Financial Data and Key Metrics Changes - Group revenues increased by 63% year on year, reaching $390 million, driven by growth in Elucix and the addition of third-party revenue from RLS [9][10] - Precision medicine revenues rose by 30% year on year, with EBITDA improving by 24% [9] - Gross margins in the precision medicine business remained stable at 64%, while the group's overall gross margin was 53% [9][10] Business Line Data and Key Metrics Changes - The precision medicine business saw a revenue increase of 29%, with EBITDA improving by $20 million year on year [14] - RLS contributed $79 million in third-party sales, with a gross margin of 7% [10][16] - Selling and marketing expenses increased to 13% of revenue from 10% last year, reflecting preparations for product and geographic expansion [12] Market Data and Key Metrics Changes - Elucix continues to deliver strong growth, with revenues up 25% year on year and dose volumes up 7% [43] - The global rollout of Elucix is progressing well, with marketing authorizations secured in over 23 countries [45] - The company is focusing on expanding into key markets such as France, Germany, Italy, Spain, China, and Japan [45] Company Strategy and Development Direction - The company is transitioning from a single product to a multi-product, multi-region organization, with a focus on long-term growth rather than short-term EPS optimization [21][25] - Strategic investments have been made in R&D, commercial performance, M&A opportunities, and supply chain resilience [19] - The acquisition of RLS is seen as a critical move to enhance U.S. presence and improve distribution capabilities [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate the current operating environment and emphasized the importance of strategic investments for long-term growth [21][39] - The company is focused on building long-term asset value and is committed to delivering value for shareholders and patients [75] - Management acknowledged the SEC inquiry but clarified that it has no impact on the commercial portfolio or pipeline development [39] Other Important Information - The company has made significant investments in its global manufacturing infrastructure, with cash on hand at $27 million [10][18] - R&D investments increased by 47% year on year, reflecting a commitment to advancing the therapeutic pipeline [10][12] Q&A Session Summary Question: Outlook for gross margins and impact of PSMA pricing changes - Management noted that Elucix's gross margin remained consistent at 64% and that RLS's gross margin is expected to improve as more Elucix products are integrated [80][81] Question: Guidance and growth of Elucix moving forward - Management confirmed that July 1 marked the end of pass-through status for one product, but they reported 7% growth quarter on quarter, indicating strong performance despite market challenges [86][87] Question: Launch readiness for Zurkayx - Management indicated that specific details about the launch readiness for Zurkayx could not be disclosed at this time [95]

Financial Data and Key Metrics Changes - Group revenues improved by 63% year on year, reaching $390 million, driven by growth in Elucix and the addition of third-party revenue from RLS [7][8][9] - Precision medicine revenues increased by 30% year on year, with EBITDA improving by 24% [7][8] - Gross margins in the precision medicine business remained stable at 64%, while the group's gross margin was 53% [8][11] Business Line Data and Key Metrics Changes - The precision medicine business saw a revenue increase of 29%, with adjusted EBITDA improving by $20 million year on year [12][13] - RLS contributed $79 million in revenues, with gross margins at 7% [14][15] - Selling and marketing expenses increased to 13% of revenue from 10% last year, reflecting preparations for product and geographic expansion [11] Market Data and Key Metrics Changes - The company secured marketing authorizations for Elucix in over 23 countries, with ongoing launches in key markets like France, Germany, Italy, and Spain [42][43] - The global rollout of Elucix is progressing well, with strong uptake in the UK following its launch [41][42] Company Strategy and Development Direction - The company is focused on four strategic pillars: expanding precision medicine, delivering on late-stage therapeutics, building a next-generation pipeline, and expanding global delivery infrastructure [4][17] - The acquisition of RLS is seen as a strategic investment to enhance US presence and improve manufacturing capabilities [27][31] - The company aims to transition from a single product to a multi-product, multi-region organization, leveraging its global infrastructure for future therapeutic rollouts [23][26] Management's Comments on Operating Environment and Future Outlook - Management emphasized the importance of maintaining operational efficiency and investing in R&D to support long-term growth [8][19] - The company is committed to building long-term asset value rather than optimizing near-term EPS growth, focusing on strategic investments to unlock the full potential of its pipeline [19][20] - Management expressed confidence in the company's ability to navigate the current operating environment and continue delivering value to shareholders [74] Other Important Information - The company is responding to an SEC subpoena regarding disclosure activities related to prostate cancer therapeutic candidates, clarifying that there are no allegations or charges against the company [36] - The company is focused on maintaining a healthy cash position, ending the half-year with $27 million in cash on hand [8][16] Q&A Session Summary Question: Outlook for gross margins and impact of PSMA pricing changes - Management noted that Elucix's gross margin remained consistent at 64%, while RLS achieved a 7% gross margin [79][80] - The integration of RLS is expected to improve gross margins as more Elucix products are distributed through the RLS network [81] Question: Guidance and growth of Elucix moving forward - Management confirmed that July 1 marked the end of pass-through status for one product, but reported 7% growth quarter on quarter in volume [86][87] - The company is implementing a stabilization strategy to bridge the gap between products coming off and gaining reimbursement [88][89] Question: Launch readiness for Zurkayx - The commercial team is prepared for the launch, leveraging existing customer relationships from Elucix [94][96] - An expanded access program has been successful, indicating strong market readiness for Zurkayx [95][96]