Good morning, everyone, and thank you for joining us today. With me on the call are Craig Stuart Millian, Chief Executive Officer John Hanna, Chief Financial Officer and Brian T.

Walsh, Chief Operating Officer. Earlier this morning, we issued a news release announcing our financial results for the 3 and 6 months ended 06/30/2026.

This news release, along with our MD&A and financial statements, is available on our website and on SEDAR+. Please note that slides accompanying today's call can be viewed via the webcast, a link to which is available in our earnings press release and on our website on the events page.

Certain matters discussed in today's conference call or answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated.

Risk factors that could affect results are detailed in the company's annual information form. Which has been filed on SEDAR+ During the call, we will refer to adjusted EBITDA, Adjusted EBITDA does not have any standardized meaning prescribed by IFRS.

Adjusted EBITDA is defined in our press release and annual filings that are available on SEDAR+ and on our website. Please note that all financial information provided is in US dollars unless otherwise specified.

Would now like to turn the meeting over to Mr. Millian.

Please go ahead.

Thanks, Dave. Good morning, everyone, and thank you for joining us today.

On our call today, I will take you through our second quarter performance along with a corporate update. Brian will then follow with a closer look at each of our products.

John will cover the financials in detail. And then I will be back with a few closing thoughts before we open it up for questions.

Starting with the big picture. The story of this quarter is the acceleration of our cardiovascular growth engine.

Our cardiovascular portfolio delivered second quarter net sales growth of 25% year over year. Driven by double digit Vascepa growth along with a strong first quarter of sales for newly launched Nilemdo.

At the same time, our Clozaril patient base in Canada has grown sequentially for 5 consecutive months, including July. This is a positive sign that business is stabilizing.

HLS is consistently generating cash, and with the strongest balance sheet in many years, we can invest in growing the company while also returning capital to shareholders. Now let's briefly review the second quarter financial highlights.

Starting with the top line, Revenue in Q2 was $14.7 million up 3.5% year over year. The cardiovascular portfolio led the way with a 25% increase in net sales both local and reporting currency.

Vascepa net sales grew 18%, which was a slight improvement over the strong growth we had in the first quarter And Nilemdo, in its first full quarter on the market, generated over $300 thousand in net sales. This is slightly ahead of our forecast, and particularly encouraging in that meaningful private payer coverage only started to take effect late in the quarter.

In addition, as we announced last week, Nilemdo has now secured reimbursement with the largest private payers in Canada, and achieved the unanimous recommendation for public reimbursement from Canada's drug agency. Brian will take you through greater detail on the Nilemdo launch in the near term catalysts on the horizon.

Turning to Clozaril, In Canada, the trend we highlighted last quarter continued, with consistent monthly gains in the base of patients on branded Clozaril. Net sales were down just 1% versus the second quarter of last year.

In both local and reporting currency, a further positive sign that the business is stabilizing. In The US, Q2 Clozaril net sales were down versus the prior year, and are down about $600 thousand year to date.

This is in part due to a slight decrease in demand, but also reflected a challenging year over year comparison as the second quarter of last year accounted for 28% of full year U.S. Clozaril sales.

We expect a relatively flat year over year sales comparison for U.S. Clozaril for the second half of 26.

Adjusted EBITDA for the quarter was $4.7 million about 10% less than prior year similar to the Q1 decline and in line with our expectations related to incremental first half launch investment in Nilemdo. As we are now seeing the expected uptick in revenue growth, driven by the Nilemdo launch, we expect margin expansion for our cardiovascular portfolio in the coming quarters.

Even with the incremental investment to launch Nilemdo, with only 1 full quarter of sales, the direct brand contribution from our cardiovascular portfolio is breakeven for the year. And that brings me to capital allocation.

Over the past couple years, we set out with HLS on a stronger financial footing. And that work is largely done.

We have successfully delevered the balance sheet, reduced our interest costs, and built a business that is now consistently generating significant cash flow. Cash from operations is up 14% year to date which reflects the operational improvements made over the past 2 years.

With that foundation in place, our capital priorities have shifted responsibly investing in new growth opportunities and returning capital to shareholders. In June, we launched a normal course issuer bid.

up to 1.5 million shares and have been active buyers since. And on the growth side, we continue to pursue business development opportunities that are consistent with our strategic focus, organizational capabilities, and financial resources.

