Peter L. Fishman

“We reported our first profitable quarter in two years, reflecting the benefits of our completed restructuring, as well as our company-managed U.S. and fully partnered international commercial model.”

“As Aaron mentioned, the benefits of our dual sales model and now-completed restructuring plan are becoming increasingly clear with execution against three key priorities.”

“Our results for the first quarter of 2026 reflected the continuing traption of our new business model and our global restructuring plan. Given the adoption of our new agreement with Recordati, I will in some cases also compare consecutive quarterly results, Q4 2025 to Q1 2026, to highlight recent progress.”

“At the end of the third quarter of 2025, our business continues to demonstrate financial discipline with operating margin and cash flow trends positioned for steady improvement.”

“Q2 2025 total net revenue was $72.7 million, an increase of $5.3 million or 8% versus the prior year period, primarily reflecting the impact of the Recordati upfront payment.”