By JE Insights, Benzinga

DETROIT, MICHIGAN - March 14, 2025 (NEWMEDIAWIRE) - Despite significant advancements in medical technologies and pharmaceutical advancements, certain conditions can only be addressed via plasma-derived medicines. This is especially the case for many rare and serious diseases, providing a distinct edge for pharmaceutical innovator Kamada Ltd. (NASDAQ: KMDA) (TASE: KMDA.TA). Focused on the development, manufacturing and commercialization of specialty plasma-derived therapeutics, Kamada extends a lifeline for many patients struggling with rare and serious disorders.

According to the Plasma Protein Therapeutics Association (PPTA), plasma is the “single largest component of human blood that acts as a transporting medium for cells and a variety of substances vital to the human body.” Beyond its composition – which consists of water, salts, enzymes, antibodies and other proteins – plasma helps execute several critical functions.  Notably, its antibodies and proteins are essential in developing specialty therapies that fight diseases, making plasma the backbone of numerous treatments.

Indeed, plasma-derived medicines represent the only viable solution for certain rare diseases – and Kamada delivered substantive results that underscore its relevance in the field. 

Recently, the biopharma specialist posted record-breaking financial metrics in its 2024 annual report. Furthermore, management forecasted continued double-digit growth outlook for the new year, along with revealing expansion efforts in both operations and global markets.

On a fundamental level, Kamada continues to advance its corporate initiatives to advance its commercial operations, as demonstrated in the recent announcements. Combined with the robust financials, management aims for continued double-digit growth in 2025 and beyond.

Kamada Achieves Record-Breaking Financial Performance In 2024

On March 5, Kamada moved the needle forward with a financial disclosure that represented a record in both the top and bottom lines. Kamada reached an annual revenue of $161 million in 2024, a metric that exceeded the prior year’s result by 13%. Moreover, adjusted EBITDA landed at $34.1 million, up 42% on a year-over-year basis and demonstrating improved operational efficiency.

Another highlight was the net income for 2024 reaching $14.5 million or 25 cents per diluted share of KMDA stock. This figure represented a 75% boost against the prior year’s result, showcasing bottom-line strength. Furthermore, cash flow from operations hit $47.6 million, lifting the company’s cash balance to $78.4 million at the end of last year.

On a more granular level, gross profit and gross margins clocked in at $70 million and 43%, respectively, for the year ending Dec. 31, 2024. These metrics compare favorably to 2023’s gross profit of $55.5 million and gross margin of 39%. Per Kamada’s press release, the increase in these profitability figures primarily stemmed from an increase in sales volume and an improved product and territory sales mix.

Finally, management announced the payment of a special cash dividend of 20 cents per share. The justification for the passive income, according to the press release, was Kamada’s “strong financial results for 2024 and solid cash position.”

Looking Ahead To Double-Digit Growth In 2025

Early this year, Kamada announced that it expects continued double-digit growth – all while maintaining profitability – for 2025. Per recent publications by the company, management is expecting the total 2025 revenue to land between $178 million and $182 million. If so, the top line would expand by around 12% on a year-over-year basis. 

Naturally, the core revenue drivers will be Kamada’s six plasma-derived specialty therapies, which have been approved by the U.S. Food and Drug Administration (FDA). Among them, KEDRAB® – a human rabies immune globulin (HRIG) therapeutic for the treatment of potential rabies exposure – offers additional revenue potential due to the heightened demand that it experienced.

As well, Kamada’s CYTOGAM® – an immunoglobulin product that helps prevent complications stemming from cytomegalovirus (CMV) infections after an organ transplant – has also witnessed an uptick in sales. For context, CMV infection in immunocompromised solid organ transplant patients can be severe and life-threatening.

Another key sales driver is the expansion of biosimilar launches in Israel. Kamada launched its first biosimilar product in Q1 2024 and two additional products are expected to be launched in Israel during 2025. Additional biosimilar products are expected to be launched in Israel over the coming years, at a rate of 1-3 products per year, with the portfolio expected to generate annual sales of $15-20M within the next five years.

In the most recent press release, Kamada provided an update on the phase 3 trial of its inhaled alpha-1 antitrypsin (AAT) therapy. This therapeutic addresses AATD, a genetic disorder that results in a deficiency of the alpha-1 antitrypsin protein, potentially leading to lung damage and chronic obstructive pulmonary disease (COPD). With Kamada estimating market potential exceeding $2 billion, this therapy, if approved, represents a significant commercial opportunity.

Lastly, Kamada intends to expand its plasma collection operations, with the highlight being the opening of a new facility by the end of the first quarter – its third one overall. Should efforts move according to plan, the additional collection center, once fully operational, should help contribute revenue to the tune of $8 million to $10 million annually.