HLS is highly regarded as a potential partner in Canada based on our capabilities and customer relationships in specialty therapeutic areas. Our intent is to bring in assets at a reasonable cost that can meaningfully grow the top line or accretive in the near term and allow us to more fully leverage the infrastructure we have built in Canadian specialty markets.

With our balance sheet in great shape, we will remain disciplined in our approach with the capacity to act when attractive opportunities present themselves. Moving to guidance.

We are reaffirming our 2026 outlook. Revenue of $56 million to $60 million and adjusted EBITDA of $18.5 million to $21 million Consistent with the quarterly gating we outlined last quarter, we expect year over year adjusted EBITDA comps to improve in the second half of the year as the cardiovascular portfolio revenue continues to ramp.

With that, let me hand things over to Brian And before I do, you may have noticed in Dave's introduction that Brian is now our Chief Operating Officer. Brian has been an impactful leader since joining HLS 3 years ago as chief commercial officer.

In his expanded role, Brian will continue to lead our commercial organization and will also oversee our field medical and patient support functions. Creating even stronger alignment at the field and customer level.

Brian, over to you.

Thanks, Craig. Good morning, everyone.

I will take you through the portfolio this morning, starting with our cardiovascular growth drivers, Vascepa and Nilemdo, and Clozaril in Canada and the US. Starting with Vascepa, net sales grew 18% in Q2 year over year, and units grew 16%.

Year to date, net sales grew 14% and units grew 17%. that is our second consecutive quarter of double digit growth reflecting the changes we made to the cardiovascular sales team in 2025.

Prescriber breadth and depth both continue to track positively, meaning we are expanding the writer base, not just deepening it. And payer mix remains stable, supporting brand profitability.

With patent protection through the late 2030s, Vascepa remains a durable growth driver in its seventh year on the market. And will become an increasingly meaningful contributor to margin going forward.

Now to Nilemdo. Completed its first full quarter on the market.

Net sales were ahead of forecast with wholesaler reorders continuing and the weekly ex factory run rate strengthening as the quarter progressed. I shared previously the enthusiasm that prescribers across Canada have shown for Nilemdo.

Many reported having created lists of their patients that they pre identified for this therapy. In Q2, we witnessed this excitement translate to action, where at the end of Q2, prescribers had started nearly 1.2 thousand new patients on the LEMDO as measured by new to brand Rx or NBRx.

For comparison, this is about 3.5x greater than where Vascepa was at the same point in its launch. What makes these early results especially encouraging is that most of the quarter was ahead of the full private coverage Now coming into effect in Q3.

On that front, private payer access is running ahead of our plan. As we announced on August 5, we have now secured reimbursement with the largest private payers in Canada, representing approximately 80% of privately insured Canadians.

The vast majority of these patients can now access Nolemdoo as a full benefit without restrictions. Several of these agreements are already in effect, with the remainder taking effect during the quarter.

On the public side, also announced, Canada's drug agency has finalized its reimbursement recommendation from Nilemdo with its expert committee voting unanimously to recommend reimbursement by participating public drug plans. This opens the window for us to begin negotiations with the Pan Canadian Pharmaceutical Alliance for a product list We intend to commence these negotiations later this year keeping us on track for initial provincial listings in the first half of 27.

And on NEXLIZET, the fixed dose combination, we remain on track for a Health Canada decision by year end with launch to follow in the first half of 27. As we have described, Nilemdo is a differentiated new entity.

Bempedoic acid. And it establishes the foundation.

Once approved, NEXLIZET, which combines bempedoic acid with a commonly used lipid lowering drug, ezetimibe, will bring the combined benefits of both medicines to patients in 1 daily pill. NEXLIZET potentially gives us another important growth catalyst within 12 months.

Turning now to Clozaril in Canada. Our national patient base has now grown for 5 consecutive months through July.

And that growth is broad based. Ontario posted sequential gains in each of those months And in Western Canada, we saw double digit patient growth in British Columbia, versus last year.

And growth rates accelerating in both Alberta and Saskatchewan. The fundamentals are intact.

The brand continues to hold about a 50% market share, and Clozaril remains a strong, stable cash contributor. For Clozaril in the U.S., as Craig noted, the year over year decline primarily reflects a comparably large Q2 last year.

