Assertio Holdings, Inc.

any background noise. After the speaker remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. And please limit yourself to one question and one follow-up. Thank you. I would now like to turn the call over to Matt Krebs of Investor Relations. Matt, the floor is yours.

Good afternoon, and thank you all for joining us today to discuss Sardio's second quarter 2024 financials. The news release covering our results for this period is now available on the Investor Relations page of our website at investor.assertiotx.com. I would encourage all of you to review the release and tables in conjunction with today's discussion. With me today are Brendan O'Grady, our Chief Executive Officer, and A.J. Patel, Chief Financial Officer. In just a moment, Brendan will open the remarks and provide an overview of the business, then A.J. will cover our financial results and guidance. After that, we will take questions from our covering research analysts. Please note that during this call, management will make projections and other forward-looking statements regarding our future performance. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, including those noted in this afternoon's press release, as well as the CERTIOS filings with the SEC. These and other risks are more fully described in the risk factor section and other sections of our annual report on Form 10-K and in our Form 10-Q filings. Our actual results may differ materially from those projected in the forward-looking statements. Assertio specifically disclaims any intent or obligation to update these forward-looking statements, except as required by law. And with that, I will now turn the call over to Brendan. Please go ahead.

Thanks, Matt. Welcome, everyone, to today's call, and thank you for joining us. As many of you already know, this is my first earnings call since I joined Assertio a little over two months ago, and I'm very excited to be here. Over the past couple of months, I've been asked by a variety of stakeholders why I joined Assertio. I expect that question may come up today in Q&A, so I thought I would address this upfront. Over the past year, Asserdio has navigated the impact of the loss of exclusivity on Edison, as well as the acquisition and integration of Spectrum that brought us Rolvidon. These transformational events have allowed Asserdio to reset. We have a solid balance sheet, modest debt on favorable terms, good assets led by a new growth driver in Rolvidon, and a platform ready to scale with the addition of future assets that fit a well-defined and proven commercial model. For all of these reasons, we are well positioned for growth and to deliver value for the patients and providers we serve, as well as the shareholders and employees. Assertio is also an excellent match to the background and skillset that I have developed over my 30 plus years in the pharmaceutical industry. In particular, the 20 years I spent at Teva which built a multibillion-dollar branded specialty business mostly through acquisition, integration, and focused go-to-market strategies. While much of my time at Teva was focused in specialty biologic and branded pharma segments, I also gained experience and delivered results in biosimilar and generic markets both inside and outside the U.S., giving me a breadth of experience across Assertio's current asset base. Lastly, I have significant relevant experience in acquiring and integrating new assets, which of course includes the due diligence in process. For all of these reasons, very simply put, Assertio needs and my skill set is a very good match, so here I am. I want to be clear as I speak with you today that we are not planning, that I'm not planning, any radical departures from the current strategy. Our focus will remain on steady execution, driving cash flow, and identifying the next assets we can add to bring further scale to Assertio's platform. In doing so, we will bring greater value to our long-term stakeholders. Now, with that said, turning to performance, the second quarter continued the momentum from the first quarter and tracks well to our full-year outlook. Volvodon Q2 sales increased again quarter over quarter, driven by a six consecutive quarter of demand growth. I had the opportunity right after joining the company to meet with several customers, and the feedback was overwhelmingly positive. Volvodon is well regarded by physicians, well tolerated by patients, and stands out against the field of biosimilars. We are focused on using our unique position as a non-biosimilar to offer stability and predictability to providers and patients, and that message is resonating. Additionally, we completed enrollment of Rolvidon's same-day dosing trial early in Q2 and expect to present the initial data at a major medical conference later this year. I'm excited about Rolvidon as it's going to play a key role for us over the next several years. Turning to Indicyn, we currently have one generic competitor, and our share in the market is holding at our internal target levels which we are comfortable at. We are managing the loss of exclusivity and are working to maintain this volume at a competitive price. We have successfully right-sized our organization, cut costs, and made sure we have the right team in place to deliver results under this evolving dynamic. In my prior role, I had the benefit of overseeing the largest generic portfolio on the planet and worked with generics and late stage assets at many other points in my career. So this is familiar territory for me, as we work to maximize our opportunity with this and other assets that have lost exclusivity. In addition, we are currently working as a team in assessing the rest of our existing assets, seeking either the potential for modest growth or continued cash flow delivery, depending on their stage of life and market dynamics. As a result of this ongoing execution, we generated $7.4 million in cash, driving total cash to more than $88 million at the end of the quarter. While our working capital needs have increased with the addition of Rolodon, our cash balance provides a key advantage as we look to add accreted assets that fit our commercial model. And with that, I will turn the call over to AJ to review the financials in more detail. Thanks, Brendan.