Kodiak Sciences shares are trading lower after the company released topline results from three Phase 3 studies of tarcocimab tedromer for neovascular age-related macular degeneration and diabetic macular edema.
Portfolio Pulse from Benzinga Newsdesk
Kodiak Sciences has released topline results from three Phase 3 studies of tarcocimab tedromer for neovascular age-related macular degeneration and diabetic macular edema. Following the news, the company's shares are trading lower.
July 24, 2023 | 12:40 pm
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NEGATIVE IMPACT
Kodiak Sciences' stock is trading lower after the company announced the results of three Phase 3 studies of tarcocimab tedromer.
The release of clinical trial results often has a significant impact on a biotech company's stock price. In this case, the fact that Kodiak Sciences' shares are trading lower suggests that the market may have had negative expectations about the results of the Phase 3 studies.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100