Fennec Pharmaceuticals Inc. (FENC) 2026 Q2 法說會逐字稿

Good morning, ladies and gentlemen, and welcome to Fennec Pharmaceuticals' second-quarter 2026 earnings and corporate update conference call. (Operator Instructions) As a reminder, today's conference call is being recorded.

各位女士、先生，早安，歡迎參加 Fennec Pharmaceuticals 2026 年第二季財報與公司營運更新電話會議。(接線員指示) 提醒各位，今天的電話會議將被錄音。

Now, I'd like to turn the conference over to Fennec's Chief Financial Officer, Robert Andrade.

現在，我想把電話會議交給 Fennec 的財務長 Robert Andrade。

Thank you, operator, and good morning, everyone. We would like to thank you for joining us. We are pleased to host Fennec Pharmaceuticals' second-quarter 2026 earnings conference call today, during which we will review our financial results as well as provide a general business update.

謝謝接線員，各位早安。感謝各位加入我們。我們很高興在今天主持 Fennec Pharmaceuticals 2026 年第二季財報電話會議，會中我們將回顧財務結果，並提供一般性的業務更新。

Joining me from Fennec this morning is our Chief Executive Officer and Board member, Jeff Hackman; our Chief Commercial Officer, Terry Evans; and our Chief Medical Officer, Dr. Pierre Sayad. I am also pleased to welcome our Chief Strategy Officer, Christi Cioffi, who is joining our earnings call for the first time.

今天早上與我一同出席的 Fennec 團隊成員包括：我們的執行長暨董事會成員 Jeff Hackman；我們的商務長 Terry Evans；以及我們的醫務長 Pierre Sayad 醫師。我也很高興歡迎我們的策略長 Christi Cioffi，她是首次參加我們的財報電話會議。

Christi has more than two decades of leadership experience, spanning commercial strategy, brand building, and organizational development, including nearly 15 years of expertise leading award-winning commercialization and launch strategies across the product lifecycle. She has held senior commercial leadership roles at a number of leading biopharmaceutical companies, including Shield Therapeutics, Stemline Therapeutics, EUSA Pharma, Karyopharm Therapeutics, Servier, previously Shire/Baxalta/Baxter, and Abbott Laboratories, where she helped build and grow oncology, rare disease, and hematology brands from early development through commercialization.

Christi 擁有超過二十年的領導經驗，涵蓋商業策略、品牌打造與組織發展，其中近 15 年專精於在產品生命週期各階段領導屢獲獎項的商業化與上市策略。她曾在多家領先的生物製藥公司擔任資深商業領導職務，包括 Shield Therapeutics、Stemline Therapeutics、EUSA Pharma、Karyopharm Therapeutics、Servier，以及先前的 Shire/Baxalta/Baxter，並在 Abbott Laboratories 協助打造並擴展腫瘤、罕見疾病與血液學品牌，從早期開發一路推進至商業化。

As a graduate of West Point, Christi also served our country as a decorated U.S. Army veteran and Bronze Star recipient, leading soldiers during two deployments in Operation Iraqi Freedom. Later in the call, Christi will speak to how recent cross-functional efforts are supporting our long-term growth plans. Additionally, Dr. Pierre Sayad will provide a medical affairs update, and Terry Evans will speak to our commercial progress.

Christi 畢業於西點軍校，也曾以受勳的美國陸軍退伍軍人與銅星勳章得主身分為國效力，在「伊拉克自由行動」兩次部署期間帶領官兵。在稍後的會議中，Christi 將說明近期跨部門的努力如何支持我們的長期成長計畫。此外，Pierre Sayad 醫師將提供醫務事務更新，Terry Evans 則將分享我們的商業進展。

Before we begin, I would like to remind you that, during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. Reference to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the United States Securities and Exchange Commission.

在開始之前，我想提醒各位，本次電話會議中公司將發表前瞻性陳述；此類陳述受風險與不確定性影響，可能導致實際結果與前瞻性陳述中討論的結果有所差異。關於這些風險與不確定性的說明，已載於今日新聞稿，並在公司向美國證券交易委員會提交的定期與重大事件申報文件中詳加揭露。

In addition, any forward-looking statements made on this call represent our views only as of today and should not be relied upon as representing our views as of any subsequent date. We specifically disclaim any obligation to update or revise any forward-looking statements.

此外，本次電話會議中的任何前瞻性陳述僅代表我們截至今日的觀點，不應被依賴為代表任何後續日期的觀點。我們明確聲明不負有更新或修訂任何前瞻性陳述之義務。

This conference call is being recorded for audio rebroadcast on Fennec's website, www.fennecpharma.com, where it will be available for the next 30 days.

本次電話會議將錄音並於 Fennec 官網 www.fennecpharma.com 提供音訊重播，未來 30 天內可供收聽。

I will now turn the call over to Jeff Hackman.

現在我把電話交給 Jeff Hackman。

Thank you, Robert, and good morning, everyone. Thank you all for joining us here today.

謝謝你，Robert，各位早安。感謝各位今天加入我們。

So before we dive into the quarter, I'd like to take a moment to reflect on how far we've come as an organization. Two years ago, I joined Fennec with clear objectives: build the team, sharpen our execution, and position the company for sustainable long-term growth. Over that time, we've built a talented and experienced leadership team, deep expertise across commercial, medical affairs, clinical development, and corporate strategy. Today, you'll have the opportunity to hear from each of them about the progress that they're making in their business.

在我們深入本季之前，我想先花一點時間回顧我們作為一個組織一路走來的成果。兩年前我加入 Fennec 時，目標很明確：建立團隊、強化執行力，並讓公司具備可持續的長期成長定位。在這段期間，我們建立了一支才華洋溢且經驗豐富的領導團隊，在商業、醫務事務、臨床開發與公司策略方面都具備深厚專業。今天，各位將有機會聽到他們每一位分享其業務推進的進展。

We also expanded our customer-facing team, as you know, to reach a larger prescriber target base with a greater frequency, increasing the numbers from 1,300 to roughly 5,000 targets. Together, we built an organization that is focused, accountable, and aligned around delivering for our patients, our healthcare providers, and our shareholders.

如各位所知，我們也擴大了面向客戶的團隊，以更高頻率觸及更大的處方醫師目標族群，將目標數量從 1,300 位提升至約 5,000 位。我們共同打造了一個聚焦、負責任，並以為病患、醫療照護提供者與股東創造價值為一致目標的組織。

I'm proud of what we accomplished. Since I joined the company, we've increased revenue by 143%, driven by a unified strategy, consistent execution, and a disciplined focus on the fundamentals of our business. Perhaps most importantly, we've demonstrated that this isn't the result of any single initiative or quarter. It's been built through steady execution, expanding our commercial reach, strengthening our clinical evidence base, investing in targeted talent across this organization, and maintaining a strong financial foundation.

