In This Article:
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Revenue: $112.2 million net product revenue for Q3 2024, a 73% year-over-year growth.
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Arcalyst Net Sales Guidance: Increased to $410 million to $420 million for full year 2024.
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Arcalyst Collaboration Operating Profit: $58.2 million, a 68% year-over-year growth.
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Total Collaboration Expenses: $29.3 million.
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Net Loss: $12.7 million for Q3 2024, compared to $13.9 million in Q3 2023.
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Net Cash Flow: $5 million for Q3 2024.
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Cash Balance: $223.8 million at the end of Q3 2024.
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Total Prescribers: Increased from approximately 2,300 in Q2 to approximately 2,550 in Q3.
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Repeat Prescriber Rate: Approximately 25% of prescribers since launch writing multiple prescriptions.
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Patient Compliance: Above 85%.
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Payer Approval Rate: Greater than 90% for completed cases.
Release Date: October 29, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Kiniksa Pharmaceuticals International PLC (NASDAQ:KNSA) reported a 73% year-over-year growth in Arcalyst net product revenue, reaching $112.2 million for the third quarter.
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The company increased its full-year Arcalyst net sales guidance to between $410 million to $420 million, up from the previous range of $405 million to $415 million.
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Kiniksa Pharmaceuticals International PLC (NASDAQ:KNSA) has a robust financial position with a positive annual cash flow, supporting growth investments across its business.
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The company has seen an increase in total prescribers from approximately 2,300 in Q2 to approximately 2,550 in Q3, indicating strong market penetration.
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Patient compliance remains high at above 85%, with greater than 90% payer approval of completed cases, reflecting strong satisfaction with Arcalyst.
Negative Points
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Despite the growth, Kiniksa Pharmaceuticals International PLC (NASDAQ:KNSA) reported a net loss of $12.7 million for the third quarter of 2024.
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The company faces challenges in penetrating the market for first recurrence patients, with only 15% of prescriptions coming from this group.
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There is a significant delay in diagnosis for recurrent pericarditis, with patients reporting an average of 2.7 misdiagnoses before receiving the correct diagnosis.
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Operating expenses have increased due to costs associated with Arcalyst revenue growth, collaboration expenses, and R&D and SG&A driven largely by personnel costs.
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The company has not provided specific guidance on enrollment timelines for the Abiprubart phase two B study in Sjogren's disease, indicating potential uncertainties in clinical development.