BioCryst Pharmaceuticals, Inc.

Good day and welcome to BioQuest third quarter 2025 earnings conference call. All participants will be in the 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 a touchtone phone. To withdraw a question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Nick Wilder. Please go ahead.

Good morning, and welcome to Biochrist's third quarter 2025 corporate update and financial results conference call. Participating with me today are CEO John Stonehouse, President and Chief Commercial Officer Charlie Geyer, Chief Development Officer Dr. Bill Sheridan, and Chief Financial Officer Bob Erguiaz. A press release and slide presentation about today's news are available on our Investor Relations website. Today's call may contain forward-looking statements, including statements regarding future financial results, unaudited and forward-looking financial information, as well as the company's future performance and or achievements. These statements are subject to known and unknown risk. and uncertainties, which may cause our actual results, performance, or achievements to be materially different from any future results or performance expressed or implied in this presentation. For additional information, including a detailed discussion of these risks, please refer to slide two of the presentation. In addition, today's conference call includes non-GAAP 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. I'd now like to turn the call over to John Stonehouse.

Thank you, Nick. We are very pleased to report yet another strong quarter for the year. Starting with Orladeo, we continue to see strong revenue growth year over year on a growing revenue base, well on our way to $1 million at peak. Charlie will share the details as this was the first quarter with new competition, and we continue to see strong underlying growth and a growing prescriber base, as we predicted. Next, we closed the sale of our European business and paid off our Pharmacon debt. And this not only cleaned up our balance sheet, but put us in a very strong financial position, generating operating profit and positive cash flow. Barbara will share more details regarding our financial position. We are also making progress with our pipeline and expect early data that should give an initial view on activity and dose from our DME program, and we plan to share this early next year. If these data are encouraging, we have also made a decision that given the program is outside our rare disease area of focus, we will look to spin out or partner this program to put it in the hands of someone better suited to advance it further. Regarding BCX17725, Bill will share encouraging data from our healthy volunteer study showing evidence that the drug does get to the skin following IV administration. This is important as this is where the target for Netherton syndrome is, and with a very potent inhibitor in BCX17725, we are excited to see in Netherton syndrome patients what effect it has on the disease. Enrollment is taking a little bit longer than planned, and we now expect early data in a small number of Netherton Syndrome patients later in Q1 next year. Lastly, having announced the proposed acquisition of Astrea last month and the expected close in Q1 next year, we are extremely excited to add a late-stage asset, Novena Bark. to our pipeline to leverage our expertise in HAE and bring patients a new treatment option with a low burden of administration. So clearly, we have been busy since last reporting quarterly earnings, and this is shaping up to be another outstanding year of performance for our company. With that, I will turn it over to Charlie. Thanks, John.