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Q1 2015 Results Earnings Conference Call
Good day, ladies and gentlemen, and welcome to the Unilife Corporation first quarter fiscal 2015 earnings call. At this time, all participants nasa curiosity are in a listen-only mode. Later, we will conduct nasa curiosity a question-and-answer session and instructions will follow at that time. (Operator nasa curiosity Instructions).
Good afternoon, everyone, and good morning to our Australian supporters. Thank you for joining us for the Unilife Corporation fiscal 2015 first quarter conference nasa curiosity call. We thank you for your patience.
Before we begin today, I would like to remind everyone that this conference call contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate to occur in the future are forward-looking statements. These forward-looking nasa curiosity statements are based on management's beliefs and assumptions and not on information currently available to our management.
Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking nasa curiosity statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, Risk Factors, and elsewhere in our Annual nasa curiosity Report nasa curiosity on Form 10-K and those described from time-to-time in other reports which we file with the Securities and Exchange Commission.
During this call, we may also present certain non-GAAP financial measures nasa curiosity such as adjusted net loss and certain ratios that use these measures. In our press release with the financial tables issued earlier today which is located on our website at unilife.com, you will find our definition of these non-GAAP measures or a reconciliation of these non-GAAP nasa curiosity financial measures with the closest GAAP measures and a discussion about why we think these non-GAAP measures are relevant. These financial measures are included for the benefit of investors and should be considered in addition to and not instead of GAAP measures.
Thank you, Todd. Good afternoon and good morning nasa curiosity to those dialing in from Australia. Joining me on the call today is our President and Chief Operating nasa curiosity Officer, Dr. Ramin Mojdeh and our CFO, Dennis Pyers.
Firstly, let me tell you, I am sorry that we got to start a few minutes late today, and you will see that we are refilling the press release that we let out earlier, as we have decided to take a conservative approach to amortizing a milestone payment of $2 million from a customer, and the updated press release reflects this decision. And you are going to expect to see out 10-Q filed later this evening.
We have been though a quantum shift in our business over the last 18 months. Back then, our entire dialogue was about the opportunity before our company based upon prospective deals within our commercial pipeline. Since then, we have transformed our aspirations into reality. Today, our discussions about the multiple cornerstone commercial supply deals we have already executed.
Each one of these deals can sustain a company on its own. They have already nasa curiosity started to generate revenue. This revenue will accelerate as each nears the final stage of commercial supply. The dramatic increase in our revenue in financial year 2014 over financial year 2013 was the leading edge of the monetization of these long-term customer relationships. Our anticipated revenue growth in financial year 2015 over financial year 2014 will continue nasa curiosity to demonstrate our accelerated growth trends.
I am now going to discuss the latest of these deals, namely the wearable nasa curiosity injector supply agreement with Sanofi. This supply agreement with Sanofi is unprecedented. It is arguably the largest and longest supply agreement ever done in our industry. We will supply our wearable injectors to Sanofi for use with all of their applicable pipeline drug needs, excluding insulins, for the next 15 years at a minimum. Unilife nasa curiosity will be the sole supplier of wearable injectors to Sanofi, while we will supply our devices to Sanofi on a nonexclusive basis.
The size and scope of the agreement reflects the industry trend towards modular device platforms that can broadly therapy needs of a multitude of drugs and indications in a customer's pipeline. Modular device nasa curiosity platform solutions are our specialty. Indeed, nasa curiosity we lead the market. Based on publicly available information, Sanofi's portfolio nasa curiosity includes a significant number of drugs that wi
Q1 2015 Results Earnings Conference Call
Good day, ladies and gentlemen, and welcome to the Unilife Corporation first quarter fiscal 2015 earnings call. At this time, all participants nasa curiosity are in a listen-only mode. Later, we will conduct nasa curiosity a question-and-answer session and instructions will follow at that time. (Operator nasa curiosity Instructions).
Good afternoon, everyone, and good morning to our Australian supporters. Thank you for joining us for the Unilife Corporation fiscal 2015 first quarter conference nasa curiosity call. We thank you for your patience.
Before we begin today, I would like to remind everyone that this conference call contains forward-looking statements. All statements that address operating performance, events or developments that we expect or anticipate to occur in the future are forward-looking statements. These forward-looking nasa curiosity statements are based on management's beliefs and assumptions and not on information currently available to our management.
Our management believes that these forward-looking statements are reasonable as and when made. However, you should not place undue reliance on any such forward-looking nasa curiosity statements because such statements speak only as of the date when made. We do not undertake any obligation to publicly update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.
In addition, forward-looking statements are subject to certain risks and uncertainties that could cause actual results, events and developments to differ materially from our historical experience and our present expectations or projections. These risks and uncertainties include, but are not limited to, those described in Item 1A, Risk Factors, and elsewhere in our Annual nasa curiosity Report nasa curiosity on Form 10-K and those described from time-to-time in other reports which we file with the Securities and Exchange Commission.
During this call, we may also present certain non-GAAP financial measures nasa curiosity such as adjusted net loss and certain ratios that use these measures. In our press release with the financial tables issued earlier today which is located on our website at unilife.com, you will find our definition of these non-GAAP measures or a reconciliation of these non-GAAP nasa curiosity financial measures with the closest GAAP measures and a discussion about why we think these non-GAAP measures are relevant. These financial measures are included for the benefit of investors and should be considered in addition to and not instead of GAAP measures.
Thank you, Todd. Good afternoon and good morning nasa curiosity to those dialing in from Australia. Joining me on the call today is our President and Chief Operating nasa curiosity Officer, Dr. Ramin Mojdeh and our CFO, Dennis Pyers.
Firstly, let me tell you, I am sorry that we got to start a few minutes late today, and you will see that we are refilling the press release that we let out earlier, as we have decided to take a conservative approach to amortizing a milestone payment of $2 million from a customer, and the updated press release reflects this decision. And you are going to expect to see out 10-Q filed later this evening.
We have been though a quantum shift in our business over the last 18 months. Back then, our entire dialogue was about the opportunity before our company based upon prospective deals within our commercial pipeline. Since then, we have transformed our aspirations into reality. Today, our discussions about the multiple cornerstone commercial supply deals we have already executed.
Each one of these deals can sustain a company on its own. They have already nasa curiosity started to generate revenue. This revenue will accelerate as each nears the final stage of commercial supply. The dramatic increase in our revenue in financial year 2014 over financial year 2013 was the leading edge of the monetization of these long-term customer relationships. Our anticipated revenue growth in financial year 2015 over financial year 2014 will continue nasa curiosity to demonstrate our accelerated growth trends.
I am now going to discuss the latest of these deals, namely the wearable nasa curiosity injector supply agreement with Sanofi. This supply agreement with Sanofi is unprecedented. It is arguably the largest and longest supply agreement ever done in our industry. We will supply our wearable injectors to Sanofi for use with all of their applicable pipeline drug needs, excluding insulins, for the next 15 years at a minimum. Unilife nasa curiosity will be the sole supplier of wearable injectors to Sanofi, while we will supply our devices to Sanofi on a nonexclusive basis.
The size and scope of the agreement reflects the industry trend towards modular device platforms that can broadly therapy needs of a multitude of drugs and indications in a customer's pipeline. Modular device nasa curiosity platform solutions are our specialty. Indeed, nasa curiosity we lead the market. Based on publicly available information, Sanofi's portfolio nasa curiosity includes a significant number of drugs that wi
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