The timing of the July 4 holiday last year pulled some ordering into June. Contributing to the outsized comparable.

This remains a high margin cash generating business and we continue to look for ways to maintain patient volumes and expand the specialty pharmacy program. With that, I will turn it over to John for a detailed look at our financials.

John?

Thank you, Brian, and good morning, everyone. In my section, I will review Q2 results, the balance sheet, and our capital allocation priorities.

My comments are all in U. S.

Dollars, as per our reported numbers, unless otherwise noted. Starting with revenue, Total revenue for Q2 was 14.7 million up 3.5% from Q2 last year, and up 2.8% year to date.

The increase was driven by our CV portfolio, which as Craig mentioned, grew 25% in Q2 in local currency. Reflecting continued growth in Vascepa, and the first full quarter of net sales from Nilemdo.

Clozaril net sales in Canada were down just 1% in local currency, versus Q2 last year. A significant improvement from Q1 comparables.

Clozaril net sales in The US were $3 million compared to $3.5 million in Q2 last year, and were impacted by the factors discussed by Craig and Brian earlier. Finally, royalty revenue was $205 thousand in Q2, compared to $148 thousand in Q2 last year.

Cost of sales in Q2 was up 14% compared to Q2 last year and up 13% year to date. With the increases due to demand growth in Vascepa, and initial sales of Nilemdo.

On the expense side, Q2 operating expenses comprising sales and marketing, medical, regulatory and patient support, as well as G&A. Were $7.2 million up 10% compared to Q2 last year.

Year to date, operating expenses were up 8%, The increases reflect our investment in Nilemdo launch. Q2 adjusted EBITDA was $4.7 million compared to $5.2 million in Q2 last year.

Adjusted EBITDA was impacted by the Nilemdo launch investment as just described. As we have discussed, we expect margins to improve for the second half of the year as Nilemdo revenue ramps.

There is generally seasonal variation by quarter in adjusted EBITDA. As those of you on the webcast can see on this slide.

We expect a similar pattern in 2026, with a first half dip followed by improving adjusted EBITDA in the second half. Looking past the quarterly variation, since 2024, adjusted EBITDA margin excluding royalty revenue, on a trailing 12 month basis, has increased from 20% to 32%.

This reflects the operational improvements we have made as well as growth in our CV portfolio. For Q2, the direct brand contribution from Clozaril adjusted EBITDA $6.7 million For the year to date period, the Direct Brand contribution $12.4 million Turning to the cardiovascular portfolio, even with additional launch expenses, the direct brand contribution was breakeven in both the Q2 and year to date periods.

Cash from operations in Q2 was $2.9 million compared to $4.6 million in Q2 last year, while year to date cash from operations $9.3 million compared to 8.1 million up 14%. The year to date increase reflects the operational improvements made over the last 2 years, along with significantly lower interest expense.

Interest $1.3 million year to date compared $3.1 million in the same period last year. The result of our 2025 credit agreement and a lower debt balance overall.

This next slide highlights our cash generation. We can start by taking adjusted EBITDA as a useful proxy for cash flow over time, From that, we first deduct royalty revenue, which is not core to our ongoing business.

And then deduct net interest paid. What is left shown in the bars, is a view of the capital we have available to allocate on a trailing 12 month basis.

Excluding royalty matters here, because at the start of this period, royalties were contributing more than $9 million a year to adjusted EBITDA. The dotted line shows trailing 12 month interest paid over the same period.

2 things are happening at once. Our net interest paid has fallen from as high $8.8 million in 2024 $3.2 million reflecting the debt we have repaid and the improved terms of our 2025 credit agreement.

At the same time, we stripped out considerable sales and marketing expense while still growing the underlying business. Put that all together and what the core big business generates after servicing interest on our debt, has grown $2.3 million at the beginning of 24 $14.7 million at the end of Q2 this year.

That combination is funding the capital priorities I will turn to next. As Craig outlined, with the balance sheet work largely complete, our capital allocation priorities have shifted.

Let me take each in turn. First, investing in growth.

We have the flexibility to pursue business development opportunities that meet the goals Craig outlined earlier. And we are well positioned to act when the right opportunity presents itself.