Taking a broader view, the third collection facility – to be opened in San Antonio, Texas – should help reduce reliance on third-party plasma suppliers. In addition, the company says expanding the collection footprint will help boost third-party plasma sales, enabling Kamada to benefit from greater financial flexibility.

Global Expansion And Business Development

Extending beyond the financial milestones and enhanced operational efficiencies, Kamada has undergone extensive efforts to broaden its reach globally. Earlier this year, the company secured a $25 million contract to supply KAMRAB®, a post-exposure rabies treatment, and VARIZIG®, an anti-varicella drug for high-risk individuals, in South America over the next three years. This agreement strengthens Kamada’s presence in an important emerging market while underscoring its ability to secure long-term commercial deals. Notably, the terms of the agreement span from 2025 through 2027 and will contribute meaningfully to the company’s revenue stream. 

At the same time, Kamada is actively pursuing strategic mergers and acquisitions and business development opportunities. Backed by a solid cash position, the biopharmaceutical firm is looking to in-license new products that complement its existing portfolio. Management designed this strategy to accelerate revenue growth while ensuring long-term sustainability.

As Kamada CEO Amir London remarked, the in-licensing and other business development initiatives could generate commercial and potentially operational synergies with the company’s current portfolio. Regarding the South America strategy, London stated that the move “validates the global strength” of the biopharma firm’s specialty immunoglobulin portfolio and should support its projected multi-year growth outlook.

Cultivating Growth In Advanced Plasma-Based Therapeutics

Kamada’s financial performance, expanding global footprint and commitment to innovation reinforce its standing in the plasma-derived therapeutics market. With record-breaking results in 2024 and a clear path to continued growth in 2025, the company is confident it has positioned itself for long-term success.

Through strategic business development and commercial expansion, Kamada continues to strengthen its market presence. Supported by a disciplined operational approach, the company remains focused on advancing its portfolio and executing its growth strategy.

Featured image from Shutterstock Library.

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This post includes forward-looking statements within the meaning of Section 21E of the U.S. Securities Exchange Act of 1934, as amended, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts, including (among others) statements regarding: 1) double digit profitable growth in 2025 while maintaining profitability, with revealing expansion efforts in both operations and global markets, 2) full-year 2025 revenue guidance of $178 million to $182 million, 3) expectations that the core revenue drivers will be Kamada’s six FDA approved plasma-derived specialty therapies, among them, KEDRAB, which would offer additional revenue potential due to the heightened demand that it experienced; 4) expansion of biosimilar launches in Israel at a rate of 1-3 products per year, with the portfolio expected to generate annual sales of $15-20M within the next five years, 5) securing strategic merger and acquisitions and business development opportunities resulting in accelerated revenue growth while ensuring long-term sustainability and that the in-licensing and other business development initiatives would generate commercial and potentially operational synergies with the company’s current portfolio, 6) expanding the Company’s plasma collection operations, including opening of a new facility in San Antonio, Texas by the end of the first quarter and expectations that, once fully operational, such new facility would contribute revenue to the tune of $8 million to $10 million annually, 7) plasma collection operations would reduce reliance on third-party plasma suppliers and boost third-party plasma sales, enabling Kamada to benefit from greater financial flexibility, 8) continued progress of the phase 3 trial clinical trial of inhaled AAT therapy, which, if approved, would represent a significant commercial opportunity, 9) expectation to supply KAMRAB and VARIZIG in Latin America for 2025-2027 and the expected revenue under the three-year contract for both products at approximately $25 million, and 10) the expected payment of a special cash dividend. Forward-looking statements are based on Kamada’s current knowledge and its present beliefs and expectations regarding possible future events and are subject to risks, uncertainties and assumptions. Actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors including, but not limited to, conflicts in the Middle East and the impact of such conflicts, continued demand for Kamada’s products, financial conditions of the Company’s customers, suppliers and service providers, Kamada’s ability to leverage new business opportunities and integrate the new product portfolio into its current product portfolio, Kamada’s ability to reap the benefits of the acquisition and expansion of plasma collection centers, Kamada’s ability to continue enrollment of the pivotal Phase 3 InnovAATe clinical trial, unexpected results of clinical studies, Kamada’s ability to manage operating expenses, additional competition in the markets that Kamada competes, regulatory delays, and other risks detailed in Kamada’s filings with the U.S. Securities and Exchange Commission (the “SEC”) and available at the SEC’s website at www.sec.gov. The forward-looking statements made herein speak only as of the date of this announcement and Kamada undertakes no obligation to update publicly such forward-looking statements to reflect subsequent events or circumstances, except as otherwise required by law.

This content was originally published on Benzinga. Read further disclosures here.

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