Kiniksa Pharmaceuticals International, plc
KNSA evidence brief
What we can confirm
- BioSniper Score:
- 6.2 / 10
- Market Cap:
- $5.85B
What it means
What to watch
Prepared research question
What matters most for KNSA—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · KNSA
Kiniksa Pharmaceuticals International, plc (KNSA) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular and autoimmune conditions, with a marketed product ARCALYST and a late-stage pipeline including KPL-387 for recurrent pericarditis.
Key risk: KPL-387 clinical and regulatory risk
BioSniper Score
Based on 3 of 6 signals
Limited data coverage
Market Cap
$5.85B
Cash Runway
—
Lead Asset
—
Next Catalyst
—
Financial data as of Mar 31, 2026.
Tracking 5 clinical trials for Kiniksa Pharmaceuticals International, plc.
Kiniksa Pharmaceuticals International, plc (KNSA) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular and autoimmune conditions, with a marketed product ARCALYST and a late-stage pipeline including KPL-387 for recurrent pericarditis.
- Cash and equivalents of $190.0M as of 2026-03-31 [sec].
- Total revenue of $214.3M and net income of $22.6M as of 2026-03-31 [sec].
- Initiated a Phase 2/3 clinical trial of KPL-387 in recurrent pericarditis, with data expected in the second half of 2026 [sec · filed 2026-04-16].
- Net income of $59.0 million in 2025 vs. a net loss of ($43.2) million in 2024 [sec · filed 2026-04-16].
- As of end 2025, approximately 18% of the target 14,000 multiple-recurrence patients were actively on ARCALYST treatment [sec · filed 2026-04-16].
What works
- Transitioned to profitability with net income of $59.0M in 2025 compared to a net loss of ($43.2)M in 2024 [sec · filed 2026-04-16].
- Strong cash position of $190.0M as of 2026-03-31 provides financial flexibility for pipeline development [sec].
- ARCALYST has established commercial traction, with 18% of target multiple-recurrence patients actively on treatment as of end 2025 [sec · filed 2026-04-16].
- KPL-387 Phase 2/3 trial is underway with data expected in H2 2026, and the program is on track for a potential biologics license application [sec · filed 2026-04-16].
What to weigh
- KPL-387 is still in clinical development and has not yet been approved; its commercial success is uncertain [sec · filed 2026-04-16].
- The company discontinued development of abiprubart in Sjogren's Disease and is exploring strategic alternatives, indicating a pipeline setback [sec_mda · as of 2026-07-28].
- ARCALYST manufacturing relies on a technology transfer to Samsung as new drug substance manufacturer, which carries execution risk [sec · filed 2026-04-16].
- The company faces risks common to biopharmaceutical companies, including clinical trial outcomes and regulatory approvals [sec_mda · as of 2026-07-28].
From the filings
Quoted directly from source documents.
KPL-387 Phase 2/3 trial initiated and data expected in H2 2026
“Initiating our Phase 2/3 clinical trial of KPL-387 in recurrent pericarditis, with data expected in the second half of 2026.”
SEC filings · April 16, 2026
Company achieved net income in 2025 after a net loss in 2024
“Net income of $59.0 million in 2025 vs. a net loss of ($43.2) million in 2024”
SEC filings · April 16, 2026
ARCALYST patient penetration as of end 2025
“approximately 18% of the target 14,000 multiple-recurrence patients were actively on ARCALYST treatment.”
SEC filings · April 16, 2026
Abiprubart development discontinued in Sjogren's Disease
“we announced our plans to discontinue development of abiprubart in Sjogren's Disease and to explore strategic alternatives for the asset.”
SEC MD&A · July 28, 2026
Catalyst timeline
- 2025-07-25 · Phase 2/3 start for KPL-387 in recurrent pericarditis — Trial initiated; data expected H2 2026.
- 2026-03-25 · Phase 2 posology study start for KPL-387 monotherapy transition — Study evaluating transition regimens from standard therapies to KPL-387 monotherapy.
Risks & what to watch (4)›
Key risks
- KPL-387 clinical and regulatory risk — KPL-387 is in Phase 2/3; failure or delay could impact pipeline value [sec · filed 2026-04-16].
- ARCALYST manufacturing transition — Technology transfer to Samsung for drug substance manufacturing may face delays or issues [sec · filed 2026-04-16].
- Abiprubart pipeline setback — Discontinuation in Sjogren's Disease and need for strategic alternatives creates uncertainty [sec_mda · as of 2026-07-28].
- Concentration on ARCALYST revenue — Heavy reliance on ARCALYST for current revenue; competitive or market changes could impact [sec · filed 2026-04-16].
What to watch
- KPL-387 Phase 2/3 data expected in the second half of 2026 [sec · filed 2026-04-16].
- FDA approval timeline for Samsung as new ARCALYST drug substance manufacturer [sec · filed 2026-04-16].
- Initiation of Phase 1 trial for KPL-1161 expected in 2026 [sec · filed 2026-04-16].
- Full-year 2026 revenue guidance raised to $980M-$995M from $930M-$945M [news · published 2026-07-29].
Sources: Catalysts · News · SEC filings · SEC MD&A · Generated October 2, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 3 of 6 signals · derived from public data
Pipeline inputs are unavailable for this score. It uses only the available signals shown below.
Profitable (positive operating cash flow)
D/E 0.36 · 8% dilution
No tracked pipeline phase
No tracked pipeline candidates
No upcoming catalysts tracked
0 buys · 11 sells (180d)
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
227
Total value held
$2.08B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 6,823,700 | $328.6M |
| rubric capital management lp | 3,750,000 | $180.6M |
| baker bros. advisors lp | 2,826,246 | $136.1M |
| tang capital management llc | 2,259,889 | $108.8M |
| vanguard portfolio management llc | 1,766,268 | $85.0M |
| vanguard capital management llc | 1,333,093 | $64.2M |
| morgan stanley | 997,786 | $48.0M |
| d. e. shaw & co., inc. | 959,257 | $46.2M |
| arrowstreet capital, limited partnership | 892,666 | $43.0M |
| dimensional fund advisors lp | 811,922 | $39.1M |
Showing top 10 of 227 institutional holders of Kiniksa Pharmaceuticals International, plc. Open the full 13F history after sign-in.
Short Interest
as of May 21, 2026- % of float
- 9.3%
- Days to cover
- 4.3
- Shares short
- 3,529,376
- 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 →
KNSA short interestGovernance
Frequently asked questions
What is the AI investment thesis for Kiniksa Pharmaceuticals International, plc?
Kiniksa Pharmaceuticals International, plc (KNSA) is a biopharmaceutical company focused on developing and commercializing therapies for cardiovascular and autoimmune conditions, with a marketed product ARCALYST and a late-stage pipeline including KPL-387 for recurrent pericarditis.
Who is the CEO of Kiniksa Pharmaceuticals International, plc?
Mr. Sanjiv K. Patel is the chief executive officer of Kiniksa Pharmaceuticals International, plc (KNSA).
Where is Kiniksa Pharmaceuticals International, plc headquartered?
Kiniksa Pharmaceuticals International, plc (KNSA) is headquartered in London, United Kingdom.
What therapeutic areas does Kiniksa Pharmaceuticals International, plc focus on?
Kiniksa Pharmaceuticals International, plc develops therapies across Immunology, Musculoskeletal.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.