has granted the underwriters a 30-day option to purchase up to an additional 1,043,478 shares.

Dec 17, 2025, 3:55 AM

Press Release

Kodiak Sciences Announces Proposed Public Offering of Common Stock

KOD

Kodiak Sciences Inc. has commenced an underwritten public offering of 6,000,000 shares of its common stock.
The company expects to grant the underwriters a 30-day option to purchase up to an additional 900,000 shares of common stock.
All shares in the proposed offering will be sold by Kodiak Sciences.
J.P. Morgan, Jefferies, Evercore ISI, and UBS Investment Bank are acting as joint book-running managers for the proposed offering.
The proposed offering is subject to market and other conditions, and there are no assurances as to its completion, actual size, or terms.

Dec 15, 2025, 9:01 PM

Press Release

Kodiak Sciences Details Upcoming Phase III Readouts and KSI-101 Development

KOD

New Projects/Investments

Guidance Update

Product Launch

Kodiak Sciences anticipates three Phase III data readouts over the next 12 months from December 3, 2025. These include the GLO2 study for tarcocimab in diabetic retinopathy (top-line data in March 2026), the DAYBREAK study for tarcocimab and KSI-501 in wet AMD (top-line data in mid-September 2026), and the PEAK study for KSI-101 in MESI (top-line data expected around December 2026).
The KSI-101 (IL-6 VEGF bispecific) Phase 1/1b APEX study demonstrated strong efficacy in MESI patients, with the 10mg dose achieving a mean 15.4-letter gain in BCVA at week 20.
KSI-101 also showed superior retinal drying, with more than 90% of patients achieving total absence of intraretinal and subretinal fluids by week 8, compared to 50% in Roche's DOVETAIL study.
The company considers the 150,000 addressable patients for MESI to be a conservative estimate, suggesting that biologics like KSI-101 could potentially be used as a first-line treatment after topical steroids.

Dec 3, 2025, 8:00 PM

Transcript

Kodiak Sciences Provides Updates on Clinical Pipeline and Upcoming Catalysts

KOD

New Projects/Investments

Revenue Acceleration/Inflection

Product Launch

Kodiak Sciences anticipates three Phase 3 data readouts over the next 12 months, including the GLO2 study (tarcocimab in diabetic retinopathy) in March 2026, the DAYBREAK study (tarcocimab and KSI-501 in wet AMD) in mid-September 2026, and the PEAK study (KSI-101) around December 2026.
In the Phase 1/1b APEX study for KSI-101 in MESI, the 10-milligram dose achieved a mean 15.4-letter gain in best-corrected visual acuity (BCVA) at week 20, and over 90% of patients achieved total absence of intraretinal and subretinal fluids by week 8.
The Phase 3 trials for KSI-101 (PEAK and PINNACLE) are designed to be more than 90% powered with monthly dosing for 24 weeks, targeting a potentially conservative addressable patient population of 150,000 for MESI.
Biologics like KSI-101 are anticipated to be positioned as first-line treatment after topical steroids for MESI, rather than third-line.