The following is a summary of the Knight Therapeutics Inc. (KHTRF) Q4 2023 Earnings Call Transcript:
Financial Performance:
Knight Therapeutics reported record revenues of $343 million in 2023, up by 18% compared to the prior year.
Q4 2023 revenues were over $88 million, a 5% increase year-over-year.
The company's adjusted EBITDA for 2023 was over $60 million, a growth of 11% from last year, representing about 18% of revenues.
Adjusted EBITDA per share was $0.59, a 23% increase year-over-year.
In the disease portfolio, oncology and hematology fetched $122.7 million, marking a 16% increase from last year, while infectious disease portfolio saw a 21% increase, delivering $141 million.
Knight also bought back 11.1 million common shares for over $53 million.
Business Progress:
Knight Therapeutics made significant headway in its product pipeline in 2023, with regulatory filings for five products and approvals in certain territories. Two products were launched in Canada, two in Brazil, and one in Argentina.
In 2023, the company invested $2.5 million in nine pipeline products, which was an increase from the previous year.
New in-licensed products for 2024 include Qelbree (Canada) and IPX203 (Canada and Latin America) for ADHD and Parkinson's disease treatment respectively, and a branded generic molecule in oncology hematology for Brazil.
For 2024, the company projects revenues between $335 million to $350 million and adjusted EBITDA of approximately 17% of total revenues.
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