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Mar 31, 2024
Kiniksa Q1 2024 Earnings Report
Reported first quarter financial results and portfolio execution.
Key Takeaways
Kiniksa Pharmaceuticals reported strong first quarter 2024 results, driven by an 85% year-over-year increase in ARCALYST net product revenue, reaching $78.9 million. The company has raised its full-year ARCALYST net product revenue guidance to $370 - $390 million and plans to initiate a Phase 2b trial of abiprubart in Sjögren’s Disease in the second half of 2024. Kiniksa expects to remain cash flow positive on an annual basis.
ARCALYST Q1 2024 net product revenue reached $78.9 million, representing 85% year-over-year growth.
Increased ARCALYST 2024 expected net product revenue to $370 - $390 million.
Planned to initiate Abiprubart Phase 2b trial in Sjögren’s Disease in 2H 2024.
Current operating plan expected to remain cash flow positive on an annual basis.
Revenue by Segment
Forward Guidance
Kiniksa expects ARCALYST net product revenue to be between $370 million and $390 million. The company plans to initiate a Phase 2b clinical trial of abiprubart in Sjögren’s Disease in the second half of 2024 and expects to remain cash flow positive on an annual basis.
Positive Outlook
- ARCALYST 2024 net product revenue will be between $370 million and $390 million.
- Phase 2b clinical trial of abiprubart in Sjögren’s Disease planned to initiate in 2H 2024.
- Expectation to remain cash flow positive on an annual basis within current operating plan.
- Belief that using abiprubart to disrupt the CD40-CD154 co-stimulatory interaction is an attractive approach to address multiple autoimmune disease pathologies.
- Belief that all product candidates offer the potential for differentiation.
Challenges Ahead
- Risks arising from the planned redomiciliation of principal holding company from Bermuda to the United Kingdom.
- Delays or difficulty in enrollment of patients in, and activation or continuation of sites for, clinical trials.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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