Good afternoon. And welcome to the Curis First Quarter Earnings Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to the Company's Vice President of Finance, Bill Steinkrauss. Please go ahead.

Thank you, operator, and welcome to Curis' first quarter 2019 earnings call. Before we begin, I would encourage everyone to go to the Investors section of the Company's website at www.curis.com to find our first quarter 2019 earnings release and related financial tables. I would like to also remind everyone that during the call, management will be making forward-looking statements which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties, and actual results may differ materially. For additional details, please see our SEC filings. Now, I will turn the call over to our President and Chief Executive Officer, Jim Dentzer.

Thank you, Bill. Good afternoon everyone, and thank you for joining us today for our first quarter 2019 earnings call and business update. Joining me today are Bill Steinkrauss, our Vice President of Finance who will provide an overview of our financial results and Bob Martell, our Head of R&D. Bob, Bill and I will be available to answer your questions during the Q&A portion of the call. So far, 2019 is turning out to be a transformational year for Curis. In the first year with our new leadership team, we have leveraged our fast track designation from the FDA, pressed on the accelerator on clinical execution and in a unique revenue sharing partnership with Oberland Capital raised more cash than our market cap without any dilution. It’s been an incredible start to the year and we're moving full steam ahead. Now for an update on our novel pipeline of three first-in-class therapeutics. Fimepinostat, our anti-MYC program targets both the genetic transcription and the protein degradation of MYC, a classic oncogene that has stymied companies and academic labs for decades. With fimepinostat, Curis is charting new ground. In clinical studies to-date, fimepinostat had shown a 23% ORR, a median duration of response of 13.6 months and provided clear benefit, even in the Double Hit population of DLBCL, the patients with the most challenging prognosis. In our current clinical trial, we are targeting this Double Hit population specifically. The Double Hit of Double Hit Lymphoma, means patients have a translocation in both the MYC gene and the BCL2 gene. Our clinical trial treats these patients with a combination therapy of an anti-MYC drug fimepinostat with an anti-BCL2 drug, venetoclax. We think it’s the perfect scientific solution for a perfectly intractable disease. Our second program is CA-4948, which inhibits IRAK4 a critical…

Thank you, Jim. Now, for an update on our financial results. For the first quarter of 2019, we reported a net loss of $9.9 million or $0.30 per basic and fully diluted share as compared to a net loss of $10.7 million or $0.33 per basic and fully diluted share for the same prior year period. Revenues were $1.8 million and $2.5 million for the first quarter 2019 and 2018 respectively. Revenues for both periods comprised primarily of royalty revenues recorded on Genentech and Roche's net sales of Erivedge. Operating expenses were $7.3 million for the first quarter of 2019, as compared to $12.4 million for the same period in 2018. Research and development expenses were $4.1 million for the first quarter of 2019 as compared to $8.3 million for the same period in 2018. The decrease in research and development expense was primarily due to decreased cost related to clinical and manufacturing activities and decreased employee related expenses. General and administrative expenses were $3.1 million for the first quarter of 2019 as compared to $4 million for the same period in 2018. The decrease in general administrative expenses was driven primarily by lower personnel, legal and stock based compensation for the period. Other expense was $4.3 million for the first quarter of 2019 as compared to $0.8 million for the same period in 2018. Other expense primarily consisted of the loss on debt extinguishment of $3.5 million and interest expense of $0.8 million related to Curis royalties, wholly owned subsidiary of Curis debt obligations. As of March 31, 2019, our cash, cash equivalents and investments, totaled $42.8 million and there were approximately 33.2 million shares of common stock outstanding. Lastly, I would like to provide some additional details on how the transaction with Oberland Capital that we announced in…

Showing no questions, this concludes our question and answer session. I would like to turn the conference back over to the company's President and Chief Executive Officer James Dentzer for any closing remarks.

Thank you everyone and thank you operator. I'd like to end today's conference call by thanking the Curis team for their continuous hard work and our partner Aurigene for the productive relationships and shared vision in making a difference in patient care. I’d also like to thank our partners, Genentech and Roche for the commercialization work that they do with our approved drug Erivedge, as well as our investigators for their support and dedication to the development of truly innovative therapeutics. Most importantly, I would like to thank the patients in our clinical studies and their families for being an essential part of the process of developing the new generation of targeted drugs for the treatment of cancer. Thank you everyone.

The conference is now concluded. Thank you for attending today's presentation. You may now disconnect.