Why Kodiak Sciences Skyrocketed Today
Yahoo Finance ·
Shares of Kodiak Sciences ( KOD +177.96% ) soared 178% on Monday after the eye medicine developer announced positive clinical trial results for two of its leading investigational drug candidates. Kodiak said Zenkuda and KSI-501 met their primary endpoints in a Phase 3 clinical study in patients with wet age-related macular degeneration, a serious eye condition in which abnormal blood vessels grow beneath the retina and leak fluid, which can lead to rapid vision loss. Zenkuda's results were particularly encouraging, with rapid and long-lasting therapeutic effects and a favorable safety profile. Chief medical officer J. Pablo Velazquez-Martin said the study demonstrated the attributes Kodiak designed Zenkuda to achieve, including "rapid disease control in wet AMD and the potential for six-month durability under stringent treat-to-dryness retreatment criteria."
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