Shares of Kodiak Sciences Inc. (KOD) surged over 53% on Thursday morning after the company reported strong Phase 3 clinical results of Zenkuda.
The stock is currently trading at $34.76, up $12.01 or 52.79%, on the Nasdaq. It opened at $35.68 after closing the previous session at $22.75. The stock has traded between $1.92 and $38.93 over the past 52 weeks.
Kodiak Sciences announced positive topline results from its Phase 3 GLOW2 study, where Zenkuda (tarcocimab tedromer) demonstrated superiority over sham in treating diabetic retinopathy.
In the trial, 62.5% of patients treated with Zenkuda achieved at least a 2-step improvement in disease severity, compared to 3.3% in the control group.
The therapy also showed an 85% reduction in risk of sight-threatening complications and demonstrated strong efficacy regardless of GLP-1 drug use.
Zenkuda was well tolerated, with no intraocular inflammation reported and a low rate of adverse events.
Following these results, the company said Zenkuda now has a Biologics License Application (BLA)-ready profile and plans to accelerate regulatory submission timelines, boosting investor optimism.
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