ARCALYST collaboration profit grew 75% year-over-year to $104.8 million in Q2 2025, driven by sales volume and disciplined commercial investments.
ARCALYST net revenue was $156.8 million in Q2 2025, a 52% year-over-year increase driven by new patient enrollments, prescribers, and active commercial patients.
Cash balance increased by approximately $40 million to $307.8 million in Q2 2025, with expectations to remain cash flow positive on an annual basis.
Net income was $17.8 million in Q2 2025 compared to a net loss of $3.9 million a year ago, reflecting strong revenue growth and moderate expense growth.
Operating expenses grew 26% year-over-year due to cost of goods sold, collaboration expenses, and SG&A supporting ARCALYST commercialization.
Cash and investments at June 30 were $515 million, reflecting $115 million of common stock repurchased in the second quarter.
Korlym prescriptions volume grew by 49% year-over-year, though revenue growth was impacted by pharmacy capacity constraints estimated at a $15 million impact in Q2.
Net income was $35.1 million compared to $35.5 million in the second quarter of last year.
Revenue in the second quarter of 2025 was $194.4 million, compared to $163.8 million in the prior year period.
The company modified its 2025 revenue guidance to $850 million to $900 million.