$KNSA
Kiniksa Pharmaceuticals Ltd

2021 Q1 Form 10-Q Financial Statement

#000155837021006256 Filed on May 06, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $20.60M $9.290M
YoY Change 121.74% 10.73%
% of Gross Profit
Research & Development $28.68M $20.90M
YoY Change 37.23% -64.72%
% of Gross Profit
Depreciation & Amortization $290.0K $594.0K
YoY Change -51.18% 26.38%
% of Gross Profit
Operating Expenses $49.28M $29.39M
YoY Change 67.7% -56.56%
Operating Profit -$49.28M -$29.39M
YoY Change 67.7%
Interest Expense $10.00K $790.0K
YoY Change -98.73% -56.35%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$49.27M -$28.60M
YoY Change 72.3% -56.56%
Income Tax $210.0K -$2.179M
% Of Pretax Income
Net Earnings -$49.48M -$26.42M
YoY Change 87.3% -59.86%
Net Earnings / Revenue
Basic Earnings Per Share -$0.72
Diluted Earnings Per Share -$0.72 -$477.6K
COMMON SHARES
Basic Shares Outstanding 68.27M
Diluted Shares Outstanding 68.27M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $264.0M $204.2M
YoY Change 29.29% -37.46%
Cash & Equivalents $119.9M $106.5M
Short-Term Investments $144.2M $97.90M
Other Short-Term Assets $9.300M $8.800M
YoY Change 5.68% 4.76%
Inventory $2.189M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $275.6M $213.1M
YoY Change 29.31% -36.39%
LONG-TERM ASSETS
Property, Plant & Equipment $3.815M $7.400M
YoY Change -48.45% -22.11%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.797M $5.600M
YoY Change 3.52% 229.41%
Total Long-Term Assets $35.59M $13.00M
YoY Change 173.8% 16.07%
TOTAL ASSETS
Total Short-Term Assets $275.6M $213.1M
Total Long-Term Assets $35.59M $13.00M
Total Assets $311.2M $226.1M
YoY Change 37.62% -34.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.763M $4.300M
YoY Change -35.74% -37.68%
Accrued Expenses $30.32M $15.10M
YoY Change 100.77% -49.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $35.45M $19.30M
YoY Change 83.69% -47.7%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $809.0K $900.0K
YoY Change -10.11% -66.67%
Total Long-Term Liabilities $809.0K $900.0K
YoY Change -10.11% -66.67%
TOTAL LIABILITIES
Total Short-Term Liabilities $35.45M $19.30M
Total Long-Term Liabilities $809.0K $900.0K
Total Liabilities $40.46M $20.30M
YoY Change 99.32% -48.74%
SHAREHOLDERS EQUITY
Retained Earnings -$567.0M
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $270.7M $205.8M
YoY Change
Total Liabilities & Shareholders Equity $311.2M $226.1M
YoY Change 37.62% -34.69%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income -$49.48M -$26.42M
YoY Change 87.3% -59.86%
Depreciation, Depletion And Amortization $290.0K $594.0K
YoY Change -51.18% 26.38%
Cash From Operating Activities -$40.12M -$31.80M
YoY Change 26.19% -49.74%
INVESTING ACTIVITIES
Capital Expenditures $54.00K $223.0K
YoY Change -75.78% -114.29%
Acquisitions
YoY Change
Other Investing Activities $64.89M $89.01M
YoY Change -27.1% -1252.98%
Cash From Investing Activities $44.83M $88.79M
YoY Change -49.51% -1056.79%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.106M 2.414M
YoY Change -54.18% -97.1%
NET CHANGE
Cash From Operating Activities -40.12M -31.80M
Cash From Investing Activities 44.83M 88.79M
Cash From Financing Activities 1.106M 2.414M
Net Change In Cash 5.818M 59.41M
YoY Change -90.21% 457.82%
FREE CASH FLOW
Cash From Operating Activities -$40.12M -$31.80M
Capital Expenditures $54.00K $223.0K
Free Cash Flow -$40.18M -$32.02M
YoY Change 25.48% -48.11%

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt;">The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of expenses during the reporting period. Significant estimates and assumptions reflected in these consolidated financial statements include, but are not limited to, the accrual for research and development expenses and the valuation of share-based awards. Estimates are periodically reviewed in light of changes in circumstances, facts and experience. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">Changes in estimates are recorded in the period in which they become known. Actual results could differ from those estimates.</p>
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CY2021Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;">Concentrations of Credit Risk</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash, cash equivalents and short-term investments. At March 31, 2021 and December 31, 2020, substantially all of the Company’s cash, cash equivalents and short-term investments were held at two financial institutions. The Company generally maintains balances in various operating accounts at financial institutions that management believes to be of high credit quality, in amounts that may exceed federally insured limits. The Company has not experienced any losses related to its cash, cash equivalents and short-term investments and does not believe that it is subject to unusual credit risk beyond the normal credit risk associated with commercial banking relationships.</p>
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20000000
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0
CY2021Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0
CY2021Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0
CY2021Q1 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2020Q4 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2021Q1 knsa Number Of Securities Unrealized Loss Position
NumberOfSecuritiesUnrealizedLossPosition
7
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
28999000
CY2020 knsa Number Of Securities Unrealized Loss Position
NumberOfSecuritiesUnrealizedLossPosition
17
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
107753000
CY2020Q4 us-gaap Inventory Net
InventoryNet
0
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2189000
CY2021Q1 us-gaap Inventory Net
InventoryNet
2189000
CY2021Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8835000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
8781000
CY2021Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5020000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4730000
CY2021Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3815000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4051000
CY2021Q1 us-gaap Depreciation
Depreciation
290000
CY2020Q1 us-gaap Depreciation
Depreciation
594000
CY2020Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
0
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
750000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
1000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
1000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
1000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
1000000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
14250000
CY2021Q1 knsa Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
20038000
CY2020Q4 knsa Accrued Research And Development Expenses Current
AccruedResearchAndDevelopmentExpensesCurrent
16945000
CY2021Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7130000
CY2020Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7704000
CY2021Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
2857000
CY2020Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
3988000
CY2021Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
291000
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
562000
CY2021Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
30316000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
29199000
CY2021Q1 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
0
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0098
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0082
CY2021Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P6Y3M
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7726
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.7983
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
7126000
CY2020Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
4209000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
20000000
CY2021Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
2189000
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
-49484000
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-26419000
CY2021Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
68269486
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
55322690
CY2021Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.72
CY2020Q1 us-gaap Earnings Per Share Basic And Diluted
EarningsPerShareBasicAndDiluted
-0.48
CY2021Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10939018
CY2020Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
9292915
CY2020Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0
CY2020Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0
CY2021Q1 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
0
CY2020Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0
CY2021Q1 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
0
CY2021Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0
CY2021Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
210000
CY2020Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
-2179000
CY2021Q1 us-gaap Purchase Commitment Remaining Minimum Amount Committed
PurchaseCommitmentRemainingMinimumAmountCommitted
17091000

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