NASDAQ$KOD
Kodiak Sciences Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Kodiak Sciences reported a net loss for Q2 2023 and provided updates on its tarcocimab and KSI-501 clinical programs.
Kodiak Sciences Inc. reported its second quarter 2023 financial results, highlighting a net loss of $80.2 million, progress with the KSI-501 clinical program, and the decision to wind down ongoing tarcocimab studies due to unfavorable Phase 3 GLEAM and GLIMMER study results.
- Phase 3 GLEAM and GLIMMER studies of tarcocimab in diabetic macular edema did not meet primary efficacy endpoints due to an unexpected increase in cataract adverse events.
- Phase 3 DAYLIGHT study of tarcocimab in wet age-related macular degeneration met the primary efficacy endpoint.
- Kodiak Sciences will wind down ongoing clinical studies of tarcocimab.
- Phase 1 study of KSI-501, a first-in-class bispecific investigational medicine, has completed enrollment of patients across all dose levels.
Headline financials
Revenue & EPS history
Kodiak Sciences · Revenue · Quarterly
$0
Forward guidance
Kodiak Sciences is focused on the potential benefits of KSI-501 and is planning to explore an accelerated development pathway. The company is also evaluating future options for the tarcocimab program and planning to expand the research pipeline.
Tailwinds
- KSI-501 has the potential to be a first-in-class bispecific investigational medicine inhibiting both VEGF and IL-6.
- Kodiak Sciences can apply a tailored clinical development plan to KSI-501 based on learnings from the tarcocimab clinical program and the ABC platform.
- The company expects to seek an accelerated development pathway through orphan and/or breakthrough therapy designation applications with KSI-501.
- Kodiak Sciences plans to expand its research pipeline.
- Company is exploring development of KSI-501 in two therapeutic forms.
Headwinds
- Cessation or delay of any of the ongoing clinical studies and our development of KSI-501 may occur.
- Future potential regulatory milestones of tarcocimab or KSI-501 may be insufficient to support regulatory submissions or approval.
- Research and development efforts and our ability to advance our product candidates into later stages of development may fail.
- KSI-501 may not inhibit VEGF and IL-6 or have an impact on the treatment of patients as expected.
- Manufacturing facilities may not operate as expected.
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 Q2 2023
-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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