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Kodiak Sciences
(NASDAQ:KOD)
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Rating:47Neutral
Price Target:
$41.00
▼(-0.99% Downside)
Action:Reiterated
Date:08/17/26
The score is primarily constrained by weak financial performance (no revenue, large losses, and significant cash burn) despite reduced debt. Technicals are relatively steadier with price holding above key longer-term moving averages and neutral momentum, while valuation remains unattractive/unclear due to negative earnings and no dividend support. Corporate events add only a small, modestly positive governance signal.
Positive Factors
Late-stage clinical pipeline
A late-stage portfolio and multiple upcoming pivotal readouts provide several potential paths toward regulatory approval and commercialization. Successful execution could transition Kodiak from a pre-revenue biotech into a revenue-generating ophthalmology company.
Negative Factors
No revenue and persistent losses
Kodiak remains dependent on clinical development rather than recurring product sales, leaving commercialization and profitability unproven. Large ongoing operating losses could persist for several periods if trials, approvals, or launches are delayed.
Read all positive and negative factors
Positive Factors
Negative Factors
Late-stage clinical pipeline
A late-stage portfolio and multiple upcoming pivotal readouts provide several potential paths toward regulatory approval and commercialization. Successful execution could transition Kodiak from a pre-revenue biotech into a revenue-generating ophthalmology company.
Read all positive factors
Kodiak Sciences (KOD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.34B
Dividend YieldN/A
Average Volume (3M)751.22K
Price to Earnings (P/E)―
Beta (1Y)2.39
Revenue GrowthN/A
EPS Growth-10.60%
CountryUS
Employees141
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-4.19
Shares Outstanding62,849,457
10 Day Avg. Volume539,931
30 Day Avg. Volume751,223
Financial Highlights & Ratios
PEG Ratio-0.22
Price to Book (P/B)9.45
Price to Sales (P/S)0.00
P/FCF Ratio-10.90
Enterprise Value/Market Cap<0.01
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$72.25Price Target Upside74.47% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
EPS Forecast (FY)-3.71
Revenue Forecast (FY)N/A
Kodiak Sciences Business Overview & Revenue Model
Company Description
Kodiak Sciences Inc. is a biopharmaceutical firm currently in the clinical development phase, dedicated to discovering, advancing, and bringing to market treatments for various conditions affecting the retina. Their primary drug candidate, KSI-301...
How the Company Makes Money
null...
Kodiak Sciences Earnings Call Summary
Earnings Call Date:Mar 28, 2024
(Q4-2023)
| % Change Since: |
Next Earnings Date:Nov 12, 2026
Earnings Call Sentiment Positive
The earnings call highlighted Kodiak Sciences' strong pipeline and positive Phase III outcomes, along with a good financial position. However, there are uncertainties regarding the DAYBREAK study and potential risks if the study does not succeed. Overall, the sentiment leans positive due to the outweighing highlights.Positive Updates
Strong Pipeline and Diversification
Kodiak Sciences has a portfolio of three clinical programs, two of which are derived from the ABC Platform with focus on durability, and one is platform-independent. This diversification offers both opportunity and risk mitigation.
Negative Updates
Uncertainty in Phase III DAYBREAK Study Design
There is ongoing discussion with the FDA regarding the final design of the DAYBREAK study, which introduces uncertainty in timelines and outcomes.
Read all updates
Q4-2023 Updates
Positive
Negative
Strong Pipeline and Diversification
Kodiak Sciences has a portfolio of three clinical programs, two of which are derived from the ABC Platform with focus on durability, and one is platform-independent. This diversification offers both opportunity and risk mitigation.
