Traders should focus on upcoming catalysts: DAYBREAK (Sep 2026) and PEAK (Q4 2026) Phase 3 data. Cash runway into 2027 provides a buffer. No guidance change; stock likely to trade on pipeline news rather than financials.
Price Chart
Executive Summary
Kodiak Sciences reported Q1 2026 net loss of $58.2M ($0.94/share) vs $57.5M ($1.09/share) in Q1 2025, essentially in line with consensus of $0.93. The pre-revenue biotech highlighted positive GLOW2 data and expects DAYBREAK (Sep 2026) and PEAK (Q4 2026) Phase 3 readouts. Cash of $169.5M is expected to fund operations into 2027.
Key Financial Metrics
Key Facts
- Net loss $58.2M, or $0.94 per share, vs $57.5M ($1.09) in Q1 2025
- Cash and cash equivalents $169.5M, down from $209.9M at Dec 31, 2025
- R&D expenses $48.5M vs $43.6M YoY, driven by increased clinical activities
- Zenkuda BLA submission planned; DAYBREAK topline data expected Sep 2026
- KSI-101 Phase 3 PEAK topline expected Q4 2026, PINNACLE Q2 2027
- No revenue; company is pre-commercial
Financial Impact
Net loss per share $0.94 vs consensus $0.93, essentially in line. Cash burn ~$40M in the quarter.
Risk Factors
- Potential delays or failures in Phase 3 trials (DAYBREAK, PEAK, PINNACLE)
- Cash burn rate may require additional financing before readouts
- BLA submission and approval risks for Zenkuda
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001193125-26-211811 |
| Document: kod-20260507.htm | 0001193125-26-211811 |
| Document: 0001193125-26-211811-index-headers.html | 0001193125-26-211811 |
| Document: 0001193125-26-211811-index.html | 0001193125-26-211811 |
| Document: 0001193125-26-211811.txt | 0001193125-26-211811 |
| 8-K Data (Synthetic) | 0001193125-26-211811 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 13, 2026 7w ago | 8-K | $41.35 $33.14 | ▼ −19.85% | ▼ −17.86% | $94.45 (+128.42%) |
Aug 13, 2026 7w ago | Press Release | $41.35 $33.14 | ▼ −19.85% | ▼ −17.86% | $94.45 (+128.42%) |
Jun 11, 2026 16w ago | Institutional Cluster | $33.97 $40.08 | ▲ +17.99% | ▲ +16.10% | $94.45 (+178.04%) |
May 7, 2026 21w ago | 8-K | $41.01 $31.05 | ▼ −24.29% | ▼ −24.31% | $94.45 (+130.31%) |
Mar 31, 2026 26w ago | 8-K | $42.81 $43.67 | ▲ +2.01% | ▼ −7.71% | $94.45 (+120.63%) |
US Market Status
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