(Reuters) – Kodiak Sciences Inc said on Wednesday its experimental eye drug did not meet the main goal of a mid-to-late-stage trial, failing to show it was not inferior compared to Regeneron Pharmaceuticals’ Eylea.
Shares of Kodiak Sciences were down over 60% in premarket trade.
The drug was being tested in 559 patients with wet macular degeneration, a chronic eye disorder that causes blurred vision or blind spots. While the trial showed the experimental drug, codenamed KSI-301, was safe, it did not improve the vision of the patients as compared to Eylea.
(Reporting by Leroy Leo; Editing by Krishna Chandra Eluri)
