Kodiak Sciences Inc (KOD)

Kodiak Sciences to Present at 2026 Jefferies Global Healthcare ConferenceMay 28, 2026 6:09 PM
PR Newswire (US) PALO ALTO, Calif., May 28, 2026 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a precommercial retina-focused biotechnology company committed to researching, developing and commercializing transformative therapeutics, today announced that Victor Perlroth, M.D., Chief Executive Officer, will present at the 2026 Jefferies Global Healthcare Conference in New York on Thursday, June 4, 2026, at 11:40am ET (8:40am PT).A live webcast of the presentation will be available on the "Events and Presentations" section of Kodiak's website at http://ir.kodiak.com/ and will remain available for replay for a limited time following the event.About Kodiak Sciences Inc. Kodiak Sciences (Nasdaq: KOD) is a precommercial retina-focused biotechnology company committed to researching, developing and commercializing transformative therapeutics. We are focused on bringing new science to the design and manufacture of next-generation retinal medicines to prevent and treat the leading causes of blindness globally. We are developing a portfolio of three late-stage clinical programs: Zenkuda™ (tarcocimab tedromer), KSI-501 and KSI-101.For more information, please visit www.kodiak.com. Kodiak®, Kodiak Sciences®, ABC®, ABC Platform®, ABCD™ and the Kodiak logo are registered trademarks or trademarks of Kodiak Sciences Inc. in various global jurisdictions. View original content:https://www.prnewswire.com/news-releases/kodiak-sciences-to-present-at-2026-jefferies-global-healthcare-conference-302785078.htmlSOURCE Kodiak Sciences Inc. Original: Kodiak Sciences to Present at 2026 Jefferies Global Healthcare Conference

Dont know who they are but like their upgrade
Chardan Upgrades Kodiak Sciences to Buy From Neutral, Raises Price Target to $61 From $14
MT Newswires · May-11-2026 8:54 AM ET
08:54 AM EDT, 05/11/2026 (MT Newswires) -- Kodiak Sciences (KOD.NaE) has an average rating of buy and mean price target of $63.33, according to analysts polled by FactSet.

From $14 to $61 !!!

Here they are ...Chardan
Healthcare & Biotech: The firm focuses heavily on life sciences and has raised over $23 billion for healthcare companies since 2005.
They have played key roles in high-profile biotech IPOs for companies like Moderna and AveXis.

Kiwi

Kodiak Sciences to Present Pipeline Advances and KSI-101 Clinical Data, Including Results from a MESI Cohort in a Tertiary Care Uveitis Practice, at Upcoming Scientific ConferencesMay 1, 2026 12:23 AM
PR Newswire (US)

