KMDA Kamada Ltd.

8.83
+0.02  (+0%)
Previous Close 8.81
Open 8.76
52 Week Low 4.4
52 Week High 9.91
Market Cap $393,146,655
Shares 44,523,970
Float 28,688,913
Enterprise Value $260,734,316
Volume 340,249
Av. Daily Volume 156,625
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Upcoming Catalysts

Drug Stage Catalyst Date
Alpha-1 antitrypsin (AAT)
Prevention of lung transplant rejection
Phase 1/2
Phase 1/2
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Alpha-1 antitrypsin (AAT)
Graft Versus Host Disease (GvHD)
Phase 2/3
Phase 2/3
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Drug Pipeline

Drug Stage Notes
Plasma-derived IgG product
COVID-19
Phase 1/2
Phase 1/2
Phase 1/2 trial to be initiated 3Q 2020.
Inhaled formulation of AAT
AATD - Alpha-1 Antitrypsin deficiency
Phase 2
Phase 2
Phase 3 trial initiation announced December 16, 2019.
KamRAB
Prophylaxis of rabies disease
Approved
Approved
Approval announced August 25, 2017.
Alpha-1 Antitrypsin (AAT)
Pediatric patients newly diagnosed with type 1 diabetes
Phase 2
Phase 2
Phase 2 data released November 3, 2017. No significant treatment effect noted overall.

Latest News

    • Kamada Completed Manufacturing and Released the First Batch of its Plasma-Derived Immunoglobulin Product for Coronavirus Disease (COVID-19) and it is Available for Compassionate Use Treatment in Israel; Additional Production is On-Going
    • Kamada Intends to Initiate a Phase 1/2 Clinical Study in Hospitalized COVID-19 Patients in Israel During the Third Quarter of 2020
    • Kamada and its Partner Kedrion are Expanding the Clinical Development Program to the U.S. and Expect to Hold a Pre-IND Meeting with the FDA Early in the Third Quarter of 2020
    • Kamada Intends to Manufacture Future Batches of the Product using U.S. COVID-19 Convalescent Plasma Collected by Kedrion

    REHOVOT, Israel, June 17, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ:KMDA, TASE: KMDA.TA…

    • Kamada Completed Manufacturing and Released the First Batch of its Plasma-Derived Immunoglobulin Product for Coronavirus Disease (COVID-19) and it is Available for Compassionate Use Treatment in Israel; Additional Production is On-Going

    • Kamada Intends to Initiate a Phase 1/2 Clinical Study in Hospitalized COVID-19 Patients in Israel During the Third Quarter of 2020
    • Kamada and its Partner Kedrion are Expanding the Clinical Development Program to the U.S. and Expect to Hold a Pre-IND Meeting with the FDA Early in the Third Quarter of 2020
    • Kamada Intends to Manufacture Future Batches of the Product using U.S. COVID-19 Convalescent Plasma Collected by Kedrion

    REHOVOT, Israel, June 17, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ:KMDA, TASE: KMDA.TA))), a plasma-derived biopharmaceutical company, today provided an update on its development of a plasma-derived immunoglobulin (IgG) product for Coronavirus Disease (COVID-19).

    Kamada completed manufacturing of the first batch of its plasma-derived IgG product for COVID-19 utilizing the Company's approved proprietary IgG platform technology, and additional production is ongoing. The initial vials are available for compassionate use in Israel. In addition, Kamada's proposed clinical protocol for a Phase 1/2 clinical trial was submitted to the Israeli Ministry of Health, and the Company expects to initiate the study during the third quarter of this year.

    In order to expand its clinical development program to the U.S., Kamada, with the support of Kedrion Biopharma, intends to conduct a pre-Investigational New Drug (pre-IND) meeting with the U.S. Food and Drug Administration (FDA) early in the third quarter in order to obtain FDA's acceptance of the proposed clinical development program. Pursuant to the Company's global collaboration agreement with Kedrion for the development, manufacturing and distribution of the plasma-derived IgG product for COVID-19, Kedrion is currently collecting COVID-19 convalescent plasma from U.S. recovered patients that will be used by Kamada to manufacture additional batches of the product. Kedrion is collecting the plasma, through its plasma business unit, KEDPLASMA, at 23 FDA-approved centers across the United States.

    "We are extremely pleased with the rapid and important progress achieved to date in advancing our plasma-derived IgG product for COVID-19," said Amir London, Kamada's Chief Executive Officer. "To the best of our knowledge, Kamada is the first company globally to complete manufacturing of a plasma-derived IgG product for the treatment of COVID-19. This achievement validates our advanced IgG development and manufacturing capabilities and our ability to rapidly focus our efforts on providing potential solutions to emerging pandemic situations. We anticipate the initiation of a Phase 1/2 clinical trial in Israel during the third quarter and are concurrently expanding our development program to the U.S. with our partner, Kedrion. We believe that Kamada and Kedrion, two leaders in plasma-derived protein therapeutics, are uniquely positioned to make a positive impact in the treatment of COVID-19 patients." 

    About Kamada

    Kamada Ltd. ("the Company") is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company's flagship product is GLASSIA®, the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. The Company's second leading product is KAMRAB®, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KAMRAB is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to GLASSIA and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company's intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection. The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties.  FIMI Opportunity Fund, the leading private equity investor in Israel, is the Company's lead shareholder, beneficially owning approximately 21% of the outstanding ordinary shares.

