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Kiniksa Pharmaceuticals officer sells $194k in stock

Published 02/12/2024, 22:40
KNSA
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Michael R. Megna, Chief Accounting Officer of Kiniksa Pharmaceuticals (NASDAQ:KNSA) International, plc (NASDAQ:KNSA), a $1.58 billion market cap company currently trading at $21.85, recently executed a series of stock transactions, as reported in a recent SEC filing. According to InvestingPro analysis, the company maintains a GREAT financial health score. On November 27 and November 29, Megna sold a total of 8,646 Class A Ordinary Shares at an average price of $22.45 per share, amounting to approximately $194,102.

These sales were conducted under a 10b5-1 trading plan, which allows insiders to set up a predetermined schedule for selling stocks. The transactions were executed in multiple trades through a broker-dealer, with prices ranging between $22.45 and $22.465.

In addition to the sales, Megna also exercised options to acquire 8,646 shares at $11.10 per share, totaling around $95,970. Following these transactions, Megna holds 26,528 shares directly. For deeper insights into KNSA's financial health and additional ProTips, investors can access the comprehensive Research Report available on InvestingPro.

In other recent news, Kiniksa Pharmaceuticals reported a significant 73% year-over-year increase in ARCALYST net product revenue for Q3 2024, reaching $112.2 million. The company also raised its full-year ARCALYST net sales guidance to between $410 million and $420 million. Despite a net loss of $12.7 million for the quarter, Kiniksa Pharmaceuticals maintains a strong financial position with $223.8 million in cash reserves.

The company's disease awareness campaigns and commercial strategies are yielding results, with around 2,550 prescribers by Q3, many of whom are writing multiple prescriptions. The clinical pipeline, including ongoing trials for abiprubart in Sjögren's disease, remains a priority for Kiniksa Pharmaceuticals.

These recent developments highlight the company's robust performance and strategic focus on increasing disease awareness and diagnosis for recurrent pericarditis, as well as expanding the salesforce to enhance patient acquisition.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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