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| Statement |
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| Importantly, we expect our robust commercial performance to meaningfully contribute to our strong financial position and our ability to drive growth across the business |
| We're nearly 3 years post approval of ARCALYST for the treatment of recurrent pericarditis and our commercial execution has been robust, driving net revenue growth every single quarter since launch and provide an increasing collaboration profitability |
| So as outlined in the prepared remarks, we've seen good steady growth in the repeat prescriber base |
| We're very encouraged with the commercial execution to date which is underscored by growing prescriber adoption and increased duration, as well as continued high patient satisfaction and payer approvals |
| Additionally, we've continued to observe robust payer approval rates of greater than 90% for all completed cases |
| But we have increased the field team and feel pretty good about that and the number of physicians that we can cover |
| Additionally, at the end of 2023, greater than 40% of all new prescriptions within the year came from repeat prescribers, demonstrating an increasingly meaningful contribution from this steadily growing group of physicians |
| So pretty excited about the opportunity we've got ahead on both the new and repeat prescribers, Anupam |
| The ARCALYST commercialization continues to see meaningful growth with Q4 net product revenue of $71.2 million, putting us at $233.2 million for the past year |
| Consistent execution in both commercial and clinical settings throughout 2023 has put us in a strong position to further advance our business in the year ahead |
| As we have continued analyzing the data package from the first 3 cohorts, we are confident that abiprubart is a highly active and well-tolerated molecule and has strong potential to reduce autoantibody production, as evidenced by the greater than 40% reduction in rheumatoid factor observed in both cohort 3 dose levels |
| Yes and we continue to see good growth in both new prescribers and repeat prescribers as of the end of 2022 |
| This underscores the progress we've made since launch as well as the significant opportunity we have in the years ahead to drive much greater growth into the patient population that we can support with ARCALYST |
| As you've heard this morning, we expect 2024 to be another exciting year for Kiniksa and our execution in 2023 has put us on the path to continued commercial success and advancing our portfolio in the year ahead |
| Encouragingly, as time passes since the initial prescription and further patients are identified, we've seen a steady growth in prescribers who have written for 2 or more patients |
| To do this, we're very focused on targeting where we believe the multiple recurrent patients are, as well as ensuring that both physicians and their patients have a positive experience when initiating ARCALYST and throughout the course of the disease |
| In the fourth quarter, ARCALYST net revenue grew to $71.2 million, representing nearly 80% growth versus Q4 of 2022 |
| We clearly have an exciting year ahead of us and we're very much looking forward to providing additional updates in the future |
| And we believe we are strategically positioned to do that |
| Abiprubart was also well tolerated in this cohort |
| In cohorts 1 and 2, the PK lead-in, multiple doses of abiprubart were well tolerated and enabled the proof-of-concept portion of the study |
| We continue to expect these reserves as well as strong ARCALYST commercial execution to fund our current operating plan into at least 2027 |
| ARCALYST collaboration operating profit for the full year 2023 was $113 million, representing over 210% year-over-year growth and leading to collaboration expenses of $56.5 million |
| Fourth, net income for the fourth quarter and full year 2023 was $25.2 million and $14.1 million, respectively, aided by both collaboration revenue as well as the treatment of our noncash deferred tax assets |
| Third, higher cost of goods sold and collaboration expenses, both of which are largely driven by ARCALYST revenue growth as well as the advancement of the abiprubart Phase II trial in rheumatoid arthritis and investment related to ARCALYST commercialization drove year-over-year operating expense growth for both the fourth quarter and full year 2023 |
| I mean I think as you said, we were very encouraged by the data we had from cohorts 1, 2 and 3 which really largely has given us sort of a go signal to move forward with that program in an additional indication |
| First, total revenue for the fourth quarter was $83.4 million, including ARCALYST net product revenue of $71.2 million, representing nearly 80% growth year-over-year and collaboration revenue of $12.2 million driven primarily by the recognition of a $10 million development milestone for a second new indication under the Genentech license agreement for vixarelimab |
| Then as you can see on the right-hand side of this slide, over time, we also see a steady increase in the number who have written for 3, 4 or more patients |
| This revenue growth was driven by our strategy to increase the awareness of recurrent pericarditis and ARCALYST across the U.S |
| Total revenue for the full year 2023 was $270.3 million, including ARCALYST net product revenue of $233.2 million representing approximately 90% year-over-year growth and collaboration revenue of $37.1 million from the Genentech license agreement |
| Statement |
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| The 5-milligram per kilo biweekly dose group did not achieve statistical significance, although a higher-than-expected placebo rate was observed |
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