Clinical results of KSI-101 in macular edema secondary to inflammation (MESI) from a tertiary care uveitis practice demonstrate outcomes consistent with results from the U.S. Phase 1b APEX study, supporting continued global development and expansion of the Phase 3 PEAK and PINNACLE program into Asia.Ongoing advancement of bispecific therapies in geographic atrophy and ocular inflammatory disease; preclinical data continue to support a multi-target approach to address limitations of current single-target therapies. The ABCD PlatformTM, an evolution of Kodiak's ABC platform to include conjugation of small molecules and other drugs, continues to advance as a versatile system for targeted, multi-modal drug development in retina and glaucoma optic neuropathy.PALO ALTO, Calif., May 1, 2026 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a precommercial retina-focused biotechnology company committed to researching, developing and commercializing transformative therapeutics, today announced it will present pipeline advances and clinical results of KSI-101 in a cohort of tertiary care MESI patients at the 2026 American Uveitis Society (AUS) Meeting and the 2026 Association for Research in Vision and Ophthalmology (ARVO) Meeting."Results from a tertiary care uveitis practice were highly consistent with those observed in the U.S. Phase 1b APEX study," said Pablo Velazquez-Martin, M.D., Chief Medical Officer of Kodiak Sciences. "These findings add to the growing body of evidence supporting KSI-101 in MESI and provide early support for its applicability across diverse patient populations globally, irrespective of the underlying cause of the inflammation and the severity of the disease.""Our presentations at the American Uveitis Society and the Association for Research in Vision and Ophthalmology showcase both the clinical progress of KSI-101 and the continued advancement of our pipeline molecules and pipeline science," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Sciences. "We look forward to engaging with colleagues at these conferences as we continue to deepen our science and grow our team."Presentations at American Uveitis Society –Saturday, May 2, 2026, in Aurora, ColoradoFormat: Oral presentationPresentation Title: Bispecific Trap-antibody Inhibiting Interleukin-6 and Vascular Endothelial Growth Factor (KSI-101): Week 24 Results from the Phase 1b APEX Study in Patients with Macular Edema Secondary to Inflammation (MESI)Speaker: Dr. Edmund Tsui, M.D., Associate Professor-in-Residence of Ophthalmology, Stein Eye Institute, David Geffen School of Medicine, University of California, Los Angeles (UCLA), USATime: 7:45pm MTPresentations at Association for Research in Vision and Ophthalmology – May 3-7, 2026, in Denver, Colorado. Kodiak will have six poster presentations. Presentations are listed below and grouped by topic.These presentations will be made available under Kodiak's "Scientific Presentations" page on kodiak.com.Phase 1b APEX Data of KSI-101 in MESI, Including New Data from a Tertiary Care CohortKSI-101 is a first-in-class, locally administered, high-strength bispecific protein in clinical development for the treatment of MESI, a heterogeneous group of diseases caused by a common pathophysiology – inflammation and blood-retinal barrier disruption. In the Phase 1b APEX study conducted in the United States, KSI-101 demonstrated rapid and meaningful visual and anatomical gains and was well tolerated. KSI-101 was further evaluated in an Asian clinical cohort. Results from this cohort were consistent with those observed in the U.S., supporting continued global development and expansion into Asia for the Phase 3 MESI program PEAK and PINNACLE. At this year's ARVO meeting, we will present results from both the U.S. study and, for the first time, results from the Asian cohort.1.Title: Bispecific Trap-Antibody Inhibiting Interleukin-6 and Vascular Endothelial Growth Factor (KSI-101): Clinical PK/PD Cohort in Asian Patients with Macular Edema Secondary to Inflammation (MESI)
Poster Session: Clinical features and treatment outcomes in uveitis
Date and Time: Monday, May 4, 11:15-1:00pm MT
Poster Number: 1568-0229
Speaker: Dr. Yih-Shiou Hwang, M.D., Ph.D., Professor and Head of Ophthalmology, Chang Gung Memorial Hospital, Linkou, Taipei and Taoyuan, Taiwan and Chang Gung UniversityWe will present first-time results from a clinical cohort of Asian patients with MESI treated at tertiary uveitis centers in Taiwan. Patients achieved meaningful visual improvements, including a ≥15-letter gain in 58% of patients and a mean BCVA increase of +17.8 letters at Week 24. Central subfield thickness (CST) was reduced to

I think the pipeline still carries the story here, but financing activity is a reminder of the risk. Everything still comes down to how the data plays out.

Kodiak Sciences Announces Recent Business Highlights and Fourth Quarter and Full Year 2025 Financial ResultsMarch 31, 2026 4:45 PM
PR Newswire (US)