Second, returning capital to shareholders. In June, we launched a normal course issuer bid allowing us to purchase up to 1.5 million common shares.

And we have been active purchasers under the bid since inception. Through to July 31 we have repurchased approximately 340 thousand shares $1.4 million Canadian to shareholders.

We believe our shares represent compelling value at current prices and the NCIB provides a flexible vehicle for returning capital as our cash flow allows. Third, on debt, the heavy lifting of delevering is behind us.

In Q2, we made a principal repayment of $1.1 million At 06/30/2026, the principal balance on our term loan $42.2 million. Down 16% from the end of 25.

And net debt stood $28.5 million down 26% from the end of 25. Taken together, our leverage ratio has declined significantly over the past 2 years, This is the strongest balance sheet position we have been in for years.

And it what is what gives us flexibility Craig described. Going forward, debt will continue to decline through scheduled amortization, with any additional payments made at our discretion.

Finally, looking at balance sheet, cash was $13.7 million at quarter end. Up $11.7 million at the end of 25.

I would note that provisions rose to £14.6 million at the end of Q2 As a reminder, 1 of our largest provincial rebate settles only once a year typically in Q3 so we see a cyclical trend whereby provisions rise for 3 quarters and then drop back. When the annual rebate is settled.

In summary, the business is generating cash to fund both of our capital priorities simultaneously while debt continues to decline through scheduled prepayments. We are well positioned to act on the right business development opportunities as they arise, And with that, I will pass it back to Craig for his closing comments.

Thanks, John. Before we open it up to Q&A, 3 quick thoughts on the quarter and where we are headed.

First, HLS is a fundamentally stronger company than at any time in my tenure. The delevering work we set out to do is largely accomplished.

We have our strongest balance sheet in years, and with consistent cash generation, we have begun returning capital to shareholders through a buyback. Second, the growth engine is starting to deliver.

The cardiovascular portfolio grew approximately 25% this quarter, Vascepa is sustaining double digit growth Nilemdo is ahead of plan with payer coverage expanding. And in Canada, the Clozaril patient base is growing once again.

And third, several catalysts are ahead of us. Private coverage for Nilemdo continues to ramp.

With a favorable CDA recommendation, we will begin to pursue public reimbursement and NEXLIZET remains on track for a Health Canada decision by year end followed by a first half 27 launch. In addition, we have the resources to act on business development that fit our criteria.

Our goal is to build scale in the coming years, organically and through disciplined business development. This will increase operating leverage, broaden reach with our customers, and create greater value for shareholders.

That concludes my prepared remarks, and we look forward to keeping you updated on our progress. At this point, I will ask our operator to please provide instructions asking a question.

Thank you.

Hey, good morning, Craig, John, Brian and congratulations Brian, on your on your new role. My first question here is on Vascepa.

It I am really encouraged to see this return to growth. I wonder if you could describe any of the ingredients involved in this and perhaps the contribution of, you know, sales inquiries into docs for the purpose of advertising or showing them in the lendo.

While also having Vascepa in the bag.

Thanks, Mike, for the question.

Brian, you want Good morning. Thank you.

Yeah. Great question.

I think, you know, credit to the team. Lot of enthusiasm behind the Nilemdo launch, but remaining focused on you know, both products in the franchise.

1 of our hypotheses with expanding the franchise was it creates more time in front of our customers, and we are seeing that I am seeing it firsthand, and our managers are reporting that back that creating more absolute time for Vascepa in their interactions with customers. They will they will love those story as a very clear value proposition and they can move through that in their details and create an opportunity to you know, extend on the benefits of Vascepa for cardiovascular re you know, reduction.

We have talked in the past about how these are really synergistic in that way and that we are talking largely to the same customers about you know, a similar segment of patients in their in their practice. So to the team, we are seeing that strengthening in Q2 and you know, optimistically continues to the to the rest of the year moving forward.

Yeah. And just maybe to add 1 additional point, I would say, you know, we done a lot of work over the last couple of years also kinda re rebuilding the commercial organization.

We have had some yes, departures and some restructuring of past couple years, and I think you know, the strength of our portfolio and bringing in new assets has really made, I think, HLS a desired destination for a lot of really strong talent. So we have been able to recruit both at the sales rep level, at the manager level, really experienced talented, professionals with extensive experience and relationships in cardiovascular So I think the team is as strong as it is ever been right now.

