Kodiak Sciences Q4 net loss widens on higher R&D spending

Kodiak Sciences

31/03/2026 21:55

Overview

Retina-focused biotech's Q4 net loss widened yr/yr, driven by increased clinical trial activity

Company ended 2025 with $209.9 mln in cash after completing $173 mln equity offering

Outlook

Kodiak plans to accelerate BLA submission for Zenkuda following positive Phase 3 results

Topline data from DAYBREAK Phase 3 study for Zenkuda and KSI-501 expected in 3Q 2026

Company expects topline data from PEAK and PINNACLE studies for KSI-101 in 4Q 2026 and 2Q 2027

Result Drivers

HIGHER R&D SPENDING - Q4 R&D expenses rose due to increased clinical activities in DAYBREAK and PEAK/PINNACLE studies and higher stock-based compensation

LOWER G&A EXPENSES - Q4 G&A expenses fell yr/yr, helped by sublease income from a corporate office building

Company press release: ID:nPn10rqTa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 EPS
-$1.04
Q4 Net Income
-$56.7 mln
Q4 Operating Income
-$57.5 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the biotechnology & medical research peer group is "buy"

Wall Street's median 12-month price target for Kodiak Sciences Inc is $57.00, about 69.3% above its March 30 closing price of $33.66

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)