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- 1 The main goal is to see the results after one year – about how much a diabetic eye recovered.
- 2 The KOD stock showed positive performance last month with a 13.97% surge.
- 3 Kodiak Sciences published a detailed and optimistic press release.
On Monday, Kodiak Sciences (KOD) reported that its main drug candidate, tarcocimab tedromer, which will be a cure for a type of diabetic eye disease, met its primary and key secondary goals in a Phase 3 GLOW study.
However, the company said it will do one more final study before applying for FDA approval for this drug.
Basically, the GLOW study is a worldwide, large-scale study that compares the effectiveness and safety of tarcocimab tedromer.
Patients are randomly assigned to get either tarcocimab every six months after three initial doses at the start, 8 weeks, and 20 weeks of the study.
The main goal of this drug is to deliver the appropriate results after one year of testing. The results include how much the diabetic eye damage improved, based on a standard scale of photos, and how many tarcocimab-treated patients avoided a serious eye complication due to diabetic retinopathy.
Moreover, the drug is intended to treat macular edema following retinal vein occlusion (RVO), wet age-related macular degeneration (wAMD), and GLOW’s target, non-proliferative diabetic retinopathy (NPDR).
Kodiak (KOD) stopped further studies on tarcocimab last year after it failed in two trials for diabetic macular edema (DME) and decided to review the data from GLOW and another pivotal trial for RVO.
According to the company, NPDR patients who got tarcocimab every 24 weeks showed more improvement on a scale that measures diabetic eye damage than those who got a control treatment, achieving the main goal of the GLOW study.
The study also met all other important goals, such as reducing the risk of serious eye complications and DME. Moreover, the drug was safe and did not cause more eye problems or inflammation than the control treatment.
How This Drug Can Affect the KOD Stock Price
The fate of the KOD stock price depends on how the market reacts to the news about the drug tarcocimab tedromer for diabetic eye diseases.
The drug could be a big success for Kodiak Sciences, as it aims to treat a huge and growing population of diabetic patients who are at risk of losing their sight.
The drug has an edge over other treatments, as it can be given less frequently and can prevent and treat DME, a serious eye problem caused by diabetes.
The drug could bring in a lot of money for Kodiak if it gets approved by the FDA and works well for other eye conditions.
Conversely, the news could also make some investors lose faith in the drug, as it still needs one more study before it can be submitted for approval.
The drug also faces competition from other companies that are working on new therapies for diabetic eye diseases. These companies could offer better or cheaper alternatives to tarcocimab tedromer.
About Kodiak Sciences Inc.
Kodiak Sciences (Nasdaq: KOD) is a biopharmaceutical company that creates and markets novel therapies for retinal diseases that are prevalent and can lead to blindness. The company uses cutting-edge science to develop improved retinal medicines that can address the major causes of blindness globally.
The company’s ABC Platform™ is the foundation of its discovery engine. It enables the company to produce antibody biopolymer conjugates, or ABCs, which are innovative drugs that target specific molecules in the eye. The company’s first drug candidate, tarcocimab tedromer, is an ABC that inhibits a molecule called VEGF, which triggers the growth of abnormal blood vessels in the eye.
The company is evaluating this drug for various retinal diseases that involve vascular complications. The company’s second drug candidate, KSI-501, is a bispecific protein that attaches to two molecules, IL-6 and VEGF, which are both implicated in inflammation and vascular growth in the eye. The company is assessing this drug for both rare and common retinal diseases.
What the Charts Show
The stock is under downward pressure all along. However, the KOD stock showed positive performance last month, surging 13.97% and 40.69% over the past week.
Moreover, the balance sheet highlights that its assets and liabilities are managing the Debt-assets ratio and keeping the company DTA below moderate.
Summary
The KOD stock price could go up or down depending on how the market reacts to the news about the drug tarcocimab tedromer for diabetic eye diseases.
The drug could be a big success for Kodiak Sciences, as it aims to treat a huge and growing population of diabetic patients who are at risk of losing their sight. However, the KOD stock surged 13.97% last month and 40.69% over the past week.
Technical Levels
Support Levels: $2.20 and $2.40
Resistance Levels: $1.80 and $1.60
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
