Kiniksa Pharmaceuticals International, plc
Business
Kiniksa Pharmaceuticals International, plc is a biopharmaceutical company that develops and commercializes novel therapies focused on cardiovascular and autoinflammatory diseases. Its main products and services include the marketed IL-1α/IL-1β cytokine trap ARCALYST and a pipeline of investigational monoclonal antibodies (KPL-387, KPL-1161, abiprubart) and discovery-stage programs. Key business activities comprise commercialization of ARCALYST, clinical development and manufacturing partnerships, and licensing and collaboration arrangements to advance and out-license assets. The company commercializes ARCALYST in the United States through specialty pharmacies, holds worldwide (excluding certain regions) rights to programs, and has granted regional development and commercialization rights in the Asia Pacific territory to a partner.
Summary from filing dated 2025-02-25
Financials
Consolidated Statement of Income
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 678 | 423 | 270 | 220 | 39 | |
| Cost of goods sold | 78 | 61 | 33 | 23 | 9 | |
| Collaboration expenses | 230 | 128 | 57 | 24 | — | |
| Research and development | 97 | 112 | 76 | 65 | 99 | |
| Selling, general and administrative | 196 | 168 | 129 | 98 | 86 | |
| Total operating expenses | 600 | 469 | 295 | 210 | 195 | |
| Income (loss) from operations | 77 | −46 | −25 | 10 | −157 | |
| Other income, net | 12 | 9 | 9 | 1 | 97,000 | |
| Income (loss) before income taxes | 89 | −36 | −17 | 11 | −157 | |
| Benefit (provision) for income taxes | −30 | −7 | 31 | 172 | −1 | |
| Net income (loss) | 59 | −43 | 14 | 183 | −158 | |
| Net income (loss) per share attributable to ordinary shareholders, basic | 0.8 | −0.6 | 0.2 | 2.64 | −2.3 | |
| Net income (loss) per share attributable to ordinary shareholders, diluted | 0.75 | −0.6 | 0.2 | 2.6 | −2.3 | |
| Weighted average ordinary shares outstanding, basic | 74 | 71 | 70 | 69 | 69 | |
| Weighted average ordinary shares outstanding, diluted | 79 | 71 | 72 | 70 | 69 | |
| Unrealized gain (loss) on short-term investments and currency translation adjustments, net of tax | 138,000 | −169,000 | −38,000 | 110,000 | −32,000 | |
| Total other comprehensive income (loss) | 138,000 | −169,000 | −38,000 | 110,000 | −32,000 | |
| Total comprehensive income (loss) | 59 | −43 | 14 | 183 | −158 |
Consolidated Balance Sheet
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 166 | 184 | 108 | 123 | 122 | |
| Short-term investments | 248 | 60 | 98 | 68 | 60 | |
| Accounts receivable, net | 16 | 42 | 21 | 13 | 4 | |
| Inventory | 55 | 26 | 31 | 22 | 4 | |
| Prepaid expenses and other current assets | 43 | 20 | 18 | 11 | 7 | |
| Total current assets | 527 | 332 | 276 | 243 | 196 | |
| Property and equipment, net | 2 | 662,000 | 734,000 | 2 | 3 | |
| Operating lease right-of-use assets | 10 | 10 | 12 | 5 | 6 | |
| Other long-term assets | 11 | 10 | 827,000 | 6 | 9 | |
| Intangible asset, net | 15 | 16 | 17 | 18 | 19 | |
| Deferred tax assets | 198 | 211 | 219 | 185 | — | |
| Total assets | 764 | 581 | 526 | 460 | 233 | |
| Accounts payable | 2 | 2 | 8 | 8 | 2 | |
| Accrued collaboration expenses | 70 | 48 | 17 | — | — | |
| Accrued expenses | 42 | 32 | 28 | 30 | 38 | |
