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May 8, 2012 4:30 pm ET
Ashleigh Barreto – Investor Relations
John W. Varian – Chief Executive Officer
Paul D. Rubin – Senior Vice President, Research and Development and Chief Medical Officer
Fred Kurland – Vice President and Chief Financial Officer
Adnan S. Butt – RBC Capital Markets Equity Research
Matthew L. Kaplan – Ladenburg Thalmann Securities
Megan McCloskey – McNicoll, Lewis & Vlak LLC
Good afternoon, ladies and gentlemen, and welcome to the XOMA Corporation’s First Quarter 2012 Financial Results and Corporate Update Conference Call. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. (Operator Instructions) As a reminder, this call may be recorded.
I would now like to turn the presentation over to your host for today, Ashleigh Barreto, Investor Relations at XOMA. You may proceed.
Thank you, operator. Good afternoon and welcome to XOMA Corporation’s first quarter 2012 financial results and corporate update conference call. On our call today are John Varian, Chief Executive Officer; Dr. Paul Rubin, Senior Vice President, Research and Development and Chief Medical Officer; and Fred Kurland, Chief Financial Officer.
Certain statements made during this call concerning the timing of events related to clinical trials, anticipated size of clinical trials, continued sales of approved products, regulatory approval of unapproved product candidates and anticipated restructuring charges, sufficiency of our cash resources, and anticipated levels of cash utilization or that otherwise relate to future periods are forward-looking statements within the meaning of the Federal Securities laws. These statements are based on assumptions that may not prove accurate. Actual results could differ materially from those anticipated due to certain risks inherent in the biotechnology industry and for companies engaged in the development of new products in a regulated market.