Why Kodiak Sciences Skyrocketed Today
The biotech is developing innovative therapies for people with eye diseases.
Overview
Shares of Kodiak Sciences (NASDAQ: KOD) soared 178% on Monday after the eye medicine developer announced positive clinical trial results for two of its leading investigational drug candidates.
Image source: Getty Images.
Kodiak said Zenkuda and KSI-501 met their primary endpoints in a Phase 3 clinical study in patients with wet age-related macular degeneration, a serious eye condition in which abnormal blood vessels grow beneath the retina and leak fluid, which can lead to rapid vision loss.
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Originally published at www.fool.com.
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