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Kodiak Q4 Loss Narrower Than Expected, Pipeline Development in Focus
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Kodiak Sciences (KOD - Free Report) reported a loss of 84 cents per share in the fourth quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 90 cents. The company had incurred a loss of $1.13 per share in the year-ago quarter.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The company currently does not have any approved products in its portfolio. As a result, it has yet to generate revenues.
KOD’s Q4 Results in Detail
Research and development expenses were $31.8 million in the reported quarter, down 32% year over year. The decrease was mainly due to reduced manufacturing activities and forfeitures of equity awards, partially offset by clinical activities from active studies.
General and administrative expenses were $14.4 million, down 14% year over year, primarily due to lower non-cash stock-based compensation expenses.
As of Dec. 31, 2024, Kodiak had cash, cash equivalents and marketable securities worth $168.1 million compared with $197.9 million as of Sept. 30, 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 69.2% so far this year against the industry’s growth of 3.3%.
Image Source: Zacks Investment Research
KOD’s Full-Year Results
In 2024, Kodiak did not recognize any revenues.
The company recorded a loss per share of $3.35 in 2024, narrower than the Zacks Consensus Estimate of a loss of $3.49 per share. KOD reported a loss per share of $4.97 in 2023.
Kodiak’s 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 expects to announce top-line data from the GLOW 2 study in the first quarter of 2026.
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.
Please note that 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. Top-line data from the phase III DAYBREAK study on tarcocimab and KSI-501 is anticipated in the second quarter of 2026.
Based on the success of these two pivotal studies, Kodiak plans to submit a single regulatory filing in 2026, 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 (MESI). Updates from the APEX study are expected in June 2025. KSI-101 is the company’s novel, potent, high-strength bispecific protein targeting IL-6 and VEGF.
The APEX study will evaluate the safety and tolerability, and identify two dose levels of KSI-101 to progress into late-stage development. The pivotal phase IIb/III studies (PEAK and PINNACLE) will investigate KSI-101 in MESI and are expected to be initiated in the second quarter of 2025.
In the past 30 days, estimates for Bayer’s earnings per share have increased from $1.14 to $1.19 for 2025. During the same time, earnings per share have increased from $1.23 to $1.28 for 2026. Year to date, shares of Bayer have gained 25.8%.
BAYRY’s earnings matched estimates in two of the trailing three quarters while missing the same on the remaining occasion, the average negative surprise being 19.61%.
In the past 30 days, estimates for Dynavax’s earnings per share have remained constant at 33 cents for 2025. During the same time, earnings per share have remained constant at 57 cents for 2026. Year to date, shares of DVAX have gained 7.4%.
DVAX’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 9.58%.
In the past 30 days, the estimate for Corcept Therapeutics’ 2025 earnings per share has increased from $1.85 to $1.87. The estimate for 2026 earnings per share has remained constant at $3.11. Year to date, shares of Corcept Therapeutics have gained 12.5%.
CORT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 20.08%.
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Kodiak Q4 Loss Narrower Than Expected, Pipeline Development in Focus
Kodiak Sciences (KOD - Free Report) reported a loss of 84 cents per share in the fourth quarter of 2024, narrower than the Zacks Consensus Estimate of a loss of 90 cents. The company had incurred a loss of $1.13 per share in the year-ago quarter.
Find the latest EPS estimates and surprises on Zacks Earnings Calendar.
The company currently does not have any approved products in its portfolio. As a result, it has yet to generate revenues.
KOD’s Q4 Results in Detail
Research and development expenses were $31.8 million in the reported quarter, down 32% year over year. The decrease was mainly due to reduced manufacturing activities and forfeitures of equity awards, partially offset by clinical activities from active studies.
General and administrative expenses were $14.4 million, down 14% year over year, primarily due to lower non-cash stock-based compensation expenses.
As of Dec. 31, 2024, Kodiak had cash, cash equivalents and marketable securities worth $168.1 million compared with $197.9 million as of Sept. 30, 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 69.2% so far this year against the industry’s growth of 3.3%.
Image Source: Zacks Investment Research
KOD’s Full-Year Results
In 2024, Kodiak did not recognize any revenues.
The company recorded a loss per share of $3.35 in 2024, narrower than the Zacks Consensus Estimate of a loss of $3.49 per share. KOD reported a loss per share of $4.97 in 2023.
Kodiak’s 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 expects to announce top-line data from the GLOW 2 study in the first quarter of 2026.
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.
Please note that 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. Top-line data from the phase III DAYBREAK study on tarcocimab and KSI-501 is anticipated in the second quarter of 2026.
Based on the success of these two pivotal studies, Kodiak plans to submit a single regulatory filing in 2026, 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 (MESI). Updates from the APEX study are expected in June 2025. KSI-101 is the company’s novel, potent, high-strength bispecific protein targeting IL-6 and VEGF.
The APEX study will evaluate the safety and tolerability, and identify two dose levels of KSI-101 to progress into late-stage development. The pivotal phase IIb/III studies (PEAK and PINNACLE) will investigate KSI-101 in MESI and are expected to be initiated in the second quarter of 2025.
Kodiak Sciences Inc. Price and Consensus
Kodiak Sciences Inc. price-consensus-chart | Kodiak Sciences Inc. Quote
KOD’s Zacks Rank & Stocks to Consider
Kodiak currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the sector are Bayer (BAYRY - Free Report) , Dynavax Technologies Corporation (DVAX - Free Report) and Corcept Therapeutics (CORT - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
In the past 30 days, estimates for Bayer’s earnings per share have increased from $1.14 to $1.19 for 2025. During the same time, earnings per share have increased from $1.23 to $1.28 for 2026. Year to date, shares of Bayer have gained 25.8%.
BAYRY’s earnings matched estimates in two of the trailing three quarters while missing the same on the remaining occasion, the average negative surprise being 19.61%.
In the past 30 days, estimates for Dynavax’s earnings per share have remained constant at 33 cents for 2025. During the same time, earnings per share have remained constant at 57 cents for 2026. Year to date, shares of DVAX have gained 7.4%.
DVAX’s earnings beat estimates in three of the trailing four quarters while missing the same on the remaining occasion, the average surprise being 9.58%.
In the past 30 days, the estimate for Corcept Therapeutics’ 2025 earnings per share has increased from $1.85 to $1.87. The estimate for 2026 earnings per share has remained constant at $3.11. Year to date, shares of Corcept Therapeutics have gained 12.5%.
CORT’s earnings beat estimates in three of the trailing four quarters and missed once, delivering an average surprise of 20.08%.