Fulgent Genetics, Inc.

Hello, and welcome to the Folger Genetics Q3 2023 earnings conference call webcast. If anyone should require operator assistance, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. You may be placed into question queue at any time by pressing star one on your telephone keypad. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Melanie Solomon, Investor Relations. Please go ahead.

Thanks, Kevin. Good morning and welcome to the Fulgine third quarter 2023 financial results conference call. On the call today are Ming Hsieh, chief executive officer, Paul Kim, chief financial officer, and Brandon Perthews, chief commercial officer. The company's press release discussing the financial results is available on the investor relations section of the company's website, www.Fulgine.com. A replay of this call will be available shortly after the call concludes on the investor relations section of the company's website. Management's prepared remarks and answers to your questions on today's call will contain forward-looking statements. These forward-looking statements represent management's estimates based on current views and assumptions, which may prove to be incorrect. As a result, matters discussed in any forward-looking statements are subject to risks, uncertainties, and changes in circumstances that may cause actual results to differ for those described in the forward-looking statements. The company assumes no obligation to update any of the forward-looking statements it may make today to reflect actual results or changes in expectations. Listeners should not rely on any forward-looking statements as predictions of future events and should listen to management's remarks today with the understanding that actual events, including the company's actual future results, may be materially different in what is described in or implied by these forward-looking statements. Please review the more detailed discussions related to these forward-looking statements, including the discussions of some of the risk factors that may cause results to differ from those described in these forward-looking statements contained in a company's filing with the Securities and Exchange Commission including the previously filed 10-K for the year ended December 31, 2022, and subsequently filed reports which are available on the company's investor relations website. Management's prepared remarks, including discussions of earnings and earnings per share, contain financial measures not prepared in accordance with accounting principles generally accepted in the United States or GAAP. Management has presented these non-GAAP financial measures because it believes they may be useful to investors for various reasons, but they should not be viewed as a substitute for or or superior to the company's financial results prepared in accordance with GAAP. Please see the company's press release discussing its financial results for the third quarter of 2023 for more information, including the description of how the company calculates non-GAAP income or loss, earnings or loss per share, and adjusted EBITDA, and a reconciliation of these financial measures to income or loss and earnings or loss per share, the most directly comparable GAAP financial measures. With that, I'd now like to turn the call over to Ming.

Thank you, Melanie. Good morning and thank you for joining our call today. I will start with some comments on the quarter, then Brandon will review our goal product and go to market update from the third quarter. And Paul will conclude with the financials and outlook before we take your questions. We are pleased with our results in the third quarter with $85 million of total revenue. Due to our successful collection effort, we recognize additional $90 million of revenue from previously billed COVID-19 tests. Our core revenue of $66 million was driven by momentum in precision diagnostic, as we expected. The revenue for the anatomic pathology were seasonally lower in the third quarter. Farmer service which we had said is a lumpy business, decreased in the third quarter as we anticipated. Given these results, we are pleased to affirm our guidance for the full year of $260 million of core revenue. We continue to make good progress with our therapeutic development, Origin Farmer, our novel nanoencapsulation technology, including over 40 patents and a targeted therapy platform designed to improve the therapeutic windows and the pharmacokinetics profile of both new and existing cancer drugs. Our lead drug candidate, FID-007, has shown promising results for the treatment of numerous cancers, including head and neck, ampullary, and pancreatic, with reduced side effects. This weekend we'll present additional data including all ongoing studies of FID-007 at society for immunotherapy of cancer. Annual meeting ongoing on now in San Diego. We'll then have the poster available on our website. From this data we are moving forward with phase two studies in head and neck cancer. We have submitted our phase two clinical protocol to FDA and expect an initial study in the first quarter of 2024. We are excited about reaching this next milestone for pharma and bringing FID-07 to more patients in clinical studies. I'd like to thank our employees and the shareholders for your loyalty During the past quarter, we're looking forward to close out a strong year and capitalize on the momentum, what we see ahead. I will now turn over the call over to Brandon, our Chief Communication Officer, to talk about our diagnosis business results during the quarter. Brandon?