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1. Company Snapshot

1.a. Company Description

Knight Therapeutics Inc., a specialty pharmaceutical company, develops, acquires, in-licenses, out-licenses, markets, and distributes pharmaceutical and consumer health products, and medical devices in Canada, Latin America, and internationally.It offers Nerlynx for extended adjuvant breast cancer and metastatic breast cancer; Tafasitamab for relapsed or refractory diffuse large B-cell lymphoma; Pemigatinib to treat metastatic cholangiocarcinoma; Trelstar for advanced prostate cancer and for pain associated with endometriosis; Vidaza for myelodysplastic syndrome; Abraxane for metastatic pancreatic adenocarcinoma; Halaven for metastatic breast cancer and doft tissue sarcoma; and Lenvima for differentiated thyroid cancer, advanced renal cell cancer, and unresectable hepatocellular carcinoma.The company also provides Ladevina for multiple myeloma, myelodysplastic syndrome, mantle cell lymphoma, and follicular lymphoma; Zyvalix for metastatic prostate cancer; Karfib for relapsed or refractory multiple myeloma; Leprid for advanced prostate cancer; Rembre for chronic myeloid leukemia; Ambisome and Cresemba for fungal infection; Impavido for leishmaniasis; Exelon for mild to moderately severe dementia; and Ibsrela for the treatment of irritable bowel syndrome with constipation.


In addition, it offers Salofalk for ulcerative colitis; Ursofalk to treat biliary cirrhosis; Imvexxy for moderate to severe dyspareunia; Bijuva for moderate to severe vasomotor symptoms associated with menopause in women with intact uteri; Fibridoner to treat idiopathic pulmonary fibrosis; Toliscrin DPI for pseudomonas aeruginosa lung infection in patients with cystic fibrosis; Toliscrin 1-2 for severe acute or resistant chronic infections; and Tobradosa Haler for chronic lung infections.Further, the company finances other life science companies; and invests in life sciences venture capital funds.Knight Therapeutics Inc.


was incorporated in 2013 and is headquartered in Montreal, Canada.

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1.b. Last Insights on GUD

Here is a 90-word analysis of the positive drivers behind Knight Therapeutics' recent stock performance: Individual investors, who own 41% of the shares, and insiders, with high ownership, demonstrate confidence in the company's future prospects. Recently, Knight Therapeutics expanded its relationship with Helsinn Healthcare, entering into an exclusive license, distribution, and supply agreement for Onicit. The company also filed a New Drug Submission for Qelbree in Canada and received regulatory approval for TAVALISSE in Mexico, enhancing its product portfolio. These developments suggest a strong foundation for future growth.

1.c. Company Highlights

2. Knight Therapeutics' Q3 2025 Earnings: A Strong Performance

Knight Therapeutics reported a robust financial performance in Q3 2025, with revenues reaching $122.6 million, a 34% increase compared to the same period last year. The company's adjusted EBITDA was $21 million, a 56% increase year-over-year. The adjusted gross margin was $59.9 million, up from $43 million in Q3 2024. However, the actual EPS came out at -$0.04, missing estimates of $0.01.

Publication Date: Nov -18

📋 Highlights
  • Record Revenues & EBITDA: 9M25 adjusted revenues hit $319M (+18% YoY), and adjusted EBITDA reached $49M.
  • Organic Growth Drivers: Promoted products grew 12% organically (C$18M) and 18% overall (C$48M YoY), driven by Paladin/Sumitomo deals.
  • Oncology Expansion: In-licensed 2 Incyte drugs (retifanlimab, axatilimab) for LatAm and launched JORNAY PM, MINJUVI, PEMAZYRE in 4 countries.
  • Regulatory Setbacks: TAVALISSE rejected by Anvisa (Brazil), Qelbree noncompliant in Canada; both under appeal/refiling for 2026 approval.
  • Q3 Financial Outperformance: Q3 2025 revenues surged 34% to $122.6M, with adjusted EBITDA up 56% to $21M ($7.5M increase).

Revenue Growth Drivers

The revenue growth was driven by the company's promoted products, which delivered organic growth of 12% on a constant currency basis. The oncology and hematology portfolio generated $38.3 million in revenues, while the infectious disease portfolio delivered $37.2 million, a 10% increase year-over-year. The other specialty therapeutic area saw a significant increase of 127% to $47.1 million.

Operational Highlights

The company continued to strengthen its oncology portfolio, expanding its partnership with Incyte by in-licensing the LatAm rights to two innovative drugs. Knight Therapeutics also advanced its pipeline with the launches of three products in multiple countries. However, the company faced setbacks with TAVALISSE and Qelbree, which received rejections from health agencies in Brazil and Canada, respectively.

