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Flamel Technologies CEO Discusses Q3 2010 Results - Earnings Call Transcript

Flamel Technologies SA ( FLML)

Q3 2010 Earnings Call Transcript

November 5, 2010 8:30 am ET

Executives

Stephen Willard – CEO

Sian Crouzet – Principal Financial Officer

Analysts

Matt Kaplan – Ladenburg Thalmann

David Moskowitz – Madison Williams

Presentation

Operator

Good morning, ladies and gentlemen, and welcome to the Flamel Technologies third quarter 2010 earnings conference call. Please note that this call is being recorded. There will be a question and answer session, following today's presentation. (Operator Instructions)

I would now like to turn the call over to Mr. Stephen Willard, CEO. Please go ahead, sir.

Stephen Willard

Yes. Thank you. Good morning, everyone and thank you for joining our call today. As always, we open with 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 our filings with the SEC, particularly our Form 20-F, which are all publicly available. Please review them, as they are directly applicable to every element of this call.

Since our last quarterly call in August, we have been progressing well on our major projects. Last month, we announced the achievement of the 3 million euro clinical development milestone and our development of an extended release formula for Merck Serono. The molecule we've been working on with Merck Serono is beta interferon 1a. Yesterday, we announced the achievement of a second additional milestone for the same program. According to the terms that we initially negotiated in 2007, we will receive a further $1 million milestone payment.

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