Roth Capital upgrades Kodiak Sciences to Buy on recent selloff » 09:3605/1105/11/21
Roth Capital analyst…
Roth Capital analyst Zegbeh Jallah upgraded Kodiak Sciences to Buy from Neutral with a price target of $149, down from $155. Most notable in yesterday's earnings update was the announcement that Kodiak will now be initiating an additional Phase 3 wet age-related macular degeneration study to support four-week interval dosing of its lead drug, KSI-301, Jallah tells investors in a research note. The analyst finds the change necessary given Beovu's label challenges, and does not expect this to significantly shift the Biologics License Application timeline. With recent setbacks facing competitors, KSI-301's commercial outlook "remains strong," says Jallah. She believes the recent pullback in shares of Kodiak Sciences presents a buying opportunity.
Kodiak Sciences upgraded to Buy from Neutral at Roth Capital » 09:3205/1105/11/21
Roth Capital analyst…
Roth Capital analyst Zegbeh Jallah upgraded Kodiak Sciences to Buy from Neutral with a $149 price target.
Kodiak Sciences price target lowered to $104 from $138 at BMO Capital » 06:5205/1105/11/21
BMO Capital analyst…
BMO Capital analyst Matthew Luchini lowered the firm's price target on Kodiak Sciences to $104 from $138 and keeps a Market Perform rating on the shares. The company's Q1 earnings missed expectations and while the new monthly phase 3 wAMD trial should help with labeling, it also adds incremental execution risk that comes with manufacturing site construction delays from COVID-19 vaccine competition, the analyst tells investors in a research note. Luchini is updating his model with assumption of higher spending, BLA launch timing, and a 0.5% higher discount rate on greater overall program risk for Kodiak shares.
Kodiak Sciences price target lowered to $86 from $90 at Barclays » 06:5205/1105/11/21
Barclays analyst Gena…
Barclays analyst Gena Wang lowered the firm's price target on Kodiak Sciences to $86 from $90 and keeps an Underweight rating on the shares post the Q1 results.
Kodiak Sciences files to sell 14.03M shares of common stock for holders 17:3305/1005/10/21
Kodiak Sciences reports Q1 EPS (98c), consensus (97c) » 05:4305/1005/10/21
Kodiak ended Q1 with…
Kodiak ended Q1 with $929M of cash, cash equivalents and marketable securities. "Developing and launching a novel anti-VEGF medicine with extended durability is the central principle of our KSI-301 development program, and in the last quarter we have continued to make substantial progress in the recruitment of our pivotal studies evaluating long-interval dosing of KSI-301," said Jason Ehrlich, CMO of Kodiak. "Our wet AMD pivotal study, DAZZLE, is fully enrolled, and our RVO and DME pivotal studies are all recruiting globally. Each is evaluating KSI-301's potential for best-in-class dosing regimens. Towards our goal of having KSI-301 be the anti-VEGF medicine of choice for all eligible patients, and through our continued engagement with the retina community, we have also learned that physicians and retina practices would like to see our labeling for KSI-301 include the option for more frequent dosing. This reduces barriers to reimbursement that have impeded the commercial uptake of other anti-VEGF medications in the past. A study of more intensive dosing also allows us to explore the potential for improved treatment outcomes in certain patients. Thus, we are launching the DAYLIGHT study which will evaluate monthly dosing of KSI-301 in patients with wet AMD. We believe that pursuing a very broad product label will provide physicians with the flexibility, agency, and reimbursement confidence required to individualize treatment for their patients. Based on our discussions with regulators, we also believe the DAYLIGHT study will provide the safety database needed to support monthly labeling not only in wet AMD but in the DME and RVO indications in the US as well. We expect recruitment in DAYLIGHT will begin in the summer of 2021, and we plan to include data from this fifth pivotal study of KSI-301 in our initial BLA submission."
|Over a week ago|
Truist to hold a virtual summit » 09:0205/0405/04/21
INFI, XAIR, KOD, ARCT, SIBN, EXEL, AFIB, APTX, CNCE, EBS, FRLN, LMAT, LTRN, NMTR, STTK
7th Annual Securities…
7th Annual Securities Life Virtual Summit will be held on May 4-5.
Kodiak Sciences price target raised to $147 from $89 at Truist » 08:1805/0405/04/21
Truist analyst Robyn…
Truist analyst Robyn Karnauskas raised the firm's price target on Kodiak Sciences to $147 from $89 and keeps a Buy rating on the shares. The analyst says that her research into potential market share for KSI-301 suggests that some practices will want to use KSI-301 and biosimilars and have also done their own cost-benefit analysis of using a less frequently dosed drug that could still be profitable. Karnauskas adds that she has updated her model, with peak market share going up to 20% from 15% across wAMD, DME and RVO.
|Over a month ago|
Kronos Bio appoints Taiyin Yang to board of directors » 08:0703/2603/26/21
KRON, GILD, KOD
Kronos Bio (KRON)…
Kronos Bio (KRON) announced the appointment of Taiyin Yang, Ph.D., to the company's board of directors. Yang has more than four decades of experience in developing and manufacturing medicines in a variety of therapeutic categories. Additionally, Jakob Loven has notified the company that he will not stand for re-election at the company's 2021 Annual Meeting of Stockholders. Yang currently serves as the executive vice president of Pharmaceutical Development and Manufacturing at Gilead Sciences (GILD), with responsibility for all the company's investigational compounds and marketed products. In addition to Kronos Bio, Yang is currently a member of the board of directors of Kodiak Sciences (KOD).
Kodiak Sciences initiated with an Outperform at Evercore ISI » 17:2503/1103/11/21
KOD, REGN, RHHBY
Evercore ISI analyst Umer…
Evercore ISI analyst Umer Raffat initiated coverage of Kodiak Sciences (KOD) with an Outperform rating. The analyst sees the company's construct as "quite interesting" ahead of a "huge" binary event in wet AMD later this year / in early 2022. Kodiak has a very real shot at showing efficacy differentiation vs. Roche's (RHHBY) faricimab and Regeneron's (REGN) Eylea, Raffat tells investors in a research note.