Kodiak Sciences Reports Q2 2025 Results and Shares Key Clinical Trial Updates

Kodiak’s Business Status and Financial Reports

Kodiak’s Recent Business Plans

Kodiak Sciences Inc. showcased recent business highlights and financial results for the second quarter ending June 30, 2025. The tarcocimab phase 3 toplisted data is predicted to start in 1Q 2026 (6 months) and 3Q 2026 (12 months). The phase 3 GLOW2 diabetic retinopathy study is lined up for 1Q 2026. The phase 3 DAYBREAK wet AMD study data is expected in 3Q 2026. The completion of manufacturing and declaration of BLA-based commercial scale batches cleared in Kodiak’s URSUS facility. The KSI-501 phase 3 topline data is planned in 3Q 2026 (12 months). The phase 3 DAYBREAK wet AMD study data is predicted in 3Q 2026. The planning of Phase 3 Study 2 will begin in 1Q 2026.

The phase 1b dual dose clinical trial data in macular edema secondary to inflammation (MESI) patients elaborate that a single dose of KSI-101 enables continuous and on-point anatomical gains by week 1, along with corresponding visual acuity gains. Also, visual and anatomical improvement was successfully gained with rapid dosing, with more than 90% of patients during the study targeting dryness by week 8. It is the effect of 2 doses of KSI-101, as a proof by the absence of sub and intra-retinal fluid. The APEX MESI data in patients who completed 12 weeks showed that half a percent of the patients successfully achieved a> 15-letter gain with the benefits. The phase 3 PEAK and PINNACLE studies in MESI are under enrollment.

Other pipeline programs, such as retina duet programs in geographic atrophy and glaucoma, are being formed as the ABC platform progresses. The dual cytokine-based bispecific antibody programs KSI-102 and KSI-103 are also progressing with pre-IND activities focusing on ocular inflammation disease. The digital health program VETi, visual engagement technology, and the imager program have achieved prominent advancement. VETi is an AI-oriented machine learning wearable headset. Its vast application, promoting advancement in cognitive science and security, is remarkable.

Financial Results

Kodiak ended its second quarter of 2025 with $104.2 million of cash equivalents and cash. This may support future planned projects or studies in 2026. The net loss for the same was $54.3 million or $1.03 per share on a diluted and basic basis in comparison to a net loss of $45.1 million or $0.86 per share on the same basis for the second quarter of 2024. Further R&D expenses and G&A expenses were a valuable contribution to this achievement.