LONDON—Tessari Eben, the Chief Operating Officer of Kiniksa Pharmaceuticals (NASDAQ:KNSA) International, plc (NASDAQ:KNSA), a $1.46 billion market cap company with strong financial health according to InvestingPro analysis, executed a series of transactions involving the company's Class A Ordinary Shares on December 16, 2024. According to a recent filing, Eben sold 23,017 shares at an average price of $20.44 per share, amounting to a total transaction value of approximately $470,467.
The sales were conducted under a 10b5-1 trading plan, a pre-established arrangement that allows insiders to trade a predetermined number of shares at a set time. The shares were sold in multiple trades through a broker-dealer, with prices ranging between $20.09 and $20.89. Despite impressive revenue growth of 54% over the last twelve months, InvestingPro data indicates analysts expect declining net income this year.
In addition to the sales, Eben also acquired 16,017 shares through the exercise of share options at a price of $1.59 per share, resulting in a total transaction value of $25,467. Following these transactions, Eben holds 95,975 shares of Kiniksa Pharmaceuticals.
These transactions reflect Eben's ongoing management of his holdings in the company, as he continues his role as COO.
In other recent news, Kiniksa Pharmaceuticals reported a significant increase in its third-quarter earnings for 2024. The company's ARCALYST net product revenue reached $112.2 million, reflecting a 73% year-over-year growth. In light of this impressive performance, Kiniksa has adjusted 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, the company's financial position is solid with $223.8 million in cash reserves.
Kiniksa's efforts to raise disease awareness and expand prescriber adoption have yielded positive results, with about 2,550 prescribers by the third quarter, many of whom are writing multiple prescriptions. The company's clinical pipeline remains a priority, with ongoing trials for the treatment of Sjögren's disease using abiprubart. These are some of the recent developments shaping the trajectory of Kiniksa Pharmaceuticals.
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