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On March 12, Mark Ragosa, the Chief Financial Officer of Kiniksa Pharmaceuticals International, plc (NASDAQ:KNSA), a biopharmaceutical company with strong financial health according to InvestingPro metrics, executed a significant stock transaction, selling 36,372 Class A Ordinary Shares. The shares were sold at a weighted average price of $22.25, totaling approximately $809,277. This sale was part of a pre-established 10b5-1 trading plan. The transaction occurs as Kiniksa demonstrates robust revenue growth of 56.6% and maintains a healthy balance sheet with more cash than debt.
In addition to the sale, Ragosa also exercised options to acquire 36,372 shares at $11.97 each, totaling around $435,372. Following these transactions, Ragosa retains ownership of 22,958 shares directly. The transactions reflect strategic financial maneuvers within the framework of the company’s stock compensation plans. With analysts projecting profitability this year and setting price targets between $30 and $40, InvestingPro subscribers can access detailed insider trading analysis and 5 additional exclusive ProTips about KNSA’s financial outlook.
In other recent news, Kiniksa Pharmaceuticals reported a significant increase in revenue for fiscal year 2024, with Arcalyst generating $416.4 million. This marks a 79% increase compared to the previous year and surpasses the consensus estimates from Goldman Sachs and Visible Alpha. Looking ahead, Kiniksa has projected Arcalyst revenue for fiscal year 2025 to be between $560 million and $580 million, which exceeds Goldman Sachs’s forecast. Goldman Sachs has maintained its Buy rating for Kiniksa, citing strong commercial execution and confidence in the company’s strategy.
Additionally, Kiniksa announced plans to initiate a Phase 2/3 clinical trial for KPL-387, a treatment for recurrent pericarditis, expected to begin in mid-2025. This development follows interactions with the FDA and aims to build on the success of Arcalyst. Kiniksa’s focus continues to be on diseases with significant unmet needs, particularly in the cardiovascular space. The company has also decided to discontinue the development of abiprubart for Sjögren’s Disease. These recent developments highlight Kiniksa’s ongoing efforts to expand its treatment options and maintain strong revenue growth.
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