KAMADA LTD
KMDA evidence brief
What we can confirm
- Market Cap:
- $461.1M
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 commercial-stage global biopharmaceutical company focused on specialty plasma-derived therapies for rare and serious conditions, with a marketed product portfolio and a recent Phase 3 trial discontinuation.
Key risk: Phase 3 trial failure
Market Cap
$461.1M
Cash Runway
—
Lead Asset
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Next Catalyst
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Financial data as of Dec 31, 2025.
Tracking 2 clinical trials for KAMADA LTD.
Kamada Ltd. is a commercial-stage global biopharmaceutical company focused on specialty plasma-derived therapies for rare and serious conditions, with a marketed product portfolio and a recent Phase 3 trial discontinuation.
- Cash & equivalents of $75.5M as of 2025-12-31 [sec].
- 2026 revenue guidance of $200–$205 million and adjusted EBITDA of $50–$53 million, representing double-digit growth [news · 2026-01-07].
- Discontinued its Phase 3 inhaled AAT clinical trial in December 2025 after a planned interim futility analysis showed it was unlikely to demonstrate a statistically significant benefit [news · 2025-12-08].
- Q3 2025 revenues of $47.0M (up 13% YoY) and adjusted EBITDA of $11.7M (up 34% YoY) [news · 2025-11-10].
- Continues to supply GLASSIA® (AAT-IV treatment) through a license agreement with Takeda [news · 2025-12-08].
What works
- Diverse marketed product portfolio generating double-digit revenue growth and profitability [news · 2025-11-10].
- Strong cash position of $75.5M as of 2025-12-31 provides financial flexibility for operations and potential M&A [sec].
- Company projects double-digit growth in revenues and profitability for 2026 based on organic growth alone [news · 2026-01-07].
What to weigh
- Phase 3 inhaled AAT clinical trial was discontinued after a futility analysis, eliminating a key pipeline program [news · 2025-12-08].
- Company's 2026 guidance relies solely on organic growth, with no contribution from new business development or M&A yet secured [news · 2026-01-07].
- Competitor Tessera Therapeutics is advancing a Phase 1/2 trial for a different AAT deficiency therapy, potentially increasing competitive pressure [competitor_trial].
From the filings
Quoted directly from source documents.
Phase 3 inhaled AAT trial discontinued due to futility
“Based on the Results of a Planned Interim Futility Analysis the Inhaled AAT Trial is Unlikely to Demonstrate a Statistically Significant Benefit in its Primary Endpoint”
News · December 8, 2025
2026 revenue guidance of $200-$205 million
“Kamada Provides 2026 Annual Guidance of $200 - $205 Million in Revenues and $50 - $53 Million of Adjusted EBITDA”
News · January 7, 2026
Q3 2025 revenue and EBITDA growth
“Third Quarter Revenues of $47.0 Million, up 13% Year-over-Year, and Adjusted EBITDA of $11.7 Million, up 34% Year-Over Year”
News · November 10, 2025
Catalyst timeline
- 2019-11-25 · Phase 3 start for inhaled AAT — Prospective Phase 3 multi-center, placebo-controlled, double-blind study of Kamada-AAT for inhalation in alpha-1 antitrypsin deficiency; trial was later discontinued in December 2025.
Risks & what to watch (3)›
Key risks
- Phase 3 trial failure — Discontinuation of inhaled AAT trial removes a major pipeline asset and may affect long-term growth prospects [news · 2025-12-08].
- Competition in AAT deficiency — Tessera Therapeutics is testing a Phase 1/2 therapy for severe AAT deficiency, potentially eroding Kamada's market position [competitor_trial].
- Dependence on organic growth — 2026 guidance relies solely on organic growth; lack of M&A or new deals could limit upside [news · 2026-01-07].
What to watch
- Whether Kamada can secure new business development or M&A transactions to supplement organic growth [news · 2026-01-07].
- Progress of the investigator-initiated CYTOGAM trial in kidney transplantation, which enrolled its first patient in November 2025 [news · 2025-11-04].
- Competitive developments from Tessera Therapeutics' Phase 1/2 trial for AAT deficiency [competitor_trial].
- Kamada's ability to maintain double-digit revenue and EBITDA growth in 2026 as guided [news · 2026-01-07].
Sources: Catalysts · Competitor trials · News · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Regulatory
Financials
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 commercial-stage global biopharmaceutical company focused on specialty plasma-derived therapies for rare and serious conditions, with a marketed product portfolio and a recent Phase 3 trial discontinuation.
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.