Investors Focused Stock: Kadmon Holdings, Inc. (NYSE-KDMN)

On Thursday, Kadmon Holdings, Inc. (NYSE-KDMN) shares price traded between $2.1300 and $2.2800 during the last trading session upbeat/downbeat with -4.44% at $2.1500. The shares recorded a trading volume 440,358 million shares as compared to its average volume of 825,793 shares.

Kadmon Holdings, Inc. (KDMN) recently provided a business update and stated financial and operational results for the first quarter of 2019.

Recent Business Highlights

Kadmon strengthened its leadership team with the naming of three new members of the Board of Directors and the addition of a key executive:

  • David E. Cohen, M.D., MPH, was designated to the Board of Directors in February 2019. Dr. Cohen is the Charles C. and Dorothea E. Harris Professor of Dermatology at New York University School of Medicine, where he also serves as Chief of Allergy and Contact Dermatitis, Vice Chairman of Clinical Affairs, and Director of Occupational and Environmental Dermatology.
  • Arthur Kirsch has been nominated to stand for election to the Board of Directors at the 2019 Yearly Meeting of Stockholders to be held on May 15, 2019. Mr. Kirsch has over 40 years of experience leading global healthcare research and investment banking operations, including his current role as Senior Advisor and Head of Healthcare at GCA Global, an investment bank.
  • Cynthia Schwalm was designated to the Board of Directors in January 2019. Ms. Schwalm has extensive pharmaceutical industry experience, having held management roles at Johnson & Johnson, Amgen and Eisai, and most recently served as President and CEO of Ipsen North America.
  • Steven Meehan was named Executive Vice President, Chief Financial Officer in February 2019. Mr. Meehan, who has served as a member of the Board of Directors at Kadmon since 2017, has over 25 years of financial leadership experience spanning corporate strategy, mergers and acquisitions, capital raising and financial planning and analysis.

Financial Results

First Quarter 2019 Results

Loss from operations for the three months ended March 31, 2019 was $22.7M, contrast to $17.9M for the same period in 2018.

Research and development expenses for the three months ended March 31, 2019 were $15.0M, contrast to $9.8M for the same period in 2018. The raise in research and development expenses was primarily related to the development of KD025, our most advanced product candidate, as well as the development of KD045 and KD033.

Selling, general and administrative expenses for the three months ended March 31, 2019 were $7.9M, contrast to $8.3M for the same period in 2018.

Liquidity and Capital Resources

At March 31, 2019, Kadmon’s cash and cash equivalents totaled $99.4M, contrast to $94.7M at December 31, 2018. In addition, as of March 31, 2019, Kadmon maintained about 10.7% ownership of ordinary stock of MeiraGTx Holdings plc, a publicly-traded (Nasdaq:MGTX), clinical-stage gene therapy company.

The company has price to cash ratio of 2.80 while gross profit margin was measured as 69.50%. Sales growth past 5 years was measured at -51.40%. EPS growth for this year is 59.30% and EPS growth for next year is expected to reach at 11.10%.

Leave a Reply

Your email address will not be published. Required fields are marked *