Rapid Micro Biosystems, Inc.

Hello, my name is Lisa and I will be your conference operator today. At this time, I would like to welcome everyone to the Rapid MicrobioSystems third quarter 2022 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star 1 again. Thank you. I would now like to turn the call over to Mr. Mike Boyer.

Please go ahead, sir.

Good morning, and thank you for joining the Rapid Microbiosystems Third Quarter 2022 Earnings Call. Joining me on the call are Rob Spignesi, Chief Executive Officer, and Sean Werches, Chief Financial Officer. Earlier today, we issued a press release announcing our third quarter financial results. A copy of the release is available on the company's website at rapidmicrobio.com under investors in the news and events section. Before we begin, I'd like to remind you that many statements made during this call may be considered forward-looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events Results or performance are forward-looking statements, including, but not limited to, statements relating to Rapid Micro's financial condition, anticipated year-end cash balance, cash runway, and future revenue and system placement, expectations for our projected cost savings resulting from the organizational restructuring actions, expectations for business development and growth, the Board of Directors review of potential strategic alternatives, customer interest and adoption of the growth direct system, expectations for our new RMB nucleus mold alarm, and the potential impact of macroeconomic uncertainty and COVID-19 on Rapid Micro's business. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. For a list and description of the risks and uncertainties associated with Rapid Micro's business, please refer to the risk factors section of our annual report on Form 10-K filed with the Securities and Exchange Commission on March 24, 2022, as such risk factors are updated in our subsequent filings with the SEC. We urge you to consider these factors, and you should be aware that these statements should be considered estimates only and are not a guarantee of future performance. Also, the company's contract with the U.S. Biomedical Advanced Research and Development Authority, or BARDA, was completed in the fourth quarter of 2021, Throughout our quarterly performance discussions, we will be excluding the non-commercial revenue impact from BARDA by comparing total 2022 revenue to commercial revenue in 2021. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, November 10, 2022. Rapid Micro disclaims any intention or obligation except as required by law to update or revise any financial projections,