    Cautionary Note Regarding Forward-Looking Statements

    This release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements regarding 1) Kamada intending to initiate Phase 1/2 clinical trial in hospitalized COVID-19 patients in Israel during the third quarter of 2020; 2) Kamada and Kedrion working together to hold a pre-IND meeting with the FDA early in the third quarter of 2020; 3) that to the best of its knowledge, Kamada is the first company globally to complete manufacturing of a plasma-derived IgG product for the treatment of COVID-19; and 4) the belief that Kamada and Kedrion are uniquely positioned to make a positive impact in the treatment of COVID-19 patients. Forward-looking statements are based on Kamada's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, the continued evolvement of the COVID-19 pandemic, including its effect and duration, availability of sufficient raw materials required to continue manufacturing of the plasma-derived hyperimmune IgG product for COVID-19, competition from other products for the treatment of COVID-19 patients; the effects of the COVID-19 pandemic and related government mandates on the availability of adequate levels of work-force required to maintain manufacturing plans, ability to obtain regulatory approval for clinical trials of the plasma-derived hyperimmune IgG product for COVID-19, unexpected results of clinical studies and on-going compassionate-use treatments, ability to find doctors and medical facilities to collaborate on compassionate-use treatments, Kamada's ability to manage operating expenses, additional competition in the markets that Kamada competes, regulatory delays, prevailing market conditions and the impact of general economic, industry or political conditions in the U.S., Israel or otherwise. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

    CONTACTS:

    Chaime Orlev

    Chief Financial Officer

    kamada.com

    Bob Yedid

    LifeSci Advisors, LLC

    646-597-6989

     

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    • Total Revenues were $33.3 Million, an Increase of 24% Year-over-Year
    • Net Income was $5.2 Million, an Increase of 6% Year-over-Year
    • Company Reports Continued Progress of its Development Program of a Plasma-Derived Hyperimmune IgG Therapy for COVID-19; Product Availability for Clinical and Compassionate Use Treatment for COVID-19 patients in Israel is Expected by End of the Second Quarter of 2020
    • Company's Manufacturing Plant Continues to Operate Without Significant Disruption During Ongoing Coronavirus (COVID-19) Outbreak
    • Kamada Reiterates Full-Year 2020 Total Revenue Guidance of $132 Million to $137 Million

    REHOVOT, Israel, May 18, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ:KMDA, TASE: KMDA.TA)), a plasma-derived biopharmaceutical company…

    • Total Revenues were $33.3 Million, an Increase of 24% Year-over-Year
    • Net Income was $5.2 Million, an Increase of 6% Year-over-Year
    • Company Reports Continued Progress of its Development Program of a Plasma-Derived Hyperimmune IgG Therapy for COVID-19; Product Availability for Clinical and Compassionate Use Treatment for COVID-19 patients in Israel is Expected by End of the Second Quarter of 2020
    • Company's Manufacturing Plant Continues to Operate Without Significant Disruption During Ongoing Coronavirus (COVID-19) Outbreak
    • Kamada Reiterates Full-Year 2020 Total Revenue Guidance of $132 Million to $137 Million

    REHOVOT, Israel, May 18, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ:KMDA, TASE: KMDA.TA)), a plasma-derived biopharmaceutical company, today announced financial results for the three months ended March 31, 2020.

    "As the ongoing COVID-19 global pandemic continues to create substantial complications in daily life and business operations, we are focused on the safety and well-being of our employees, who continue to find innovative solutions to support our patients and partners," said Amir London, Kamada's Chief Executive Officer.  "These efforts contributed to our strong performance in the first quarter of the year.  Total revenues were $33.3 million, an increase of 24 percent year-over-year.  These results were driven by similar year-over year increase in sales of both our Proprietary and Distributed products.  Based on our strong performance in the first quarter and our current outlook for the remainder of the year, we are reiterating our guidance of total revenues of between $132 million and $137 million for full-year 2020."

    "To date, our manufacturing plant remains operational with no effect on business continuity, even amidst the emergency regulations enforced in Israel in recent months due to the COVID-19 pandemic.  Moreover, based on the most recent interactions with our U.S. distribution partners regarding finished product inventory levels available for distribution in the U.S and our planned supply for the remainder of the year, we do not anticipate meaningful supply shortages in the foreseeable future in the U.S. market for GLASSIA® or KEDRAB®.  In addition, based on currently available inventory levels and planned supply of our Distributed products in Israel, we do not anticipate significant supply shortages in the foreseeable future.  Going forward, although certain COVID-19 pandemic-related dynamics may affect market demand and production conditions, we intend to maintain our current manufacturing and supply plans, and increased inventory levels of raw materials through our suppliers and service providers in order to appropriately manage any potential supply disruptions and secure continued manufacturing," continued Mr. London.

    "As previously reported, during the first quarter, we were able to quickly focus our efforts on the development and manufacturing of a plasma-derived hyperimmune IgG product for COVID-19, which leverages our proprietary IgG platform technology, as a potential treatment for COVID-19 patients.  We are pleased to report today that we have secured adequate quantities of COVID-19 convalescent plasma in Israel. This has enabled us to initiate manufacturing of the product, which is expected to be available by the end of the second quarter for compassionate use treatment in Israel, based on Israeli Ministry of Health (IMOH) regulations.  Concurrently, we have ongoing discussions with the IMOH with regard to the potential initiation of related clinical trials.  In addition, we were excited to recently announce our global collaboration with Kedrion Biopharma, which will allow us to more rapidly develop our plasma-derived hyperimmune IgG product for COVID-19 and broaden our international reach," concluded Mr. London.