我為我們所完成的成果感到自豪。自我加入公司以來，我們的營收成長了 143%，這得益於一致的策略、持續的執行，以及對業務基本面的紀律性聚焦。也許最重要的是，我們已證明這並非任何單一計畫或單一季度的成果。這是透過穩健的執行、擴大商業觸及、強化臨床證據基礎、在全組織投資關鍵人才，以及維持強健的財務根基所逐步建立起來的。

Today's results, including our seventh consecutive quarter of growth, reflect momentum we've created and the commitment of our entire organization. I'd like to thank everyone here and take this opportunity to thank all Fennec employees for their exceptional work to help ensure that these patients facing cancer treatment can continue to hear the moments that make life most meaningful.

今天的結果，包括我們連續第七個季度的成長，反映了我們所創造的動能以及全體同仁的投入。我想在此感謝在場各位，也藉此機會感謝所有 Fennec 員工的卓越付出，協助確保這些面臨癌症治療的病患能持續聽見生命中最有意義的時刻。

While we're proud of our progress, we also believe we're still in the early stages of our opportunity. As you'll hear today, we're continuing to invest in the drivers that we believe will support long-term growth, from generating additional clinical evidence and expanding physician engagement to building awareness and ensuring that we have resources to execute on our strategies.

雖然我們為進展感到自豪，但我們也相信我們仍處於機會的早期階段。如各位今天將聽到的，我們持續投資於我們相信能支持長期成長的驅動因素，包括產出更多臨床證據、擴大醫師互動、提升認知度，以及確保我們具備執行策略所需的資源。

One of those drivers in Q2 was breaking new ground in a disease awareness campaign, bringing the conversation around testicular cancer to the Indianapolis 500 and introducing Fennec and our mission to millions of fans and forging meaningful connections across the oncology community. Christi will go much deeper into detail on the impact of this campaign shortly.

其中一項第二季的驅動因素，是在疾病認知宣導活動上開創新局，將睪丸癌的對話帶到印第安納波利斯 500 大賽，向數以百萬計的車迷介紹 Fennec 與我們的使命，並在腫瘤社群中建立有意義的連結。Christi 稍後將更深入說明這項活動的影響。

As a reminder, PEDMARK is currently approved for pediatric patients one month of age and older with localized non-metastatic solid tumors and is also recognized by the National Comprehensive Cancer Network with the 2A recommendations for use in AYA patients.

提醒各位，PEDMARK 目前已核准用於年齡滿一個月以上、罹患局部非轉移性實體腫瘤的兒科病患，並且也獲得美國國家綜合癌症網絡（NCCN）以 2A 等級建議用於 AYA 病患。

As we look ahead, we believe the investments we've made across our commercial organization, the clinical evidence generation efforts, and the financial foundation is translating into meaningful momentum. Encouraged by what we've seen so far in the third quarter, we are confident in our ability to continue to build on this progress and deliver sustainable growth.

展望未來，我們相信我們在商業組織、臨床證據產出工作，以及財務根基方面所做的投資，正轉化為具意義的動能。基於我們在第三季迄今所見的表現而備受鼓舞，我們對持續在此進展上再接再厲、並實現可持續成長充滿信心。

So with that, I'll turn it over to Christi for a more detailed update on our disease awareness efforts and our presence at ASCO.

接下來，我把時間交給 Christi，請她更詳細更新我們的疾病認知推廣工作以及我們在 ASCO 的參與情況。

Thank you, Jeff.

謝謝你，Jeff。

As Jeff just mentioned, over the past two years, we've been very intentional about evolving not only how we position PEDMARK but also how we engage the oncology community. In 2025, we reinvented our commercial approach with a bold, differentiated branded campaign called Survival Should Be Loud. This campaign challenges convention, resonates strongly with oncologists, and has helped to establish a leadership position for both PEDMARK and Fennec.

正如 Jeff 剛才提到的，過去兩年我們非常有意識地推動演進，不僅在於我們如何定位 PEDMARK，也在於我們如何與腫瘤社群互動。在 2025 年，我們以一個大膽、差異化的品牌活動「Survival Should Be Loud」重塑了我們的商業方法。這項活動挑戰傳統，與腫瘤科醫師產生強烈共鳴，並有助於為 PEDMARK 與 Fennec 建立領導地位。

Building on that momentum, 2026 represents the natural next phase of that evolution. In May, we launched a disruptive disease awareness initiative to wake up a broader audience to the issue of cisplatin-induced hearing loss, or CIO. As we've shared in the past, cisplatin is the cornerstone of testicular cancer treatment, transforming the disease from a frequently fatal diagnosis to one with a cure rate exceeding 95%.

在這股動能之上，2026 年代表這項演進的自然下一階段。5 月，我們啟動了一項具顛覆性的疾病認知倡議，喚醒更廣泛的受眾關注順鉑（cisplatin）誘發的聽力損失（CIO）議題。如我們過去所分享，順鉑是睪丸癌治療的基石，將這項疾病從過去常見的致命診斷，轉變為治癒率超過 95% 的疾病。

In support of this community, we created an innovative campaign targeting testicular cancer awareness called Indy's Nuts. This campaign, with multiple strategic collaborations, launched at the Indianapolis 500, one of the world's largest sporting events. Through sponsorships with race car driver Jack Harvey and NFL linebacker Alex Singleton, the campaign was intentionally designed to stop people in their tracks. This bold, unexpected creative concept included distribution of over 100,000 bags of peanuts. We sought to capture attention, spark curiosity, and encourage audiences to learn more.

為了支持這個社群，我們打造了一項以睪丸癌認知為主題、名為「Indy's Nuts」的創新宣導活動。此活動透過多項策略合作，在印第安納波利斯 500 大賽（全球最大型體育賽事之一）正式啟動。透過與賽車手 Jack Harvey 以及 NFL 線衛 Alex Singleton 的贊助合作，這項活動刻意設計為讓人停下腳步、引人注目。這個大膽且出其不意的創意概念包含發放超過 100,000 袋花生。我們希望吸引目光、激發好奇心，並鼓勵受眾進一步了解。

Our two important objectives: first, to encourage men to perform regular testicular self-exams and promote earlier diagnosis of testicular cancer; and second, to educate patients diagnosed with testicular cancer about the importance of discussing CIO and hearing prevention with their care teams before treatment begins. Additionally, we sponsored an educational event with leading KOLs from a renowned institution in the region to deepen understanding of CIO prevention and the role of PEDMARK.

我們的兩項重要目標：第一，鼓勵男性定期進行睪丸自我檢查，並促進更早診斷睪丸癌；第二，教育被診斷為睪丸癌的患者，在治療開始前與其照護團隊討論CIO與聽力預防的重要性。此外，我們與該地區一所知名機構的領先KOL共同贊助一場教育活動，以加深對CIO預防以及PEDMARK角色的理解。

Importantly, the initiative demonstrates our ability to reach and engage audiences well beyond traditional healthcare settings, further expanding awareness of both the disease and the unmet need surrounding CIO. We are extremely pleased by our campaign performance metrics that exceeded industry norms in several categories.

