Q2 2024 Knight Therapeutics Inc Earnings Call Transcript
Key Points
- Knight Therapeutics Inc (KHTRF) reported record revenues of $180 million for the first six months of 2024, excluding hyperinflation.
- The company's innovative product portfolio grew by 12%, driven by products like Lenvima, Akynzeo, Trelstar, and the launch of Minjuvi in Brazil.
- Knight Therapeutics Inc (KHTRF) expanded its pipeline with the in-licensing of Journey PM, a novel formulation for ADHD, complementing its neurology portfolio.
- The oncology and hematologic disease portfolio saw a revenue increase of 28% compared to the same period last year.
- Knight Therapeutics Inc (KHTRF) increased its financial guidance for 2024 revenues to between $355 million and $365 million, up from the previous range of $335 million to $350 million.
- The infectious disease portfolio experienced a revenue decrease of 17% compared to the same period last year, primarily due to timing of orders and decreased demand for certain products.
- Operating expenses increased by 12% compared to the same period last year, driven by higher G&A costs and development expenses.
- Cash outflows from operations were $1.1 million during Q2 2024, influenced by an increase in working capital.
- The company faces challenges with hyperinflation in Argentina, making it difficult to predict financial outcomes accurately.
- Knight Therapeutics Inc (KHTRF) anticipates potential lumpy quarters and swings in working capital due to inventory purchases.
Good morning, ladies and gentlemen. My name is Angeline and I will be your operator for today. Welcome to Knight Therapeutics second quarter 2024 results conference call.
Before turning the call over to Sameer Sakhia, President and CEO of Knight. Listeners are reminded that portions of today's discussion may by their nature necessary and involve risks and uncertainties that could cause actual results to differ materially from those contemplated by the forward-looking statements.
The company considers the assumptions on which these forward-looking statements are based to be reasonable as of the time they were prepared, but cautions that these assumptions regarding the future events, many of which are beyond the control of the company and its subsidiaries may ultimately prove to be incorrect. The company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, except as required by law.
We would also like to remind you questions during today's call will be taken from analysts only. Should
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