Financial Data and Key Metrics Changes - In Q1 2025, net product revenue for Ogemda reached $30.5 million, reflecting an 11% increase compared to the previous quarter, driven by a 16% growth in quarterly prescriptions [8][22][23] - Operating expenses, excluding cost of sales, were $68.9 million, which included $12.9 million in non-cash stock-based compensation [22][23] - The company maintained a cash balance of $473 million with no debt at the end of Q1 2025 [23][24] Business Line Data and Key Metrics Changes - Ogemda prescriptions grew to over 2,500 since launch, marking a 16% increase over the prior quarter [12][15] - The company reported a rebound in new patient starts in April, indicating strong demand despite initial seasonality effects in January [13][14] Market Data and Key Metrics Changes - The U.S. market for relapsed/refractory PLGG patients is estimated to have approximately 26,000 individuals, with about half likely in long-term remission [16][18] - The company aims to establish Ogemda as the second-line standard of care in this market, with a focus on increasing prescriber adoption and usage depth [19][20] Company Strategy and Development Direction - The company is focused on three priorities for 2025: establishing Ogemda as the standard of care, advancing the clinical development pipeline for FIREFLY two and DAY three zero one, and expanding the product portfolio [7][10] - The company is actively evaluating business development opportunities to enhance its clinical stage portfolio and drive long-term growth [10][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued growth of Ogemda, citing high prescriber adoption rates and patient demand [9][11] - The company remains well-positioned financially, with a disciplined investment approach to support growth while managing resources responsibly [24][25] Other Important Information - The company anticipates that costs and operating expenses will remain relatively consistent throughout the year, allowing for strategic investments in growth opportunities [23][24] - Management highlighted the importance of educating physicians on the benefits and appropriate use of Ogemda to drive deeper adoption [20][21] Q&A Session Summary Question: What are you seeing in terms of duration of therapy in the marketplace and how docs plan to use the drug long term? - Management noted that it is early to comment on duration, but a high percentage of patients continue on therapy month after month, consistent with expectations from the FIREFLY one study [28][29] Question: Can you provide a rough percentage of revenue from new patients versus ongoing patients? - Management indicated that the dynamics of new patient starts and ongoing patients remain similar to previous discussions, with approximately 90% on-label usage [33][34] Question: What headwinds did you see in Q1 regarding gross to net and reimbursement? - Management acknowledged seasonality effects in January due to delays in scans and appointments, but noted a rebound in new patient starts in April [35][37] Question: How should we think about new patient starts from here? - Management expects a consistent and steady ramp of new patients over time, emphasizing that this is akin to a rare disease launch rather than typical oncology trajectories [43][44] Question: Can you discuss the penetration within each priority center? - Management reported that 100% of priority one accounts have tried Ogemda, with ongoing efforts to deepen prescribing among these accounts [51][52]