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Knight Knight Therapeutics Reports Second Quarter 2021 -- Achieves Record Quarterly Revenues -- MONTREAL , Aug. 13 , 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 second quarter ended June 30 , 2021. All currency amounts are in thousands except for share and per share amounts . All currencies are Canadian unless otherwise specified . Q2 2021 Highlights Financials • Revenues were a record $ 65,796 , an increase of $ 12,546 or 24 % over prior year . • Gross margin of $ 28,871 or 44 % compared to $ 22,237 or 42 % in prior year . • Adjusted EBITDA¹ was $ 9,396 , an increase of $ 1,743 or 23 % over prior year . • Gain from strategic fund investments of $ 28,479 , of which $ 4,872 was realized . • Net income was $ 29,004 , an increase of $ 13,492 or 87 % over prior year . • Cash inflow from operations was $ 12,409 , an increase of $ 4,337 or 54 % over prior year . Corporate Developments • Purchased 1,324,076 common shares through a Normal Course Issuer Bid ( " NCIB " ) for an aggregate cash consideration of $ 6,954 . • Shareholders re - elected James C. Gale , Jonathan Ross Goodman , Samira Sakhia , Robert N. Lande , Michael J. Tremblay , Nicolás Sujoy and Janice Murray on the Board of Directors . • Announced leadership change with Samira Sakhia assuming role of CEO and Jonathan Goodman assuming role of Executive Chairman effective September 1 , 2021 . Products Acquired exclusive rights to manufacture , market and sell ExelonⓇ in Canada and Latin America for an upfront and milestone payment of $ 217,331 [ US $ 180,000 ] . Strategic Investments • Received distributions of $ 7,034 from strategic fund investments and realized a gain of $ 4,872 . Key Subsequent Events • Obtained regulatory approval for NERLYNX®Ⓡ to treat subset of HER2 - positive metastatic breast cancer patients in Canada . • Launched a NCIB in July 2021 to purchase up to 10,267,956 common shares of the Company over the next 12 months . • Purchased an additional 2,675,917 common shares through NCIB for an aggregate cash consideration of $ 13,865 . " After 104 quarters of leading publicly - traded specialty pharmaceutical companies since the tender age of 28 and with the majority of these quarters with Samira by my side , it is the right time for both Knight and for Canadian society for me to step aside and make room for a female superstar . I look forward to fulfilling my new role as Chair and to support Samira and our talented team to the best of my abilities . I do this not just because I am the Gudest and the largest Knight shareholder but because teams support each other during both GUD and bad times . 1 Adjusted EBITDA is not a defined term under IFRS , refer to the definitions below for additional details . Thank you to our shareholders and to Amal Khouri , Jody Engel , Corey Richardson , Arvind Utchanah , Georgette Lessard- Boyer , Gerry Mazzei and the many others who followed me from Paladin Labs Inc. for the confidence over the last 27 years . A special thank you goes to James Gale , managing partner at Signet Healthcare Partners for assuming the role of Lead Director . Imagine what we are going to do now that we are warmed up ” , said Jonathan Goodman , CEO of Knight Therapeutics Inc. " It has been a privilege to have worked hand - in - hand with and learned from Jonathan for the last twenty years . I am honored and humbled to take on the role of CEO of Knight and to lead an exceptionally talented and dedicated executive team and Knights across Canada and Latin America . I am excited to announce that for Q2 Knight achieved record quarterly results despite the ongoing challenges posed by the pandemic . During the last 6 months we executed on multiple fronts with our business development team closing ExelonⓇ and already beginning work on integration , the commercial team delivering on strong growth of our key brands and the operational teams executing on integration and systems implementation ” , said Samira Sakhia , President and Chief Operating Officer of Knight Therapeutics Inc.