Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $110.6 million, a significant increase from $2.2 million in the same period last year, primarily driven by a $71.5 million increase in net product revenue from Atruvi [34][35] - Net product revenue for Atruvi reached $71.5 million, representing a 100% growth compared to Q1 2025 [9][26] - Operating costs and expenses increased to $244.8 million from $177.7 million year-over-year, largely due to a rise in SG&A expenses [36] Business Line Data and Key Metrics Changes - Atruvi's unique patient prescriptions reached 3,751 with 1,074 unique prescribers, showing growth in both new prescribers and depth of prescribing [8][9] - Weekly prescriptions for Atruvi grew over 30%, exceeding internal projections [9] - The launch of Atruvi has seen new patient additions at approximately 120 patients per week, up from 100 previously [26] Market Data and Key Metrics Changes - The ATTR cardiomyopathy market is expanding rapidly, with expectations for peak market size between $15 billion to $20 billion [27] - The company is capturing market share from treatment-naive patients, with an estimated market share of 18% to 20% in the treatment-naive segment [46] Company Strategy and Development Direction - BridgeBio aims to become a diversified biopharma company with multiple first-in-class assets targeting high unmet needs [18][19] - The company is focused on expanding its commercial infrastructure to support future launches, with each potential launch having peak sales potential exceeding $1 billion in the U.S. market [33][34] - The strategy includes enhancing access programs and increasing awareness to drive patient identification and treatment [10][18] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing growth trajectory of Atruvi and the potential for upcoming Phase III trial results to further validate their pipeline [37] - The company anticipates continued revenue growth driven by Atruvi and expects cash flow to extend through multiple value-creating milestones [36][37] Other Important Information - The company has a strong cash position of $756.9 million, bolstered by strategic monetization efforts [36] - Management highlighted the importance of scientific data in driving commercial momentum and patient access [47][48] Q&A Session Summary Question: What is driving the increase in patient adds? - The increase is attributed to strength in treatment-naive starts and continued switch activity, with the market expanding due to increased screening and awareness [44][45] Question: How have the trends evolved regarding the 28-day free trial and patient assistance programs? - Normalization was observed in the utilization of the 28-day free trial and patient assistance programs, which is crucial for serving under-penetrated populations [50][53] Question: What are the competitive dynamics in the market? - The company is facing more pressure in the switch category but is seeing strong growth in treatment-naive patients, with no significant price competition observed [80][82] Question: What are the key metrics for the upcoming Phase III CALIBRATE trial? - A successful study would be defined by a majority of patients achieving normalization of both blood and urine calcium levels, which are critical biomarkers for the condition [70][71] Question: How does the company view the potential market share for its pipeline products? - The company believes that a successful study in ADH1 could significantly de-risk further evaluations in chronic hypoparathyroidism, given the strong genetic link [99][100]

Financial Data and Key Metrics Changes - Total revenues for Q2 2025 were $110.6 million, a significant increase of $108.4 million compared to $2.2 million in the same period last year, primarily driven by net product revenue from Etruevi [32][33] - Net product revenue from Etruevi reached $71.5 million, representing a 100% growth over Q1 2025 [23][32] - Operating costs and expenses increased to $244.8 million from $177.7 million year-over-year, with a notable rise in SG&A expenses [33][34] - The company ended Q2 with a strong cash position of $756.9 million, bolstered by proceeds from Etruevi sales and strategic monetization of royalties [35] Business Line Data and Key Metrics Changes - Etruevi's launch has seen 3,751 unique patient prescriptions and 1,074 unique prescribers, with over 30% growth in weekly prescriptions [6][7] - The company reported a doubling of net product revenue for Etruevi, with strong demand across major prescribers and patient segments [32][33] - The ATTR cardiomyopathy market is expanding rapidly, with peak market potential estimated between $15 billion to $20 billion [24] Market Data and Key Metrics Changes - The company is experiencing growth in both treatment-naive patients and those switching from other therapies, driven by increased screening and awareness [42][46] - The market for ATTR cardiomyopathy is expanding, with the company capturing an estimated 18% to 20% share of the treatment-naive population [45][46] Company Strategy and Development Direction - BridgeBio aims to become a diversified biopharma company with multiple first-in-class assets targeting high unmet needs [16][22] - The company is focused on expanding access to Etruevi and enhancing its clinical differentiation through ongoing research and publications [88][89] - Future launches are anticipated to have peak sales potential exceeding $1 billion in the U.S. market [30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing growth trajectory of Etruevi, supported by strong clinical data and a commitment to patient access [29][88] - The company is optimistic about upcoming Phase III trial results for ADH1 and LGMD2I, which are expected to provide significant insights into their therapeutic potential [20][35] Other Important Information - The company has published significant clinical data reinforcing Etruevi's efficacy, particularly in specific subpopulations such as those with cardiac arrhythmia [13][14] - Management highlighted the importance of early intervention in treatment, emphasizing the need for rapid patient identification and action [15][86] Q&A Session Summary Question: What is driving the increase in patient adds? - Management noted strength in treatment-naive starts and increased screening and awareness as key drivers of patient adds [42][43] Question: How have the utilization trends for the free trial and patient assistance programs evolved? - Management confirmed normalization in the utilization of the free trial and patient assistance programs, which are crucial for serving under-penetrated populations [49][51] Question: What is the competitive landscape for Atruvi? - Management indicated that competition is more pronounced in the switch category, with a focus on clinical differentiation rather than aggressive pricing strategies [78][81] Question: What are the expectations for the upcoming Phase III CALIBRATE trial for INCALIORET? - A successful study is anticipated to show a majority of patients achieving normalization of blood and urine calcium, which would be a significant advancement for the community [68][69] Question: How does the company view the potential for hypoparathyroidism based on ADH1 results? - Management expressed confidence that positive results in ADH1 would de-risk further evaluation in chronic hypoparathyroidism, highlighting the importance of rapid and durable benefits [101][102]