Kodiak Q2 net loss $65.6M; DAYBREAK topline due Sept 2026, cash into 2027

Kodiak Sciences Inc.

Q2 2026 net loss $65.6M ($1.05/sh) vs $54.3M ($1.03/sh) in Q2 2025; SBC $11.6M.
Cash and equivalents $125.9M at June 30, 2026; expected to fund operations into 2027.
R&D expense $56.1M (up from $42.8M) on PEAK/PINNACLE and manufacturing; G&A $10.8M.
Phase 3 DAYBREAK topline (Zenkuda/KSI-501, wet AMD) expected Sept 2026; PEAK Pivotal Analysis 1 (KSI-101, MESI) Dec 2026.
Enrollment completed for first 300-patient PEAK cohort; ALTO Phase 3 (KSI-501 vs aflibercept, DME) patient enrollment initiated.

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