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Kodiak Sciences Inc (KOD-8.43%). has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's research and development activities, focusing on its three main clinical programs: tarcocimab, KSI-501, and KSI-101. Tarcocimab is being developed for the treatment of retinal vascular diseases and is currently in Phase 3 trials, while KSI-501 and KSI-101 are in various stages of clinical development.
Kodiak reported a net loss of $176.2 million for 2024, compared to $260.5 million in 2023. The decrease in net loss was attributed to reduced research and development expenses, which fell by $80.2 million due to decreased manufacturing activities and clinical trial costs.
The company had $168.1 million in cash and cash equivalents as of December 31, 2024, and plans to raise additional capital to continue its operations and fund further research and development.
Kodiak's lead investigational medicine, tarcocimab, is being studied in two Phase 3 clinical trials: GLOW2 in diabetic retinopathy and DAYBREAK in wet age-related macular degeneration. The company expects to announce topline data for these studies in 2026.
The company continues to advance its Antibody Biopolymer Conjugate Drug (ABCD) Platform, which aims to embed small molecules into its proprietary biopolymer backbone to create high drug-antibody ratio medicines.
Kodiak's financial statements highlight the company's accumulated deficit of $1,328.7 million as of December 31, 2024, and its ongoing need for additional funding to sustain operations and continue development activities.
The filing also outlines the company's efforts to manage cybersecurity risks and its strategy for addressing potential threats to its information systems and data.
Kodiak's management has expressed substantial doubt about the company's ability to continue as a going concern, citing the need for additional capital to support its operations beyond the next 12 months.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Kodiak Sciences Inc annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.