Kiniksa Pharmaceuticals Ltd. (NASDAQ: KNSA) Announces Q3 2021 Financial Results Boosted By ARCALYST Revenue Of $12M

Kiniksa Pharmaceuticals Ltd. (NASDAQ: KNSA) has announced its Q3 2021 financial results and highlighted its recent portfolio execution.

Kiniksa generated revenue of $12.1 million from ARCALYST

The company reported net revenue of $12.1 million for ARCALYST sales and a net loss of $30.5 million relative to $43.8 million in Q3 2020. At the end of the quarter, the company had cash, equivalents, and short-term investment of around $200 million without any debt. For the fourth quarter, the company is anticipating ARCALYST net revenue of $16 million to $17 million. In addition, the company expects the available cash and equivalents to fund the current operating plan through 2023.

CEO and Chairman of Kiniksa Sanj Patel said, “We are delighted with the ARCALYST launch performance in recurrent pericarditis. The continued momentum underscores the dedication of our first-rate team as well as the unmet need for patients with this debilitating disease. In addition to our ongoing commercial efforts, we are executing on our clinical-stage pipeline. Mavrilimumab demonstrated potentially best-in-class mortality reduction in a Phase 2 study in non-mechanically ventilated patients with COVID-19-related ARDS, and Phase 3 data are on track for the first quarter of 2022. We are also conducting a dose-ranging Phase 2b study of vixarelimab in prurigo nodularis with data expected in the second half of 2022. Furthermore, we expect to initiate a Phase 2 proof-of-concept trial of KPL-404 in rheumatoid arthritis by the end of 2021.”

Over 200 physicians prescribed ARCALYST 

In Q3 2021, over 200 physicians prescribed ARCALYST for recurrent pericarditis, with over 90% of the finalized enrolment cases for recurrent pericarditis receiving approval for coverage.

Also, the company indicated that mavrilimumab had shown a wide utility in various indications, including COVID-19-induced acute respiratory distress syndrome and giant cell arteritis. Kiniksa anticipates phase 3 clinical study results of mavrilimumab in non-mechanically ventilated, hospitalized patients with COVID-19 induced ARDS in Q1 2022.