Insmed Incorporated

Welcome to the InSmed second quarter 2021 financial results conference call. My name is Elliot and I will be coordinating your call today. If you would like to ask a question during the presentation, you may do so by pressing star followed by one on your telephone keypad. I'll now hand over to our host, Eleanor Barissa, to begin. Eleanor, please go ahead when you're ready.

Thank you, Elliot. Good morning and welcome to today's conference call to discuss our second quarter 2021 financial results and provide a business update. Before we start, let me remind you that today's call will include forward-looking statements based on current expectations. Such statements represent our judgment as of today and may involve risks and uncertainties that may cause actual results to differ materially from the results discussed in the forward-looking statements. Please refer to our filings with the Securities and Exchange Commission, which are available through the SEC's website at www.sec.gov or from our website or information concerning the risk factors that could affect the company. The information on today's call is not intended for promotional purposes and not sufficient for prescribing decisions. Joining me on today's call are members of the Intimate Executive Management Team, including Will Lewis, Chair and Chief Executive Officer, Dr. Martina Flanner, Chief Medical Officer, Roger Adset, Chief Operating Officer, and Sarah Bonstein, Chief Financial Officer. Let me now turn the call over to Bill Lewis for prepared remarks. Upon completion of those remarks, we will open the call up for your questions.

Thank you, Eleanor, and good morning, everyone. We are pleased to be sharing our second quarter results with you today. From InSmith's point of view, we have begun to see some signs of improvement in our commercial and clinical activities in the U.S., and we believe, given current information, that Europe and Japan are behind the U.S. in terms of recovery trajectory. While the full impact of the Delta variant remains unknown, we are closely monitoring the entire COVID-19 landscape and remain optimistic about InnsMed's future. Let me frame out the InnsMed story in a way that captures the progress we have made in our plans for the future. InnsMed is currently advancing programs aligned to four strategic pillars. These are Aircase, Rensocaptive, TPIP, and Translational Medicine. Within each pillar is the potential for significant expansion well beyond our initial near-term development plans. Let me briefly address each of these four pillars. Starting with error case, we are very excited to announce that the launch of error case in Japan kicked off just last month. We now have approval and launch of error case for refractory NTM in the U.S., Europe, and Japan. Notably, the list price in each of these territories is roughly equivalent. In the U.S., while uncertainty lingers around the trajectory of the pandemic, we remain confident in growth in the second half of this year. You'll hear more about our commercial progress from Roger later on the call. Our error case frontline program also continues to advance with the goal of establishing a new standard of care for frontline patients suffering from NTM lung disease. Let's now turn to the second pillar, brensocacid, which we view as a launch pad for the treatment of neutrophil-mediated diseases. Our Phase III Aspen study is underway, and if we see positive results from this study and receive regulatory approval, we see the opportunity for brenzocative in bronchiectasis as very significant, underscored by the potential applicability of the mechanism of action in a range of indications regulated by the DPP-1 pathway. We believe our third pillar, proprostenol palmitoyl inhalation powder, or TPIP, has the potential to be the cornerstone of therapy for the treatment of PAH and PHILD. By unlocking the full potential of prostanoid therapy, we believe TPIP could provide a disease-modifying impact for patients in need. Our fourth pillar, translational medicine, is built upon our core competency of treating serious and rare diseases. and importantly, is not limited to a particular technology or therapeutic area. Our approach will follow the same historic pattern where we progress through animal work, followed by a public announcement of candidates ready to enter a phase one study. We look forward to sharing developments from our translational medicine efforts in the next 12 months. We expect that these four pillars and the capital and talent behind them will enable us to achieve our vision of becoming a globally recognized leading biotechnology company. I believe that this framework will deliver for patients, and therefore our shareholders, a very bright future for Intamed. And with that, I'll turn the call over to Sarah to walk through our financial results.