NASDAQ$KNSA

Kiniksa Pharmaceuticals Ltd · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Kiniksa reported fourth quarter and full-year 2021 financial results and provided a corporate update.

Kiniksa announced ARCALYST collaboration achieved profitability in Q4 2021. They anticipate continued robust commercial execution and the further advancement of their clinical-stage pipeline in 2022. A strategic collaboration with Huadong Medicine was established to develop and commercialize ARCALYST and mavrilimumab in the Asia Pacific Region (excluding Japan).

  • ARCALYST collaboration achieved profitability in Q4 2021.
  • ARCALYST full-year 2022 net revenue expected to be $115 - $130 million.
  • Strategic collaboration with Huadong Medicine to develop and commercialize ARCALYST and mavrilimumab in the Asia Pacific Region (excluding Japan).
  • Phase 2b study of vixarelimab in prurigo nodularis data expected in the second half of 2022.

Headline financials

Total Revenue

$18.7M

No prior period
EPS (adj)

-$0.53

Previous: -$0.79+32.9%
Capital Expenditures

$251K

Previous: $55K+356.4%
Free Cash Flow

-$19.1M

Previous: -$41.2M+53.6%
Net Income

-$36.3M

Previous: -$53.7M+32.3%
Operating Income

-$36.1M

Previous: -$52.9M+31.7%
Gross Profit

$14.9M

No prior period
Cash & Equivalents

$122M

Previous: $323M-62.1%
Total Assets

$233M

Previous: $349M-33.4%
Stock-Based Comp

$6.13M

Previous: $6.26M-2.0%

Revenue & EPS history

Kiniksa · Revenue · Quarterly

$18.7M

Q4 2021
Beat estimate in 11 of 13 quarters(85%)
ActualEstimate

Revenue by segment

Kiniksa · $64.8M total across 1 segment · Q3 2023

  • ARCALYST
    $64.8M+94.0%

Forward guidance

Kiniksa expects continued robust commercial execution and further advancement of its clinical-stage pipeline in 2022.

Tailwinds

  • Continued robust commercial execution.
  • Further advancement of clinical-stage pipeline.
  • Data from the Phase 2b study of vixarelimab in prurigo nodularis expected in the second half of 2022.
  • Continued enrollment in the Phase 2 trial of KPL-404 in rheumatoid arthritis in 2022.
  • Collaboration with Huadong Medicine provides non-dilutive capital and the opportunity to accelerate the development of ARCALYST and mavrilimumab.

Headwinds

  • Delays or difficulty in enrollment of patients in clinical trials.
  • Potential for changes between final data and any preliminary, interim, top-line or other data from clinical trials.
  • Inability to replicate results from earlier clinical trials or studies.
  • Potential undesirable side effects caused by products and product candidates.
  • Reliance on third parties as the sole source of supply of drug substance and drug product.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

+5.3%

Avg return

Earnings day

+5.2%

Avg return

5 days after

+7.8%

Avg return

30 days after

55%

17 / 31 earnings

Positive

+45.8%

Q3 2021

Best reaction

-16.6%

Q3 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+23.5%+26.7%+16.6%
Q4 2025-4.7%-6.1%-1.3%
Q3 2025-2.9%-8.8%+4.8%
Q1 2025+20.5%+28.8%+26.6%
Q4 2024+0.5%+3.3%+19.0%
Q3 2024-16.6%-18.5%-19.1%
Q2 2024+17.8%+22.1%+22.5%
Q1 2024+4.4%+4.6%+12.1%
Q4 2023+1.2%-3.4%-5.6%
Q3 2023-3.4%+3.3%+3.1%
Q2 2023+35.2%+26.8%+18.1%
Q1 2023+24.2%+24.7%+29.0%
Q4 2022-5.6%-7.8%-19.7%
Q3 2022+8.6%+21.7%+49.3%
Q2 2022+17.3%+29.9%+14.7%
Q1 2022+5.1%-6.8%-18.4%
Q4 2021-6.8%-3.4%-7.2%
Q3 2021+45.8%+41.8%+8.8%
Q2 2021-1.4%-5.4%-10.0%
Q1 2021-9.0%-11.4%-19.4%
Q4 2020-6.3%-11.9%-28.5%
Q3 2020-5.9%-7.2%+9.6%
Q2 2020+0.8%-1.2%-14.7%
Q1 2020-7.0%-9.2%-0.6%
Q4 2019-0.7%+6.1%-29.5%
Q3 2019+15.7%+24.5%+80.8%
Q2 2019-2.4%-12.1%-9.4%
Q1 2019+8.2%+2.6%+6.5%
Q4 2018-6.1%-0.2%+20.2%
Q3 2018+11.9%+5.1%+6.2%
Q2 2018+1.7%+3.5%+78.2%
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017

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