On October 1, Kodiak Sciences Inc. rose 6.9% in regular trading, trading at $101.48/share, with turnover of approximately $21.86 million. The move was driven by disclosures that major shareholder and director Felix J. Baker and Julian C. Baker significantly increased their holdings through affiliated funds.

According to Form 4 filings, Baker Brothers funds 667, L.P. and Baker Brothers Life Sciences LP purchased approximately 359,000 shares of common stock on September 28-29 at average prices ranging from $84 to $90 per share, bringing combined holdings to approximately 20.19 million shares. Felix J. Baker separately accumulated over 860,000 additional shares at prices ranging from $60.50 to $86.47, further consolidating the Bakers' dominant position.

The aggressive insider buying follows the company's landmark announcement on September 28, when Kodiak reported that its two experimental eye drugs, Zenkuda and tabirafusp-ted, both met primary endpoints in Phase 3 wet age-related macular degeneration trials, achieving non-inferiority to aflibercept. The company plans to submit regulatory filings in Q4 covering five positive Phase 3 studies across multiple retinal indications.

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