Kiniksa Pharmaceuticals Q2 2024 Update

TL;DR

Kiniksa Q2 2024: $160M+ revenue, solid balance sheet. Keep watching.

AI Summary

Kiniksa Pharmaceuticals International, plc filed its 10-Q for the period ending June 30, 2024. The company reported significant financial figures, including $160,576,180 in revenue for the period. Key balance sheet items as of June 30, 2024, include $35,781,373 in Additional Paid-In Capital and $16,826,468 in Retained Earnings.

Why It Matters

This filing provides investors with a quarterly update on Kiniksa Pharmaceuticals' financial performance and position, crucial for assessing the company's ongoing operations and future prospects.

Risk Assessment

Risk Level: medium — As a pharmaceutical company, Kiniksa faces inherent risks related to drug development, regulatory approvals, and market competition, which are not fully detailed in this summary but are typical for the sector.

Key Numbers

• $160.58M — Revenue (Reported for the period ending June 30, 2024.)
• $35.78M — Additional Paid-In Capital (As of June 30, 2024, indicating capital raised from stock issuance.)
• $16.83M — Retained Earnings (As of June 30, 2024, reflecting accumulated profits.)

Key Players & Entities

• Kiniksa Pharmaceuticals International, plc (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• $160,576,180 (dollar_amount) — Revenue for the period
• $35,781,373 (dollar_amount) — Additional Paid-In Capital as of June 30, 2024
• $16,826,468 (dollar_amount) — Retained Earnings as of June 30, 2024

FAQ

Key Financial Figures

• $0.000273235 — Class A ordinary shares, nominal value $0.000273235 per share 1,795,158 Class B ordinary

Filing Documents

• knsa-20240630x10q.htm (10-Q) — 2328KB
• knsa-20240630xex10d12.htm (EX-10.12) — 362KB
• knsa-20240630xex10d13.htm (EX-10.13) — 79KB
• knsa-20240630xex31d1.htm (EX-31.1) — 11KB
• knsa-20240630xex31d2.htm (EX-31.2) — 10KB
• knsa-20240630xex32d1.htm (EX-32.1) — 6KB
• knsa-20240630xex32d2.htm (EX-32.2) — 6KB
• 0001558370-24-010181.txt ( ) — 9126KB
• knsa-20240630.xsd (EX-101.SCH) — 53KB
• knsa-20240630_cal.xml (EX-101.CAL) — 51KB
• knsa-20240630_def.xml (EX-101.DEF) — 278KB
• knsa-20240630_lab.xml (EX-101.LAB) — 461KB
• knsa-20240630_pre.xml (EX-101.PRE) — 381KB
• knsa-20240630x10q_htm.xml (XML) — 1442KB

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION 7

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) 7 Consolidated Balance Sheets as of June 30, 2024 and December 31, 2023 7 Consolidated Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2024 and 2023 8 Consolidated Statements of Shareholders' Equity for the three and six months ended June 30, 2024 and 2023 9 Consolidated Statements of Cash Flows for the six months ended June 30, 2024 and 2023 10

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 11

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 42

Controls and Procedures

Item 4. Controls and Procedures 42

— OTHER INFORMATION

PART II — OTHER INFORMATION 44

Legal Proceedings

Item 1. Legal Proceedings 44

Risk Factors

Item 1A. Risk Factors 44

Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds and Issuer Purchases of Equity Securities 111

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 111

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 111

Other Information

Item 5. Other Information 111

Exhibits

Item 6. Exhibits 112

SIGNATURES

SIGNATURES 115 2 Table of Contents SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report"), contains forward-looking statements. All statements other than statements of historical facts contained in this Quarterly 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 "continue" or

— Financial Information

Part I — Financial Information

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited) KINIKSA PHARMACEUTICALS INTERNATIONAL, PLC CONSOLIDATED BALANCE SHEETS (In thousands, except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 99,271 $ 107,954 Short-term investments 119,487 98,417 Accounts receivable, net 20,451 21,266 Inventory 34,858 31,122 Prepaid expenses and other current assets 26,954 17,538 Total current assets 301,021 276,297 Property and equipment, net 625 734 Operating lease right-of-use assets 11,779 11,931 Other long-term assets 7,904 827 Intangible asset, net 16,750 17,250 Deferred tax assets 204,349 219,283 Total assets $ 542,428 $ 526,322 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 7,393 $ 8,246 Accrued collaboration expenses 29,943 16,939 Accrued expenses 33,374 27,728 Deferred revenue 12 307 Operating lease liabilities 2,085 2,253 Other current liabilities 11,484 8,193 Total current liabilities 84,291 63,666 Non-current liabilities: Non-current deferred revenue 11,799 11,954 Non-current operating lease liabilities 9,317 10,005 Other long-term liabilities 1,926 1,858 Total liabilities 107,333 87,483 Commitments and contingencies (Note 13) Shareholders' equity: Class A ordinary shares, nominal value of $ 0.000273235 per share; 40,447,538 shares and 35,781,373 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 11 10 Class B ordinary shares, nominal value of $ 0.000273235 per share; 1,795,158 shares issued and outstanding as of June 30, 2024 and December 31, 2023 1 1 Class A1 ordinary shares, $ 0.000273235 nominal value; 12,781,964 and 16,826,468 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 4 5 Class B1 ordinary shares, $ 0.000273235 nominal value; 16,05