Kodiak Sciences Inc.
For the period ended Dec 31, 2025. Filed Mar 31, 2026.
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FY2025 · Filed Mar 31, 2026
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Fair Value Measurements
- Fair Value Measurements
The following tables present the Company’s fair value hierarchy for assets measured at fair value on a recurring basis (in thousands):
| Level 1 | Level 2 | Level 3 | Total | |
|---|---|---|---|---|
| Cash equivalents: | ||||
| Money market funds | $207,585 | $— | $— | $207,585 |
| Total cash equivalents | 207,585 | — | — | 207,585 |
| Cash | 2,277 | — | — | 2,277 |
| Total cash and cash equivalents | $209,862 | $— | $— | $209,862 |
| Level 1 | Level 2 | Level 3 | Total | |
| Cash equivalents: | ||||
| Money market funds | $166,464 | $— | $— | $166,464 |
| Total cash equivalents | 166,464 | — | — | 166,464 |
| Cash | 1,610 | — | — | 1,610 |
| Total cash and cash equivalents | $168,074 | $— | $— | $168,074 |
As of December 31, 2025 and 2024, the fair value of the liability related to sale of future royalties is based on the Company's current estimates of future royalties expected to be paid to Baker Bros. Advisors, LP (“BBA”), which are considered Level 3 inputs. See Note 15.
As discussed in Note 8, the Company entered into a sublease agreement during the first quarter of 2025, which led to an impairment of the related right-of-use asset. Estimated fair value of the right-of-use asset was based on expected sublease rental income, considering current sublease market conditions, discounted at a market rate of return on similar assets. The estimates and assumptions used are considered Level 3 inputs.
There wereno transfers of assets or liabilities between the fair value measurement levels during the years ended December 31, 2025 and 2024.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.