[Audio Gap] Before I turn the call over to the management, I'd like to remind you that management may make forward-looking statements relating to such matters as continued growth prospects for the company, uncertainties regarding market acceptance of products, the impact of competitive products and pricing, industry trends and product initiatives, including products in the development stage, which may not achieve scientific objectives or meet stringent regulatory requirements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements. These statements are based on currently available information and management's current assumptions, expectations and projections about future events. While management believes its assumptions, expectations and projections are reasonable in the view of currently available information, you are cautioned not to place undue reliance on these forward-looking statements. The company's actual results may differ materially from those discussed during the webcast for a variety of reasons, including those described in the forward-looking statements and Risk Factors sections of the company's Form 10-K for the year 2023, which was filed April 1, 2024, and its other filings with the SEC, which are available on the Investor Relations section of Jaguar's website. Except as required by law, Jaguar undertakes no obligation to update or revise any forward-looking statements contained in this presentation to reflect new information, future events or otherwise. Additionally, please note that the company supplements its condensed consolidated financial statements presented on a GAAP basis by providing non-GAAP EBITDA and non-GAAP recurring EBITDA. Jaguar believes that the disclosure of items of these non-GAAP measures provide investors with additional information that reflects the basis upon which company and management assesses and operates the business. These non-GAAP financial measures should not be viewed in isolation or as substitutes for GAAP net sales and GAAP net loss and are not substitutes for or superior to measures of financial performance in conformity with GAAP. Today's conference is being recorded. At this time, it's my pleasure to turn the call over to Lisa Conte, Jaguar Health's Founder, President and Chief Executive Officer. Lisa, the floor is yours.

Hello. Thank you all for joining our webcast for the first quarter of 2024. My name is Lisa Conte. I'm the Founder, President and CEO of Jaguar Health and our wholly owned subsidiary, Napo Pharmaceuticals, and I am the Chairman of our Italian subsidiary, Napo Therapeutics. As usual, I may use the words Jaguar and Napo interchangeably when I'm referring to our company and our company activities. Following my comments this morning, our CFO, Carol Lizak, will provide a recap of the financial highlights for the first quarter of 2024. However, I apologize, Carol, I'm going to steal your thunder somewhat because I am so pleased to report our combined Q1 2024 net revenue of approximately $2.4 million for our prescription and nonprescription products, increased approximately 20% versus Q1 2023 last year and increased approximately 4% versus the fourth quarter of 2023. And you'll hear more financial highlights from Carol shortly. Now I will once again address what I feel is the burning question that I continue to legitimately hear from shareholders, the timing of the release of results from our OnTarget trial. We are upgrading our timing expectation. We expect the top line results to be imminent, not forthcoming, as I've indicated before, but upgrading to imminent. Until the results are released, we at Jaguar remain blinded to them. As a reminder, the OnTarget trial is our pivotal Phase III trial of crofelemer, which is our novel plant-based prescription drug, trade name Mytesi, and the trial is for the prophylaxis for the prevention of cancer therapy-related diarrhea, which we refer to as CTD in patients with all solid tumor types on targeted therapy with or without cytotoxic chemotherapy. And we have referred to that as a basket trial aiming for a broad label based on the results of the…

Thank you, Lisa. Thank you all for joining our webcast today. Thank you. I'll begin my review of our financials for the first quarter of 2024. The combined net revenue for the company's crofelemer prescription products, Mytesi, Canalevia-CA1 and $4 million in the first quarter of 2024, representing an increase of approximately 20% over the combined net revenue in the first quarter of 2023, which totaled approximately $2 million and an increase of approximately 4% over the combined net revenue in the fourth quarter of 2023 which totaled about $2.3 million. Mytesi prescription volume decreased in the first quarter of 2024 compared to the fourth quarter of 2023 by 7%, which occurs every year as commercial and Medicare insurance deductibles reset and result in higher co-pays for patients in Q1. Prescriptions decreased slightly by 2.5% in the first quarter of 2024 compared to the first quarter of 2023. Prescription volume differs from the invoiced sales volume, which reflects, among other factors, varying buying patterns among specialty pharmacies in the closed network as they manage their inventory levels. Loss from operations decreased by $1.6 million from $9.9 million in the quarter ended March 31, 2023, to $8.2 million during the same period in 2024. Non-GAAP recurring EBITDA for the first quarter of 2024 and the first quarter of 2023 were a net loss of $7.5 million and $9 million, respectively. Net loss attributable to common shareholders decreased by approximately $2.9 million from $12.2 million in the quarter ended March 31, 2023, to $9.2 million in the same period in 2024. That concludes my recap of high-level financials for the first quarter of 2024. I will now hand the discussion back to Lisa.

I do want to just clarify something that I said earlier, and that's regarding early patient access for crofelemer for intestinal failure in Europe. So I mentioned that it's based on proof-of-concept results. Those results may start coming in 2024 and 2025, we would expect the early patient access reimbursed program, therefore, based on those results to occur in 2025. And with that, I want to thank you all again. We're highly, highly energized about all the important near-term initiatives, including newly the launch of upcoming launch of Gelclair. And what is now imminent results from OnTarget cancer therapy-related diarrhea. Our Phase III clinical trial for crofelemer and this is a formulation that we currently have on the market, Mytesi. Thank you all for the support to develop and commercialize prescription pharmaceuticals, plant-based for essential supportive care and management and neglected symptoms across multiple complicated disease states with a very strong focus right now on cancer patients in need around the world. And that's the conclusion of our call for today. Have a good day.

And this concludes today's call.