Kodiak Sciences (KOD) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Kodiak Sciences

NasdaqGM•Healthcare•Biotechnology

$35.36-1.00(-0.03%)Market closed

Market Cap

$2.06B

P/B

33.7x

Kodiak Sciences Inc., a clinical stage biopharmaceutical company, engages in the research, development, and commercialization of therapeutics to treat retinal diseases. Its lead product candidate is tarcocimab tedromer (KSI-301), an anti-vascular endothelial growth factor (VEGF) antibody biopolymer that has complete Phase 3 clinical study to treat high prevalence retinal vascular diseases; and in Phase 3 clinical study for the treatment of diabetic retinopathy, wet age-related macular degeneration (AMD), retinal vein occlusion, and diabetic macular edema, as well as in Phase 2/3 clinical study to treat wet AMD. The company's preclinical stage product candidate includes KSI-501, an anti- interleukin-6 (IL-6) and VEGF-trap bispecific antibody biopolymer conjugate for high prevalence retinal vascular diseases; and KSI-101 (KSI-501P), a bispecific protein targeting IL-6 and VEGF developed for patients who have retinal fluid and inflammation. The company was formerly known as Oligasis, LLC and changed its name to Kodiak Sciences Inc. in September 2015. Kodiak Sciences Inc. was incorporated in 2009 and is based in Palo Alto, California.

How this company scores

WeakMetricSide Score: 29/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (4/25).

Profitability4/25

Growth6/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality4/25

Strengths

Interest easily coveredNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/B · 33.7x5y range 0.3x – 35.3x

Currently above its 20-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $2.06B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $0
Q. Revenue: $0
TTM EBITDA: $-229.07M
TTM Op. Income: $-246.42M
Q. Op. Income: $-66.84M
TTM Net Income: $-241.99M
Q. Net Income: $-65.64M
EPS: $-1.05
Shares Out.: $62.63M

$0 in TTM revenue was flat at zero YoY, reaching $0 last quarter. TTM EBITDA of $-229.07M and TTM operating income of $-246.42M show growth is flowing through to the bottom line. However, net income is negative at $241.99M — growth is not yet reaching the bottom line.

Margins

Gross, EBITDA, operating, and net margin trends

EBITDA Margin: N/A
Op. Margin: -6683800000.0%
Net Margin: -6564300000.0%

Op. margin of -6683800000.0% is down 1132800000.0% YoY — costs are rising relative to revenue. Net margin at -6564300000.0% Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: 33.7x

P/S of 0.0x and P/B of 33.7x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $256.81M
Cash: $125.90M
Long-Term Debt: N/A
Book Value: $61.10M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-46.24M
TTM Free Cash Flow: $-159.90M
FCF Margin: N/A
FCF / Net Income: 0.7

TTM FCF of $-159.90M on $-46.24M in operating cash flow. The FCF / Net Income ratio of 0.7x means cash covers only part of net income — earnings quality needs attention. Across the last 8 quarters, free cash flow has fallen for 5 consecutive quarters — a weakening trend.