Kiniksa Pharmaceuticals, Ltd. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kiniksa Pharmaceuticals, Ltd. filed its 2023 10-K, detailing financial position and operations.</b>

AI Summary

Kiniksa Pharmaceuticals, Ltd. (KNSA) filed a Annual Report (10-K) with the SEC on February 28, 2024. Kiniksa Pharmaceuticals, Ltd. reported total assets of $1,707,586,800 as of December 31, 2023. The company's retained earnings were $16,057,618 as of December 31, 2023. Additional paid-in capital stood at $16,826,468 as of December 31, 2023. Accumulated other comprehensive income was $1,605,761,800 as of December 31, 2023. The filing covers the fiscal year ending December 31, 2023.

Why It Matters

For investors and stakeholders tracking Kiniksa Pharmaceuticals, Ltd., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kiniksa's financial health and operational status for the fiscal year 2023, crucial for investors to assess performance and future prospects. The detailed financial statements and disclosures within this report are essential for understanding the company's asset base, equity structure, and accumulated financial results, informing investment decisions.

Risk Assessment

Risk Level: low — Kiniksa Pharmaceuticals, Ltd. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate red flags or significant negative developments, indicating a routine disclosure of financial information.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Kiniksa's financial position and strategic outlook for 2024.

Key Numbers

• 1,707,586,800 — Total Assets (As of December 31, 2023)
• 16,057,618 — Retained Earnings (As of December 31, 2023)
• 16,826,468 — Additional Paid-In Capital (As of December 31, 2023)
• 1,605,761,800 — Accumulated Other Comprehensive Income (As of December 31, 2023)
• 2023-12-31 — Fiscal Year End (Report period)
• 2024-02-28 — Filing Date (Date of submission)

Key Players & Entities

• Kiniksa Pharmaceuticals, Ltd. (company) — Filer name
• KNSA (company) — Ticker symbol
• 2023-12-31 (date) — Fiscal year end
• 2024-02-28 (date) — Filing date
• 1,707,586,800 (dollar_amount) — Total assets as of December 31, 2023
• 16,057,618 (dollar_amount) — Retained earnings as of December 31, 2023
• 16,826,468 (dollar_amount) — Additional paid-in capital as of December 31, 2023
• 1,605,761,800 (dollar_amount) — Accumulated other comprehensive income as of December 31, 2023

FAQ

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-02-28: Filing Date — Date the 10-K was officially submitted to the SEC.

Key Financial Figures

• $0.000273235 — 80,282 Class A common shares, par value $0.000273235 per share 1,795,158 Class B common sha

Filing Documents

• knsa-20231231x10k.htm (10-K) — 3448KB
• knsa-20231231xex10d36.htm (EX-10.36) — 88KB
• knsa-20231231xex19d1.htm (EX-19.1) — 159KB
• knsa-20231231xex23d1.htm (EX-23.1) — 2KB
• knsa-20231231xex31d1.htm (EX-31.1) — 14KB
• knsa-20231231xex31d2.htm (EX-31.2) — 14KB
• knsa-20231231xex32d1.htm (EX-32.1) — 8KB
• knsa-20231231xex32d2.htm (EX-32.2) — 7KB
• knsa-20231231xex97d1.htm (EX-97.1) — 61KB
• knsa-20231231x10k006.jpg (GRAPHIC) — 76KB
• knsa-20231231xex19d1001.jpg (GRAPHIC) — 10KB
• knsa-20231231xex97d1001.jpg (GRAPHIC) — 10KB
• 0001558370-24-002005.txt (&nbsp;) — 13058KB
• knsa-20231231.xsd (EX-101.SCH) — 73KB
• knsa-20231231_cal.xml (EX-101.CAL) — 72KB
• knsa-20231231_def.xml (EX-101.DEF) — 315KB
• knsa-20231231_lab.xml (EX-101.LAB) — 651KB
• knsa-20231231_pre.xml (EX-101.PRE) — 497KB
• knsa-20231231x10k_htm.xml (XML) — 2314KB

Business

Item 1. Business 6

Risk Factors

Item 1A. Risk Factors 44

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 112

Cybersecurity

Item 1C. Cybersecurity 112

Properties

Item 2. Properties 113

Legal Proceedings

Item 3. Legal Proceedings 113

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 113 PART II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 114

Reserved

Item 6. Reserved. 114

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 115

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 128

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 128

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 128

Controls and Procedures

Item 9A. Controls and Procedures 129

Other Information

Item 9B. Other Information 129

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections. 129 PART III

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 130

Executive Compensation

Item 11. Executive Compensation 130

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 130

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 130

Principal Accounting Fees and Services

Item 14. Principal Accounting Fees and Services 130 PART IV

Exhibits and Financial Statement Schedules

Item 15. Exhibits and Financial Statement Schedules 131

Form 10-K Summary

Item 16. Form 10-K Summary 137 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K (this "Annual Report") contains forward-looking statements. All statements other than statements of historical facts contained in this Annual Report including statements regarding our commercial strategy; potential value drivers; potential indications; potential market opportunities and competitive position; ongoing, planned and potential clinical trials and other studies; timing and potential impact of clinical data; future results of operations and financial position; expected timeline for our cash, cash equivalents and short-term investments; product development; prospective products and product candidates; supply of drug products at acceptable cost and quality; collaborators, license and other strategic arrangements; the expected timeline for achievement of our clinical milestones; potential marketing authorization from the U.S. Food and Drug Administration (the "FDA") or regulatory authorities in other jurisdictions; potential and ongoing coverage and reimbursement for our products and product candidates, if approved; clinical and commercial activities; research and development costs; timing of regulatory filings and feedback; timing and likelihood of success; and plans and objectives of management for future operations and funding requirements, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "intend," "goal," "design," "target," "project," "contemplate," "believe," "estimate," "predict," "potential" or "continu

BUSINESS

ITEM 1. BUSINESS. Overview We are a commercial-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases with significant unmet medical need. Our portfolio of immune-modulating assets, ARCALYST (rilonacept), abiprubart (also known as KPL-404) and mavrilimumab, is based on strong biologic rationale or validated mechanisms, targets a spectrum of underserved cardiovascular and autoimmune conditions, and offers the potential for differentiation. 6 Table of Contents ARCALYST is an interleukin-1 and interleukin-1 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. In February 2022, we granted Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. ("Huadong") exclusive rights to develop and commercialize ARCALYST in the Asia Pacific region, excluding Japan. 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 commercially available across the United States through a select network of distributors. 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