Daily newsletter · Tue 29 Sep 2026
A six-month eye injection nearly tripled Kodiak Sciences in a day
Kodiak Sciences closed at US$87.70 on Monday, up 177.96%. Its drug Zenkuda hit the primary endpoint of the phase 3 DAYBREAK study in wet age-related macular degeneration, at a p-value of 0.0007.
The number that matters is the gap between appointments. Regeneron's aflibercept, the standard treatment, goes into the eye about every two months. In the trial, 54% of patients on Zenkuda reached a 24-week gap by the end of the first year.
Every two months is about six injections a year. A 24-week gap is two. For a patient in their seventies, and for whoever drives them to the clinic, that is the whole difference.
Zenkuda matched aflibercept on vision gains at one year rather than beating it, which is the bar these studies are built to clear. A second candidate, tabirafusp-ted, also met its vision endpoint, at a p-value of 0.0036.
Kodiak now plans to file for approval in the fourth quarter, across wet AMD, diabetic retinopathy and retinal vein occlusion, on the strength of five positive phase 3 studies.
the label. A six-month interval on non-inferior data is a commercial argument, and it only works if the regulator lets Kodiak print that interval on the box. That decision sits a long way from Monday's share price.
More in
All stories →- Friday 23 October Moderna fell 17.57% after its cancer vaccine results leaked two days early
- Tuesday 6 October Moderna is up almost 600% this year on cancer data nobody has seen in full
General information and commentary only, not financial advice. It does not take account of your objectives, financial situation or needs, and reflects the author's own reading of public information at the time of writing, which may be wrong. Sharespective, its people and its clients may hold positions in the companies covered. Do your own research and talk to a licensed adviser.