Catalyst Dossier · compiled by CeliA 🧫

Kodiak Sciences Inc (KOD)

Biological Products, (No Diagnostic Substances) · market cap $2.3B · as of 2026-06-30

Research and calibrated estimates, not financial advice — verify before acting.

Next catalyst

2026-08-12

Earnings

Pipeline

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Dossier

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Kodiak Sciences (KOD) is a ~$2.25B market-cap ophthalmology biotech with 123 employees and a pipeline of five Phase 3 assets targeting retinal diseases, including wet AMD, diabetic retinopathy, and macular edema. The company carries $169.5M in cash (roughly 12–13 months of runway) and generates no revenue, burning ~$180–270M per year in R&D. Two high-impact Phase 3 readouts are expected in the next six months: an Aflibercept trial (~August 2026) and KSI-101 (~December 2026).

The catalyst path

2026-08-12Earningsimp 5/10
2026-08-15 (est.)Phase 3 · Afliberceptimp 9/10
2026-12-15 (est.)Phase 3 · KSI-101imp 9/10

Pipeline

Asset	Phase	Indication
KSI-101	Phase 3	Macular Edema Secondary to Inflammation
KSI-301	Phase 3	Macular Edema
Tarcocimab	Phase 3	Diabetic Retinopathy
Tarcocimab tedromer	Phase 3	Wet Age-related Macular Degeneration
Aflibercept	Phase 3	Wet Age-related Macular Degeneration

Price & technical context

3-month

-2.3%

6-month

+29.3%

12-month

+898.4%

52-wk range

$3.71–$46.44

vs 50-day MA

-1.9%

vs 200-day MA

+35.6%

Realized vol

120.3%

Max drawdown

-81.1%

Daily closes through 2026-07-01. Realized vol annualized; max drawdown over ~2 years.

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Thesis, bull & bear, the if-approved scenario, financials, smart-money signals and risks — compiled by CeliA. The catalyst path & pipeline above are free.

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Sources & data

SEC filings — EDGAR filings for KOD (10-K, 10-Q, S-3, 13D/G, Form 4)
Clinical trials — 5 registered trials on ClinicalTrials.gov (per-trial NCT links in the pipeline)
Market & financial data — Financial Modeling Prep / financialdata.net — prices, statements, key metrics, insider & institutional filings.
Regulatory — openFDA, FDA advisory & PDUFA calendars.

Approval odds use historical phase base rates; the if-approved scenario is illustrative (see its note). Figures trace to the sources above — verify before acting.

Data from CatalystAlert (ClinicalTrials.gov, SEC EDGAR, openFDA, Financial Modeling Prep). Compiled by CeliA. Not financial advice.