Logo

KNSA

Kiniksa Pharmaceuticals, Ltd.

KNSA

Kiniksa Pharmaceuticals, Ltd. • NASDAQ
$42.52 ▼ -0.05% (-0.02)
Market Cap $3.12 B
52w High $42.98
52w Low $17.82
Dividend Yield 0%
P/E 94.49
Volume 108.18K
Outstanding Shares 73.29M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $180.855M ▲ $73.243M ▲ $18.435M ▲ 10.193% ▼ $0.25 ▲ $27.541M ▲
Q2-2025 $156.797M ▲ $65.616M ▲ $17.832M ▲ 11.373% ▲ $0.24 ▲ $20.518M ▲
Q1-2025 $137.785M ▲ $62.855M ▼ $8.539M ▲ 6.197% ▲ $0.12 ▲ $13.617M ▲
Q4-2024 $122.536M ▲ $75.662M ▲ $-8.888M ▲ -7.253% ▲ $-0.12 ▲ $-16.579M ▼
Q3-2024 $112.214M $72.456M $-12.693M -11.311% $-0.18 $-9.259M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $352.102M ▲ $712.333M ▲ $176.95M ▲ $535.383M ▲
Q2-2025 $307.782M ▲ $661.15M ▲ $166.143M ▲ $495.007M ▲
Q1-2025 $268.34M ▲ $599.326M ▲ $141.837M ▼ $457.489M ▲
Q4-2024 $243.627M ▲ $580.553M ▲ $142.117M ▲ $438.436M ▲
Q3-2024 $223.78M $555.298M $118.292M $437.006M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $18.435M ▲ $33.677M ▲ $-62.755M ▼ $11.899M ▲ $-17.179M ▼ $33.006M ▲
Q2-2025 $17.832M ▲ $28.09M ▲ $-3.883M ▲ $10.698M ▲ $34.905M ▲ $27.925M ▲
Q1-2025 $8.539M ▲ $22.324M ▲ $-51.541M ▼ $2.768M ▲ $-26.449M ▼ $22.225M ▲
Q4-2024 $-8.888M ▲ $18.77M ▲ $65.293M ▲ $2.142M ▼ $86.205M ▲ $18.577M ▲
Q3-2024 $-12.693M $-2.236M $-6.348M $6.689M $-1.895M $-2.236M

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Product
Product
 $200.00M ▲$140.00M ▼$160.00M ▲$180.00M ▲
Collaboration
Collaboration
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown steadily over the past few years, moving the company from a development-stage profile toward a true commercial business. Gross margins are high, which is typical for successful biotech products and suggests good pricing power on its lead therapy. Profitability has been uneven: there was a standout profitable year followed by only breakeven-to-small loss performance, hinting at one-time benefits and ongoing investment rather than stable earnings yet. Overall, the trend shows clear commercial traction but not yet a consistently profitable, mature earnings base.

Balance Sheet

Balance Sheet The balance sheet has strengthened meaningfully over time. Total assets and cash have both risen, while debt remains very low, which is unusual in a space where many peers rely heavily on borrowing. Shareholders’ equity moved from negative to clearly positive, signaling that past accumulated losses have been largely repaired and the capital structure is now much healthier. In simple terms, the company looks better capitalized and less fragile than it did a few years ago.

Cash Flow

Cash Flow Cash generation has improved from sizeable outflows to modest but positive free cash flow in recent years. Operating cash flow has turned positive, indicating that the core business can now roughly fund itself instead of relying entirely on external capital. Capital spending needs are minimal, which supports the transition to a more self-sustaining model. The main watchpoint is that cash surpluses are still relatively small, so any setback in sales or extra R&D push could quickly change the picture.

Competitive Edge

Competitive Edge Kiniksa occupies a specialized niche in inflammatory cardiovascular disease, anchored by ARCALYST as the first and only approved treatment for recurrent pericarditis. This first-mover status, backed by strong clinical data and long-dated patent and regulatory protection, creates a meaningful barrier for potential rivals. A focused commercial approach in a clearly defined patient population has helped build deep relationships with key physicians, which tends to be sticky over time. The flip side is concentration risk: dependence on a single flagship drug and a narrow disease area, plus partnership dynamics, leaves the company exposed if new competitors or alternative approaches emerge.

Innovation and R&D

Innovation and R&D The company’s research strategy is highly focused rather than broad, aiming to deepen its leadership around IL‑1–driven disease. The next-generation antibodies in development are designed mainly to improve convenience and dosing frequency versus the current product, which could help keep patients and physicians within the franchise over time. Earlier-stage assets targeting monthly or even quarterly injections show an emphasis on patient-friendly treatments, not just raw efficacy. Prior program shutdowns demonstrate discipline but also highlight the inherent risk and stop‑start nature of biotech R&D. Overall, the pipeline is coherent and tightly aligned with the existing commercial strength, but it is still relatively concentrated in one biology and disease area.

Summary

Kiniksa has successfully evolved from a pure R&D story into a commercial-stage biotech with a real revenue base and improving cash flows. Its main strength is a well-differentiated, high-margin product in a niche cardiovascular indication with limited direct competition and strong supporting data. Financially, the company has moved from deep losses and negative equity to a more balanced position with low debt, positive equity, and improving, though still modest, cash generation. The main risks center on product and pipeline concentration, the need to sustain growth from a single core franchise, and the usual clinical and regulatory uncertainties in bringing next-generation therapies to market. Overall, it is a focused, better-capitalized biotech with a clear niche, meaningful progress, and ongoing execution and diversification risks that remain important to watch.

NEWS

November 12, 2025 · 4:01 PM UTC

Kiniksa Pharmaceuticals to Present at Jefferies Global Healthcare Conference in London

Read more

October 28, 2025 · 7:30 AM UTC

Kiniksa Pharmaceuticals Reports Third Quarter 2025 Financial Results and Recent Portfolio Execution

Read more

October 23, 2025 · 4:01 PM UTC

Kiniksa Pharmaceuticals to Report Third Quarter 2025 Financial Results on October 28, 2025

Read more

October 17, 2025 · 8:00 AM UTC

Kiniksa Pharmaceuticals Announces U.S. Orphan Drug Designation for KPL-387 for the Treatment of Pericarditis

Read more