Outlook and Valuation

Knight Therapeutics increased its financial outlook for fiscal 2025, expecting revenues between $430 million and $440 million. The company's EV/EBITDA ratio is 12.28, indicating a relatively reasonable valuation. The P/S Ratio is 1.59, which is also reasonable considering the company's growth prospects. Analysts estimate next year's revenue growth at 7.7%, which may lead to a re-rating of the stock.

Cash Flow and Investments

The company's cash flow is expected to be lumpy due to inventory and purchasing commitments, with a target of 60-80% cash flow as a percentage of EBITDA. Knight Therapeutics is planning to invest in new products, which may impact its EBITDA margin expansion in 2026. As Samira Sakhia mentioned, "we'll guide on 2026 in March, but expect more investments in new products."

3. NewsRoom

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TSX Growth Companies With High Insider Ownership In November 2025

Nov -25

Source:

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Profound Medical Seals Deal With Saudi Company to Distribute Tulsa-Pro

Nov -11

Source:

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Profound Medical Up 3.8% In US After Hours As It Regains Canadian Rights to TULSA-PRO System

Nov -10

Source:

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Profound Medical Regains Exclusive Distribution Rights for TULSA-PRO® in Canada from Knight

Nov -10

Source:

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Knight Therapeutics Reports Third Quarter 2025 Results

Nov -06

Source:

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Knight Announces Closing of US$100 Million Revolving Credit Facility

Oct -31

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Knight Therapeutics Announces Launch of JORNAY PM™ in Canada

Oct -30

Source: globenewswire.com

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Knight Therapeutics Announces Approval and Launch of MINJUVI® (tafasitamab) in Argentina

Oct -30

Source: globenewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (8.10%)

6. Segments

Pharmaceutical Products, Consumer Health Products and Medical Devices

Expected Growth: 8.1%

Increasing demand for prescription medicines, growing self-medication trend, and advancements in medical equipment and supplies drive growth in Knight Therapeutics' segments.

7. Detailed Products

Neuramis

A hyaluronic acid-based dermal filler used for facial aesthetic treatments

Synergo

A topical cream used to treat pain and inflammation

Impavido

An oral medication used to treat leprosy

ITC-307

An oral medication used to treat Fabry disease

Firazyr

An injectable medication used to treat hereditary angioedema

8. Knight Therapeutics Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for Knight Therapeutics Inc. is medium due to the presence of alternative treatments and therapies for the diseases they are targeting.

Bargaining Power Of Customers

The bargaining power of customers is low due to the specialized nature of Knight Therapeutics Inc.'s products and the lack of alternatives.

Bargaining Power Of Suppliers

The bargaining power of suppliers is medium due to the presence of multiple suppliers for raw materials and the company's dependence on them.

Threat Of New Entrants

The threat of new entrants is high due to the growing demand for innovative therapies and the presence of venture capital funding for biotech startups.

Intensity Of Rivalry

The intensity of rivalry is high due to the presence of established players in the biotech industry and the high stakes involved in developing innovative therapies.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 7.85%
Debt Cost 6.26%
Equity Weight 92.15%
Equity Cost 6.26%
WACC 6.26%
Leverage 8.51%

11. Quality Control: Knight Therapeutics Inc. passed 3 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
SIGA Technologies

A-Score: 7.7/10

Value: 6.4

Growth: 8.0

Quality: 9.5

Yield: 10.0

Momentum: 9.0

Volatility: 3.3

1-Year Total Return ->

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Stock-Card
Knight Therapeutics

A-Score: 5.4/10

Value: 5.8

Growth: 6.6

Quality: 4.3

Yield: 0.0

Momentum: 6.5

Volatility: 9.3

1-Year Total Return ->

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Stock-Card
Esperion Therapeutics

A-Score: 5.2/10

Value: 9.0

Growth: 5.9

Quality: 6.1

Yield: 0.0

Momentum: 9.0

Volatility: 1.0

1-Year Total Return ->

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Stock-Card
ANI Pharmaceuticals

A-Score: 5.0/10

Value: 4.3

Growth: 6.0

Quality: 4.4

Yield: 0.0

Momentum: 9.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Collegium Pharmaceutical

A-Score: 4.9/10

Value: 5.3

Growth: 8.7

Quality: 6.1

Yield: 0.0

Momentum: 3.5

Volatility: 5.7

1-Year Total Return ->

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Stock-Card
Evolus

A-Score: 4.1/10

Value: 9.2

Growth: 7.2

Quality: 6.2

Yield: 0.0

Momentum: 0.0

Volatility: 2.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

6.05$

Current Price

6.05$

Potential

-0.00%

Expected Cash-Flows