RTTNews | May 10, 2021 11:10AM EDT

11:10 Monday, May 10, 2021 (RTTNews.com) - Shares of Kodiak Sciences Inc. (KOD) are currently losing nearly 15% on Monday morning after reporting its first-quarter results.

KOD is currently trading at $87.10, down $14.52 or 14.29%, on the Nasdaq.

Kodiak reported net loss for the first quarter of $50.4 million or $0.98 per share, as compared to a net loss of $24.4 million or $0.54 per share last year.

Research and development expenses were $40.3 million for the first quarter, as compared to $20.2 million last year.

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