NEW YORK, Aug. 02, 2023 (GLOBE NEWSWIRE) -- Pomerantz LLP is investigating claims on behalf of investors of Kodiak Sciences Inc. (“Kodiak” or the “Company”) ( KOD). Such investors are advised to contact Robert S. Willoughby at [email protected] 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.
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On July 24, 2023, Kodiak issued a press release “announc[ing] . . . topline results from three Phase 3 studies of tarcocimab tedromer, a novel antibody biopolymer conjugate.” Kodiak’s press release disclosed that of the three studies, “the GLEAM and GLIMMER studies did not meet their primary efficacy endpoints of showing non-inferior visual acuity gains for tarcocimab dosed every 8 to 24 weeks after 3 monthly loading doses compared to aflibercept given every 8 weeks after 5 monthly loading doses. “ Accordingly, “[b]ased on these data . . . Kodiak has made a business decision to discontinue further development of tarcocimab.”
On this news, Kodiak’s stock price fell $3.35 per share, or 45.88%, to close at $3.95 per share on July 24, 2023.
Pomerantz LLP, with offices in New York, Chicago, Los Angeles, London, Paris, and Tel Aviv, 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, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz 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 billions of dollars in damages awards on behalf of class members. See www.pomlaw.com.
CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980
