Why Kiniksa's Stock Is Trading Higher Today

Kiniksa Pharmaceuticals Ltd KNSA shares were trading higher Monday after the company's Phase 3 trial of Rilonacept showed statistically significant results.

Kiniksa Pharmaceuticals is a clinical-stage biopharmaceutical company focused on discovering, acquiring, developing and commercializing therapeutic medicines for patients suffering from debilitating diseases.

Its clinical-stage product candidates include Rilonacept, which is in Phase 2 clinical trials for the treatment of recurrent pericarditis, a debilitating inflammatory cardiovascular disease; Mavrilimumab, a monoclonal antibody for the treatment of giant cell arteritis; and KPL-716, KPL-045, KPL-404 are other monoclonal antibodies.

Kiniksa Pharmaceuticals shares were trading up 23.01% at $28.33 at the time of publication Monday. The stock has a 52-week high of $28.39 and a 52-week low of $5.01.