Kiniksa Pharmaceuticals Reports Second Quarter 2023 Financial Results and Recent Portfolio Execution

About this update from Kiniksa Pharmaceuticals International, Plc

[{"type":"text","content":"– ARCALYST® (rilonacept) Q2 2023 net product revenue of $54.5 million –– ARCALYST 2023 net product revenue guidance increased to $220 - $230 million, representing ~84% year-over-year growth at the midpoint –– KPL-404 Phase 2 rheumatoid arthritis data expected in 1H 2024 –– Cash reserves now expected to fund operations into at least 2027 –– Conference call and webcast scheduled for 8:30 am ET today – HAMILTON, Bermuda, July 25, 2023 (GLOBE NEWSWIRE) -- Kiniksa Pharmaceuticals, Ltd. (Nasdaq: KNSA) (Kiniksa), a biopharmaceutical company with a pipeline of immune-modulating assets designed to target a spectrum of cardiovascular and autoimmune diseases, today reported second quarter 2023 financial results and recent portfolio execution. “Kiniksa continues to make significant progress in bringing ARCALYST, the first and only FDA-approved therapy for recurrent pericarditis, to patients in need. As a result of increased call frequency and expanded reach with target prescribers, we are seeing increased prescriber adoption and patient enrollments. We are still in the early stages of building the recurrent pericarditis market and remain encouraged by the high level of patient satisfaction, payer approval rates, and duration of therapy. These key metrics provide conviction in raising our 2023 ARCALYST sales guidance to between $220 million and $230 million,” said Sanj K. Patel, Chairman and Chief Executive Officer of Kiniksa. “Within our pipeline, we continue to enroll patients in the KPL-404 Phase 2 trial in rheumatoid arthritis and expect data in the first half of 2024. Additionally, we have a strong financial position and our cash reserves, combined with our continued ARCALYST commercial execution and financial discipline, now provide cash runway into at least 2027.” Portfolio and Collaboration ExecutionARCALYST (IL-1α and IL-1β cytokine trap) ARCALYST net product revenue was $54.5 million for the second quarter of 2023.Since launch, more than 1,250 prescribers have written ARCALYST prescriptions for recurrent pericarditis.As of the end of the second quarter of 2023, average total duration of ARCALYST therapy in recurrent pericarditis was approximately 20 months. Average total duration of therapy includes the approximately 45% of patients who restarted ARCALYST, within an average of 8 weeks, after having discontinued therapy. KPL-404 (mo...

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