Read all positive updates
Company Guidance
During the Q4 2023 earnings call for Kodiak Sciences (symbol: KOD) held on March 28, 2024, extensive guidance was provided on the company's strategic direction and clinical program updates. The call highlighted Kodiak's focus on advancing three clinical programs, including two derived from the ABC Platform and one platform-independent. Key metrics discussed included the company's strong cash position as of Q4, the completion of three positive Phase III studies for tarcocimab in diabetic retinopathy, retinal vein occlusion, and wet AMD, and the regulatory alignment achieved for a bridging strategy to the go-to-market formulation. Furthermore, the company outlined plans for additional studies, such as the actively recruiting GLOW2 study in diabetic retinopathy and the inclusion of tarcocimab in the DAYBREAK study to validate its durability in wet AMD. Kodiak aims to progress rapidly into pivotal studies for KSI-501 and KSI-101, with a goal to have four pivotal studies ongoing later in the year. The comprehensive discussion underscored Kodiak's commitment to achieving significant value inflection points within its cash runway extending into 2026.Kodiak Sciences Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
42
Neutral
Cash Flow
25
Negative
| Breakdown | TTM | Mar 2026 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | 0.00 | -26.71M | -25.95M | -11.00M | -8.71M |
| EBITDA | -220.03M | -203.65M | -149.50M | -234.53M | -322.80M | -258.26M |
| Net Income | -241.99M | -229.97M | -176.21M | -260.49M | -333.82M | -266.99M |
Balance Sheet | ||||||
| Total Assets | 256.81M | 351.53M | 335.58M | 479.37M | 666.63M | 904.22M |
| Cash, Cash Equivalents and Short-Term Investments | 125.90M | 209.86M | 168.07M | 285.51M | 478.93M | 731.51M |
| Total Debt | 95.70M | 159.18M | 70.34M | 181.63M | 187.73M | 179.94M |
| Total Liabilities | 195.72M | 194.15M | 185.29M | 213.59M | 230.46M | 240.90M |
| Stockholders Equity | 61.10M | 157.38M | 150.29M | 265.78M | 436.17M | 663.32M |
Cash Flow | ||||||
| Free Cash Flow | -159.90M | -136.51M | -117.72M | -195.61M | -253.82M | -245.57M |
| Operating Cash Flow | -158.50M | -136.01M | -117.32M | -154.18M | -206.46M | -182.27M |
| Investing Cash Flow | -1.40M | -506.00K | -755.00K | 249.23M | -336.51M | -38.80M |
| Financing Cash Flow | 181.64M | 178.30M | 501.00K | 31.00K | 1.90M | 8.18M |
Kodiak Sciences Risk Analysis
Kodiak Sciences disclosed 76 risk factors in its most recent earnings report. Kodiak Sciences reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kodiak Sciences Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
62 Neutral | $2.26B | -23.31 | 81.78% | ― | 100.27% | 39.90% | |
61 Neutral | $1.95B | -14.13 | -56.19% | ― | -32.27% | -21.09% | |
59 Neutral | $2.73B | -7.61 | -76.09% | ― | -58.40% | -31.99% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $2.06B | -3.29 | -189.68% | ― | -93.33% | -127.13% | |
47 Neutral | $2.34B | -8.88 | -273.23% | ― | ― | -10.60% | |
47 Neutral | $362.04M | -2.28 | -48.40% | ― | 15.98% | -40.75% |
* Healthcare Sector Average
KOD
Kodiak Sciences
39.46
29.78
307.64%
URGN
Urogen Pharma
46.36
26.86
137.74%
NRIX
Nurix Therapeutics
26.95
17.42
182.79%
TSHA
Taysha Gene Therapies
6.20
3.24
109.46%
ZBIO
Zenas BioPharma, Inc.
33.77
16.77
98.65%
UPB
Upstream Bio, Inc.
7.18
-10.12
-58.50%
Kodiak Sciences Corporate Events
Executive/Board ChangesShareholder Meetings
Kodiak Sciences Stockholders Back Directors and Governance Proposals
Positive
Jun 4, 2026
On June 2, 2026, Kodiak Sciences Inc. held its 2026 Annual Meeting of Stockholders, with proxies representing 88.53% of eligible common shares present. Stockholders elected Class II directors Charles A. Bancroft, Bassil I. Dahiyat and Taiyin Yang ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.