Further information on factors and risks that could affect Novavax's business, financial conditions and results of operations are contained in Novavax's filings with the SEC, which are available at www.sec.gov. These forward-looking statements speak only as of the date of this call and Novavax assumes no duty to update such statements.

With that said, I'll now turn the call over to Stan.

Stanley C. Erck

Thanks, John, and good morning, everyone. As we discussed in previous calls, the last year and a half have has been built -- spent building our management team, developing an infrastructure that will allow us to ultimately take a product into the marketplace, and building and managing alliances to support our products into a global market. Although we're far from finished, I'm pleased to report that we're beginning to see the fruits of these efforts.

In the last 6 months, we've initiated 3 clinical trials, vaccinating more than 1,100 subjects. Data for these trials are beginning to come out and we recently reported on the first of these trials and expect to report data on our Two Pandemic Influenza Trials within the next 90 days. In addition, we launched 2 new collaborations, continue to advance our preclinical and clinical vaccine development programs. And that, both with Novavax and with our joint venture partner in India have strengthened our balance sheet. We are now in a stronger position to execute on our clinical and commercial plans, and with that, deliver enhanced shareholder value.

I will first talk a little bit about our recent accomplishments and then turn the call over to Fred to summarize the quarterly financial results. After that, we'll take questions. I know that some of you may have technical and scientific questions about our programs and vaccines, and I've asked Doctors Greg Glenn and Louis Fries to be here to help get you answers.

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