重要的是，這項倡議展現了我們有能力觸及並吸引遠超傳統醫療場域的受眾，進一步擴大對疾病本身以及圍繞CIO之未被滿足需求的認知。我們對本次活動的成效指標感到非常滿意，因其在多個類別上超越了產業常態。

The momentum did not stop at the speedway. We carried that same energy and awareness into the ASCO Annual Meeting, where the racing theme became a natural conversation starter at our booth. Through the draw of racing simulators and interactive experiences, we engaged with oncologists, advanced practitioners, nurses, patient advocates, and industry leaders in meaningful discussions about hearing preservation and the role of PEDMARK in addressing the unmet need of CIO.

這股動能並未止步於賽道。我們將同樣的能量與認知帶進ASCO年會，賽車主題在我們的攤位成為自然的開場話題。透過賽車模擬器與互動體驗的吸引力，我們與腫瘤科醫師、進階實務人員、護理師、病友倡議者及產業領袖進行有意義的交流，討論聽力保護以及PEDMARK在解決CIO未被滿足需求中的角色。

Throughout the meeting, the Fennec Speedway generated exceptional engagement and quickly became one of the most talked about exhibits on the show floor. It was even featured as a part of Fierce Pharma ASCO's wrap-up article. Our cross-functional team generated hundreds of HCP leads and received overwhelmingly positive feedback from attendees who appreciated both the interactive education and the important clinical conversation the booth enabled. Pierre will speak more about ASCO shortly.

在整個會議期間，Fennec Speedway帶來了卓越的互動參與，並迅速成為展場上討論度最高的展品之一。它甚至被收錄於Fierce Pharma ASCO的會後總結文章中。我們的跨職能團隊產生了數百筆HCP潛在客戶名單，並獲得與會者壓倒性的正面回饋；他們同時肯定互動式教育內容，以及攤位所促成的重要臨床對話。Pierre稍後將進一步談到ASCO。

For us, that was the ultimate validation. ASCO wasn't simply memorable. It created an effective platform to educate healthcare professionals, amplify our mission, and reinforce Fennec's leadership in changing the standard of care for the prevention of CIO.

對我們而言，這是最終的驗證。ASCO不僅令人難忘。它打造了一個有效的平台，用以教育醫療專業人員、放大我們的使命，並強化Fennec在改變CIO預防照護標準方面的領導地位。

With that, I will now turn the call over to Pierre for a medical update.

接下來，我將把電話會議交給Pierre，請他提供醫學最新進展。

Thank you, Christi, and good morning, everyone.

謝謝你，Christi，各位早安。

The second quarter for medical affairs was one defined by expansion. We have a fully trained, fully deployed MSL team. This team engaged with a record number of new HCPs as well as affiliated sites and HCOs in Q2, adding significantly to an already growing target base. In fact, our total unique HCP reach increased 63%, and unique affiliated sites increased 72%. This team is successfully converting the scientific field engagements from HCP educational gaps to further clinical conviction as we collaborate across functions to change the standard of care with PEDMARK.

第二季的醫學事務以擴張為主軸。我們已擁有一支完成全面訓練並全數部署的MSL團隊。該團隊在第二季與創紀錄數量的新HCP以及其所屬據點與HCO互動，為原本持續成長的目標客群大幅擴增。事實上，我們觸及的獨立HCP總數增加了63%，獨立所屬據點增加了72%。在我們跨部門協作、以PEDMARK推動改變照護標準的過程中，該團隊正成功將與HCP的科學性現場互動，從填補教育缺口轉化為更強的臨床信心。

During the quarter, we also advanced our evidence generation efforts with impactful presentations at ASCO and through an expanding portfolio of investigator-sponsored studies, or ISTs. In April, we announced a third IST with the University of Arizona Cancer Center to evaluate the use of PEDMARK in AYA and adult patients with head and neck and testicular cancers receiving cisplatin. This news follows the initiation of two other institutional-led clinical studies with Tampa General Hospital Cancer Institute and the City of Hope. These studies are actively accruing patients.

本季我們也透過在ASCO的具影響力發表，以及持續擴大的研究者贊助研究（IST）組合，推進證據產出工作。4月，我們宣布與亞利桑那大學癌症中心合作的第三項IST，評估PEDMARK在接受順鉑治療的青少年與年輕成人（AYA）及成人頭頸癌與睪丸癌患者中的使用。此消息延續了另外兩項由機構主導的臨床研究之啟動，合作單位為Tampa General Hospital Cancer Institute與City of Hope。這些研究正在積極收案中。

We are also engaged in discussions to grow this pipeline of ISTs, which will further expand our understanding of PEDMARK's potential. Importantly, these conversations are across multiple tumor types and across various patient populations.

我們也正就擴大此IST管線進行討論，以進一步深化我們對PEDMARK潛力的理解。重要的是，這些討論涵蓋多種腫瘤類型與不同患者族群。

One of the most encouraging takeaways from our presence at ASCO in June was the evolution of the conversation. Discussions are now moving beyond general awareness of cisplatin-induced hearing loss to implementation, with healthcare providers asking practical questions about incorporating PEDMARK into standard treatment workflows. We believe this reflects increasing clinical confidence and growing momentum toward broader adoption.

我們在6月出席ASCO最令人振奮的收穫之一，是對話內容的演進。討論已從對順鉑誘發性聽力損失的一般性認知，進一步轉向落地執行；醫療照護提供者開始提出實務問題，例如如何將PEDMARK納入標準治療流程。我們相信這反映出臨床信心提升，以及朝向更廣泛採用的動能正在增強。

In Q2, we nearly tripled our medical congress footprint at both national and regional conferences. At these meetings, gynecologic cancers were of particular interest and generated significant discussions and insights surrounding the market opportunity in this area. We heard from multiple leading academic gynecologists that there is limited PEDMARK awareness despite recognizing CIO, reinforcing our medical affairs strategy to expand structured education into gynecology alongside head and neck and testicular cancers. These specific tumor areas account for nearly half of our medical target base.

在第二季，我們在全國性與區域性會議上的醫學會議參與規模幾乎增加至三倍。在這些會議中，婦科癌症特別受到關注，並引發大量討論與洞見，凸顯此領域的市場機會。我們從多位頂尖學術婦科醫師處得知，儘管他們已認知CIO，但對PEDMARK的認識仍有限；這進一步支持我們的醫學事務策略：除頭頸癌與睪丸癌外，也將結構化教育擴展至婦科領域。這些特定腫瘤領域合計約占我們醫學目標客群的近一半。

Our field medical team plays a critical role in the education of physicians. The depth of our team's scientific knowledge and respected standing within the academic community are a true competitive advantage.

