Management characterizes 2025 as a foundational year of disciplined execution, focusing on the central role of C3 inhibition to address complement-driven diseases across ophthalmology and nephrology. SYFOVRE performance in geographic atrophy (GA) is described as resilient, with 17% year-over-year growth in total injections despite revenue being impacted by elevated free goods utilization. The EMPAVELI launch in C3G and primary IC-MPGN is cited as a primary near-term growth engine, achieving over 5% ma ...