Knight Therapeutics Reports Third Quarter 2025 Results

Core Insights - Knight Therapeutics Inc. achieved record-high quarterly revenues, adjusted EBITDA, and adjusted EBITDA per share since inception, with increased financial guidance for 2025 [1][7][44] Financial Results - Revenues for Q3-25 were $121,548, an increase of $29,285 or 32% compared to Q3-24, driven by incremental revenues from the Paladin and Sumitomo Transactions and growth in key promoted products [6][12] - Adjusted revenues were $122,628, reflecting a 34% increase year-over-year [6][64] - Gross margin was $55,810 or 46% of revenues, down from 49% in the same period last year, impacted by hyperinflation and step-up expenses [6][16] - Operating income was $646, a significant decrease from $3,203 in Q3-24, while net loss was $3,791 compared to net income of $85 in the prior year [6][20] - Adjusted EBITDA reached $20,987, a 56% increase from the previous year, with adjusted EBITDA per share at $0.21, up 62% [6][64] Product Developments - Knight launched several products including Jornay PM™ in Canada, Minjuvi in Argentina, and Pemazyre in Brazil and Mexico [7][34][37] - The company expanded its partnership with Incyte for exclusive distribution rights of retifanlimab and axatilimab in Latin America [31] - Regulatory setbacks were noted for Tavalisse in Brazil and Qelbree in Canada, with appeals and responses planned [38][39] Corporate Developments - The company initiated a Normal Course Issuer Bid (NCIB) to purchase up to 3,000,000 common shares over the next 12 months [6][41] - Knight doubled its revolving credit facility to US$100 million, enhancing financial flexibility for future transactions [7][42] Financial Outlook - For fiscal 2025, Knight increased its revenue guidance to between $430 million to $440 million, up from $410 million to $420 million, with adjusted EBITDA expected to be between 13.5% to 14.5% of revenues [44]