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MONTREAL - Knight Therapeutics Inc. (TSX: GUD), a specialty pharmaceutical company with a market capitalization of $420 million and an impressive perfect Piotroski Score of 9 according to InvestingPro, has announced the launch of its drug Minjuvi® (tafasitamab) in Mexico for the treatment of adult patients with relapsed or refractory diffuse large B-cell lymphoma (DLBCL), an aggressive subtype of non-Hodgkin lymphoma. The launch was conducted by its Mexican affiliate, Grupo Biotoscana de Especialidad S.A. de C.V.
Minjuvi®, in combination with lenalidomide, followed by monotherapy, is aimed at patients ineligible for autologous stem cell transplantation (ASCT). The approval of Minjuvi® in Mexico was based on the L-MIND trial, which showed an objective response rate of 60% and a complete response rate of 43%. The company’s strong financial position, with a current ratio of 3.57 and more cash than debt on its balance sheet, positions it well for this commercial expansion.
Dr. Luis Mario Villela, a distinguished hematologist in Mexico, highlighted the significance of Minjuvi® for patients who have relapsed after first-line therapy and are not candidates for transplantation, noting the chemo-free regimen’s manageable toxicity profile.
The National Comprehensive Cancer Network (NCCN) Guidelines for 2025 list Minjuvi® as a preferred second-line treatment for this patient population. Knight Therapeutics’ President and CEO, Samira Sakhia, expressed enthusiasm for the product’s launch in Mexico and the company’s plans to introduce it to additional Latin American markets.
In September 2021, Knight Therapeutics entered into a supply and distribution agreement with Incyte (NASDAQ: INCY) for the exclusive rights to distribute tafasitamab in Latin America. The Mexican health regulatory agency, COFEPRIS, granted Minjuvi® regulatory approval in October 2024.
Tafasitamab is a humanized Fc-modified cytolytic CD19 targeting monoclonal antibody, licensed by MorphoSys from Xencor, Inc. The drug has received accelerated approval by the U.S. Food and Drug Administration and conditional Marketing Authorization from the European Medicines Agency for its use in combination with lenalidomide for the treatment of DLBCL.
This news article is based on a press release statement from Knight Therapeutics Inc. and aims to provide investors with key information regarding the launch of Minjuvi® in Mexico. The company has demonstrated solid performance with 13% revenue growth in the last twelve months and maintains a "GREAT" financial health score according to InvestingPro, which offers 12 additional valuable insights about Knight Therapeutics through its comprehensive Pro Research Report, available to subscribers.
In other recent news, Knight Therapeutics reported record revenues for 2024, achieving $365 million, which represents a 6% increase from the previous year. The company’s fourth-quarter revenue also rose by 6% year-over-year, reaching $94 million. Despite the revenue growth, Knight Therapeutics experienced a 4% decline in adjusted EBITDA, totaling $57.8 million for the year. The company continues to expand its product portfolio, with recent launches and licensing agreements contributing to its growth. Notably, Knight Therapeutics anticipates the closure of the Paladin transaction by mid-2025, which is expected to further enhance its Canadian business. Analyst firms have not provided any recent upgrades or downgrades for Knight Therapeutics. The company projects 2025 revenues to fall between $390 million and $450 million, with an expected adjusted EBITDA of approximately 13% of revenues.
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