IsoRay, Inc. Common Stock (DE)

Good day, ladies and gentlemen, and welcome to the ISO-RAE Inc. Q1 FY 2023 call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for questions and comments after the presentation. It is now my pleasure to turn the floor over to your host, Mark Levin. Sir, the floor is yours.

Thank you, operator. Good afternoon, and thank you for joining us today for the ISO-RAE Fiscal First Quarter 2023 earnings call for the quarter ended September 30, 2022. Before we get started, I will take a few minutes to read the forward-looking statement. Certain statements within this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended. When used in this conference call, words such as will, believe, anticipate, encourage, and similar expressions as they relate to the company or its management, as well as assumptions made by and information currently available to the company's management, identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs and about future events as of today, November 10, 2022, including statements regarding the anticipated synergies and benefits of the proposed merger with viewpoint molecular targeting. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstances, and the company undertakes no obligation to, and expressly disclaims any obligation to update or alter its forward-looking statements, whether resulting from such changes, new information, subsequent events, or otherwise. Risk and uncertainties include whether the proposed merger is completed, and if so, whether the anticipated benefits of the merger are realized, whether an event occurs, including an event with a material adverse effect, or a condition to closing the merger is not satisfied, such as failure to obtain approval from ISARAY stockholders that results in a failure to complete the merger, whether ISARAY and Viewpoint are able to successfully integrate their businesses, and whether restrictions on ISARAY's business during the pendency of the merger harm our business. Additional information concerning forward-looking statements is contained under the headings of safe harbor statement, and risk factors listed time to time in the company's filings with the Securities and Exchange Commission. We will begin today's call with Lori Woods, ISRA's Chief Executive Officer, and Tay Spohr, Chief Executive Officer of Viewpoint Molecular Targeting. And then Jonathan Hunt, ISRA's Chief Financial Officer, will discuss the fiscal first quarter 2023 financial results. Following their prepared remarks, we will take questions from our analysts and institutional investors. I will now turn the call over to Lori.

Thank you, Mark. Good afternoon, and thank you for joining us today for ISRA's Fiscal First Quarter 2023 Earnings Conference Call for the quarter ended September 30, 2022. Joining us again today is Tase Spohr, Chief Executive Officer of Viewpoint Molecular Targeting. Together we will be discussing the proposed merger of our two companies and why we believe the combination represents an attractive opportunity for investors. Following our prepared remarks, our Chief Financial Officer, Jonathan Hunt, will provide a more detailed review of our fiscal first quarter financial results. Before we discuss the proposed merger with Viewpoint, I have a brief update on our isotope supply and our attendance at ASTRO, the American Society of Therapeutic Radiation Oncologists. The isotope supply chain issues that impacted us during the first quarter of 2023 have been resolved. The second reactor that was down for planned maintenance came back online in early September and has supplied all of our isotope needs since then. Additionally, I am happy to report that the other reactor that experienced the unplanned disruption is back online and we anticipate receiving our first isotope shipment from it early next month. I am also pleased to update you on our recent participation at ASTRO's annual meeting. It was noteworthy for a few reasons. This was the first ASTRO meeting since the pandemic that had a significant in-person attendance. It was very gratifying to be able to connect with our customers and colleagues again and to see the interest from physicians in the development of theranostic radiopharmaceuticals such as Lead 212. We participated in discussions and heard from many different constituents that the time has come for this technology to make significant inroads in the treatment of a variety of cancers. We had very interesting discussions with leading research institutions on proposed clinical trial work, both with cesium-131 and lead-212. We're very excited about the follow-up planned with these institutions. Now, turning to the proposed merger. We believe that the proposed merger with Viewpoint presents an exciting transformational opportunity for ISOR-A and our stakeholders. To fully appreciate what this opportunity represents, I believe it is helpful to look at this merger from the perspective of where we've been and where we stand now. IceRay has been a company founded on the merits of cesium-131 brachytherapy for the treatment of cancers. As we evolved, our expansion beyond prostate cancer to the treatment of other cancers throughout the body reflected a strategic approach to growing the company and treatment opportunities for patients and their doctors. When we announced the viewpoint transaction, I shared with you that we had undertaken a rigorous evaluation process, bringing in industry experts to help us analyze our target markets of radiation, theranostic radiopharmaceuticals, and imaging technologies. Our research and due diligence was based on our determination to continue to build on Isoray's leadership role in brachytherapy while positioning ourselves at the forefront of the next major advancements in cancer treatment. At the same time, we were equally determined to remain committed to continuing to bring precise, personalized, targeted solutions that advance options for patients. The proposed merger does just that, as we believe it provides a pipeline of future products supporting that commitment to our patients, assuring the continued growth of Ice Array and increasing shareholder value. We believe the merger represents a pivot for Ice Array going forward, given the early-stage nature of Viewpoint's Theranostic radiopharmaceutical portfolio. A significant amount of the combined company's resources and investments going forward will be focused on the development of Viewpoint's pipeline. We believe that based on the compelling results of the early stage data and the overall market opportunity that exists for Viewpoint's portfolio, investing in the development of Viewpoint's product pipeline will be richly rewarded over time. Those rewards will come as clinical milestones are achieved and innovative products are brought to market. Now I will turn the call over to Tace to talk further about the recent developments at Viewpoint and the opportunities that we believe their pipeline represents.