The following is a summary of the Knight Therapeutics, Inc. (KHTRF) Q1 2024 Earnings Call Transcript:
Financial Performance:
Knight Therapeutics reported Q1 2024 revenues of over $85 million, a growth of $3 million or 4% over the same period in the previous year.
The company's infectious disease portfolio contributed to $38 million of revenues, a rise of 23% compared to Q1 2023.
Gross margin was reported at $40.7 million or 47% of revenues.
They recorded a net loss of approximately $16 million, driven by unrealized losses on the valuation of certain private investments.
Cash flows from operations were $30.8 million.
Business Progress:
Knight launched three products and advanced their pipeline with regulatory submission for fostamatinib in Brazil and the approval of Karfib in Colombia.
By the end of Q1 2024, the company had nine products under regulatory review in various countries.
The company added two products, IPX203 and JORNAY PM, for Canada and Latin America within the year.
Knight has entered into an exclusive supply and distribution agreement for JORNAY PM for Canada and Latin America.
They continue to execute on their strategy of leveraging their unique platform to in-license and acquire innovative products for Canada and Latin America.
More details: KNIGHT THERAPEUTICS INC IR
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