I'll now turn the call over to Kelly Martin.G. Kelly Martin Thanks, David. Good morning and afternoon to everybody. Thank you for joining us on the call. And on behalf of our Chairman, Bob Ingram, and myself, I'm delighted to share with you our second quarter results. As per typical, I will give a few opening comments, and then importantly, turn the call to our Chief Financial Officer, Nigel Clerkin. He'll walk you through the detail of the quarter. And then we're happy to take Q&A at the end of the call. I'll focus my comments on 3 broad topics. First and foremost, bapineuzumab/AIP. As you all, I'm sure, have read 2 days ago, Pfizer Inc. chose to release, on a standalone basis, the results of the 302 trial. We, to remind people, are blinded to both the data and the process, so we have nothing fundamental to add to what has already been released by Pfizer, and further commented on by Johnson & Johnson. Like everybody else, we are looking forward to hearing the full results of the Study 301 trial which is the ApoE-negative patient population. And as have reported on the Pfizer announcement, we, like everyone else, would expect those data to be available soon. Further, the details around the 302 and 301 trial, as again released by Pfizer, those details will be reviewed in detail in Sweden at the EFNS meeting sometime in early September. Second area of focus is obviously Tysabri. You'll hear more from Nigel on that. Yesterday, in the Biogen earnings call, they also reviewed a number of the important data and fundamentals. Just to highlight a few, in the second quarter of 2012, the net patient adds for Tysabri were roughly 2,400 patients. That's the largest net patient add in a quarter in over 2 years. The assay continues to be rolled out both in U.S. and rest of world. And its adoption is obviously helpful in both clinical practice and patient education. And as referred to by both Biogen, and you'll hear more -- a bit more from it from Nigel, a second-generation assay is on its way to being rolled out. And that will give -- allow for further sensitivity on measurements, which will allow for even more detailed clinical patient discussion.
The underlying fundamentals of Tysabri business appear to be strong, appear to be broad and consistent. And in some ways the underlying fundamentals of the business are running slightly ahead of the current revenue, given some of the challenges in both FX and certain areas of our rest of world/European business.My third area of commentary, before I turn it to Nigel, is just a broad restatement of parts of our strategy. As we have done and continue to do and will continue to do, we remain resolutely focused on improving all fundamentals of our business. That includes, from a financial point of view, utilization of our balance sheet to strengthen our capital structure; working closely with Biogen on the positioning of Tysabri in its current business and exploring prudently future businesses around Tysabri; being innovative in our science area and taking a disciplined approach to different targets which may, over time, lead to clinical assets which ultimately can lead to patient and commercial assets. So our strategy remains consistent. Our focus remains the same. As we have done consistently over the last number of years, we continue to focus on providing shareholders with a value proposition that allows for upside at risk dynamics which continue to decrease as the business moves forward. Read the rest of this transcript for free on seekingalpha.com