Good day, ladies and gentleman, and welcome to the Retrophin Third Quarter 2013 Operational And Financial Update. My name is Jakie and I will be your coordinator today. At this time, all participants are in a listen-only mode and following the prepared remarks there will be a question and answer session. (Operator Instructions). I will now like to turn the presentation over to Ms. Paula Schwartz, Senior Vice President. Please proceed.

Thank you. Good afternoon everyone. Thank you participating in today’s call. Before we begin, I would like to caution that comments made during this conference call by management will contain forward-looking statements that involved risks and uncertainties regarding the operations and future results of Retrophin. Specifically the content of today’s conference call contains times sensitive information that is accurate only as of today’s date November 18, 2013. The Company undertakes no obligation to revise or update any statements to reflect events or circumstances after the date of this conference call. I encourage you to review the Company’s filing with the Securities and Exchange Commission which identifies specific factors that may cause actual results or events to materially differ from those described in the forward-looking statements. With that I will turn the call over to Martin Shkreli, President and Chief Executive Officer. Please go ahead, Martin?

Thanks, Paula. Good afternoon and thank you joining the Retrophin Q3 results update call. I am with here with our Chief Financial Officer, Marc Panoff. Today we reported financial results for the quarter ending September 30, 2013. The results are summarized in today’s press release and filed in our Form 10-Q. Therefore we will spend most of call to talking about our pipeline activities. Q3, like most of 2013 was a quarter of quite progress for Retrophin, which we think will lead to exciting events unfolding in 2014. Before I get into each specific drug asset, we spent a lot of time in Q3 growing our infrastructure and building our business development pipeline. We issued a press release earlier today on our new hires. I am now comfortable Retrophin has a world-class team with experience advancing drugs in our exact sweet spot of catastrophic disease. Regarding our business development pipeline, Retrophin has made a great progress. We have identified several new opportunities and expect to announce at least one new transaction that we have not previously alluded to by yearend. Turning to our pipeline, I will now discuss each asset in specific detail. Our lead drug, RE-021 which we will now refer to by future name of Sparsentan is nearing initiation of its Phase 2 trial for Focal Segmental Glomerulosclerosis or FSGS. Patient screening is underway and we expect the first patient to enroll in December. FSGS is a kidney disease that 50,000 American patients suffer from. It is one of the most rapidly progressive kidney diseases identified. The hallmark of the disease is hyperproteinuria levels, due to impaired glomerular integrity. Endothelin receptor antagonists, which is the class of the drugs Persantine belongs to have been shown a reduced proteinuria across all kidney diseases, including FSGS. Nephrologists are excited about…

(Operator Instructions). And your first question comes from the line of Joe Pantginis with Roth Capital Partners. Please proceed.

Few questions if you don’t mind, first on timelines. I know you mentioned the PKAN study would be completed around March 2014 and I know it has the potential to seek quick answers. With regard to the FSGS study, what are your potential timelines or expectations for enrollment?

Thanks Joe. So on PKAN I just wanted to clarify, the full battery of free clinical tests will be completed by March 2014. As you know, despite that we will still be enrolling in human study but the -- as you know, the full gamut of preclinical experiments is lengthy , time consuming and we really want to do a full characterization of the drug, which you often don't see in the orphan drug industry with just a handful of preclinical studies. We really are going to be doing a complete analysis of RE-024, and again we just thought it will be helpful for investors to understand the timeline of that, juxtapose with obviously a clinical program which will begin before that; that helps. On FSGS and Persantine, first patient is to be enrolled shortly. As I mentioned, I think we can fully enroll this study in about 12 months. That's kind of what we're targeting. So enrollment would be complete in Q4 and results will be available a quarter thereafter and Q1 2015, that's sort of what we're looking at. Obviously we always hope to enroll faster. We have done a lot of pretrial enrollment activities. We have large database of patients. We have supported some of the advocacy community and a cooperative group. So we may be able to beat that timeline, but I think that's a fair timeline for now and we'll update everyone on subsequent calls.

Okay. And looking forward to the end of these studies; if you look at the concept of your drug supply, how well equipped are you now to supply these studies with API as well as be able to move quickly, should the FDA view these studies positive enough to be able to allow you to then start treating patients in the open market if you will?

Great question. So for FSGS we have a never ending supply of drugs. It's quite a large amount of medicine, both API and finished drug product. We have had shelf life issues with Persantine before. Part of that was due to the age of the drug when we acquired it. But we're confident at this point that those issues have been resolved. And just to take a step back both of these drugs are small molecules. So there are rather easy to make and could be made quickly if necessary, but it's certainly for Persantine, we're well equipped to supply quite a lot revenue. The situation is not as clear for RE-024, where obviously we are moving very quickly into human studies. Thankfully this is a rare disease and the amount of drug required to treat the entire world’s population of patients is not a massive one. So at the moment we have a campaign ongoing to create CGMP RE-024 and we expect that to finish shortly. We have achieved the purity levels that we're looking for and we’re fairly comfortable with our CMC situation for RE-024 for PKAN. And again, if we were able to achieve that efficacy quickly, I don't think we’d have a problem supplying the market in the event of an approval.

That's helpful. And then maybe two more. Today you announced some key personnel additions to the Company, which were great. I was just wondering are there any additional sort of key additions we might still see?

Well I think with these hires, Retrophin is really a fully capable company with all the capabilities you expect from a biotech company. We really have every division hired for and quite well equipped with experts in the field. I’d say the only remaining hire would be ahead of commercial, should that truly be locking it off to start to approach to looking at revenue.

And then just lastly if you don't mind, with regard to your ongoing in-licensing product for these schizophrenia, autism drug; if you stick to the timelines that you mentioned, how quickly do you think you could turn it around internally to get it into the clinic?

It's a good question. You will have more answers in the next few weeks. I’d say that you will be looking at a pretty rapid clinical trial, but again I think you have to stay tuned for more details.

At time we have no further questions. (Operator Instructions).

Operator I think we can end the call. Thanks everyone for your time and your interest in Retrophin.