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Develops long-acting biologic therapies for retinal diseases like wet age-related macular degeneration.
Develops long-acting biologic therapies for retinal diseases like wet age-related macular degeneration.
Has no products on the market and no sales; operating costs are paid from money raised from investors, with cash use driven by late-stage trials. Future income depends on trial results and regulatory approval for tarcocimab and related antibody drugs.
Moat: none (IP / patents). Aims for less-frequent dosing than approved anti-VEGF drugs, but has faced repeated clinical setbacks.
Headquarters: Palo Alto, California, US · Founded: 2009 · Employees: 124
Size Kodiak Sciences (KOD) is a United States Health Care company (Biotechnology) with a market value of $6.24B, the 1037th largest of 3,117 United States companies the cockpit tracks. Shares closed at $99.30 on 6 Nov 2026.
Performance Over six months the shares gained 142.1%, against -1.4% for the median peer and -1.1% for the United States market (cap-weighted) — 2nd highest of 21 in its peer set.
Valuation It trades at 102.12× book value against a peer median of 7.54× (most expensive of 21).
Price implies The share price implies a return on equity of about 1,223.4%; Kodiak Sciences delivers -368.4%, so the price asks more than the business earns today.
Short interest Short interest is 13.5% of the free float (15 Oct 2026).
Next results Next results expected around 12 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 |
| Revenue growth | — | — | — | — | — |
| Gross profit | -$25.6M | -$26.3M | -$26.7M | -$25.9M | -$11.0M |
| EBITDA | -$221M | -$206M | -$160M | -$251M | -$330M |
| Net income | -$242M | -$230M | -$176M | -$260M | -$334M |
| Free cash flow | -$160M | -$137M | -$118M | -$196M | -$254M |
| Capital expenditure | $1.40M | $506,000 | $400,000 | $41.4M | $47.4M |
| Total debt | $153M | $159M | $170M | $182M | $188M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE |
|---|---|---|---|---|---|---|
| Kodiak Sciences KOD | $6.24B | +142% | n/a | -368% | 102.12× | 1,223.4% |
| Regeneron Pharmaceuticals REGN | $93.5B | +27% | +19% | 15% | 2.79× | 12.4% |
| Roche RO.SW | $385B | +22% | -1% | 40% | 9.75× | 46.0% |
| Ocular Therapeutix OCUL | $1.45B | -32% | -8% | -73% | 2.78× | 25.2% |
| EyePoint EYPT | n/a | +13% | n/a | n/a | n/a | n/a |
| 4D Molecular Therapeutics FDMT | $677M | +21% | +278,712% | -43% | 1.66× | 30.2% |
| Novartis NOVN.SW | $298B | +15% | -4% | 24% | 8.09× | 31.7% |
| REGENXBIO RGNX | $503M | -28% | +12% | -138% | 5.75× | 49.3% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | KOD | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +5.3% | -1.6% | 6th highest of 21 |
| 6-month return | +142.1% | -1.4% | 2nd highest of 21 |
| Return on equity | -368.4% | -25.8% | lowest of 21 |
| Price / book | 102.12× | 7.54× | most expensive of 21 |
| ROE the price implies | 1,223.4% | 42.4% | most demanding of 21 |
| ROE delivered | -368.4% | -25.9% | lowest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Kodiak Sciences KOD | United States | $6.24B | +142% | n/a | -368% | 102.12× | 1,223.4% | -368.4% |
| Immunovant IMVT | United States | $6.31B | +5% | n/a | -80% | 8.56× | 59.5% | -80.1% |
| CG Oncology CGON | United States | $6.74B | +9% | +1,030% | -26% | 6.52× | 26.5% | -26.4% |
| Scholar Rock SRRK | United States | $5.72B | -3% | n/a | -168% | 22.49× | 134.0% | -167.8% |
| Hangzhou Tigermed Consulting 3347.HK | Hong Kong | $5.65B | -1% | +22% | -2% | 1.42× | 15.3% | -2.0% |
| Axsome Therapeutics AXSM | United States | $6.96B | -39% | +54% | -176% | 66.01× | 407.3% | -175.6% |
| Cogent Biosciences COGT | United States | $5.49B | -9% | n/a | -110% | 11.62× | 45.4% | -109.7% |
| Caris Life Sciences CAI | United States | $7.13B | +56% | +85% | 20% | 12.05× | 67.8% | 20.1% |
| Anthem Biosciences ANTHEM.NS | India | $5.46B | +17% | -1% | 20% | 15.73× | 124.0% | 20.4% |
| Chongqing Zhifei Biological Products 300122.SZ | China | $5.35B | -2% | -28% | -64% | 2.35× | 24.5% | -63.8% |
| 10x Genomics TXG | United States | $7.72B | +174% | -4% | -9% | 9.36× | 115.5% | -9.4% |
| 3SBio 1530.HK | Hong Kong | $4.92B | -34% | +102% | 37% | 1.19× | 10.4% | 36.7% |
| Twist Bioscience TWST | United States | $7.95B | +112% | +19% | -30% | 16.98× | 225.7% | -29.6% |
| Edgewise Therapeutics EWTX | United States | $4.89B | +28% | n/a | -38% | 10.83× | 44.6% | -38.0% |
| Shanghai RAAS Blood Products 002252.SZ | China | $4.89B | -11% | -22% | 3% | 1.00× | 4.0% | 3.3% |
| CRISPR Therapeutics CRSP | United States | $4.86B | -9% | -34% | -26% | 2.94× | 36.6% | -25.6% |
| Dianthus Therapeutics DNTH | United States | $4.81B | -1% | -61% | -26% | 4.02× | 40.2% | -26.1% |
| Arrowhead Pharmaceuticals ARWR | United States | $8.22B | -20% | +17% | -65% | 17.63× | 154.9% | -64.8% |
| Beijing Wantai Biological Pharmacy Enterprise 603392.SS | China | $4.72B | -37% | +8% | -4% | 2.71× | 19.7% | -3.8% |
| Joinn Laboratories (China) 603127.SS | China | $4.58B | +15% | +12% | 13% | 3.56× | 37.1% | 13.3% |
| Changchun High-Tech Industry (Group) 000661.SZ | China | $4.51B | -13% | -18% | -2% | 1.32× | 13.5% | -1.9% |