    Financial Highlights for the Three Months Ended March 31, 2020

    • Total revenues were $33.3 million in the first quarter of 2020, a 24% increase from the $26.8 million recorded in the first quarter of 2019
    • Revenues from the Proprietary Products segment in the first quarter of 2020 were $25.3 million, a 24% increase from the $20.4 million reported in the first quarter of 2019
    • Revenues from the Distribution segment were $8.0 million in the first quarter of 2020, a 24% increase from the $6.4 million recorded in the first quarter of 2019
    • Gross profit was $11.5 million in the first quarter of 2020, a 2% increase from the $11.2 million reported in the first quarter of 2019; overall gross profitability differences are affected by changes in product sales mix between the quarters
    • Operating expenses, including R&D, Sales & Marketing, G&A, and Other expenses, totaled $6.6 million in the first quarter of 2020, as compared to $6.0 million in the first quarter of 2019.  This increase was primarily driven by increased R&D expenses specifically related to the initiation of the Company's pivotal Phase 3 InnovAATe clinical trial which is designed to evaluate the Company's proprietary inhaled Alpha-1 Antitrypsin therapy for treatment of Alpha-1 Antitrypsin Deficiency
    • Net income was $5.2 million, or $0.12 per share, in the first quarter of 2020, as compared to net income of $4.9 million, or $0.12 per share, in the first quarter of 2019
    • Adjusted EBITDA, as detailed in the tables below, was $6.3 million in the first quarter of 2020, as compared to $6.7 million in the first quarter of 2019
    • Cash used in operating activities was $1.9 million in the first quarter of 2020, as compared to cash provided by operating activities of $6.1 million in the first quarter of 2019.  This change in operating activity cash flow is specifically related to timing of payments to suppliers on account of inventories which are expected to be sold later this year

    Balance Sheet Highlights
    As of March 31, 2020, the Company had cash, cash equivalents, and short-term investments of $96.4 million, as compared to $73.9 million at December 31, 2019.  This includes the net proceeds generated from the $25 million private placement transaction with the FIMI Opportunity Fund closed in February 2020.

    Recent Corporate Highlights

    • Plasma-derived hyperimmune IgG product for COVID-19

    ° Announced a collaboration with Kedrion Biopharma for the development, manufacturing and distribution of a plasma-derived hyperimmune IgG product for COVID-19
    ° Initiated manufacturing of the product based on collected convalescent plasma in Israel; product is expected to be available for clinical and compassionate use treatment in Israel by the end of the second quarter

    • Inhaled AAT product

    ° Enrolment in the pivotal Phase 3 InnovAATe clinical trial, which continued through February 2020, was temporarily halted due to the impact of COVID-19 pandemic on healthcare systems. Patients already recruited to the study continued treatment as planned. The Company anticipates resuming enrollment into the study in the third quarter of 2020, pending appropriate conditions at clinical trial sites.
    ° InnovAATe clinical trial is designed to evaluate the Company's proprietary inhaled Alpha-1 Antitrypsin therapy for treatment of Alpha-1 Antitrypsin Deficiency
    ° Obtained U.S. Food and Drug Administration (FDA) acceptance for the protocol design of a 30 patient sub-study, designed to evaluate the effect of Kamada‘s Inhaled AAT on pharmacokinetics of IV-AAT and collect safety and immunogenicity data, including the effect of anti-drug antibodies (ADA) on AAT levels in plasma. Initiation of this sub-study has been delayed due to COVID-19 pandemic effect

    Conference Call
    Kamada management will host an investment community conference call on Monday, May 18, at 8:30am Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the conference call by dialing 877-407-0792 (from within the U.S.), 1809 406 247 (from Israel), or 201-689-8263 (International) and entering the conference identification number: 13699990. The call will also be webcast live on the Internet on the Company's website at www.kamada.com.

    About Kamada
    Kamada Ltd. ("the Company") is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company's flagship product is GLASSIA®, the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. The Company's second leading product is KamRab®, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KamRab is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to Glassia and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company's intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection. The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties.  FIMI Opportunity Fund, the leading private equity investor in Israel, is the Company's lead shareholder, beneficially owning approximately 21% of the outstanding ordinary shares.

    Cautionary Note Regarding Forward-Looking Statements
    This release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements regarding 1) the total revenues to be in the range of $132 million to $137 million for fiscal 2020; 2) not anticipating meaningful supply shortages in the foreseeable future in the U.S. market for GLASSIA® or KEDRAB®; 3) not anticipating significant supply shortages in the foreseeable future for Kamada's Distributed products in Israel; 4) anticipating maintaining current manufacturing and supply plans; 5) increasing inventory levels of raw materials through suppliers and service providers in order to appropriately manage any potential supply disruptions and secure continued manufacturing; 6) anticipating availability for clinical and compassionate-use treatment in Israel of a plasma-derived hyperimmune IgG product for COVID-19, form COVID-19 convalescent plasma, by the end of the second quarter of 2020; 7) anticipating that the global collaboration with Kedrion Biopharma will allow Kamada to speed up the development of the plasma-derived hyperimmune IgG product for COVID-19 and broaden the product's international reach; and 8) anticipating that Phase 3 InnovAATe clinical trial will resume enrollment in the third quarter of 2020. Forward-looking statements are based on Kamada's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, the continued evolvement of the COVID-19 pandemic, its effect and duration, availability of sufficient raw materials required to maintain manufacturing plans, the effects of the COVID-19 pandemic and related government mandates on the availability of adequate levels of work-force required to maintain manufacturing plans, disruption to the supply chain due to COVID-19 pandemic, continuation of inbound and outbound international delivery routes, continued demand for Kamada's products, including GLASSIA and KEDRAB, in the U.S. market and its distributed products in Israel, ability to obtain regulatory approval for clinical trials of the plasma-derived hyperimmune IgG product for COVID-19, unexpected results of clinical studies and on-going compassionate-use treatments, ability to find doctors and medical facilities to collaborate on compassionate-use treatments, Kamada's ability to manage operating expenses, additional competition in the markets that Kamada competes, regulatory delays, prevailing market conditions and the impact of general economic, industry or political conditions in the U.S., Israel or otherwise. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

