Kodiak Sciences Inc. (KOD) Stock Score, Valuation & Financial Research

Kodiak Sciences Inc. is in the Healthcare sector and Biotechnology industry. It is reviewed using Wall Street Score's company-strength, valuation, growth and financial-health framework. A complete Wall Street Score is not currently available.

Quick answer for KOD

Kodiak Sciences Inc. does not currently have a complete Wall Street Score. The stored market price is USD 99.07. These figures are a research snapshot, not a buy or sell recommendation.

What Kodiak Sciences Inc. does

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, is an anti-vascular endothelial growth factor (anti-VEGF) antibody biopolymer. This compound is currently undergoing Phase IIb/III clinical trials, targeting illnesses such as wet age-related macular degeneration (AMD), diabetic macular edema, previously untreated macular edema resulting from retinal vein occlusion, and non-proliferative diabetic retinopathy. In its earlier, preclinical development pipeline, the company is also working on KSI-501, a bispecific conjugate designed for retinal conditions involving inflammation, and KSI-601, a triplet inhibitor aimed at addressing dry AMD. Established in 2009, this Palo Alto, California-based company operated under the name Oligasis, LLC before rebranding as Kodiak Sciences Inc. in September 2015.

Company business and revenue

Research reporting period: 2025-12-31. A research update is not a new financial filing.

How the company makes money

Kodiak Sciences is a pre-commercial biotechnology company that does not currently generate product revenue. Its business model focuses on the research, development, and clinical testing of novel retinal therapeutics using its proprietary Antibody Biopolymer Conjugate (ABC) platform, with the goal of commercializing these medicines to treat retinal diseases once regulatory approval is obtained.

Products and services

  • The company is developing a portfolio of late-stage clinical retinal medicine candidates, including tarcocimab tedromer (KSI-301) and KSI-101, as well as VETi, an AI-enabled wearable headset for retina care and other applications.

Brands and product families

  • ABC Platform — Proprietary molecular engineering platform for retinal medicines. Source
  • VETi — AI- and machine-learning-enabled wearable headset. Source

Customer types

Healthcare providers and ophthalmologists; Patients with retinal diseases.

Suppliers, materials and equipment

  • Contract Manufacturing Organizations — The company relies on third-party contract manufacturing organizations for the production of clinical trial materials and future commercial supply; specific supplier names are generally not disclosed. Source

Business relationships and partnerships

  • Lonza — A strategic manufacturing partnership involving a custom-built facility named 'Ursus' dedicated to the commercial-scale manufacturing of Kodiak’s drug substance. Source
  • Baker Bros. Advisors, LP — A funding agreement under which the company sold a capped royalty right on future global net sales of tarcocimab. Source

Competitors and product-market comparisons

  • Regeneron Pharmaceuticals — Competes in the anti-VEGF therapy market for retinal diseases. Source
  • Roche/Genentech — Competes in the anti-VEGF therapy market for retinal diseases. Source
  • Novartis — Competes in the anti-VEGF therapy market for retinal diseases. Source

Business strengths to evaluate

  • Proprietary ABC Platform technology Source
  • Late-stage clinical development pipeline Source

Business risks and research considerations

  • Dependence on clinical trial success and regulatory approval Source
  • Reliance on third-party manufacturing and key personnel Source

Sources: Company research source

Company research refreshed 2026-10-12. This is saved research, not a live check of company relationships. Check the reporting period and source disclosures. Financial figures and scores follow their separate update schedules.

KOD financial snapshot

Statement amounts: USD. Quote amounts: USD. No exchange-rate conversion is performed in this snapshot. Market-capitalization currency is not supplied by this projection.

Wall Street Score:
Not currently available
Stored price:
USD 99.07
Market capitalization:
6.2B (currency not supplied)
Revenue:
USD 0.00
Net income:
USD -241.99M
Free cash flow:
USD -136.51M
Cash:
USD 125.9M
Total debt:
USD 95.7M
EPS:
USD -4.19

What stands out

  • Free cash flow is USD -136.51M, negative for the stored period.
  • The balance sheet shows USD 125.9M of cash versus USD 95.7M of total debt, an excess of cash over debt on these two reported measures.
  • The current research record carries a fundamental change risk warning, which should be reviewed alongside the score.

Company-specific financial comparisons

The following are calculated from saved company data, not forecasts or statements about future performance. Differences in reporting dates or units can make a ratio misleading; verify the original filings.

  • Cash exceeds debt by USD 30.2M using the stored balance-sheet values. This does not include other obligations or restricted cash.

Questions worth answering for KOD

Use these questions to check the stored figures against the latest company filings. They identify issues to investigate; they are not findings about management's plans or future results.

  • How long can KOD fund negative free cash flow using its current cash position before it may need more debt or new shares?
  • Does KOD's balance between cash and debt leave enough flexibility if business conditions weaken?
  • What specifically needs to improve for KOD to reach sustainable profitability?
  • What does the current fundamental change risk warning mean for the reliability or interpretation of KOD's score?

What the numbers mean

A complete valuation score is not currently available, so valuation should be checked using the available earnings, cash-flow and price data.

A complete financial score is not currently available, so investors should review cash, debt, earnings and cash flow directly.

A strong company and an attractive stock price are not always the same thing. Revenue, earnings, free cash flow, debt, management quality, competitive advantage and valuation should be considered together. Wall Street Score organizes these inputs into a consistent research framework so investors can identify what deserves deeper review.

Data freshness: Financial data last refreshed 2026-10-01.

Research-input completeness: 73% of the scoring inputs required for this public page are currently available.

How to research KOD

Start by understanding how the company makes money. Then compare revenue and earnings trends, cash generation, debt, liquidity and valuation. Review the company's latest filings and earnings reports before acting on any score or model estimate.

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Data may change as company filings and market prices update. Educational research only; not a buy or sell recommendation.