TG Therapeutics, Inc.

Hello, and welcome to the TG Therapeutics second quarter 2020 earnings conference call. At this time, all participants are in a listen-only mode. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. A question and answer session will follow the formal presentation. As a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Jenna Bosco, Senior Vice President, Corporate Communications. Please go ahead.

Thank you. Good morning and welcome to our conference call to discuss TG Therapeutics' second quarter 2020 financial results and business update. I'm Jenna Bosco, TG's Senior Vice President of Corporate Communications, and I welcome you to our conference call today. Following our Safe Harbor statement, Sean Power, TG's Chief Financial Officer, will provide a brief overview of our financial results and then turn the call over to Michael Weiss, the company's Executive Chairman and Chief Executive Officer, who will provide an overview of the ongoing development of our lead compounds, Bublatuximab and Umbralisib, as well as an update on our overall company standing. Before we begin, I would like to remind everyone that many remarks we make about our future expectations, plans, and prospects constitute forward-looking statements for purposes of the Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. TG cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from those indicated. Factors that may affect TG Therapeutics operations include various risk factors that can be found in our SEC filings. This conference call is being recorded for audio rebroadcast on TG's website www.tgtherapeutics.com, where we'll be available for the next 30 days. All participants on this call will be on a listen-only mode. Now I'd like to turn the call over to Sean Power, our Chief Financial Officer, to briefly discuss the financial results for the second quarter of 2020, as well as the company's overall financial condition.

Thank you, Jenna, and thanks, everyone, for joining us. As you may be aware, our financial results were released this morning and can be viewed on the Investors and Media section of our website. I'll begin with our cash position. We are happy to have bolstered our balance sheet during the quarter, raising more than $240 million through the combination of our public offering and the use of our ATM facility, following the positive top-line Unity CLL Phase 3 results. Accordingly, at June 30th, we had cash, cash equivalents, and investment securities of $275.6 million, which we believe leads us well-funded to support our operations through 2021. Our net loss for the second quarter of 2020, excluding non-cash items, was approximately $45.5 million. The GAAP net loss for the second quarter of 2020 was $52.9 million, or 47 cents per share, compared to a net loss of $36.2 million, or 42 cents per share, during the comparable quarter in 2019. Our net loss for the six months ended June 30, 2020, excluding non-cash items, was approximately $85.6 million. The GAAP net loss for the six months ended June 30, 2020, was $104 million, or 95 cents per share, compared to a net loss of $71.4 million, or 85 cents per share, for the six months ended June 30th, 2019. For the remainder of 2020, we expect our R&D costs to decline as our pivotal programs continue to wind down, which will be partially offset by a modest increase in G&A costs as we continue to prepare ourselves for our first commercial launch. With that, I will now turn the call over to Mike Weiss, our Executive Chairman and CEO.