Kodiak Sciences Discontinues Development of Experimental Eye Drug; Shares Plummet 40%
Kodiak Sciences Inc. (NASDAQ: KOD) will discontinue the development of its experimental eye drug, tarcocimab, following receiving topline results from its three Phase 3 studies.
The company’s GLEAM and GLIMMER studies did not meet their primary efficacy endpoints and an unexpected increase in cataracts was observed in patients over time. Based on these data, Kodiak will discontinue further development of tarcocimab.
Kodiak’s DAYLIGHT study was a randomized, double-masked, active comparator-controlled study evaluating the efficacy and safety of a high intensity dosing regimen of tarcocimab tedromer in 557 treatment-naïve subjects with wet age-related macular degeneration (AMD). The study met its primary endpoint and was found to be safe and well-tolerated by subjects.
The GLEAM and GLIMMER studies are identically designed, randomized, double-masked, active comparator-controlled studies evaluating the efficacy, durability and safety of tarcocimab tedromer in 460 and 457 treatment-naïve subjects with diabetic macular edema (DME), respectively.
Dr. Victor Perlroth, MD, Kodiak’s Chief Executive Officer, said, “We are deeply disappointed with the GLEAM and GLIMMER outcome. We recognize the risks inherent to innovative drug development and expect to continue to work towards the goal of translating our capabilities and substantive cash position into value for our stakeholders.”
Kodiak (Nasdaq: KOD) is a biopharmaceutical company committed to researching, developing and commercializing transformative therapeutics to treat high prevalence retinal diseases. We are focused on bringing new science to the design and manufacture of next generation retinal medicines to prevent and treat the leading causes of blindness globally. KSI-501 is Kodiak’s first-in-class bispecific investigational medicine targeting both IL-6 (anti-IL-6 antibody) and VEGF (VEGF-trap) and is being investigated in a Phase 1 clinical study initially in patients with diabetic macular edema. We are expanding our early research pipeline to include ABC Platform based triplet inhibitors for multifactorial diseases. Kodiak is based in Palo Alto, CA. For more information, please visit www.kodiak.com.