Kodiak Sciences (KOD) reported its Q1 2025 financial results and business updates. The company ended Q1 with $138.9 million in cash, expected to fund operations into 2026. The quarter saw a net loss of $57.5 million ($1.09 per share), compared to $43.0 million ($0.82 per share) in Q1 2024. R&D expenses increased to $43.6 million from $29.9 million year-over-year, while G&A expenses slightly decreased to $15.4 million.
The company is advancing as a precommercial stage retina-focused biotech with three Phase 3 assets targeting topline data in 2026. Kodiak plans to host an Investor R&D Update on July 16, 2025, featuring updates on their pipeline including Tarcocimab (GLOW2 and DAYBREAK studies), KSI-501, and KSI-101's APEX Phase 1b trial results.
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