Kodiak Sciences Inc.
For the period ended Jun 30, 2026. Filed Aug 13, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Aug 13, 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 | $118,212 | $— | $— | $118,212 |
| Total cash equivalents | 118,212 | — | — | 118,212 |
| Cash | 7,691 | — | — | 7,691 |
| Total cash and cash equivalents | $125,903 | $— | $— | $125,903 |
| 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 |
As of June 30, 2026, 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.
As discussed in Note 5, 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.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.