KAMADA LTD
KMDA evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for KMDA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · KMDA
Kamada Ltd. is a biopharmaceutical company focused on plasma-derived and specialty products for rare and serious conditions, with marketed products including KEDRAB, GLASSIA, and CYTOGAM, and a pipeline candidate in inhaled AAT for Alpha-1 Antitrypsin Deficiency.
Key risk: Product concentration risk
BioSniper Score
Based on 2 of 6 signals
Limited data coverage
Market Cap
$478.3M
Cash Runway
—
Lead Asset
—
Next Catalyst
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Financial data as of Dec 31, 2025.
Tracking 2 clinical trials for KAMADA LTD.
Kamada Ltd. is a biopharmaceutical company focused on plasma-derived and specialty products for rare and serious conditions, with marketed products including KEDRAB, GLASSIA, and CYTOGAM, and a pipeline candidate in inhaled AAT for Alpha-1 Antitrypsin Deficiency.
- Kamada reported total revenue of $44.7 million and net income of $3.6 million for the year ended December 31, 2025 [sec].
- The company's business is highly concentrated on three leading products: KEDRAB, GLASSIA, and CYTOGAM, with a significant portion of revenue historically derived from GLASSIA royalty income from Takeda [sec · filed 2026-03-11].
- Kamada is actively seeking new business development, in-licensing, and/or M&A opportunities to enhance its marketed products portfolio and leverage its commercial infrastructure [sec · filed 2026-03-11].
- The company is expanding its plasma collection operations, with two centers in Texas and plans for a third center in San Antonio [sec · filed 2025-03-05].
- Kamada's leading investigational product is Inhaled AAT for Alpha-1 Antitrypsin Deficiency, for which it is continuing to progress a Phase 3 pivotal study [sec · filed 2025-03-05].
What works
- Kamada has a portfolio of approved proprietary products (KEDRAB, GLASSIA, CYTOGAM) that generate recurring revenue and are supported by a commercial infrastructure in the U.S. and ex-U.S. markets [sec · filed 2026-03-11].
- The company is pursuing strategic business development and M&A to acquire or in-license commercial products, potentially diversifying its offerings and revenue streams [sec · filed 2026-03-11].
- Kamada is expanding its plasma collection operations to support revenue growth through normal source plasma sales and to meet internal demand for hyper-immune plasma [sec · filed 2025-03-05].
What to weigh
- Kamada's business is highly concentrated on three products (KEDRAB, GLASSIA, CYTOGAM), and any adverse market event affecting these products could materially impact financial condition [sec · filed 2026-03-11].
- A significant portion of historical revenue has been driven by GLASSIA royalty income from Takeda, creating dependency on a single partner and product [sec · filed 2026-03-11].
- The company expects to continue incurring research and development expenses for clinical trials, which may pressure profitability if pipeline candidates do not succeed [sec · filed 2026-03-11].
From the filings
Quoted directly from source documents.
Business concentration on three leading products
“Our business is currently highly concentrated on our three leading products, KEDRAB, GLASSIA and CYTOGAM.”
SEC filings · March 11, 2026
Strategic focus on M&A and in-licensing
“We are actively seeking new business development, in-licensing and/or M&A opportunities in 2025.”
SEC filings · March 5, 2025
Pipeline candidate Inhaled AAT
“Our leading investigational product is Inhaled AAT for AATD, for which we are continuing to progress the InnovA”
SEC filings · March 5, 2025
Risks & what to watch (3)›
Key risks
- Product concentration risk — Revenue heavily depends on KEDRAB, GLASSIA, and CYTOGAM; adverse events for any could materially harm financials [sec · filed 2026-03-11].
- Dependence on Takeda royalty — Significant historical revenue from GLASSIA royalties paid by Takeda; loss of this income would impact results [sec · filed 2026-03-11].
- Clinical trial expenses — Ongoing R&D for pipeline candidates like Inhaled AAT will continue to incur costs without guaranteed success [sec · filed 2026-03-11].
What to watch
- Progress of the Inhaled AAT Phase 3 pivotal study for Alpha-1 Antitrypsin Deficiency [sec · filed 2025-03-05].
- Execution of new business development, in-licensing, or M&A transactions to diversify product portfolio [sec · filed 2026-03-11].
- Expansion of plasma collection operations and impact on revenue from normal source plasma sales [sec · filed 2025-03-05].
- Sustainability of revenue growth and profitability given product concentration and royalty dependence [sec · filed 2026-03-11].
Sources: SEC filings · Generated August 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 2 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
Profitable (positive operating cash flow)
D/E 0.41
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
No insider transactions in the last 180 days
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
39
Total value held
$511.9M
| Holder | Shares | Value |
|---|---|---|
| wells fargo & company/mn | 597,236 | $493.5M |
| renaissance technologies llc | 762,948 | $6.4M |
| ark investment management llc | 269,557 | $2.2M |
| two sigma investments, lp | 194,245 | $1.6M |
| envestnet asset management inc | 166,136 | $1.4M |
| marshall wace, llp | 149,993 | $1.3M |
| renaissance group llc | 125,901 | $1.1M |
| goldman sachs group inc | 72,955 | $608K |
| man group plc | 54,758 | $457K |
| millennium management llc | 46,934 | $391K |
Showing top 10 of 39 institutional holders of KAMADA LTD. Open the full 13F history after sign-in.
Short Interest
as of Apr 30, 2026- % of float
- 0.3%
- Days to cover
- 1.8
- Shares short
- 109,877
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
KMDA short interestFrequently asked questions
What is the AI investment thesis for KAMADA LTD?
Kamada Ltd. is a biopharmaceutical company focused on plasma-derived and specialty products for rare and serious conditions, with marketed products including KEDRAB, GLASSIA, and CYTOGAM, and a pipeline candidate in inhaled AAT for Alpha-1 Antitrypsin Deficiency.
Who is the CEO of KAMADA LTD?
Mr. Amir London is the chief executive officer of KAMADA LTD (KMDA).
Where is KAMADA LTD headquartered?
KAMADA LTD (KMDA) is headquartered in Rehovot, Israel.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.