Kodiak Reports Larger-than-Expected Loss in Q3, Emphasizes Pipeline Development
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 14 2025
0mins
Source: NASDAQ.COM
Financial Performance: Kodiak Sciences reported a loss of $1.16 per share in Q3 2025, exceeding the expected loss of $1.07, with no approved products leading to zero revenue generation. Research and development expenses rose by 58% year-over-year to $50.5 million.
Clinical Trials: The company is conducting phase III studies for its candidates tarcocimab and KSI-501, targeting diabetic retinopathy and wet age-related macular degeneration, with top-line data expected in 2026.
Cash Position: As of September 30, 2025, Kodiak had $72 million in cash and marketable securities, a decrease from $104.2 million in June 2025, while its stock has surged 89.1% year-to-date.
Market Position: Kodiak holds a Zacks Rank #3 (Hold), while other biotech stocks like ANI Pharmaceuticals and Arcutis Biotherapeutics have better rankings and have shown significant earnings growth in recent months.
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Analyst Views on KOD
Wall Street analysts forecast KOD stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for KOD is 27.86 USD with a low forecast of 14.00 USD and a high forecast of 50.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
5 Buy
2 Hold
0 Sell
Moderate Buy
Current: 25.430
Low
14.00
Averages
27.86
High
50.00
Current: 25.430
Low
14.00
Averages
27.86
High
50.00
About KOD
Kodiak Sciences Inc. is a biopharmaceutical company. The Company has developed a new technology platform, the Antibody Biopolymer Conjugate (ABC) Platform, for retinal medicines. Its ABC Platform uses molecular engineering to merge the fields of protein-based and chemistry-based therapies. Its lead investigational medicine, tarcocimab tedromer, is a novel anti-vascular endothelial growth factor (anti-VEGF) antibody biopolymer conjugate under development for the treatment of high prevalence retinal vascular diseases, including diabetic retinopathy and wet age-related macular degeneration. Its second investigational medicine, KSI-501, is a bispecific antibody biopolymer conjugate designed to inhibit interleukin-6 (IL-6)-mediated inflammation and VEGF. It is also developing a third investigational medicine, KSI-101, an unconjugated bispecific protein targeting IL-6 and VEGF.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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Kodiak Sciences to Present at J.P. Morgan Conference on January 12, 2026
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