Neurocrine Biosciences, Inc.

Good day, everyone, and welcome to the New York Green Biosciences Report's first quarter results. At this time, all participants are in a listen-only mode. Later, you will have the opportunity to ask questions during the question-and-answer session. You may register to ask questions at any time by pressing the star and 1 on your touch-tone phone. You may withdraw yourself from the queue by pressing the pound key. Please note this call may be recorded, and I will be standing by should you need any assistance. It is now my pleasure to turn the call over to Todd Tushla, Vice President of Investor Relations. Please go ahead.

Thank you, Operator, and good morning, everyone. Welcome to Neurocrime's first quarter 2023 earnings call. This morning, I'm joined by Kevin Gorman, our Chief Executive Officer, Matt Abernathy, our Chief Financial Officer, Irie Roberts, our Chief Medical Officer, Eric Benevich, our Chief Commercial Officer, and Kyle Gano, our Chief Business Development and Strategy Officer. I'll remind everyone that during today's call, we will be making forward-looking statements. These statements are subject to certain risks and uncertainties, and our actual results may differ materially. I encourage you to review the risk factors discussed in our latest SEC filings. After our prepared remarks, we will once again do our best to address all of your questions. And now, I'll hand the call over to Kevin Gorman.

Thank you, Todd, and good morning. Well, Ingresa has had yet another very good quarter of sales. And I say this from a dollar perspective, but more importantly, the fundamentals of bringing Greza to patients is even stronger with more new prescriptions than ever. And remarkably to me, this occurred in Q1, typically our toughest quarter because of insurance reauthorizations. As you know, we call it a tale of two quarters. The first several weeks working through the reauthorizations process and the second half going back to a singular focus on patient diagnosis and treatment. What I also find additionally impressive for Q1 is that persistence and adherence remain as strong as ever. Patients and prescribers recognize the impact that Ingreza has on their patients' tardive dyskinesia and on their lives. So we're entering Q2 with momentum and with fundamentals like this in Q1, it bodes very well for a very strong year. Now, Matt will make some cautionary statements for Q2 that are very valid. But take those in the context that 2023 is setting up to be quite strong. One of the aspects of Nurikin that I am most proud is our ability to make difficult decisions with the ultimate goal to utilize our resources wisely to be able to bring as many life-changing medicines to patients as we are capable. That requires making tough fiscal decisions to deploy our cash and our talent to grow our business. To that end, we announced this morning that we will be returning the commercialization rights of Ongentis to Bial. Make no mistake, Ongentis is a very good drug, as evidenced by the positive feedback we have received over the past two plus years. Unfortunately, from the time we licensed this medicine to the launch in 2020, the Parkinson's adjunctive therapeutic category went through fundamental changes, which posed significant commercial challenges. Despite our best efforts, we have been unable to surmount those challenges. We are not the only company experiencing these challenges in this therapeutic category. Going forward, both our and Bial's primary focus is to ensure new and existing patients do not experience any interruption in receiving ongentis as we transfer commercial activities. Now, finally, as Irie will discuss on this call, We continue to make very good progress on our clinical portfolio and are on track for a number of Phase II and Phase III readouts later this year and the August PDUFA of valbenazine for the treatment of chorea in Huntington's disease. As you know, enrollment was impacted in a number of our programs by several macro factors, but the teams have worked diligently and have kept all these programs on time, on budget, while retaining the highest level of quality. So with that, I will turn the call over to Matt.