Kiniksa Pharmaceuticals Ltd. Class A ( (KNSA) ) has realeased its Q3 earnings. Here is a breakdown of the information Kiniksa Pharmaceuticals Ltd. Class A presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Kiniksa Pharmaceuticals International, plc, a commercial-stage biopharmaceutical company, focuses on developing immune-modulating therapies for cardiovascular and autoimmune diseases. In its third quarter of 2024 financial results, Kiniksa highlighted a significant 73% year-over-year growth in ARCALYST net product revenue, reaching $112.2 million. The company also launched a disease awareness campaign for recurrent pericarditis, partnering with notable figures Henrik Lundqvist and Carly Pearce.
The quarter saw Kiniksa’s total revenue rise to $112.2 million from $67.0 million in the previous year, with ARCALYST being a major contributor. Despite the rise in total operating expenses to $121.9 million, the company managed to lower its net loss to $12.7 million from $13.9 million in the same quarter last year. Kiniksa is actively enrolling patients in a Phase 2b clinical trial for its product candidate, abiprubart, aimed at treating Sjögren’s Disease.
Kiniksa’s financial outlook remains positive with an expected 2024 ARCALYST revenue of $410 million to $420 million. The company maintains a strong cash position with $223.8 million in cash, cash equivalents, and short-term investments, and aims to remain cash flow positive annually while continuing to invest in product commercialization and pipeline development.
