Adjusted EBITDA was positive $12.5 million, improving by nearly $13 million compared to the prior year.
Gross margin was 82% for the quarter, slightly below Q1 due to nonroutine expenses related to Gvoke capacity expansion.
Gvoke revenue increased 17% to $23.5 million, supported by a 5% growth in total prescriptions and favorable gross-to-net adjustments.
Keveyis revenue rose modestly to $11.5 million, with a slight increase in patient numbers and new patient starts.
R&D expenses increased by $2.2 million to $8.1 million, reflecting investments in pipeline products including XP-8121.
Recorlev revenue surged 136% year-over-year to $31.4 million, with a 122% increase in the average number of patients on therapy.
SG&A expenses rose 11% year-over-year to $44.4 million, mainly due to Recorlev commercial expansion and personnel costs.
Xeris Biopharma reported a 49% year-over-year increase in total revenue to $71.5 million in Q2 2025, driven by a 46% increase in net product revenue to $67.7 million.
Adjusted diluted earnings per share were $0.17, and adjusted EBITDA was $17 million.
Adjusted gross margins stood at 55.7%, with SG&A expenses at 45.2% of revenue.
A noncash goodwill impairment charge of $77 million was recorded in the Pain Management and Recovery segment due to downward market capitalization pressure.
Avanos reported net sales of $175 million in Q2 2025, adjusted for foreign exchange and portfolio changes, with organic sales up 2% year-over-year.
Balance sheet remains strong with $90 million cash and $105 million debt, maintaining leverage below 1 turn.
Free cash flow was negative $4 million for the quarter, affected by tax payments timing and higher capital expenditures.
Pain Management and Recovery segment's normalized organic sales increased 3.4%, with strong 13.8% growth in the radiofrequency ablation (RFA) business.
Specialty Nutrition Systems segment grew 5% organically, with operating profit near 18%, impacted by tariffs and cost absorption.
Adjusted EBITDA was $14.5 million, a 24% increase year-over-year, with adjusted EPS of $0.05 for the quarter.
Adjusted gross margin improved by 140 basis points to 71.5%, reflecting operational efficiencies and favorable test mix.
Average revenue per test grew 2% year-over-year, driven by favorable test mix, sales targeting, revenue cycle projects, and expanding payer coverage.
GeneSight revenue declined 12% year-over-year due to UnitedHealthcare coverage changes but volume growth rebounded to 5% in Q2.
Hereditary cancer testing revenue grew 9% year-over-year, with oncology channel volume up 14%.
Myriad Genetics reported Q2 2025 revenue of $213 million, a 5% increase year-over-year excluding impacts from UnitedHealthcare's GeneSight coverage decision and the divested European EndoPredict business.
Prenatal revenue grew 7% year-over-year despite a 7% volume decline due to order management system issues, which have since been resolved.
Prolaris revenue grew 4% year-over-year, with volume up 6% sequentially from Q1 2025.
The company recognized a noncash goodwill and intangible impairment charge of $317 million due to market capitalization decline, excluded from non-GAAP EPS.
Jornay prescriptions increased by 23% year-over-year in Q2 2025, indicating strong growth momentum.
Market share of Jornay in the long-acting branded methylphenidate market grew to 23%, up 7.6 percentage points from the previous year.
The prescriber base for Jornay reached over 26,000, a 23% increase compared to Q2 2024, with efforts focused on expanding awareness and adoption.
The company expanded its ADHD sales force by approximately 55 representatives, now totaling around 180, targeting 21,000 prescribers, up from 17,000.
Market research shows over 60% of healthcare professionals intend to increase Jornay prescriptions, and unaided awareness is just over 50%, ranking it second after Vyvanse and Concerta.
The company is investing in targeted marketing campaigns and digital outreach to capitalize on the back-to-school season, aiming to boost awareness and prescriptions.
Management emphasizes the importance of adult ADHD market growth, with Jornay already generating 20% of its business from adult patients, and expects this to increase.
Cash and receivables totaled over $850 million, including the $175 million milestone payment.
Combined R&D and SG&A expenses were $123 million, a 41% reduction from the prior year, with SG&A down 57% due to the transfer of commercial activities to Sanofi and infrastructure reductions.
Licensing, royalties, and other revenue totaled $229 million, primarily from Sanofi ($199 million) and Takeda ($27 million) agreements.
Net income was $107 million or $0.62 per diluted share for Q2 2025.
Novavax reported total revenue of $239 million in Q2 2025, down from $415 million in Q2 2024, including a $175 million milestone payment from Sanofi for FDA BLA approval of Nuvaxovid in the U.S.
Product sales were $11 million, with $13 million from supply sales and negative $2 million from Nuvaxovid product sales due to U.S. market closeout and return reserves.
Management reports healthy same-store sales growth in Sterigenics, with no material pull-forward effects from supply chain shifts or tariffs.
The company is actively engaging with customers on supply chain optimization but has not observed significant volume increases due to supply chain relocations.
Future opportunities for supply chain optimization are being explored, but current capacity and performance remain stable, with no adverse impact on growth.
BioMarin achieved double-digit year-over-year revenue growth with total revenues growing 16% in Q2 2025 and 15% in the first half of 2025 compared to 2024.
Enzyme Therapies revenue rose 15% year-over-year to $555 million, with PALYNZIQ and VIMIZIM showing strong growth of 20% and 21% respectively.
Non-GAAP diluted EPS was $1.44 in Q2, increasing more than 3x the rate of revenue growth, with full year guidance raised to $4.40-$4.55.
Non-GAAP operating margin expanded significantly in Q2 and full year 2025 guidance for operating margin was raised to 33%-34%.
Non-GAAP R&D expenses decreased compared to Q2 2024 due to focused investment in prioritized assets.
Non-GAAP SG&A expenses increased due to ERP system implementation and strategic initiatives.
Operating cash flow reached $185 million in Q2, a 55% increase versus Q2 2024.
ROCTAVIAN revenue was $9 million in Q2, led by the U.S. and Italy.
VOXZOGO revenue increased 20% year-over-year to $221 million in Q2, driven by global expansion and new patient starts.
Dafinchi