我們的外勤醫學團隊在醫師教育方面扮演關鍵角色。團隊深厚的科學知識，以及在學術社群中的受尊重地位，是我們真正的競爭優勢。

Our evidence generation strategy continues to gain momentum beyond ASCO. We are pleased to share that the investigator-initiated Phase 2/3 STS-J01 clinical trial evaluating PEDMARK for the reduction of CIO in pediatric and AYA patients with non-metastatic solid tumors in Japan has been selected for an oral presentation at the SIOP 2026 Annual Meeting in September. These data will mark the first public presentation of human pharmacokinetic data, representing an important milestone in deepening our understanding of the clinical profile and potential of PEDMARK to change the standard of care.

我們的證據產出策略在ASCO之外也持續加速推進。我們很高興分享：在日本進行、由研究者發起的第2/3期STS-J01臨床試驗（評估PEDMARK在日本非轉移性實體腫瘤之兒科與AYA患者中降低CIO的效果）已獲選於9月的SIOP 2026年會進行口頭報告。這些數據將是首次公開發表的人體藥物動力學數據，代表一項重要里程碑，有助於加深我們對PEDMARK臨床特徵的理解，以及其改變照護標準的潛力。

Oral presentations are reserved for research considered to be of particular scientific interest, and we believe this recognition reflects the growing clinical focus on preventing hearing loss in children receiving cisplatin-based chemotherapy. We look forward to sharing more details on the full results in September. Together with the data shared at ASCO earlier this year, these presentations continue to expand the scientific dialogue around hearing loss prevention and reinforce our commitment to supporting the generation of high-quality evidence.

口頭報告僅保留給被認為具有特別科學價值的研究；我們相信此項肯定反映出臨床界對於預防接受以順鉑為基礎化療之兒童聽力損失的關注日益提升。我們期待在9月分享完整結果的更多細節。結合今年稍早於ASCO分享的數據，這些發表持續擴大關於聽力損失預防的科學對話，並強化我們支持高品質證據生成的承諾。

And with that, I will now turn the call over to Terry for a commercial update.

接下來，我將把電話會議交給Terry，請他提供商業最新進展。

Thank you, Pierre, and good morning, everyone.

謝謝你，Pierre，各位早安。

Our newly expanded sales force is driving a positive impact in the first quarter. Commercial demand continued to grow in Q2, which is attributed to our disciplined execution and greater reach and frequency with prescribers, underscoring we have a repeatable and scalable platform for growth. For example, in the second quarter, we saw a 280% increase in the number of sales calls made by our field sales team.

我們新近擴編的銷售團隊在第一季正帶來正向影響。第二季商業需求持續成長，這歸因於我們有紀律的執行力，以及對處方醫師更廣的覆蓋與更高的拜訪頻率，凸顯我們擁有可重複且可擴展的成長平台。例如，在第二季，我們外勤銷售團隊的拜訪通話次數增加了280%。

Demand in Q2 grew double digits over Q1, driven primarily through our patient services hub called Fennec HEARS. In fact, Fennec HEARS saw a significant increase in patient enrollments that led to an all-time high number of infusions for the quarter.

第二季需求較第一季呈雙位數成長，主要由我們名為Fennec HEARS的病患服務中心所帶動。事實上，Fennec HEARS的病患註冊人數顯著增加，帶動本季輸注次數創下歷史新高。

Q2 also delivered record AYA enrollment supported by the NCCN 2A recommendation. Additionally, more than half of our business came from the home infusion setting. This flexible at-home scheduling option works for both patients and providers by making it easier to start therapy and to stay on therapy.

在NCCN 2A推薦的支持下，第二季也創下AYA註冊人數新高。此外，我們超過一半的業務來自居家輸注場景。這種具彈性的居家排程選項同時有利於病患與醫療提供者，讓啟動治療與持續治療都更容易。

Importantly, this record patient enrollment in Q2 has helped create real momentum with unprecedented demand carried into the third quarter. In fact, in the month of July, we recorded an all-time high of completed PEDMARK infusions, new patient enrollments, active patients on therapy, and new customers in a single month.

重要的是，第二季創紀錄的病患註冊量已協助形成實質動能，並將前所未有的需求延續到第三季。事實上，在7月單月，我們創下單月完成PEDMARK輸注次數、新病患註冊數、治療中的活躍病患數，以及新客戶數的歷史新高。

As we have discussed previously, continued commercial growth depends on strong alignment and execution across our organization. We are encouraged by how our expanded sales force has partnered with our market access and medical affairs teams to deliver a coordinated customer experience as we work to change the standard of care with PEDMARK.

如同我們先前所討論，持續的商業成長取決於全組織的高度一致與執行力。我們對擴編後的銷售團隊與市場准入及醫學事務團隊的合作方式感到鼓舞；在我們以PEDMARK推動改變照護標準的過程中，這種合作為客戶帶來一致且協調的體驗。

To give you an example of this teamwork in action, these groups recently collaborated to secure a major formulary addition with a nationally recognized community oncology network. By combining strong sales and account management with compelling clinical education, we successfully added PEDMARK to their formulary, which expands access and creates new opportunities for patients. This achievement demonstrates the strength of our integrated commercial model and our team's ability to drive meaningful results.

舉例來說，為了展現這種團隊合作的實際成效，這些團隊近期攜手合作，與一家全國知名的社區腫瘤網絡成功爭取到一項重要的處方集新增。透過結合強而有力的銷售與客戶管理，以及具說服力的臨床教育，我們成功將 PEDMARK 納入其處方集，進而擴大可近性並為病患創造新的機會。這項成果展現了我們整合式商業模式的優勢，以及團隊推動具意義成果的能力。

In summary, there are several positive trends that we're carrying into Q3, including overall vial demand, number of vials per patient, new patients entering the funnel, and infusions ordered and completed. We are optimistic that this commercial success will continue to reach record levels in the second half of 2026.

總結來說，我們帶入第三季的正向趨勢有好幾項，包括整體小瓶需求、每位病患使用的小瓶數、新進入漏斗的新病患數，以及已下單與已完成的輸注次數。我們樂觀預期，這項商業成功將在 2026 年下半年持續攀升至創紀錄水準。

With that, I will turn the call over to Robert for a financial update.

接下來，我將把電話會議交給 Robert 進行財務更新。

Thank you, Terry.

謝謝你，Terry。

Our press release contains details of our financial results for the second quarter of 2026, which can be viewed on the Investors and Media section of our website. As customary, rather than read through all of those details, my comments today will focus on some key financial results. Of note, a table reconciling non-GAAP measures was included in today's press release for reference and will be in our accompanying 10-Q filed with the SEC.

