Cumberland Pharmaceuticals Inc.

Thank you for joining the Cumberland Pharmaceuticals fourth quarter 2020 financial report and company update. This call is being recorded at the company's request and will be archived on Cumberland's website for one week from today's date. Now, I would like to introduce Erin Gull, who is responsible for corporate relations at Cumberland. Erin, please go ahead.

Good afternoon, everyone. Earlier today, we issued a press release containing the company's financial results for the fourth quarter and the full year ended December 31, 2020. You can find a copy of that release on our website at www.cumberlandpharma.com. Please note that today's discussion may include forward-looking statements as defined in the Private Securities Reform Act of 1995, And because any such statements reflect the company's current views and expectations concerning future events, they may involve some risks and uncertainties. Additionally, there are many factors that could affect the company's future results, including, but not limited to, natural disasters, public health epidemics, economic downturns, and other events beyond our control. Those issues are described under the caption, Risk Factors, in our Form 10-K, and any additional updates we file with the SEC. Any forward-looking statements made during today's call are qualified by those risk factors. And despite our best efforts, actual results could differ materially from our expectations and the information shared on today's 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 developments. During today's call, we'll be referring to several of our marketed brands, and full prescribing and safety information for each brand can be found on the individual product websites, and the links to those product sites can be found via our corporate site at CumberlandPharma.com. Also today, we'll provide some non-GAAP financial measures with respect to our performance. An explanation and reconciliation to GAAP measures can be found in the financial tables in our earnings release that was issued earlier today. With me on today's call are A.J. Kazimi, Cumberland's Chief Executive Officer, Marty Curnow, our Chief Commercial Officer, and also Michael Bonner, our Chief Financial Officer. Today we'll start with an overview of our progress during the fourth quarter and follow with a discussion of our commercial activities. We will then review our financial results and we'll finish with the closing remarks before opening the call to any questions. A.J. Kazimi, Cumberland's Chief Executive Officer

Like many other companies, we encountered a variety of challenges as a result of the pandemic, and I'm pleased to report that our team rose to the occasion despite the significant headwinds we faced. On balance, we were able to successfully manage through the most difficult operating environment we have faced as a company. Importantly, our facilities remained open, our operations continued, and we were able to keep our organization intact. And I'd just like to start by recognizing and thanking our team for their dedicated efforts, which enabled Cumberland to support the patients who rely on our products. As we've previously stated, the decline in hospital admissions and physician office visits has negatively impacted several of our brands. Fortunately, though, the diversity of our product portfolio and our customer base helped to mitigate that impact. Moreover, we adjusted certain market strategies and we reinvented the way in which we operate our business and interacted with our customers. Changes in access to medical facilities and providers required us to employ innovative methods of communication and support. And as a result of all those efforts, we were able to deliver continued growth during 2020. Our fourth quarter revenues were $10 million, up 10% over the prior year period. And our revenues for the full year were $37 million, growing 9% over the prior year. This favorable performance was led by our two largest brands, Vibative and Crystalose. During 2020, our Vibative product was used to help COVID-19 patients Bitterman, John Michael Hamm, Todd Anthony and hospitalized COVID patients. Crystalose, meanwhile, benefited from the support of our co-promotion partners who featured the brand with physicians and facilities that we don't cover. We were able to augment our capabilities through the successful implementation of these sales collaborations which helped result in Crystalose growth last year. Meanwhile, we have been closely monitoring our supply chain including the facilities that supply the raw materials along with those that manufacture our products. We oversaw the resulting finished goods that were being shipped to us and then on to warehouses that support the country's hospital and retail pharmacies. Understandably, enrollment in our clinical studies did decline during 2020 due to closures and restrictions in the institutions that were recruiting our needed patients. We have been working with the study sites as they begin to reopen and we do look forward to a resumption of patient accrual on a more normalized basis as we work through the completion of each of the clinical trials. During 2020, we were also able to maintain compliance with the many requirements that apply to us as a publicly traded pharmaceutical company. Included in those efforts was our successful hosting of an FDA audit of our corporate facility and our processes here. So with that overview, I'd now like to turn to Marty Cornell, Cumberland's Executive Vice President and Chief Commercial Officer, to share his update on our marketing and sales activities. Marty?