QUVIVIQ sales increased 62% year-on-year as Idorsia advances key drivers of future growth

QUVIVIQ™ (daridorexant) sales reached CHF 91 million in H1 2026, up 62% year-on-year. Full-year 2026 guidance reaffirmed. Company focused on four key drivers of future growth.

Allschwil, Switzerland – July 30, 2026
Idorsia Ltd (SIX: IDIA), a commercial-stage biopharmaceutical company with a portfolio of first- or best-in-class assets, today announced its financial results for the first half of 2026.

Jean-Paul Clozel, Chairman and interim CEO of Idorsia, commented:
“There is significant untapped value across Idorsia’s commercial portfolio, development programs, and research pipeline, which our exceptional and committed people can unlock. Innovation remains the foundation of Idorsia's success and, as I prepare to hand over leadership to Roland Wandeler later this year, we are focused on advancing four key drivers of growth and value creation.

First, we are accelerating the growth of QUVIVIQ through expanded market access, geographic expansion, greater reach into primary care, and innovative patient engagement initiatives. In addition, we are investing in lifecycle opportunities, including the addition of daytime functioning and removal of the scheduled status in the US label, as well as global pediatric development in insomnia. Second, we are designing a program in a neurodevelopment disorder that could expand the long-term value of daridorexant beyond insomnia. Third, we are advancing toward the launch of TRYVIO / JERAYGO, to take advantage of the heightened awareness of the urgent need for improved treatment options in difficult-to-control hypertension, unlocking considerable value from this differentiated product. Finally, we continue to advance a broad and innovative pipeline, including lucerastat, our immunology portfolio, vaccine technologies, and next-generation discovery programs.

Together, these initiatives have the potential to unlock substantial long-term value for shareholders, partners, and patients.”

Maximize the current QUVIVIQ^® opportunity in insomnia

Expand the long-term value of daridorexant beyond insomnia

Unlock the value of TRYVIO™ / JERAYGO™ (aprocitentan)

Advance innovation and the pipeline

Corporate Highlights

Arno Groenewoud, Chief Financial Officer of Idorsia, commented:
“Our strong first-half 2026 performance reflects the growing realization of QUVIVIQ’s commercial potential and supports our confidence in achieving our full-year guidance. We also significantly strengthened our financial position by securing additional non-dilutive financing and eliminating our near-term debt maturities. I am happy that – together with investors in the SPV and potential co-promotion partners – we are advancing towards an efficient launch of TRYVIO / JERAYGO, without additional financial risk for Idorsia.”

Financial highlights for H1 2026

Financial Guidance

The financial guidance for 2026 reflects continued growth of QUVIVIQ, investment in the lucerastat registration program, and development of the company’s immunology portfolio. TRYVIO/JERAYGO revenues and investments are not included, as these will be considered in any potential partnership agreement. All amounts exclude unforeseen events and any potential upsides from new direct-to-patient distribution models currently being implemented in several geographies and revenue related to additional business development activities.

Financial results H1 2026

Net revenue of CHF 110 million in the first half of 2026 resulted from product sales (CHF 91 million), product sales to partners (CHF 6 million), and contract revenues (CHF 13 million). This compares to net revenue of CHF 131 million in the first half of 2025 as a result of QUVIVIQ product sales (CHF 56 million), product sales to partners (CHF 2 million), and contract revenue (CHF 73 million).

US GAAP operating expenses were CHF 174 million in the first half of 2026, with an increase of CHF 9 million compared to the first half of 2025 (excluding a one-off gain of CHF 90 million in the first half of 2025). Cost of sales of CHF 19 million increased by CHF 13 million due to higher product sales. R&D expenses of CHF 51 million and SG&A expenses of CHF 104 million remain almost flat.

US GAAP net loss in the first half of 2026 amounted to CHF 153 million compared to CHF 52 million net income in the first half of 2025. The increased net loss in the first half of 2026 was primarily driven by the increase of financial expenses by CHF 81 million (mainly non-cash due to the CHF 47 million debt extinguishment and CHF 15 million accretion of the New Money Facility, CHF 17 million interests on debt notes and CHF 4 million interests of the royalty monetization), the one-off gain of CHF 90 million and the one-off exclusivity fee of CHF 31 million, and milestone payment of CHF 32 million in the first half of 2025, partially offset by the lower operating net income (excluding contract revenue).

