Baudax Bio, Inc.

Good morning, and welcome to the Bodex Bio Third Quarter 2020 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will be given at that time. As a reminder, this conference is being recorded at the company's request. I would now like to turn the call over to Claudia Steislinger of Investor Relations. You may begin.

Good morning, and thank you for joining us on today's conference call to discuss BodexBio's third quarter 2020 financial results. This is Claudia Steislinger, and I am joined today by Jerry Henwood, President and Chief Executive Officer, Ryan Lake, Chief Financial Officer, and John Harlow, Chief Commercial Officer. On today's call, Jerry will provide some introductory remarks and corporate updates. John will discuss the progress made on the commercial launch of Angesso, and Ryan will discuss the financial highlights. Following today's prepared remarks from Jerry, John, and Ryan, we will open the call for your questions. Earlier this morning, we issued a press release detailing our financial results for the third quarter 2020. The press release, along with a slide presentation that we will reference for today's call, is available on the events page of the news and investors section of our website at bodexbio.com. Before we begin our formal comments, I'll remind you that various remarks we make today constitute forward-looking statements pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our financial outlook. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our expectations and forecasts and can be identified by words such as anticipate, believe, could, estimate, expect, intend, may, plan, project, predict, will, and other words of similar meaning. The following are some of the factors that could cause our actual results to differ materially from those expressed in or underlying our forward-looking statements. The ongoing economic and social consequences of the COVID-19 pandemic, including any adverse impact on the commercial launch of Angesso or disruption in supply chain, our ability to maintain regulatory approval for Angesso, our ability to successfully commercialize Angesso, the acceptance of Angesso by the medical community, including physicians, patients, healthcare providers, and hospital formularies. Our ability and that of our third-party manufacturers to successfully scale up our commercial manufacturing process for Ingesto. Our ability to produce commercial supply in quantities and quality sufficient to satisfy market demand for Ingesto. And our ability to raise future financing for continued product development in Ingesto commercialization. This list of important factors is not all-inclusive. Any such forward-looking statements are not guarantees of future performance and involve certain risks and uncertainties. These risks are described in the Risk Factors in the Management's Discussion and Analysis section of BodexBio's annual report on Form 10-K for the fiscal year ended December 31, 2019, and any quarterly reports on Form 10-Q, which are on file with the Securities and Exchange Commission and available on the SEC's website. Any information we provide on this conference call is provided only as of the day of this call, November 9, 2020, and we undertake no obligation to update any forward-looking statements we may make on this call on account of new information, future events, or otherwise. In addition, any unaudited or pro forma financial information that we may provide is preliminary and does not purport to project financial positions or operating results of the company. Actual results may differ materially. I would now like to turn the call over to Jerry Henwood. Jerry?

Thank you, Claudia, and good morning, everyone. We hope those joining us today are keeping safe and healthy as we all continue to navigate through the ongoing COVID-19 pandemic. I'm happy to report this morning that Angesso continues to deliver on the profile that we have had for it. The vast majority of those who use the product have described that they believe the product is meeting or exceeding their expectations, and that many of them have had positive feedback from patients who've received the product to that extent as well. We are making progress in spite of the pace that is impacted by COVID-19. It has disrupted formulary meetings and has impacted elective surgery rates. That's all over the media. I'm not telling you anything new. John will go through a little bit more of the specifics of those impacts. But where we are able to get on formulary and get into the electronic records for post-op care, we see good progress. And all of that has prompted us to move to an even more focused and sustainable footprint around accounts where we have received early traction, where we can begin to see an opportunity for deepening of usage. We believe this success that we've seen is a good base on which to model forward progress as we try to navigate the pandemic in a sustainable way. We're going to also continue to pursue BD opportunities. There are still a few opportunities to out-license Angesso and some of our further pipeline products. There is interest. We continue to work forward with those and try to bring some of those to a conclusion in the next six months or so if we can do so on reasonable terms. In addition, there are a few in-licensing opportunities that could add to what we have in the bag, absorb some additional costs. Those are not in hand, but those are potential projects that we could do and that we are actively pursuing as well. We are also working to manage the balance sheet and expenses in this period, and that's why we've taken the steps that are announced in our release this morning about reducing the force and focusing where we are reducing the whole of the company by about 40 persons. So with that as an intro, I'm going to pass the baton to John to talk about commercial launch highlights.