Q1 net product sales surge 86% YoY to $145.4M; net loss narrows to $7.0M from $25.1M

Filed May 6, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 1, 2025 · ~2 min read

Key Changes

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  XDEMVY net product sales rose 86% year-over-year to $145.4 million in Q1 2026, driven by higher volume and improved gross-to-net discounts. Net loss narrowed dramatically to $7.0 million from $25.1 million in Q1 2025, a 72% improvement reflecting operating leverage as commercialization scales.

  MD&A: Revenue & Net Loss verify on EDGAR →
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  Company recognized $16.7 million in license revenue from China regulatory approval milestone (PRC approval of TP-03), a one-time payment under the GrandPharma out-license. $5 million in regulatory/patent milestones remain eligible; sales-based milestones and royalties continue.

  MD&A: China Milestone verify on EDGAR →
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  April 2026 presidential proclamation imposed tariffs up to 100% on certain patented pharmaceuticals and ingredients. Company removed prior assessment that tariff impact would be 'insignificant' and is now monitoring developments; XDEMVY fill/finish occurs in Europe.

  Risk Factors: Tariff Risk verify on EDGAR →