Kodiak Sciences Inc. ( KOD Quick Quote KOD - Free Report) reported third-quarter 2020 loss per share of 80 cents, wider than the Zacks Consensus Estimate of a loss of 67 cents and also the year-ago quarter’s loss of 33 cents. Kodiak Sciences currently does not have any approved product in its portfolio. As a result, the company has yet to generate revenues. Shares of Kodiak Sciences have rallied 57.3% so far this year against the industry’s decrease of 2.2%. Quarter in Detail Research and development (R&D) expenses were $29.3 million in the quarter, significantly up from the year-ago period. General and administrative (G&A) expenses were $7.4 million, also significantly up on a year-over-year basis. As of Sep 30 2020, Kodiak Sciences had cash worth $380.5 million compared with $417.1 million as of Jun 30, 2020. Management believes that its cash balance as of September-end will be enough to fund its anticipated operations through 2022. Pipeline Updates In the absence of an approved product in Kodiak Sciences’ portfolio, its pipeline development remains in key focus. The company’s lead pipeline candidate KSI-301 is being developed for treating various retinal vascular diseases. The pivotal phase II/III DAZZLE study on KSI-301 for treating wet age-related macular degeneration (wet AMD) is currently ongoing and enrolling patients. A similar study is also recruiting patients in the EU. Kodiak Sciences plans to complete the overall enrollment in the DAZZLE study by this year-end. Top-line data from the same is expected in early 2022. Meanwhile, In October 2020, Kodiak Sciences treated the first patient in two pivotal phase III studies, namely GLEAM and GLIMMER, investigating KSI-301 for treating diabetic macular edema (DME). Another phase III BEACON study is evaluating KSI-301 for addressing macular edema due to retinal vein occlusion (RVO). We note that Kodiak Sciences remains on course to file a single biologics license application (BLA) for KSI-301 in 2022 to treat wet AMD, DME and RVO. Zacks Rank & Stocks to Consider Kodiak Sciences currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the healthcare sector include Fulcrum Therapeutics, Inc. ( FULC Quick Quote FULC - Free Report) , Halozyme Therapeutics, Inc. ( HALO Quick Quote HALO - Free Report) and Eton Pharmaceuticals, Inc. ( ETON Quick Quote ETON - Free Report) , all carrying a Zacks Rank #2 (Buy) at present. You can see . the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here Fulcrum Therapeutics’ loss per share estimates have narrowed 1.1% for 2020 and 0.9% for 2021 over the past 60 days. Halozyme’s earnings estimates have been revised 19.7% and 13.7% upward for 2020 and 2021 each over the past 60 days. The stock has rallied 110.8% year to date. Eton Pharmaceuticals’ loss per share estimates have narrowed 0.9% for 2020 and 2.2% for 2021 over the past 60 days. Biggest Tech Breakthrough in a Generation Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity. A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
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