Shares of Kodiak Sciences (KOD) jumped nearly 40% in pre-market trading on Thursday, after the pharmaceutical firm reported positive Phase 3 results for its eye drug Zenkuda to treat patients with diabetic retinopathy.
The study met its primary endpoint as a total of 62.5% of patients treated with Zenkuda achieved at least a two-step improvement in DRSS score, a measure of severity, by week 48, compared with just 3.3% in the control group. The drug also reduced the risk of sight-threatening complications by 85% through Week 48.
Zenkuda delivered consistent benefits regardless of GLP-1 use, with 60% of patients on GLP-1 therapies achieving a two-step DRSS improvement by Week 48, compared to 64.3% among those not using GLP-1 drugs. The treatment was well tolerated, with no cases of intraocular swelling and low rates of side effects.
“We now have a multi-indication BLA-ready profile for Zenkuda, and we intend to accelerate our BLA submission plans,” said Victor Perlroth, CEO of Kodiak Sciences.
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