Kiniksa Pharmaceuticals International, plc KNSA
We are a biopharmaceutical company developing and commercializing novel therapies for diseases with unmet need, with a focus on cardiovascular indications. Our portfolio of assets is based on strong biologic rationale or validated mechanisms and offers the potential for differentiation.
ARCALYST is an interleukin-1α ("IL-1α") and interleukin-1β ("IL-1β") cytokine trap. In 2017, we licensed ARCALYST from Regeneron, which discovered and initially developed the drug. Our exclusive license to ARCALYST from Regeneron includes worldwide rights, excluding the Middle East and North Africa, for all applications other than those in oncology and local administration to the eye or ear.
We received FDA approval of ARCALYST for the treatment of recurrent pericarditis and reduction in risk of recurrence in adults and children 12 years and older in March 2021. Recurrent pericarditis is a painful inflammatory cardiovascular disease with an estimated United States prevalent population of approximately 40,000 patients seeking and receiving medical treatment. ARCALYST is also approved in the United States for the treatment of Cryopyrin-Associated Periodic Syndromes ("CAPS"), including Familial Cold Autoinflammatory Syndrome ("FCAS") and Muckle-Wells Syndrome in adults and children 12 years and older, and the maintenance of remission in Deficiency of Interleukin-1 Receptor Antagonist ("DIRA") in adults and children weighing 10 kg or more.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $677.6M | $423.2M | $270.3M | $220.2M | $38.5M | — | — | — | — | — |
| Cost of revenue | $77.7M | $60.9M | $33.4M | $22.9M | $9.1M | — | — | — | — | — |
| Gross profit | $599.9M | $362.3M | $236.9M | $197.3M | $29.4M | — | — | — | — | — |
| R&D | $96.9M | $111.6M | $76.1M | $65.5M | $99.3M | $112.0M | $135.0M | $86.6M | $56.4M | — |
| SG&A | $196.3M | $168.0M | $129.4M | $98.0M | $85.9M | $45.3M | $35.0M | $21.6M | $9.0M | — |
| Total operating expenses | — | — | — | — | — | $157.4M | $170.0M | $108.2M | $65.4M | — |
| Operating income | $77.2M | -$45.6M | -$25.2M | $9.8M | -$156.6M | -$157.4M | -$170.0M | -$108.2M | -$65.4M | — |
| Pre-tax income | $88.9M | -$36.2M | -$16.7M | $11.0M | -$156.5M | -$156.2M | -$163.9M | -$103.4M | -$64.9M | — |
| Income tax | $29.9M | $7.0M | $30.7M | $172.3M | $1.4M | $5.2M | $2.0M | $214.0K | $2.0K | — |
| Net income | $59.0M | -$43.2M | $14.1M | $183.4M | -$157.9M | -$161.4M | -$161.9M | -$103.2M | -$64.9M | — |
| EPS, basic | 0.80 | -0.60 | 0.20 | 2.64 | -2.30 | -2.61 | -2.99 | — | — | — |
| EPS, diluted | 0.75 | -0.60 | 0.20 | 2.60 | -2.30 | -2.61 | -2.99 | -3.49 | -35.85 | — |
| Shares, diluted (wtd. avg.) | $79.0M | $71.4M | $71.9M | $70.4M | $68.6M | $61.8M | $54.0M | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $165.6M | $183.6M | $108.0M | $122.7M | $122.5M | $114.2M | $47.1M | $72.2M | $45.7M | $56.1M |
| Short-term investments | $248.5M | $60.0M | $98.4M | $67.9M | $59.7M | $209.4M | $186.5M | $235.3M | $0 | — |
| Receivables | $15.6M | $41.7M | $21.3M | $12.7M | $4.0M | — | — | — | — | — |
| Inventory | $54.9M | $26.4M | $31.1M | $21.6M | $3.7M | — | — | — | — | — |
| Total current assets | $527.2M | $331.8M | $276.3M | $243.1M | $196.4M | $333.2M | $241.6M | $313.8M | $47.1M | — |
| Property, plant and equipment | $1.9M | $662.0K | $734.0K | $1.7M | $2.8M | $4.1M | $6.4M | $6.4M | $125.0K | — |
| Other intangibles | $15.2M | $16.2M | $17.2M | $18.2M | $19.2M | $20.0M | — | — | — | — |
| Total assets | $763.6M | $580.6M | $526.3M | $459.7M | $232.8M | $349.5M | $254.5M | $322.0M | $47.5M | — |
| Accounts payable | $2.0M | $2.0M | $8.2M | $7.9M | $1.9M | $503.0K | $5.7M | $10.9M | $1.2M | — |
| Total current liabilities | $139.2M | $100.6M | $63.7M | $47.1M | $44.8M | $31.8M | $27.8M | $42.6M | $17.4M | — |
| Total liabilities | $196.0M | $142.1M | $87.5M | $63.5M | $47.8M | $37.5M | $29.1M | $42.7M | $17.4M | — |
| Retained earnings | -$462.1M | -$521.1M | -$477.9M | -$492.0M | -$675.4M | -$517.5M | -$356.1M | -$194.2M | -$91.0M | — |
| Total equity | $567.6M | $438.4M | $438.8M | $396.1M | $185.0M | $311.9M | $225.4M | $279.3M | -$89.7M | -$25.7M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $138.0M | $25.7M | $13.3M | $5.8M | -$126.3M | -$136.5M | -$158.4M | -$81.0M | -$50.2M | — |
| Depreciation and amortisation | $196.0K | $448.0K | $1.1M | $1.2M | $1.5M | $2.4M | $2.1M | $286.0K | $28.0K | — |
| Stock-based compensation | $37.0M | $30.7M | $27.1M | $25.1M | $25.2M | $20.9M | $15.1M | $5.7M | $897.0K | — |
| Capital expenditure | $1.6M | $277.0K | $130.0K | $105.0K | $415.0K | $283.0K | $3.2M | $5.3M | $69.0K | — |
| Investing cash flow | -$189.0M | $37.7M | -$29.6M | -$8.1M | $128.6M | -$23.4M | $49.2M | -$239.2M | -$69.0K | — |
| Financing cash flow | $33.0M | $12.3M | $1.5M | $2.5M | $5.9M | $227.1M | $84.1M | $346.7M | $39.9M | — |
| Dividends paid | — | — | — | — | — | — | — | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-044410.
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