Cumberland Pharmaceuticals Inc.

Thanks to everyone participating on today's call, as Cumberland Pharmaceuticals provides their second quarter 2020 financial report and company update. Please note that this call is being recorded and will be archived on Cumberland's website for one week from today's date. I would now like to introduce Erin Goff, who handles corporate relations for Cumberland. Erin?

Good afternoon, and I hope everyone is safe and well. Earlier today, we issued a press release containing the company's financial results for the second quarter, ended June 30, 2020. A copy of that release, which also includes a corporate update and series of financial tables for the period, can be found on our website at www.cumberlandpharma.com. Bitterman, James Lowrance Those issues are described under the caption, Risk Factors, in our Form 10-K and any updates we file with the SEC. Any forward-looking statements made during today's call are also qualified by those risk factors. And despite our best efforts, actual results could differ materially from our expectations, and the information shared on the call should be considered current as of today only. Please remember that the company does not assume responsibility to update any forward-looking statements, whether as a result of new information or due to future development. During today's call, we'll be referring to several of our marketed brands, and full prescribing and safety information for those brands can be found through the links to each individual product website located on our corporate site at CumberlandPharma.com. Also, today we'll provide some non-gap financial measures with respect to our performance. An explanation and reconciliation to gap measures can be found in our earnings release and its financial tables. Also with us on the call today are A.J. Kazimi, Cumberland's Chief Executive Officer, Marty Cronall, our Chief Commercial Officer, and Michael Bonner, our Chief Financial Officer. On the call today, we'll start with an overview of our progress during the second quarter, and we'll follow with a discussion of our commercial activities. We'll then review our financial results and finish with the closing remarks before opening the call to any questions you may have. I'll now like to turn the call over to AJ to begin our corporate update and discussion of the company's performance.

Thanks, Erin. Good afternoon, everyone, and thank you for joining us. I hope you and your families are doing well during these difficult times, and we'd hope by now for significant relief from the impact of the novel coronavirus. which unfortunately continues to affect our healthcare system, the economy, employment, and all our daily lives. Our thoughts go out to all those who are suffering, especially those who have resulting life-threatening conditions, as well as those who have lost their jobs or their businesses. But I'd also like to acknowledge and thank the team here for their continued dedication and valuable contributions Bitterman, John Michael Hamm, Todd Anthony Cumberland has faced the same headwinds affecting other companies that rely on hospital admissions and patient visits to drive their revenue. The second quarter months of April and May this year were particularly difficult as less patients sought care and our access to medical facilities was substantially limited. Several of our brands were negatively impacted by the lockdowns Bitterman, James Lowrance Herman, Todd Anthony Our total revenues for the second quarter were $9.6 million, up 15% over the first quarter of this year and also up 2% over the prior year period. Our adjusted earnings for the quarter were $1.2 million, or $0.08 a share, compared to $0.08 million, or $0.05 a share, during the same period last year. and cash provided by operations grew to $3.7 million during the first half of 2020, which is more than double the 1.5 million operating cash flow we saw during the first half of last year. Meanwhile, during the second quarter, we made a special effort to support the medical professionals treating patient symptoms associated with COVID-19 infections. Bitterman, James Lowrance Employee Practices, and Community Involvement. This inaugural report outlined our activities associated with environmental, social, and governance, or ESG matters, and it's designed to address the interests of our shareholders, our employees, our partners, as well as our community. On the clinical front, enrollment in our studies significantly slowed. due to the decrease in patient admissions to medical centers across the country. However, we did work to ensure that patients who had already entered into one of our studies continued to receive their medication. And we also took the opportunity to provide sites with fresh supply of study drug so they were ready to go as their medical centers reopened. During the quarter, we also closely monitored our supply chain. With raw materials flowing into our international manufacturing facilities and finished product arriving at our warehouses, as a result, weekly shipments have continued to the distribution centers that supply our nation's hospitals and retail pharmacies. So with that overview, I'd now like to turn to Marty Cornell, Cumberland's Chief Commercial Officer, to share his update on our marketing and sales activities. Marty?