Kiniksa Pharmaceuticals International, plc

Thank you for standing by and welcome to the Conexa Pharmaceutical Second Quarter 2025 Earnings Conference Call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during this session, you'll need to press star 1-1 on your telephone. If your question has been answered and you'd like to remove yourself from the queue, simply press star 1-1 again. As a reminder, today's program is being recorded. And now I'd like to introduce your host for today's program, Jonathan Kirschenbaum, Investor Relations. Please go ahead, sir.

Thank you, operator. Good morning, everyone, and thank you for joining Conexa's call to discuss our second quarter 2025 financial results and recent portfolio execution. A press release highlighting these results can be found on our website under the Investors section. As for the agenda for today's call, our Chief Executive Officer, Sanj K Patel, will start with an introduction and overview of our business. Ross Moat, Conexa's Chief Commercial Officer, will provide an update on ARCALYST's commercial execution. Then, Mark Legosa, our Chief Financial Officer, will review our second quarter 2025 financial results. Finally, Sanj will share closing remarks and kick off the Q&A session, for which John F. Paolini, our Chief Medical Officer, and Evan Tesari, our Chief Operating Officer, will also be on the line. Before getting started, please note that we will be making forward-looking statements today that are subject to risks and uncertainties that may cause actual results to differ materially from these statements. A review of such statements and risk factors can be found on this slide, as well as under the caption, risk factors, contained in our SEC filings. These statements speak only at the date of this presentation, and we undertake no obligation to update such statements, except as required by law. With that, I will turn it over to Sanj.

Thanks, Jonathan, and good morning, everyone. I'm happy to review Conexa's second quarter financial results and the highlights across our portfolio. Conexa continues to build upon the strength across our business, which is driven by both our commercial execution with ArchList and our pipeline development programs, including KPL387. ArchList continues to generate strong revenue growth. Our continued execution across key commercial drivers and increased penetration across the current pericarditis population led to a net revenue of $156.8 million in the second quarter. This represents a growth of $19 million over the first quarter. In just over four years since the launch of ArchList as the first and only FDA approved therapy for recurrent pericarditis, Conexa has generated over $1 billion in cumulative net sales. Surpassing this milestone is a result of our effective commercial strategy and our team who work relentlessly to bring this highly efficacious therapy to thousands of patients suffering from this debilitating disease. Conexa is well positioned to continue maximizing the potential of ArchList. For full year 2025, we're raising our ArchList net sales guidance to between $625 and $640 million from $590 to $605 million. Importantly, growing ArchList revenue continues to support our robust balance sheet, providing capacity for continued investment in value creating opportunities across the business without the need to access the capital markets. Turning to our pipeline, we've now initiated and have begun recruiting in the Phase II slash Phase III clinical trial of KPL387 and recurrent pericarditis.