Kiniksa raises Arcalyst sales outlook to $1.050 billion after 58% growth
Key Facts
Kiniksa Pharmaceuticals raised its 2026 net revenue outlook for Arcalyst to a range of $1.045 billion to $1.050 billion, from a previous range of $980 million to $995 million, after treatment sales reached $286.0 million in the third quarter, up about 58% year over year. The company said in its earnings release that the new outlook reflects Arcalyst's performance. Arcalyst is rilonacept, a treatment for pericarditis. The estimate puts expected annual revenue above $1 billion, but remains a company forecast rather than a realized result. EL7 data showed Kiniksa shares, listed under the ticker KNSA, closing at $72.98 on October 26, compared with $76.73 on October 23. In contrast, Investing.com reported that the stock rose 17.84% to $86 in premarket trading on October 27, compared with the previous close of $72.98.
Kiniksa's total revenue was $286.0 million in the third quarter of 2026, compared with $180.9 million in the same period of 2025. Net income rose to $47.3 million from $18.4 million a year earlier. The year-over-year comparison shows revenue and income growth during the period, while the company's release gives actual figures without providing analyst estimates against which to measure the results. Arcalyst revenue was central to the quarter's performance, matching the net revenue the company reported for the product. Kiniksa said Arcalyst net sales grew about 58% year over year.
Chief Executive Sanj Patel linked commercial growth to broader use of the treatment among patients and physicians. He said about 23% of a group the company estimates at about 14,000 patients annually who experience recurrent pericarditis were receiving Arcalyst at the end of the third quarter. The figure measures the share of patients receiving treatment within that group, while the patient count remains the company's annual estimate. Since the drug's launch, more than 5,450 prescribers have written Arcalyst prescriptions for recurrent pericarditis. The average treatment duration for this condition was about 3 years at quarter-end, according to the release.
Operating expenses were $231.7 million in the third quarter, including $105.8 million in collaboration expenses. Kiniksa said collaboration expenses are primarily tied to the profitability of its Arcalyst collaboration, which was discovered by Regeneron, and whose sales are reflected in the collaboration. These expenses provide context for reading the product's results alongside revenue, as they are tied to the collaboration's activity and profitability, according to the company. As of September 30, 2026, Kiniksa had $568.8 million in cash, cash equivalents and short-term investments, and no debt. It also said it expects its current operating plan to continue generating positive cash flow on an annual basis.
Alongside Arcalyst's commercial performance, Kiniksa continues to enroll and dose participants in the pivotal Phase 3 PASTORALE trial of its investigational treatment KPL-387. The company expects trial data in the second half of 2027. It said its goal is to make this treatment option available to patients during 2028 or 2029. These dates mark future development milestones separate from Arcalyst's current revenue and its 2026 outlook. The data release in the second half of 2027 is the next milestone the company has set for the program.