Radius Recycling, Inc.

Ladies and gentlemen, and welcome to the Q1 2021 RADIUS Health Incorporated Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session, and instructions will follow at that time. If anyone should require assistance during the conference, please press star, then zero on your touch-tone telephone. As a reminder, the conference is being recorded. I would now like to turn the conference over to your host, Mr. Ethan Holdaway, head of IR.

Thank you, and hello, everyone. Thank you for joining us today. A press release and presentation that we'll use to guide the discussion can be found in the investor relations section of our website. A replay of the call will also be available on our website three hours after the call. Before we begin, I'd like to remind everyone of our safe harbor statement on page two. This presentation includes forward-looking statements and non-GAAP financial measures. You can find the reconciliation of GAAP to non-GAAP at the end of the finance section of the presentation. Our most recently filed 10-K and subsequent filings identify factors that could cause our actual results to differ materially from those indicated by the forward-looking statements. Any forward-looking statements represent our views as of today only. On today's call, Kelly Martin, president and CEO, will start with his opening comments. Jim Tropis, our principal finance and accounting officer, will then provide a financial update. Sal Grasso, chief commercial officer, will follow with an update on the Timalos commercial business. Chaya Shah, our chief business officer, will provide a clinical and regulatory update on Ebola Paratide. And Liz Messersmith, head of our orphan business group, will finish with a brief update on RAD11. We will then open the call up for questions. I'd now like to turn it over to Kelly.

Thank you very much, Ethan, and welcome, everybody. Thanks for taking some time this morning, this Friday morning, for our Q1 update. As Ethan said, you'll hear from the leadership team on various parts of the business and With regard to RAD 011, Liz will give you a brief update on where we stand with that molecule and program in future calls. You'll also hear from Rupert Haynes, who's accountable for the franchise, as we move that forward. On page four, from an opening commentary point of view, I wanted to emphasize a couple important things. We run the company based on the assets that we have. We have three large and identified assets. Obviously, Abala Paratide, Elastostran, and now RAD011. For Abala Paratide, the SC business in the U.S. is an excellent business with high margins and a lot of upside. Sal, you'll hear more from Sal about the commercial pivot towards fracture patients. We believe that there's good upside with that business. In addition to that, there's three other areas for upside. We will obviously have the patch readout, which you'll hear from Shia on in the second half of this year. We have the mail readout, also the second half of this year. And you have an international opportunity to globalize the molecule into other markets. We've made progress in Japan and Canada, and we hope to incrementally make more I would characterize and we characterize all three of those buckets as additional upside to the asset. Elastostrand is now partnered with our good partner Menorini Group from Italy. That transaction, in my opinion, last summer was the most important thing over the last 12 months that we got accomplished. We like the space, meaning the breast cancer space. It is a crowded and sophisticated space. we do have with Menorini the lead molecule from a timeline point of view, and we would also characterize that data readout as upside to us given the transaction that we did last year, which took out the event risk for us. Last but not least, with RAD011, it was an asset that we were able to acquire at reasonable acquisition costs, It's an asset that has a multiplicity of applications, which you'll hear from Liz about briefly. Our initial focus is PragerWilly. There's activity going on in additional potential orphan indications. We view that asset as an asset that could have high optionality that would be easily absorbable from a P&L point of view. So that's the way we think about the portfolio of the current assets that we have. From a P&L point of view, we continue to focus on the operating leverage of the company. We believe there is significant operating leverage within the company. And our focus, in addition to the portfolio approach, as I described above, our focus also is resolute on the P&L, the balance sheet, and then the value drivers of both the P&L balance sheet and the portfolio as they are interlinked. More tactically for 2021, as we've said before, our areas of focus are five main ones. Grow Tymlos-US. Execute Avaloparatide with readouts in the second half of the year for both the ADAM study and the wearable study. Expand where we can and where it makes sense the Avaloparatide footprint, and lots of discussions are in flight. achieve Elastostrand Phase III readouts with our partner Menorini Group sometime in the second half of the year. And importantly, with our new asset, a FDA meeting upcoming in June, post that meeting, hopefully we'll have a path forward on a Prader-Willi protocol and pivotal trial. That will be our main focus, and then subsequently we will begin to look at Other organ diseases, that might make a lot of sense with the same molecule. So that's the way philosophically we run the company. Portfolio, asset-based, timelines, risk-reward, and how it all fits together. And just to repeat my commentary, with Abalaparatide, international, mail, and patch are all upside. SC is a business from a commercial execution point of view, which we believe has upsides. Elastostrand with our transaction of last year, we took out the downside and the event. And then positioning properly Rad 011 for high option value would be an important part of the future value consideration of the company. I hope that's helpful to all of you as we think about the company. And with that, I'm now going to turn it over to Jim Chopas, our principal finance officer, and he will walk you through the Q1 financial results. So Jim.