Q2 2024 Kiniksa Pharmaceuticals Ltd Earnings Call Transcript
Key Points
- ARCALYST net product revenue grew to $103.4 million, representing a 90% year-over-year growth.
- The company has maintained a strong financial position and expects to be cash flow positive on an annual basis.
- Enrollment has started for the Phase 2b study of abiprubart in Sjögren’s disease, a chronic autoimmune disease with no FDA-approved therapies.
- The number of prescribers for ARCALYST has increased from approximately 2,000 in Q1 to approximately 2,300 in Q2.
- Kiniksa has expanded its sales force and launched initiatives with the American Heart Association and Henrik Lundqvist to raise awareness and improve care for recurrent pericarditis.
- Net loss in the second quarter was $3.9 million compared to net income of $15 million in the same quarter last year.
- Higher cost of goods sold and collaboration expenses have driven year-over-year operating expense growth.
- The company does not expect the same rate of improvement in compliance and gross-to-net metrics in future quarters.
- Only 11% of the 14,000 target population for recurrent pericarditis are currently on ARCALYST treatment, indicating room for improvement.
- There is uncertainty regarding the future gross-to-net percentage, which could impact financial projections.
Good day and thank you for standing by. Welcome to Kiniksa Pharmaceuticals second-quarter 2024 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I will now hand the conference over to your speaker host for today, Rachel Frank, Head of Investor Relations. Please go ahead.
Thank you, operator. Good morning, everyone, and thank you for joining Kiniksa's call to discuss our second-quarter 2024 financial results and recent portfolio execution. A press release highlighting these results can be found in our website under the Investors section.
As for the agenda, our Chief Executive Officer, Sanj K. Patel, will start with an introduction. Next Ross Moat, our Chief Commercial Officer, will provide an update on the ARCALYST commercial execution. From there, Mark Ragosa, our Chief Financial Officer, will review our second-quarter 2024 financial results. And finally, Sanj will return for closing remarks and to kick off the Q&A
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
