Key TakeawaysKOD closed near $90 on September 28, 2026, up nearly 180% from its $32.35 close on September 25, after Kodiak released topline DAYBREAK results.Zenkuda (tarcocimab tedromer) met its primaKey TakeawaysKOD closed near $90 on September 28, 2026, up nearly 180% from its $32.35 close on September 25, after Kodiak released topline DAYBREAK results.Zenkuda (tarcocimab tedromer) met its prima

Why Kodiak Sciences (KOD) Stock Nearly Tripled on Phase 3 DAYBREAK Results

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Author: James Mitchell

2026/09/29 15:30

Kodiak Sciences (KOD) stock nearly tripled on Monday, September 28, 2026, after the company reported that both drugs in its Phase 3 DAYBREAK study met their primary endpoints in wet age-related macular degeneration (wet AMD). The result mattered more than a typical trial win because Zenkuda, Kodiak's lead drug, had failed an earlier Phase 3 trial in the same disease in 2022.

Key Takeaways

KOD closed near $90 on September 28, 2026, up nearly 180% from its $32.35 close on September 25, after Kodiak released topline DAYBREAK results.
Zenkuda (tarcocimab tedromer) met its primary endpoint of non-inferior vision gains versus aflibercept (p=0.0007), with 54% of patients on six-month dosing at year one.
Tabirafusp-ted (KSI-501) also met its primary vision endpoint (p=0.0036) in the same study.
Zenkuda missed a wet AMD trial in 2022 and two diabetic macular edema trials in 2023, so DAYBREAK removed a risk the market had been pricing in.
Kodiak plans to file for Zenkuda's approval in Q4 2026, and its next data readout, for KSI-101, is due in December 2026.

What happened to KOD stock on September 28, 2026?

Kodiak released topline DAYBREAK results at 6:30 a.m. ET on September 28, 2026, before the US market opened.

KOD, which had closed at $32.35 on Friday, September 25, traded above $95 at its high and closed near $90, a gain of nearly 180% in one session.

The stock jumped as much as 90% in pre-market trading as traders digested the release.

Gains quoted during the day ranged from about 145% to 190% because they captured different moments, so the close is the figure that held.

What did the DAYBREAK Phase 3 trial show?

DAYBREAK compared two Kodiak drugs with aflibercept, sold as Eylea, in patients with untreated wet AMD, and both met the primary endpoint of non-inferior vision gains at year one.

Zenkuda cleared that endpoint with a p-value of 0.0007, and 54% of its patients reached a six-month dosing interval at year one.

According to Kodiak's topline announcement, the headline numbers were:

Zenkuda: primary endpoint met (p=0.0007); 54% of patients on six-month dosing at year one; 0% intraocular inflammation and a 0.5% cataract adverse event rate.
Tabirafusp-ted: primary vision endpoint met (p=0.0036) and key anatomical secondary endpoint met (p<0.0001); 0.4% intraocular inflammation and no cataract adverse events.
Aflibercept comparator: dosed per its label, with a 0.9% cataract adverse event rate.

Zenkuda patients were dosed every 4 to 24 weeks after four monthly loading doses, and were retreated whenever any retinal fluid appeared, a strict approach Kodiak calls treat-to-dryness.

Tabirafusp-ted, a bispecific drug that blocks both VEGF and IL-6, was given every eight weeks with extra doses as needed, according to Kodiak's release; the study is registered as NCT06556368.

These are topline figures from the company, and fuller data will decide how doctors compare Zenkuda with existing drugs.

Why did a non-inferiority result send KOD up nearly 180%?

KOD jumped because DAYBREAK removed a risk the market had priced in for years: Zenkuda had already failed a wet AMD trial against the same comparator.

A clear win on that endpoint, with a majority of patients on six-month dosing, cleared the way for a three-indication filing and supported Kodiak's case that the drug can hold vision gains with fewer injections.

