Knight Therapeutics ( (KHTRF) ) has released its Q3 earnings. Here is a breakdown of the information Knight Therapeutics presented to its investors.
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Knight Therapeutics Inc., headquartered in Montreal, Canada, operates as a specialty pharmaceutical company focused on acquiring or in-licensing and commercializing pharmaceutical products for the Canadian and Latin American markets.
In its third quarter of 2024, Knight Therapeutics reported a 13% increase in revenues amounting to $92,263, driven by the growth of key promoted products. However, the quarter saw a decrease in adjusted EBITDA by 13% to $13,454 and a net income of $85 compared to $9,588 in the same period last year.
Key financial highlights include a consistent gross margin of 49%, with revenues at constant currency increasing by 18%. The company also recorded an unrealized gain of $14,412 from shares of Synergy, driven by its IPO, and obtained regulatory approval for Minjuvi in Mexico. However, increased marketing expenses for new launches impacted adjusted EBITDA negatively.
Knight Therapeutics continues to focus on commercial execution and pipeline advancement, expecting to launch Minjuvi in Mexico by the first half of 2025. The company’s financial outlook reaffirms revenue guidance of $355 million to $365 million for 2024, with adjusted EBITDA expected to be approximately 16% of revenues.
