We are expanding our clinical development efforts with KSI-301. In 2019, we look forward to presenting data from our ongoing Phase 1b open-label multiple-dose study of KSI-301 at major medical meetings including planned podium presentations at the American Society of Retina Specialists (ASRS) and American Academy of Ophthalmology (AAO) meetings. The Phase 1b study is enrolling 50+ patients with anti-VEGF treatment naïve neovascular (wet) age-related macular degeneration, diabetic macular edema, and macular edema due to retinal vein occlusion. We will be exploring safety, efficacy, pharmacodynamics, and durability in all patients. We plan to initiate our global (US and EU) Phase 2 study head-to-head against aflibercept in wet AMD with a pivotal study design we believe positions KSI-301 as the leading next-generation anti-VEGF therapy. We call it the same where it matters, different where it counts. Twenty-six million intravitreal injections of anti-VEGF biologics were performed globally in 2018. KSI-301 fits into that treatment paradigm as an anti-VEGF antibody- based biologic dosed via intravitreal injection. Yet, the science underlying our ABC Platform is designed to bring the improved durability, potency, ocular tissue bioavailability, and biocompatibility to enable meaningful differentiation and better real-world outcomes. Victor Perlroth MD Chairman & CEO On behalf of Kodiak’s board of directors and leadership team, I want to thank you for your investment and support. I also want to thank our dedicated employees and corporate partners around the world for their commitment to our mission of using trailblazing science to create disruptive products and platforms to tackle the biggest challenges in ophthalmology. Our journey as a public company has begun, and we look forward to your support and participation along with us as we accelerate in 2019. We have submitted pre-IND dossiers for KSI-301 to the Chinese Center for Drug Evaluation (CDE), and we will be engaging shortly on our IND’s with China regulators. We are requesting to run our China clinical trials as dual-use pivotal studies meeting globally recognized standards. As we build momentum clinically, we are evalu- ating pivotal study designs for KSI-301 in the broader set of retinal vascular disease indications, notably diabetic macular edema, non-prolifer- ative diabetic retinopathy and macular edema following retinal vein occlusion. We are also designing and developing additional pipeline molecules with a focus on multi-inhibitor medicines such as KSI-501, our dual-inhibitor bioconjugate that in addition to its anti-VEGF activity is also a potent anti-inflammatory agent. Inflammation is intimately linked to the pathology of these high prevalence retinal diseases, to VEGF-non-responder populations in these diseases, and in particular to the very high levels of disease activity seen in diabetic eye disease. K O D I A K S C I E N C E S I N C .