    CONTACTS:
    Chaime Orlev
    Chief Financial Officer

    Bob Yedid
    LifeSci Advisors, LLC
    646-597-6989



                 
    Consolidated Balance Sheets            
                 
        As of March 31,     As of
    December 31,
     
        2020     2019     2019  
                       
        Unaudited     Audited  
                 
        U.S Dollars in thousands  
    Assets                  
    Current Assets                        
    Cash and cash equivalents   $ 49,288     $ 22,037     $ 42,662  
    Short-term investments     47,124       33,800       31,245  
    Trade receivables, net     26,266       23,210       23,210  
    Other accounts receivables     1,736       3,442       3,272  
    Inventories     41,787       31,708       43,173  
    Total Current Assets     166,201       114,197       143,562  
                             
    Non-Current Assets                        
    Property, plant and equipment, net     24,379       24,642       24,550  
    Right-of-use assets     3,800       4,187       4,022  
    Other long term assets     1,053       174       352  
    Deferred expenses     421       -       -  
    Deferred taxes     939       1,895       1,311  
    Total Non-Current Assets     30,592       30,898       30,235  
    Total Assets   $ 196,793     $ 145,095     $ 173,797  
    Liabilities                        
    Current Liabilities                        
    Current maturities of bank loans   $ 465     $ 470     $ 489  
    Current maturities of lease liabilities     928       961       1,020  
    Trade payables     18,440       15,255       24,830  
    Other accounts payables     4,875       4,424       5,811  
    Deferred revenues     649       461       589  
    Total Current Liabilities     25,357       21,571       32,739  
                             
    Non-Current Liabilities                        
    Bank loans     138       591       257  
    Lease liabilities     3,663       4,036       3,981  
    Deferred revenues     569       605       232  
    Employee benefit liabilities, net     1,251       823       1,269  
    Total Non-Current Liabilities     5,621       6,055       5,739  
                             
    Shareholder's Equity                        
    Ordinary shares     11,647       10,412       10,425  
    Additional paid in capital  net     204,702       179,352       180,819  
    Capital reserve due to translation to presentation currency     (3,490 )     (3,490 )     (3,490 )
    Capital reserve from hedges     264       11       8  
    Capital reserve from financial assets measured at fair value through other comprehensive income     -       118       145  
    Capital reserve from share-based payments     8,903       9,463       8,844  
    Capital reserve from employee benefits     (356 )     4       (359 )
    Accumulated deficit     (55,855 )     (78,401 )     (61,073 )
    Total Shareholder's Equity     165,815       117,469       135,319  
    Total Liabilities And Shareholder's Equity   $ 196,793     $ 145,095     $ 173,797  
     



     
    Consolidated Statements of Comprehensive Income
                 
        Three months period ended     Year ended  
        March 31,     December 31,  
        2020     2019     2019  
                       
        Unaudited     Audited  
                 
        U.S Dollars in thousands  
                       
    Revenues from proprietary products   $ 25,317     $ 20,381     $ 97,696  
    Revenues from distribution     7,973       6,416       29,491  
                             
    Total revenues     33,290       26,797       127,187  
                             
    Cost of revenues from proprietary products     14,947       10,490       52,425  
    Cost of revenues from distribution     6,892       5,123       25,025  
                             
    Total cost of revenues     21,839       15,613       77,450  
                             
    Gross profit     11,451       11,184       49,737  
                             
    Research and development expenses     3,347       2,766       13,059  
    Selling and marketing expenses     940       1,092       4,370  
    General and administrative expenses     2,312       2,094       9,194  
    Other expense     2       23       330  
    Operating income     4,850       5,209       22,784  
                             
    Financial income     317       280       1,146  
    Income (expense) in respect of securities measured at fair value, net     102       (52 )     (5 )
    Income (expense) in respect of currency exchange differences and derivatives instruments, net     432       (313 )     (651 )
    Financial expense     (77 )     (71 )     (293 )
    Income before tax on income     5,624       5,053       22,981  
    Taxes on income     406       130       730  
                             
    Net Income   $ 5,218     $ 4,923     $ 22,251  
                             
    Other Comprehensive Income (loss) :                        
    Amounts that will be or that have been reclassified to profit or loss when specific conditions are met                        
    Gain (loss) from securities measured at fair value through other comprehensive income     (188 )     108       143  
    Gain on cash flow hedges     241       74       92  
    Net amounts transferred to the statement of profit or loss for cash flow hedges     34       (2 )     (23 )
    Items that will not be reclassified to profit or loss in subsequent periods:                        
    Remeasurement gain (loss) from defined benefit plan     -       -       (388 )
    Tax effect     27       (28 )     (11 )
    Total comprehensive income   $ 5,332     $ 5,075     $ 22,064  
                             
    Earnings per share attributable to equity holders of the Company:                        
    Basic income per share   $ 0.12     $ 0.12     $ 0.55  
    Diluted income per share   $ 0.12     $ 0.12     $ 0.55  
     



     
    Consolidated Statements of Cash Flows
                 
        Three months period Ended     Year Ended  
        March 31,     December 31,  
        2020     2019     2019  
                       
        Unaudited     Audited  
                 
        U.S Dollars in thousands  
    Net income   $ 5,218     $ 4,923     $ 22,251  
                             
    Adjustments to reconcile net income to net cash provided by operating activities:                        
                             
