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Kodiak Sciences

Nasdaq:KOD
Snowflake Description

Excellent balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KOD
Nasdaq
$2B
Market Cap
  1. Home
  2. US
  3. Pharmaceuticals & Biotech
Company description

Kodiak Sciences Inc., a clinical stage biopharmaceutical company, provides novel therapeutics to treat retinal diseases. The last earnings update was 12 days ago. More info.


Add to Portfolio Compare Print
  • Kodiak Sciences has significant price volatility in the past 3 months.
KOD Share Price and Events
7 Day Returns
6.2%
NasdaqGM:KOD
5.2%
US Biotechs
10.5%
US Market
1 Year Returns
631.9%
NasdaqGM:KOD
0%
US Biotechs
-11.5%
US Market
KOD Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kodiak Sciences (KOD) 6.2% -17% -34.7% 631.9% - -
US Biotechs 5.2% -6.5% -8.7% 0% 6.2% -10.4%
US Market 10.5% -15.4% -21.4% -11.5% 5.4% 18.1%
1 Year Return vs Industry and Market
  • KOD outperformed the Biotechs industry which returned 0% over the past year.
  • KOD outperformed the Market in United States of America which returned -11.5% over the past year.
Price Volatility
Industry
5yr Volatility vs Market
Related Companies

KOD Value

 Is Kodiak Sciences undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kodiak Sciences to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kodiak Sciences.

NasdaqGM:KOD Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year US Government Bond Rate 1.7%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NasdaqGM:KOD
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 1.7%
Equity Risk Premium S&P Global 5.4%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.203 (1 + (1- 21%) (0.09%))
1.136
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.14
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.74% + (1.136 * 5.44%)
7.92%

Discounted Cash Flow Calculation for NasdaqGM:KOD using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kodiak Sciences is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

NasdaqGM:KOD DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 7.92%)
2020 -167.50 Analyst x4 -155.21
2021 -208.25 Analyst x4 -178.80
2022 -233.50 Analyst x4 -185.76
2023 -73.67 Analyst x3 -54.30
2024 160.33 Analyst x3 109.52
2025 245.26 Est @ 52.97% 155.23
2026 337.47 Est @ 37.6% 197.92
2027 428.05 Est @ 26.84% 232.61
2028 510.71 Est @ 19.31% 257.16
2029 582.42 Est @ 14.04% 271.74
Present value of next 10 years cash flows $650.00
NasdaqGM:KOD DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $582.42 × (1 + 1.74%) ÷ (7.92% – 1.74%)
$9,585.75
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $9,585.75 ÷ (1 + 7.92%)10
$4,472.42
NasdaqGM:KOD Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $650.00 + $4,472.42
$5,122.42
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $5,122.42 / 44.26
$115.74
NasdaqGM:KOD Discount to Share Price
Calculation Result
Value per share (USD) From above. $115.74
Current discount Discount to share price of $47.79
= -1 x ($47.79 - $115.74) / $115.74
58.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Kodiak Sciences is available for.
Intrinsic value
>50%
Share price is $47.79 vs Future cash flow value of $115.74
Current Discount Checks
For Kodiak Sciences to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kodiak Sciences's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kodiak Sciences's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kodiak Sciences's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kodiak Sciences's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NasdaqGM:KOD PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $-1.25
NasdaqGM:KOD Share Price ** NasdaqGM (2020-03-27) in USD $47.79
United States of America Biotechs Industry PE Ratio Median Figure of 37 Publicly-Listed Biotechs Companies 15.4x
United States of America Market PE Ratio Median Figure of 2,939 Publicly-Listed Companies 12.96x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kodiak Sciences.

NasdaqGM:KOD PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGM:KOD Share Price ÷ EPS (both in USD)

