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Knight Knight Therapeutics Reports Third Quarter 2021 -- Achieves Record Quarterly Revenues -- MONTREAL , Nov. 11 , 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 third quarter ended September 30 , 2021. All currency amounts are in thousands except for share and per share amounts . All currencies are Canadian unless otherwise specified . Q3 2021 Highlights Financials • Revenues were $ 73,340 , an increase of $ 28,101 or 62 % over the same period in prior year . • Gross margin of $ 37,766 or 51 % compared to $ 19,533 or 43 % in the same period in prior year . Adjusted EBITDA1 Ⓡ was $ 17,334 , an increase of $ 13,118 or 311 % over the same period in prior year . Net loss on financial assets measured at fair value through profit or loss of $ 21,301 for the three - month period ended September 30 , 2021 . Net gain on financial assets measured at fair value through profit or loss of $ 16,644 for the nine - month period ended September 30 , 2021 . • Net loss was $ 8,586 , compared to $ 17,492 net income in the same period in prior year . • Cash inflow from operations was $ 10,321 , compared to a cash outflow from operations of $ 8,412 in prior year . Corporate Developments • Re - launched a normal course issuer bid ( " NCIB " ) in July 2021 and purchased 2,963,022 common shares for an aggregate cash consideration of $ 15,361 . • Hired Monica Percario as Global VP Scientific Affairs , Daniela Marino as Global VP Legal and Compliance and Susan Emblem as Global VP Human Resources . Products • Entered into exclusive supply and distribution agreement with Incyte Biosciences International Sàrl ( " Incyte " ) for tafasitamab and pemigatinib in Latin America Strategic Investments • Received distributions of $ 2,042 from strategic fund investments and realized a gain of $ 1,634 . Key Subsequent Events • Received $ 9,243 ( US $ 7,460 ) as part of the final distribution from the liquidation of New Emerging Medical Opportunities Fund II Ltd. • Re - financed Bancolombia loan extending the maturity date from December 14 , 2021 to October 26 , 2026 . • Purchased an additional 1,009,725 common shares through NCIB for an aggregate cash consideration of $ 5,258 . " I am excited to announce that for a second consecutive quarter , Knight achieved record quarterly results despite the ongoing challenges posed by the pandemic . During the last 9 months we executed on multiple fronts with our business development team closing Exelon® , entering into an exclusive supply and distribution agreement with Incyte while the commercial team continuing to deliver on strong growth of our key brands and the operational teams executing on integration and systems implementation . Furthermore , we strengthened Knight's management team by adding a Global VP Scientific Affairs , a Global VP Legal and Compliance and a Global VP Human Resources , to continue delivering on growth and operational excellence , " said Samira Sakhia , President and Chief Executive Officer of Knight Therapeutics Inc. 1 Adjusted EBITDA is not a defined term under IFRS , refer to the definitions below for additional details .