我們的新聞稿包含 2026 年第二季財務結果的詳細資訊，可於我們網站的投資人與媒體專區查閱。依慣例，我今天的評論不會逐一朗讀所有細節，而是聚焦於幾項關鍵財務結果。值得注意的是，今日新聞稿中已附上非 GAAP 指標的調節表供參考，並將收錄於我們向 SEC 提交的隨附 10-Q 中。

For the second quarter of 2026, the company recorded net product sales of $17.1 million compared to $9.7 million in the second quarter of 2025, representing an increase of approximately 78% year over year. We witnessed the highest amount of new patient enrollment in the second quarter and carry record demand for PEDMARK into the third quarter.

2026 年第二季，公司錄得淨產品銷售額 1,710 萬美元，較 2025 年第二季的 970 萬美元增加，年增約 78%。我們在第二季見到最高的新病患註冊量，並將 PEDMARK 的創紀錄需求帶入第三季。

On the OpEx side, which we define as R&D and SG&A excluding stock-based compensation, it was approximately $13.6 million for the quarter, with a year-over-year increase of approximately $3.6 million. The majority of the increase was on the SG&A with expanded marketing investment focused on awareness initiatives and increased commercial headcount supporting PEDMARK growth. Consistent with prior commentary for 2026, we expect approximately $50 million in total cash OpEx in 2026, with approximately $20 million to $22 million, or 40%, of those expenses left to be recorded in the second half of 2026.

在營業費用（OpEx）方面，我們將其定義為研發與銷售、一般及行政（SG&A）費用扣除股份基礎給付後的金額，本季約為 1,360 萬美元，年增約 360 萬美元。增幅主要來自 SG&A，原因是擴大行銷投資以聚焦於提升認知的各項倡議，以及增加支援 PEDMARK 成長的商業人力。與我們先前對 2026 年的說明一致，我們預期 2026 年全年現金 OpEx 約為 5,000 萬美元，其中約 2,000 萬至 2,200 萬美元（約 40%）將在 2026 年下半年入帳。

We are focused on EBITDA generation and cash flow as we grow the business and, as such, are presenting record non-GAAP adjusted EBITDA in the second quarter of approximately $2.8 million compared to a loss of $1.2 million in the comparable quarter a year ago. We have significant leverage in the business with a predominantly fixed cost base. And as our revenue growth continues, we anticipate operating income and non-GAAP adjusted EBITDA to grow meaningfully in the quarters to come.

隨著業務成長，我們聚焦於 EBITDA 產生與現金流，因此在第二季呈現創紀錄的非 GAAP 調整後 EBITDA，約為 280 萬美元，相較去年同期為虧損 120 萬美元。我們的業務具備顯著的營運槓桿，因為成本基礎以固定成本為主。隨著營收持續成長，我們預期未來幾季的營業利益與非 GAAP 調整後 EBITDA 將顯著提升。

EPS in the second quarter of '26 was $0.05 per share, compared to a loss of $0.11 per share in the comparable quarter.

2026 年第二季每股盈餘（EPS）為 0.05 美元，相較去年同期每股虧損 0.11 美元。

Cash and cash equivalents were $41.2 million as of June 30, 2026. For the quarter, there was a $1 million increase in cash and cash equivalents, which was higher than we anticipated for the quarter.

截至 2026 年 6 月 30 日，現金及約當現金為 4,120 萬美元。本季現金及約當現金增加 100 萬美元，高於我們對本季的預期。

As we have stated previously, as we grow the business, we anticipate select quarterly swings in cash position based on collection cycles with customers and, as such, expect the third quarter ending cash to be lower than the second quarter. However, we expect the fourth-quarter cash generation and our year-ending cash to be positive.

如同我們先前所述，隨著業務成長，我們預期現金部位在部分季度會因客戶收款週期而出現波動，因此預期第三季期末現金將低於第二季。然而，我們預期第四季將產生現金，且年末現金水位將為正。

Lastly, as we stated in our press release, we anticipate that our cash, cash equivalents, and investment securities as of June 30, 2026, coupled with the projected revenues from PEDMARK, will be sufficient to fund our business based on our current operating plan.

最後，如同我們在新聞稿中所述，我們預期截至 2026 年 6 月 30 日的現金、約當現金與投資證券，加上 PEDMARK 的預估營收，將足以依據我們目前的營運計畫支應公司營運資金需求。

Operator, with that, we are now ready to open the call for questions.

接線員，接下來我們準備開放提問。

(Operator Instructions) David Amsellem, Piper Sandler.

（接線員指示）David Amsellem，Piper Sandler。

Thanks. So just a few for me. First, regarding the testicular cancer population, can you talk to how much of your overall patient mix right now is coming from young men with testicular cancer? That's number one. Or maybe asking another way, what portion of your new starts on PEDMARK are in testicular cancer patients?

謝謝。我這邊有幾個問題。首先，關於睪丸癌族群，能否談談目前你們整體病患組合中，有多少比例來自罹患睪丸癌的年輕男性？這是第一個。或者換個方式問，你們 PEDMARK 的新啟用病患中，有多少比例是睪丸癌病患？

And then secondly, can you give us a sense of the mix between usage in academic centers versus community oncology practices? And how is that trending?

第二，能否讓我們了解一下在學術醫學中心與社區腫瘤診所之間的使用組合比例？這個趨勢如何？

And then lastly, I wanted to pick your brain on lifecycle management and what you think you can do or have been giving thought to ways to better improve the profile of PEDMARK. Thanks.

最後，我想請教你們對產品生命週期管理的看法，以及你們認為可以做些什麼、或已在思考哪些方式，來進一步改善 PEDMARK 的產品特性。謝謝。

Perfect. Thank you. This is Jeff. I'll take these, and then we'll kind of pass them through some of the folks here. So thanks for the question. I appreciate it.

很好。謝謝。我是 Jeff。我先回應這些問題，之後我們再請在座的幾位同事補充。謝謝你的提問。我很感謝。

Testicular cancer continues to be a driver for our business. It's the largest AYA tumor type that fits our PEDMARK profile. So those numbers for AYA, the size of the market is larger than the rest of the tumor types. Again, we're agnostic on tumor types, as you know, because we target cisplatin usage. And it doesn't matter what tumor type it is, it's still going to have the impact to the hearing.

睪丸癌仍然是我們業務的驅動因素。它是最符合我們 PEDMARK 產品定位的 AYA 腫瘤類型中規模最大的一類。因此就 AYA 而言，該市場規模大於其他腫瘤類型。如你所知，我們對腫瘤類型本身並不偏好，因為我們鎖定的是順鉑（cisplatin）的使用。不論是哪一種腫瘤類型，只要使用順鉑，都會對聽力造成影響。

So maybe I'll have Terry talk a little bit about the testicular market. He can kind of give a little bit more detail, and then I'll jump back to the academic and community setting. Go ahead, Terry.