= 47.79 ÷ -1.25

-38.19x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kodiak Sciences is loss making, we can't compare its value to the US Biotechs industry average.
  • Kodiak Sciences is loss making, we can't compare the value of its earnings to the United States of America market.
Price based on expected Growth
Does Kodiak Sciences's expected growth come at a high price?
Raw Data
NasdaqGM:KOD PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -38.19x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
11.5%per year
United States of America Biotechs Industry PEG Ratio Median Figure of 34 Publicly-Listed Biotechs Companies 0.96x
United States of America Market PEG Ratio Median Figure of 2,005 Publicly-Listed Companies 1x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Kodiak Sciences, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kodiak Sciences's assets?
Raw Data
NasdaqGM:KOD PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $7.80
NasdaqGM:KOD Share Price * NasdaqGM (2020-03-27) in USD $47.79
United States of America Biotechs Industry PB Ratio Median Figure of 429 Publicly-Listed Biotechs Companies 2.53x
United States of America Market PB Ratio Median Figure of 5,148 Publicly-Listed Companies 1.26x
NasdaqGM:KOD PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGM:KOD Share Price ÷ Book Value per Share (both in USD)

= 47.79 ÷ 7.80

6.12x

* Primary Listing of Kodiak Sciences.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kodiak Sciences is overvalued based on assets compared to the US Biotechs industry average.
X
Value checks
We assess Kodiak Sciences's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Kodiak Sciences has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KOD Future Performance

 How is Kodiak Sciences expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
11.5%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kodiak Sciences expected to grow at an attractive rate?
  • Kodiak Sciences's earnings growth is expected to exceed the low risk savings rate of 1.7%.
Growth vs Market Checks
  • Kodiak Sciences's earnings growth is positive but not above the United States of America market average.
  • Unable to compare Kodiak Sciences's revenue growth to the United States of America market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
NasdaqGM:KOD Future Growth Rates Data Sources
Data Point Source Value (per year)
NasdaqGM:KOD Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 11.5%
United States of America Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 18.6%
United States of America Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 15.7%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 12.3%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 7.3%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NasdaqGM:KOD Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NasdaqGM:KOD Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2024-12-31 839 129 121 2
2023-12-31 238 17 -96 3
2022-12-31 16 -223 -183 4
2021-12-31 0 -213 -209 4
2020-12-31 0 -96 -133 4
2020-03-28
NasdaqGM:KOD Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 -39 -47
2019-09-30 -36 -46
2019-06-30 -33 -44
2019-03-31 -25 -41
2018-12-31 -29 -41
2018-09-30 -26 -38
2018-06-30 -26 -32
2018-03-31 -25 -31
2017-12-31 -18 -28

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kodiak Sciences's earnings are expected to grow by 11.5% yearly, however this is not considered high growth (20% yearly).
  • Unable to determine if Kodiak Sciences is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NasdaqGM:KOD Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Kodiak Sciences Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:KOD Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2024-12-31 2.55 5.10 0.00 2.00
2023-12-31 -2.30 0.31 -4.91 2.00
2022-12-31 -4.30 -2.78 -6.46 4.00
2021-12-31 -4.88 -3.68 -7.88 5.00
2020-12-31 -3.18 -2.28 -4.04 5.00
2020-03-28
NasdaqGM:KOD Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 -1.25
2019-09-30 -1.25
2019-06-30 -1.50
2019-03-31 -1.81
2018-12-31 -2.77
2018-09-30 -4.96
2018-06-30 -4.24
2018-03-31 -4.09
2017-12-31 -3.72

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Kodiak Sciences will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Kodiak Sciences's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kodiak Sciences has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KOD Past Performance

  How has Kodiak Sciences performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kodiak Sciences's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kodiak Sciences does not make a profit and there is insufficient past data to establish if their 5 year on year earnings growth rate was positive.
  • Unable to compare Kodiak Sciences's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kodiak Sciences's 1-year growth to the US Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Kodiak Sciences's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kodiak Sciences Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NasdaqGM:KOD Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 -47.37 11.68 37.51
2019-09-30 -46.41 10.84 31.53
2019-06-30 -44.48 9.89 26.12
2019-03-31 -40.51 8.41 20.87
2018-12-31 -41.44 7.58 18.79
2018-09-30 -38.35 6.06 20.72
2018-06-30 -32.48 5.22 19.16
2018-03-31 -30.96 4.56 20.62
2017-12-31 -27.94 3.50 22.02
2016-12-31 -17.13 3.10 14.05

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Kodiak Sciences has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Kodiak Sciences has efficiently used its assets last year compared to the US Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Kodiak Sciences improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Kodiak Sciences's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kodiak Sciences has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KOD Health

 How is Kodiak Sciences's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kodiak Sciences's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kodiak Sciences is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kodiak Sciences's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kodiak Sciences's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 1.5277561015929E+18x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kodiak Sciences Company Filings, last reported 2 months ago.

