HLS Therapeutics Inc.

Good morning and welcome to the Q2 2025 Financial Results Conference Call for HLS Therapeutics. At this point, I would like to turn the call over to David Mason, Investor Relations, for the introductory remarks.

Good morning, everyone, and thank you for joining us today. With me on the call is Craig Millian, Chief Executive Officer, John Hanna, Chief Financial Officer, and Brian Walsh, Chief Commercial Officer. Earlier this morning, we issued a news release announcing our financial results for the three and six months ended June 30, 2025. This news release, along with our MD&A and financial statements, is available on our website and on CDAR+. Please note that slides accompanying today's call can be viewed by the webcast, a link to which is available in our earnings press release and at our website on the events and presentations page. Certain matters discussed in today's conference call or answers that may be given to questions could constitute forward-looking statements. Actual results could differ materially from those anticipated. Risk factors that could affect results are detailed in the company's annual information form, which has been filed on CDAR+. During the call, we will refer to adjusted EBITDA. Adjusted EBITDA does not have any standardized meaning prescribed by IFRS. Adjusted EBITDA is defined in our press release and annual filings that are available on CDAR Plus and on our website. Please note that all financial information provided is in U.S. dollars unless otherwise specified. And I would now like to turn the meeting over to Mr. Millian. Please go ahead.

Thanks, Dave. Good morning, everyone, and thank you for joining us. On our call today, I'll review quarterly highlights and progress against corporate priorities. Brian will go into further detail on product performance along with an update on new product launch preparations. And then John will follow with a detailed look at the numbers and capital allocation. Following John, we'll hold a Q&A session. Looking at the second quarter and the year so far, we are making progress against our corporate objectives to drive profitable growth in our base business, strengthen our balance sheet, and lay the foundation for future growth via portfolio expansion. Our year-to-date results continue to reflect the successful transformation of HLS into a more efficient and financially sound organization poised to resume growth. I'll structure my remarks today around three key themes that Brian and John will expand upon in their sections. First, executing on our base business and driving operational performance. Second, building a leading Canadian-based cardiovascular franchise and preparing for launch excellence with NexLatal and NexLisette. And third, the continued strengthening of our financial foundation, which in turn increases our optionality to deploy capital. Let's start with a look at our Q2 and year-to-date business performance. Revenue in the quarter was $14.2 million and $26.8 million for the year-to-date period. Product revenues for Canada and the U.S. are up year-to-date in local currencies. Consolidated results reported in U.S. dollars have been impacted by FX headwinds, as well as a decline in royalty revenue over the first half of the year versus last year. Of note, in the second half of 2025, year-over-year royalty revenue comparisons should stabilize. Adjusted EBITDA grew by 21% in the second quarter and 29% for the year-to-date period. This strong growth reflects our continued focus on driving product performance while optimizing spend. Greater operating efficiency, along with progress in delevering our balance sheet, has driven improved cash flow. Cash from operations grew more than 80% in Q2 and almost 150% year-to-date. Overall, we're executing on our business plan and remain on track to achieve full-year guidance. The second theme I'd like to touch on is the build-out of the HLS Canadian cardiovascular franchise. The additions of Nexlatal and Nexlazet alongside the SEPA will further establish HLS as a leading Canadian-based company focused on cardiovascular risk reduction. Nexlatal and Nexlazet represent the type of assets we've been targeting through our business development efforts. These medicines are a strong strategic fit with the HLS product portfolio. They've been de-risked from a clinical and regulatory perspective, and they are being successfully commercialized globally and are already on track to generate hundreds of millions of dollars in global sales. Successfully launching these new medicines in Canada will be mission critical to driving the next phase of growth for HLS as we believe they have the potential to more than double the size of our cardiovascular business. Importantly, commercializing these products should require only a minimal increase in operating expenses as we leverage existing capabilities and don't plan on adding headcount ahead of launch. Post-launch, we'll take a stage-gated approach to sales and marketing spend as we gain payer access, and traction with prescribers. From a timing perspective, we expect approval by Health Canada before year-end and then to launch commercially in the second quarter of 2026. The third theme is the focus on strengthening our balance sheet, which will provide greater flexibility in the future. We've made significant progress paying down debt and lowering our interest expense over the past year, and this will continue to be a focus. Our strengthening balance sheet and improved operating cash flow will allow us to pursue multiple avenues to value creation. We plan to continue stock buybacks at attractive valuations and to further pay down debt, while also pursuing strategic growth opportunities that fit within our business development framework. In summary, at the mid-year mark, we are making progress against our operating objectives and our long-term goal of building a more financially fit organization that is poised for growth while establishing a leading portfolio of oral cardiovascular medicines in Canada. With that, I'll turn it over to Brian to provide more detail on our commercial performance and our expanded cardiovascular portfolio. Brian?