Chief Financial Officer John A. Borgeson of Kodiak Sciences Inc. (NASDAQ: KOD) completed the sale of 29,900 shares of common stock on April 2, 2026, with the transactions valued at $1,197,488. The shares changed hands at prices between $39.14 and $41.77 per share.
On the same day, Borgeson exercised stock options to acquire 30,000 shares of Kodiak common stock at an exercise price of $1.04 per share, with the options exercise amounting to $31,200 in aggregate. The sales were carried out pursuant to a pre-existing 10b5-1 trading plan that Borgeson adopted on September 29, 2025.
After these transactions, Borgeson directly holds 183,316 shares of Kodiak Sciences. The timing of the trades coincided with the share price trading near its 52-week high of $45.60, following an extraordinary 1,593% return over the past year, according to InvestingPro data. InvestingPro also indicates that the stock may be overvalued relative to its Fair Value analysis.
Separately, Kodiak has reported recent clinical results that have contributed to market attention. The company disclosed positive outcomes from its GLOW2 Phase 3 study of Zenkuda (tarcocimab tedromer) in diabetic retinopathy. The trial achieved its primary endpoint: 62.5% of patients treated with Zenkuda experienced a two-step or greater improvement in diabetic retinopathy severity score versus 3.3% in the sham-treated group. Patients in the study received dosing at six-month intervals.
In reaction to the GLOW2 results, H.C. Wainwright raised its price target for Kodiak Sciences to $58 from $38 and maintained a Buy rating, citing the promising trial data. Kodiak also presented final Week 24 results from its Phase 1B APEX trial of KSI-101 at the Angiogenesis 2026 meeting; those results supported earlier observations of anatomical and visual improvements in patients with macular edema secondary to inflammation.
Those clinical updates - the GLOW2 Phase 3 outcome for Zenkuda and the Week 24 APEX findings for KSI-101 - frame Kodiak’s recent pipeline progress in retinal diseases and have factored into analyst coverage and investor focus.
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These transactions and clinical announcements together underscore a period of heightened activity around Kodiak Sciences: executive stock movement governed by a 10b5-1 plan, a substantial options exercise, share-price gains over the past year, and multiple clinical readouts that have prompted analyst revisions.