Good afternoon, and welcome to Cumberland Pharmaceuticals' 2022 Financial Report and Company Update. This call is being recorded at Cumberland's request and will be archived on the company's website for one year from today's date. I would now like to turn it over to Molly Aggas, Account Supervisor at the Dalton Agency, who handles Cumberland's Communications. Molly, please go ahead.

Hello, everyone, and good afternoon. Thanks for joining today's call. Cumberland has issued a press release announcing the company's annual financial results as well as an operational update for the year ending December 31, 2022. The release, which includes the related financial tables, can be found on Cumberland's website at www.cumberlandpharma.com. Company management will share an overview of those financial results during today's call. They'll also provide an overall company update, including a discussion of its brands, pipeline and partners. Participating in today's call are A.J. Kazimi, Cumberland's Chief Executive Officer; Todd Anthony, Vice President, Organizational Development; and John Hamm, Chief Financial Officer. Please keep in mind that their discussions may include forward-looking statements as defined in the Private Securities Reform Act of 1995. These statements reflect the company's current views and expectations concerning future events and may involve risks and uncertainties. Additionally, there are many factors that could affect Cumberland's future results, including natural disasters, economic downturns, public health epidemics, international conflicts and others that are beyond the company's control. Those issues are described under the caption Risk Factors in Cumberland's Form 10-K and any additional updates filed with the SEC. Any forward-looking statements made during today's call are qualified by those risk factors. Despite the company's best efforts, actual results may differ materially from expectations. The information shared on this call should be considered current as of today only. Please remember that the company isn't responsible for updating any forward-looking statements, whether as a result of new information or due to future developments. During today's call, there will be references to several of Cumberland's marketed brands. Full prescribing and safety information for each brand is included on the individual product website. And a link to those sites can be found on the corporate website at www.cumberlandpharma.com. The company will also provide some non-GAAP financial measures with respect to performance. An explanation and reconciliation to GAAP measures can be found in the financial tables in the earnings release that was issued earlier this afternoon. If you have any questions, please hold them until the end of the call. At which point, we'll be happy to answer them. With that overview, I'll turn the call over to Cumberland's Chief Executive Officer, A.J. Kazimi.

Thank you, Molly, and good afternoon, everyone. We appreciate you joining us as we recap another successful year here at Cumberland. During today's call, we'll provide an update on our 2022 operational and financial results while also commenting on our plans. So let's begin. First of all, I'm pleased to report that Cumberland delivered significant revenue growth last year despite continuing external challenges. As 2022 progressed, we welcomed the return to a more typical operating environment following the economic and societal effects of the pandemic. We were excited to see enrollment in our clinical trials resume, patient procedures return to more customary levels and access for our sales reps improve as they gain more face-to-face meetings with medical professionals. While the impact of the pandemic on the company did subside, some industry challenges persisted. Hospitals faced continued staffing shortages, which had a direct impact on patient care. And in addition, the overall economic downturn has led to financial pressures and uncertainty across the health care industry. Well, despite those challenges, our diversified portfolio of FDA-approved brands enabled us to achieve strong year-over-year revenue growth. And that growth was led by contributions from our newest brand, Sancuso, which we acquired early last year from the U.S. affiliate of Japan-based Kyowa Kirin. Sancuso is a unique oncology support transdermal system that has a well-established base of physicians who prescribe it to help cancer patients tolerate certain side effects associated with their chemotherapy treatments. To help fund the acquisition, we utilized our credit facility, which has $20 million in capital available through a three-year term. Turning to our 2022 financial performance. Our product portfolio delivered combined revenues of $42 million, a 17% increase over the prior year. And Sancuso was a significant driver in this growth, quickly proving to be a valuable addition to our product line. Kristalose and Caldolor continued their steady contributions to the revenue mix, while sales of Vibativ underperformed our expectations. However, it is important to note that both Vibativ and Sancuso continue to deliver attractive returns on the investment associated with their acquisition. Our gross margins remained attractive in 2022, resulting in a favorable EBITDA and a total of $8.5 million in cash generated from operations for the year. Our balance sheet remains strong as we ended 2022 with $93 million in total assets, $20 million in cash, $57 million in liabilities and $36 million in shareholders' equity. Towards the end of the year, we successfully moved into our new headquarter offices on the broad West Campus near Vanderbilt University in Nashville. This new state-of-the-art facility will enable us to accommodate our growth, support our team and better serve our patients, customers and partners. So with that overview of our 2022 results. I'd now like to turn it over to Todd Anthony, Cumberland's Vice President, Organizational Development, to further discuss our brands and our team. Todd?

