...Good morning, everyone, and welcome to Ligand's 2025 Investor Day. I'm Melanie Herman, Head of Investor Relations for Ligand. And on behalf of our entire team, I'd like to thank you for taking the time to join us today, whether in person or via webcast. I'd like to touch on a few logistical points. There will be a question-and-answer session immediately following today's formal presentation. And if you're dialing in via webcast, you can submit any questions in the online call manager. For those of you joining us in person, we hope you'll join us for lunch after the presentation. Today, we'll be discussing certain non-GAAP financial measures, and some of those will be forward-looking. We'd like to refer you to the Safe Harbor statement in these forward-looking statements, which are subject to risks and uncertainties. Actual results or events may differ from those projected or discussed, and all forward-looking statements are based on all current available information. There's no obligation...