PALO ALTO, Calif., March 31, 2026 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), today reported recent business highlights and financial results for the fourth quarter and full year ended December 31, 2025."Kodiak's momentum has continued to build, highlighted by positive Phase 3 topline results from the GLOW2 study and multiple advancing late-stage and pipeline programs that together reinforce the company's differentiated molecules, platform and long term growth strategy," said Victor Perlroth, M.D., Chief Executive Officer of Kodiak Sciences."The GLOW2 Phase 3 study delivered strong topline results showing meaningful efficacy, safety and durability of Zenkuda (tarcocimab tedromer) in diabetic retinopathy. These results represent a significant validation of the company's ABC platform, and we intend to move on an accelerated timeline toward a multi-indication Biologics License Application (BLA) submission for Zenkuda."We have also completed enrollment in the Phase 3 DAYBREAK study of both Zenkuda and KSI-501 in patients with neovascular age-related macular degeneration (wet AMD), with approximately 690 subjects enrolled. Topline data is expected in September 2026.We are also rapidly advancing KSI-101 with enrollment progressing well in the Phase 3 PEAK and PINNACLE studies. Topline results from PEAK are expected in 4Q 2026 and for PINNACLE in 2Q 2027. KSI-101 demonstrated compelling data in the Phase 1b APEX study in patients with macular edema secondary to inflammation (MESI). Final Phase 1b APEX data showed rapid and robust improvements in both vision and retinal anatomy, including high rates of ≥15-letter BCVA gains, early and sustained retinal drying, and encouraging durability. These findings support continued development and highlight the breadth of Kodiak's platform beyond anti-VEGF therapies into inflammatory retinal diseases.Beyond our lead programs, we continue to expand a diversified pipeline of bispecific antibody candidates, including KSI-102 and KSI-103, targeting key inflammatory pathways, as well as retina duet programs in glaucoma and geographic atrophy. Our duet programs, built on the ABC platform, reflect a strategy to address a broad range of high prevalence retinal diseases with differentiated, multi-targeted approaches.In parallel, we have made tremendous progress with our digital health and artificial intelligence capabilities through the VETi (Visual Engagement Technology and Imager) platform. Progress across hardware, software and machine learning is enabling the development of an AI-powered wearable headset with applications in retina care, alongside broader opportunities in identity security and cognitive science. This progress is reflective of Kodiak's long term planning and execution towards an enhanced identity as a vision sciences company, integrating proprietary therapeutics and next-generation vision technologies.Recent Business HighlightsZenkuda (tarcocimab tedromer)On March 26, 2026, Kodiak announced positive topline results in GLOW2, the second Phase 3 study in diabetic retinopathy, demonstrating superiority of Zenkuda (tarcocimab tedromer) over sham.Building on the success of GLOW1 and with all patients on a 6-month dosing interval, Zenkuda demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p

Ha thx ...theres a risk of a capital raise out there . Maybe they wait until the Wet AMD results in Q3 ( assuming they are as good as the DME results ) ...or maybe theres a BP partnership looming .
Either way Co will need $ before year end
JMO
Kiwi

It's aging well so far!

Vix over 30 , CNN Fear and Greed under 10 ...buying more KOD at $33.8
Posting for the record to see how this ages
Kiwi
My 2025 post at around $9

Whalatane
08/19/25 2:25 PM
#92 RE: Whalatane #91
So note to myself ...down 18% as I type to around $9
Will add some
Co will need $ but has a lot of readouts thru 2026 ...so worth at least some speculative $
JMO
Kiwi

From Trefis
The Roadmap to a Re-Rate...to $120 a share

The stock's ascent to a commercial multiple will happen sequentially based on three upcoming milestones:

Q3 2026 (The DAYBREAK Readout): Phase 3 data for wet AMD. This is an optionality play. A win adds a second multi-billion-dollar indication and will force immediate analyst upgrades. A miss trims the upside but leaves the Diabetic Retinopathy baseline intact.

Late 2026 (BLA Submission): The formal FDA filing for Zenkuda. This fundamentally de-risks the asset, lowering the discount rate applied to future cash flows.

2027 (FDA Approval & Launch):
The final re-rate. KOD stops trading on trial anxiety and starts trading on revenue visibility.

Risk is a likely capital raise some time in 2026.
I expect the Co to partner or sell to BP ( Big Pharma ) and not try to launch the drug themselves
JMO
Kiwi

UBS Maintains Buy on Kodiak Sciences, Raises Price Target to $80

Kiwi

What a scam trading 24 just for some not all traders?

$KOD: Holllyyyyyyyyyyy crap........ now $40


Just liike that huh.

Another $UGRO in the making ???


Or like $VCX............. whaddup


GO $KOD

Why the Results are Significant
The trial for Zenkuda™ (tarcocimab tedromer) met its primary endpoint with high statistical significance, showing that it can not only slow but significantly reverse the severity of the disease.

Primary Success Metric: 62.5% of patients treated with Zenkuda achieved a =2-step improvement in DRSS at Week 48, compared to only 3.3% in the control (sham) group.
Disease Reversal: Approximately 13.7% of patients even achieved a =3-step improvement, whereas 0% of the control group did.
Reduced Complications: The treatment led to an 85% reduction in the risk of developing sight-threatening complications like proliferative diabetic retinopathy or macular edema.

