Field Trip Health Ltd.

Greetings and welcome to the Field Trip Health and Wellness Fiscal First Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. Anyone to require operator assistance during the conference, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. I would now like to turn the call over to Phil Carson, Managing Director with KCSA. Thank you. You may begin.

Thank you, Operator. Good morning, everyone, and welcome to the Fiscal First Quarter 2023 Earnings Conference Call for Fieldtrip Health and Wellness Limited. Before I begin the call, I'm obligated to remind everyone that during the course of this conference call, management may be making some forward-looking statements that are based on current expectations and are subject to a number of risks and uncertainties that may cause actual results to differ materially from expectations. These results are outlined in the risk factors section of the company filings and disclosure materials. Any forward-looking statements should be considered in light of these factors. Please also note, as safe harbor, any outlook presented is as of today, and management does not undertake any obligations to revise any forward-looking statements in the future. Presenting today will be Ronan Levy, Chairman and CEO, Mujib Jafri, President, and Donna Wong, CFO. I'll now hand the call over to Ronan, who will provide an update on field trip health and wellness strategies going forward.

Thank you, Phil, and welcome everyone. Thank you for joining us this morning. We are excited to be holding the first ever call as the newly independent Fieldtrip Health and Wellness Limited. Four years ago, when we started the company that would become Fieldtrip Health Limited, we set out to both trailblaze a new approach to mental health treatments, leveraging the incredible potential of psychedelics and to bring these therapies into the mainstream. And I believe unequivocally we have achieved that objective. It's nearly impossible these days to read any major news or lifestyle publication without some mention of a study hailing the potential of psychedelics or some heartwarming anecdote about how psychedelics have saved or transformed someone's life. Looking at Fieldtrip's share of voice in North American media coverage of psychedelics shows how much the work we've been doing has contributed to the awareness and ongoing success of these treatments. Now that we've separated from reunion neuroscience, as field trip health and wellness, we are able to reach the next step of making psychedelic assisted treatments more accessible. Today, we are leveraging our first mover advantage in this rapidly growing market to build a global psychedelics brand through our 12 operating field trip health centers and digital platform. Reflecting back on the approach we embarked on four years ago, one limitation we imposed upon ourselves was that Even though the techniques we were developing were new, they were still very much couched in the conventional language and mindset of psychiatry. Our ketamine-assisted therapies were very much thought of as a medical mental health intervention. But let's face it, as it pertains to depression, anxiety, and PTSD, modern psychiatry has but simply not been effective. Simply look at the data. One in five Americans suffer from a mental health condition. At the start of 2022, more than 24% of Americans were taking prescription mental health medications. Yet a recent study published in the BMJ found that only 15% of people respond to conventional antidepressants, meaning 85% of people don't. Compare that to the results we've generated at Fieldtrip, where, on average, most people who complete our ketamine-assisted therapy protocols see their depression and anxiety scores improve from severe to mild, and those improvements last for four months or longer. As far as I'm aware, there are no current treatments offering nearly this efficacy. It is now very evident that the traditional belief of psychiatry that prescription medication on its own has the ability to effectively and substantially treat mental health conditions is flawed. And so just as field trip trailblazed a path to psychedelic medicine four years ago, now with the birth of field trip health and wellness, we are setting out to lead a whole new approach to mental and emotional health and well-being. One that recognizes that depression and anxiety are not just functions of our brains, but also very much a function of how we live our lives. Over the coming weeks and months, you're going to see Fieldtrip evolve into a company that not only leverages the power of psychedelics as treatments for mental health conditions, but also through tools like our app, Trip, help people dive deeper into self-discovery and self-awareness and change their lives as much as their minds. This will help people to find their motivations, to discover their passions, and to find the freedom to be happy, connected, and free from depression and anxiety, and simply to be themselves. Of course, elevating mental health in such a manner is not going to be without its challenges, but we are well capitalized to execute upon this strategy. The unmet social need is urgent and the market opportunity significant. According to a recent industry report issued by H.D. Wainwright, the future of psychedelic medicine is incredibly bright. It is expected to up to 10 million people will be treated annually in the U.S. alone by 2025 using psychedelic therapies and is projected to potentially generate upwards of $400 billion in annual revenue at its peak. Fieldtrip Health and Wellness is well positioned to lead the way in this incredible market opportunity. I will now hand the call over to Wajib to provide an update on operational highlights for the first quarter and our digital platforms.