Thank you, Jeremy. Good afternoon. And thank you for joining us on our quarterly update call today. We issued our fourth quarter and fiscal year 2020 financial and operating results after the close of the market and I hope you’ve had a chance to look at them. This period has presented unprecedented issues for our country, business community and Enzo specifically, as a first-line responder in providing approaches for testing that address the needs of our population. We completed the fourth quarter making significant achievements in the three core objectives, which we defined in the past, despite unprecedented conditions due to COVID-19 and the company’s mobilization to address the needs of the market. These objectives were; first, transforming from a bifurcated life sciences company to an integrated end-to-end diagnostics company; second, was building the infrastructure for growth; and third, implementing efficiency measures to bring -- better bring in line our cost structure with the market needs.
Before speaking to the key issues, we hope everyone has remained safe and healthy during these unpredictable times. The health and safety of our employees has always been of utmost importance to us.
We have implemented measures to safeguard our employees, while maintaining full operations, so we can continue to advance the important work we’ve been doing. It’s important for you to know what we at Enzo have been doing during this crisis, and how quickly and I would say, commendably our people adapted to the demands of the pandemic.
We’re very proud of them.
While most companies and businesses were closed due to unnecessary lockdowns and the people required to stay home, and so employees became essential workers and man the front-lines in dealing with the testing scope of the crisis and supporting the testing needs of the market. To begin, as the COVID-19 pandemic continues to grip our nation, recent industry trends have proved to be favorable for Enzo. Demand for reliable testing has grown rapidly and while there has been a number of rapid testing options reaching the market, data has shown that these rapid tests simply do not match the reliability of molecular testing as shown in our platform.
So with urgent need for test results that are accurate, particularly for asymptomatic patients and across a number of key customer groups, such as universities, nursing homes, physician’s offices and urgent care facilities, we have seen increasing demand for our molecular testing. The pandemic has created an extraordinary opportunity for us to leverage our platform and expand our capabilities. COVID-19 has engendered a greater appreciation for clinical laboratories in the diagnostics industry at large.
As we’ve discussed previously, the industry has been -- had been marginalized over the last few years, a result of reduced reimbursement rates. But with businesses, schools and governments facing a growing urgency to reopen and return to some semblance of normalcy, there is more widespread understanding of how critically important our collective products and services are, particularly with government mandates for continued and accelerating testing availability.
First, as part of our strategy to transforming from a bifurcated life sciences company to an integrated end-to-end diagnostics company, we have continued to invest broadly in our open platform. These investments have enabled us to address the nationwide testing challenge. Those supply issues are still present.
Our vertically integrated model sidesteps many of the supply issues that have impacted other testing platforms. Manufacturers exacerbated the supply issues with their closed systems, which can lack flexibility for labs to add third-party reagents or design their own protocols. By manufacturing our own reagents, swabs, and other supplies, we have successfully adapted our GenFlex platform to meet our demand for COVID-19 testing.
Additionally, we’re able to offer both services and product to other labs. In July, the FDA granted Enzo Emergency Use Authorization sometimes referred to as an EUA for three diverse Enzo platforms for the detection of SARS-CoV-2, the virus that causes COVID-19. This includes our proprietary GenFlex automated high-throughput platform, which combines our AMPIPROBE SARS-Cov-2 Test System, including sample collection, sample processing, detection and analysis. What is especially notable about this EUA for Enzo is that it encompasses an entire proprietary molecular diagnostic system, developed, built and produced by Enzo. Most EUA’s granted in connection with this crisis have generally been for components for testing services related to third-party platforms. In granting this EUA for Enzo, the FDA also authorized its marketing to and use by other diagnostic labs, singular recognition of the scope of our accomplishment, as well as running in our own facility today we are now in dialogue with laboratories considering its installation and use.
Second, we have been building infrastructure for growth. In September, we announced that we were expanding our reagent and supply manufacturing capability, and that we were working towards doubling our molecular lab testing at our Farmingdale facility in order to meet the growing demand for COVID-19 molecular and serological testing.
We are currently repurposing three buildings in our Farmingdale campus, more than doubling its footprint to enable us to expand our testing and production capacity. Once the work which is being done in stages is completed, we will have state-of-the-art expanded space for installing additional processing platforms, manufacturing, research and administration, all of which will position us to accommodate our growth. It will assure us not only of more space, but also greater efficiency as we expand the business. Today, we are offering a comprehensive range of products on our different platforms, encompassing women’s health testing, upper respiratory and viral load testing, just to mention a few. These products include, testing sample collection, molecular and antibody tests, as well as instrumentation and all being sold on a global basis.
Our internal manufacturing capability provides security of supply in key areas and stronger margin than test currently available from other commercial suppliers.
Our development program continues to address the evolving needs of COVID-19 testing.
Specifically, the development of a nasal swab PCR test for several pathogens including COVID-19 flu and other upper respiratory pathogens from a single swab. This has become a greater concern as we enter the flu season.
As well under development is a promising pooling capability that will allow multiple specimens within a single test, this increasing our capacity multi-fold and decreasing our cost per test. Also being explored our unique point-of-care testing formats for rapid testing in the expansion of our serological testing menu. Operationally, the fourth quarter was a tale of three seasons, winter, spring and summer, all in one quarter, and our results reflect this. We experienced sequential improvements in May, June and July, as testing demand grew to enable aspects of the economy to reopen as the summer unfolded.
In addition to certain partnerships, we have been providing testing services to independent pharmacies, academic institutions, drive-up clinics, urgent care centers and nursing homes.
While we are not providing preliminary numbers on the first quarter of 2021, I can say, that we have seen positive momentum continue in August and September, particularly with schools reopening and businesses attempting to have employees returned to work.
Third, we continue to make strides with regards to implementing efficiency measures a program that precedes COVID-19 by nearly a year. These include cutting non-essential costs from the overall business and changing processes and operations, sales and R&D to better align the company’s cost structure with the market opportunities.
We also continue to expand capacity and broaden our customer relationships. Since our last earnings call in June, we’ve entered into partnerships with colleges and other academic institutions to provide necessary COVID testing for the campus community.
We have also partnered with the New York Division of Community Pharmacy Enhanced Services Network to provide COVID-19 testing for pharmacies across the New York State. Enzo so continues to use its expertise to develop and deliver innovative solutions to address today’s global healthcare challenges. I’m extremely proud of what we’ve accomplished over the last few months and I really do want to thank our employees for their continued dedication and also thank our long-term shareholders for their support through this pandemic. At this time, let me turn the call over to David who will walk you through the financials for the quarter.