NASDAQ$KOD
Kodiak Sciences Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Kodiak Sciences reported business highlights and financial results.
Kodiak Sciences reported a net loss of $59.5 million for the fourth quarter of 2023 and ended the year with $285.5 million in cash and cash equivalents. The company is progressing its three clinical assets towards Phase 3 value inflection points, including new Phase 3 studies for tarcocimab and KSI-501.
- Kodiak ended Q4 2023 with $285.5 million in cash and cash equivalents, expected to fund operations into 2026.
- GLOW1 Phase 3 study of tarcocimab in diabetic retinopathy met its primary endpoint.
- Phase 1 study results for KSI-501 in diabetic macular edema were positive, supporting further clinical development.
- New Phase 3 DAYBREAK study in wet AMD to include KSI-501 and tarcocimab investigational groups versus aflibercept targeted to start recruitment mid-2024
Headline financials
Revenue & EPS history
Kodiak Sciences · Revenue · Quarterly
$0
Forward guidance
Kodiak Sciences believes that its current cash will support operations into 2026 and is focused on progressing its late-stage clinical assets.
Tailwinds
- Existing cash will support operations into 2026.
- Advancing KSI-501 into a Phase 3 pivotal study (DAYBREAK) in patients with wet AMD later this year
- Planning to advance KSI-101 into a Phase 1b study to evaluate its safety and tolerability
- Initiated a GLOW2 Phase 3 pivotal study which is already actively enrolling patients
- Both DAYBREAK and GLOW2 will use tarcocimab’s new go-to-market formulation.
Headwinds
- Cessation or delay of any of the on-going clinical studies and our development of tarcocimab or KSI-501 may occur
- The BEACON and/or GLOW1 and/or GLOW2 and/or DAYLIGHT results may not provide the evidence, insights, or benefits as anticipated
- Safety, efficacy, and durability data observed in our product candidates in current or prior studies may not continue or persist
- A BLA may not be accepted by, or receive approval from, the FDA or foreign regulatory agencies when expected, or at all
- Our 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 Q4 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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