On May 8, 2024, Kamada Ltd. (KMDA) announced financial results for the first quarter of 2024. Revenues for the first quarter of 2024 were $37.7 million, which was a 23% increase compared to the first quarter of 2023. Adjusted EBITDA was $7.5 million, which was a 96% increase from the $3.8 million in the first quarter of 2023. The company has increased full year revenue guidance to $158 million to $162 million (from $156 million to $160 million). The company recently received feedback from the FDA in which the agency expressed its willingness to potentially accept a P value of 0.1 alpha level in evaluating the primary efficacy endpoint for the Phase 3 InnovAATe trial. A revised statistical analysis plan and study protocol were recently filed and further FDA feedback is expected in the second half of the year. If approved, this may allow for acceleration of the program.
