Kodiak Sciences Inc (KOD US, +1, 1-Oct-26)

Felix Baker (Non-Executive since Sep 2015) bought $157 million worth of stock on September 29th at $80.85, increasing his stake by 10%. The purchases are indirect, through Baker Bros Advisors, where he is the Managing Member and they now own 35% of the company. 

The purchases follow very strong share price performance after the September 28 announcement of positive Phase 3 clinical results for its eye drug candidates, with shares more than tripling. Whilst his record in the stock has been poor, this purchase is notable as it’s his largest to date and because he’s paying up from his last trade – a subscription for $60m at $23 in December 2025. 

Baker joined the board in 2015, three years before the IPO (Oct. 2018 at $10). Note that the shares are currently trading at $95. 

We are ranking the stock +1 (strongly positive).

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