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Knight Knight Therapeutics Reports Fourth Quarter and Year End 2020 Results MONTREAL , March 25 , 2021 ( GLOBE NEWSWIRE ) -- Knight Therapeutics Inc. ( TSX : GUD ) ( " Knight " or " the Company " ) , a leading pan - American ( ex - US ) specialty pharmaceutical company , today reported financial results for its fourth quarter and year ended December 31 , 2020. All currency amounts are in thousands except for share and per share amounts . All currencies are Canadian unless otherwise specified . 2020 Highlights Financials • Revenues were $ 199,519 , an increase of $ 152,058 or 320 % over prior year . • Gross margin was $ 81,690 or 41 % compared to $ 26,918 or 57 % in prior year . • Adjusted EBITDA¹ was $ 16,837 compared to $ 2,827 in prior year . • Interest income generated of $ 14,322 a decrease of $ 9,220 or 39 % over prior year . • Gain from strategic fund investments of $ 46,733 , of which $ 16,644 was realized . Adjusted earnings of $ 28,713 , an increase of $ 2,714 or 10 % over prior year . • Net income was $ 31,760 compared to net income of $ 18,033 in prior year . Corporate Developments • Promoted Arvind Utchanah from VP Finance to CFO . • Appointed Janice Murray and Nicolás Sujoy on the Board of Directors . • Disposed of the shares of Medison Biotech ( 1995 ) Ltd. for a cash consideration of $ 77,000 and recorded a gain of $ 2,948 . • Purchased 5,748,716 common shares at an average price of $ 6.40 per share through a Normal Course Issuer Bid ( " NCIB " ) . • Completed the tender offer process for an aggregate purchase price of $ 170,855 and achieved 99.9 % ownership of Biotoscana Investments S.A. ( " GBT " ) . Products • Launched CresembaⓇ , indicated for the treatment of invasive aspergillosis and invasive mucormycosis , in Brazil . • Launched KarfibⓇ , indicated for relapsed or refractory multiple myeloma , in Argentina . • Received regulatory approval from Health Canada for Ibsrela ™ M for the treatment of Irritable Bowel Syndrome with Constipation ( " IBS - C ” ) . • Obtained the exclusive Canadian commercial rights of TrelstarⓇ , approved for the treatment of advanced prostate cancer . Ⓡ • Obtained regulatory approval for LenvimaⓇ and HalavenⓇ in Ecuador . • Received regulatory approval from Health Canada for Imvexxy ™ and Bijuva ™ . • Submitted a supplement to a New Drug Submission ( " NDS ” ) of Nerlynx® for HER2 - positive metastatic breast cancer . Signed a new exclusive distribution agreement with Gilead for the continued commercialization of AmBisomeⓇ in Brazil , effective January 1 , 2021 . Strategic Investments • Disposed of 111,355 common shares of Profound Medical Inc. for total proceeds of $ 1,825 . • Received US $ 5,000 for the full repayment of the strategic loan issued to Triumvira Immunologics Inc. • Amended strategic loan issued to Synergy CHC Corp. and loaned an additional US $ 2,500 . • Received distributions of $ 29,128 from strategic fund investments and realized a gain of $ 16,644 . Key Subsequent Event • Purchased an additional 2,895,456 common shares at an average price of $ 5.25 per share through the NCIB . Disposed of 315,600 common shares of Medexus Pharmaceuticals Inc. for total proceeds of $ 2,624 . • Announced the Canadian commercial launch of Ibsrela ™ for the treatment of IBS - C . " The past year was a transformative year for Knight with the completion of the acquisition of GBT . Despite the challenges due to COVID - 19 , we continue to progress on integration , while advancing on our product portfolio in both Canada and Latin America . We have received regulatory approvals from Health Canada for IbsrelaTM , ImvexxyTM and BijuvaⓇ and received regulatory approvals for LenvimaⓇ and Halaven in Ecuador . We continue to focus on our mission to acquire , in - license , develop and commercialize innovative medicines and high - quality treatments to improve the health of patients in Latin America and Canada , " said Samira Sakhia , President and Chief Operating Officer of Knight Therapeutics Inc.