Kiniksa Pharmaceuticals Reports Strong Revenue Growth

By Bobby Samwell • Tuesday, February 25 15:17 • Permanent Link

Kiniksa Pharmaceuticals International, plc (NASDAQ: KNSA) recently released its fourth quarter and full-year 2024 financial results, along with updates on its portfolio execution and corporate developments. The company reported a significant increase in total revenue for both periods, with total revenue for the fourth quarter of 2024 reaching $122.5 million, compared to $83.4 million for the same period in 2023. For the full year 2024, total revenue amounted to $423.2 million, compared to $270.3 million in 2023.

The notable growth was also reflected in the net product revenue generated by Arcalyst® (rilonacept), which amounted to $122.5 million in the fourth quarter of 2024 and $417.0 million for the full year 2024, marking a 79% year-over-year increase. Looking ahead, Kiniksa anticipates Arcalyst net product revenue for 2025 to range between $560 million and $580 million.

The company's operating expenses also saw a significant increase, with total operating expenses for the fourth quarter of 2024 reaching $141.8 million, compared to $83.3 million for the same period in 2023. For the full year 2024, total operating expenses were $468.9 million, compared to $295.5 million in 2023.

Despite the rise in revenue, Kiniksa reported a net loss of $8.9 million for the fourth quarter of 2024, in contrast to a net income of $25.2 million for the same period in 2023. The full year 2024 resulted in a net loss of $43.2 million, compared to a net income of $14.1 million in 2023. However, the company maintains a positive cash position, with $243.6 million in cash, cash equivalents, and short-term investments as of December 31, 2024, compared to $206.4 million in the prior year.

In terms of portfolio execution, Kiniksa highlighted the development of KPL-387, a monoclonal antibody targeting recurrent pericarditis, and KPL-1161, which is also aimed at this condition. The company plans to initiate a phase 2/3 clinical trial of KPL-387 in recurrent pericarditis in mid-2025, with phase 2 data expected in the second half of 2026. Additionally, Kiniksa announced the discontinuation of the development of Abiprubart in Sjögren’s disease and the termination of its exclusive license agreement for Mavrilimumab with MedImmune.

Today the company's shares have moved 0.6% to a price of $19.75. If you want to know more, read the company's complete 8-K report here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.