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Kodiak Sciences rallies 75% as phase III GLOW2 data show Zenkuda's strong efficacy, safety and risk reduction in diabetic retinopathy patients.

Investors appear to be responding to both the strength of the data and the possibility of a faster path toward a biologics license application, or BLA. Here's what investors need to know.

Shares of drug developer Kodiak Sciences jumped 52% before the bell on Thursday after its experimental ​drug met the main goal in a ‌late-stage study in patients with diabetes-related eye damage.

Building on the success of GLOW1 and with all patients on a 6-month dosing interval, Zenkuda (tarcocimab tedromer) demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p

Acquired 386,000 shares of Kodiak Sciences (NASDAQ: KOD); estimated transaction value of $7.90 million based on quarterly average pricing Quarter-end Kodiak Sciences position value rose by $19.49 million, reflecting both trading and price movement Transaction represented a 1.73% increase relative to fund 13F AUM Boxer Capital Management, LLC held 1,136,000 Kodiak Sciences shares valued at $31.76 million after the trade Kodiak Sciences position now represents 6.95% of 13F AUM, which places it outside the fund's top five holdings

Baker Bros. Advisors increased its Kodiak Sciences stake by 2,608,696 shares; the estimated trade size was $53.42 million.

Connecticut-based Braidwell bought 2,072,788 shares in Kodiak Sciences in the fourth quarter. The quarter-end position value increased by $57.96 million, reflecting the establishment of the new position.