Opko Health, Inc.

Ladies and gentlemen, thank you for standing by, and welcome to OpcoHealth's Second Quarter 2020 Financial Results Conference. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. To ask a question during that session, you will need to press star 1 on your telephone. Please see advice at today's conference may be recorded. If you require any further assistance, please press star NCL. I will now hand the conference over to Yvonne Briggs with LHA Investor Relations. Please go ahead.

Thank you, Operator, and good afternoon. This is Yvonne Briggs with LHA. Thank you all for joining today's call to discuss Opco's health financial results for the second quarter of 2020. I'd like to remind you that any statements made during this call by management other than statements of historical fact will be considered forward-looking and, as such, will be subject to risks and uncertainties that could materially affect the company's expected results. Those forward-looking statements include, without limitation, the various risks described in the company's SEC filings, including the annual report on Form 10-K for the year ended December 31, 2019, and in subsequently filed SEC reports. Importantly, this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, today, July 30th, 2020. Except as required by law, OPCO undertakes no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this call. Before we begin, let me review the format for today's call. Dr. Philip Frost, Chairman and CEO, will open the call, then Steven Rubin, Opco's Executive Vice President, will provide a business update and pipeline review, and then Dr. John Cohen will discuss bioreference laboratories. After that, Adam Logel, Opco's CFO, will review the company's second quarter financial results, and then we'll open up the call to questions. Now let me turn the call over to Dr. Frost.

Good afternoon, and thanks for joining the call today. We continue to contend with the COVID-19 pandemic As our business meets with both challenges and opportunities, I'm proud to say that BioReference Laboratories has further solidified its leadership position with COVID-19 testing for both the public and private sectors. Our management team and employees have done an outstanding job to meet the ever increasing demand for testing to help manage the pandemic and its rapid spread. Given these successful efforts to provide quality results, Within reasonable turnaround times, BioReference has been chosen to provide testing services by the CDC, various states, cities, and large healthcare systems, as well as several high-visibility professional sports organizations. As you would expect, BRL's base clinical testing business has been impacted by the reduction in the number of physician office visits and the postponement of elective medical procedures. However, With the easing of restrictions, starting in May, we began to see some recovery in our base testing services. Regardless, COVID-19 testing has more than offset this decline and was a strong contributor to our second quarter growth and profitability. As we look to the third quarter, with daily case numbers continuing to increase, we foresee strong demand for COVID-19 tests. Notwithstanding the pandemic, we've made progress with our pharmaceutical business. We're on track for Pfizer to submit a BLA for our human growth hormone product to the FDA this fall. In addition, we reported favorable top line results for the Sumetragon phase 3 trial in Japan in children with growth hormone deficiency, showing non-inferiority to the current standard of daily injections. Regarding Rialdi, Sales growth was impacted by restrictions put in place to manage the pandemic. Nevertheless, reality sales continue to make progress, and also the number of prescriptions and number of prescribers. Because of a unique action of vitamin D to produce a potent antimicrobial peptide in humans, we believe reality may be helpful in treating patients with COVID-19. and are pleased that the FDA recently authorized a Phase II trial, which we hope to begin soon. Finally, in recognition of the important contributions to OPCO in its role as viral reference laboratories, John Cohen was recently appointed to the OPCO Board of Directors. Welcome, John. So with that, I will now turn the call over to Steve Rubin to further discuss our business unit. Thank you, Phil.