所以也許我先請 Terry 談談睪丸癌市場。他可以提供更詳細的說明，接著我再回到學術與社區場域的問題。Terry，請。

Yeah, sure. And what we're seeing is roughly typical of what we had in Q1, however, slightly better in testicular cancer in Q2 with regard to that particular tumor type and PEDMARK utilization.

好的，當然。我們看到的情況大致與第一季相當，不過就該特定腫瘤類型與 PEDMARK 的使用而言，第二季在睪丸癌方面略有改善。

We've got over 80% of our business right now between testicular, cervical, and head and neck. And predominantly, it is testicular that's the larger driver of all of those. And it really does speak to our commercial execution, sticking on our targeted plan, our sales force calling on the right folks at the right time, and then collaborating with our colleagues in market access as well as medical that's really driving the business forward.

目前我們超過 80% 的業務來自睪丸癌、子宮頸癌，以及頭頸癌。其中以睪丸癌為三者中最大的驅動來源。這也確實反映了我們的商業執行力：堅持既定的目標計畫、銷售團隊在正確的時間拜訪正確的對象，並與市場准入以及醫學同仁協作，持續推動業務向前。

The next question was about academic versus community.

下一個問題是關於學術機構與社區端的比較。

You can take that. Go ahead, Terry.

你可以回答這題。Terry，請。

So we see a really nice balanced approach between both academic and community. I mentioned a formulary win in the community, but we also see really fantastic things happening in our academic setting as well. I wouldn't characterize it by one leading more than the other. Both are growing really nicely with the additional sales force that we have.

我們看到學術端與社區端之間呈現非常良好的均衡發展。我提到過在社區端贏得處方集納入，但我們也看到在學術場域同樣有非常出色的進展。我不會說哪一端明顯領先另一端。在我們新增的銷售團隊帶動下，兩邊都成長得很不錯。

Perfect. Thank you, Terry. And the last is the lifecycle management, your comment on that's a good one. And I might have Pierre touch on that a little bit, because I think what you're hearing from us from a lifecycle side is really coming from some of the ISTs that we put out there. There are a few areas where we think we can significantly grow the business, potentially even based on publications from these ISTs as the data comes in over the next few years.

很好。謝謝你，Terry。最後一題是關於生命週期管理，你的提問很不錯。我可能會請 Pierre 稍微談一下，因為我想你從我們這邊聽到的生命週期相關內容，主要是來自我們推動的一些 IST（研究者發起試驗）。我們認為有幾個領域可以顯著擴大業務規模，甚至可能隨著未來幾年這些 IST 的資料陸續出爐並發表而進一步推動成長。

So Pierre, maybe talk a little bit about some of those areas that you see from the ISTs.

所以 Pierre，也許請你談談你從這些 IST 中看到的一些領域。

Sure. So thank you for the question.

當然。謝謝你的提問。

The data generation is really leading to kind of a multi-pronged approach, if you will. So as patients are quickly accruing across the three existing ISTs -- so City of Hope, University of Arizona, and Tampa General Hospital -- we have an abundance of increased interest in additional ISTs. And importantly, these are across tumor types, across patient ages, and localized as well as metastatic disease.

資料的產出確實正在引導我們採取一種多管齊下的方法。隨著病患在現有三個 IST——City of Hope、亞利桑那大學，以及 Tampa General Hospital——快速累積，我們也看到對新增 IST 的興趣大幅提升。而且很重要的是，這些涵蓋不同腫瘤類型、不同年齡層病患，以及局部與轉移性疾病。

So as the data matures, we are certainly having discussions with the regulatory agencies to see is there opportunities for label expansion. Additionally, we are very keenly looking at NCCN guidelines and seeing opportunities for having increased guideline recommendations there as well.

因此，隨著資料逐步成熟，我們當然也正在與監管機構討論，看看是否有標籤擴增的機會。此外，我們也非常密切地關注 NCCN 指南，並尋找在其中獲得更多指南推薦的機會。

Great. Thank you.

很好。謝謝。

Chase Knickerbocker, Craig-Hallum.

Chase Knickerbocker，Craig-Hallum。

Good morning. Congrats on the results here, and thanks for taking the questions. Maybe just as far as how kind of that productivity of the new reps is trending, were they meaningful contributors to Q2 growth? Just trying to get a sense for what inning, how early are we in kind of their productivity ramp? Thanks.

早安。恭喜你們的成果，也謝謝願意回答問題。想請教一下，新進業務代表的生產力趨勢如何？他們對第二季的成長是否有顯著貢獻？我想了解一下他們的生產力爬坡目前進行到哪一局、也就是還在多早期的階段？謝謝。

Thanks for the question, Chase. I'll take a little bit of it, and then I'll give it to Terry. But you heard from some of my comments, we now are approaching close to 5,000 targets that we're calling on. It is having an impact. We're seeing patients in places in the country where we've never seen patients before. And as we even hinted a little bit on our Q3 numbers, our July continued that momentum that we're seeing.

謝謝你的問題，Chase。我先回答一部分，然後再交給 Terry。不過你也從我剛才的一些評論聽到，我們現在接觸的目標客戶已接近 5,000 個。這確實正在產生影響。我們在一些過去從未見過病患的地區，現在也開始看到病患。而且正如我們在第三季數字上稍微提到的，7 月延續了我們看到的這股動能。

So one of the things we said early on was give these guys a little time. Now, they've had a quarter under their belt, but they're going to continue to grow and get better at what they do. They need to understand where they're going. Multiple times we have to be in these offices, obviously, before we can move physicians. And so give them a little time. But what I would say is that the growth of what we're seeing, a lot is coming from our new reps.

我們一開始就說過，要給這些夥伴一些時間。現在他們已經有一個季度的經驗，但他們會持續成長，並在工作上越做越好。他們需要了解自己要去哪裡。顯然，在我們能夠影響醫師之前，必須多次拜訪這些診所。所以請給他們一些時間。但我想說的是，我們看到的成長中，有很大一部分來自我們的新進業務代表。

And maybe, Terry, you can comment on the success of what you're seeing.

也許，Terry，你可以談談你所看到的成功情況。

Yeah, there's no doubt about that. The new reps are adding to the success. And across the board, coast to coast, these are fantastic people, great humans to start with, but really good salespeople, and they're decorated before they got here.

是的，毫無疑問。新進業務代表正在為成功加分。而且從東岸到西岸，這些人都非常出色；先不說別的，他們都是很棒的人，但也確實是很優秀的業務，而且在加入我們之前就已經戰功彪炳。

And it's not really an accident looking across there for us that -- I had mentioned the cross-functional model, the collaboration that we have with our medical affairs team, as well as our key account team. It's in that collaboration where these guys are doing such a wonderful job. There's consistency, they're hustling every day, and it really resonates in seven straight quarters of growth.