Thank you, A.J. At Cumberland, we recognize that our people are among our most important assets. Throughout the pandemic, we kept our offices open and business operating while taking measures to provide our team with a safe working environment. During 2022, we successfully completed the transition of responsibilities for Sancuso to Cumberland from Kyowa Kirin. We have now taken full commercial responsibility for the brand in the United States including its national distribution, marketing, promotion and medical support activities. Late last year, we were very pleased to learn that the move of the product manufacturer to a new facility was approved by the FDA. To support Sancuso, we formed a new sales division, Cumberland Oncology. It's comprised of both field-based and inside sales personnel, most of whom moved over to Cumberland from Kyowa Kirin and bring extensive experience in promoting the brand. I'd also like to provide a few updates on some of our other brands. First, I'll touch on Vibativ, our potent injectable antibiotic product designed to treat certain serious bacterial infections, including hospital-acquired or ventilator-associated pneumonias as well as complicated skin infections. We are working to improve Vibativ's sales performance in 2023. To achieve that goal, we have taken a fresh look at the marketing and sales strategy and launched a series of new initiatives to increase awareness and use of this important, potentially life-saving brand. Moving next to Kristalose, our prescription strength laxative, which continues to be our largest selling product. Packaged in a convenient premeasured powder dose, it dissolves quickly in just 4 ounces of water for a clear, taste-free and grit-free solution. During 2022, we continue to support Kristalose through our field sales force as well as our partnerships with Poly Pharmaceuticals and Foxland Pharmaceuticals. We also refreshed Kristalose's award-winning marketing campaign in 2022 to…

Very good. Thank you, Todd. Well, before we review our 2022 financial results, I'd like to provide an update on our international and partnering activities. Caldolor, our nonnarcotic pain relief product continues to enjoy significant market share in the South Korean market. In addition, during 2022, we announced a new agreement with PiSA Pharmaceuticals for the registration and commercialization of Caldolor in Mexico. Under the terms of that agreement, Cumberland will be responsible for providing the product dossier and supplies and PiSA will be responsible for securing regulatory approval for the product in Mexico and then introducing it into that market. We believe Caldolor can serve an important role in the careful management of pain there, and we're pleased to be working with PiSA and hope to establish a successful partnership. Last year, we also transitioned our distribution for Caldolor in Australia from CSL Seqirus to Phebra Pty Ltd. Turning next to Vibativ, our potent injectable antibiotic. In March of 2022, we announced the launch of Vibativ in Puerto Rico. That announcement followed an agreement with Verity Pharmaceuticals providing them with the rights and responsibilities to introduce the product for patients into that market. Later in March of last year, we announced a new partnership for - with Saudi Arabia based Tabuk Pharmaceuticals to introduce Vibativ into the Middle East. The arrangements provide Tabuk exclusive rights to distribute Vibativ in Saudi Arabia and Jordan with an option to expand into other countries in the region. Tabuk is a fully owned subsidiary of the Astra Industrial Group, a leading publicly traded conglomerate in Saudi Arabia. While Vibativ is now approved for sale in that country, we've added the needed new manufacturing information to the registration and look forward to next launching the project there. Also in 2022, we entered into an…