The US GAAP net loss resulted in a net loss per share of CHF (0.60) (basic and diluted) in the first half of 2026, compared to a net income per share of CHF 0.26 basic and diluted in the first half of 2025.

* Idorsia measures, reports, and issues guidance on non-GAAP operating performance. Idorsia believes that these non-GAAP financial measurements more accurately reflect the underlying business performance and therefore provide useful supplementary information to investors. These non-GAAP measures are reported in addition to, not as a substitute for, US GAAP financial performance.

Non-GAAP net loss in the first half of 2026 amounted to CHF 78 million; the difference versus US GAAP net loss was mainly driven by depreciation and amortization (CHF 8 million), share-based compensation (CHF 6 million), accretion expenses (CHF 15 million), interest expense recognized under the R-Bridge royalty monetization agreement (CHF 4 million) and debt extinguishment loss (CHF 47 million) relating to the repayment of the New Money Facility loan, offset by non-cash revenue recognized under the R-Bridge royalty monetization agreement (CHF 5 million).

The non-GAAP net loss resulted in a net loss per share of CHF 0.31 (basic and diluted) in the first half of 2026, compared to a net loss per share of CHF 0.13 (basic and diluted) in the first half of 2025.

About the Pharmakon Secured Term Loan
Idorsia entered into a senior secured term loan agreement of up to CHF 250 million with investment funds managed by Pharmakon Advisors, LP, at a fixed 7% interest rate (“Secured Term Loan”). Idorsia has received the first tranche of CHF 150 million and partially used it to fully repay the CHF 105 million drawn under the previously existing New Money Facility, plus OID and interests. The transaction removed near-term maturities and strengthened Idorsia’s liquidity profile. Additional tranches may be drawn – subject to customary conditions – providing further financial flexibility to support targeted initiatives to accelerate growth and long‑term value creation.

Liquidity and indebtedness
Liquidity on June 30, 2026, amounted to CHF 89 million. This amount does not include the remaining CHF 100 million available under the secured term loan.

* rounding differences may occur
** The debt notes issued by Idorsia Investments SARL (“SPV”) in exchange for convertible bonds are senior secured with the shares in Idorsia Investments SARL. The A Notes only benefit from a limited and subordinated Swiss-law governed guarantee by Idorsia Ltd.
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Notes to the editor

About Idorsia
The purpose of Idorsia is to discover, develop and commercialize innovative medicines to help more patients. To achieve this, we will develop Idorsia into a leading biopharmaceutical company, with a strong scientific core.

Headquartered near Basel, Switzerland – a European biotech hub – Idorsia has a highly experienced team of dedicated professionals, covering all disciplines from bench to bedside; QUVIVIQ™ (daridorexant), a different kind of insomnia treatment with the potential to revolutionize this mounting public health concern; strong partners to maximize the value of our portfolio; a promising in-house development pipeline; and a specialized drug discovery engine focused on small-molecule drugs that can change the treatment paradigm for many patients. Idorsia is listed on the SIX Swiss Exchange (ticker symbol: IDIA).

For further information, please contact
Kevin Boss
Director, Investor Relations
Idorsia Pharmaceuticals Ltd, Hegenheimermattweg 91, CH-4123 Allschwil
+41 58 844 10 10
investor.relations@idorsia.com – media.relations@idorsia.com – www.idorsia.com

The above information contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as “intend”, "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "anticipates" or similar expressions, or by discussions of strategy, plans or intentions. Such statements include descriptions of the company's investment and research and development programs, business development activities and anticipated expenditures in connection therewith, descriptions of new products expected to be introduced by the company and anticipated customer demand for such products and products in the company's existing portfolio. Such statements reflect the current views of the company with respect to future events and are subject to certain risks, uncertainties and assumptions. Many factors could cause the actual results, performance or achievements of the company to be materially different from any future results, performances or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described herein as anticipated, believed, estimated or expected. Idorsia has transferred its rights for aprocitentan, cenerimod and selatogrel to Idorsia Investments SARL to allow the repayment of notes issued in connection with the repurchase offer completed in August 2025. More details on the transfer can be found in the press release issued on May 21, 2025, and on the exchange offer in the press release issued on August 27, 2025.

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