This Biotech Company Added Nearly $3B To Its Market Cap – Here’s Why KOD Stock Is Ripping Today

• Zenkuda and Tabirafusp-ted produced vision improvements that were statistically non-inferior to Aflibercept, an established treatment for the eye disease.
• Fifty-four percent of patients receiving Zenkuda were able to continue for six months between treatments while maintaining disease control.
• Kodiak plans to submit a BLA with the FDA for Zenkuda in Q4.

Shares of Kodiak Sciences (KOD) more than doubled after the opening bell on Monday as both of its experimental therapies met the primary goal of a Phase 3 study in patients with wet age-related macular degeneration.

Wet AMD is an eye disease in which abnormal blood vessels grow under the retina and leak fluid or blood, potentially causing vision loss.

KOD shares were up nearly 160% at the time of writing and heading for their biggest ever single-day gains. KOD stock was also trading at its highest levels since January 2022.

Kodiak has added roughly $3 billion to its market capitalization as of this writing, following Monday's rally.

Zenkuda Shows Six-Month Durability

In the Phase 3 study, both Zenkuda and Tabirafusp-ted produced vision improvements that were statistically non-inferior to Aflibercept, an established treatment for wet AMD.

Meanwhile, 54% of patients receiving Zenkuda were able to go six months between treatments while maintaining disease control. This is crucial as longer-lasting treatments could potentially reduce the number of eye injections patients need.

“These Zenkuda data bring us closer to the best possible outcomes with fewer injections. I look forward to offering Zenkuda to my patients, if approved,” said David M. Brown, Chief Medical Officer at Retina Consultants of America.

FDA Filing Planned This Year

Kodiak plans to submit a Biologics License Application (BLA) to commercialize Zenkuda in the fourth quarter (Q4), supported by five successful Phase 3 studies across three diseases.

In addition to wet AMD, Zenkuda has been tested in diabetic retinopathy, where diabetes damages blood vessels in the retina, and retinal vein occlusion, where a blocked vein causes blood and fluid to build up in the retina.

Kodiak is also developing Tabirafusp-ted for diabetic macular edema, a diabetes-related buildup of fluid in the retina, and KSI-101 for macular edema caused by inflammation. Phase 3 KSI-101 results are expected in December.

Kodiak ended June with $125.9 million in cash and cash equivalents, giving the company an expected runway into 2027 as it advances its late-stage eye-disease pipeline.

Retail Says KOD Is Overbought

Retail sentiment surrounding KOD on Stocktwits remained in the ‘extremely bullish’ territory over the past 24 hours, amid ‘extremely high’ message volumes. KOD was also among the top trending stocks at the time of writing.  

One user believes that the stock is “overbought a touch.”

The stock has surged more than 160% so far in 2026.

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