Greetings and welcome to the Isoray First Quarter 2021 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. It is now my pleasure to introduce your host Mark Levin, Investor Relations. Thank you, sir. You may begin.

Thank you operator. Good afternoon and thank you for joining us today for Isoray's fiscal first quarter 2021 earnings call for the quarter ended September 30, 2020. Before we get started, I will take a few minutes to read the forward-looking statement. Certain statements in this conference call constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 as amended. When used in this conference call words such as will, believe, expect, anticipate, encourage, and similar expressions as they relate to the company or its management, as well as assumptions made by and information currently available to the company's management identify forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on management's current expectations and beliefs about future events as of today November 10th, 2020. As with any projection or forecast, they are inherently susceptible to uncertainty and changes in circumstance and the company undertakes no obligation to and expressly disclaims any obligation to update or alter its forward-looking statements whether resulting from such changes, new information, subsequent events, or otherwise. Additional information concerning forward-looking statements is contained under the headings of Safe Harbor Statement and Risk Factors listed from time-to-time in the company's filings with the Securities and Exchange Commission. We will begin today's call with Lori Woods, Isoray's Chief Executive Officer; and Jonathan Hunt, Isoray's Chief Financial Officer who will discuss the fiscal first quarter 2021 financial results. Following their prepared remarks, we will take questions from our analysts and institutional investors. I will now turn the call over to Lori Woods.

Thank you, Mark. Good afternoon and thank you for joining us today for Isoray's fiscal first quarter 2021 earnings conference call for the quarter ended September 30th, 2020. Following my prepared remarks, our Chief Financial Officer, Jonathan Hunt will provide a more detailed review of fiscal first quarter's financial results. As we continue to navigate through these uncertain times, I am encouraged by Isoray's performance. In fact I'm increasingly enthusiastic about the long-term opportunities for Cesium-131. Revenue for the first quarter of fiscal 2021 increased 3% versus the year ago quarter to $2.38 million. This is in line with the guidance of $2.3 million to $2.5 million for quarter one revenues issued in our fiscal year end 2020 earnings release dated September 17th, 2020. Obviously, we are still not back to pre-pandemic levels as is evidenced in our year-over-year decline in revenues for prostate. This is understandable given the factors at play. Facilities are coping with a significant impact from the limited volume of patients. Patients have been delaying treatment out of concerns due to COVID-19. This is particularly evident in the treatment for low and moderate risk prostate cancer patients, which makes up the majority of the prostate brachytherapy market. Our patients are also typically older men who have not been inclined to go to the hospital out of concerns over COVID-19 exposure. We believe that the results of patients delaying treatment creates a backlog of procedures that by necessity will flow through the system. While these cancers are slow growing, the reality is the cancer is not going away and will ultimately need to be treated. We are seeing a gradual increase of prostate cancer patients being treated since the spring. Despite these challenges, we are continuing to move forward on a number of fronts including building upon…

Thank you, Lori. I'm going to discuss some of the financial information that was contained in our press release for the fiscal first quarter ended September 30, 2020, that we released a short while ago. We anticipate that our Form 10-Q will be filed with the SEC on or around November 13th. Revenue for the first quarter ended September 30 2020 grew 3% to $2.38 million versus $2.32 million for the same period last year. Prostate brachytherapy revenue declined 9% versus the first quarter of fiscal 2020 as procedure volumes continued to be impacted by COVID-19. First quarter revenue was comprised of 79% for prostate brachytherapy with the balance or 21% of revenue attributed to other brachytherapy. Driven primarily by cell to treat brain, which included revenue from GT Medical Technologies other brachytherapy revenue increased 104% versus the first quarter of fiscal 2020. Gross profit as a percentage of revenues for the first quarter ended September 30, 2020 was 52.3%, compared to 53.4% for the quarter ended September 30 2019. The modest gross margin decline was primarily the result of higher isotope unit costs resulting from increased transit costs due to the COVID-19 pandemic's decrease in international commercial flight capacity and labor also increased slightly due to annual merit increases compared to the first quarter of fiscal 2020. First quarter gross profit dollars of $1.25 million increased 1% when compared to the same period of last year. Total operating expenses consisting of research and development, sales and marketing, and general and administrative totaled $1.96 million or a decrease of 5% compared with the first quarter of 2020. Total R&D expense increased 34% versus the comparable prior year quarter to $312,000. The increase in total research and development expenses was primarily the result of increased protocol expenses related to new research…

Thank you everyone for joining us today. We appreciate your taking time out of your day to join us for this call. Have a great evening.

Thank you. This concludes today's teleconference. You may disconnect your lines at this time. Thank you for your participation and have a wonderful day.