Knight Therapeutics Shares Buyback Plan Approved by TSX
Knight Announces Acceptance of Normal Course Issuer Bid
Montreal – Knight Therapeutics Inc. (TSX:GUD), a specialty pharmaceutical company serving Canada and Latin America, has received approval from the Toronto Stock Exchange for its Normal Course Issuer Bid (NCIB). Through this initiative, the company plans to repurchase up to 3,000,000 of its own common shares, approximately 3% of its outstanding shares, over the next twelve months. The intent is to begin these purchases on August 22, 2025, and they will continue until the earlier of the completion date or August 21, 2026.
Understanding the Buyback Program
This strategic buyback allows Knight Therapeutics to purchase its shares when they believe the market price does not reflect the intrinsic value of the company. The company will execute this plan judiciously, purchasing a daily maximum of 15,823 shares based on the average daily trading volume. These shares are intended to be purchased for cancellation, thereby reducing the total number of shares outstanding.
Implementation of Automatic Share Purchase Plan
Alongside this NCIB, Knight Therapeutics has also set up an automatic share purchase plan with a brokerage firm. This plan aims to facilitate the repurchase of shares during periods where Knight is subject to regulatory trading restrictions or blackout periods. The transactions will be conducted following TSX regulations and Canadian securities laws, ensuring compliance and encouraging market stability.
Why a Buyback?
Repurchasing shares can be beneficial for Knight. It allows the company to return value to its shareholders, particularly when they believe the shares are undervalued in the market. Notably, Knight has a history of share repurchases; in the past year, the company bought back over 2 million shares at an average price of $5.48 through previous NCIB approvals.
About Knight Therapeutics Inc.
Headquartered in Montreal, Knight Therapeutics Inc. shines as a key player in the pan-American pharmaceutical landscape, focusing on acquiring and commercializing various pharmaceutical products for Canada and markets across Latin America. Their subsidiaries, including United Medical and Biotoscana Farma, enhance their market reach and operational capabilities.
Contact Information for Investors
If you have inquiries regarding Knight Therapeutics or the recent buyback announcement, you can reach out via the following channels:
Investor Contact:
Samira Sakhia, President & Chief Executive Officer
T: 514.484.4483
F: 514.481.4116
Email: IR@knighttx.com
Arvind Utchanah, Chief Financial Officer
T: +598.2626.2344
Email: IR@knighttx.com
Website: www.knighttx.com
Frequently Asked Questions
What is the purpose of Knight Therapeutics' Normal Course Issuer Bid?
The NCIB allows the company to repurchase shares, which may help enhance shareholder value and stabilize the share price if deemed necessary.
When will the share repurchases begin?
The purchases are set to commence on August 22, 2025, and will continue until the earlier of the completion of the buyback or August 21, 2026.
How many shares can Knight Therapeutics repurchase?
The company intends to buy back up to 3,000,000 common shares, which represents about 3% of its outstanding shares.
What benefits does the automatic share purchase plan offer?
This plan allows for shares to be repurchased during periods of regulatory trading restrictions, providing greater flexibility in executing the buyback strategy.
How does Knight plan to determine the share purchase price?
The company will purchase its shares at the current market price at the time of each transaction.
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