Kamada Ltd (NASDAQ:KMDA), a pharmaceutical company, announced today that it will release its financial results for the second quarter and the first half of the year ended June 30, 2024, on Tuesday, August 14, 2024. The company plans to host a conference call following the announcement to discuss the financial results and provide a corporate update.
The Israel-based company, listed on the NASDAQ under the ticker KMDA, specializes in the development and production of pharmaceutical preparations. Kamada operates globally, leveraging its proprietary technology platform to create a robust product pipeline.
This announcement was made through a Form 6-K filing with the U.S. Securities and Exchange Commission (SEC), which serves as a report of foreign private issuers under rules 13a-16 and 15d-16 of the Securities Exchange Act of 1934. The Form 6-K is also incorporated by reference into the company's Form S-8 Registration Statements, indicating its compliance with U.S. securities law requirements for reporting.
The information is based on a press release statement.
In other recent news, Kamada Limited has exhibited strong Q1 2024 financial performance with revenues reaching $37.7 million, marking a 23% increase year-over-year, and adjusted EBITDA rising by 96% to $7.5 million. These results were largely driven by the success of key products KEDRAB and CYTOGAM, and the launch of BEVACIZUMAB KAMADA in Israel.
Consequently, the company has updated its full-year revenue and adjusted EBITDA guidance.
In addition to these financial developments, Stifel initiated coverage on Kamada with a Buy rating and an $18.00 price target, emphasizing Kamada's diverse portfolio of plasma-based therapeutics and its unique market position. The firm's analysis also highlighted Kamada's ongoing development of Inhaled alpha-1 antitrypsin (AAT) for the treatment of AAT deficiency, a potential area of growth for the company.
Kamada is also actively exploring business development opportunities in plasma-derived and transplantation areas, with plans to launch another biosimilar product by late 2024 or early 2025. The company anticipates feedback from the FDA on the Inhaled AAT program later this year.
InvestingPro Insights
As Kamada Ltd (NASDAQ:KMDA) prepares to unveil their mid-year financial results, insights from InvestingPro could offer investors a clearer picture of the company's financial standing. With a market capitalization of $306.57 million and a price-to-earnings (P/E) ratio of 22.53, Kamada appears to be maintaining a stable market position. The company's revenue growth is particularly noteworthy, with a 13.33% increase over the last twelve months as of Q1 2024, and an even more impressive quarterly revenue growth of 22.88% for Q1 2024.
InvestingPro Tips highlight Kamada's solid financial structure, as the company holds more cash than debt on its balance sheet and liquid assets that exceed short-term obligations. This financial resilience is coupled with a low price volatility in its stock trading, suggesting a potentially lower risk profile for investors. Additionally, analysts predict Kamada will be profitable this year, a projection supported by the company's profitability over the last twelve months.
For those seeking further insights, there are additional InvestingPro Tips available that can provide deeper analysis and guidance. To explore these further, visit https://www.investing.com/pro/KMDA for a comprehensive look at Kamada's financial metrics and expert evaluations.
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