81 Kodiak Sciences Inc. Consolidated Statements of Operations and Comprehensive Loss (in thousands, except share and per share amounts) Year Ended December 31, 2025 2024 2023 Operating expenses ....................................................................... Research and development $ 182,373 $ 126,095 $ 206,298 ....................................................................... General and administrative 52,015 60,754 71,023 ...................................................................... Total operating expenses 234,388 186,849 277,321 ................................................................................... Loss from operations (234,388) (186,849) (277,321) ....................................................................................... Interest income 4,517 11,148 16,733 ...................................................................................... Interest expense — — (13) ..................................................................... Other income (expense), net (96) (506) 110 ...................................................................................................... Net loss $ (229,967) $ (176,207) $ (260,491) .............................................................. Net loss per share, basic and diluted $ (4.32) $ (3.35) $ (4.97) ................................. Weighted-average shares outstanding, basic and diluted 53,208,311 52,583,148 52,414,256 Other comprehensive income, net of tax ...................................................................................... Change in unrealized gains on available-for-sale debt securities — — 1,307 ....................................................... Total other comprehensive income — — 1,307 .................................................................................... Comprehensive loss $ (229,967) $ (176,207) $ (259,184) See notes to consolidated financial statements.