Kodiak Sciences jumps after eye drug meets main goal in late-stage study

Shares of drug developer Kodiak Sciences KOD.O surges 57.23% to $35.77

*Stock set for biggest daily percentage rise in six months, if gains hold

Co says its experimental drug, Zenkuda, met the main goal in a late-stage study in patients with diabetic retinopathy, a diabetes-related eye disease

In the study, 62.5% of patients treated with Zenkuda showed a clear improvement in disease severity, compared with 3.3% of those on a sham treatment - KOD

The drug was well-tolerated, with no cases of eye inflammation reported in the trial - KOD

KOD says results support a U.S. marketing application for the treatment; plans to accelerate the submission

Including session's move, stock up 22.50% YTD