Kodiak Sciences Inc.
KODNasdaqHealthcare · Biological Products, (No Diagnostic Substances) · DE · SEC filings ↗ · Compare ⊕
View price & chart on Yahoo Finance ↗Financials
SEC XBRL · annual| FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | |
|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | — | — |
| Operating income | −$234.4M | −$186.8M | −$277.3M | −$341.4M | −$267.1M | −$25.7M |
| Net income | −$230.0M | −$176.2M | −$260.5M | −$333.8M | −$267.0M | −$24.4M |
| Total assets | $351.5M | $335.6M | $479.4M | $666.6M | $904.2M | $1.07B |
| Total liabilities | $194.2M | $185.3M | $213.6M | $230.5M | $240.9M | $206.6M |
| Equity | $157.4M | $150.3M | $265.8M | $436.2M | $663.3M | $860.8M |
| EPS (diluted) | $-4.32 | $-3.35 | $-4.97 | $-6.39 | $-5.16 | $-2.91 |
| Shares out. | 52.7M | 52.5M | 52.3M | 51.9M | 51.2M | 44.4M |
Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.
Key ratios
from filings · FY2025- Operating margin
- —
- Net margin
- —
- Return on equity
- −146.1%
- Return on assets
- −65.4%
- Return on capital (ROCE)
- −76.6%
- Liabilities / assets
- 55.2%
- Debt / equity
- 1.23×
- Book value / share
- $2.98
- Revenue growth (YoY)
- —
- Net income growth (YoY)
- —
Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.
Financial health
forensic scores · FY2025- Altman Z″ (distress)
- -14.93distress
- Accruals / assets
- −26.7%clean
- Piotroski F-Score
- 1/7weak
Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.
Quality score
EDS ScoreOur own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.
Signs
● 1 severe● 1 warning● 1 good- Altman Z″ in the distress zone
- Negative operating cash flow
- Clean earnings (low accruals)
Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.
Clinical trials
ClinicalTrials.gov · ongoing · next readout first- Phase 3Active Not Recruitingreadout ~2026-08A Study to Evaluate the Efficacy and Safety of Tarcocimab Tedromer and Tabirafusp Tedromer Compared to Aflibercept in Participants With Neovascular (Wet) Age-related Macular Degeneration (wAMD) - DAYBREAK
- Phase 3Recruitingreadout ~2027-02A Phase 3 Study to Evaluate the Efficacy and Safety of Intravitreal KSI-101 in Participants With Macular Edema Secondary to Inflammation (MESI) - PINNACLE
- Phase 3Recruitingreadout ~2027-04A Phase 3 Study to Evaluate the Efficacy and Safety of Intravitreal KSI-101 in Participants With Macular Edema Secondary to Inflammation (MESI) - PEAK
Interventional studies led by this company. “Readout” is the trial's primary-completion date — an estimate the sponsor reports, not a guarantee.
5%+ owners
SEC Schedule 13D / 13G · last 3 yrs- Sirenia Capital Management LpPassive (13G)May 15, 2026
- Blackrock, Inc.Passive (13G)Apr 27, 2026
- Point72 Asset Management, L.P.Passive (13G)Apr 2, 2026
- Perlroth VictorPassive (13G)Feb 17, 2026
- Baker Bros. Advisors LpActivist (13D)Dec 19, 2025
Holders who disclosed a 5%+ stake. 13D signals intent to influence or control; 13G is a passive holding. Latest filing per holder — open it for the exact stake.
Insider transactions
SEC Form 4 · most recent| Insider | Date | Type | Shares | Price |
|---|---|---|---|---|
| Borgeson John A.Officer — Chief Financial Officer | Apr 15, 2026 | Option exercise | 28,614 | $1.04 |
| Borgeson John A.Officer — Chief Financial Officer | Apr 2, 2026 | Option exercise | 30,000 | $1.04 |
| Perlroth VictorOfficer — Chairman and CEO | Mar 25, 2026 | Option exercise | 300,000 | $1.04 |
| Baker Bros. Advisors LpDirector | Dec 18, 2025 | Buy | 217,428 | $23.00 |
Headline trade per Form 4 (officers, directors, 10%+ owners). Buy/sell read from the filing's structured data — blank where a field isn't cleanly tagged.
Short interest
FINRA · bi-monthly| Settlement | Shares short | Days to cover | Δ vs prior |
|---|---|---|---|
| May 15, 2026 | 10.2M | 15.8 | -0.4% |
| Apr 30, 2026 | 10.2M | 17.4 | -0.7% |
| Apr 15, 2026 | 10.3M | 8.6 | +4.7% |
| Mar 31, 2026 | 9.9M | 4.1 | +39.8% |
| Mar 13, 2026 | 7.0M | 14.8 | -0.0% |
Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.
Material events
SEC Form 8-K · most recent- Results of operationsMay 7, 2026
- Results of operationsMar 31, 2026
- Other material eventMar 27, 2026
- Other material eventDec 18, 2025
- Results of operationsNov 13, 2025
- Results of operationsAug 13, 2025
- Shareholder voteJun 3, 2025
- Results of operationsMay 14, 2025
Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.
Recent SEC filings
All filings ↗- SCHEDULE 13GMay 15, 2026
- 10-QMay 7, 2026
- 8-KMay 7, 2026
- SCHEDULE 13GApr 27, 2026
- ARSApr 23, 2026
- DEFA14AApr 22, 2026
- DEF 14AApr 22, 2026
- 4Apr 16, 2026
- 4Apr 2, 2026
- 144Apr 2, 2026
- SCHEDULE 13GApr 2, 2026
- S-8Mar 31, 2026
- 10-KMar 31, 2026
- 8-KMar 31, 2026
- 4Mar 27, 2026