I'll then provide a financial overview and comments with respect to our cash position, details on our investments in research and development activities, as well as updated financial guidance for 2012.Robert will then conclude the call with additional comments regarding recent activities and expected next steps for our development stage programs as well as an update regarding projected company milestones for the remainder of 2012. We will then open the call for a brief question and answer session. The following discussion including our responses to questions contain statements that constitute forward-looking statements for the purposes of the Safe Harbor provisions of the private securities litigation reform act of 1995. Including but not limited to statements relating to our financial guidance, to the initiation enrollment designed conduct and results of clinical trials, and to other research and development activities. Our actual results might differ materially from those projected in these forward-looking statements. Additional information concerning factors that could cause our actual results to differ materially from those forward-looking statements is contained in our SEC filings including our most recent annual report on form 10-K, our quarterly reports on form 10-Q, and our current reports on form AK. Copies of these documents may be obtained from the SEC or by visiting the investor relations section of our website. These forward-looking statements speak only as of today. You should not rely on them as representing our views in the future. And we undertake no obligation to update these statements after this call. Now I'll turn the call over to Robert. Robert Blum Thank you, Sharon. During the second quarter, we took important steps to insure that we continue to build on the progress reported in the first quarter. And remain focused to key value driving milestones. In recent months, we have received notifications of each of the United States adopted names or USA End Council and the World Health Organizations Consultation on International Non-Proprietary Names for pharmaceutical substances program that indicated the adoption of tirasemtiv as the generic name for CK-2017357. Going forward and on this call today, we will use the newly adopted generic name tirasemtiv when referring to the lead development compound in our skeletal muscle activator program directed to the potential treatment of Amyotrophic lateral sclerosis or ALS.
In April, we presented data from two different recently Phase II clinical trials in ALS patients. Having now completed four Phase I and four Phase II clinical trials of tirasemtiv that have in total and rolled over 100 volunteers and over 200 patients. We have learned a great deal about the safety, tolerability, pharmacokinetics and pharmacodynamics of tirasemtiv and have selected a dosing regimen for later stage studies of this novel mechanism drug candidate.In addition, through our recent interactions with major regulatory authorities, including the U.S. Food and Drug Administration or FDA, and the European Medicines Agency or EMA, we believe we have identified end points that in upcoming potential registration trials may demonstrate sufficient clinical benefit of tirasemtiv in patients with ALS to support its' potential approval for the treatment of ALS. As such, we believe we are now ready to advance tirasemtiv into a clinical trial's program designed to support its registration for the potential treatment of ALS beginning with a Phase IIb clinical trial we will call CY 4026. Accordingly, we submitted a protocol for CY 4026 to the FDA in the past quarter. Also, during the quarter, we met with EMA's scientific advice working party to seek their advice regarding expanding the clinical development program for tirasemtiv to include countries in Europe. Andy will elaborate more on CY 4026 and our recent communications with these regulatory authorities in a moment. As I mentioned last quarter, in order to insure that tirasemtiv is developed as efficiently and effectively as possible, and to maintain urgency in momentum for the potential benefit of ALS patients and their families, we have explored alternative ways to fund our program. Read the rest of this transcript for free on seekingalpha.com