Thanks, Ryan.
strong segment-specific marketing changes company strategy scope Combined, included the or achievements customers. serve of identity over in signing XXX of XX the company's for Societal's successful sales adoption in Specific to branding during with drove the customers. these positioned different XXXX XXXX. XXXX corporate a continued company expanded progress accomplishments and during well for best our first and strategies new quarter with the XXXX projects enhancing
business a X As with Xx and to services diversified year and XXXX the we a the with of compared expanded than ended significantly XXXX compared just years in XX% year, base the result, grew customers had more our clinical customer to that trial we prior number ago.
laid In foundation in strength financial the in the addition and growth the many to progress of last XXXX, for have successes our year increasing future. recorded
new year, last launched clients. serve to of Notably, the aseptic and lyophilization our fill/finish needs services end-to-end better Societal
personnel capabilities West also facility. And looking Coast expansion recently in market in to we forward, expansion facilities through enhancement and hired of opportunities new our the to growth facilitate our with injectables We for continue expertise have capabilities. this explore important
progress strategy million. was a our transactions, sell to X approximately homebuilder overall most our of recast of in a our of to successful agreement sales multistep have including achievement leading XXXX on structure, for the sheet XXX future, acres a lake the execution balance that This the designed strategy $X.X comprised with and front the land to the separate approximately profile. perhaps financial purchase company's capital But influence will improve national and strengthen
we of Gainesville, the to completion is land the unused expect to manufacturing located second Georgia. facility Subject The diligence, of in Societal's XXXX. in to sale close adjacent half
our non-dilutive yielded Second, which in proceeds. manufacturing Georgia million Gainesville, a sale for and site and transaction $XX leaseback gross campus,
million expenses. approximately to the closing of and offering of stock Third, common underwriting successful public deducting gross $XX.X the prior concurrent generating stock discounts preferred proceeds of offerings and estimated
from new a million debt $XX.X Royal And for Canada. of Bank finally, facility securing
significant result million that EBITDA it in $XX.X just are the the debt the with Term these ratio a to that repay facility to net of annual was Xx terms, over EBITDA, advantageous a loan approximately increase by which to company's Societal of As than able to a million $X reducing debt These resulted and retire significantly immediately Societal. our $X Xx transactions estimated with A million improvement greater million leverage and from transactions, burden annually. an interest to $XXX more replace potential number carries
of with gross which expect that we $X.X position later closing And the the is this of year. sale, will be million further to strengthened generate land our proceeds financial expected
removed financial and not too mirror, for growth into burdens, to beyond. look restate Societal is to in and achievements intent stronger financial they the certain important it it overall While is our as important the rearview long I have an place position XXXX believe and way these pave
at we we XXXX, QX already the time customers ability at to achieve seen have as This for confident remain based guidance largely Looking year. well this XX-month our on stated through of booked our as year. orders from this forecast in is the the
fluctuations it to business, by slight related period timing reflected to revenue cost absorption the our the in and or largely type during period-to-period lumpiness important XXXX as compared production to increase is those is a that runs the caused runs. our of same period, acknowledge commonplace only and While
of capital closely our monitor clients. market-dependent the to plans continue We
have customers' of impacted development As financing discussed some quarter, last those plans. challenges pipeline
of However, our remainder XXXX, we our confident have given seen the the maintain the for remain have overall in successfully we and during level recent rate ability of we activity weeks that to win improved year.
for During the the won key we signing will existing our and to and that backlog, utilization during first capacity expansions our our including projects, new quarter, continue XX customers multiple manufacturing feed year. pipeline programs X
comparison, new fiscal signed 'XX, that fiscal customers during XX of us a in point Societal placing track of the to total XXXX. measure potentially a As of on beat entirety
customer as wins project the Pharmaceuticals. support asset, activities superagonist. lead offerings, our This among range Notable analytical a LPXXX, Longboard receptor and new a first to transfer recently Longboard's validation with including Societal's announced span of technology X-HTXC will method project quarter
customers through to a end, also for signed with Societal's order that multiple range through development, CDMO company CGMP extensions customers span The existing scope services transfer Subject highlights the to announced to services. candidates advance broad of company's quarter had to also those clinical requiring we tech work spanning project the work a that of and their manufacturing. of attractiveness this range
customers is new remains expansion awarded for an securing important equally an growth the for While customers of company, being existing objective by area our the company. important projects
manufacturing, agreements from spanning signed During to services product packaging. quarter, analytical the work encapsulation and to first multiple expansion we
first by the event was as of of the Societal FDA quarter important manufacturer Another the during the for company commercial tablet product. the a approval
CDMO capabilities of of manufacturer reflecting building first as success ongoing Societal's Societal choice. tablet, the expansion our as company's for the is both approval of well This reputation a a in the commercial as for
and to begin We with product, are have entrusted later facility. Gainesville, this we delighted important been in Georgia expect this year production to manufacturing our the it of
would RSA, or filing. other news, and its bankruptcy In comment support agreement, Lannett's announcement on executed like to recently product also regarding restructuring we
marketing and XXXX. drug served master the file As a Lannett the Verelan partner SR reminder, the calcium Verapamil, PM long-approved formulations a has owns hypertension. company's CDMO and since for the channel Societal the as of NDA treatment for for Verapamil blocker
GMP overall in In CDMO July targeting agreement manufacturing supply manufacturing multiple and entered and injectable increases for societal projects. to potential agreement provided license with prices, an agreement its additional new company into which XXXX, the improved Lannett, products with economics, development
certain options the marketing with alternative to under provided conditions. addition, In partners agreement engage with
operations and has sheet. strengthening that We are it very to continue debt interruption minimal its pleased its that into RSA reducing will while this balance burden entered Lannett allow with
Importantly, agreement as Societal marketing the continue to near a in will to to term. we allow execute believe partner CDMO this Lannett
foremost SR and our Societal and CDMO Verapamil protecting committed PM distribution of products. first important However, is note to Verelan it's and to expanding the that
Lannett XX with another reason, been any circumstances SR. necessary, it and that, we expect months of that Verelan PM be Lannett monitoring partner the would transition limited place sales and disruption take Verapamil from past For have marketing to over the should to carefully
to address the no triggered In or factor we internal first recent the has like stock event closing, you pressure on decline that would company's and in the price, we to value. wish assure
that Our now portfolio we all years many of a facilitate to addressing this ever, past our given strength position. of we the from our began years customer believe stronger growth the and position diversifying come. have for fortified year and than will particularly we are couple fundamentals progress And XXXX debt made
in in have and honed steps quarter. to resulting last during and marketing strategies, development first our expansion taken and business The XXXX the year valuable wins new business date project
service. valuable and as product by the of a manufacturer the tablet for an enhance as high-value FDA our to the a commercial injectables capabilities, an recent Societal including including a market, experienced biologics, company partner continue making this We and investment expand approval in of establishes
prepared now concludes can for call questions. for This remarks today. up my Operator? We the open
