Kodiak Sciences Released Topline Results From Three Phase 3 Studies Of Tarcocimab Tedromer For Neovascular Age-related Macular Degeneration & Diabetic Macular Edema, DAYLIGHT Study Met Its Primary Endpoint, But GLEAM & GLIMMER Studies Did Not
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Kodiak Sciences has released topline results from three Phase 3 studies of Tarcocimab Tedromer for Neovascular Age-related Macular Degeneration & Diabetic Macular Edema. The DAYLIGHT study met its primary endpoint, but the GLEAM & GLIMMER studies did not. Consequently, Kodiak has decided to discontinue further development of Tarcocimab.
July 24, 2023 | 10:04 am
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Kodiak Sciences' decision to discontinue Tarcocimab development following mixed results from Phase 3 studies may negatively impact its stock price in the short term.
The discontinuation of a drug development, especially after reaching Phase 3, often leads to a negative market reaction as it represents a significant investment of resources without a return. This is particularly true if the drug was expected to be a major revenue driver for the company.
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