Idorsia Ltd. reported net revenue of CHF 173.0 million for the first nine months of 2025, an increase from CHF 53.0 million in the same period of 2024. For the third quarter of 2025, net revenue was CHF 41.0 million compared to CHF 26.0 million in the third quarter of 2024. Operating expenses for the first nine months were CHF 162.0 million, down from CHF 211.0 million in the prior year period. The company recorded an operating income of CHF 23.0 million for the first nine months of 2025, compared to an operating loss of CHF 154.0 million in 2024. Net loss for the nine-month period was CHF 34.0 million, improving from a net loss of CHF 180.0 million in the prior year. Basic earnings per share for the period was CHF -0.17, compared to CHF -1.00 in 2024. Idorsia reiterated its 2025 full-year financial guidance and remains focused on reaching profitability by the end of 2027. The company's financing in October 2025 of CHF 65.6 million extends its cash runway into 2028, subject to refinancing of the new money facility. The company expects continued growth of QUVIVIQ, with net sales of around CHF 130.0 million for the year, cost of goods sold of approximately CHF 15.0 million, SG&A expenses of about CHF 200.0 million, and R&D expenses of roughly CHF 90.0 million, leading to non-GAAP operating expenses of around CHF 305.0 million. Idorsia's non-GAAP net loss for the first nine months of 2025 was CHF 65.0 million. This figure differs from the US GAAP net income due to a one-off gain from the amendment of the Viatris deal, depreciation and amortization, accretion expenses, and a debt adjustment. The company projects a US GAAP operating loss for the global business of approximately CHF 55.0 million for the full year, excluding unforeseen events and additional business development activities.