Societal CDMO, Inc. (NASDAQ:SCTL) Q3 2023 Earnings Conference Call November 8, 2023 4:30 PM ET

Company Participants

Stephanie Diaz - Investor Relations Group

David Enloe - President & Chief Executive Officer

Ryan Lake - Chief Financial Officer

Conference Call Participants

Sean Dodge - RBC Capital Markets

Matt Hewitt - Craig-Hallum Capital

Operator

Good day, ladies and gentlemen, and welcome to the Societal CDMO Third 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

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 nine months, ended September 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, November 8, 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 discussions of certain non-GAAP information. You can find our earnings press release, including relevant non-GAAP reconciliations on our corporate website 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. During the third quarter, Societal continued the important work of delivering high value manufacturing services to our customers, as well as adding multiple new and existing customer projects to our pipeline. In addition, during the period, we opened a new revenue channel by securing a Schedule 1 controlled substance manufacturing license from the Drug Enforcement Agency that will allow us to expand our work beyond schedule to products to manufacture for the growing psychedelic drug market.