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Kiniksa Pharmaceuticals (KNSA)
NASDAQ:KNSA
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Kiniksa Pharmaceuticals
(NASDAQ:KNSA)62Neutral
Positive Factors
Commercial Progress
Arcalyst commercial progress continues to impress with guidance in-line.
Pipeline Development
KPL-387's monthly dosing could provide upside as it demonstrated a dose-dependent response and the company confirmed its stability.
Negative Factors
Stock Performance
Shares are down, likely driven by fears that Arcalyst growth might be slowing down based on the quarter-on-quarter numbers.
Kiniksa Pharmaceuticals (KNSA) vs. S&P 500 (SPY)
Market Cap
$1.52B
Dividend YieldN/A
Average Volume (3M)673.48K
Price to Earnings (P/E)―
Beta (1Y)0.66
Revenue Growth56.60%
EPS Growth-403.56%
CountryUS
Employees297
SectorHealthcare
Sector Strength77
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.60
Shares Outstanding42,009,500
10 Day Avg. Volume926,475
30 Day Avg. Volume673,477
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)3.69
Price to Cash Flow (P/CF)20.80
P/FCF Ratio21.00
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$34.25Price Target Upside64.19% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering4
Kiniksa Pharmaceuticals Business Overview & Revenue Model
Company DescriptionKiniksa Pharmaceuticals (KNSA) is a biopharmaceutical company engaged in the discovery, development, and commercialization of novel therapeutic medicines. The company focuses on addressing unmet medical needs in areas such as immunology and inflammation. Kiniksa's core products include a pipeline of proprietary drug candidates designed to treat a range of diseases with significant unmet medical needs, leveraging their expertise in immunology to develop innovative solutions.
How the Company Makes MoneyKiniksa Pharmaceuticals generates revenue primarily through the commercialization of its proprietary drug candidates. Revenue streams include sales of approved therapeutic products and potential milestone payments or royalties from strategic collaborations and partnerships with other pharmaceutical companies. The company may also engage in licensing agreements, where it licenses its drug candidates to other firms for further development and commercialization, which can provide upfront payments, milestone payments, and royalty income based on product sales. Additionally, Kiniksa may receive funding through research grants and other financial arrangements to support its drug development programs.
Kiniksa Pharmaceuticals Financial Statement Overview
Summary
Kiniksa Pharmaceuticals is showing strong revenue growth, but profitability remains a concern with negative operating margins. The balance sheet is improving with positive equity, yet past financial instability and liabilities are notable. Cash flow is improving, indicating better cash generation, but there are challenges in achieving consistent profitability.Income Statement
Kiniksa Pharmaceuticals has shown a strong revenue growth rate, with a substantial increase from 2023 to 2024. However, profitability margins such as EBIT and EBITDA remain negative, indicating operational challenges. The net profit margin is also negative, signaling a need for better cost management and operational efficiency.65
Positive
Balance Sheet
The company's balance sheet reflects a stable equity base with positive stockholders' equity in 2024, although it has faced fluctuations in previous years. The debt-to-equity ratio is low, suggesting manageable leverage levels. However, historical negative equity and significant liabilities indicate past financial struggles.55
Neutral
Cash Flow
Kiniksa has shown improvement in cash flow, with a positive free cash flow in 2024, supported by positive operating cash flow. This demonstrates a better ability to generate cash from operations compared to previous years. However, the free cash flow to net income ratio indicates a potential discrepancy between cash generation and profitability.70
Positive
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 423.24M | 270.26M | 220.18M | 38.54M | 0.00 | Gross Profit |
| 423.24M | 213.74M | 173.21M | 29.44M | -3.81M | EBIT |
| -45.62M | -25.20M | 7.37M | -156.64M | -157.36M | EBITDA |
| -45.62M | -22.86M | 9.77M | -154.28M | -152.42M | Net Income Common Stockholders |
| -43.19M | 14.08M | 183.36M | -157.92M | -161.38M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 243.63M | 206.37M | 190.61M | 182.20M | 323.48M | Total Assets |
| 580.55M | 526.32M | 459.67M | 232.80M | 349.46M | Total Debt |
| 9.86M | 12.26M | 5.92M | 6.05M | 6.99M | Net Debt |
| -173.73M | -95.70M | -116.80M | -116.42M | -107.05M | Total Liabilities |
| 142.12M | 87.48M | 63.52M | 47.76M | 37.53M | Stockholders Equity |
| 438.44M | 438.84M | -492.03M | -675.40M | -517.47M |
| Cash Flow | Free Cash Flow | |||
| 25.41M | 13.17M | 5.70M | -146.71M | -136.81M | Operating Cash Flow |
| 25.69M | 13.30M | 5.81M | -126.30M | -136.53M | Investing Cash Flow |
| 37.67M | -29.56M | -8.08M | 128.63M | -23.44M | Financing Cash Flow |
| 12.27M | 1.50M | 2.52M | 5.88M | 227.09M |
Kiniksa Pharmaceuticals Technical Analysis
Positive
20.86
Price Trends
19.83
Positive
21.29
Negative
22.11
Negative
Market Momentum
0.40
Negative
56.20
Neutral
65.09
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For KNSA, the sentiment is Positive. The current price of 20.86 is above the 20-day moving average (MA) of 20.19, above the 50-day MA of 19.83, and below the 200-day MA of 22.11, indicating a neutral trend. The MACD of 0.40 indicates Negative momentum. The RSI at 56.20 is Neutral, neither overbought nor oversold. The STOCH value of 65.09 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for KNSA.
