Kodiak Sciences Inc (KOD): What’s the Chance of Success for Zenkuda?

Kodiak Sciences Inc (NASDAQ:KOD) is among the best 52-week high US stocks to buy. On March 27, H.C. Wainwright boosted its price target on Kodiak Sciences Inc (NASDAQ:KOD) to $58 from $38 and reiterated a Buy rating on the shares. The firm raised its price target after positive Phase 3 GLOW2 trial results for tarcocimab tedromer in diabetic retinopathy.

Photo grabbed from Roivant Sciences website

On March 26, Kodiak announced positive results from a Phase 3 trial of its experimental drug called Zenkuda (tarcocimab tedromer). Zenkuda is being evaluated as a treatment for patients with diabetic ​retinopathy. This is a diabetes-related eye complication that can result in a loss of vision. The company says that around 9.7 million people in the US live with diabetic retinopathy.

In that study, 62.5% of patients treated with Zenkuda showed at least a two-step improvement in retinopathy severity. That compared with 3.3% of patients who received a sham treatment. With that, Zenkuda met the main goal of the trial.

Additionally, Zenkuda showed superiority to sham treatment in a secondary endpoint. In this case, patients who received Zenkuda treatment showed an 85% reduction in the risk of developing sight-threatening complications.

In light of these trial results, H.C. Wainwright increased its probability of success for Zenkuda in diabetic retinopathy from 35% to 70%. Moreover, the firm raised its probability of success for Zenkuda and KSI-501 in wet age-related macular degeneration from 35% to 60%.

Kodiak Sciences Inc (NASDAQ:KOD), based in Palo Alto, California, is a biopharmaceutical company focused on developing advanced therapies for retinal diseases. The company aims to improve on the existing therapies by offering next-generation medicines to help prevent blindness.

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