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Dec 31, 2024
Kiniksa Q4 2024 Earnings Report
Kiniksa reported strong Q4 2024 financial results driven by ARCALYST sales, announced the development program for KPL-387, and planned to discontinue abiprubart development in Sjögren’s Disease.
Key Takeaways
Kiniksa Pharmaceuticals reported strong commercial execution in 2024, resulting in 79% year-over-year ARCALYST sales growth to $417.0 million. The company is planning to initiate a Phase 2/3 clinical trial of KPL-387 in recurrent pericarditis in mid-2025 and discontinue the development of abiprubart in Sjögren’s Disease.
ARCALYST Q4 2024 and full year 2024 net product revenue of $122.5 million and $417.0 million, respectively
ARCALYST 2025 net product revenue expected to be $560 - $580 million
KPL-387 Phase 2/3 clinical trial in recurrent pericarditis expected to initiate in mid-2025; Phase 2 data expected in 2H 2026
Abiprubart development in Sjögren’s Disease to be discontinued
Forward Guidance
Kiniksa expects ARCALYST 2025 net product revenue to be between $560 - $580 million and the current operating plan is expected to remain cash flow positive on an annual basis.
Positive Outlook
- ARCALYST 2025 net product revenue expected to be $560 - $580 million
- KPL-387 Phase 2/3 clinical trial in recurrent pericarditis expected to initiate in mid-2025
- Phase 2 data expected in 2H 2026 for KPL-387
- Focus on cardiovascular indications
- Current operating plan expected to remain cash flow positive on an annual basis
Challenges Ahead
- Abiprubart development in Sjögren’s Disease to be discontinued
- Potential for changes between final data and any preliminary, interim, top-line or other data from clinical trials
- Potential undesirable side effects caused by products and product candidates
- Reliance on third parties as the sole source of supply of the drug substance and drug product
Historical Earnings Impact
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