Kiniksa Pharmaceuticals, Ltd. (KNSA) is a leading clinical-stage biotherapeutic company associated with the discovery, acquisition, development, and commercialization of treatments for patients suffering from debilitating diseases. Some of the lead product candidates of the company include Rilonacept which is in Phase 3 trials for treating recurrent pericarditis, mavrilimumab in Phase 2 for treating giant cell arteritis, vixarelimab in Phase 2 trials for treating prurigo nodularis. Pre-clinical product line of the company includes KPL-404.
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The price of KNSA stock during the regular trading on January 10, 2022, with a slight incline of 1.37% was $11.11. At last check in the aftermarket, the stock further rocketed by 8.01%
KNSA: Events and Happenings
On January 10, 2022, KNSA reported its corporate update and proclaimed anticipated milestones for 2022. The company expected ARCALYST full-year 2022 guidance along with Q4 2021 financial outcomes. Also, the Vixarelimab Phase 2 outcomes are expected in 2H 2022. Company’s preclinical product KPL-404 in its Phase 2 clinical trial for rheumatoid arthritis had started enrolling and dosing patients. The company also expected Year-end 2021 cash reserves for funding the operating plans of 2024.
KNSA: CEO Comments
Speaking at the occasion, Sanj K. Patel, CEO of KNSA reported 2021 to be a transformational year for the company. He said that the company is satisfied with the strong physician and patient adoption. He further added that the company is looking forward to commercial excellence with ARCALYST.
On January 03, 2022, KNSA reported that the company’s Executives will present at the 40th Annual J.P. Morgan Healthcare Conference being held on January 10, 2022. On December 28, 2021, KNSA reported that mavrilimumab did not meet the primary efficacy endpoint in COVID-19 associated acute respiratory syndrome patients. On November 23, 2021, KNSA reported that the company’s Executives presented at the 4th Annual Evercore ISI HealthCONx Conference held on November 30, 2021.
KNSA: Key Financials
On November 01, 2021, KNSA announced the third quarter 2021 financial results ended September 30, 2021. Some of the key updates are as follows
Revenue
Total net revenue of the company for ARCALYST sales during Q3 2021 was $12.1 million.
Net Loss per Share
Basic and diluted net loss for the third quarter of 2021 was $30.5 million or $0.44 per share as compared to $43.8 million or $0.66 per share for the same quarter of 2020.
On September 21, 2021, KNSA reported that the company’s Executives presented at the Virtual Cantor Fitzgerald Global Healthcare Conference 2021 held on September 28, 2021.
Conclusion
KNSA stock is down 22% in the past six months primarily due to the prevailing pandemic situation globally. The current aftermarket surge is possibly caused by the company’s recently announced corporate updates and outlining of milestones of 2022. The experts are hoping for some out-of-the-box strategies and plans from the company with regards to its current collaborations and future pipeline projects.
