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As we begin today’s call we wish to remind you that certain statements contained herein and that will be made orally today concerning regulatory consideration of proposed clinical trial and filing plans, anticipated size of clinical trials, anticipated timing of initiation of clinical trials and expected availability of clinical trial results, or that otherwise relate to future periods are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. 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.Among other things, regulators may reject clinical trial and filing plans or find them inadequate at anytime based on medical scientific safety or other reasons. Clinical trials may not be of anticipated size of trials that are not initiated or due to enrollment issue such as unavailability of patients, competing product candidates or unanticipated safety issues. The timing of initiation or of availability of results of clinical trials maybe delayed or may never occur as a result of actions or inaction by regulators or our present or future collaboration partners. Complications in the design implementation or third party approval of clinical trials, complications in the collection or interpretation of statistical data or unanticipated safety issues and final results of clinical trials may in any event not be consistent with preclinical or interim results. These and other risks, including those related to the generally unstable nature of current economic and financial market conditions; the results of discovery and pre-clinical testing; the timing or results of pending and future clinical trials, including the design and progress of clinical trials; safety and efficacy of the products being tested; action, inaction or delay by the FDA, European or other regulators or their advisory bodies; and analysis or interpretation by, or submission to, these entities or other scientific data; changes in the status of existing collaborative or licensing relationships; the ability of collaborators, licensees and other third parties to meet their obligations and/or discussion and decision making, XOMA’s ability to meet the demands of the United States government agency with which it has entered into its government contracts; competition; market demand for products; scale-up, manufacturing and marketing capabilities; availability of additional licensing or collaboration opportunities; international operations; share price volatility; XOMA’s financing needs and opportunities; uncertainties regarding the status of biotechnology patents; uncertainties as to the costs of protecting intellectual property; and risks associated with XOMA’s status as a Bermuda company are described in more detail in XOMA's most recent filing on Form 10-K and in other SEC filings. Consider such risks carefully when evaluating XOMA’s prospects.
I’ll now turn the call over to John Varian.John Varian Good afternoon and thanks for joining us. I really appreciate having the opportunity to speak with many of you for the first time on our call today. Fred will give you a quick review of the financial results for the third quarter followed by a brief Q&A. Then we’ll spend the bulk of our time together on our gevokizumab news today, and how that fits into our overarching strategy to build significant value in XOMA. That discussion will be followed by an additional Q&A session. Fred? Fred Kurland Thank you, John, and welcome everybody to our call. I’ll make this brief so we have plenty of time for the gevokizumab discussion. In the third quarter ended September 30, 2011, XOMA had total revenues of $16.2 million, compared with $10.9 million in the third quarter of 2010. Third quarter 2011 revenue includes $5.9 million from Servier under our collaboration agreement for gevokizumab. Read the rest of this transcript for free on seekingalpha.com