The following is a summary of the Knight Therapeutics Inc. (KHTRF) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Q3 revenue reached $91 million, a 12% increase year-over-year, with a constant currency basis increase of 18%.

• Adjusted EBITDA was $13.5 million, down 13% from the previous year, with adjusted EBITDA per share at $0.13, a decrease of 10%.

• Gross margin was reported at 47%, down from 52% the previous year, primarily due to product mix, including a higher proportion of AmBisome sales to the Ministry of Health.

• Operating expenses excluding amortization of non-current assets increased by 11% to $30.5 million, driven by marketing spends for new product launches and increases in R&D and G&A costs.

Business Progress:

• Launched NCIB, purchasing 437,500 common shares at an average price of $5.65.

• Advanced the pipeline with regulatory approval of Minjuvi in Mexico, expecting launch in first half of 2025.

• Delivered record nine-month revenues of over $271 million and adjusted EBITDA of over $42 million, driven by promoted portfolio growth and recent product launches in Canada and Brazil.

Opportunities:

• Continue to drive growth through Knight's innovative promoted portfolio, including recent launches and expected regulatory approvals, targeting a combined potential revenue of over $150 million.

Risks:

• Market and currency fluctuations impacting revenue growth and profitability, particularly noted in currency depreciation from Q1 to Q3 2024 affecting LatAm financial results.

• Potential generic entry for Lenvima leading to a gradual revenue decline over several years.

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