Thu, Jul 25, 8:16 PM (44 days ago)
Kiniksa Pharmaceuticals International, plc's quarterly report for the period ended June 30, 2024, highlights key financial metrics and operational updates. The company reported net revenue from ARCALYST sales of $103.4 million, a significant increase from $54.5 million in the same period last year, driven by a rise in patient numbers. License and collaboration revenue was $5.2 million, primarily from a $5 million milestone payment under the Genentech License Agreement. Cost of goods sold increased to $12.3 million, reflecting higher sales and technology transfer expenses. Collaboration expenses rose to $30 million due to profit-sharing with Regeneron. Research and development expenses were stable at $24 million, with notable spending on abiprubart's clinical trials. Selling, general, and administrative expenses increased to $42.4 million due to expanded salesforce and professional fees. The company reported a net loss of $3.9 million, compared to a net income of $15 million in Q2 2023, primarily due to a $6.2 million income tax provision. Cash, cash equivalents, and short-term investments totaled $218.8 million, expected to fund operations for at least the next 12 months.