- Investors & Media
- Investors & Media
- Contact Us
The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) today announced that trading of Kamada Ltd. (Nasdaq:KMDA), a plasma-derived protein therapeutics company, commenced on The NASDAQ Stock Market on Friday, May 31, 2013.
Kamada Ltd. today announced the pricing of its initial public offering in the United States of 5,582,636 ordinary shares at a price to the public of $9.25 per ordinary share.
Total revenue from sales of Glassia in USA is expected to grow: minimum revenues of approximately $165 million
David Tsur, CEO said: “ We continue to implement successfully our strategic plan that includes strong growth in our Proprietary Products segment, mainly based on sales of AAT products in the U.S. and other countries, including commencing sales of our inhaled product in Europe, U.S. and other markets in the midterm, along with improving our margins. The first quarter of this year supports this trend and we are confident in our ability to meet our revenues forecast for 2013, which is based on orders from Baxter for the second half of 2013.”
Kamada announced that over dozens of patients with alpha-1 antitrypsin deficiency have already begun treatment of inhaled AAT beyond the time frame of the Phase II/III clinical trial; Kamada estimates that dozens of additional patients are expected to apply for continuation of treatment
This year, the company will complete its phase 2/3 clinical trial in Europe to treat AAT deficiency, it will start a phase 2 clinical trial in the US with the same product, and it expects to start a Phase 2 or phase 2/3 clinical trial to treat newly diagnosed type-1 Diabetes.
Kamada reports continued revenue growth, primarily due to an increase in the sale of the GLASSIA drug in the USA, and that it has crossed the threshold to operational profitability and achieved net annual profit. Kamada’s net profit in Q4 of 2012 was about $3 million. The company showed progress in the development of the indications for the inhaled AAT for treatment of Alpha-1 Antitrypsin Deficiency (AATD) and AAT for newly diagnosed Type-1 diabetes.
As Kamada's chairman Hahn founded and led Kamada from an idea to becoming a groundbreaking, leading company in its field of development, manufacture and marketing of specialty lifesaving biopharmaceuticals.
The Australian Patent Registrar has granted the Company a patent for inhaled Alpha-1 Antitrypsin.
The award was given based on the success of the Company's strategy in selling GLASSIA in the U.S. and worldwide, transforming it to an export-oriented company. The Company's exports in the first nine months of 2012 grew to $27.5 million