---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-071474"
form_type: "8-K"
ticker: "KOD"
cik: "0001468748"
company_name: "Kodiak Sciences Inc."
filed_at: "2025-05-14T23:59:59+00:00"
generated_at: "2026-05-21T08:22:43.100236+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Kodiak Sciences Q1 net loss $57.5M ($1.09/shr), cash $138.9M; pipeline on track for 2026 data

## Summary
- Net loss $57.5M ($1.09/shr) vs $43.0M ($0.82) in Q1 2024; non-cash stock comp $15.9M.
- Cash and cash equivalents $138.9M; company believes current cash funds operations into 2026.
- R&D expenses $43.6M, up from $29.9M YoY, driven by increased clinical and manufacturing activities.
- Phase 3 GLOW2 (DR), DAYBREAK (wet AMD) for tarcocimab and KSI-501; Phase 1b APEX data for KSI-101 expected.
- Investor R&D Update scheduled for July 16, 2025; topline data targeted in 2026.

## SEC filing metadata
- accession: 0000950170-25-071474
- form_type: 8-K
- ticker: KOD
- cik: 0001468748
- company_name: Kodiak Sciences Inc.
- filed_at: 2025-05-14T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468748/000095017025071474/0000950170-25-071474-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468748/000095017025071474/kod-20250514.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-071474
- JSON: https://secwatch.observer/filing/0000950170-25-071474.json
- Plain text: https://secwatch.observer/filing/0000950170-25-071474.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.