Is KOD halal?
Kodiak Sciences Inc
Doubtful
No clear verdict is possible for Kodiak Sciences Inc — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NASDAQ
Price
85.75
Day
-2.69%
Market cap
$5.33B
Industry
Biotechnology
Sector
Healthcare
What the company does
Kodiak Sciences is developing long-acting injectable drugs (tarcocimab, KSI-501) for eye diseases (wet macular degeneration, diabetic retinopathy) in Phase 3. No revenue.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $0 ÷ 36-month average market cap $816.09M = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $125.90M ÷ 36-month average market cap $816.09M = 15.4%
15.4%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $5.33B.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $38.96
- Polen Capital Management$1.4M0.0%
Halal stocks in the same industry
The largest halal stocks in Biotechnology — for comparison.
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- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.