Financial Data and Key Metrics Changes - The company reported net revenues of $159 million, an increase of 6% from the second quarter of the previous year, driven by a 7% year-over-year active patient growth in the GBM franchise [28][34] - Gross margin for the second quarter was 74%, down from 77% in the same quarter last year, primarily due to the rollout of the HIV rate and the continued launch of non-small cell lung cancer [30][34] - The net loss for the quarter was $40 million, with a loss per share of $0.36, and adjusted EBITDA was negative $10 million [34][35] Business Line Data and Key Metrics Changes - The company received 121 prescriptions for non-small cell lung cancer in the second quarter, with 106 in the U.S. and 15 in Germany, leading to $2.4 million in net revenues from OptuneLua [15][16] - The active patient count for Optune GEO reached 4,194, a 7% increase compared to the previous year, with all key markets experiencing double-digit growth [23][26] - The METIS trial demonstrated a 28% risk reduction in time to intracranial progression for patients treated with TT Fields therapy compared to supportive care alone [12] Market Data and Key Metrics Changes - The company is actively engaged in discussions with Japanese regulators for the launch of OptuneLua for non-small cell lung cancer, anticipating approval soon [21] - The company has seen promising feedback from peer-to-peer conversations with physicians, indicating a healthy mix of new and repeat prescribers for Tumor Treating Fields therapy [19][20] Company Strategy and Development Direction - The company aims to extend survival for patients with aggressive forms of cancer through the development of Tumor Treating Fields therapy, with ongoing efforts to gain approvals in new indications, particularly pancreatic cancer [5][11] - The company is focused on execution and has reached multiple milestones, including the launch of OptuneLua and the advancement of clinical trials for new indications [15][26] - The company plans to file PMA submissions for pancreatic cancer and brain metastases from non-small cell lung cancer in the near future, with potential approvals and launches expected in 2026 [13][35] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing launch of OptuneLua and the potential for significant growth in the coming years, particularly in the U.S. and Japan [21][35] - The management highlighted the importance of real-world evidence and peer-to-peer connections in driving adoption of Tumor Treating Fields therapy among physicians [19][20] - The company is committed to balancing investments in launches and future innovations while aiming for profitability, with a target revenue level of around $750 million to achieve adjusted EBITDA profitability [74] Other Important Information - The company is working on minimizing tariff exposure related to imports, with an estimated full-year P&L impact of up to $7 million [31] - The company has a cash and investment balance of $912 million, which is expected to support the retirement of convertible notes and bridge to new revenue streams [34][35] Q&A Session Summary Question: Why was the growth in non-small cell lung cancer prescriptions lower in Q2 compared to Q1? - Management indicated that the launch is progressing as expected, with a consistent ability to educate physicians and build volume [40][42] Question: How different were the METIS numbers disclosed compared to ASCO last year? - The management explained that the METIS trial's endpoint was progression, and the final data set confirmed statistical significance, which was a common practice in trials [46] Question: What is the path to profitability and timeframe? - The management stated that they are on track with expectations and aim for profitability at a revenue level of around $750 million, but did not provide a specific timeframe [74] Question: Are there plans to pursue combinations with other chemotherapy regimens for pancreatic cancer? - The management confirmed that they are actively discussing new combinations and will have data from the PANOVA-four trial in the first half of next year [75][76] Question: How does the NCCN guideline ranking influence commercial coverage? - Management noted that any improvement in ranking is helpful, and they are eager to see updated guidelines published later this fall [57] Question: Does the $94 million in U.S. sales include OptuneLua revenue? - Management confirmed that the $94 million includes all revenue from both Optune GO and Optune Lua [94]