10x Insights
Loading account…
Companies / Health Care / Kodiak Sciences Inc.
KOD

Kodiak Sciences Inc.

Health CareBiological Products
Ticker KODPALO ALTO, CAFiscal year ends DecemberBook value per share $0.98Diluted shares 62.2M

Kodiak Sciences Inc. (Nasdaq: KOD) is a clinical-stage biopharmaceutical company developing medicines for retinal diseases, including diabetic retinopathy, retinal vein occlusion, wet age-related macular degeneration and macular edema associated with inflammation. Its proprietary Antibody Biopolymer Conjugate (ABC)… From the company’s description.

In fiscal 2025, Kodiak Sciences Inc. reported a net loss of $229.97M. Operations used $136.01M in cash.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
—
0.00%FY2025
$-229.97MFY2025
−30.5% year over year
Last 12 mo $-241.99M
-146.12%FY2025
−28.9 percentage points
Last 12 mo -396.09%
Cash & financing
$-136.01MFY2025
−15.9% year over year
Last 12 mo $-158.50M
$-136.51MFY2025
−16.0% year over year
Last 12 mo $-159.90M
0.01FY2025
Last 12 mo 0.00
53.2MFY2025
+1.2% year over year
Last 12 mo 62.2M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Kodiak Sciences Inc. does

In the company’s own words

Kodiak Sciences Inc. (Nasdaq: KOD) is a clinical-stage biopharmaceutical company developing medicines for retinal diseases, including diabetic retinopathy, retinal vein occlusion, wet age-related macular degeneration and macular edema associated with inflammation. Its proprietary Antibody Biopolymer Conjugate (ABC) platform underpins three clinical programs: Zenkuda (tarcocimab), an anti-VEGF therapy; KSI-501, which targets IL-6 and VEGF; and KSI-101, a bispecific protein targeting IL-6 and VEGF. The company is also developing an ABCD platform that incorporates small molecules, with programs for glaucoma and geographic atrophy, and VETi, an AI-enabled wearable vision technology. Kodiak retains global rights to its product candidates and aims to develop and commercialize them itself. Its pipeline has no products approved for commercial sale, and it has never generated product-sales revenue. Founded in 2009, the company collaborates with Lonza on its Ursus commercial-scale drug-substance manufacturing facility. Kodiak’s trademarks include Zenkuda and VETi. Its website is www.kodiak.com.

Company details
Sector
Health Care
Industry (SIC)
Biological Products
Headquarters
PALO ALTO, CA
Fiscal year end
December
CIK
1468748
SIC
2836

Financial performance, year by year

Fiscal 2018–2025 · USD
$-363.06M$-275.35M$-187.63M$-99.92M$-12.20M20182019202020212022202320242025Last 12 moLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Kodiak Sciences Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

212
funds hold it
1 of 35
superinvestors hold it
$524.15M
held by funds, at market
21.3%
of shares held by funds

Superinvestors in Kodiak Sciences Inc. · what they did last quarter

Polen CapitalDECREASED -14.2%
Polen Capital Management
<0.1%of 13F portfolio

Share of each manager’s reported 13F portfolio. Change is in shares held, since the previous quarter.

Largest fund holders · Kodiak Sciences Inc.’s weight in each

0.54%of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.05%of fund net assets
T. Rowe Price Health Sciences Fund, Inc.
PRHSX · T. ROWE PRICE HEALTH SCIENCES FUND, INC.
0.33%of fund net assets
Artisan International Small-Mid Fund
ARTJX · Artisan Partners Funds Inc.
0.91%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Kodiak Sciences Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Kodiak Sciences Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Kodiak Sciences Inc.'s last four quarterly filings that the numbers alone won't show?”
See how it works →All research tools with a subscription. Use your own AI account.