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Kiniksa Pharmaceuticals International, plc
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NASDAQ: KNSA Healthcare Pharma 🔎 Screen
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$5.9B
Market Cap
55.0
P/E
—
PEG
27.9%
ROCE
11.7%
ROE
0.02
D/E
11.4%
OPM
-1.4%
% from 52W High
93
α RS
🔍 KNSA is showing a multi-screen setup because it matches 9 of 39 tracked screener presets, RS Rating is 93 (top decile vs market), an ECS of 66.8 last quarter, and it has maintained a 20-day Near 52-Week High momentum persistence. The main caution: the Coffee Can preset's Backtest win rate is only 49.1%. Net: Mixed signal stack, not a recommendation. ? Conviction RS Rating ECS Momentum Streaks Backtest
Sources
Conviction 9/39 · RS Rating 93 · ECS 66.8 · Near 52-Week High streak: 20d · Backtest win rate 49.1%
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Ratio Health
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About

Kiniksa Pharmaceuticals International, plc, a biopharmaceutical company, develops and commercializes medical therapies in the United States, the United Kingdom, and internationally. The company offers ARCALYST, an interleukin-1alpha and 1beta cytokine trap for the treatment of recurrent pericarditis, a chronic autoinflammatory cardiovascular disease and cardiac sarcoidosis. It also develops KPL-387, an investigational and fully human immunoglobulin G2 monoclonal antibody, which is Phase 2/3 clinical trial for the treatment of recurrent pericarditis; and KPL-116, a Fc-modified immunoglobulin G2 monoclonal antibody, which is in pre-clinical stage. The company was formerly known as Kiniksa Pharmaceuticals, Ltd. and changed its name to Kiniksa Pharmaceuticals International, plc in June 2024. Kiniksa Pharmaceuticals International, plc was incorporated in 2015 and is based in London, the United Kingdom.

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📊 MIXED Kiniksa Q1 2026: ARCALYST revenue $214.3M, raised FY2026 guidance to $930-945M
Revenue & Profitability
ARCALYST net revenue was $214.3 million in Q1 2026, up 56% year-over-year from Q1 2025. Net income was $22.6 million, compared to $8.5 million in Q1 2025. Collaboration profit (ARCALYST) grew 73% year-over-year to $151.2 million. The company ended Q1 with $468.1 million in cash, generating $54 million of net cash during the quarter. Full-year 2026 revenue guidance was raised to $930-945 million from $900-920 million.
Outlook
Management sees expanding adoption of ARCALYST among the approximately 40,000 US patients per year with recurrent pericarditis flares. The 2025 ACC Concise Clinical Guidance recommends IL-1 inhibition prior to corticosteroids, supporting earlier use. Industry-wide seasonal headwinds (co-pay resets, insurance plan changes) were noted but offset by strong underlying commercial metrics.
Growth Drivers
Growth is driven by acceleration in new prescribers (400 in Q1, the highest quarterly increase since launch) and new patient enrollments (also the highest ever). Approximately 20% of prescriptions are now in first-recurrence patients. The Heart's Home DTC campaign uses digital AI targeting to reach the 86% of patients unaware of ARCALYST, and when a patient asks, prescribers write it in about 80% of cases.
Balance Sheet & CapEx
Not discussed in this earnings call.
Margins
Gross-to-net improved year-over-year in Q1 due to enhancements to the copay assistance program, reducing average payout per patient. Collaboration profit grew faster than revenue (73% vs 56%), indicating operating leverage. Operating expenses increased with revenue growth, but net income rose significantly. R&D as a percentage of sales remained consistent, and the company remains cash flow positive on an annual basis.
Key Risks
Risks include industry-wide seasonal headwinds (co-pay resets, insurance plan changes) that impact gross-to-net. Only 14% of recurrent pericarditis patients have unaided awareness of ARCALYST, creating a significant awareness gap. The business is heavily dependent on a single product (ARCALYST) and pipeline programs are still in clinical development.
Generated by AI · Q1 2026 results · Not investment advice
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✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter
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📞 Earnings Call Transcripts (5)
Q2 2026 Q2 2026 2026-07-28
Q2 2026 saw ARCALYST revenue surge 55% year-over-year to $243.6 million, driving a guidance raise to $980–995 million for the year. The pivotal phase III trial for KPL-387 began enrollment, supported by strong phase II data, while cash reserves grew to $525.9 million.
Q1 2026 Q1 2026 2026-04-28
Q1 2026 saw ARCALYST revenue rise 56% year-over-year to $214.3M, driving net income to $22.6M and prompting a raised full-year revenue outlook. Strong commercial execution, new prescriber growth, and targeted DTC campaigns support continued momentum.
Q4 2025 Q4 2025 2026-02-24
ARCALYST revenue surged 62% year-over-year to $677.6 million in 2025, with net income turning positive and strong cash generation. Pipeline progress continues with KPL-387 and KPL-1161, and 2026 revenue guidance is set at $900–$920 million.
Q3 2025 Q3 2025 2025-10-28
Q3 2025 saw ARCALYST revenue surge 61% year-over-year to $180.9 million, driving a net income of $18.4 million and prompting a raised full-year sales guidance to $670–$675 million. Market adoption and prescriber growth remain strong, with KPL-387 advancing in development.
Q2 2025 Q2 2025 2025-07-29
Q2 net revenue rose 52% year-over-year to $156.8 million, driven by ARCALYST's strong commercial performance and expanded prescriber base. 2025 sales guidance was raised to $625–$640 million, and the KPL-387 Phase 2/3 trial is underway with data expected next year.
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Financial Model
Projections are built from each company's audited annual financials (Income Statement, Balance Sheet, Cash Flow) over the last 5 fiscal years. Forward assumptions — revenue growth %, EBITDA margin, D&A (USD millions), interest expense, tax rate, and capex — are AI-generated using historical context and refreshed twice a year: after the December results season and after the September/Q4 results season.

DCF Valuation
Fair Value = Σ(FCFt / (1+WACC)t) + Terminal Value. Terminal Value uses the Gordon Growth Model: FCF5 × (1+g) / (WACC−g). Default WACC: 10% (US risk-free ~4.5%, equity risk premium ~5.5%). Default terminal growth: 3% (long-run US nominal GDP proxy).

CAGR Tracker
Expected 5-year CAGR = (DCF Fair Value / Current Price)1/5 − 1. Assumes fair value is reached in exactly 5 years — a mechanical estimate only.

Data Sources & Limitations
Financial statements sourced from public filings. Prices updated daily. Forward assumptions are AI-generated. All monetary values in USD millions. Non-US ADR companies may have currency conversion inaccuracies. Models are point-in-time and do not update intra-quarter or account for M&A, macro shocks, or extraordinary items.

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Investment Risk:
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No Investment Recommendation:
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Information Sources:
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