Kodiak Sciences Inc
KODHealthcare|Biotechnology|USA
$41.28
+1.23 (+3.07%)
Tangible Book
$1.80
Financials
Financial Snapshot
Market Cap
$2.58B
Enterprise Value
$113.5M
Revenue (TTM)
$0.00
Net Income (TTM)
$-230.7M
Cash & Equivalents
—
Net Cash/Share
$-0.39
Free Cash Flow (TTM)
$-148.1M
Operating CF (TTM)
$-146.9M
Debt/Equity
0.5
Cash Runway & Burn Rate
Cash on Hand
$0.00
Quarterly Burn
$36.7M
Monthly Burn
$12.2M
Est. Runway
—
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $9.6M | $1.4M | $88.3M | $336.5M | $969.0M | $731.5M | $478.9M | $285.5M | $168.1M | $209.9M | $169.5M | |
| Operating Cash Flow | $-16.0M | $-17.7M | $-29.0M | $-39.1M | $-83.4M | $-182.3M | $-206.5M | $-154.2M | $-117.3M | $-136.0M | $-146.9M | |
| Free Cash Flow | $-16.8M | $-17.9M | $-29.6M | $-39.6M | $-90.4M | $-245.6M | $-253.8M | $-195.6M | $-117.7M | $-136.5M | $-148.1M | |
| Capital Expenditure | $-771.0K | $-209.0K | $-581.0K | $-437.0K | $-7.0M | $-63.3M | $-47.4M | $-41.4M | $-400.0K | $-506.0K | $-1.2M | |
| Financing Cash Flow | $-120.0K | $9.6M | $116.5M | $299.7M | $717.4M | $8.2M | $1.9M | $31.0K | $501.0K | $178.3M | $178.8M |
R&D Spending
R&D (TTM)
$187.3M
R&D Intensity
—
R&D Growth YoY
+2.7%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $14.1M | $22.0M | $18.8M | $37.5M | $107.4M | $217.3M | $267.6M | $206.3M | $126.1M | $182.4M | $187.3M | |
| R&D % of Revenue | — | — | — | — | — | — | — | — | — | — | — | |
| SG&A | $3.1M | $3.5M | $7.6M | $11.7M | $28.6M | $49.7M | $73.8M | $71.0M | $60.8M | $52.0M | $47.8M |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Goods Sold | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D | $14.1M | $22.0M | $18.8M | $37.5M | $107.4M | $217.3M | $267.6M | $206.3M | $126.1M | $182.4M | $187.3M | |
| SG&A | $3.1M | $3.5M | $7.6M | $11.7M | $28.6M | $49.7M | $73.8M | $71.0M | $60.8M | $52.0M | $47.8M | |
| Operating Income | $-17.2M | $-25.5M | $-26.4M | $-49.2M | $-136.0M | $-267.1M | $-341.4M | $-277.3M | $-186.8M | $-234.4M | $-235.1M | |
| Interest Expense | $-6.0K | $-1.2M | $-5.5M | $-8.0K | $-25.0K | $-47.0K | $-18.0K | $-13.0K | $0.00 | $0.00 | $0.00 | |
| Pretax Income | $-17.1M | $-27.9M | $-41.4M | $-47.4M | $-133.1M | $-267.0M | $-333.8M | $-260.5M | $-176.2M | $-230.0M | $-230.7M | |
| Net Income | $-17.1M | $-27.9M | $-41.4M | $-47.4M | $-133.1M | $-267.0M | $-333.8M | $-260.5M | $-176.2M | $-230.0M | $-230.7M | |
| EPS (Diluted) | -0.65 | -1.05 | -2.77 | -1.25 | -2.91 | -5.16 | -6.39 | -4.97 | -3.35 | -4.32 | -4.17 | |
| EBITDA | $-16.9M | $-26.2M | $-35.4M | $-46.4M | $-128.9M | $-258.2M | $-322.8M | $-234.5M | $-149.5M | $-203.6M | $-204.7M | |
| Shares Out. (M) | 26.56 | 26.56 | 14.98 | 37.85 | 45.74 | 51.79 | 52.25 | 52.41 | 52.58 | 53.21 | 61.86 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $9.6M | $1.4M | $88.3M | $211.8M | $944.4M | $731.5M | $190.4M | $285.5M | $168.1M | $209.9M | $169.5M | |
| Marketable Securities | $0.00 | $0.00 | $0.00 | $124.7M | $24.6M | $0.00 | $288.5M | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $10.2M | $1.6M | $90.4M | $339.2M | $972.0M | $734.8M | $486.0M | $289.3M | $171.9M | $214.8M | $175.3M | |
| Total Assets | $12.1M | $3.2M | $92.2M | $358.9M | $1.07B | $904.2M | $666.6M | $479.4M | $335.6M | $351.5M | $306.0M | |
| Total Current Liabilities | $2.5M | $9.2M | $4.8M | $11.7M | $31.4M | $64.7M | $52.5M | $41.7M | $25.6M | $45.5M | $49.6M | |
| Long-Term Debt | $0.00 | $9.9M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $53.2M | $72.0M | $5.4M | $13.5M | $206.6M | $240.9M | $230.5M | $213.6M | $185.3M | $194.2M | $193.9M | |
| Stockholders' Equity | $-41.1M | $-68.7M | $86.8M | $345.4M | $860.8M | $663.3M | $436.2M | $265.8M | $150.3M | $157.4M | $112.1M | |
