Flamel Technologies SA, (FLML)
2Q 2010 Earnings Call
July 29, 2010 08:30 am ET
Matt Kaplan – Ladenburg
Peter Butler – Glen Hill Investments
Edward Nash – Roth Capital Partners
David Moskowitz – Madison Williams
Please stand by, good morning ladies and gentlemen and welcome to the Flamel Technologies Second Quarter Earnings Conference Call. Please note that this call is being recorded.
Flamel Technologies requests that all investors review the forward looking statement language which is set out at the conclusion of yesterday’s press release.
All statements made on this call are subject to a variety of future events and risk factors including those set forth in Flamel’s filings with the SEC particularly on form 20-F, which are all publically available. Please review them as they are directly ethical to every element of this call.
I’d now like to turn the call over to Mr. Stephen Willard, please go ahead sir.
Thank you very much Rochelle and good morning ladies and gentlemen. Since our last quarterly call in May we have made important progress as highlighted in the press release detailing our second quarter results we are pleased with the progress that we have made recently particularly in the work we are undertaking with Merck Serono and Pfizer as well as a number of our other partners.
Excluding currency impacts we increased cash reserves during the second quarter. We maintain our cash reserves in Euros so as to match our expenditures.
Operationally we are pleased to announce the addition of three new programs as detailed in yesterday’s press release. Two of these programs are with a single partner for the development of controlled release formulations for cardiovascular drugs using our Micropump platforms.