Right. Alright.

Thanks very much for that. Now on the looking at the guidance, it looks like there is an implied acceleration in second half EBITDA.

I wonder if you could you could help, build the bridge from here to there, talk about the growth the growth drivers of that. Yeah, of the of that second half strength.

Sure. Yeah.

I will start, and then maybe, John, if, if I miss anything, maybe you can weigh in. I think obviously, we just had our first full quarter of Nilemdo in Q2, and we expect as Brian said, we are really encouraged by the week over week growth in ex factory sales.

And now with private payer coverage in many respects just hitting at the end of Q2 or into Q3, we have no reason to expect that acceleration not to continue. So I think if generally, we are we are holding the line on the side, and we expect to see some nice growth in continued growth and accelerated growth, quite frankly, on the cardiovascular side driven in large part by the Nilemdo ramp We expect to continue to see the growth in Vascepa that we have seen in the first half of the year.

And we are really encouraged, Michael, by the sequential growth in patients on the Clozaril side, which suggests that and as we predicted, as the year goes by, we will see increasing stabilization on the on the Clozaril side as well. So I think you know, essentially managing our cost responsibly, which is what we, I think, have a have a pretty good track record of doing.

And now starting to see that ramp in, in the top line We think we will deliver improved margins in the back half of the year. John, I do not know if there is anything to add there.

No. I think that is right.

And in the back half of the year as compared to the first February, you know, there will be, you know, a small decrease in the OpEx as compared to second half to the first half. But primarily driven by what Craig had already outlined.

Okay. Alright.

Thank you very much. Congrats on the quarter.

I am going to pass it on. Thanks, Michael.

Good morning, everyone. This is Max on for Justin.

Nice quarter. Just the first question, on Clozaril.

I understand CSAN is historically been a pretty important tool in defending market share from generics. Can you maybe qualify what dynamics you are seeing more recently at the prescriber level as it relates to CSAN?

Yeah. Hi, Max.

Good morning. This is Brian T.

Walsh. Thanks for the question.

Yes. We are seeing as you said, CSAN is an important differentiator for the Canadian business.

Health Canada mandate registry. Where we have seen across the country, the differentiation play out, We have described previously some disruptions in Ontario, more from GPO contracts, but as a result of the services we provide that provides Pronto devices integrated as part of that program.

We have seen large numbers of patients move to pharmacies where they can get branded Clozaril, move to different ways to stay on the brand, and that is driven by the support that community physicians have for brand over generic because of the services and the device. Likewise, in a lot of the growth in the West, is driven by market share gains within the cost of teams.

So taking share from generics largely because of because of that service.

You know, we have we have we have had, you know, Smaller account convert whole account conversions in the West in Q2. Which sets up know, encouraging for the rest of the year as well.

And those are driven by you know, the efforts of our team and the services that we provide on behalf of patients, again, with the devices important part of that. And we find patients are incredibly sticky.

You know, unless they are forced to switch, which typically they are not, except in rare cases. You know, for example, in Quebec, we have we have had a really strong retention rate, and that part of that is based on the resources we brought to bear.

In our customer facing model, or go to market model. Which provides a high level of support.

As well as, you know, the preference for the Pronto device in many cases. As well as the again, the high touch that CSAN provides.

So, you know, we think the suite of services that we provide around branded Clozaril, you know, has enabled us to maintain a very stable market share over extended period of time and, you know, certainly allowed us to weather you know, some of these temporary disruptions that happen from time to time.

that is great. Thank you.

Switching gears, could you maybe describe the current status of payer mix for Vascepa? And what growth you have seen in the public channel sales versus the last few quarters?

John, do you want to take that question?

Yeah, I would say the public share as we exited the last couple of quarters of 2025 was, sort of in the just shade over 50% range. And as we have progressed and seen some growth in 2026, we are moving up towards the 55% range and probably through the year we will stay in that high end of the 50% to 55% range.

Yeah. I would add that the rate of growth on the public side relative to private has slowed considerably.

We are seeing much greater stability in terms of payer mix in those provinces where we have been on public listings for a longer period of time. For example, Ontario and Quebec, have become quite stable, which is good.

