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Kodiak Stock Rises 35% in 3 Months: Here's What You Need to Know
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Key Takeaways
Kodiak reported positive phase III GLOW2 data, with Zenkuda meeting its primary endpoint.
KOD accelerated Zenkuda regulatory plans after strong efficacy, durability and safety results.
Kodiak advanced KSI-101 into two phase III studies, with key data due in 2026 and 2027.
Shares of Kodiak Sciences (KOD - Free Report) have risen 34.6% over the past three months against the industry’s 9.5% decline. The rally reflects growing investor confidence in the company's late-stage ophthalmology pipeline, upcoming data readout and a decent financial position.
Image Source: Zacks Investment Research
The company’s lead programs — Zenkuda (tarcocimab tedromer), KSI-501 and in particular KSI-101 — are in late-stage development for common and serious retinal indications such as diabetic retinopathy (DR), wet age-related macular degeneration (wet AMD) and macular edema.
KOD’s Positive Phase III GLOW2 Study Data — A Key Catalyst
Kodiak announced positive top-line data from the phase III GLOW2 study in March, evaluating Zenkuda for the treatment of patients with DR. The study met its primary endpoint with high statistical significance. 62.5% of the patients treated with Zenkuda achieved more than a two-step improvement in the diabetic retinopathy severity score (DRSS) versus 3.3% in the sham group. Zenkuda met both the key secondary endpoints. Zenkuda demonstrated consistent efficacy regardless of GLP-1 use, with 60.0% of patients on GLP-1 therapy and 64.3% of those not on GLP-1 therapy achieving more than a two-step improvement in DRSS from baseline to week 48.
The GLOW2 study confirms Zenkuda’s robust efficacy, durable dosing profile and favorable safety, positioning the therapy as a potentially transformative treatment option across a wide spectrum of DR patients.
Based on strong safety, efficacy and durability data from GLOW2, Zenkuda achieved a multi-indication, approval-ready profile, leading Kodiak to accelerate its regulatory submission timeline. This boosted investor confidence, as successful commercialization could transform Kodiak from a clinical-stage biotech into a revenue-generating company.
Beyond DR, the company is studying Zenkuda as a second investigational arm in the phase III DAYBREAK study for the treatment of wet AMD, with KSI-501, the second pipeline candidate, being the first investigational arm. KOD has completed enrollment in the study. Top-line data from both arms of the DAYBREAK study are anticipated in September 2026.
Positive outcomes would be potentially supporting regulatory filings across three major indications — wet AMD, DR and retinal vein occlusion. Potential approvals could significantly enhance the company's prospects.
KSI-501 is a dual inhibitor Trap-Antibody-Fusion bioconjugate molecule designed to target concurrent inflammation and abnormal angiogenesis observed in the pathogenesis of retinal vascular diseases.
Kodiak has advanced KSI-101, its third clinical candidate, into two pivotal phase III studies — PEAK and PINNACLE — for the treatment of patients with macular edema secondary to inflammation (MESI). Both studies are currently enrolling patients, with top-line results expected in late 2026 and early 2027, respectively.
KOD Strengthens Its Financial Position
With no debt, Kodiak's balance sheet has remained sufficient to support ongoing clinical and regulatory activities, reducing concerns about near-term financing risk.
Over the past 30 days, earnings per share estimates for Indivior Pharmaceuticals remained unchanged at $4.05 for 2026 and $4.27 for 2027. INDV shares have lost 1.3% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 30 days, estimates for Liquidia’s 2026 earnings per share have increased to $2.97 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.81 from $2.91. LQDA shares have surged 61.5% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.
Over the past 30 days, loss per share estimates for Immunocore’s 2026 have improved from 88 cents to earnings per share of 6 cents. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 17.5% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 46.66%.
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Kodiak Stock Rises 35% in 3 Months: Here's What You Need to Know
Key Takeaways
Shares of Kodiak Sciences (KOD - Free Report) have risen 34.6% over the past three months against the industry’s 9.5% decline. The rally reflects growing investor confidence in the company's late-stage ophthalmology pipeline, upcoming data readout and a decent financial position.
