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Jun 30, 2023
Kiniksa Q2 2023 Earnings Report
Kiniksa reported second quarter financial results and portfolio execution.
Key Takeaways
Kiniksa's Q2 2023 saw ARCALYST net product revenue reach $54.5 million. The company has increased its ARCALYST 2023 net product revenue guidance to $220 - $230 million. Cash reserves are now expected to fund operations into at least 2027.
ARCALYST Q2 2023 net product revenue was $54.5 million.
ARCALYST 2023 net product revenue guidance increased to $220 - $230 million, representing ~84% year-over-year growth at the midpoint.
KPL-404 Phase 2 rheumatoid arthritis data is expected in 1H 2024.
Cash reserves are now expected to fund operations into at least 2027.
Revenue by Segment
Forward Guidance
Kiniksa increased its ARCALYST 2023 net product revenue guidance and expects cash reserves to fund operations into at least 2027.
Positive Outlook
- ARCALYST full-year 2023 net product revenue will be between $220 million and $230 million
- Report data from Phase 2 clinical trial of KPL-404 in rheumatoid arthritis in the first half of 2024
- Cash reserves funding current operating plan into at least 2027
- Using KPL-404 to disrupt the CD40-CD154 interaction is an attractive approach to address multiple autoimmune disease pathologies
- Product candidates offer the potential for differentiation
Challenges Ahead
- Delays or difficulty in enrollment of patients in, and activation or continuation of sites for, clinical trials
- Delays or difficulty in completing clinical trials as originally designed
- Potential for changes between final data and any preliminary, interim, top-line or other data from clinical trials
Historical Earnings Impact
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Avg. Return Before/After Earnings
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