Does science change its face? The company’s stock soared following a strategic deal by Funder

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| Adam Cohen, FUNDER News |

The Dual Kamhada (TASE 🙂 share jumped 11.6% on Monday on the Tel Aviv Stock Exchange and by 7.5% on the Nasdaq, against the background of advertising. a million shekels.

In addition to the results of the third quarter, Kamhada (NASDAQ 🙂 also reported yesterday on the completion of a strategic deal – a deal that it says will change the company’s face, in which it acquired a portfolio of four FSA-approved commercial plasma-based antibodies from the US Food and Drug Administration.

According to the company,

“The acquisition promotes Kamhada’s strategy to become a vertical, unique plasma products company with strong commercial capabilities in the United States, and is an important step in positioning Kamhada as a world leader in the development, production and commercialization of plasma antibody preparations.”

The company reported that the transfer of GLASSIA’s production to Takeda has been completed and that the agreement between the companies is moving to the royalty phase starting in 2022. According to Kamhada, the completion of the transition frees up production capacity at the company’s plant, allowing absorption of new plasma products. The company also reported that it has continued to expand its plasma collection center recently acquired in the U.S., and that it continues to advance its plan to open additional U.S. plasma collection centers.

According to KamHada, the Phase 3 InnovAATe Phytobotene Clinical Trial of Alpha-1 Antitrypsin Inhalation for the Treatment of Alpha-1-Antitrypsin Deficiency Disease continues to progress according to plan, including positive feedback recently received from the trial safety committee meeting.

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Kamhada, whose shares are listed on the Nasdaq and Tel Aviv stock exchanges, is a biopharmaceutical company specializing in plasma-based products. The company’s reports show that they amounted to $ 23 million, and in the first nine months of the year amounted to $ 72.2 million.

According to Amir London, CEO of KamHada,

“As our business continues to grow as expected during 2021, we look forward to the realization of the company’s significant potential growth engines. We are pleased to report at the same time on our new and important growth engine in the strategic acquisition of four By the FDA from Saol Therapeutics. Following this acquisition, KamHada strengthens its global leadership in the unique plasma-based antibody preparations market. 20% of revenue came from sales in the U.S. and Canada, respectively.

| Kamahada’s financial highlights for the three months ended September 30:

  • Total revenue was approximately $ 23.0 million in the third quarter of 2021, compared to approximately $ 35.3 million in the third quarter of 2020.
  • Gross profit was about $ 5.7 million in the third quarter of 2021, compared to about $ 14.8 million in the third quarter of 2020.
  • The net loss was about $ 0.8 million, or (0.02) $ per share, in the third quarter of 2021, compared to a net profit of about $ 6.8 million, or $ 0.15 per share, in the third quarter of 2020.
  • Adjusted EBITDA, as detailed in the tables below, amounted to approximately $ 0.6 million in the third quarter of 2021, compared to approximately $ 9.3 million in the third quarter of 2020.
  • Cash flow from operating activities amounted to approximately $ 2.7 million in the third quarter of 2021, compared to cash flow from operating activities of approximately $ 2.4 million in the third quarter of 2020.
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| Financial highlights for the nine months ended September 30:

  • Total revenue was approximately $ 72.2 million in the first nine months of 2021, compared to approximately $ 101.7 million in the first nine months of 2020.
  • Gross profit was about $ 23.7 million in the first nine months of 2021, compared to about $ 37.4 million in the first nine months of 2020.
  • In connection with the transfer of GLASSIA’s production to Takeda, during the second and third quarters of 2021, Kamhada completed the workforce reduction move and recorded a one-time expense of approximately $ 0.6 million related to increased severance pay for employees fired as part of the process. The reduction process is expected to reduce the company’s annual salary costs by about 10%.
  • Net income was approximately $ 2.8 million, or $ 0.06 per share, in the first nine months of 2021, compared to net income of approximately $ 15.2 million, or $ 0.35 per share, in the first nine months of 2020.
  • Adjusted EBITDA, as shown in the tables below, amounted to approximately $ 6.7 million in the first nine months of 2021, compared to approximately $ 21.1 million in the first nine months of 2020. Adjusted EBITDA in the first nine months of 2021, less one-time severance expenses, amounted to About $ 7.3 million.
  • Cash flow from operating activities amounted to approximately $ 3.9 million in the first nine months of 2021, compared to cash flow from operating activities of approximately $ 6.4 million in the first nine months of 2020.

| Balance Sheet Accounts:

As of September 30, 2021, the Company had cash, cash equivalents and short-term investments of $ 99.8 million, compared to $ 109.3 million as of December 31, 2020. The Company’s working capital as of September 30, 2021 includes current assets (without cash, Value of cash and short-term investments), less current liabilities, increased by $ 8.1 million to $ 52.5 million.

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– The article was first published on the FUNDER website.

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