Kodiak Sciences Q3 net loss widens as R&D expenses rise
KOD•Kodiak Sciences reported a third-quarter net loss of $66.22 million, or $1.05 per share, as research and development expenses increased. It ended the quarter with $88.7 million in cash and raised $69 million through an equity offering afterward.
1. Quarterly results
Kodiak Sciences reported third-quarter operating expenses of $67.1 million and a net loss of $66.22 million, or $1.05 per share. The company said higher research and development expenses mainly reflected increased clinical and manufacturing activity for its PEAK/PINNACLE and ALTO studies. General and administrative expenses fell due to a non-recurring gain from a lease termination.
2. Pipeline and cash
Kodiak expects to submit a biologics license application for Zenkuda for three indications by the end of 2026 and plans to announce its first Phase 3 KSI-101 results in December 2026. The company said its $88.7 million in quarter-end cash, together with $69 million raised after the quarter through an equity offering, is expected to support operations into 2027.