Kiniksa Pharmaceuticals Risk Analysis
Kiniksa Pharmaceuticals disclosed 73 risk factors in its most recent earnings report. Kiniksa Pharmaceuticals reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Kiniksa Pharmaceuticals Peers Comparison
Overall Rating
UnderperformOutperform
Sector (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | $348.86M | 20.10 | 531.78% | ― | 53.38% | ― | |
62 Neutral | $1.52B | ― | -9.85% | ― | 56.60% | -403.56% | |
59 Neutral | $3.93B | ― | -31.41% | ― | 49.59% | 24.92% | |
51 Neutral | $501.10M | ― | -182.71% | ― | 432.03% | 14.41% | |
49 Neutral | $7.00B | >-0.01 | -53.72% | 2.41% | 24.70% | -2.97% | |
42 Neutral | $257.10M | ― | -31.41% | ― | 389.82% | -22.66% |
* Healthcare Sector Average
Performance Comparison
KNSA
Kiniksa Pharmaceuticals
21.55
1.11
5.43%
RIGL
Rigel
19.53
4.63
31.07%
XOMA
Xoma
20.50
-5.15
-20.08%
ANAB
AnaptysBio
17.54
-8.52
-32.69%
ZLAB
Zai Lab
35.35
15.81
80.91%
Kiniksa Pharmaceuticals Earnings Call Summary
Earnings Call Date: Feb 25, 2025 | % Change Since: 6.27% | Next Earnings Date: May 6, 2025
Earnings Call Sentiment Positive
The earnings call highlighted significant revenue growth and development progress, particularly with ARCALYST and the new KPL-387 program. However, the call also noted some challenges, including a net loss for the year and the discontinuation of abiprubart development. Despite these challenges, the company's strong financial position and future growth prospects offer a positive outlook.Highlights
Strong ARCALYST Revenue Growth
ARCALYST product revenue grew 72% to $122.5 million in the fourth quarter and 79% to $417 million for the full year 2024.
Launch of KPL-387 Development Program
KPL-387 is an independently developed monoclonal antibody IL-1 receptor antagonist with potential for monthly Sub-Q dosing in recurrent pericarditis. Phase 2/3 trial expected to start mid-2025.
Positive Financial Position
Ended 2024 with a $244 million cash balance and expect to remain cash flow positive on an annual basis.
Collaboration Profit Growth
ARCALYST collaboration profit grew 125% to $76.3 million in the fourth quarter and 108% to $234.7 million for the full year 2024.
2025 ARCALYST Revenue Guidance
Forecasted net revenue for ARCALYST is between $560 million and $580 million for 2025.
Lowlights
Discontinuation of Abiprubart Development
Development of abiprubart in Sjogren's disease has been discontinued. Strategic alternatives for this asset will be evaluated.
Increased Operating Expenses
Operating expenses grew year-over-year due to ARCALYST revenue growth, tech transfer expenses, collaboration expenses, and R&D for abiprubart and KPL-387.
Net Loss for 2024
Reported a net loss of $8.9 million in the fourth quarter and $43.2 million for the full year 2024.
Company Guidance
During Kiniksa Pharmaceuticals' fourth-quarter 2024 earnings call, the company provided guidance for ARCALYST's 2025 revenue, projecting net revenue between $560 million and $580 million. The call highlighted significant financial metrics, including a 79% increase in ARCALYST's full-year 2024 revenue to $417 million, and a 108% rise in collaboration profit to $234.7 million for the same period. Kiniksa also announced the advancement of KPL-387, a monoclonal antibody IL-1 receptor antagonist, with plans to initiate a Phase 2/3 trial in mid-2025 and target market entry by the 2028/2029 timeframe. The company's robust financial position was underscored by a $244 million cash balance at the end of 2024 and an expectation to remain cash flow positive annually.Kiniksa Pharmaceuticals Corporate Events
Product-Related AnnouncementsBusiness Operations and StrategyFinancial Disclosures
Kiniksa Pharmaceuticals Ends License Agreement with MedImmune
Neutral
Feb 25, 2025
Kiniksa Pharmaceuticals announced the termination of its license agreement with MedImmune for mavrilimumab, effective May 22, 2025, as part of a strategic reprioritization. The company also decided to discontinue the Phase 2b clinical trial of abiprubart in Sjögren’s Disease, incurring significant expenses related to contract termination costs. Despite these changes, Kiniksa reported strong financial results for 2024, with ARCALYST sales growing by 79% year-over-year, and plans to initiate a Phase 2/3 trial for KPL-387 in recurrent pericarditis in mid-2025.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.