| Retained Earnings | $-41.4M | $-69.3M | $-110.8M | $-158.1M | $-291.2M | $-558.2M | $-892.0M | $-1.15B | $-1.33B | $-1.56B | $-1.62B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $-16.0M | $-17.7M | $-29.0M | $-39.1M | $-83.4M | $-182.3M | $-206.5M | $-154.2M | $-117.3M | $-136.0M | $-146.9M | |
| Capital Expenditure | $-771.0K | $-209.0K | $-581.0K | $-437.0K | $-7.0M | $-63.3M | $-47.4M | $-41.4M | $-400.0K | $-506.0K | $-1.2M | |
| Free Cash Flow | $-16.8M | $-17.9M | $-29.6M | $-39.6M | $-90.4M | $-245.6M | $-253.8M | $-195.6M | $-117.7M | $-136.5M | $-148.1M | |
| Investing Cash Flow | $-771.0K | $-209.0K | $-581.0K | $-137.0M | $104.8M | $-38.8M | $-336.5M | $249.2M | $-755.0K | $-506.0K | $-1.2M | |
| Financing Cash Flow | $-120.0K | $9.6M | $116.5M | $299.7M | $717.4M | $8.2M | $1.9M | $31.0K | $501.0K | $178.3M | $178.8M | |
| Issuance of Stock | $0.00 | $0.00 | $83.8M | $297.6M | $612.0M | $0.00 | $0.00 | $0.00 | $0.00 | $173.0M | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $-132.0K | $-487.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Issuance of Debt | $0.00 | $10.0M | $33.0M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Payments of Debt | $-62.0K | $-97.0K | $-108.0K | $-48.0K | $-5.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $272.0K | $275.0K | $2.7M | $6.1M | $30.7M | $61.4M | $106.0M | $88.6M | $60.2M | $58.9M | $55.1M | |
| Net Change in Cash | $-16.9M | $-8.2M | $86.9M | $123.5M | $738.8M | $-212.9M | $-541.1M | $95.1M | $-117.6M | $41.8M | $30.7M |
Dilution Tracker
Shares Outstanding
62M
5-Year Share Growth
+19.4%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 26.56 | 26.56 | 14.98 | 37.85 | 45.74 | 51.79 | 52.25 | 52.41 | 52.58 | 53.21 | 61.86 | |
| YoY Change % | — | 0.0% | -43.6% | 152.7% | 20.8% | 13.2% | 0.9% | 0.3% | 0.3% | 1.2% | 16.3% | |
| Stock Issuance | $0.00 | $0.00 | $83.8M | $297.6M | $612.0M | $0.00 | $0.00 | $0.00 | $0.00 | $173.0M | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $-132.0K | $-487.0K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $272.0K | $275.0K | $2.7M | $6.1M | $30.7M | $61.4M | $106.0M | $88.6M | $60.2M | $58.9M | $55.1M |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| Net Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| EBITDA Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | - | |
| FCF Margin % | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| ROE % | 0.0% | 0.0% | -458.1% | -21.9% | -22.1% | -35.0% | -60.7% | -74.2% | -84.7% | -149.5% | -244.2% | |
| ROA % | -141.4% | -363.8% | -86.9% | -21.0% | -18.7% | -27.1% | -42.5% | -45.5% | -43.2% | -66.9% | -80.6% | |
| R&D / Revenue | - | - | - | - | - | - | - | - | - | - | - |
Valuation
P/E (TTM)At Loss
HistoricalAt Loss / At Loss / At Loss
Industry Med.27.51
P/S—
Historical— / — / —
Industry Med.9.49
P/B22.88
Historical— / — / 22.88
Industry Med.2.93
EV/EBITDA-12.06
Historical-12.06 / — / —
Industry Med.13.02
EV/Revenue—
Historical— / — / —
Industry Med.8.59
P/FCF—
Historical— / — / —
Industry Med.27.13
Intrinsic Value Models
Tangible Book
$1.80
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PE Ratio | N/A | N/A | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | At Loss | |
| PS Ratio | - | - | - | - | - | - | - | - | - | - | 0.00 | |
| PB Ratio | 0.00 | 0.00 | 3.01 | 9.25 | 8.72 | 6.62 | 0.86 | 0.60 | 3.49 | 10.97 | 22.88 | |
| EV/EBITDA | 0.00 | 0.00 | -4.89 | -61.60 | -51.35 | -14.49 | 0.05 | 0.19 | -2.86 | -7.74 | -12.06 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
—
Distress
Piotroski F-Score
1
Weak
Beneish M-Score
—
Possible Manipulator
Forward Estimates
| Metric | Current Year | Next Year | 2 Years Out |
|---|---|---|---|
| Revenue | $0.00M | $47.90M | $236.31M |
| Net Income | $-240.72M | $-221.07M | $-67.06M |
| EPS | -3.75 | -3.12 | -0.86 |
| Book Value per Share | 3.51 | 4.18 | 4.72 |
| Operating Cash Flow per Share | -3.31 | -2.76 | -0.38 |
| Operating CF | $-204.44M | $-170.73M | $-23.51M |