Kodiak Sciences Faces Downgrade Following Failed GLEAM And GLIMMER Studies
Portfolio Pulse from Nabaparna Bhattacharya
Kodiak Sciences Inc (NASDAQ:KOD) has been downgraded to Neutral from Buy by Chardan Global Insights analyst Daniil Gataulin following the failure of its GLEAM and GLIMMER studies. The studies were part of the company's regulatory and clinical development strategy for tarcocimab tedromer, a novel antibody biopolymer conjugate. As a result, Kodiak has decided to discontinue KSI-301 development. The company's shares are trading lower by 5.07%.
July 25, 2023 | 7:46 pm
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Kodiak Sciences' stock has been downgraded and the company has discontinued its KSI-301 development following the failure of its GLEAM and GLIMMER studies.
The failure of the GLEAM and GLIMMER studies, which were key to Kodiak's regulatory and clinical development strategy, has led to a downgrade of the company's stock and the discontinuation of its KSI-301 development. This negative news is likely to have a significant impact on the company's stock price in the short term.
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