The track record explains the size of the move:

February 2022: the DAZZLE trial in wet AMD missed its non-inferiority endpoint against aflibercept.
July 2023: the GLEAM and GLIMMER trials in diabetic macular edema missed their endpoints, and Kodiak decided to wind down its tarcocimab studies; the stock fell almost 46% that day.
2022 to 2026: BEACON in retinal vein occlusion, DAYLIGHT in wet AMD, and GLOW and GLOW2 in diabetic retinopathy all met their goals.
September 2026: DAYBREAK met its primary endpoint, giving Zenkuda five positive Phase 3 studies.

Non-inferiority means Zenkuda's vision gains were statistically no worse than aflibercept's, not that it beat Eylea on vision.

The commercial case rests on durability: Kodiak says Zenkuda stays in the eye about three times longer than approved anti-VEGF drugs, with a mean ocular half-life of about 20 days.

Retina specialist Dr. Charles Wykoff, quoted in Kodiak's release, said the company worked through real setbacks in the tarcocimab program and applied the lessons in DAYBREAK.

Kodiak puts the anti-VEGF market across retinal vascular diseases at about $15 billion, the market Zenkuda and tabirafusp-ted would enter if approved.

What comes next for Kodiak Sciences?

Kodiak plans to file a biologics license application (BLA) for Zenkuda in the fourth quarter of 2026, covering wet AMD, diabetic retinopathy and retinal vein occlusion with five positive Phase 3 studies.

Its next data event is December 2026, when it expects topline results from the Phase 3 PEAK study of KSI-101 in macular edema secondary to inflammation.

The dated milestones Kodiak has given are:

Q4 2026: Zenkuda BLA submission, built on DAYBREAK, DAYLIGHT, GLOW, GLOW2 and BEACON.
December 2026: KSI-101 topline results from the first pivotal analysis (PEAK).
Q2 2027: a planned BLA for KSI-101 and results from its second pivotal analysis (PEAK and PINNACLE).
Late 2027 or early 2028: Kodiak's target window for potential approvals of Zenkuda and KSI-101.
Ongoing: the Phase 3 ALTO study, testing whether tabirafusp-ted can beat aflibercept in diabetic macular edema.

None of these outcomes is guaranteed: Kodiak has no approved product yet, and its release warns that the BLA may not be accepted or approved when expected and that trial results may not persist.

How can you buy KOD on MEXC?

Eligible investors can buy real Kodiak Sciences (KOD) shares on MEXC RealStocks, where the shares are held through a licensed partner broker.

RealStocks follows regular US market hours, is quoted in USD and can be funded with USDT.

To start, open a RealStocks account on MEXC and complete the broker's identity verification.

KOD's move on September 28 shows how sharply a clinical-stage biotech can reprice on a single data release, in either direction.

Frequently Asked Questions

Why did KOD stock go up?

KOD rose nearly 180% on September 28, 2026, after Kodiak said both Zenkuda and tabirafusp-ted met their primary endpoints in the Phase 3 DAYBREAK wet AMD study.

What is Zenkuda?

Zenkuda is Kodiak's name for tarcocimab tedromer, an investigational anti-VEGF drug injected into the eye and built on the company's antibody biopolymer conjugate (ABC) platform.

Is Zenkuda approved?

No, Zenkuda is investigational and not approved in any country; Kodiak plans to file a BLA in Q4 2026 and has said approval could come by late 2027 or early 2028.

Did Zenkuda beat Eylea in the DAYBREAK trial?

No, Zenkuda showed non-inferior vision gains versus aflibercept (Eylea); its differentiation is durability, with 54% of patients on six-month dosing at year one, according to Kodiak.

What is tabirafusp-ted?

Tabirafusp-ted (KSI-501) is Kodiak's investigational bispecific drug targeting both VEGF and IL-6; it met its vision endpoint in DAYBREAK and is now in the Phase 3 ALTO study in diabetic macular edema.

What is the next catalyst for Kodiak Sciences?

The next scheduled events are the Zenkuda BLA submission planned for Q4 2026 and topline Phase 3 PEAK results for KSI-101 expected in December 2026.

What is wet AMD?

Wet age-related macular degeneration is an eye disease in which abnormal blood vessels leak fluid under the retina and can cause vision loss; anti-VEGF injections such as aflibercept are the standard treatment.

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