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8/3/2023
and welcome to the Biochrist second quarter 2023 earnings call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your touchtone phone. To withdraw your question, please press star then two. Please note this event's being recorded. I would now like to turn the conference over to Mr. John Bluff with Biochrist. Please go ahead.
Thank you very much. Good morning and welcome to Biochrist second quarter 2023 corporate update and financial results conference call. Today's press release and accompanying slides are available on our website. Participating with me today are CEO John Stonehouse, CFO Anthony Doyle, Chief Commercial Officer Charlie Geyer, and Chief R&D Officer Dr. Helen Thackeray. Following our remarks, we'll answer your questions. Before we begin, please note that today's conference call will contain forward-looking statements, including those regarding future results on audited and forward-looking financial information, as well as the company's future performance and or achievements. These statements are subject to known and unknown risks and uncertainties, which may cause our actual results, performance, or achievements to be materially different from any future results or performance expressed or applied in this presentation. You should not place undue reliance on these forward-looking statements. For additional information, including a detailed discussion of our risk factors, please refer to the company's documents filed with the Securities and Exchange Commission, which can be accessed on our website. In addition, today's conference call includes non-GAAP pro forma financial measures. For a reconciliation of these non-GAAP measures against the most directly comparable GAAP financial measure, please refer to the earnings press release posted in the press releases section of our investor relations website at biocrist.com. I'd now like to turn the call over to John Stonehouse.
Thanks, John. The strong step up in revenue that we expected and achieved in the second quarter and the consistent steady growth we continue to see in patients on treatment positions us well to achieve no less than $320 million in Orladeo revenue for the year and $1 billion at peak. Charlie will share more of the details, but I want to point out the success Charlie and his commercial team have had in a rare market where there are many treatment options for patients, and yet they're still switching to Orladeo. That is great execution by the entire team. Charlie and I also recently attended the USHAEA Patient Summit in Orlando, Florida. This was the first major gathering of USHAE patients since 2019, which was before the approval of Orladeo. A record 1,200 HAE patients and their families were in attendance, and it was an amazing opportunity for us to showcase our company and make connections with this community. Patient activation is a major part of our strategy, and this event was a fantastic launching pad for that. Lastly, we're very excited about the progress we're making with our pipeline. We will host an R&D day on November 3rd at our labs in Birmingham, Alabama. We plan to show you much more about additional assets and programs we haven't discussed previously. Our hope is you will see more clearly how our structure-based drug design platform focused on pursuing first-in-class or best-in-class medicines for patients with rare disease, allows us to spread the inherent risk of drug discovery across multiple programs, targets, and diseases, and increases our probability to get at least one of them to the market to follow the success of Orlodeo. We look forward to sharing more with you in November. Now I'll hand it over to Charlie.
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