    Adjustments to the profit or loss items:                        
                             
    Depreciation and impairment     1,192       1,127       4,519  
    Financial expenses (income), net     (774 )     156       (197 )
    Cost of share-based payment     258       315       1,163  
    Taxes on income     406       130       730  
    Loss (gain) from sale of property and equipment     -       (6 )     (2 )
    Change in employee benefit liabilities, net     (18 )     36       94  
          1,064       1,758       6,307  
    Changes in asset and liability items:                        
                             
    Decrease (increase) in trade receivables, net     (3,016 )     4,727       5,117  
    Decrease (increase) in other accounts receivables     1,513       131       (214 )
    Decrease (increase) in inventories     1,386       (2,392 )     (13,857 )
    Decrease (increase) in deferred expenses     (421 )     (246 )     399  
    Increase (decrease) in trade payables     (7,216 )     (2,368 )     6,259  
    Increase (decrease) in other accounts payables     (1,180 )     (510 )     863  
    Increase (decrease) in deferred revenues     397       (63 )     (283 )
          (8,537 )     (721 )     (1,716 )
    Cash received (paid) during the year for:                        
                             
    Interest paid     (55 )     (63 )     (243 )
    Interest received     451       172       1,106  
    Taxes paid     (61 )     (8 )     (134 )
          335       101       729  
                             
    Net cash provided by (used in) operating activities   $ (1,920 )   $ 6,061     $ 27,571  
     



     
    Consolidated Statements of Cash Flows
     
        Three months period Ended     Year Ended  
        March 31,     December 31,  
        2020     2019     2019  
                       
        Unaudited     Audited  
                 
        U.S Dollars in thousands  
    Cash Flows from Investing Activities                  
                       
    Investment in short term investments, net   $ (15,646 )   $ (1,058 )   $ 1,727  
    Purchase of property and equipment and intangible assets     (896 )     (304 )     (2,300 )
    Proceeds from sale of property and equipment     -       6       9  
    Net cash used in investing activities     (16,542 )     (1,356 )     (564 )
                             
    Cash Flows from Financing Activities                        
                             
    Proceeds from exercise of share base payments     5       3       16  
    Repayment of lease liabilities     (278 )     (263 )     (1,070 )
    Repayment of long-term loans     (123 )     (115 )     (476 )
    Proceeds from issuance of ordinary shares, net     24,894       -       -  
                             
    Net cash provided by (used in) financing activities     24,498       (375 )     (1,530 )
                             
    Exchange differences on balances of cash and cash equivalent     590       (386 )     (908 )
                             
    Increase in cash and cash equivalents     6,626       3,944       24,569  
                             
    Cash and cash equivalents at the beginning of the year     42,662       18,093       18,093  
                             
    Cash and cash equivalents at the end of the year   $ 49,288     $ 22,037     $ 42,662  
                             
    Significant non-cash transactions                        
    Purchase of property and equipment through capital lease   $ 58     $ 4,431     $ 5,035  
    Purchase of property and equipment   $ 579     $ 235     $ 992  
     



                 
    Adjusted EBITDA            
        Three months period Ended     Year ended  
        March 31,     December 31,  
        2020     2019     2019  
                       
                       
        U.S. Dollars in thousands  
    Net income (loss)   $ 5,218     $ 4,923     $ 22,251  
    Taxes on income     406       130       730  
    Financial income, net     (774 )     156       (197 )
    Depreciation and amortization expense     1,192       1,127       4,519  
    Cost of share - based payments     258       315       1,163  
    Adjusted EBITDA   $ 6,300     $ 6,651     $ 28,466  


    Adjusted Net Income            
        Three months period Ended     Year ended  
        March 31,     December 31,  
        2020     2019     2019  
                       
                       
        U.S. Dollars in thousands  
    Net income (loss)   $ 5,218     $ 4,923     $ 22,251  
    Cost of share - based payments     258       315       1,163  
    Adjusted net income   $ 5,476     $ 5,238     $ 23,414  

     

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  1. REHOVOT, Israel, May 11, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA), a plasma-derived biopharmaceutical company, today announced that it will release financial results for the first quarter ended March 31, 2020, prior to the open of the U.S. financial markets on Monday, May 18, 2020.

    Kamada management will host an investment community conference call on Monday, May 18, at 8:30am Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the conference call by dialing 877-407-0792 (from within the U.S.), 1-809-406-247 (from Israel), or 201-689-8263 (International) and entering the conference identification number: 13699990. The call will also be webcast live on the…

    REHOVOT, Israel, May 11, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA), a plasma-derived biopharmaceutical company, today announced that it will release financial results for the first quarter ended March 31, 2020, prior to the open of the U.S. financial markets on Monday, May 18, 2020.

    Kamada management will host an investment community conference call on Monday, May 18, at 8:30am Eastern Time to discuss these results and answer questions. Shareholders and other interested parties may participate in the conference call by dialing 877-407-0792 (from within the U.S.), 1-809-406-247 (from Israel), or 201-689-8263 (International) and entering the conference identification number: 13699990. The call will also be webcast live on the Internet on the Company's website at www.kamada.com.

    The call will also be archived for 90 days on the Company's website at www.kamada.com.

    About Kamada
    Kamada Ltd. ("the Company") is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company's flagship product is GLASSIA®, the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. The Company's second leading product is KamRab®, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KamRab is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to GLASSIA and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company's intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection. The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties.  FIMI Opportunity Fund, the leading private equity investor in Israel, is the Company's lead shareholder, beneficially owning approximately 21% of the outstanding ordinary shares.

