Kodiak Sciences Inc.

Biotechnology • Healthcare • Palo Alto, CA, United States • KOD (NGM)

650 281 0850 1200 Page Mill Road, Palo Alto, CA 94304, United States

Quarter: Q4 2025 Reported: November 13, 2025 Sentiment: Neutral

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), an unconjugated 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.

Analysis Summary

Kodiak Sciences Inc. issued a Form 8-K on November 13, 2025, to formally disclose the publication of a press release regarding its financial results for the quarter ended September 30, 2025, along with business highlights. The provided transcript is a legal disclosure stating that the company reported its Q4 2025 performance. However, the full content of the press release (Exhibit 99.1), which would contain detailed financial performance breakdowns, strategic initiatives, management commentary, competitive positioning, market trends, risk factors, and analyst Q&A highlights, is not included in this excerpt. The document also includes a standard legal disclaimer, noting that the information contained within this specific 8-K filing is not considered 'filed' for purposes of Section 18 of the Securities Exchange Act of 1934, nor incorporated by reference into other filings, except as expressly set forth. Consequently, a comprehensive analysis of financial metrics, strategic direction, or market sentiment cannot be derived from the provided text.

Key Highlights

• Kodiak Sciences Inc. reported Q4 2025 financial results.
• Results were for the quarter ended September 30, 2025.
• A press release detailing results and business highlights was published on November 13, 2025.
• The full press release content is not included in this transcript.
• The information in this 8-K is subject to specific legal disclaimers regarding filing status.

Financial Metrics

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YoY: N/A

revenue

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guidance

net income

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Stock Performance (90 Days)

Data through Dec 30, 2025

Layoff Events

Earnings Calls

Positive Signals

• Formal reporting of financial results indicates ongoing operational transparency (though details are absent).

Risks & Concerns

— Lack of specific financial details in the provided transcript prevents a full risk assessment.
— Reliance on external Exhibit 99.1 for critical financial and business information.