Impact on Treatment and Market
Analysts and clinicians view these results as a potential "paradigm shift" for several reasons:

Extended Durability:
The efficacy was achieved with an every 6-month dosing schedule, which is significantly less frequent than many current treatments that require monthly or bi-monthly injections.

Strong Safety Profile:
The study reported 0% intraocular inflammation, a critical safety metric that has historically been a challenge for long-acting ocular therapies.

GLP-1 Compatibility:
The results were consistent even in patients using GLP-1 medications (like Ozempic), which is vital as a large portion of the diabetic population now uses these drugs.

Regulatory Momentum: Following this "confirmatory" win (supporting the earlier GLOW1 study), Kodiak announced it now has a BLA-ready profile and intends to accelerate its FDA submission plans.

Kiwi

Claudes view on an exit
The real question is the exit pathway, not timing. Based on Baker Bros.' history, a voluntary open-market sale is unlikely near-term. The more probable eventual outcome would be:

Acquisition by a large pharma (Roche, Novartis, AbbVie, etc. are all active in retinal disease) if the Phase 3 data is positive — this is the classic Baker Bros. "exit". my emphasis
Long-term hold if Kodiak becomes a commercial-stage company on its own

Bottom line: The chances they sell KOD in the near term are low. They're in accumulation mode, the data catalysts are still ahead, and this fits their classic pattern of riding a position through its most critical inflection point. The more likely scenario is they hold through the 2026 Phase 3 readouts, and if successful, either hold even longer or get taken out via M&A.

This was before todays results
I go with the " get taken out via M&A "

Kiwi

Kodiak Sciences shares jump on encouraging Phase 3 trial resultsMarch 26, 2026 10:26 AM
IH Market News
Shares of Kodiak Sciences Inc. (NASDAQ:KOD) surged about 26% on Thursday after the company reported positive topline data from GLOW2, its second Phase 3 clinical trial evaluating Zenkuda (tarcocimab tedromer) for the treatment of diabetic retinopathy.In the study, 62.5% of patients treated with Zenkuda achieved at least a two-step improvement in their diabetic retinopathy severity score, compared with 3.3% of patients who received a sham treatment, meeting the trial’s primary endpoint with statistical significance. By the conclusion of the study, all participants were receiving the therapy on a six-month dosing schedule.Zenkuda also demonstrated an 85% reduction in the risk of developing sight-threatening complications. Such complications occurred in 2.4% of patients treated with Zenkuda, compared with 15.8% among those receiving the sham treatment. In addition, 13.7% of patients treated with the drug achieved a three-step or greater improvement in diabetic retinopathy severity score, compared with none in the control group.The GLOW2 trial broadened the patient population studied in the earlier GLOW1 trial by including individuals with proliferative diabetic retinopathy and mild diabetic macular edema. The study also included patients taking GLP-1 medications, with Zenkuda demonstrating similar efficacy regardless of concurrent GLP-1 therapy.Safety findings showed no reported cases of intraocular inflammation. Cataract-related adverse events occurred in 2.3% of patients receiving Zenkuda, compared with 1.6% in the sham group. No cases of retinal vasculitis or occlusive retinal vasculitis were observed.Following the results, Kodiak said it plans to accelerate the timeline for submitting a Biologics License Application for Zenkuda.The company also highlighted potential implications for other pipeline therapies, including KSI-501 and KSI-101, which are currently being evaluated in separate Phase 3 trials with results expected in 2026.Kodiak Sciences stock price

Original: Kodiak Sciences shares jump on encouraging Phase 3 trial results

Yes I'm in both RZLT and UNCY. I hold much larger positions in them.

Congrats. re where we go from here ....Baker Bros control this Co and they usually eventually sell to BP ( Big Pharma )
Baker Bros. Advisors, LP 19.92M Dec 31, 2025 37.55% 701,553,755
Are U also in RZLT ?

Kiwi

Yes my friend! I actually bought some more a few days ago. I'm ecstatic and owe it to you. I sold 25% at $38.50 this morning. Do you have any opinion about where we go from here?

