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  • Corporate Updates: Kiniksa Pharmaceuticals Ltd. (KNSA) stock Gains Further Pre-Market

    Corporate Updates: Kiniksa Pharmaceuticals Ltd. (KNSA) stock Gains Further Pre-Market

    On January 10, Kiniksa Pharmaceuticals Ltd. (KNSA) posted its corporate updates of the company that were presented at a conference on the day. Consequently, the stock was trading at $12.00 apiece in the pre-market on Monday.

    During regular trading, KNSA stock added 1.37% at its closing price of $11.11 with 279.91K shares exchanging. Following the news, the stock gained a further 8.01% in the pre-market session.

    Kiniksa Pharmaceuticals Ltd. has a market capitalization of $755.02 million with its 33.89 million shares outstanding. In the past five days, the stock has decreased by 5.04% and 41.12% last year.

    KNSA’s Updates

    As per Monday’s announcement, the company presented its corporate and portfolio updates at the 40th Annual J.P. Morgan Healthcare Conference.

    In 2021, KNSA successfully launched ARCALYST for treating recurrent pericarditis, and hence became a commercial-stage company. Currently, the company is focused on further enhancing the ARCALYST franchise and proceeding with the clinical trial of vixarelimab in prurigo nodularis and KPL-404 in rheumatoid arthritis.

    Moreover, the company expects that its cash, cash equivalents, and short-term investments of $182 million (unaudited at the end of 2021) will fund its operations into 2024.

    Portfolio Update

    According to the portfolio updates of the company:

    • KNSA will provide net revenue guidance of ARCALYST for the full year 2022, along with its financial results for Q4 and 2021.
    • Data from the Phase 2b clinical trial of vixarelimab in prurigo nodularis is expected in the second half of 2022.
    • Patients are being enrolled and dosed in Phase 2 clinical trial of KPL-404 in rheumatoid arthritis.
    • Phase 3 portion of the Phase 2/3 trial of mavrilimumab in ARDS associated with Covid-19 failed to reach its primary efficacy endpoint. Currently, the company is assessing its next steps. Previously, mavrilimumab was granted Orphan Drug Designation for treating giant cell arthritis by FDA in 2020.

    Third Quarter 2021 Financials

    On November 01, the company announced its financial results for the third quarter of 2021, which ended on September 30.

    In the third quarter of 2021, KNSA’s total net revenue for ARCALYST product sales was $12.1 million.

    Furthermore, the company incurred a net loss of $30.5 million in the third quarter of 2021, against $43.8 million in Q3 of 2020.

    Added to this, the expected ARCALYST net revenue for Q4 of 2021 is in the range of $16 million and $17 million.

  • Is that why Kiniksa Pharmaceuticals Ltd. (KNSA) ‎stock rocked in the late hours yesterday?

    Is that why Kiniksa Pharmaceuticals Ltd. (KNSA) ‎stock rocked in the late hours yesterday?

    Kiniksa Pharmaceuticals Ltd. (KNSA) stock surged in the after-market session on Thursday, March 19, 2021. It gained 10.50% in the extended trading session after losing 3.29% in the morning session.

    ARCALYST approved by FDA

    On March 18, 2021, KNSA announced ARCALYST ® (rilonacept) by the FDA. ARCALYST is a weekly subcutaneously-injected, recombinant fusion protein that blocks interleukin-1 alpha (IL-1α) and interleukin-1 beta (IL-1β), signaling the treatment of recurrent pericarditis and reduction in risk of recurrence in adults and children 12 years and older. KSNA will launch the product commercially in April 2021.

    Chief Executive Officer and Chairman of the Board of KiniksaSanj K. Patel said that the ARCALYST is the first and only FDA-approved therapy in recurrent pericarditis. It also represents a transformational event for Kiniksa.

    Launching Patient Registry (RESONANCE) for Recurrent Pericarditis

    On March 02, 2021, Kiniksa Pharmaceuticals, Ltd. officially launched the RESONANCE registry in pediatric and adult patients with recurrent pericarditis. Recurrent pericarditis is a painful and devastating autoinflammatory cardiovascular disease.

    The RESONANCE registry will be used by physician-researchers with experience in managing patients with recurrent pericarditis.

    Recent Financial Results

    Kiniksa Pharmaceuticals reported fourth-quarter and full-year 2020 financial results on March 2, 2021.

    Q4 2020 highlights

    • KNSA suffered a net loss of $53.7 million for the fourth quarter of 2020 compared to a net loss of $31.8 million for the fourth quarter of 2019.
    • It spent $52.9 million in total operating expenses for the reported quarter compared to $32.6 million for the fourth quarter of 2019.
    • KNSA spent $6.3 million in Non-cash, share-based compensation expense in 4Q 2020, compared to $5.0 million for the fourth quarter of 2019.

    Full-year 2020 highlights

    • Net loss for the full-year 2020 was $161.4 million, compared to a net loss of $161.9 million for the full-year 2019.
    • Non-cash, share-based compensation expense for the full-year 2020 was $20.9 million, compared to $15.1 million for the full-year 2019.
    • KNSA spent $157.4 millionin total operating expenses for the full-year 2020, compared to $170.0 million for the full-year 2019.
    • The company had cash, cash equivalents, and short-term investments of $323.5 millionand no debt as of December 31, 2020.

    Conclusion: the latest approval of KNSA’s ARCALYST can attract investors as it is the only FDA-approved therapy in recurrent pericarditis.