NasdaqGM:KOD Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 345.36 0.00 336.48
2019-09-30 59.69 0.00 60.60
2019-06-30 70.02 0.00 68.10
2019-03-31 80.10 0.00 81.08
2018-12-31 86.83 0.00 88.25
2018-09-30 -38.81 41.48 11.59
2018-06-30 -30.21 39.50 17.64
2018-03-31 -16.42 9.92 1.40
2017-12-31 -16.42 9.92 1.40
2016-12-31 8.93 0.00 9.62
  • Kodiak Sciences's level of debt (0%) compared to net worth is satisfactory (less than 40%).
  • Unable to establish if Kodiak Sciences's debt level has increased without past 5-year debt data.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Kodiak Sciences has sufficient cash runway for more than 3 years based on current free cash flow.
  • Kodiak Sciences has sufficient cash runway for 1.8 years if free cash flow continues to grow at historical rates of 27.8% each year.
X
Financial health checks
We assess Kodiak Sciences's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kodiak Sciences has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KOD Dividends

 What is Kodiak Sciences's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Kodiak Sciences dividends.
If you bought $2,000 of Kodiak Sciences shares you are expected to receive $0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Kodiak Sciences's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Kodiak Sciences's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NasdaqGM:KOD Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Global Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 65 Stocks 2.3%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 1949 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 1.1%
United States of America Bottom 25% Dividend Yield 25th Percentile 2%
United States of America Top 25% Dividend Yield 75th Percentile 5.4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NasdaqGM:KOD Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2024-12-31
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2020-03-28

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Kodiak Sciences has not reported any payouts.
  • Unable to verify if Kodiak Sciences's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Kodiak Sciences's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Kodiak Sciences has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Kodiak Sciences's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kodiak Sciences afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kodiak Sciences has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KOD Management

 What is the CEO of Kodiak Sciences's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Victor Perlroth
COMPENSATION $5,896,743
AGE 46
TENURE AS CEO 10.8 years
CEO Bio

Dr. Victor Perlroth, M.D co-founded Kodiak Sciences Inc. in 2009 and serves as its Chairman, President and Chief Executive Officer. Previously, Dr. Perlroth served as Venture Partner and then Entrepreneur in Residence at MPM Capital, a dedicated healthcare venture capital investment firm. In 2003, he co-founded Avidia, a biopharmaceuticals drug discovery and development company where he served as General Manager and Vice President of Corporate Development. In this role, at various times he had broad management responsibility across both corporate and research and development activities. Dr. Perlroth was one of two principals involved in the acquisition of Avidia by Amgen for $450 million. Earlier, Dr. Perlroth worked at Guzik Technical Enterprises, the industry-leading provider of test equipment to the hard disk drive industry, where he was Chief Operating Officer. Dr. Perlroth earned his M.D. and M.B.A. degrees from Stanford University and an A.B. in Molecular Biology summa cum laude from Princeton University.

CEO Compensation
  • Victor's compensation has increased whilst company is loss making.
  • Victor's remuneration is about average for companies of similar size in United States of America.
Management Team Tenure

Average tenure and age of the Kodiak Sciences management team in years:

4.1
Average Tenure
46.5
Average Age
  • The tenure for the Kodiak Sciences management team is about average.
Management Team

Victor Perlroth

TITLE
Co-Founder
COMPENSATION
$6M
AGE
46
TENURE
10.8 yrs

John Borgeson

TITLE
Senior VP
COMPENSATION
$2M
AGE
57
TENURE
5.8 yrs

Jason Ehrlich

TITLE
Chief Medical Officer & Chief Development Officer
COMPENSATION
$4M
AGE
43
TENURE
1.5 yrs

Stephen Charles

TITLE
TENURE
11.2 yrs

Hong Liang

TITLE
Senior Vice President of Discovery Medicine
COMPENSATION
$322K
AGE
47
TENURE
2.4 yrs

Almas Qudrat

TITLE
Senior Vice President of Quality Operations
TENURE
0.2 yrs
Board of Directors Tenure

Average tenure and age of the Kodiak Sciences board of directors in years:

1.8
Average Tenure
50
Average Age
  • The average tenure for the Kodiak Sciences board of directors is less than 3 years, this suggests a new board.
Board of Directors