    CONTACTS:
    Chaime Orlev
    Chief Financial Officer

    Bob Yedid
    LifeSci Advisors, LLC
    646-597-6989
     

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    • Kamada is Responsible for Product Development, Manufacturing, Clinical Development, and Regulatory Submissions, as well as Distribution in Territories not under Kedrion's Responsibility
    • Kedrion is Responsible for the Collection and Supply of Plasma from Convalescent COVID-19 Patients, Support of Clinical Development and Distribution in the U.S., Europe, Australia, and S. Korea

    REHOVOT, Israel and CASTELVECCHIO PASCOLI, Italy, April 27, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA) and Kedrion Biopharma, two prominent bio-pharmaceutical companies specialized in plasma-derived protein therapeutics, today announced a global collaboration for the development, manufacturing and distribution of a human plasma-derived Anti-SARS-CoV-2…

    • Kamada is Responsible for Product Development, Manufacturing, Clinical Development, and Regulatory Submissions, as well as Distribution in Territories not under Kedrion's Responsibility
    • Kedrion is Responsible for the Collection and Supply of Plasma from Convalescent COVID-19 Patients, Support of Clinical Development and Distribution in the U.S., Europe, Australia, and S. Korea

    REHOVOT, Israel and CASTELVECCHIO PASCOLI, Italy, April 27, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA) and Kedrion Biopharma, two prominent bio-pharmaceutical companies specialized in plasma-derived protein therapeutics, today announced a global collaboration for the development, manufacturing and distribution of a human plasma-derived Anti-SARS-CoV-2 (COVID-19) polyclonal immunoglobulin (IgG) product as a potential treatment for coronavirus patients. The announcement follows separate previous reports by each of the two entities in connection with initiation of development programs for such product.  The plasma-derived Anti-SARS-CoV-2 IgG product will be developed and manufactured utilizing Kamada's proprietary IgG platform technology.

    Pursuant to the agreed terms, Kedrion will provide plasma, collected at its KEDPLASMA centers, from donors who have recovered from the virus and, upon receipt of regulatory approvals, will be responsible for commercialization of the product in the U.S., Europe, Australia, and South Korea. Kamada is responsible for product development, manufacturing, clinical development, with Kedrion's support, and regulatory submissions. Kamada will also assume distribution responsibility in all territories outside of those Kedrion is responsible for. Marketing rights for the product in China will be shared by the parties.

    The initial primary focus of the collaboration will be to provide the product as treatment to patients in Italy, Israel and the U.S. through various clinical programs, while subsequently expanding development and commercialization efforts to additional markets.

    "In light of the current global coronavirus outbreak, Kedrion and Kamada have quickly focused their efforts on developing and manufacturing a potentially safe and effective treatment," said Paolo Marcucci, Chief Executive Officer of Kedrion. "We are excited to collaborate once again with Kamada, our partner for KEDRAB® [Rabies Immune Globulin (Human)]. Based on our collective expertise in plasma-derived protein therapeutics, we believe Kedrion and Kamada are uniquely positioned to develop, manufacture and supply, in a relatively short period of time, an Anti-SARS-CoV-2 IgG treatment. We believe we have an important opportunity to make a significant impact for patients in need during this pandemic."

    "As previously reported, we initiated the development of an Anti-SARS-CoV-2 polyclonal immunoglobulin and intend to begin clinical manufacturing of the product shortly. I believe that the collaboration with Kedrion, a global leader in plasma collection and plasma-derived therapeutics, will allow us to speed up the development of the product and strengthen our international reach," said Amir London, Kamada's Chief Executive Officer. "Our successful collaboration with Kedrion around our joint KEDRAB program is indicative of the unique capabilities of both companies, and we look forward to another successful partnership leveraging our strong working relationship and the core strengths of both companies."

    This global collaboration expands the existing relationship between Kamada and Kedrion beyond KEDRAB, a plasma-derived FDA-approved human rabies immune globulin that was launched in the U.S. market in April 2018, based on a separate strategic supply and distribution agreement between the two companies. 

    There can be no assurance that the planned development and manufacturing of an Anti-SARS-CoV-2 product will receive regulatory approval, be available in a timely manner and/or result in a safe, effective and approvable therapy for COVID-19.

    About Kedrion Biopharma
    Kedrion Biopharma is a leading international biopharmaceutical company that specializes in the development, production and distribution of plasma-derived therapeutic products for use in treating serious diseases, disorders and conditions such as immune system deficiencies and coagulation disorders. Kedrion has special expertise in the treatment of rare diseases and in the manufacture of hyper-immune products such as anti-hepatitis B, anti-tetanus and RhoGAM for prophylaxis against Rh sensitization and subsequent hemolytic disease of the fetus and newborn. The company operates through a fully integrated business model from the collection of plasma in its own centers in the United States and Hungary to fractionation and production in its manufacturing facilities located in Italy, Hungary and the United States. Headquartered in Castelvecchio Pascoli (Italy), Kedrion has over 2,500 employees and a commercial presence in approximately 100 countries worldwide. Kedrion places a high value on the welfare of those who benefit from its products, as well as on the people and the communities it serves. Additional information about Kedrion Biopharma can be found at www.kedrion.com and www.kedrion.us.

    About Kamada
    Kamada Ltd. ("the Company") is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company's flagship product is GLASSIA® ("GLASSIA"), the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. The Company's second leading product is KamRab, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KamRab is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to Glassia and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company's intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection. The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties.  FIMI Opportunity Fund, the leading private equity investor in Israel, is the Company's lead shareholder, beneficially owning approximately 21% of the outstanding ordinary shares.

