Baker Bros. Advisors LP and affiliated reporting persons filed a Form 4 with the SEC on November 6, 2026, disclosing purchases of Kodiak Sciences Inc. common stock on November 4 and November 5, 2026.

Key Highlights

  • Four purchase transactions were reported across two trading days, November 4 and November 5, 2026, all at a price of $98.51 per share.
  • 667, L.P. acquired 8,742 shares on November 4 and 4,703 shares on November 5, bringing its beneficial ownership to 1,683,172 shares.
  • Baker Brothers Life Sciences, L.P. acquired 151,916 shares on November 4 and 81,729 shares on November 5, bringing its beneficial ownership to 20,424,859 shares.
  • Total shares purchased across both funds in the two-day period amounted to 247,090 shares of Kodiak Sciences common stock.
  • All reporting persons include Baker Bros. Advisors LP, 667 L.P., Baker Bros. Advisors (GP) LLC, Baker Brothers Life Sciences LP, Felix Baker, and Julian Baker, each identified as a director and 10% owner.
  • Felix J. Baker is identified as a director of Kodiak Sciences Inc.; the other reporting persons are described as "deemed directors by deputization" under Section 16 of the Securities Exchange Act of 1934.

Baker Bros. Entities Report Two-Day Accumulation of Kodiak Sciences Common Stock

According to the filing, Baker Bros. Advisors LP and five affiliated reporting persons disclosed purchases of Kodiak Sciences Inc. (NASDAQ:KOD) common stock on November 4 and November 5, 2026. All transactions carried a price of $98.51 per share and were coded as open-market purchases ("P") in the filing. The transactions were split between two funds: 667, L.P. and Baker Brothers Life Sciences, L.P., both of which are advised by Baker Bros. Advisors LP.

The filing states that Baker Bros. Advisors LP "has complete and unlimited discretion and authority with respect to the investment and voting power of the securities held directly by the Funds," as the general partners of the Funds relinquished such authority to the Adviser. Following the reported transactions, 667, L.P. held 1,683,172 shares and Baker Brothers Life Sciences, L.P. held 20,424,859 shares, according to the filing. All ownership is reported as indirect.

The filing notes that "Julian C. Baker, Felix J. Baker, the Adviser GP and the Adviser disclaim beneficial ownership of the securities held directly by the Funds except to the extent of their pecuniary interest therein." Felix J. Baker is identified as a managing member of Baker Bros. Advisors (GP) LLC and a director of Kodiak Sciences Inc. Julian C. Baker and the other reporting persons are described as deemed directors of the issuer by virtue of their board representation, for purposes of Section 16 of the Securities Exchange Act of 1934.

What Was Disclosed

The Form 4 filing disclosed four open-market purchases of Kodiak Sciences common stock by entities affiliated with Baker Bros. Advisors LP on November 4 and November 5, 2026, totaling 247,090 shares at $98.51 per share, with resulting indirect beneficial ownership positions reported for two funds.