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March 4, 2011, 8:30 am ET
Stephen Willard – CEO
Siân Crouzet – Principal Financial Officer
Matt Kaplan – Ladenburg
David Moskowitz – Madison Williams Investment Company
Peter Butler – Glen Hill Investments
Peter Lux [ph]
Good morning, ladies and gentlemen, and welcome to the Flamel Technologies announces fourth quarter and 2010 annual results call. Today’s call is being recorded. After prepared remarks, we will be opening the call to a Q&A period. As a reminder, today’s call is being recorded. It is now pleasure to turn the call over to Mr. Stephen Willard, CEO. Please go ahead, Mr. Willard.
Thank you very much, Mark. And good morning, ladies and gentlemen. We open, as always, with the forward-looking statement language, which is set out at the conclusion of today’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.
2010 was a solid year for Flamel. We have advanced our projects in development with partners. The most important of these programs continues to be the long-acting beta interferon project that we are undertaking with Merck Serono. In the fourth quarter, we announced receipt of two payments totaling 4 million euros; the first related to our first clinical milestone for the development program and the second payment with respect to a technical achievement that we made at Merck Serono’s request.