Hi Canes ...still have your starter position ?
Kiwi

Wow
Kiwi

Kodiak Sciences Announces Positive Topline Results in GLOW2, the Second Phase 3 Study in Diabetic Retinopathy, Demonstrating Superiority of Zenkuda™ (tarcocimab tedromer) Over ShamMarch 26, 2026 6:00 AM
PR Newswire (US)

Building on the success of GLOW1 and with all patients on a 6-month dosing interval, Zenkuda (tarcocimab tedromer) demonstrated superiority to sham with 62.5% of Zenkuda-treated patients achieving a ≥2-step improvement in diabetic retinopathy severity score (DRSS) compared to 3.3% of sham-treated patients (p

Losing $200 million per year and hasn't reported any results since the quarter that ended September 30, 2025. They lost an estimated $100 since then. Management are selling shares, and KOD is diluting existing shareholders. Beware.

I think the P1 data is old data ...just being presented at this conference ...my first take
From Gemini

Clinical data for KSI-101 in the treatment of Macular Edema Secondary to Inflammation (MESI) is very strong, with the Phase 1b APEX study demonstrating high efficacy and a favorable safety profile. These results were positive enough that Kodiak has already advanced the drug into two pivotal Phase 3 studies.
Key Performance Indicators (Phase 1b APEX Study)
The Phase 1b data showed consistent, rapid, and sustained improvements across multiple metrics:
Vision Gains: Over 50-60% of patients at the top dose levels (5 mg and 10 mg) achieved a $\ge$15-letter gain (3 lines on the eye chart) by week 12.
Retinal Drying: More than 90% of patients achieved complete retinal dryness by week 8, with many showing improvement as early as week 1.
Safety: The drug was well tolerated with no major safety concerns reported, a significant advantage over current steroid-based treatments that often cause side effects.
Broad Activity: Results were consistent across diverse MESI etiologies (uveitic, idiopathic, etc.), suggesting it could serve as a unifying first-line therapy.
Future Outlook
Kodiak is currently enrolling patients in the PEAK and PINNACLE Phase 3 trials. Topline data from these studies is expected between Q4 2026 and Q1 2027. Experts have noted that the "drying effect" of KSI-101 is on par with or better than existing steroid implants like Ozurdex but without the associated risks.


They jump straight from P1 to 2 P3 pivotal trials .
That high confidence as pivotal P 3 trials are usually large and very expensive
JMO

Ah. Here you are

The Phase 1b clinical data for KSI-101 in patients with Macular Edema Secondary to Inflammation (MESI) from the APEX study was first publicly announced on August 13, 2025.

Subsequent detailed and follow-up data sets were published as follows:
Initial APEX Data (DME and MESI): Announced via Kodiak Sciences Business Highlights on August 13, 2025, showing rapid anatomical gains by Week 1.

Retina Society Presentation: New data reinforcing clinically meaningful vision gains were presented at the Retina Society 58th Annual Scientific Meeting on September 15, 2025.

Week 20 Follow-up Data: Released on November 5, 2025, highlighting that over 90% of patients achieved an absence of intraretinal and subretinal fluid.

Final Week 24 Data: Scheduled to be presented at the Angiogenesis, Exudation, and Degeneration 2026 Annual Meeting on February 7, 2026.

Thx for prompting me to do some DD
Theres probably going to be some important safety data released ...plus durability

Kiwi

OK I see the 24 wk P1 data is due Feb 7th . I was mainly waiting for the P3 GLOW2 data this Qt .
I'll do some more DD
Kiwi

Hi Canes. I'll do some more DD . I'm mainly in it because the Baker Bros have such a large position .
I'm leaving a note for you on the UNCY board
Kiwi

Morning Kiwi in looking at all these upcoming data releases what's the consensus on the outcomes being successful? Obviously the P1 on KSI-101 is the biggest gamble. Did they release anything anticipatory on that like FULC? I saw one analyst suggested a 35% chance of success. The rest are all P3. I assume there's a much higher probability of success based on the P1 & P2 data. Hence the Baker Brothers being so committed. I've got a starter position and can't decide if I want to build on it before the P1 about to be released. Unfortunately buying puts as a hedge is prohibitive. Thanks for the insight.

Re your view " going out within a year "
As of the most recent filings in late 2025 and January 2026, Baker Bros. Advisors LP maintains a dominant position in Kodiak Sciences Inc. (KOD), serving as both a 10% owner and having representation on the board of directors.
Current Stake Overview
Shares Owned: Approximately 18,358,772 shares as of a major purchase reported in December 2025.
Ownership Percentage: They control roughly 30% to 32.6% of the company’s outstanding shares.

