i Table of Contents Kodiak Sciences Inc. Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2024 Page Special Note Regarding Forward-Looking Statements ii Risk Factor Summary iv PART I. Item 1. Business 1 Item 1A. Risk Factors 22 Item 1B. Unresolved Staff Comments 68 Item 1C. Cybersecurity 68 Item 2. Properties 69 Item 3. Legal Proceedings 69 Item 4. Mine Safety Disclosures 69 PART II. Item 5. Market for Registrant’s Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities 70 Item 6. Reserved 70 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations 71 Item 7A. Quantitative and Qualitative Disclosures About Market Risk 82 Item 8. Financial Statements and Supplementary Data 82 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosures 107 Item 9A. Controls and Procedures 107 Item 9B. Other Information 107 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 107 PART III. Item 10. Directors, Executive Officers and Corporate Governance 108 Item 11. Executive Compensation 108 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters 108 Item 13. Certain Relationships and Related Transactions, and Director Independence 108 Item 14. Principal Accountant Fees and Services 108 PART IV. Item 15. Exhibits and Financial Statement Schedules 109 Item 16. Form 10-K Summary 111 Signatures 112