| Operating lease liabilities | 3 | 2 | 2 | 3 | 3 | |
| Other current liabilities | 22 | 16 | 8 | 6 | 2 | |
| Total current liabilities | 139 | 101 | 64 | 47 | 45 | |
| Non-current deferred revenue | 32 | 32 | 12 | 12 | — | |
| Non-current operating lease liabilities | 7 | 8 | 10 | 3 | 3 | |
| Other long-term liabilities | 19 | 2 | 2 | 2 | 270,000 | |
| Total liabilities | 196 | 142 | 87 | 64 | 48 | |
| Commitments and contingencies (Note 16) | — | — | — | — | — | |
| Additional paid-in capital | 1,030 | 960 | 917 | 888 | 860 | |
| Accumulated other comprehensive loss | −25,000 | −163,000 | 6,000 | 44,000 | −66,000 | |
| Accumulated deficit | −462 | −521 | −478 | −492 | −675 | |
| Total shareholders' equity | 568 | 438 | 439 | 396 | 185 | |
| Total liabilities and shareholders' equity | 764 | 581 | 526 | 460 | 233 |
Consolidated Statement of Cash Flows
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income (loss) | 59 | −43 | 14 | 183 | −158 | |
| Depreciation and amortization expense | 2 | 2 | 2 | 2 | 2 | |
| Share-based compensation expense | 37 | 31 | 27 | 25 | 25 | |
| Non-cash lease expense | 4 | 3 | 3 | 3 | 3 | |
| Net amortization (accretion) of discounts on short-term investments | −916,000 | 441,000 | −1 | −82,000 | 664,000 | |
| Net (gain) loss on disposal of property and equipment | −120,000 | −24,000 | 179,000 | 33,000 | 103,000 | |
| Deferred income taxes | 13 | 8 | −34 | −185 | 11,000 | |
| Prepaid expenses and other current assets | −22 | −3 | −7 | −4 | 3 | |
| Accounts receivable, net | 26 | −20 | −9 | −9 | −4 | |
| Inventory | −29 | 5 | −10 | −18 | −4 | |
| Contract asset | — | — | 8 | −8 | — | |
| Other long-term assets | −1 | −10 | 5 | 3 | −3 | |
| Accounts payable | 142,000 | −6 | 347,000 | 6 | 1 | |
| Accrued expenses, accrued collaboration expenses and other current liabilities | 37 | 44 | 17 | −4 | 10 | |
| Operating lease liabilities | −3 | −4 | −3 | −3 | −3 | |
| Deferred revenue | — | 20 | 261,000 | 12 | — | |
| Other long-term liabilities | 17 | −35,000 | 19,000 | 2 | −535,000 | |
| Net cash provided by operating activities | 138 | 26 | 13 | 6 | −126 | |
| Proceeds from sale of property and equipment | — | 25,000 | — | 91,000 | — | |
| Purchases of property and equipment | −2 | −277,000 | −130,000 | −105,000 | −415,000 | |
| Purchases of short-term investments | −387 | −202 | −205 | −136 | −157 | |
| Proceeds from the maturities of short-term investments | 199 | 240 | 176 | 128 | 306 | |
| Net cash provided by (used in) investing activities | −189 | 38 | −30 | −8 | 129 | |
| Proceeds from issuance of Class A ordinary shares under incentive award plans and employee share purchase plan | 41 | 17 | 4 | 3 | 6 | |
| Payments in connection with ordinary stock tendered for employee tax obligations | −8 | −5 | −2 | −901,000 | — | |
| Net cash provided by financing activities | 33 | 12 | 1 | 3 | 6 | |
| Net increase (decrease) in cash and cash equivalents | −18 | 76 | −15 | 245,000 | 8 | |
| Cash paid for income taxes, net | 3 | 2 | 6 | 11 | 1 | |
| Change in right-of-use asset as a result of new, modified, and terminated leases | 3 | 2 | 10 | 3 | 2 | |
| Additions to property and equipment included in accrued expenses and other liabilities | 83,000 | 153,000 | 54,000 | — | — |