The chances that the Baker Bros will lose their entire stake in this Co is about the same chances your analysis makes any sense ...ie close to zero
JMO
Kiwi

LoL, that is old news. I posted more recently than that. KOD had a massive dilution of shareholders, diluting them by $184 million. They got less than they needed. Unfortunately, KOD is losing more than $200 million per year. They are going out within a year. Beware.

Kodiak Sciences (KOD) last raised capital by closing an underwritten public offering of common stock on December 18, 2025, which generated approximately $184 million in gross proceeds.
Key Insights
The offering included the full exercise of the underwriters' option to purchase additional shares, resulting in a total of 8 million shares sold at a price of $23.00 per share.
The capital raise bolsters the company's financial position to fund its ongoing business operations and the development of its precommercial retina therapeutics pipeline.

They raised $184m ....they aren't disappearing any time soon
JMO
Kiwi

They need to start hyping. Tangible book value of KOD is going below $0 this quarter. Out of assets. Liabilities are exceeding assets. Shareholders may get nothing.

https://ir.kodiak.com/static-files/7624b280-fc1c-46a4-ad39-0e773e25d47c

JPM presentation

Kiwi

Yep here I was 3 yrs ago
Whalatane
Re: rosemountbomber post# 29
Monday, January 10, 2022 1:55:14 PM
Post# of 109
Bomber ...KOD presenting at JPM today
Baker Bros still own almost 30% of the Co from what I can tell ...last purchase at $93 a share !
I was stopped out of half my position in the 80's and have resigned myself to holding the remainder thru data read out Feb/March .
Oiy
Kiwi
Stopped out of half in the $80's . Don't remember how bad that loss was ...but back in under $9 I think.
Whalatane
Re: Whalatane post# 91
Tuesday, August 19, 2025 2:25:04 PM
Post# of 110
So note to myself ...down 18% as I type to around $9
Will add some
Co will need $ but has a lot of readouts thru 2026 ...so worth at least some speculative $
JMO
Kiwi

Baker Bros just bet another $60m on this ...So I guess I'm along for the ride and trying to get you , Canes , Fred , Ernie et al to join me :--)

Major Insider Purchase:
A key director, Bros. Advisors LP Baker, acquired over 2.6 million shares at a price of $23.00 per share in a transaction reported on December 18, 2025, a purchase valued at approximately $60 million.

Kiwi

Saw your post on the RZLT board concerning KOD.  I remember KOD way back when you mentioned it years ago.  Then of course disaster struck 3 years ago.  
I haven't followed it much.  I see that there are plenty of potential catalysts coming, and the insider buy is confidence building.  Canes seems to feel $100 is within reach down the road but analysts' targets (they are for one year out though) are considerably lower. 
Will keep an eye out on KOD.  

#KOD, $KOD, #KodiakSciences...Readouts in 2026 /27

1. KSI-101 P1 topline data in early Feb
2. Tarcosimab P3 topline data in Mar
3 KSI 501 & Tarcosimab P3 topline data in Sept
4. KSI-101 Peak P3 topline data in Dec
5. KSI-101 Pinnacle P3 topline data in 1H 2027

Kiwi

Ah Ha
KOD. wasn't aware of this large insider buy recently

Major Insider Purchase:
A key director, Bros. Advisors LP Baker, acquired over 2.6 million shares at a price of $23.00 per share in a transaction reported on December 18, 2025, a purchase valued at approximately $60 million.
This substantial investment has signaled strong insider confidence in the company's future prospects.


Kiwi

And surprise surprise ....positive market reaction

Kiwi

And so here they go
PALO ALTO, Calif., Dec. 15, 2025 /PRNewswire/ -- Kodiak Sciences Inc. (Nasdaq: KOD), a precommercial retina focused biotechnology company committed to researching, developing and commercializing transformative therapeutics, today announced that it has commenced an underwritten public offering of 6,000,000 of shares of its common stock.

