TherapeuticsMD, Inc.

for the Therapeutics MD Second Quarter 2022 Financial Results Conference Call. Following prepared remarks from the company, we will open the call for questions. I would now like to turn the call over to Investor Relations for Therapeutics MD, Lisa Wilson. Lisa?

Thank you, Operator. Good morning, everyone, and thank you for joining today to discuss our second quarter financial results and business updates. This morning, TherapeuticsMD issued a press release announcing its second quarter 2022 financial results. The press release and accompanying presentation are available on the company's website, TherapeuticsMD, in the Investors and Media section. On today's call from TherapeuticsMD are Chief Executive Officer Hugh O'Dowd, Interim Chief Financial Officer Michael Donegan, and Chief Commercial Officer Mark Glickman. I would like to remind everyone that certain statements made during this conference call may be forward-looking statements. Such forward-looking statements are based upon current expectations and there can be no assurance that the results contemplated in these statements will be realized. Actual results may differ materially from such statements due to a number of factors and risks, some of which are identified in our press release and our annual, quarterly, and other reports filed with the SEC. These forward-looking statements are based on information available to TherapeuticsMD as of today, and the company assumes no obligation to update these statements as circumstances change. An audio recording and webcast replay for today's conference call will also be available online in the Investors and Media section of the company's website. For the benefit of those who may be listening to the replay or archived webcast, this call was held and recorded on August 15, 2022. With that, I'll turn the call over to TherapeuticsMD's CEO, Hugh O'Dowd.

Thank you, Lisa, and thank you, everyone, for joining our call today. Today, I'd like to share our progress against our goals and highlight the key milestones met during the second quarter. our total net revenue for the quarter was $28.6 million, an increase of 24% over the second quarter of 2021. At the same time, our total operating expenses during the quarter declined by $11.4 million, or 21%, while gross profit rose by 26%. The second quarter of 2022 also saw us complete the divestiture of our VitaCare business unit in just five weeks, our organization went from deal announcement to closing. With the proceeds from these efforts, the company has been able to repay $120 million of debt during the second quarter, and TXMD is now a far more focused business dedicated to advancing the health of women throughout all stages of their lives. Our final accomplishment to note is the U.S. Food and Drug Administration's approval of our supplemental new drug application for Anavera, which increases our current and future supply. With this approval, we expect a significant reduction in manufacturing batch rejections and an increase in future product supply that will enable the company to better meet customer demand for Anavera. Now that I've discussed these achievements, I wish to spend a moment acknowledging another key event of the quarter. As you all know, in May, we entered into a definitive agreement to sell the company to EW Healthcare Partners. However, the transaction did not garner sufficient support from our shareholders. Our recent financing with Rubric Capital Management and accompanying maturity extension have provided us with additional runway such that our board of directors and management team remain forward-looking in evaluating all options, including seeking partners to refinance our current debt or pursuit of other strategic alternatives. All of this to enable us to serve our two primary constituencies, our patients and our shareholders. And with that, I'll turn it over to our interim chief financial officer, Michael Donegan, to discuss our financial results in greater detail. Michael?