Goldman Sachs suspended the firm’s investment rating, price target and earnings estimates for Kodiak Sciences “due to insufficient information on which to base an investment view.” Kodiak announced results from its Phase 3 DAYLIGHT, GLEAM and GLIMMER trials where the latter two studies failed to meet the primary endpoint of non-inferior visual acuity gains for lead asset tarcocimab compared to Regeneron’s Eylea alongside an imbalance of cataract adverse events in the treatment arm, the analyst tells investors in a research note.
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