Kodiak stock surges after two eye-drug candidates match Eylea in Phase 3

Kodiak Sciences shares more than doubled on September 28 after positive results from its Phase 3 DAYBREAK trial in wet age-related macular degeneration (wet AMD).

Both experimental drugs—Zenkuda (tarcocimab tedromer) and tabirafusp alfa tedromer (KSI-501)—met the trial’s primary goal, matching Eylea on vision improvement at one year.

For Zenkuda, average vision improvement was 7.2 letters versus 7.6 for Eylea, meeting the study’s non-inferiority standard. Kodiak also reported that over half of Zenkuda patients could go six months between injections under an individualized dosing approach.

The results mark a turnaround for Zenkuda, which had previously failed to match Eylea in an earlier trial. Kodiak plans to seek FDA approval for Zenkuda in the fourth quarter of 2026; approval is not guaranteed.