Jean-Jacques BienaiméThank you, Eugenia. Good afternoon, and thank you for joining us on today's call. As usual, a few introductory comments before Jeff reviews the financials for the third quarter of this year, and Steve provides more details on the commercial activities, and then Hank will provide an update on a few of our ongoing R&D programs before we open the call for questions. So we are pleased with the progress we have made so far this year. Starting with our commercial portfolio in the third quarter of 2011, there was a year-over-year increase in BioMarin's net product revenues of 17% to $113 million. Our cash balance was $370 million at the end of the quarter, down from $412 million at the end of the second quarter. The primary reason for the decline was the $48.5 million spent on our new manufacturing facility in Ireland, which was completed during the third quarter. Excluding this, our cash balance increased quarter-over-quarter. As for our clinical and preclinical programs, we have made important progress on advancing our pipeline. We have several major clinical milestones expected in the next year or so, including results for the Phase II trial for PEG-PAL, the pivotal Phase III trial for GALNS, the Phase I/II trial for BMN-701 for Pompe, the Phase I/II trial for BMN-673 for genetically defined cancers and the neurocognitive trial for Kuvan. The positive outcome in one of these trials or more of these trials could have significant implications for the future of the company. And with this in mind, the successful execution of our pipeline is a top priority for the company and we plan to host an R&D day in New York on December 8 to discuss our pipeline progress in more details. Moving on to the investigator-sponsored trial of Kuvan in autism. The data from this small single-center Phase II study was presented in a poster presentation at the American Academy of Child and Adolescent Psychology on October 20. The study did not need its primary or secondary endpoints. However, 3 subscale secondary measurements, we did it to social awareness, autism mannerisms and language with statistical significance. Since the open-labeled portion of the trial is ongoing, it is premature right now to speculate on additional study outcomes or any next potential steps for BioMarin. We do not believe that the results from the autism trial will be predictive of our ongoing neurocognitive study for Kuvan in PKU, as it is likely that the mechanism of actions defers in this 2 indications. Kuvan's ability to lower Phe levels in some patients and the correlation between high Phe levels and neurocognitive deficits in PKU patients has been well documented through different meta-analyses, and whereas the cause of autism is still unknown.
And in terms of guidance, we have made a few adjustments. We increased the bottom end of our Kuvan expectations from a range of $112 million to $120 million to a range of $115 million to $120 million. We also raised our expectations for R&D spend from a range of $200 million to $205 million to a range of $205 million to $210 million. The higher spend is attributable to our increased efforts for the successful execution of our pipeline programs, which resulted in better-than-anticipated enrollment in our clinical studies. Our new non-GAAP adjusted EBITDA is in the range of $45 million to $55 million. Now I would like to turn the call over to Jeff Cooper, who will review the financial results for the third quarter of 2011.Read the rest of this transcript for free on seekingalpha.com