Kiniksa Pharmaceuticals International, plc

Thank you for standing by. Welcome to the Conexa Pharmaceuticals fourth quarter and full year 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 the 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 Kirshenbaum, Investor Relations. Please go ahead, sir.

Thank you, Operator. Good morning, everyone. And thank you for joining Knicks' call to discuss our fourth quarter and full year 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, our Chief Executive Officer, Sanj K. Patel, will start with an introduction. From there, Ross Mote, our Chief Operating Officer, will discuss our IL-1 inhibition franchise and provide an update on Arclist's commercial execution. Then, Knicks' Chief Financial Officer, Mark Ragosa, will review our fourth quarter and full year 2025 financial results. And finally, Sanj will share closing remarks and kick off the Q&A session. for which Dr. John Paolini, our Chief Medical Officer, and Evan Tesari, our Chief Strategy 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 file. These statements speak only as the date of this presentation, and we undertake no obligation to update such statements except as required by law. With that, I'll turn it over to Sanj.

Thanks, Jonathan. Good morning or good afternoon, everyone. I look forward today to reviewing Connexus' fourth quarter performance and key highlights across our portfolio over the past year. Diligent execution across our commercial and clinical organization throughout 2025 has put us in a strong position to further advance our business. Arculus revenue continues to grow, driven by the expanding adoption of IL-1 alpha and beta inhibition across the recurrent pericarditis population. Since the launch in 2021, we have delivered this transformative therapy to thousands of patients, enabling a fundamental shift in the treatment paradigm and driving sustained revenue growth. On a year-over-year basis, Arculus product revenue grew 65% to $202.1 million in the fourth quarter and 62% to $677.6 million for the full year 2025. Importantly, Arculus revenue growth has been profitable since the fourth quarter of 2021. This has allowed us to make strategic investments across sales and marketing with the aim of capturing additional long-term growth. Ross will cover this in a moment. Knix's robust financial position gives us the ability to create additional value by investing in R&D and advancing internally discovered and developed assets such as KPL 387 and KPL 1161, as well as pursuing strategic business development. Focusing on clinical, this time last year, we announced our development program for KPL 387 in recurrent pericarditis, with plans to initiate a phase two, phase three clinical trial in the middle of last year. That was achieved, and we are continuing to enroll and dose patients in the Phase II portion of that program, and we are on track for data in the second half of this year. Together with continuing ARCALIS growth, the development of KPL387 positions Connexa to extend its leadership of the recurrent pericarditis market. In particular, we believe KPL387 could address key patient needs and expand and penetration into the addressable market by potentially enabling monthly dosing with an auto-injector. In addition to KPL-387, we also recently announced that we plan to be in the clinic with KPL-1161, which is our SC-modified R1-alpha and beta inhibitor, by the end of this year. As highlighted, we made important progress across our commercial, and clinical portfolio in 2025. And we are working diligently, some would say like the clappers, to continue that strong trajectory in the year ahead. And with that, I'll turn it over to Ross to review our commercial execution. Thank you, Sanj.