Welcome to our dedicated page for Kamada Ltd. news (Ticker: KMDA), a resource for investors and traders seeking the latest updates and insights on Kamada Ltd. stock.
Kamada Ltd. (KMDA) is a leading biopharmaceutical company that specializes in plasma-derived protein therapeutics, targeting orphan indications. Utilizing its proprietary platform technology, Kamada excels in the extraction and purification of proteins from human plasma, producing highly-purified, liquid forms of alpha-1 antitrypsin (AAT) and other plasma-derived proteins. AAT is recognized for its immunomodulatory, anti-inflammatory, tissue-protective, and antimicrobial properties.
One of Kamada's flagship products is Glassia®, the first and only liquid, ready-to-use, intravenous plasma-derived AAT product approved by the U.S. Food and Drug Administration (FDA). Kamada markets Glassia in the U.S. through a strategic partnership with Baxter International. In addition to Glassia, Kamada offers a diverse product portfolio, including nine other pharmaceutical products distributed globally.
Kamada's robust late-stage product pipeline underscores its commitment to innovation in the specialty therapeutics market. The company operates through two primary segments: the Proprietary Products segment and the Distribution segment, with the majority of revenue derived from the Proprietary Products segment. Kamada's product categories encompass lung diseases, vaccines, hemophilia, immunoglobulins, critical care, and diagnostics.
Recently, Kamada announced a significant development in its strategic partnership with Kedrion Biopharma. The companies have executed a binding memorandum of understanding for an 8-year extension of the KEDRAB® US distribution agreement, starting January 2024. This agreement includes potential expansion of Kedrion's distribution of KEDRAB® beyond the U.S. and collaboration on expanding Kedrion products' distribution in Israel.
KEDRAB® is a Human Rabies Immune Globulin (HRIG) used for passive, transient post-exposure prophylaxis (PEP) of rabies infection, approved by the FDA in August 2017. The agreement signifies a significant milestone for Kamada, maximizing the future growth and value potential of this important product. Kamada continues to prioritize patient care and remains a pivotal player in the plasma-derived therapies sector.
Kamada reported strong first quarter 2024 financial results with a 23% increase in revenues and a 96% rise in profitability. The company's top-line growth was driven by U.S. sales of KEDRAB® and CYTOGAM®. Kamada increased its full-year revenue guidance to $158-162 million and adjusted EBITDA to $28-32 million. The company remains optimistic about its growth prospects beyond 2024.
Kamada will announce its first quarter 2024 financial results on May 8, 2024, before the U.S. financial markets open. The company, known for its rare condition treatments, will host an investment community conference call to discuss the results.
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