By Chris Wack
Kodiak Sciences shares were 21% lower, at $3.13, after the company reported a first-quarter loss that was wider than expected.
The biopharmaceutical company said it had a quarterly loss of $57.5 million, or $1.09 a share, compared with a loss of $43 million, or 82 cents a share, in the same quarter last year. Analysts polled by FactSet were looking for a loss of $48.7 million, or 86 cents a share.
The net loss for the first quarter included non-cash stock-based compensation of $15.9 million, as compared to $18.4 million last year.
Kodiak ended the quarter with $138.9 million of cash and cash equivalents, and said it believes it will support current and planned operations into 2026.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
May 15, 2025 13:41 ET (17:41 GMT)
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