Kiniksa hits over 2-year high on upbeat Arcalyst sales outlook

Kiniksa Pharmaceuticals International

25/07/2023 16:32

** Shares of biopharmaceutical co Kiniksa Pharmaceuticals
Ltd  KNSA.O  rise 27% to $19, their highest over two years
    ** Co raises 2023 sales forecast for its medication Arcalyst
to between $220 mln and $230 mln vs previous outlook of $200 mln
to $215 mln
    ** Arcalyst is used for treatment of recurrent pericarditis,
an auto-inflammatory syndrome related to the sac surrounding the
heart
    ** Says continues to enroll patients in a mid-stage trial to
study its drug, KPL-404, in rheumatoid arthritis; expects data
in first half of 2024
    ** Also posts a surprise profit for the second quarter; adj.
EPS 21 cents vs estimates of a loss of 17 cents per share,
according to estimates compiled by four analysts- Refinitiv IBES
    ** Stock up 23.97% YTD

 (Reporting by Sruthi Narasimha Chari in Bengaluru)
 ((Sruthinarasimha.chari@thomsonreuters.com))