Image Source: Zacks Investment Research
The company’s lead programs — Zenkuda (tarcocimab tedromer), KSI-501 and in particular KSI-101 — are in late-stage development for common and serious retinal indications such as diabetic retinopathy (DR), wet age-related macular degeneration (wet AMD) and macular edema.
KOD’s Positive Phase III GLOW2 Study Data — A Key Catalyst
Kodiak announced positive top-line data from the phase III GLOW2 study in March, evaluating Zenkuda for the treatment of patients with DR. The study met its primary endpoint with high statistical significance. 62.5% of the patients treated with Zenkuda achieved more than a two-step improvement in the diabetic retinopathy severity score (DRSS) versus 3.3% in the sham group. Zenkuda met both the key secondary endpoints. Zenkuda demonstrated consistent efficacy regardless of GLP-1 use, with 60.0% of patients on GLP-1 therapy and 64.3% of those not on GLP-1 therapy achieving more than a two-step improvement in DRSS from baseline to week 48.
The GLOW2 study confirms Zenkuda’s robust efficacy, durable dosing profile and favorable safety, positioning the therapy as a potentially transformative treatment option across a wide spectrum of DR patients.
Based on strong safety, efficacy and durability data from GLOW2, Zenkuda achieved a multi-indication, approval-ready profile, leading Kodiak to accelerate its regulatory submission timeline. This boosted investor confidence, as successful commercialization could transform Kodiak from a clinical-stage biotech into a revenue-generating company.
Kodiak Sciences Inc. Price and Consensus
Kodiak Sciences Inc. price-consensus-chart | Kodiak Sciences Inc. Quote
KOD’s Advancements Across Other Clinical Programs
Beyond DR, the company is studying Zenkuda as a second investigational arm in the phase III DAYBREAK study for the treatment of wet AMD, with KSI-501, the second pipeline candidate, being the first investigational arm. KOD has completed enrollment in the study. Top-line data from both arms of the DAYBREAK study are anticipated in September 2026.
Positive outcomes would be potentially supporting regulatory filings across three major indications — wet AMD, DR and retinal vein occlusion. Potential approvals could significantly enhance the company's prospects.
KSI-501 is a dual inhibitor Trap-Antibody-Fusion bioconjugate molecule designed to target concurrent inflammation and abnormal angiogenesis observed in the pathogenesis of retinal vascular diseases.
Kodiak has advanced KSI-101, its third clinical candidate, into two pivotal phase III studies — PEAK and PINNACLE — for the treatment of patients with macular edema secondary to inflammation (MESI). Both studies are currently enrolling patients, with top-line results expected in late 2026 and early 2027, respectively.
KOD Strengthens Its Financial Position
With no debt, Kodiak's balance sheet has remained sufficient to support ongoing clinical and regulatory activities, reducing concerns about near-term financing risk.
KOD's Zacks Rank & Stocks to Consider
Kodiak currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the biotech sector are Indivior Pharmaceuticals (INDV - Free Report) , Liquidia Corporation (LQDA - Free Report) and Immunocore (IMCR - Free Report) , each currently sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Over the past 30 days, earnings per share estimates for Indivior Pharmaceuticals remained unchanged at $4.05 for 2026 and $4.27 for 2027. INDV shares have lost 1.3% year to date.
Indivior Pharmaceuticals’ earnings beat estimates in each of the trailing four quarters, with the average surprise being 65.44%.
Over the past 30 days, estimates for Liquidia’s 2026 earnings per share have increased to $2.97 from $1.50. Over the same period, EPS estimates for 2027 have risen to $4.81 from $2.91. LQDA shares have surged 61.5% year to date.
Liquidia’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 54.40%.
Over the past 30 days, loss per share estimates for Immunocore’s 2026 have improved from 88 cents to earnings per share of 6 cents. Over the same period, EPS estimates for 2027 have risen from 24 cents to 87 cents. IMCR shares have lost 17.5% year to date.
Immunocore’s earnings beat estimates in three of the trailing four quarters and missed in the remaining one, with the average surprise being 46.66%.