Kiniksa Pharmaceuticals International, plc
KNSA evidence brief
What we can confirm
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 is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for inflammatory diseases, with one marketed product (ARCALYST) and a late-stage pipeline candidate (KPL-387) for recurrent pericarditis.
Key risk: Commercialization risk for ARCALYST
BioSniper Score
Based on 6 of 6 signals
Financial data as of Mar 31, 2026.
Tracking 2 pipeline candidates · 5 clinical trials · 2 catalysts for Kiniksa Pharmaceuticals International, plc.
Kiniksa Pharmaceuticals is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for inflammatory diseases, with one marketed product (ARCALYST) and a late-stage pipeline candidate (KPL-387) for recurrent pericarditis.
- Cash & equivalents of $190.0M as of 2026-03-31 [sec].
- Total revenue of $214.3M and net income of $22.6M for the trailing twelve months as of 2026-03-31 [sec].
- Shareholders' equity of $567.6M as of 2026-03-31 [sec].
- ARCALYST (rilonacept) is the company's only approved product, commercialized for recurrent pericarditis [sec_mda].
- KPL-387, a Phase 2/3 candidate for recurrent pericarditis, is advancing toward a potential biologics license application [sec].
What works
- The company has a commercially approved product (ARCALYST) generating revenue, with total revenue of $214.3M as of 2026-03-31 [sec].
- KPL-387 is in Phase 2/3 development for recurrent pericarditis, a condition with an existing approved therapy (ARCALYST), potentially expanding the company's portfolio [sec].
- The company reported net income of $22.6M as of 2026-03-31, indicating profitability [sec].
What to weigh
- The company's business is subject to risks related to continued commercialization of ARCALYST and successful development of future products [sec_mda].
- KPL-387 is still in clinical development and has not yet received regulatory approval; its success is uncertain [sec].
- The company faces competitive pressures from other products and technologies in the inflammatory disease space [sec_mda].
From the filings
Quoted directly from source documents.
KPL-387 Phase 2/3 trial initiated in 2025
“During 2025, the Company substantially completed its ongoing Phase 1 clinical trial of KPL-387 in normal, healthy volunteers. This work enabled the Company to submit an investigational new drug application for a Phase 2/3 clinical trial of KPL-387 in recurrent pericarditis, which it initiated in 2025.”
SEC filings · April 16, 2026
ARCALYST is the company's only approved product
“our continued ability to commercialize ARCALYST®(rilonacept) and to develop and commercialize our current and future product candidates, if approved”
SEC MD&A · October 28, 2025
Catalyst timeline
- 2026-12-31 · Phase2_Topline · kpl-387 — Phase 2 Readout: kpl-387 — Topline data from the Phase 2 portion of the KPL-387 study in recurrent pericarditis will be reported.
- 2029-12-31 · Phase3_Topline · kpl-387 — Phase 3 Topline: A Phase 2/3 Efficacy and Safety Study of KPL-387 Treatment in Participants With Recurrent Pericardit — Topline data from the Phase 3 portion of the KPL-387 study in recurrent pericarditis will be reported.
Risks & what to watch (3)›
Key risks
- Commercialization risk for ARCALYST — The company may not be able to continue commercializing ARCALYST successfully, impacting revenue [sec_mda].
- Clinical and regulatory risk for KPL-387 — KPL-387 is in Phase 2/3 and may fail to demonstrate efficacy or safety, delaying or preventing approval [sec].
- Competitive pressure — The company faces competition from other products and technologies in the inflammatory disease market [sec_mda].
What to watch
- Phase 2 topline data for KPL-387 expected by 2026-12-31 [catalyst].
- Phase 3 topline data for KPL-387 expected by 2029-12-31 [catalyst].
- Progress toward a biologics license application for KPL-387 [sec].
- Continued commercial performance of ARCALYST and revenue trends [sec_mda].
Sources: SEC filings · SEC MD&A · Generated August 24, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 6 of 6 signals · derived from public data
Profitable (positive operating cash flow)
D/E 0.36 · 8% dilution
Lead: Approved
2 candidates
2 upcoming, next in ~123d
0 buys · 18 sells (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
228
Total value held
$2.04B
| Holder | Shares | Value |
|---|---|---|
| fmr llc | 6,823,700 | $328.6M |
| baker bros. advisors lp | 2,826,246 | $136.1M |
| vanguard capital management llc | 2,666,186 | $128.4M |
| tang capital management llc | 2,259,889 | $108.8M |
| vanguard portfolio management llc | 1,766,268 | $85.0M |
| caption management, llc | 999,400 | $48.1M |
| morgan stanley | 997,786 | $48.0M |
| janus henderson group plc | 962,046 | $46.4M |
| d. e. shaw & co., inc. | 959,257 | $46.2M |
| arrowstreet capital, limited partnership | 892,666 | $43.0M |
Showing top 10 of 228 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 is a commercial-stage biopharmaceutical company focused on developing and commercializing therapies for inflammatory diseases, with one marketed product (ARCALYST) and a late-stage pipeline candidate (KPL-387) for recurrent pericarditis.
What is Kiniksa Pharmaceuticals International, plc's lead drug candidate?
Kiniksa Pharmaceuticals International, plc's most advanced tracked candidate is ARCALYST (Approved) for Recurrent pericarditis; Cryopyrin-Associated Periodic Syndromes (CAPS) including Familial Cold Autoinflammatory Syndrome (FCAS) and Muckle-Wells Syndrome; Deficiency of Interleukin-1 Receptor Antagonist (DIRA).
What is Kiniksa Pharmaceuticals International, plc's next catalyst?
Kiniksa Pharmaceuticals International, plc's next tracked catalyst is a Phase2_Topline event — "Phase 2 Readout: kpl-387" — expected December 31, 2026.
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.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.