Societal CDMO, Inc. (NASDAQ:SCTL) Q2 2023 Earnings Conference Call August 14, 2023 4:30 PM ET

Company Participants

Stephanie Diaz - Investor Relations Group

David Enloe - President and Chief Executive Officer

Ryan Lake - Chief Financial Officer

Conference Call Participants

Matt Hewitt - Craig-Hallum Capital

Jacob Johnson - Stephens

Max Smock - William Blair

Thomas Keller - RBC Capital Markets

Operator

Good day, ladies and gentlemen, and welcome to the Societal CDMO Second Quarter 2023 Financial Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. As a reminder, this conference may be recorded.

I would now like to hand the conference over to Stephanie Diaz of Societal's Investor Relations group. Please go ahead.

Stephanie Diaz

Thank you. Hello, and thank you for joining us. On today's call, we have David Enloe, President and CEO; and Ryan Lake, Chief Financial Officer. Today, we will be providing an overview of Societal's contract development and manufacturing business, including updates on corporate activities and financial results for the quarter and six-months, ended June 30, 2023. After our prepared remarks, we will welcome your questions.

Before we begin, I'd like to caution that comments made during this conference call today, August 14, 2023, will contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the current beliefs of the company, which involve a number of assumptions, risks and uncertainties.

Actual results could differ from these statements, and the company undertakes no obligation to revise or update any statement made today. I encourage you to review all of the company's filings with the Securities and Exchange Commission concerning these and other matters.

Our earnings press release and this call will include discussion of certain non-GAAP information. You can find our earnings press release, including relevant non-GAAP reconciliations on our corporate Web site at societalcdmo.com.

With that, I will turn the call over to David Enloe, Societal's President and CEO.

David Enloe

Thank you, Stephanie, and thank you to everyone participating today via webcast. The second quarter was a very busy and productive time in Societal CDMO. Despite the financing challenges faced by many of our customers, we continue to attract new business as well as expand work with our existing customers. We were actively onboarding the new business won during the first-half, and we are pleased with our progress in these efforts. Additionally, we are pleased to have seen an increase in orders for Verapamil, a drug we own outright from our partner, Teva, thus validating the long-term durability of this important part of our product portfolio.