By Connor Hart

Shares of Kodiak Sciences shot higher after the company disclosed what it called positive results from a late-stage study of its treatment for diabetic retinopathy, a progressive disease that occurs when damaged blood vessels leak blood and fluid into the retina.

The stock jumped 32%, to $29.92, in premarket trading Thursday. Through Wednesday's close, shares have surged more than sevenfold over the past year.

The biotechnology company said before the bell that its treatment, zenkuda, demonstrated superiority compared with placebo. A total of 62.5% of patients treated with the therapy achieved a greater than or equal to 2-step improvement in diabetic retinopathy severity score, compared with 3.3% of sham-treated patients.

Zenkuda also demonstrated superiority to sham in its secondary endpoint, with an 85% risk reduction for the development of a sight-threatening complication, Kodiak said.

Chief Executive Victor Perlroth said the company is encouraged by the outcome of the study, noting it plans to accelerate its biologics license application, or BLA, submission plans as a result.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

March 26, 2026 06:55 ET (10:55 GMT)

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