而且對我們來說，放眼整體來看，這並非偶然——我提過跨職能模式，也就是我們與醫藥事務團隊以及關鍵客戶團隊之間的協作。正是在這種協作之下，這些夥伴才能做得如此出色。他們做事一致、每天都很拚，這也確實反映在連續七個季度的成長上。

So I'm super proud of these guys. They are on the curve though, keeping in mind -- Jeff mentioned this -- that they started in early March. And we've got one full quarter, and they're on the growth curve of their education and them getting around to see everybody.

所以我對他們感到非常自豪。不過也要記得——Jeff 也提到——他們是在 3 月初開始的。我們只有一個完整季度的數據，而他們仍在學習曲線上，持續接受訓練並逐步拜訪所有人。

Yeah. But I can tell you the seven straight quarters, and we mentioned July, and I think Terry commented on it, Chase, we recorded a new all-time high of completed PEDMARK infusions, a new all-time high of patient enrollments, and also an all-time high of active patients. And so you're seeing new customers, a record month in July, and we don't plan on slowing down.

是的。但我可以告訴你，連續七個季度的成長，再加上我們提到的 7 月——我想 Terry 也提到了——我們創下了完成 PEDMARK 輸注次數的歷史新高、病患入組數的歷史新高，以及活躍病患數的歷史新高。因此你看到的是新客戶、7 月創紀錄的一個月，而我們不打算放慢腳步。

So I hope that answers your question, Chase.

所以希望這回答了你的問題，Chase。

It does, Jeff. And maybe just to kind of piggyback on that comment a little bit, growth accelerated again sequentially in the second quarter. You just kind of talked about kind of record demand you're carrying into Q3. Seems like we've got meaningful potential utilization gain to still get from some of those newer reps.

有的，Jeff。另外想順著你剛才的評論再追問一下，第二季的成長率又較前一季加速。你也提到你們把創紀錄的需求帶進第三季。看起來我們仍可望從一些較新的業務代表那裡獲得顯著的使用量提升。

I mean, with all that together, should we be thinking about your business accelerating from a growth perspective sequentially? Maybe just give us a little bit more color as far as exactly kind of what you're seeing in July and how we should think about the back half of the year here as your business is clearly starting to help.

綜合這些因素，我們是否應該預期你們的業務在成長面會逐季加速？能否再多給我們一些細節，說明你們在 7 月具體看到什麼，以及我們應如何看待今年下半年——因為你們的業務顯然開始帶來助力。

Yeah. I'll comment, and then I'll let Robert jump in, Chase. But you know that we have said the back half of the year is where we'll see our growth, but we're showing growth in the first and second quarter. So yeah, your question is how fast and how big and where does this -- where do we see this going.

是的。我先評論一下，然後再請 Robert 補充，Chase。你知道我們一直說，下半年會是我們看到成長的時段，但我們在第一季和第二季就已經展現成長。所以是的，你的問題是：會有多快、多大，以及我們認為這會走向哪裡。

When we came out of the first quarter, April was a record month for us coming into the second quarter. Now, we're coming out of the second going into the third, and July is a record month for us. So we're continuing to see significant growth. I expect that to continue through this third quarter and into the fourth.

第一季結束後，4 月是我們進入第二季時的創紀錄月份。現在第二季結束進入第三季，7 月又是我們的創紀錄月份。所以我們持續看到顯著成長。我預期這會在第三季持續，並延續到第四季。

Maybe, Robert, you can comment from your side on some of the things that we share.

也許，Robert，你可以從你的角度補充一下我們分享的一些事項。

Yeah. Chase, just to echo really Jeff and Terry's comments, July was an outstanding month. Early on in August, obviously, we're August 11, that continues. And also in line with that, the productivity curve we expect to ramp up. So we're not going to get into details in terms of how much growth, but needless to say, we are quite pleased with where we stand today in the third quarter.

好的。Chase，我只是呼應 Jeff 和 Terry 的評論，7 月表現非常出色。8 月初——很明顯，我們現在是 8 月 11 日——這樣的趨勢仍在延續。同時，我們也預期生產力曲線會持續爬升。因此我們不會就成長幅度提供細節，但可以說，我們對目前第三季的進展相當滿意。

Very helpful, guys. Thank you.

非常有幫助，各位。謝謝。

Raghuram Selvaraju, H.C. Wainwright & Co.

Raghuram Selvaraju，H.C. Wainwright & Co.。

Thanks so much for taking my questions, and congratulations on a very solid quarter. Firstly, I wanted to ask about what your outlook is with regard to the timeline with which you might be in a position to provide us with a revenue guidance range, if not for this year, then potentially for 2027.

非常感謝讓我提問，也恭喜你們交出非常穩健的一季。首先，我想請教你們對於何時可能提供營收指引區間的時間表有何展望；如果不是今年，那是否可能是 2027 年。

Secondly, I was wondering if you could provide us with any granularity on when you anticipate a potential shift in NCCN guideline category classification for PEDMARK based on the available evidence. I was also wondering if you could tell us a little bit about ways, potential techniques, strategies to ensure that enrollment pace in the various ISTs, both the ones that are currently enrolling and the ones that you expect to come online, would proceed at a reasonable, if not accelerated, pace.

第二，我想請你們提供一些更細的資訊：基於目前可得的證據，你們預期 PEDMARK 在 NCCN 指南中的分類等級何時可能出現變動。我也想了解，你們有哪些方式、可能的技術或策略，來確保各個 IST（包含目前正在收案的，以及你們預期即將啟動的）收案速度能以合理、甚至加速的步調推進。

And then lastly, if you could just give us an update on potential launch preparations, commercial assessments in preparation for the introduction of PEDMARK in Japan, and how you are thinking about partnership strategy over there, that would be very helpful. Thank you.

最後，如果你們能就 PEDMARK 在日本導入前的潛在上市準備與商業評估提供最新進度，以及你們如何思考當地的合作夥伴策略，將會非常有幫助。謝謝。

Sure. Great questions. Thank you. I'll start, and I'll hand over to Robert real quick.

好的。很好的問題。謝謝。我先開始，然後很快把話交給 Robert。

I know we have said time and again that we don't provide formal revenue guidance. We haven't for this year. That being said, we're encouraged by what we're seeing and the trends we're seeing. And can we go into '27 with the opportunity to be able to give guidance for 2027? That's something Robert and I are talking about.

我知道我們一再表示，我們不提供正式的營收指引。今年我們也沒有提供。話雖如此，我們對目前看到的情況以及我們看到的趨勢感到鼓舞。而我們是否能在進入 2027 年時，有機會能夠提供 2027 年的指引？這是 Robert 和我正在討論的事情。

And as you grow a company this rapidly like we were doing and make as many changes as we are, we didn't want to -- the worst thing you can do is miss guidance. And so that being said, we'll be in touch with where we go from there on guidance for 2027.