    Cautionary Note Regarding Forward-Looking Statements
    This release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements by Mr. Marcucci that Kedrion and Kamada are uniquely positioned to develop, manufacture and supply, in a short period of time, an Anti-SARS-CoV-2 IgG treatment, and that the parties have an important opportunity to make a significant impact for patients in need during this pandemic. Additional forward-looking statements including statements by Mr. London about initiation of clinical manufacturing of the product, the belief that the collaboration with Kedrion, a global leader in plasma collection and plasma-derived therapeutics, will allow to speed up the development of the product and strengthen its international reach and the potential for a successful partnership. Forward-looking statements are based on Kedrion's and Kamada's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, effectiveness of Anti-SARS-CoV-2 IgG to treat coronavirus, ability of Kamada to receive regulatory clearance to manufacture and sell Anti-SARS-CoV-2 IgG and the timelines of receiving such regulatory clearance, availability of plasma derived from coronavirus convalescent donors, anticipation that such plasma would include antibodies to the novel coronavirus, availability of hyper-immune plasma in light of potential shortages due to the coronavirus outbreak, commercial success of the Anti-SARS-CoV-2 IgG in the market, additional competition from alternative coronavirus treatment, regulatory delays, prevailing market conditions in general and specifically due to the effects of the COVID19 outbreak, corporate events associated with Kedrion, Kamada and their respective partners in relation to Anti-SARS-CoV-2 IgG and the impact of general economic, industry or political conditions in the U.S., Israel or otherwise. The forward-looking statements made herein speak only as of the date of this announcement, Kedrion and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

    CONTACTS:

    Kamada:
    Chaime Orlev, Chief Financial Officer


    Bob Yedid; LifeSci Advisors, LLC
    646-597-6989
    Kedrion Biopharma:
    Gioacchino De Giorgi, Head of Business Development


    Investor Relations

     

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    • Kamada Plans to Utilize its Hyper-Immunoglobulin (IgG) Platform Technology to Develop an Anti-Corona (COVID-19) Immunoglobulin as a Potential Therapy for Severely Ill Coronavirus Patients 

    • Kamada is Leveraging its Successful Launch of KEDRAB® (Rabies Immunoglobulin [Human]) in the U.S. which Reached an Approximately 20% Market Share in 2019, to Expand its International Sales of the Product, Securing a Supply Tender in Canada and to The Pan American Health Organization (PAHO)

    • Kamada Received Notice of Allowance for a U.S. Patent Covering its Anti-Zika IgG Product Candidate for Treatment of Zika Virus Infection

    REHOVOT, Israel, March 11, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA), a commercial-stage plasma-derived biopharmaceutical…

    • Kamada Plans to Utilize its Hyper-Immunoglobulin (IgG) Platform Technology to Develop an Anti-Corona (COVID-19) Immunoglobulin as a Potential Therapy for Severely Ill Coronavirus Patients 

    • Kamada is Leveraging its Successful Launch of KEDRAB® (Rabies Immunoglobulin [Human]) in the U.S. which Reached an Approximately 20% Market Share in 2019, to Expand its International Sales of the Product, Securing a Supply Tender in Canada and to The Pan American Health Organization (PAHO)

    • Kamada Received Notice of Allowance for a U.S. Patent Covering its Anti-Zika IgG Product Candidate for Treatment of Zika Virus Infection

    REHOVOT, Israel, March 11, 2020 (GLOBE NEWSWIRE) -- Kamada Ltd. (NASDAQ & TASE: KMDA), a commercial-stage plasma-derived biopharmaceutical company, today provided an update on progress related to its proprietary hyper-immunoglobulin (IgGs) product portfolio and platform technology.

    Anti-Corona (COVID-19) Immunoglobulin
    Kamada plans to initiate the development of an Anti-Corona (COVID-19) polyclonal immunoglobulin using its proprietary plasma derived IgG platform technology as a potential treatment for severely ill coronavirus patients.

    The plasma-derived Anti-Corona (COVID-19) IgG product is expected to be produced from plasma derived from donors recovered from the virus, which is anticipated to include antibodies to the novel Corona virus (COVID-19). Kamada emphasizes that the development plan and manufacturing of the product are highly dependent on the availability of hyper-immune plasma and on the regulatory path to be defined with the health authorities.

    There can be no assurance that the planned development and manufacturing activities will be successful in a timely manner and will result in a safe, effective and approvable therapy.

    "The current global crisis resulting from the coronavirus outbreak calls for urgent highly-focused efforts to accelerate the development and manufacturing of potential treatments, especially for life threatening situations," said Amir London, Chief Executive Officer of Kamada. "Kamada intends to utilize its proven hyper-immune IgG development experience and proprietary technology platform to initiate the development of an Anti-Corona (COVID-19) IgG product. We are working with the Israeli regulatory authorities and local medical institutions to advance our program," concluded Mr. London.

    KAMRAB®/KEDRAB®
    Kamada's Anti-Rabies IgG product was launched in the U.S. in 2018 and is marketed by Kedrion S.p.A ("Kedrion") under the brand name KEDRAB. Kamada's revenues from sales of KEDRAB to Kedrion in 2019 were $16.4 million, an increase of approximately 39% over the $11.8 million generated in 2018. U.S. sales of KEDRAB by Kedrion in 2019 totaled $31.4 million, an increase of approximately 103% over the $15.5 million recorded in 2018. Moreover, KEDRAB's market share in the U.S. increased from approximately 10% in 2018 to approximately 20% in 2019. 

    "We are very pleased with the significant growth of KEDRAB sales in the U.S in 2019, and we anticipate continued growth in 2020 and beyond," said Mr. London.