For us to be able to really kinda predict our gross to net. Where we have seen some continued expansion on the public side, which is as we expected, is provinces where we were more recently listed Those being British Columbia and Alberta, where I think we have only been on listings for the last couple of years.

So, the good news is, you know, we are now, as predicted, starting to see that stabilization. I think we had a expected to flatten out at about 50.

I think, as John said, we are probably a shade beyond that, but still, you know, still within range.

Great. Thank you.

And just 1 last question. Dollars 13 million almost $14 million in cash at the end of the quarter.

As I understand it, somewhere in the range of $30 million in revolver capacity. So the balance sheet's been meaningfully improved So well done on that front.

Are you as you focus on Nilemdo launch, do you anticipate maybe a reduced focus on business development and as a follow-up to that, with the investments you have recently made on Nilemdo, how would you expect the commercial infrastructure to need to look like with the addition of presumable additional products within cardiovascular?

Yeah. that is a good question.

So I think our focus, first of all, is executing with our core assets. No question.

So that is job 1. In parallel, we think we have the capacity to continue to be you know, disciplined and thoughtful in terms how we approach business development.

So we are we are looking at We continue to screen assets very actively. And look at a lot of stuff, and they have to meet our criteria of what is sensible, you know, for us to add it at the stage of our evolution.

And we think there are attractive assets out there. I think you know, good example is the deal we did for with Esperion on the bempedoic acid you know, assets.

Wherever possible, we strive to leverage the infrastructure we built in Canada both on the cardiovascular side and on the neuropsych side, and I think even more broadly, the capabilities we have, for example, in patient support services, which in many ways are you know, transferable across, you know, multiple, you know, high touch therapeutic areas. So we think we have got capacity.

I think a case by case basis, we will evaluate the return on investment of a of an expansion of infrastructure. So, certainly, there may come a time where for example, in cardiovascular, if we wanted to move into different facets of cardiovascular, we might we might look to expand.

But rest assured, you know, it will be well thought through and you know, in a disciplined way, with a with an opportunity to very, you know, quickly generate a positive return.

Wonderful. Thanks so much, guys.

Good morning. When Vascepa was first launched, if I recall correctly, a material proportion of doctors waited to prescribe the drug until there was coverage for all patients.

So in other words, there are privately insured patients They did not prescribe for them until public, reimbursement was in place. Do you expect the same with, Nilemdo?

Hi, Dave. Good morning.

This is Brian. it is it is not an either or.

Obviously, with public reimbursement, it just creates a wide open access picture. It makes it much easier for physicians to prescribe.

I would not say physicians intentionally wait, but it becomes just more nuanced for them to find those color patients those private patients in their practice. You know, that is the work that our teams do with them to help identify the support we provide to our assistance program.

But no question. You know?

Now we have a message of very broad private access so physicians can identify at that level, and there is really not a lot of nuance beyond the surface for us on the private side where we are landed with pretty broad coverage and limited and no restrictions, essentially. So we are excited for that catalyst.

We see it going into Q3. To as Craig mentioned.

But as we go into next year, we, you know, expect to achieve public listings, and that will certainly make those conversations and prescribing even easier for physicians and lift both sides at that point.

Yeah. And I think, you know, the launching Nilemdo into this market, I think in a sense, there was almost more pent up demand because this truly fits a an unmet need that exists within a very prevalent existing paradigm as it relates to you know, reducing cardiovascular risk and patients at risk, you know, requiring LDL reduction and unable to get there with the current standard of care.

There we know there is a lot of those patients out there. So, this is a product that I think many of our physicians that we call them were eagerly anticipating this launch.

And I think that bears out in terms of the pretty rapid uptake that Brian described on new to brand. I think Vascepa required a little bit more, and I talked about this in earlier calls, you know, a little bit more category building, so to speak, because it really is very unique in terms of what it does.

And so that required, in some respects, a little, you know, little bit more education in terms of exactly you know, what how to how to fit that in. And that is why I think we continue to see progress with Vascepa even many years in because I think it the data are so robust.

But it is also, we are creating a treatment paradigm with Vascepa that frankly already existed in a sense with, with bempedoic acid.

When you say no restriction, I know Vascepa has significant restrictions on the public, payer side of things. But is that differentiated on the private payer side?

