Financial Data and Key Metrics Changes - The company reported Q2 revenue of $156.8 million and raised its full-year 2025 revenue guidance to between $625 million and $640 million, up from a previous estimate of $590 million to $600 million [4][5][11]. Business Line Data and Key Metrics Changes - The company has achieved approximately 15% penetration into its target patient population for Arclis, which is focused on recurrent pericarditis, indicating significant room for growth [5][11][34]. - The average treatment duration for Arclis is reported to be 30 months, with 45% of patients who stop therapy restarting within eight weeks due to symptom recurrence [26][27]. Market Data and Key Metrics Changes - The prescriber base for Arclis has expanded significantly, with over 3,475 prescribers by the end of Q2, reflecting a strong educational push and increased awareness of recurrent pericarditis [15][19]. - The company noted that patients often receive multiple misdiagnoses before being correctly identified as having recurrent pericarditis, highlighting the need for better education and awareness in the healthcare system [18]. Company Strategy and Development Direction - The company is focused on value creation and expanding its market presence, particularly for Arclis, which has only begun to penetrate the market [4][5]. - The development pipeline includes KPL-387, a potential monthly liquid formulation for recurrent pericarditis, expected to enter the market around 2028-2029 [6][46]. - The company is also exploring the use of Arclis in cardiac sarcoidosis, aiming to understand myocardial inflammation better through collaborations with leading medical institutions [35][36]. Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory of Arclis, emphasizing the importance of education and awareness in increasing prescriber confidence and patient access [19][33]. - The company remains committed to being cash flow positive annually while pursuing new indication opportunities for its pipeline products [59]. Other Important Information - The company has implemented a patient assistance program to help Medicare Part D patients afford their co-pays, which has positively impacted patient enrollment and therapy initiation [22][23]. - The company is leveraging AI and digital approaches to enhance its educational outreach to healthcare professionals and patients [20][19]. Q&A Session Summary Question: What are the growth drivers for Arclis? - The growth is driven by increased education and understanding of recurrent pericarditis among healthcare providers, leading to a broader prescriber base and higher patient enrollments [18][19]. Question: How does Medicare Part D impact patient treatment? - The changes in Medicare Part D have made therapy more affordable for patients, resulting in a one-time bolus of patients transitioning from free goods to paid therapy [22][23]. Question: What is the average treatment duration for Arclis? - The average treatment duration is reported to be 30 months, with many patients restarting therapy quickly if symptoms return [26][27]. Question: What is the strategy for KPL-387? - KPL-387 is being developed as a monthly auto-injector formulation, with strong interest from both healthcare professionals and patients, indicating a potential expansion of the market for interleukin inhibitors [40][42]. Question: What are the benefits of the Fc modified IL-1 antagonist, eleven sixty one? - The Fc modification allows for longer circulation times and potentially quarterly dosing, which could be beneficial for chronic diseases requiring long-term management [56][57].