    In addition, Kamada's Anti-Rabies IgG product, under the brand name KAMRAB, obtained marketing authorization in Canada in November 2018. Kamada and Valneva Canada Inc. engaged in a marketing and distribution agreement for KAMRAB in Canada, and pursuant to a recently awarded supply tender, expect to begin selling the product in Canada during 2020.  Moreover, Kamada was recently approved to supply KAMRAB through the 2019-2021 tender from the Pan American Health Organization (PAHO), the specialized international health agency for the Americas. KAMRAB sales through PAHO began in 2019, and are expected to continue in 2020 and 2021.

    Anti-Zika IgG
    On February 24, 2020, Kamada received a Notice of Allowance from the U.S. Patent and Trademark Office for patent application No. 16/118,847, titled "Therapy and Prophylaxis of Infectious Disease Caused by Zika Virus," covering therapy of Zika virus infection. The new patent, valid through 2037, covers a method of treatment comprising of polyclonal human immunoglobulins (IgG, antibodies) against the Zika virus. Kamada's pre-clinical data demonstrated a significant improvement in mortality and morbidity of Zika-infected mice receiving Kamada's Anti-Zika IgG product, as well as a significant reduction in viral load. The pre-clinical work was supported by the U.S. National Institutes of Health's National Institute of Allergy and Infectious Diseases (NIAID), and was recently presented at the 3rd International Conference of Zika Virus and Aedes Related Infections, which took place in February 13-16, 2020, in Washington, D.C.

    Zika is spread primarily through the bite of an infected Aedes mosquito. Zika can be passed from a pregnant woman to her fetus, which may cause birth defects, including severe brain damage, such as microcephaly. Zika infection during pregnancy is also associated with miscarriage, stillbirth, and other birth defects.

    About Kamada
    Kamada Ltd. ("the Company") is a commercial stage plasma-derived biopharmaceutical company focused on orphan indications, with an existing marketed product portfolio and a late-stage product pipeline. The Company uses its proprietary platform technology and know-how for the extraction and purification of proteins from human plasma to produce Alpha-1 Antitrypsin (AAT) in a highly-purified, liquid form, as well as other plasma-derived immune globulins. The Company's flagship product is GLASSIA® ("GLASSIA"), the first liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. FDA. The Company markets GLASSIA in the U.S. through a strategic partnership with Takeda Pharmaceuticals Company Limited and in other countries through local distributors. The Company's second leading product is KamRab, a rabies immune globulin (Human) for post-exposure prophylaxis against rabies infection. KamRab is FDA approved and is being marketed in the U.S. under the brand name KEDRAB® through a strategic partnership with Kedrion S.p.A. In addition to Glassia and KEDRAB, the Company has a product line of four other plasma-derived pharmaceutical products administered by injection or infusion, that are marketed through distributors in more than 15 countries, including Israel, Russia, Brazil, India and other countries in Latin America and Asia. The Company has late-stage products in development, including an inhaled formulation of AAT for the treatment of AAT deficiency. In addition, the Company's intravenous AAT is in development for other indications, such as GvHD and prevention of lung transplant rejection. The Company leverages its expertise and presence in the plasma-derived protein therapeutics market by distributing more than 20 complementary products in Israel that are manufactured by third parties. For the year ended December 31, 2019 the Company's total revenues were $127.2 million, adjusted EBITDA was $28.5 million and net income was $22.2 million.  As of December 31, 2019, the Company had cash, cash equivalents, and short-term investments of $73.9 million, and during February 2020 secured a $25 million private placement with the FIMI Opportunity Fund.

    Cautionary Note Regarding Forward-Looking Statements
    This release includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including statements regarding 1) the plan to develop an Anti-Corona (COVID-19) polyclonal immunoglobulin using Kamada's proprietary plasma derived IgG platform technology as a potential treatment of severely ill Coronavirus patients; 2) the expectation to manufacture the Anti-Corona (COVID-19) IgG from plasma derived from donors recovered from the virus, which is anticipated to include antibodies to the novel Corona virus (COVID-19); 3) the projection that the development plan and manufacturing of the Anti-Corona (COVID-19) IgG are highly dependent on the availability of hyper-immune plasma and on the regulatory path to be defined with the health authorities; 4) Kamada's anticipation that KEDRAB sales in the U.S will continue to grow during 2020 and beyond; 5) Kamada's expectation to commence KAMRAB sales in Canada during 2020; 6) Kamada's expectation to continue sales of KAMRAB to PAHO in the years 2020 and 2021; and 7) positive indications about Anti-Zika IgG regarding improvement in mortality, morbidity and viral load.  Forward-looking statements are based on Kamada's current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, effectiveness of Anti-COVID-19 IgG to treat coronavirus, ability of Kamada to receive regulatory clearance to manufacture and sale Anti-COVID-19 IgG and the timelines of receiving such regulatory clearance, availability of plasma derived from coronavirus convalescent donors, anticipation that such plasma would include antibodies to the novel coronavirus, availability of hyper-immune plasma in light of potential shortages due to the coronavirus outbreak, commercial success of KEDRAB in the U.S. market and KAMRAB in non-U.S. markets such as Canada and PAHO, additional competition in the markets that Kamada competes, regulatory delays, prevailing market conditions in general and specifically due to the effects of the COVID19 outbreak, corporate events associated with our partners and the impact of general economic, industry or political conditions in the U.S., Israel or otherwise. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

    CONTACTS:
    Chaime Orlev
    Chief Financial Officer

    Bob Yedid
    LifeSci Advisors, LLC
    646-597-6989

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