Kiwi

May have to sell some more
Cash Runway and Need to Raise CapitalEstimated Runway as of September 30, 2025: With $72 million in cash and a ~$32 million quarterly burn, Kodiak had roughly 2.25 quarters (about 6-7 months) of runway at quarter-end, extending into mid-2026.
Updated Estimate as of December 4, 2025: Assuming consistent burn, approximately $64 million would have been used in Q4 to date (October-November), leaving ~$8 million in cash. This suggests a remaining runway of 1-2 months, putting the company at high risk of liquidity constraints by early 2026 (likely January-February 2026).
When They Will Need to Raise Capital: Kodiak will likely need to secure additional funding imminently, in Q1 2026 (January-March) to avoid operational disruptions. Earlier estimates from Q2 indicated funding needs into 2026, but accelerated Q3 spending has shortened this. Analysts and reports highlight this as a near-term priority, with concerns over sustainability without new capital. No specific fundraising announcements have been made as of December 4, 2025, but biotech firms like KOD often pursue equity offerings, partnerships, or grants in such scenarios.

Overall, while positive clinical data (e.g., from KSI-101) has boosted stock attention, Kodiak's financial position remains precarious, typical for late-stage biotechs. Investors should monitor upcoming earnings (expected February 2026) for updates on capital plans.


Kiwi

Upcoming Catalysts
Tarcocimab
Phase 3 GLOW2 diabetic retinopathy study – topline data on track for 1Q 2026
Phase 3 DAYBREAK wet AMD study – topline data expected 3Q 2026
KSI-501
Phase 3 DAYBREAK wet AMD study – topline data expected 3Q 2026
KSI-101 in MESI
Phase 1b APEX study – Week 24 data to be presented by Dr. Sumit Sharma on February 7 at the Angiogenesis, Exudation, and Degeneration 2026 Annual Meeting
Phase 3 PEAK study – topline data expected 4Q 2026
Phase 3 PINNACLE study – topline data expected 1Q 2027


Kiwi

Kodiak Sciences Shares Rise After JPMorgan Upgrade
MT Newswires · Oct-24-2025 2:10 PM ET
02:10 PM EDT, 10/24/2025 (MT Newswires) -- Kodiak Sciences (KOD.NaE) shares rose 5.1% in recent Friday trading after JPMorgan upgraded the stock to overweight from neutral and raised its price target to $24 from $15.

Kiwi

Note to self ...huge run last 2 days so I sold a portion to lock in some profit
Volatile stock
Kiwi

Huge day on heavy volume...one very volatile stock . Baker Bros still maintain large position IIRC.

Baker Bros. is a major shareholder in KOD, holding a significant portion of the company's outstanding shares.
As of the most recent 13F filing (Q2 2025), Baker Bros. Advisors reported ownership of approximately 12.5 million shares (about 25–30% of the float, based on Kodiak's ~50 million shares outstanding).



Kiwi

The company reported that its net loss for the second quarter of 2025 was $54.3 million, or $1.03 per share, in comparison to a net loss of $45.1 million, or $0.86 per share, in the same quarter of 2024.
It ended the second quarter of 2025 with $104.2 million in cash and cash equivalents.
Management indicated that current liquidity is expected to support ongoing and expected operational activities into 2026.


So setting up for a capital raise ?

Kiwi

So I guess you dont think much of their latest data ?
Meaningful vision gains are rapidly achieved as early as week 4 and more than half of patients in the top two dose levels improved 3-lines or more on the eye chart (≥15 letter gain)
A single dose of KSI-101 resulted in the majority of patients achieving resolution of intra-retinal and sub-retinal fluid and over 90% of patients achieved retinal dryness by Week 8

Kiwi

Sorry to those who got duped into buying at $19 per share. Have a nice swim.

They jumped from a P 1 trial ...straight into a P 3 trial thats actively enrolling .
Earliest data tho is late 2026 I think

Kiwi

Up 60% on 5X volume!!
Kiwi

Jefferies analyst Maury Raycroft initiates coverage on Kodiak Sciences ( KOD ) with a Buy rating and announces Price Target of $15.

Kiwi

So note to myself ...down 18% as I type to around $9
Will add some
Co will need $ but has a lot of readouts thru 2026 ...so worth at least some speculative $
JMO
Kiwi

Wow was I right on that ....that being absolutely mad to be in KOD again .
A quick 15% decline to remind me to avoid FOMO .
Small position ...may add if this gets washed out .

Kiwi