Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $110.6 million, a significant increase from $2.2 million in the same period last year, primarily driven by a $71.5 million increase in net product revenue from Atruvi [34][35] - Net product revenue for Atruvi reached $71.5 million, representing a 100% growth compared to Q1 2025 [9][26] - Operating costs and expenses increased to $244.8 million from $177.7 million year-over-year, largely due to a rise in SG&A expenses [36] Business Line Data and Key Metrics Changes - Atruvi's unique patient prescriptions reached 3,751 with 1,074 unique prescribers, showing growth in both new prescribers and depth of prescribing [8][9] - Weekly prescriptions for Atruvi grew over 30%, exceeding internal projections [9] - The launch of Atruvi has seen new patient additions at approximately 120 patients per week, up from 100 previously [26] Market Data and Key Metrics Changes - The ATTR cardiomyopathy market is expanding rapidly, with expectations for peak market size between $15 billion to $20 billion [27] - The company is capturing market share from treatment-naive patients, with an estimated market share of 18% to 20% in the treatment-naive segment [46] Company Strategy and Development Direction - BridgeBio aims to become a diversified biopharma company with multiple first-in-class assets targeting high unmet needs [18][19] - The company is focused on expanding its commercial infrastructure to support future launches, with each potential launch having peak sales potential exceeding $1 billion in the U.S. market [33][34] - The strategy includes enhancing access programs and increasing awareness to drive patient identification and treatment [10][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing growth trajectory of Atruvi and the potential for upcoming Phase III trial results to further validate their pipeline [37] - The company anticipates continued revenue growth driven by Atruvi and expects cash flow to extend through multiple value-creating milestones [36][37] Other Important Information - The company has a strong cash position of $756.9 million, bolstered by strategic monetization efforts [36] - Management highlighted the importance of scientific data in driving commercial momentum and patient access [47][48] Q&A Session Summary Question: What is driving the increase in patient adds? - The increase is attributed to strength in treatment-naive starts and continued switch activity, with the market expanding due to increased screening and awareness [44][45] Question: How have the trends evolved regarding the 28-day free trial and patient assistance programs? - Normalization was observed in the utilization of the 28-day free trial and patient assistance programs, which is crucial for serving under-penetrated populations [50][53] Question: What are the competitive dynamics in the market? - The company is facing more pressure in the switch category but is seeing strong growth in treatment-naive patients, with no significant price competition observed [80][82] Question: What are the key metrics for the upcoming Phase III CALIBRATE trial? - A successful study would be defined by a majority of patients achieving normalization of both blood and urine calcium levels, which are critical biomarkers for the condition [70][71] Question: How does the company view the potential market share for its pipeline products? - The company believes that a successful study in ADH1 could significantly de-risk further evaluations in chronic hypoparathyroidism, given the strong genetic link [99][100]