Strong Revenue Growth
Total revenue for the 3 and 6 months ended June 30, 2025, was $70 million and $132.5 million, up 22% and 23%, respectively, from the same periods in 2024.
Increased Net Product Sales of LUPKYNIS
Net product sales for LUPKYNIS were $66.6 million and $126.5 million for the 3 and 6 months ended June 30, 2025, representing increases of 21% and 23%, respectively, from the same periods in 2024.
Positive Cash Flow from Operations
Cash flow generated from operations was $45.5 million for the 6 months ended June 30, 2025, compared to a negative $2.8 million in the same period of 2024.
Raised Full Year 2025 Revenue Guidance
Full year 2025 total revenue guidance was increased from $250-260 million to $260-270 million, and net product sales guidance was raised from $240-250 million to $250-260 million.
Successful Aritinercept Phase I Study
Reported positive results from the aritinercept Phase I single ascending dose study, with plans to initiate further clinical studies in the second half of the year.
Improved Gross Margin
Gross margin for the 3 and 6 months ended June 30, 2025, was 90% and 88%, respectively, compared to 84% and 85% in the same periods in 2024.
Reduced Operating Expenses
Total operating expenses decreased to $49.9 million and $90.5 million for the 3 and 6 months ended June 30, 2025, from $58.7 million and $122.3 million in the comparable periods of 2024.
Net Income Increase
Net income for the 3 and 6 months ended June 30, 2025, was $21.5 million and $44.9 million, respectively, compared to $722,000 and a net loss of $10 million in the same periods of 2024.