Kamada Ltd.

Greetings and welcome to the Commodah LTD third quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Brian Ritchie, LifeSci Advisors. Thank you. You may begin.

Thank you. This is Brian Ritchie with LifeSci Advisors. Thank you all for participating in today's call. Joining me from Kamada are Amir London, Chief Executive Officer, and Jaime Orlev, Chief Financial Officer. Earlier today, Kamada announced its financial results for the three and nine months ended September 30th, 2024. If you have not received this news release, please go to the investors page of the company's website at www.kamada.com. Before we begin, I would like to caution that comments made during this conference call by management will contain forward-looking statements that involve risks and uncertainties regarding the operations and future results of Kamada. I encourage you to review the company's filings with the Securities and Exchange Commission, including, without limitation, the company's Forms 20F and 6K, which identify specific factors that may cause actual results or events to differ materially from those described in the forward-looking statements. Furthermore, the content of this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, Wednesday, November 13, 2024. HMADA undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call. With that said, it is my pleasure to turn the call over to Amir London, CEO. Amir?

Thank you, Brian. My thanks also to our investors and analysts for your interest in Kamada and for participating in today's call. Let me start my talk by emphasizing that our four pillars of profitable growth strategy, which I described in our last call, are successfully reflected in the strong financial results we delivered in the third quarter at the first nine months of 2024. Our business continues to deliver robust, profitable growth. During the third quarter, total revenues were $41.7 million, a 10% increase as compared to the same period in 2023, and adjusted EBITDA for the third quarter was $8.8 million, an 11% increase compared to the third quarter of 2023. Total revenues for the first nine months of the year were up 15% to $121.9 million as compared to 2023. And the adjusted EBITDA for the recently completed nine-month period was $25.4 million, up 43% over the prior year nine months and representing a 21% margin of revenues. Based on our continued strong performance and positive outlook for the remainder of 2024, we are increasing our adjusted EBITDA guidance to be between $32 million to $35 million, a 12% increase of the midpoint from the previous guidance, and we are reiterating our fully revenue guidance of $158 million to $162 million. In addition, for the first nine months of the year, we generated $37.2 million of cash provided by operating activities, which demonstrates our consistent ability to convert our reported adjusted EBITDA to operational cash flow. Before turning the call over to Jaime to discuss his financial results in greater detail, I want to review our growth strategy and operational highlights. Commodant's four-peeler profitable growth strategy includes organic growth of our existing commercial portfolio of six FDA-approved products marketed in over 30 countries, business development and M&A transactions, which we expect to support and expedite our growth, the plasma collection centers we have and will continue to open, and the ongoing phase III typical trial for inhaled AET product that is targeting in over $2 billion markets. During the first nine months of 2024, We made significant progress advancing each and every of these growth catalysts, as I will shortly detail. Our year-over-year profitable growth is driven by the strength of our diverse commercial portfolio as we continue to improve our overall sales mix to increase sales of our two most profitable growth drivers, Kedrub and Cytogem. Moreover, earlier this year, we successfully launched our first biosimilar product in Israel, and expect to launch our next biosimilar product within a few weeks. We have several other biosimilar products in the pipeline to be launched in the coming years. We anticipate that biosimilars will become an increasingly important portion of our distribution business with peak potential annual sales of $30 to $34 million. We continue to maintain a very strong balance sheet and ended the third quarter with $72 million in cash and have the financial strength to both accelerate the growth of existing business and pursue compelling business development and M&A opportunities, a process we remain actively engaged in and would expand our commercial portfolio. These compelling opportunities are expected to support our continued double-digit growth beyond 2024. We continue to progress Kamada's plasma operation in the U.S., and during the third quarter we announced the opening of a new plasma collection center in Houston, Texas. This new 12,000 square foot center is sent to support over 50 donors' beds with an estimated total collection capacity of over 50,000 liters annually. The opening of this center is an important milestone for Kamada as it expands the collection capacity of specialty plasma for internal use beyond our existing site in Beaumont, Texas. The new center in Houston is expected to be one of the largest sites for specialty plasma collection in the U.S., and we'll also collect normal source plasma to be sold to third parties. In addition to the new Houston center, we've begun construction of a third plasma collection site in San Antonio, Texas, which we expect to open during the first half of 2020 site. As a reminder, each collection center is expected to contribute annual revenues of between $8 million to $10 million in cells of normal source plasma at its full capacity. Turning now to inhaled AT therapy, a long-term growth catalyst for Kamada. Enrollment continues in the ongoing Pivotal Phase 3 Innovate Clinical Trial. As a reminder, earlier this year, we filed an IND amendment with the US FDA that consisted of a revised statistical analysis trend and study protocol, which, if approved, may allow for the acceleration of the program. We continue to anticipate further FDA feedback before the end of this year. As we have said previously, in parallel to the clinical and regulatory progress achieved here, we also continue to have discussions related to the potential partnering of these promising investigational late-stage product candidates. With that, I now turn the call over to Jaime for a detailed discussion of our financial results from the third quarter and first nine months of 2024. Jaime, please go ahead.