Kiniksa(KNSA) - 2025 Q1 - Quarterly Results

Revenue Performance - ARCALYST (rilonacept) Q1 2025 net product revenue was $137.8 million, representing a 75% year-over-year growth[1]. - Total revenue for Q1 2025 was $137.8 million, compared to $79.9 million for Q1 2024[10]. - Kiniksa expects 2025 ARCALYST net product revenue to be between $590 million and $605 million, up from previous guidance of $560 million to $580 million[10]. Financial Results - Net income for Q1 2025 was $8.5 million, compared to a net loss of $17.7 million for Q1 2024[10]. - Total operating expenses for Q1 2025 were $124.5 million, compared to $96.4 million for Q1 2024[10]. Cash and Investments - As of March 31, 2025, Kiniksa had $268.3 million in cash, cash equivalents, and short-term investments, with no debt[10]. - Cash, cash equivalents, and short-term investments increased to $268,340,000 as of March 31, 2025, up from $243,627,000 on December 31, 2024, representing a growth of 10.5%[28]. - Working capital rose to $258,640,000, an increase of 11.9% from $231,178,000 at the end of 2024[28]. Asset and Equity Growth - Total assets increased to $599,326,000, reflecting a growth of 3.0% from $580,553,000 as of December 31, 2024[28]. - The accumulated deficit decreased to $(512,604,000) from $(521,143,000), indicating an improvement in financial position[28]. - Total shareholders' equity increased to $457,489,000, up 4.4% from $438,436,000 at the end of 2024[28]. Clinical Development - Average total duration of ARCALYST therapy in recurrent pericarditis increased to approximately 30 months, up from 27 months at the end of Q4 2024[5]. - KPL-387 Phase 2/3 clinical trial in recurrent pericarditis is on track to initiate in mid-2025, with Phase 2 data expected in 2H 2026[1]. Operational Considerations - The company continues to monitor potential implications of tariffs on pharmaceuticals imported into the United States[10]. - Kiniksa plans to transfer drug substance manufacturing for ARCALYST to Samsung Biologics in South Korea, expecting any future impact on gross margin to be immaterial[10].