Financial Data and Key Metrics Changes - In Q4 2025, total revenue reached $168.4 million, a 144% increase year-over-year [16] - U.S. net product revenue was $43.7 million, up approximately 38% from $31.6 million in Q4 2024 [16] - Collaboration revenue surged to $124.7 million, a 232% increase compared to $37.6 million in Q4 2024, driven by a one-time payment of $90 million from Otsuka [16] - The company ended 2025 with $167.9 million in cash and reduced debt by $55 million [15] Business Line Data and Key Metrics Changes - The U.S. bempedoic acid franchise saw strong prescription growth, with Q4 year-over-year sales increasing by 38% and retail prescription equivalents rising by 34% [7] - The number of unique healthcare practitioners prescribing NEXLETOL and NEXLIZET increased by nearly 25% [7] Market Data and Key Metrics Changes - Daiichi Sankyo Europe reported a 51% increase in Q4 royalty revenue compared to Q4 2024, expanding access to 30 countries [9] - The Japanese partner, Otsuka, successfully launched NEXLETOL in Japan, exceeding early market expectations [9] Company Strategy and Development Direction - The company introduced Vision 2040, outlining long-term ambitions and a roadmap for growth, including the acquisition of Corstasis Therapeutics [5] - The acquisition of Corstasis is expected to enhance the company's portfolio with Enbumyst, a first-in-class intranasal diuretic, and expand its presence in the cardiometabolic market [11][14] - The company aims to grow its two franchises to multi-billion-dollar potential [7] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continuing momentum into 2026, driven by strong reimbursement and favorable positioning in U.S. dyslipidemia guidelines [8] - The American College of Cardiology's recognition of the link between inflammation and cardiovascular disease is expected to support the use of bempedoic acid [8] - The company anticipates significant growth opportunities in the heart failure market with the launch of Enbumyst [13] Other Important Information - The company plans to fully leverage its commercial team's cardiovascular sales presence to scale adoption of Enbumyst [14] - The transaction for the acquisition of Corstasis is expected to close in Q2 2026 [14] Q&A Session Summary Question: Capacity and next steps for Corstasis - Management confirmed they are ready for the launch and will provide updates on the auto-injector after the deal closes [22][25] Question: Updates on ACC guidelines - Management expects the guidelines to be released a week before the ACC conference and is preparing a cross-functional plan for the medical community [28][32] Question: Impact of EU guidelines on U.S. prescribing - Management noted that the European guidelines have positively influenced U.S. prescribing and anticipates similar effects from the upcoming U.S. guidelines [39][44] Question: Triple combination products and market research - Management indicated high excitement for the triple combination therapy and clarified that it does not muddy the messaging around statin intolerance [61][62] Question: Corstasis clinical obligations and updates - There are minimal post-market obligations for Enbumyst, and management does not expect them to significantly impact operations [70] Question: Risks of concessions in 2026 - Management stated they do not foresee the need for concessions, emphasizing strong coverage and outcomes data [56]

Financial Data and Key Metrics Changes - The company reported total revenue of $168.4 million for Q4 2025, an increase of 144% year-over-year [16] - U.S. net product revenue reached $43.7 million, up approximately 38% from $31.6 million in Q4 2024 [16] - Collaboration revenue surged to $124.7 million, a 232% increase compared to $37.6 million in Q4 2024, driven by a one-time payment of $90 million from Otsuka [16] - The company ended 2025 with $167.9 million in cash and reduced debt by $55 million [15] Business Line Data and Key Metrics Changes - The U.S. bempedoic acid franchise saw strong prescription growth, with Q4 year-over-year sales increasing by 38% and retail prescription equivalents rising by 34% [7] - The number of unique healthcare practitioners prescribing NEXLETOL and NEXLIZET increased by nearly 25% [7] Market Data and Key Metrics Changes - Daiichi Sankyo Europe reported a 51% increase in fourth quarter royalty revenue compared to Q4 2024, expanding access to 30 countries [9] - The Japanese partner, Otsuka, successfully launched NEXLETOL in Japan, exceeding early market expectations [9] Company Strategy and Development Direction - The company introduced its Vision 2040 strategy, aiming for long-term growth and the acquisition of Corstasis Therapeutics to enhance its portfolio [5] - The acquisition of Corstasis is expected to provide global rights to Enbumyst, a first-in-class intranasal diuretic, expanding the company's presence in the cardiometabolic market [11][12] - The company plans to leverage its commercial team's cardiovascular sales presence to scale adoption of Enbumyst and accelerate revenue contribution [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in continuing momentum into 2026, driven by strong reimbursement and favorable positioning in U.S. dyslipidemia guidelines [8] - The American College of Cardiology's recognition of the link between inflammation and cardiovascular disease is expected to positively impact the company's products [8] - Management emphasized the importance of the upcoming U.S. guidelines and their potential to enhance awareness and prescribing of bempedoic acid [35][44] Other Important Information - The company anticipates completing clinical and regulatory requirements for its triple combination programs by 2027 [8] - The planned acquisition of Corstasis is expected to close in Q2 2026, further strengthening the company's market position [14] Q&A Session Summary Question: Capacity and next steps for Corstasis - Management confirmed they are prepared for the launch and have sufficient capacity for the product [23] Question: Updates on ACC guidelines - Management expects the guidelines to be released a week before the ACC conference and is preparing a comprehensive plan for the medical community [29][32] Question: Impact of EU guidelines on U.S. prescribing - Management noted that the sentiment from U.S. physicians is positive regarding the European guidelines, which could lead to increased awareness and prescribing [42][44] Question: Triple combination product label expectations - Management indicated that the label for the triple combination will not carry outcomes data but will still be well-received by physicians [49] Question: Collaboration revenue guidance for 2026 - Management highlighted that collaboration revenue will be influenced by ongoing partnerships and the ramp-up of manufacturing [51] Question: Risks of additional concessions in 2026 - Management stated they do not foresee the need for concessions, as they have strong coverage and outcomes data to support their products [56]