NASDAQ$KOD
Kodiak Sciences Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Reported business highlights and financial results for the quarter ended March 31, 2022.
Kodiak Sciences reported a net loss of $95.7 million for the first quarter of 2022 and ended the quarter with $671.7 million in cash and cash equivalents. The company is progressing with its KSI-301 Phase 3 program and anticipates four Phase 3 study readouts in 2022 and 2023.
- Implemented changes to ongoing Phase 3 studies of KSI-301 to mitigate potential risk of undertreatment.
- Completed mechanical completion of purpose-built bioconjugation facility in Visp, Switzerland.
- Progressing pipeline product candidates KSI-501 and KSI-601, with IND submission for KSI-501 expected in 2H 2022.
- Top-line data for BEACON, Phase 3 pivotal study of KSI-301 in RVO, expected in 3Q 2022.
Headline financials
Revenue & EPS history
Kodiak Sciences · Revenue · Quarterly
$0
Forward guidance
Kodiak anticipates several milestones in the near future, including announcing top-line data for the BEACON study, completing enrollment for the GLOW study, and submitting an IND for KSI-501.
Tailwinds
- Announce top-line data for BEACON, Phase 3 pivotal study of KSI-301 in RVO, in 3Q 2022
- Complete enrollment for GLOW, Phase 3 pivotal study of KSI-301 in non-proliferative diabetic retinopathy (NPDR), in 3Q 2022
- Submit IND for KSI-501, a novel bispecific antibody biopolymer conjugate, in 2H 2022
- Changes to the DME program that we believe will mitigate the potential risk of undertreatment in high-need patients
- Regulatory strategy remains intact, and we intend to include data from the BEACON, GLEAM, GLIMMER and DAYLIGHT studies in a single initial BLA, if successful
Headwinds
- Phase 2b/3 study in wet AMD did not meet its primary endpoint
- Not allowing treatment more frequent than every 12 weeks (q12w) was a fundamental flaw in the study design
- Critical undertreatment in a minority of patients
- Potential risk of undertreatment in high-need patients
- Studies may be insufficient to support regulatory submissions or approval
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2022
-1.5%
Avg return
Earnings day
-1.9%
Avg return
5 days after
+11.7%
Avg return
30 days after
48%
14 / 29 earnings
Positive
+24.4%
Q1 2023
Best reaction
-40.3%
Q4 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.8% | -14.0% | -32.6% | |
| Q4 2025 | -7.1% | +2.3% | +15.3% | |
| Q3 2025 | +3.7% | +3.5% | +26.2% | |
| Q1 2025 | -2.0% | +0.6% | +3.4% | |
| Q4 2024 | -7.2% | -12.7% | +34.6% | |
| Q3 2024 | +0.5% | +2.5% | +54.0% | |
| Q1 2024 | -2.6% | -15.1% | -26.8% | |
| Q4 2023 | -40.3% | -41.9% | -56.0% | |
| Q3 2023 | +12.2% | +38.3% | +71.1% | |
| Q2 2023 | -16.1% | -22.9% | -33.4% | |
| Q1 2023 | +24.4% | +26.3% | +92.9% | |
| Q4 2022 | +22.5% | +25.8% | -6.9% | |
| Q3 2022 | +3.9% | +5.8% | -0.1% | |
| Q2 2022 | +12.5% | +9.8% | -11.2% | |
| Q1 2022 | -4.9% | +4.3% | +60.6% | |
| Q4 2021 | +2.4% | -82.8% | -84.7% | |
| Q3 2021 | -8.3% | -7.8% | -28.2% | |
| Q2 2021 | +1.4% | +6.2% | +14.6% | |
| Q1 2021 | -19.6% | -17.3% | -22.7% | |
| Q4 2020 | -3.0% | -6.6% | -12.1% | |
| Q3 2020 | +8.0% | +7.6% | +14.3% | |
| Q2 2020 | +1.2% | -0.5% | +7.2% | |
| Q1 2020 | -2.3% | -0.6% | +13.4% | |
| Q4 2019 | -21.9% | -15.3% | -6.0% | |
| Q3 2019 | +0.4% | +25.3% | +170.1% | |
| Q2 2019 | -10.9% | +0.7% | +30.6% | |
| Q1 2019 | +15.3% | +18.1% | +59.6% | |
| Q4 2018 | -1.5% | -7.0% | +11.1% | |
| Q3 2018 | +1.1% | +12.3% | -19.4% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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