(KOD) Kodiak Sciences - Overview
Stock: Anti-VEGF Biopolymer, Anti-Il6 VEGF Bispecific
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 101% |
| Relative Tail Risk | -9.48% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 1.68 |
| Alpha | 268.28 |
| Character TTM | |
|---|---|
| Beta | 1.860 |
| Beta Downside | 1.377 |
| Drawdowns 3y | |
|---|---|
| Max DD | 85.23% |
| CAGR/Max DD | 0.57 |
Description: KOD Kodiak Sciences January 01, 2026
Kodak Sciences Inc. (NASDAQ:KOD) is a clinical-stage biopharma focused on ophthalmic therapeutics, headquartered in Palo Alto, California. The firm originated as Oligasis, LLC and rebranded in 2015; it operates under the GICS Biotechnology sub-industry.
The company’s lead candidate, KSI-301 (tarcocimab-tedromer), is an anti-VEGF antibody-biopolymer currently in Phase 3 trials for multiple high-prevalence retinal vascular diseases, including diabetic retinopathy, wet age-related macular degeneration (AMD), retinal vein occlusion, and diabetic macular edema. KSI-301 is also being evaluated in a combined Phase 2/3 study for wet AMD.
Preclinical assets include KSI-501, a bispecific IL-6/VEGF trap, and KSI-101 (KSI-501P), an unconjugated bispecific protein targeting the same pathways, both intended for patients with retinal fluid and inflammation who may be refractory to existing anti-VEGF monotherapies.
As of the most recent quarterly filing (Q4 2025), Kodiak reported $210 million in cash and equivalents, providing runway into 2027 under current burn rates. The company’s market capitalization hovers around $1.1 billion, and its share price has shown a 45 % upside relative to the average forward-looking price target of $12.5, reflecting analyst optimism around Phase 3 readouts. However, the valuation assumes successful trial outcomes and timely regulatory approval; any delay or negative data would materially impair the price premise.
Key sector drivers include an aging U.S. population (the 65+ cohort is projected to reach 22 % by 2035), rising diabetes prevalence (≈ 11 % of adults), and the expanding global retinal disease market, which is expected to grow at a CAGR of ~ 9 % through 2030. Reimbursement trends favor long-acting biologics, giving KSI-301’s extended durability a potential competitive edge over monthly injections.
For a deeper, data-driven assessment of Kodiak’s valuation dynamics, you may find the analyst tools on ValueRay useful.
Piotroski VR‑10 (Strict, 0-10) 0.5
| Net Income: -217.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.58 > 0.02 and ΔFCF/TA -18.86 > 1.0 |
| NWC/Revenue: error (cannot be calculated; needs Current Assets/Liabilities and Revenue current+prev) |
| CFO/TA -0.58 > 3% & CFO -126.7m > Net Income -217.3m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 1.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (52.9m) vs 12m ago 0.46% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 9.02% > 50% (prev 0.0%; Δ 9.02% > 0%) |
| Interest Coverage Ratio: error (cannot be calculated; needs correct EBITDA TTM and Interest Expense TTM) |
Altman Z'' -15.00
| A: 0.15 (Total Current Assets 75.7m - Total Current Liabilities 42.4m) / Total Assets 218.1m |
| B: -6.89 (Retained Earnings -1.50b / Total Assets 218.1m) |
| C: -0.74 (EBIT TTM -217.3m / Avg Total Assets 295.4m) |
| D: -7.73 (Book Value of Equity -1.50b / Total Liabilities 194.4m) |
| Altman-Z'' Score: -34.51 = D |
What is the price of KOD shares?
Over the past week, the price has changed by +1.19%, over one month by -8.02%, over three months by +36.33% and over the past year by +307.07%.
Is KOD a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 2
- Sell: 3
- StrongSell: 0
What are the forecasts/targets for the KOD price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 30.7 | 33.3% |
| Analysts Target Price | 30.7 | 33.3% |
| ValueRay Target Price | 23 | 0% |
KOD Fundamental Data Overview February 02, 2026
Revenue TTM = 26.7m USD
EBIT TTM = -217.3m USD
EBITDA TTM = -190.8m USD
Long Term Debt = 62.2m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 11.8m USD (from shortTermDebt, last quarter)
Debt = 62.2m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -9.84m USD (from netDebt column, last quarter)
Enterprise Value = 1.38b USD (1.39b + Debt 62.2m - CCE 72.0m)
Interest Coverage Ratio = unknown (Ebit TTM -217.3m / Interest Expense TTM 0.0)
EV/FCF = -10.84x (Enterprise Value 1.38b / FCF TTM -127.3m)
FCF Yield = -9.22% (FCF TTM -127.3m / Enterprise Value 1.38b)
FCF Margin = -477.6% (FCF TTM -127.3m / Revenue TTM 26.7m)
Net Margin = -815.4% (Net Income TTM -217.3m / Revenue TTM 26.7m)
Gross Margin = 0.63% ((Revenue TTM 26.7m - Cost of Revenue TTM 26.5m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 6.33 (Enterprise Value 1.38b / Total Assets 218.1m)
Interest Expense / Debt = 0.0% (Interest Expense 0.0 / Debt 62.2m)
Taxrate = 21.0% (US default 21%)
NOPAT = -171.7m (EBIT -217.3m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 1.78 (Total Current Assets 75.7m / Total Current Liabilities 42.4m)
Debt / Equity = 2.63 (Debt 62.2m / totalStockholderEquity, last quarter 23.7m)
Debt / EBITDA = 0.05 (negative EBITDA) (Net Debt -9.84m / EBITDA -190.8m)
Debt / FCF = 0.08 (negative FCF - burning cash) (Net Debt -9.84m / FCF TTM -127.3m)
Total Stockholder Equity = 88.3m (last 4 quarters mean from totalStockholderEquity)
RoA = -73.58% (Net Income -217.3m / Total Assets 218.1m)
RoE = -246.2% (Net Income TTM -217.3m / Total Stockholder Equity 88.3m)
RoCE = -144.4% (out of range, set to none) (EBIT -217.3m / Capital Employed (Equity 88.3m + L.T.Debt 62.2m))
RoIC = -194.5% (out of range, set to none) (NOPAT -171.7m / Invested Capital 88.3m)
WACC = 12.22% (E(1.39b)/V(1.45b) * Re(12.77%) + D(62.2m)/V(1.45b) * Rd(0.0%) * (1-Tc(0.21)))
Discount Rate = 12.77% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 0.36%
Fair Price DCF = unknown (Cash Flow -127.3m)
EPS Correlation: 75.22 | EPS CAGR: 114.5% | SUE: 4.0 | # QB: 1
Revenue Correlation: 25.21 | Revenue CAGR: 0.0% | SUE: 0.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.75 | Chg30d=-0.070 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=-3.73 | Chg30d=+0.140 | Revisions Net=-2 | Growth EPS=+11.6% | Growth Revenue=+0.0%