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Kodiak Q1 Loss Wider Than Expected, Pipeline Development in Focus
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Kodiak Sciences (KOD - Free Report) incurred a loss of $1.09 per share in the first quarter of 2025, wider than the Zacks Consensus Estimate of a loss of 89 cents. The company had incurred a loss of 82 cents per share in the year-ago quarter.
The company currently does not have any approved products in its portfolio. As a result, it is yet to generate revenues. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
KOD's Q1 Results in Detail
Research and development expenses were $43.6 million in the reported quarter, up 45.8% year over year. The increase was mainly due to increased clinical activities associated with ongoing clinical studies and increased manufacturing activities.
General and administrative expenses were $15.4 million, down 4.3% year over year, primarily due to lower non-cash stock-based compensation expenses.
As of March 31, 2025, Kodiak had cash, cash equivalents and marketable securities worth $138.9 million compared with $168.1 million as of Dec. 31, 2024. The company believes that its current cash balance is enough to support its present and planned operations into 2026.
Shares of Kodiak have plunged 60.4% year to date compared with the industry’s decline of 8.4%.
Image Source: Zacks Investment Research
KOD's Key Pipeline Updates
Kodiak is evaluating the efficacy and safety of tarcocimab in treatment-naïve patients with diabetic retinopathy (DR) in the phase III GLOW2 study. The study has completed enrolling patients.
KOD’s second clinical candidate, KSI-501, a dual inhibitor Trap-Antibody-Fusion bioconjugate molecule, is designed to target concurrent inflammation and abnormal angiogenesis observed in the pathogenesis of retinal vascular diseases.
The company is also studying tarcocimab as a second investigational arm in the DAYBREAK study to treat wet age-related macular degeneration (wet AMD), with KSI-501 being the first investigational arm.
Kodiak plans to host an investor conference in July, wherein it is likely to discuss the anticipated timeline for the top-line data from all these studies. The company will also provide an update on the enrollment completion timeline for the phase III DAYBREAK study during the same time.
Based on the success of these two pivotal studies, Kodiak plans to submit a single regulatory filing, seeking the approval of tarcocimab for three large indications — DR, wet AMD and retinal vein occlusion.
Kodiak is also enrolling patients in the phase Ib APEX study, which will evaluate its third investigational candidate, KSI-101, in two new cohorts — cohort 1 in patients with diabetic macular edema and cohort 2 in patients with macular edema secondary to inflammation. Updates from these studies are also expected in July 2025.
KSI-101 is the company’s novel, potent, high-strength bispecific protein targeting IL-6 and VEGF. Updates on the commercial opportunity for KSI-101 are also likely to be discussed at the upcoming investor conference.
Kodiak Sciences Inc. Price, Consensus and EPS Surprise
In the past 60 days, estimates for Halozyme’s earnings per share have increased from $5.02 to $5.23 for 2025. During the same time, earnings per share estimates for 2026 have increased from $6.56 to $6.77. Year to date, shares of HALO have risen 0.2%.
HALO’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 17.60%.
In the past 60 days, estimates for Allogene Therapeutics’ loss per share have narrowed from $1.24 to $1.15 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.27 to $1.17. Year to date, shares of ALLO have plunged 55.3%.
ALLO’s earnings beat estimates in three of the trailing four quarters while meeting the same on the remaining occasion, the average surprise being 11.70%.
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Kodiak Q1 Loss Wider Than Expected, Pipeline Development in Focus
Kodiak Sciences (KOD - Free Report) incurred a loss of $1.09 per share in the first quarter of 2025, wider than the Zacks Consensus Estimate of a loss of 89 cents. The company had incurred a loss of 82 cents per share in the year-ago quarter.
The company currently does not have any approved products in its portfolio. As a result, it is yet to generate revenues. (Find the latest EPS estimates and surprises on Zacks Earnings Calendar.)
KOD's Q1 Results in Detail
Research and development expenses were $43.6 million in the reported quarter, up 45.8% year over year. The increase was mainly due to increased clinical activities associated with ongoing clinical studies and increased manufacturing activities.
General and administrative expenses were $15.4 million, down 4.3% year over year, primarily due to lower non-cash stock-based compensation expenses.
As of March 31, 2025, Kodiak had cash, cash equivalents and marketable securities worth $138.9 million compared with $168.1 million as of Dec. 31, 2024. The company believes that its current cash balance is enough to support its present and planned operations into 2026.
Shares of Kodiak have plunged 60.4% year to date compared with the industry’s decline of 8.4%.
Image Source: Zacks Investment Research
KOD's Key Pipeline Updates
Kodiak is evaluating the efficacy and safety of tarcocimab in treatment-naïve patients with diabetic retinopathy (DR) in the phase III GLOW2 study. The study has completed enrolling patients.
KOD’s second clinical candidate, KSI-501, a dual inhibitor Trap-Antibody-Fusion bioconjugate molecule, is designed to target concurrent inflammation and abnormal angiogenesis observed in the pathogenesis of retinal vascular diseases.
The company is also studying tarcocimab as a second investigational arm in the DAYBREAK study to treat wet age-related macular degeneration (wet AMD), with KSI-501 being the first investigational arm.
Kodiak plans to host an investor conference in July, wherein it is likely to discuss the anticipated timeline for the top-line data from all these studies. The company will also provide an update on the enrollment completion timeline for the phase III DAYBREAK study during the same time.
Based on the success of these two pivotal studies, Kodiak plans to submit a single regulatory filing, seeking the approval of tarcocimab for three large indications — DR, wet AMD and retinal vein occlusion.
Kodiak is also enrolling patients in the phase Ib APEX study, which will evaluate its third investigational candidate, KSI-101, in two new cohorts — cohort 1 in patients with diabetic macular edema and cohort 2 in patients with macular edema secondary to inflammation. Updates from these studies are also expected in July 2025.
KSI-101 is the company’s novel, potent, high-strength bispecific protein targeting IL-6 and VEGF. Updates on the commercial opportunity for KSI-101 are also likely to be discussed at the upcoming investor conference.
Kodiak Sciences Inc. Price, Consensus and EPS Surprise
Kodiak Sciences Inc. price-consensus-eps-surprise-chart | Kodiak Sciences Inc. Quote
KOD's Zacks Rank & Stocks to Consider
Kodiak currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Halozyme Therapeutics (HALO - Free Report) and Allogene Therapeutics (ALLO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
In the past 60 days, estimates for Halozyme’s earnings per share have increased from $5.02 to $5.23 for 2025. During the same time, earnings per share estimates for 2026 have increased from $6.56 to $6.77. Year to date, shares of HALO have risen 0.2%.
HALO’s earnings beat estimates in each of the trailing four quarters, with the average surprise being 17.60%.
In the past 60 days, estimates for Allogene Therapeutics’ loss per share have narrowed from $1.24 to $1.15 for 2025. During the same time, loss per share estimates for 2026 have narrowed from $1.27 to $1.17. Year to date, shares of ALLO have plunged 55.3%.
ALLO’s earnings beat estimates in three of the trailing four quarters while meeting the same on the remaining occasion, the average surprise being 11.70%.