Kodiak Sciences Upcoming Data Could Support Upside, UBS Says
Kodiak Sciences (KOD) upcoming phase III wet AMD data could provide upside following the stock's recent pullback, amid expectations that tarcocimab and KSI-501 will achieve non-inferiority, UBS said in a note.UBS expects tarcocimab to meet non-inferiority to Eylea 2mg in the DAYBREAK trial, with dosing intervals potentially reaching 3 to 3.5 months. The company is expected to report topline data by the end of September, with a presentation at the American Academy of Ophthalmology (AAO) on Oct. 9, UBS said.UBS also expects KSI-501 to meet non-inferiority, while any numerically superior trends would provide additional upside. The bank also expects December data as another potential catalyst.UBS maintained a buy rating with an $80 price target.Price: $30.78, Change: $-0.74, Percent Change: -2.35%
