Financial Data and Key Metrics Changes - Second quarter net product sales were $28.8 million, down from $30.7 million in the prior year quarter [17] - GAAP net income for the second quarter was $16.4 million compared to a loss of $3.7 million in the prior year [19] - Adjusted EBITDA for the second quarter was $5.6 million, up from $3.1 million in the prior year quarter [20] - Cash, cash equivalents, and short-term investments totaled $98.2 million as of June 30, 2025, an increase from $87.3 million as of March 31, 2025 [20] Business Line Data and Key Metrics Changes - ROLVOIDON sales were $16.1 million, up from $15.1 million in the prior year quarter, driven by higher volume and favorable returns reserve adjustment [17] - SYMPAZAN sales were $3.2 million, up from $2.7 million in the prior year period, reflecting higher volume and favorable payer mix [18] - INDOCIN sales were $3.0 million, down from $6.9 million in the prior year quarter due to expected generic competition [18] Market Data and Key Metrics Changes - Demand for ROLVOIDON and SYMPAZAN remains strong, with a nearly 20% increase in demand from Q1 to Q2 [27] - The company has finalized its third national agreement for ROLVOIDON with a leading national payer, indicating continued momentum in market access strategy [12] Company Strategy and Development Direction - The company is in the transformation phase of its three-part business strategy, focusing on actions intended to catalyze future growth potential [7] - The strategy includes reducing legal exposure, simplifying corporate structure, prioritizing investments in growth assets, and divesting non-core assets [9] - The company aims to pivot towards specialty pharma assets with long-term growth potential [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term business strategy, indicating that the company has reached an inflection point [15] - The updated guidance for net product sales is $108 million to $118 million, and for adjusted EBITDA is $11 million to $19 million [21] Other Important Information - The company has settled multiple legal matters, reducing ongoing operating costs and future uncertainty [10] - The decision to cease commercialization of OTREXUP is expected to free up resources for growth assets and improve profitability [13] Q&A Session Summary Question: Understanding ROLVOIDON sales in the quarter - Management confirmed that the true ROLVOIDON sales, after accounting for reserves, reflect a growth of 10.7% [25] Question: Market opportunities and potential deals - Management stated that they have not missed out on any significant opportunities but are being selective in pursuing deals that fit their model [28][30] Question: Guidance range and impact of generic competition - Management indicated that they will be in a better position to narrow the guidance range in November, with other strategic factors also influencing the range [32][34] Question: Remaining litigation matters - Most litigation matters have been closed, with only some shareholder lawsuits remaining [38] Question: Drivers of ROLVOIDON demand - Expanding the customer base has significantly driven demand growth, with expectations for continued growth into 2026 [39] Question: Cost savings from halting OTREXUP commercialization - Expected cost savings from OTREXUP are in the range of $2 million to $3 million, primarily from reduced marketing and PDUFA fees [45] Question: Same day dosing data impact - Increased interest in same day dosing is noted, with hopes for publication in a peer-reviewed journal this year [50] Question: Future sales levels for SYMPAZAN - Management anticipates that SYMPAZAN net sales could reach between $25 million and $30 million in the next several years [54]