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Celsion Management Discusses Q2 2012 Results - Earnings Call Transcript

Before we begin the call, we wish to inform participants that forward-looking statements are made pursuant to the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995. You are cautioned that such forward-looking statements involve risks and uncertainties including, without limitation, the risk of clinical failures; delays or increased costs; unforeseen changes in the costs of our research and development activities and clinical trials by others; possible acquisition of other technologies, assets or businesses; and possible adverse actions by customers, suppliers, competitors, regulatory authorities and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.

We are joined today by Michael Tardugno, President and CEO at Celsion, Dr. Nick Borys, our Chief Medical Officer; and Greg Weaver, our Chief Financial Officer. On today's call, Mike will provide a corporate update, including an outline of the important milestones ahead in our Phase III HEAT Study for ThermoDox in primary liver cancer. Greg will discuss our second quarter 2012 financial results. Following that, Dr. Borys will discuss in further details our overall ThermoDox clinical development program. We will now open the call for your -- After then, we'll open the call for questions which we ask that you keep to no more than 2. With that, I'd like to turn the call over to Mike.

Michael H. Tardugno

Thanks, Jeff. Good morning, and thank you for joining us. I know of no better way to open this call than with a comment that I made at the annual shareholder meeting this last June. And that is this, this is a great time for Celsion and I daresay to be a Celsion shareholder.

I'm pleased to report that your company has never been so well positioned. For those on the call who are shareholders, I'd like to express our thanks for your support and continued confidence in your company's strategic clinical focus and innovative heat-sensitive liposome technology. The HEAT Study, our Phase III pivotal trial combining the first drug in our tumor-targeting platform, ThermoDox, with RFA to treat hepatocellular carcinoma or HCC is fully enrolled. We are now looking forward to data by our best estimate in the fourth quarter of this year from the largest pivotal trial ever conducted in the intermediate stage, the largest unmet need in oncology. And we have the financial resources sufficient to see us through data and well beyond, which means to be clear, we have no current plans for equity financing prior to data, and Greg will discuss this in more detail during his comments.

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