Knight Therapeutics Reports First Quarter 2026 Results

Knight Therapeutics Inc. (TSX: GUD), a pan-American pharmaceutical company, reported first-quarter 2026 financial results showing revenues of $148.4 million, up 69% from the same period last year. The growth was primarily fueled by incremental revenue from the Paladin and Sumitomo portfolios, as well as increased sales of promoted products and higher purchasing patterns for Ambisome deliveries to the Ministry of Health. Gross margin improved to 47% from 40% in Q1 2025, driven by stronger Canadian business contributions and reduced hyperinflation impact, though partially offset by product mix shifts. Operating income turned positive at $10.6 million, reversing a $5.5 million loss in Q1 2025, while net income rose to $13.2 million from $2.2 million. Adjusted EBITDA reached a record $27.9 million, up 130% year-over-year, with adjusted EBITDA per share at $0.28. The company generated $40.7 million in cash flow from operations and ended the quarter with over $125 million in cash and equivalents. Knight Therapeutics also announced key corporate developments, including an agreement to acquire a manufacturing facility in Argentina. It repurchased 1.32 million common shares under a previously announced plan, spending $8.2 million at an average price of $6.22. Additionally, the company repaid $10 million of its revolving credit facility, leaving $58 million in outstanding bank loans. On the product front, Knight Therapeutics executed settlement agreements to divest non-core Canadian commercial rights for six products, receiving $21.5 million in return. It also finalized a $8.4 million payment to Paladin for a holdback settlement in April 2026. Regulatory submissions are underway for Niktimvo (axatilimab) in Brazil and a supplemental indication for Minjuvi (tafasitamab) in another territory. The company raised its 2026 revenue guidance to $525 million from the prior estimate of $510 million, reflecting strong financial momentum. Trailing twelve-month adjusted revenues reached $512 million, a 39% increase from the same period last year.