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Kodiak Sciences Abandons Eye Drug Development, Stock Plummets

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Source: Yahoo Finance
TL;DR

Kodiak Sciences Inc has decided to discontinue the development of its experimental drug, tarcocimab tedromer, for the treatment of diabetic macular edema. The decision was made after the drug failed to meet its main goal in two late-stage studies and was found to cause an increase in cataracts over time in patients. As a result, the company's shares tumbled 40% in premarket trading.

Topics:businesshealthcare#diabetic-macular-edema#discontinued-development#eye-disorder-drug#healthcare#kodiak-sciences#tarcocimab-tedromer
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  1. CORRECTED-UPDATE 1-Kodiak Sciences scraps development of eye disorder drug  Yahoo Finance
  2. Kodiak Sciences scraps development of eye drug, shares slump  Reuters.com
  3. Kodiak Sciences (NASDAQ:KOD) Tanks after Tarcocimab Disappoints in Phase 3 Trials - TipRanks.com  TipRanks
  4. 'Unexpected' cataracts in phase 3 trials end Kodiak's hopes for eye drug, halving stock price  FierceBiotech
  5. Kodiak Sciences announces topline data from phase 3 studies of tarcocimab tedromer  Ophthalmology Times
  6. View Full Coverage on Google News

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