KOD - Kodiak Sciences sinks on wet AMD confusion

Kodiak Sciences ([[KOD]] -13.1%) met analyst expectations with its Q1 financials for 2021. But the stock is trading sharply lower after the company updated its clinical trial progress and the path for licensure for KSI-301.Kodiak was advancing KSI-301 in four pivotal studies towards its multi-indication marketing application for wet AMD (age-related macular degeneration), DME (Diabetic macular edema), RVO (retinal vein occlusion), and non-proliferative DR (Diabetic retinopathy without DME).To the clinical development plan for the initial BLA, the company has added another pivotal study delaying a potential regulatory submission to Q1 2023 from the previously anticipated 2022.The DAYLIGHT trial will be an intensive treatment study of KSI-301 in treatment-naïve wet AMD patients, the company said in an update to its earnings release for Q1 2021."Developing and launching a novel anti-VEGF medicine with extended durability is the central principle of our KSI-301 development program,” commented Jason Ehrlich, Chief Medical Officer of Kodiak.Jefferies is not convinced. “It

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Kodiak Sciences sinks on wet AMD confusion