i Table of Contents Kodiak Sciences Inc. Annual Report on Form 10-K for the Fiscal Year Ended December 31, 2018 Page PART I. Item 1. Business..................................................................................................................................................... 1 Item 1A. Risk Factors............................................................................................................................................... 49 Item 1B. Unresolved Staff Comments...................................................................................................................... 88 Item 2. Properties .................................................................................................................................................. 88 Item 3. Legal Proceedings ..................................................................................................................................... 88 Item 4. Mine Safety Disclosures ........................................................................................................................... 88 PART II. Item 5. Market for Registrant’s Common Equity, Related Stockholders Matters and Issuer Purchases of Equity Securities ....................................................................................................................................... 89 Item 6. Selected Financial Data ............................................................................................................................ 91 Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations ................... 92 Item 7A. Quantitative and Qualitative Disclosures About Market Risk .................................................................. 102 Item 8. Financial Statements and Supplementary Data ........................................................................................ 103 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures ................. 129 Item 9A. Controls and Procedures............................................................................................................................ 129 Item 9B. Other Information ..................................................................................................................................... 129 PART III. Item 10. Directors, Executive Officers and Corporate Governance........................................................................ 130 Item 11. Executive Compensation........................................................................................................................... 130 Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholders Matters....................................................................................................................................................... 130 Item 13. Certain Relationships and Related Transactions, and Director Independence ......................................... 130 Item 14. Principal Accounting Fees and Services ................................................................................................... 130 PART IV. Item 15. Exhibits, Financial Statement Schedules................................................................................................... 131 Item 16. Form 10-K Summary................................................................................................................................. 133 Signatures .................................................................................................................................................. 134