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Kadmon Holdings, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2021 10-Q, filed Nov 4, 2021. Its latest SEC filing is a SC 13G/A from Feb 14, 2022.

The sections below describe the company as of the FY2020 annual report.

What Did They Do?

Develops drug candidates for immune and fibrotic diseases and cancer, and sells CLOVIQUE through specialty pharmacies and distributors.

How Did They Make Money?

CLOVIQUE buyers pay within 30 days of shipment; license partners pay under contract schedules, including upfront fees and milestone or other contingent payments; sublease revenue comes from services as they are provided.

revenue
SegmentShareRevenue
Net Sales
Sold outright

20%
FY2017: 43%
License Revenue
Licensed

72%
Other Revenue
Recurring
7.5%

Who Were Their Customers?

Kadmon planned a direct U.S. commercial effort aimed at treating specialists and payors for belumosudil, with products distributed through independent specialty pharmacies and distributors.

Did Revenues Turn Into Profits?

No. It lost $108.9M in FY2020.

Operating income, FY2020
−1234% of revenue
▼ −15% (Loss) vs FY2019 (−$89.1M, −1748%)
Net income, FY2020
−1314% of revenue
▼ −77% (Loss) vs FY2019 (−$61.4M, −1204%)
Free cash flow, FY2020
−1061% of revenue
▼ −9% (Loss) vs FY2019 (−$80.6M, −1582%)

How Were They Changing?

Since the FY2020 annual report
Latest quarter: Q3 FY2021, the three months to Sep 30, 2021
Revenue
▲ +2901%
vs $490K in Q3 FY2020
Net income
▼ −34% (Loss)
vs −$24.6M in Q3 FY2020
  • Nov 9, 2021 Sanofi completed its acquisition of Kadmon Kadmon became an indirect, wholly owned Sanofi subsidiary; common shareholders received $9.50 per share in cash.
  • Jul 19, 2021 FDA approved REZUROCK for chronic graft-versus-host disease Approval covers adults and children 12 years and older after at least two prior treatment lines.

Shrank. Revenue fell 68% in 4 years, from $26.1M in FY2016 to $8.3M in FY2020, about 25% a year.

Commercial product sales The earlier report described trientine hydrochloride formulations as candidates awaiting approval; the latest report says CLOVIQUE sales generated revenue.

Revenue over time
Net Sales License Revenue Other Revenue License and Other Revenue
$50M$25M$0

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