Kodiak Sciences stock surged up to 90% after its Phase 3 DAYBREAK study showed positive results for Zenkuda in wet age-related macular degeneration, meeting primary endpoints with vision gains and retinal drying in 54% of patients on 6-month dosing. The drug demonstrated non-inferiority to aflibercept with lower adverse event rates, and Kodiak plans to submit a biologics license application in Q4 2026 across multiple indications.