Medexus Pharmaceuticals Inc.

Greetings. Welcome to the Medexus Pharmaceuticals first quarter 2027 conference call. At this time, all participants are in a listen-only mode. A question and answer session will follow the formal presentation. If anyone should require operator assistance during the conference, please press star zero on your telephone keypad. Please note this conference is being recorded. I will now turn the conference over to your host, Victoria Rutherford, Investor Relations, you may begin.

Thank you, and good morning, everyone. Welcome to the Medexus Pharmaceuticals first fiscal quarter 2027 earnings call. On the call this morning are Ken d'Entremont, Chief Executive Officer, and Brendon Buschman, Chief Financial Officer. If you have any questions after the conference call or would like further information about the company, please contact Adelaide Capital at 480-625-5772. I would like to remind everyone that this discussion will include forward-looking information as defined in Canadian securities laws that is based on certain assumptions that Medexis believes to be reasonable in the circumstances but is subject to risks and uncertainties. Actual results may differ materially from historical results or results anticipated by the forward-looking information. In addition, this discussion will also include non-GAAP measures such as adjusted EBITDA adjusted EBITDA margin and adjusted gross margin and net debt, which do not have any standardized meaning under IFRS and therefore may not be comparable to similar measures presented by other companies. For more information about forward-looking information and non-GAAP measures, including reconciliations, please refer to the company's MDNA, which, along with the financial statements, is available on the company website at www.medexus.com and on CDARplus at www.cdarplus.ca. As a reminder, Medexus reports on a March 31st fiscal year basis. Medexus reports financial results in U.S. dollars and all references are in U.S. dollars unless otherwise specified. I would now like to turn the call over to Ken d'Entremont.

Thank you, Victoria, and thank you everyone for joining us on this call today. We're pleased with our first quarter results which reinforce our confidence in the growth trajectory of Grapepex and the strength of our business. Grapepex delivered its strongest quarter to date with product level performance of Grapepex, net of working capital changes accretive to quarterly operating cash flows in fiscal Q127. The product continues to perform in line with our expectations that product level net revenue from Graphopex will be $30 to $32 million for fiscal year 2027, making it an increasingly important driver of Medex's operating and financial performance. For the three months ending June 30th, we recognized product-level net revenue from Graphapex of $4.9 million compared to approximately $3.2 million of product-level personnel and infrastructure investments over the same period. Commercial adoption also continues to progress well. Wholesaler data as of June 30th, 26th shows that 75 individual health care institutions have already ordered graphopex for procedures in their institutions and 54 of those institutions have placed repeat orders. ordering by healthcare institutions and payer coverage and access trends have been highly encouraging and the early indicators of patient-level demand continue to reinforce the value proposition Graphapex brings to patients, providers, and payers. Based on the continued commercial traction we are seeing, we continue to expect Graphopex to achieve annual product level net revenue of approximately $100 to $175 million within five years after commercial launch. Beyond the continued success of Graphopex, we remain excited about the broader opportunities we see in the Aloe HSCT space and are continuing to invest strategically to strengthen our leadership in this space. In June, we signed agreements for the exclusive Canadian rights to commercialize UM171 cell therapy. As we discussed on our last call, this is a proprietary advanced clinical stage investigational drug product that recently received conditional marketing authorization in Europe from the European Commission as ZemCell Pro. If approved in Canada, UM171 Cell Therapy would be an excellent strategic fit with Triosulfan, which we commercialize in Canada as Tricondyph. Turning to our overall financial performance, net revenue for fiscal Q127 increased to $28.6 million from $24.6 million in the prior year. while adjusted EBITDA increased to $4.7 million from $3.4 million. We also generated net income of $0.5 million consistent with prior year period and operating income improved to $2.1 million from $0.9 million. We otherwise remain focused on delivering strong overall performance across our portfolio of products in both the US and Canada. Supported by our resilient portfolio of established products, the continued growth of Graphopex, an exciting new product opportunity in UM 171 Cell Therapy in Canada, and strong fiscal foundation, we remain focused on discipline execution, generating cash, investing in business opportunities that create long-term value. I will now turn the call over to Brendon, who will discuss financial results in more detail. Thank you, Ken.