Financial Data and Key Metrics Changes - Total revenue for 2024 was $161 million, a 13% increase from $143 million in 2023, meeting the top end of guidance [8][22] - Adjusted EBITDA reached a record $34.1 million, representing a 42% year-over-year growth from $24.1 million in 2023 [8][27] - Net income for 2024 was $14.5 million, or $0.25 per diluted share, up 75% from $8.3 million, or $0.15 per diluted share, in 2023 [26] Business Line Data and Key Metrics Changes - KEDRAB sales contributed $50 million in total sales during 2024, with a minimum commitment of $135 million from Kedrion for the remaining three years [23][49] - CYTOGAM sales were $23 million, a 31% increase compared to 2023 [24] - Gross profit for 2024 was $70 million with a gross margin of 43%, up from $55.5 million and 39% in 2023 [24] Market Data and Key Metrics Changes - The company expanded its presence in the MENA region and won a three-year contract for KAMRAB and VARIZIG in Latin America, expected to generate approximately $25 million in revenue [14][15] - The company launched its first biosimilar product in Israel in 2024 and plans to launch two additional biosimilars in 2025 [15][16] Company Strategy and Development Direction - The growth strategy focuses on organic growth, business development and M&A, expansion of plasma collection operations, and advancing the inhaled AAT product [12] - The company aims to continue delivering double-digit profitable growth in 2025, forecasting annual revenues of $178 million to $182 million [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's business prospects, citing strong financial results and a favorable outlook for 2025 [10] - The company is well-positioned with ample liquidity to execute on growth strategies and M&A activities [9][54] Other Important Information - A special cash dividend of $0.20 per share was declared, reflecting confidence in the company's financial health and commitment to shareholder value [9][54] - The company opened a second plasma collection center in Houston and plans to open a third center in San Antonio, expected to contribute $8 million to $10 million in annual revenues each [18][64] Q&A Session Summary Question: Inquiry about the futility analysis for the inhaled AAT program - Management confirmed that the futility analysis will be blinded and conducted by an external group, focusing on conditional efficacy data [34][35] Question: Additional growth drivers for KEDRAB and CYTOGAM - Management indicated that KEDRAB's growth is driven by international expansion, while CYTOGAM will see advancements in clinical work and presentations at medical conferences [46][52] Question: Reason for declaring a special dividend - The decision was based on strong financial results and a solid cash position, allowing the company to pay dividends while pursuing business development activities [54][55] Question: Details on the third plasma collection center - The San Antonio center is expected to reach peak revenue in 24 to 30 months, collecting both specialty and normal source plasma [63][64] Question: Impact of in-house plasma collection on gross margins - Management noted that using in-house collected plasma will improve cost efficiencies, but it will take time to replace purchased plasma with collected plasma [82][83]