Victor Perlroth

TITLE
Co-Founder
COMPENSATION
$6M
AGE
46

Felix Baker

TITLE
Independent Director
AGE
50
TENURE
4.5 yrs

Bassil Dahiyat

TITLE
Independent Director
COMPENSATION
$160K
AGE
49
TENURE
1.8 yrs

Bob Profusek

TITLE
Lead Independent Director
COMPENSATION
$162K
AGE
69
TENURE
1.6 yrs

Diana Do

TITLE
Scientific Advisor
TENURE
3.5 yrs

Rich Levy

TITLE
Independent Director
COMPENSATION
$156K
AGE
61
TENURE
1.8 yrs

David Boyer

TITLE
Scientific Advisor

Michael IP

TITLE
Scientific Advisor

Sunil Patel

TITLE
Scientific Advisor

David Brown

TITLE
Scientific Advisor
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Kodiak Sciences individual insiders in the past 3 months, but not in substantial volumes.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price ($) Value ($)
24. Mar 20 Buy Richard Levy Individual 20. Mar 20 20. Mar 20 1,000 $44.65 $44,330
18. Mar 20 Buy Baker Bros. Advisors LP Company 16. Mar 20 18. Mar 20 150,000 $39.97 $5,893,804
26. Feb 20 Buy Baker Bros. Advisors LP Company 24. Feb 20 26. Feb 20 377,249 $60.77 $21,830,242
06. Dec 19 Buy Baker Bros. Advisors LP Company 06. Dec 19 06. Dec 19 1,902,173 $46.00 $87,499,958
X
Management checks
We assess Kodiak Sciences's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kodiak Sciences has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KOD News

Simply Wall St News

What Kind Of Shareholders Own Kodiak Sciences Inc. (NASDAQ:KOD)?

Check out our latest analysis for Kodiak Sciences NasdaqGM:KOD Ownership Summary, August 8th 2019 What Does The Institutional Ownership Tell Us About Kodiak Sciences? … Insider Ownership Of Kodiak Sciences While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. … Private Company Ownership Our data indicates that Private Companies hold 7.3%, of the company's shares.

Simply Wall St -

Can We See Significant Insider Ownership On The Kodiak Sciences Inc. (NASDAQ:KOD) Share Register?

If you want to know who really controls Kodiak Sciences Inc. … Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … Kodiak Sciences is not a large company by global standards.

Simply Wall St -

Who Has Been Buying Kodiak Sciences Inc. (NASDAQ:KOD) Shares?

Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. … So we'll take a look at whether insiders have been buying or selling shares in Kodiak Sciences Inc. … But logic dictates you should pay some attention to whether insiders are buying or selling shares.

Simply Wall St -

KOD Company Info

Description

Kodiak Sciences Inc., a clinical stage biopharmaceutical company, provides novel therapeutics to treat retinal diseases. The company’s lead product candidate is KSI-301, a vascular endothelial growth factor (VEGF)-biological agent that is in Phase I clinical study to treat wet age-related macular degeneration (AMD) and diabetic retinopathy. Its preclinical stage product candidates include KSI-501, a bispecific anti-interleukin 6/VEGF bioconjugate to target inflammation and abnormal angiogenesis in the pathogenesis of retinal vascular diseases; KSI-201, a recombinant mammalian cell expressed dual inhibitor antibody biopolymer bioconjugate for the treatment of wet AMD; and KSI-401, a recombinant mammalian cell expressed antibody biopolymer conjugate for the treatment of dry AMD. The company was formerly known as Oligasis, LLC and changed its name to Kodiak Sciences Inc. in September 2015. Kodiak Sciences Inc. was founded in 2009 and is headquartered in Palo Alto, California.

Details
Name: Kodiak Sciences Inc.
KOD
Exchange: NasdaqGM
Founded: 2009
$2,115,151,038
44,259,281
Website: http://kodiak.com
Address: Kodiak Sciences Inc.
2631 Hanover Street,
Palo Alto,
California, 94304,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGM KOD Common Stock Nasdaq Global Market US USD 04. Oct 2018
Number of employees
Current staff
Staff numbers
39
Kodiak Sciences employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/28 03:39
End of day share price update: 2020/03/27 00:00
Last estimates confirmation: 2020/03/23
Last earnings filing: 2020/03/16
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.