5 KSI- S 501 and KSI- S 101 manufa u cturing We have been progressing the manufact f ur t ing of KSI-501 and KSI-101 in preparation for the anticipated clinical studi t es. Clinical material for both KSI-501 (50 mg/mL strength in our enhanced formulation) and KSI-101 (100 mg/mL strength) were successful f ly manufact f ur t ed in the first quarter of 2024. Technology o Plat l fo t rm Developm l ent We continued progressing our technology development with our “due d t” and “triplet” inhibitors that embed small molecules and other bioactive molecules in the biopolymer backbone k to provide a high drug- r antibody ratio ("DAR"). The diverse bioactives are designed to be released over time to achieve sustained inhibition of targeted biological pathways. The biopolymer embedded with its poly-pharmacy payloads is conjugated to a protein therapeutic to form a “triplet” for tissue and cell targeting or omits the protein therapeutic to form a “due d t”. We believe this unique combination of high DAR and extended therapeutic benefit offe f rs potential for broad and important utility for multifac f torial ophthalmic and systemic diseases. Digi i ta i l Health l Plat l fo t rm Developm o ent We are developing a visual engagement technology and imager (“VETi”) designed by Kodiak engineers initially to be used by eye care profes f sionals for vision and ophthalmic anatomical examination, diagnosis and monitoring. Our longer-term goal with VETi, built with semiconductor technologies, is to deliver a wearable device for long-term health engagement and monitoring. We believe the Kodiak VETi platform as a medical engagement and imaging platform has the potential to disrupt r ophthalmology clinical trials by enabling new trial endpoints, thereby enabling faster and more cost-effective medicines development in ophthalmic disease, an area that historically requires lengthy and expensive trials. VETi may also aid in market build and shaping for undertreated or underdiagnosed diseases, such as diabetic eye diseases where Kodiak’s product candidates tarcocimab and KSI-501 are being studi t ed and where early treatment and prevention may allow patients to achieve better outcomes. Competit t io t n The current standard of care for DR (including DME), RVO and wet AMD is intravitreal administration of anti-VEGF monotherapi a es, principally Avastin, Lucentis and Eylea, which are well-establ a ished therapies and are widely accepted by physicians, patients and third-party payors. In addition, newer competitors have received FDA approval in recent years, such as Vabys a mo (faricimab) a from Roche. Vabys a mo is a bispecific f antibody targeting VEGF and angiopoietin-2 (Ang-2) and received FDA approval for the treatment of wet AMD and DME in January 2022 and received FDA approval for RVO in October 2023. Vabys a mo demonstrated non- inferiority in visual acuity gains to Eylea in wet AMD and DME, with extended dosing of up to once every r 16 weeks for slightly less than half of patients in Phase 3 trials. Vabys a mo also demonstrated non-inferiority in visual acuity gains to Eylea in Phase 3 studi t es in RVO with monthly dosing regimen for both therapies. We believe Vabys a mo may be perceived to offe f r incremental benefit in durability over currently establ a ished therapies such as Lucentis and Eylea. Vabys a mo has been gaining adoption since launch and we believe it will become an important product in the marketpl t ace. In August 2023, Regeneron’s product, Eylea HD (high dose aflib f ercept) gained FDA approval for the treatment of wet AMD, DME and DR. High dose afli f bercept demonstrated non-inferior visual acuity gains to Eylea in Phase 3 studi t es in wet AMD and DME while dosing a majo a rity of patients on an every r 3 or 4 month interval compared to Eylea dosed every r 8 weeks per its labe a l. We believe high dose afli f bercept may become an important therapy in the marketpl t ace given Regeneron’s incumbent position in retinal diseases. There are also other companies and research organizations developing treatments targeting other molecular targets, potential gene therapy treatments, stem cell transplant treatments, medical devices as well as biosimilars for the treatment of DR, RVO and wet AMD. We believe the therapeutic space of retinal diseases may become increasingly competitive in the future.