Kamahda earned $ 1.6 million in the fourth quarter of 2020 compared to a profit of $ 5.4 million

Kamahda earned $ 1.6 million in the fourth quarter of 2020 compared to a profit of $ 5.4 million in the same period last year. The decrease in profit is due to an increase in operating expenses and a decrease in revenues. Total revenue totaled $ 31.5 million in the fourth quarter of 2020, down 2% from $ 32.1 million recorded in the fourth quarter of 2019.
Total revenue in 2020 was $ 133.2 million, according to the revenue forecast the company gave; Adjusted EBITDA in 2020 was $ 25.1 million. Kamahda entered the US plasma collection market through the acquisition of an active and FDA approved plasma collection center, this acquisition promotes the company's strategy to become a unique and unique plasma products company focused on expanding its antibody preparation portfolio. The acquisition of the company increased expenses and offset the decrease in expenses arising from the corona period.
The company predicts a continued decrease in total and profitable revenues in 2021. At the same time, the company wishes to emphasize that it is focusing on expanding its existing growth engines, which include: Continued growth in the market share of the anti-rabies antibody preparation (KedRAb) in the United States. New International. Royalties are expected from Galicia sales in the U.S. estimated at between $ 10 million and $ 20 million per year, starting in 2022.
Launch of a portfolio of nine biosimilar products for distribution in Israel between 2022 and 2025, following regulatory approval, and the maximum total revenue from their sale is expected to be between $ 25 million and $ 35 million.
Utilizing the manufacturing facility and the company's experience in providing manufacturing services for unique antibody preparations, including an FDA-approved antibody preparation marketed in the US which is expected to add about $ 8 million to $ 10 million to Kamhada's annual revenue, starting in 2023.
The Israeli Ministry of Health has begun treatment of hospitalized corona patients using Kamahada's plasma-based experimental antibody preparation (IgG), which is given mainly as part of a multicenter clinical trial led by the ministry; The current supply volume of the drug is expected to be sufficient to treat about 500 patients.
Amir London, CEO of KM "We are pleased with our ability to address the operational challenges posed by the global Corona epidemic and our ability to meet our key financial targets for 2020," said Amir London, CEO of KamaDa. "Total revenue in 2020 amounted to $ 133.2 million, in line with our annual forecast which was between $ 132 million and $ 137 million. Revenue in 2020 represents a 5% increase over revenue in 2019. These results are a result of the company's core strengths." .