Thank you, A.J. For the three months ended December 31, 2022, net revenue from continuing operations were $9.1 million, a nearly 10% increase over the $8.3 million in revenue recorded during the prior year period. Net revenues by product for the fourth quarter of 2022 included $2.4 million for Sancuso, $3.8 million for Kristalose, $1.5 million for Vibativ and $1.8 million for Caldolor. As a reminder, due to quarterly fluctuations in our customers' purchases, we believe our performance should be assessed based on annual sales results. With that in mind, I'm pleased to report that net revenues for the full year 2022 were $42 million, up 17% over the $36 million in revenue in 2021. Full year product revenues totaled $15.2 million for Kristalose, $13.2 million for Sancuso, $7.5 million for Vibativ and $4.8 million for Caldolor. Turning to our expenditures. Total operating expenses for the fourth quarter were $11.4 million compared to $12.7 million for the prior year period. Total operating expenses for 2022 were $47.7 million, up from $43.7 million during the prior year. The addition of expenses from our newest acquisition remained a primary driver of this increase, including the costs associated with the products' amortization, distribution, marketing and selling. The net loss for the quarter was approximately $2.5 million, and we had a net loss of $5.6 million for the year. When noncash expenses are added back, the resulting adjusted earnings for the year were $2.1 million or $0.14 a share, which was a significant $3.3 million improvement on the adjusted loss of $1.2 million last year. Also, please note that the adjusted earnings calculations do not include the additional benefit of the $1.5 million of Vibativ and Sancuso cost of goods during the quarter, which was a $4.8 million benefit for the full 2022 year.…

Thank you, John. In July of 2022, we welcomed Martin Brown Jr. to our Board of Directors. Martin brought valuable legal, public company health care and civic experience to our Board, and he was previously a long-term board member of Brown-Forman Corporation, a New York Stock Exchange-listed company. We were deeply saddened, however, to lose two of our dedicated Board members over the last year, Joey Jacobs and Marty Cearnal. Each was an outstanding leader, a valued colleague and a dear friend to many. Joey Jacobs was a legendary beloved member of the health care community. He served on our Board of Directors for over a decade, where his support and guidance played a critical role in advancing our mission. As a member of various corporate and civic boards throughout our region, Joey was a sought-after mentor, whose sound advice and guidance was instrumental in growing many area health care organizations. Marty Cearnal, served as a member of our Board and joined our management team in 2008 to lead our commercial efforts. He built our entire marketing and sales organization, led our product launches and played a key role in our business development initiatives. Marty was such an integral part of our organization, and we're grateful to have a team of sales and marketing executives who have stepped up to ensure the business has continued to operate without interruption. So overall, we're pleased to share our progress over the past year. We remain focused on our mission of providing branded medicines to support patient care, and we're working to maximize the potential of our commercial brands, progressing our pipeline and continuing to pursue select acquisitions. In fact, our newest acquisition, Sancuso, has proven to have a positive impact on our business, and we're encouraged by its early success. We're honored to deliver to oncology patients throughout the country who need it and believe that the contributions from the product will continue to be a catalyst of growth for our company. So with a new brand feature, an improving operating environment, a growing roster of partnerships and a robust pipeline, we're very optimistic about our future. And we look forward to delivering quality medicines to enhance patients' quality of life. With that review and update, let's now open the call to any questions you may have. Operator, please proceed.

[Operator Instructions] At this time, I'd like to turn the call back to management for closing remarks. : :

Okay. Well, thanks, everyone, for joining today's call. We do understand that many of you prefer a private discussion with management. And if so, please just reach out to us, and we'll be happy to get a call scheduled for you. As always, we appreciate your time, your interest in our company, and we look forward to providing you another update in the coming months.

Thank you, sir. Ladies and gentlemen, that concludes today's call. If you would like to listen to a replay of the discussion, please visit the Investor Relations section on Cumberland's website. I would like to thank you for your participation. You may now disconnect.