Kiniksa Pharmaceuticals Ltd. (KNSA) stock surged in the after-market session on Thursday, March 19, 2021. It gained 10.50% in the extended trading session after losing 3.29% in the morning session.
ARCALYST approved by FDA
On March 18, 2021, KNSA announced ARCALYST ® (rilonacept) by the FDA. ARCALYST is a weekly subcutaneously-injected, recombinant fusion protein that blocks interleukin-1 alpha (IL-1α) and interleukin-1 beta (IL-1β), signaling the treatment of recurrent pericarditis and reduction in risk of recurrence in adults and children 12 years and older. KSNA will launch the product commercially in April 2021.
Chief Executive Officer and Chairman of the Board of KiniksaSanj K. Patel said that the ARCALYST is the first and only FDA-approved therapy in recurrent pericarditis. It also represents a transformational event for Kiniksa.
Launching Patient Registry (RESONANCE) for Recurrent Pericarditis
On March 02, 2021, Kiniksa Pharmaceuticals, Ltd. officially launched the RESONANCE registry in pediatric and adult patients with recurrent pericarditis. Recurrent pericarditis is a painful and devastating autoinflammatory cardiovascular disease.
The RESONANCE registry will be used by physician-researchers with experience in managing patients with recurrent pericarditis.
Recent Financial Results
Kiniksa Pharmaceuticals reported fourth-quarter and full-year 2020 financial results on March 2, 2021.
Q4 2020 highlights
- KNSA suffered a net loss of $53.7 million for the fourth quarter of 2020 compared to a net loss of $31.8 million for the fourth quarter of 2019.
- It spent $52.9 million in total operating expenses for the reported quarter compared to $32.6 million for the fourth quarter of 2019.
- KNSA spent $6.3 million in Non-cash, share-based compensation expense in 4Q 2020, compared to $5.0 million for the fourth quarter of 2019.
Full-year 2020 highlights
- Net loss for the full-year 2020 was $161.4 million, compared to a net loss of $161.9 million for the full-year 2019.
- Non-cash, share-based compensation expense for the full-year 2020 was $20.9 million, compared to $15.1 million for the full-year 2019.
- KNSA spent $157.4 millionin total operating expenses for the full-year 2020, compared to $170.0 million for the full-year 2019.
- The company had cash, cash equivalents, and short-term investments of $323.5 millionand no debt as of December 31, 2020.
Conclusion: the latest approval of KNSA’s ARCALYST can attract investors as it is the only FDA-approved therapy in recurrent pericarditis.