Kodiak Sciences shares jump on positive Phase 3 results for Zenkuda in wet AMD
Kodiak Sciences announced that its Phase 3 DAYBREAK trial showed Zenkuda met its primary vision endpoint in wet age‑related macular degeneration, with a p‑value of 0.0007 and non‑inferior vision gains versus aflibercept. The data triggered a surge in the stock, which rose 2.7% to $97.34 and briefly topped $100 before pulling back below $90. Analysts upgraded their price targets, and the company opened the biologics license application window for Zenkuda, planning a submission in the fourth quarter of 2026.
Why it matters
Analysts such as UBS and Goldman Sachs raised their price targets, indicating expectations of higher commercial potential for Zenkuda (the company says the BLA window opened today). The stock’s rapid rise and subsequent pullback suggest heightened volatility as investors weigh the trial success against profit‑taking pressures.
Key facts
- 1Kodiak Sciences stock rose 2.7% to $97.34 in morning trading. investing.com
- 2The stock reached a 52‑week high of $104 intraday. investing.com
- 3Zenkuda met the primary endpoint in the DAYBREAK study with a p‑value of 0.0007. fxleaders.com
- 4Intraocular inflammation was reported at 0% and cataract adverse events at 0.5% for Zenkuda. fxleaders.com
- 5The stock surged more than 300% to move above $100 before falling below $90. fxleaders.com
- 6Kodiak plans to submit a multi‑indication biologics license application for Zenkuda in Q4 2026. fxleaders.com
Summary written by AlphAI from 2 of 2 sources. Not investment advice. Figures are as stated by the linked sources.