The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: Great quarter. I wanted to ask you about the futility analysis that you're going to be conducting for the AAT -- inhaled AAT program. Can you just
talk about what will be looked at? Will the information be blinded to you? Is it independent more of a statistical analysis? Or are they looking at
the actual endpoints? Are you going to be reporting anything? I don't know what are the potential outcomes we can see there.
And then separately, if you could talk about some of the additional growth drivers for KEDRAB and CYTOGAM? It looks like KEDRAB is more about
international expansion, do you have any -- and for CYTOGAM, are you planning any other clinical presentations or clinical studies to present at
various medical conferences?
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: But in terms of the efficacy data, are they looking primarily at the primary endpoints that you've laid out or additional...
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: Okay. And what would be the -- just on the futility analysis, you either expect to continue as is expand -- do you expect to either continue expand
or stop the program together? Are those your three options there?
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MARCH 05, 2025 / 1:00PM, KMDA.OQ - Q4 2024 Kamada Ltd Earnings Call
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: Yeah. Well, the specific growth drivers for KEDRAB and CYTOGAM. So KEDRAB, that just continuation of expanding contracts globally?
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: Okay. And if I could just ask one more follow-up. I have to ask this question. We don't often see special dividends from development, well, you're
profitable, obviously, but still development-stage companies. So what was the deciding factor there to offer a special dividend?
Question: Annabel Samimy - Stifel, Nicolaus & Company, Incorporated - Analyst
: Could that be an indication that you know what kind of you're going to do and the size of the BDs that you're going to be doing?
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MARCH 05, 2025 / 1:00PM, KMDA.OQ - Q4 2024 Kamada Ltd Earnings Call
Question: Anthony Petrone - Mizuho Americas - Analyst
: Great to see obviously the excellent results for 2024. Maybe to start with plasma collections. You have the two operating centers and the third is
on the way to being open here shortly. So maybe just a little bit on the third center, the timing to reach that peak revenue target of $8 million to
$10 million and then the mix of what will be collected there, how much will be specialty plasma versus stand plasma that you would go on to sell
to third parties? And then I'll have a couple of follow-ups.
Question: Anthony Petrone - Mizuho Americas - Analyst
: Fair enough. And I'm just wondering, as you're building or critical mass here how the plasma collections, that operation, but just factoring it against
third-party sales as well as your own work in process inventory needs, how that plays out from an adjusted EBITDA margin standpoint. So just a
little bit on the margin profile today of plasma collection and, let's say, a year or two years from now, where that margin profile can trend to?
Question: Anthony Petrone - Mizuho Americas - Analyst
: That's helpful. And then just pivoting to the BD&L side of the story. Obviously, a good collection of hyperimmune globulin (inaudible) products.
You mentioned, again, obviously, you have a special dividend going out, but the pipeline for follow-on deals, whether in-licensing or potentially
M&A is still robust.
I'm just wondering when we think about just sort of the landscape out there, it feels like the play here is to continue to build in hyperimmune
globulin product specifically? And maybe just give us an idea of that broader landscape, Amir and maybe which areas specifically you're taking a
look at?
And obviously, you have exposure to rabies, cytomegalovirus disease for kidney transplant, the two biggest products. Just wondering, as you look
at that hyperimmune space, what other white areas are there that you can capitalize on?
Question: James Sidoti - Sidoti & Company - Analyst
: A couple of questions on gross margin. For your proprietary products, it was up about I think, about 700 basis points. Is that due to the mix of
KEDRAB in the current quarter?
Question: James Sidoti - Sidoti & Company - Analyst
: And what will be the impact when you start using more of your more of the plasma that you get from your own in-source plasma centers as opposed
to buying it. What do you think the impact on that proprietary gross margin could be?
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