Opko Health, Inc.

Good day and welcome to the Opco Health Second Quarter 2025 Financial Results Conference Call. All participants will be in the listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note, this event is being recorded. I would now like to turn the conference over to Yvonne Briggs. Please go ahead.

Thank you, Operator, and good afternoon. This is Yvonne Briggs with Alliance Advisors IR. Thank you all for joining today's call to discuss Opco Health's financial results for the second quarter of 2025. 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 are subject to risks and uncertainties that can materially affect the company's results. These 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, 2024, and subsequently filed SEC reports. Furthermore, this conference call contains time-sensitive information that is accurate only as of the date of the live broadcast, July 31, 2025. 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 Chief Executive Officer, will open the call. Dr. Elias Zerhouni, Vice Chairman and President, will then provide an overview of BioReference Health as well as Opco's pharmaceutical business. After that, Adam Logel, Opco's Chief Financial Officer, will review the company's second quarter financial results and discuss Opco's financial outlook. And then we'll open the call to questions. Now I'd like to turn the call over to Dr. Frost.

Good afternoon, and thank you for joining us. Today, we will report on the continued progress of Opco Health's strategic initiatives and business performance. We have streamlined BioReference Health's operations as we prepare to close the sale of its oncology and related clinical testing business to LabCorp. This transaction monetizes certain assets while sharpening BioReference's focus on its core testing business and improving its financial profile. This is our second transaction with LabCorp to unlock value and accelerate bioreferences path to profitability. On the pharmaceutical side, we continue to advance our innovative therapeutic pipeline. MODX has two programs in phase one clinical trials, with three more expected to enter the clinic late this year and early 2026. A significant catalyst for our pipeline is the phase one data from our EBV vaccine partnered with Merck that will guide decisions regarding phase two testing. We're pleased with the progress of our collaboration with Enterra Bio to develop an oral tablet formulation of OPK88006, our GLP-1 glucagon agonist for the treatment of obesity and MASH. Oral administration of this drug candidate has demonstrated encouraging results in animal models, with in vivo data presented at the endo-annual meeting in mid-July. OPCO is independently developing OPK88006 for subcutaneous administration, with in vivo data having been presented at the American Diabetes Association 85th Scientific Sessions in June. We're also collaborating with EnteroBio on a second program, to develop an oral form of our GLP-2 candidate for short bowel syndrome. Our Latin American business and our Irish contract pharmaceutical development and manufacturing unit continue to perform well with increasing revenue and expanding margins, even while facing foreign currency headwinds. We've taken several strategic steps to improve our balance sheet, and have sufficient capital to allocate to our R&D efforts, which are partially funded by strategic partners and non-dilutive sources. In addition, we have a $200 million common stock repurchase program in place, with 141.5 million remaining capacity as of June 30th. As you've noted, we're committed to maximizing shareholder value through the strategic deployment of capital, additional partnerships, business development initiatives, and asset sales. We're confident that this strategy will continue to add value in the second half of 2025 and beyond. With that overview, I'll turn the call over to Elias.