Shares of Kamada Ltd. (NASDAQ:KMDA) rose about 8% after the biopharmaceutical group released its financial guidance for 2026, forecasting another year of strong double-digit growth in both revenue and earnings.
The Israel-based specialist in plasma-derived therapies said it expects 2026 revenue to reach between $200 million and $205 million, alongside adjusted EBITDA of $50 million to $53 million. Based on the midpoint of its 2025 guidance, this implies year-on-year growth of roughly 13% in revenue and 23% in adjusted EBITDA.
Kamada also reiterated its outlook for 2025, maintaining guidance for revenue of $178 million to $182 million and adjusted EBITDA of $40 million to $44 million. The company added that it expects to end the year with around $75 million in cash.
Management said the projected growth for 2026 is driven entirely by organic expansion of its existing commercial portfolio, which is sold in more than 30 countries worldwide. Key contributors are expected to include stronger U.S. sales and continued international growth of products such as KAMRAB, GLASSIA, HEPAGAM and VARIZIG.
Further upside is anticipated from the Distribution segment, supported by the launch of biosimilar products in Israel, expansion across the Middle East and North Africa region, and initial sales from plasma collected at the company’s Texas facilities.
Commenting on the outlook, Chief Executive Officer Amir London said: “We enter 2026 from a position of significant commercial and financial strength and are excited about the progress we have made over the past year.”
Kamada noted that its growth expectations already factor in lower royalty payments for GLASSIA following a reduction that took effect in August 2025 under its agreement with Takeda.
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