Kodiak Sciences shares jump after Phase 3 DAYBREAK trial meets primary endpoints
Kodiak Sciences reported that its Phase 3 DAYBREAK trial in wet age‑related macular degeneration met primary endpoints for both Zenkuda and tabirafusp‑ted, showing vision gains non‑inferior to aflibercept. The news lifted the stock about 8.56% on October 15, 2026. Analysts quickly raised price targets, with LifeSci Capital moving its target to $145 and Jefferies to $112. The company remains pre‑revenue, holding roughly $132.1 million in cash but burning about $46.2 million of operating cash in the quarter.
Why it matters
The trial success re‑rates the company, prompting analysts to lift targets, which could support higher share prices for investors. The cash position and burn rate indicate the firm has runway to pursue regulatory filings while still being cash‑flow negative.
Key facts
- 1Kodiak Sciences stock rose 8.56% on October 15, 2026. timothysykes.com
- 2The Phase 3 DAYBREAK trial met its primary endpoints for Zenkuda and tabirafusp‑ted, showing non‑inferior vision gains to aflibercept. timothysykes.com
- 3LifeSci Capital increased its price target for KOD to $145. timothysykes.com
- 4Jefferies raised its price target for KOD to $112. timothysykes.com
- 5Kodiak held about $132.1 million in cash as of June 30, 2026. timothysykes.com
- 6Operating cash outflow for the quarter was roughly $46.2 million and net loss about $65.6 million. timothysykes.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.