Kinarus AG
Ticker: KNRS Exchange: SIX
Kinarus AG is a clinical-stage pharmaceutical company focused on bringing novel treatments to patients suffering from viral, respiratory, and ophthalmic diseases. Kinarus’s unique and innovative combinatorial therapeutic candidate has broad potential to transform numerous therapeutic areas.

Implications of recent news flow

The recent news flow on Kinarus’ lead product KIN001 has bolstered its profile for the treatment of ambulatory COVID-19 patients. In addition, the outlook for the main events for KIN001 – the anti-inflammatory and anti-fibrotic indications – on which most of our valuation is based, have also been boosted by a new US patent allowance.

Some investors may wonder why the KINFAST Phase 2 study in mild to moderate ambulatory COVID-19 patients is continuing. There is a good reason, as other approved agents to treat COVID-19 also aimed high, failed in hospitalised patients, but have shown efficacy in earlier-stage COVID-19.

The rationale for the continuation of KINFAST is therefore solid and has been further bolstered by the recent demonstration of KIN001’s strong preclinical antiviral activity against the currently circulating SARS-CoV-2 Omicron subvariants BA.2 and BA.5.

In our recent initiation we led with wet age-related macular degeneration (wAMD) and idiopathic pulmonary fibrosis (IPF) as the main indications for KIN001, which now comprise 91% of our valuation. Kinarus’s recent notice of allowance for its US patent on KIN001 in ophthalmic diseases will help ring-fence their intellectual property in those indications.

Our fair valuation of Kinarus remains at CHF96.0m, or CHF0.09 per share.


Download as a PDF file
26810392321 - kinarus-ag
Return to Kinarus AG

Register to be first

Get research on the companies that interest you straight to your inbox

Register For Updates