In other words, did Vascepa with private payers have restrictions that you are not seeing with Nilemdo?

Yeah. Exactly, Dave.

We estimate about half of patients on Vascepa. Through our private coverage have a prior authorization to conform to the various criteria.

And we, at this point, with the private access we have achieved with Nolemno, that 80% is without the need for prior authorization. So this is an open it is a full benefit and paid physicians can prescribe it without the need to do paperwork.

So if patient vast majority of patients should be able to go to the pharmacy until fill a script where half the patients with Vascepa would need to go through some paperwork process, which we facilitate support through our assistance program, but it you know, there is a barrier. It takes it takes time.

And the physicians are busy. So it just creates a bit of that element of a bit of a barrier.

Great. And last question, if I can.

The $300 thousand plus of Nolemdos sales, how much of that do you think was stocking in the channel? And should and should we expect a dip in the second quarter?

As initial No. We see you know, continued growth into to the quarter.

The channel build stays on hand. So as we grow, the continue to hold more.

But we are seeing this through IQVIA data. We are seeing the pull through from actual prescriptions, the new to brand patients, So Yeah.

The algorithms are pretty sophisticated at this point with the wholesalers, and know, last mile the patients the next day. So they are they are not holding a lot of inventory.

We are seeing we are seeing this being you know, demand driven.

Yeah. There was no heavy initial stocking as Brian said.

The stocking builds as demand grows and the days on hand tend to be consistent. So we continue to see, you know, on a weekly basis, increases in orders So, in other words, our weekly run rate in July, certainly, is better than June, better than in May.

And now with have not even yet been able to really activate our teams around some of the new access wins that we have. So we, we are looking at our internal forecast and raising them around Noemdo.

We expect third quarter to be much stronger than second quarter, and then, you know, growing momentum as we as we head into 2027.

Okay. Thanks.

that is it for me. Thanks, Dan.

Hey. Good morning.

Yeah. Thanks for taking my question.

I am on the line for right now. Considering it is still early, but I am interested to hear on perhaps are you seeing any cross selling synergies with Vascepa for Nilemdo.

And like, ours are kind of the Salesforce leveraging existing relationships with the specialist to drive the trial of Nilemdo and any trends on perhaps dual prescriptions.

Sure. This is Brian.

Thanks for the thanks for the question. Exactly.

And that is 1 of our key drivers for this for this deal is the synergy essentially at the base of the customer between Vascepa and the bempedoic acid franchise. it is almost complete overlap with the call point, the same customer base, and we are so we are seeing exactly that synergy you described.

Vascepa, any product where you are going into year 6 or 7, it is a little bit more difficult to bring new information. Our teams do the best thing every day to do that and support patients, but bringing something new exciting creates opportunity for more time for the customer.

And the what I have seen and what our teams have reported is this the lender story is straightforward. it is a very established unmet need, as Craig described.

We have created an access milieu, which is very efficient and easy, and so it is creating more time for Vascepa. And as we went through the quarter in Q2, despite the launch of Nilemdo we saw, acceleration in new patients new-to-brand patients for Vascepa, and we have seen that strong year over year growth.

So those hypotheses are playing out that we have a strong foundation as a franchise to, you know, to build to build on, and, you know, we are excited to so with NEXLIZET going into 2027 as well.

that is great to hear. I just got 1 last question regarding the expenses.

So you mentioned that you are holding the line on the expense side. So would it be fair to say that the Q2 was perhaps like, peak spend on the SNM for Nilemdo?

I think that is Yeah.

I think I think that is fair to say that it is likely the peak of the 4 quarters. Yeah.

And I would say, you know, we are we do a lot of dynamic budgeting at HLS, so we are always looking at where we can generate the best return on any dollar we spend. And so, you know, we look across the entire portfolio.

So it may very well be where we are generating growth with Nilemdo. You know, we might increase some investment there, but we will look at other areas that might we might be able to find some savings.

So that is a dynamic process. But on net, we are we are looking, you know, obviously, to know, to make sure we are we are maintaining our profitability as John mentioned.

Okay. that is it for me.

Yeah. Thanks.

Thank you.

Great. Thank you.

And thank you all participating on today's call. We look forward to reporting to you on our progress in coming quarters and speaking with you again soon.

Bye.