Kodiak Sciences — Third Quarter 2026 Earnings Summary

Kodiak Sciences reported that its Phase 3 DAYBREAK study for Zenkuda met the primary endpoint in wet age-related macular degeneration, demonstrating vision gains and sustained retinal drying with a 6-month dosing interval for 54% of patients. The company also announced that the Phase 3 DAYBREAK study for Tabirafusp-ted met its primary vision endpoint and is actively enrolling in the Phase 3 ALTO study for diabetic macular edema. Financial results for the third quarter of 2026 showed a net loss of $66.2 million, with the company holding $88.7 million in cash and raising an additional $69 million in net proceeds from an equity offering subsequent to the quarter. Kodiak plans to submit a multi-indication Biologics License Application for Zenkuda by the end of 2026 and expects to announce the first Phase 3 results for KSI-101 in December 2026.