Kodiak Sciences Inc. (KOD)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Kodiak Sciences Inc. (“Kodiak” or “the Company”) (NASDAQ: KOD). Investors who purchased Kodiak securities are encouraged to obtain additional information and assist the investigation
The investigation concerns whether Kodiak has violated federal securities laws.
On July 24, 2023, Kodiak issued a press release “announc[ing] . . . topline results from three Phase 3 studies of tarcocimab tedromer, a novel antibody biopolymer conjugate.” Kodiak’s press release disclosed that of the three studies, “the GLEAM and GLIMMER studies did not meet their primary efficacy endpoints of showing non-inferior visual acuity gains for tarcocimab dosed every 8 to 24 weeks after 3 monthly loading doses compared to aflibercept given every 8 weeks after 5 monthly loading doses. “Accordingly, “[b]ased on these data . . . Kodiak has made a business decision to discontinue further development of tarcocimab.” On this news, Kodiak’s stock price fell $3.35 per share, or 45.88%, to close at $3.95 per share on July 24, 2023.
If you are aware of any facts relating to this investigation or purchased Kodiak, you can assist this investigation. You can also contact Peretz Bronstein or his law clerk and client relations manager, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
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