NEW YORK, May 18, 2021 /PRNewswire/ — Pomerantz LLP is investigating claims on behalf of investors of Kodiak Sciences Inc. («Kodiak» or the «Company») (NASDAQ: KOD). Such investors are advised to contact Robert S. Willoughby at firstname.lastname@example.org or 888-476-6529, ext. 7980.
The investigation concerns whether Kodiak and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On May 10, 2021, Kodiak issued a press release «report[ing] business highlights and financial results for the first quarter ended March 31, 2021.» The press release included an update regarding the path to licensure for the Company’s product KSI301, a proposed anti-vascular endothelial growth factor medicine. Specifically, Kodiak disclosed that «through our continued engagement with the retina community, we have learned that physicians and retina practices would like to see our labeling for KSI-301 include the option for more frequent dosing.» Accordingly, the Company announced the launch of the DAYLIGHT study which will evaluate monthly dosing of KSI-301 in patients with wet AMD.» Kodiak stated that it «expect[s] recruitment in DAYLIGHT will begin in the summer of 2021, and we plan to include data from this fifth pivotal study of KSI-301 in our initial BLA submission.»
On this news, Kodiak’s stock price fell $13.21 per share, or 13%, to close at $88.41 per share on May 10, 2021.
The Pomerantz Firm, with offices in New York, Chicago, Los Angeles, and Paris is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 80 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomerantzlaw.com
Robert S. Willoughby
888-476-6529 ext. 7980
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SOURCE Pomerantz LLP