而當你像我們這樣以如此快的速度擴張公司、並進行我們正在做的這麼多變革時，我們不想——你能做的最糟糕的事情就是未達指引。因此，在此情況下，我們會就 2027 年指引接下來的方向與大家保持溝通。

If you look for our IST updates and where we are, in your question on that, maybe I'll let Pierre speak a little bit more towards that question on the ISTs because I know you were talking about enrollment and some of the numbers. And again, we're not publicly tracking those numbers out, but we can talk a little bit about I think the momentum that we're seeing.

如果你關注我們的 IST 更新以及我們目前的進展，針對你在這方面的問題，也許我讓 Pierre 就 IST 的問題多談一些，因為我知道你提到了入組以及一些數字。同樣地，我們不會公開追蹤並披露那些數字，但我們可以談談我認為我們所看到的一些動能。

Sure. So obviously, we need to be very careful that we as a company don't interfere with IST accruals for compliance reasons. That said, we have helped each institution drive awareness within their own circuits, if you will, allowing all the other physicians to know that the ISTs are open and actively accruing. So we are very encouraged by the early numbers that we're seeing. And so yeah, I'll stop there on that in terms of IST accruals.

當然。很明顯，出於合規原因，我們作為公司必須非常小心，不能干預 IST 的入組累積。話雖如此，我們已協助各機構在其自身的網絡中提升認知，讓其他醫師知道 IST 已開放並正在積極入組。因此，我們對目前看到的早期數據感到非常鼓舞。所以，關於 IST 入組累積我就先說到這裡。

In terms of the question for NCCN, we have a very focused strategy as to when this data will finally mature. So we could take it to different NCCN boards, including head and neck, gyn-onc, as well as testicular. But it really is a function of getting the data.

至於 NCCN 的問題，我們有一個非常聚焦的策略，會在這些數據最終成熟時採取行動。因此，我們可以把它提交給不同的 NCCN 委員會，包括頭頸癌、婦科腫瘤，以及睪丸癌。但這確實取決於數據的取得。

Data first and then move. The other is Japan, and one of the things you had asked about kind of where's the status and where do we look like with the partnering and licensing opportunities in Japan.

先有數據，然後再推進。另一個是日本，以及你問到的其中一點：在日本的合作與授權機會方面，目前的狀態如何、我們看起來怎麼樣。

We're encouraged by the discussions that we've been having. As you heard from Pierre, the data is now getting picked up at multiple meetings, not just ASCO, but now SIOP. So we're excited about the STS-J01 data and what a potential opportunity it represents.

我們對目前正在進行的討論感到鼓舞。正如你從 Pierre 那裡聽到的，這些數據現在在多個會議上被採用，不僅是 ASCO，現在也包括 SIOP。因此，我們對 STS-J01 數據以及它所代表的潛在機會感到興奮。

We're engaged with, like I said, a number of folks in Japan on the ground. As a matter of fact, Pierre and I will be there next week meeting with our team in Hiroshima as well as meeting with potential partners and partners that we've been in discussions with for a while. Our focus really is we want to have the right path forward for the product there and not just for Japan but for Asia-Pac.

正如我所說，我們正與日本當地的多方人士保持接觸。事實上，Pierre 和我下週會去那裡，與我們在廣島的團隊會面，也會與潛在合作夥伴以及我們已討論一段時間的合作夥伴會面。我們的重點確實是希望為該產品在當地找到正確的推進路徑，不僅是日本，也包括亞太地區。

So we're taking our time, but we want to do this right, and we want to maximize the long-term value for that region for this product. But most importantly also, we want to get this product approved in Japan as fast as we can. So I hope that answers your question.

所以我們會花時間，但我們希望把事情做對，並希望為該地區這個產品最大化其長期價值。但同樣最重要的是，我們也希望盡可能快地讓這個產品在日本獲批。希望這回答了你的問題。

Yes, it does. Thank you so much. And one last quick one. Jeff, I know I've asked this a couple of times in the past, and I was just wondering if there's been any evolution in your strategic thinking regarding the possibility of in-licensing anything that might be complementary to PEDMARK for your sales force to sink their teeth into, given the fact that you've now built up a very good head of steam with that product. Are you thinking about potentially other opportunities, commercially speaking, within oncology supportive care?

是的，有回答到。非常感謝。最後再快速問一個。Jeff，我過去問過幾次，我只是想知道，你在策略思考上是否有任何演進：考慮引進授權（in-licensing）一些可能與 PEDMARK 互補的產品，讓你們的銷售團隊可以更有著力點，畢竟你們現在已經把這個產品的動能建立得很不錯。就商業面而言，你們是否在腫瘤支持性照護領域考慮其他機會？

We are, and we've talked about this in the past. And now that the team is really starting to perform and execute the way they are, you can imagine that there's an opportunity to be able to put something else in their bag, so to speak.

我們有在考慮，而且我們過去也談過。而現在團隊確實開始以目前這樣的方式表現並落地執行，你可以想像，確實有機會可以讓他們的包裡再多放一些東西，這麼說吧。

So we're looking at it. We get opportunities coming across our desks. All of us here that you've heard on the call all are helping evaluate these opportunities. So yeah, we continue to do that. We haven't seen anything just yet, but we're open to those discussions, as you know.

所以我們正在看。我們桌上也會收到各種機會。你在電話會議上聽到的我們所有人，都在協助評估這些機會。所以，是的，我們會持續做這件事。目前還沒有看到任何合適的標的，但如你所知，我們對這些討論持開放態度。

Thank you.

謝謝。

Thank you. I'm showing no further questions at this time. I'll now turn it back to Jeff Hackman for closing remarks.

謝謝。我這邊顯示目前沒有其他問題。現在我把時間交回給 Jeff Hackman 做結語。

Perfect. Thank you. So thank you all for joining the call today and especially the questions and your participation here at the end. Thank you.

很好。謝謝。所以感謝各位今天加入電話會議，尤其感謝最後的提問以及你們的參與。謝謝。

In summary, as you know, we execute an incredible set of priorities here at the organization. They reinforce our long-term growth, they advance the clinical evidence and they drive commercial performance, and we maintain a strong financial position as we continue all of these initiatives. Combined with the encouraging trends that we're seeing early in the third quarter, we believe we are well positioned to continue to sustain our growth and momentum throughout the remainder of the year.

總結來說，如各位所知，我們在組織內執行一系列極為重要的優先事項。這些事項強化我們的長期成長、推進臨床證據並帶動商業表現，同時在持續推動所有這些計畫的過程中，我們也維持強勁的財務狀況。再加上我們在第三季初期看到的令人鼓舞的趨勢，我們相信我們已處於有利位置，能在今年剩餘期間持續維持成長與動能。

I want to thank you all for joining the call today, and this is the end of Fennec's second-quarter call.

我要感謝各位今天加入電話會議，這也就是 Fennec 第二季電話會議的結束。

Thank you for your participation in today's conference. This concludes the program. You may now disconnect.

感謝各位參與今天的會議。本節目到此結束。您現在可以斷線。