Kamada Halts Phase 3 Trial for Genetic Disorder, Reaffirms Future Projections
Trial Discontinuation: Kamada Ltd. has announced the discontinuation of its Phase 3 InnovAATe trial for Inhaled AAT aimed at treating Alpha-1 Antitrypsin Deficiency (AATD) due to low likelihood of demonstrating significant efficacy in improving lung function.
Stock Impact: Following the announcement, Kamada's stock experienced a decline of 5.51%, reflecting bearish market sentiment.
Future Outlook: Despite the trial setback, Kamada's CEO expressed confidence in the company's growth prospects, reiterating revenue guidance for 2025 and projecting double-digit growth in revenues and profitability for 2026.
Business Development Focus: Kamada plans to leverage its strong cash position to pursue new business development opportunities while continuing to expand its commercial portfolio, which includes FDA-approved products and a growing biosimilar portfolio.
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Kamada Forecasts $200M-$205M Revenue for 2026 with 13% Growth
- 2026 Financial Outlook: Kamada projects revenues of $200 million to $205 million for 2026, representing a 13% year-over-year increase based on the midpoint of 2025 guidance, highlighting the company's ongoing organic growth potential across its diverse product portfolio in the biopharmaceutical sector.
- Adjusted EBITDA Growth: The company anticipates adjusted EBITDA to reach $50 million to $53 million in 2026, reflecting a 23% increase from the midpoint of 2025, which signifies a substantial enhancement in profitability and boosts investor confidence.
- Strong Cash Position: Kamada expects to end 2025 with approximately $75 million in cash, ensuring financial flexibility for future investments and business expansions, thereby strengthening its competitive edge in global markets.
- Strategic Development Focus: The company will continue to prioritize new business development and M&A transactions to accelerate long-term profitable growth, a strategy that will enrich its marketed product portfolio and generate synergies with existing operations.
