Thanks you joining thanking Jody. I by robust as like start my another well quarter and afternoon Good XXXX. as PDL for everyone colleagues and at teams for thank results us. the and in to Noden strong LENSAR would
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this This to minimizing will This a efficiencies. the set without and maximizing is the interdependencies adversely tax in XXXX help market line being approach the target fiscal We the of minimizing of company value why sales assets. complete operating key our ambitious we also our of year-end. by to completing impacting asset time public that costs believe notable including process the of quickly is best cost
implemented speed sell a broad PDL part for team downsizing we as as progressive range of In have our addition the we of cost initiatives including to XXXX, of reduction execution, assets. budget of the
Board a to oversee cost As this formed has our dedicated committee management process.
would for plan plan dissolution value the to of approving the company statement would at of can addition complete seek our resolution that liquidation, to Board a early maximize this to stockholder X. stockholders. Meeting. dissolution proposal a February, XXXX from in the proxy We process In sales whole in our for our our the include company event vote our passed be Turning slide not to a approval assets a in Annual to returned
stockholder that we litigation to approval, claims year-end. potential would process. of monetization statement remain minor upcoming administrative then for Assuming the stockholder assets. XXXX The proxy solely Delaware also company to handle target dissolution and on a detail and company passive distribution file dissolution our to dissolution in Please further refer anticipate matters remaining will of will resolve manage remaining issues. dissolution, and the post by we certificate After the
changes serving will Dr. retired slide of our past after the Board the in for as XX who from On retire these Board. joined our change replacing at Chairperson Selick Board Director XXXX, Director O'Farrell, who of connection we Barry nearly June of for PDL's Sandman Elizabeth have additional steps at XX beginning been X, among the Paul in the XXXX named already announced on Stockholders. years. strategy XXXX PDL are Meeting the a years has taken a was to with who Annual
to thank Board and our valued would many Barry the PDL contributions. service entire of and their to long behalf and like their I Paul for On company,
nine Board appointment be will the at directors, the and following Annual from Meeting. XXXX Alan comprised With Paul down of our Bazaar of Sandman's PDL seven retirement,
five Board and having two directors experienced past highly a within diverse years. is our the This with of joined
biopharma Our important of companies. in in our the directors strategy areas served leading some monetization expertise must at have world's senior deep positions to have and executive
notes early steps important taken also program. our In Shortly of creation $XX XX.X a $XXX towards million XXXX convertible million Board have We on substantial that for million XX% retired program. common stockholder $XXX authorized of our share we we buyback XXXX a December, announced share in cash notes thereafter comprised million and shares repurchase note value and our of stock. for convertible and
convertible reduction impact us note terms to monetize such allow provisions the the flexibility and of of potential on notes in our our with greater favorable financial transactions. on assets indentures significantly lessening This more convertible by will
an notes the coupons of $X.X would been maturity. debt $XX.X early the by and at that avoided we cash interest million have Additionally on due million in XXXX retiring additional interest accretion
Following authorized also XXbX-X the plan. the exchange, the Board million. approved a total to $XXX the million The program $XX repurchase the to of a bringing implementation increase Board announced note
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quarter fourth XX% slide XXXX now third a turn for the to the XXXX. and from our with monetize fourth is LENSAR, sales the net a to me X% in assets from This some implementation $X.X of process record our of of On quarter increase details high-quality quarter beginning X them. Let million. a increase and the reached
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of for by worldwide including procedures in the held an number year-end was XXX,XXX a a leader and growth, has XXXX, the market. in been XXXX. FLACS has procedure ophthalmic the This surgeons laser-assisted or surgery volume XX% LENSAR technology in volume year-over-year The share product XXXX XX% procedure cataract sustained gain launched by LENSAR LENSAR topped of supported increasingly global since recognized as femtosecond in market FLACS. approximate
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increase impact the of of mitigate the to XXXX U.S. off. competitions the paid in and actions Tekturna generic Our in profitability to
for of operational year-end net achieved the with $X.X impairment Excluding million operating Noden charge, profitability income XXXX.
organization by in reduced XXXX. generic and by the sales eliminating domestic in structure cost significantly following all Noden the terminating XXXX our efforts promotional launch We
that pleased together a are maintaining are and authorized branded Tekturna our share year-end. at generic We XX%
PDL generating performer Moving investment Biosciences for with strong in on returns. slide our on company XXXX immediate to health Evofem Evofem a XX. publicly traded in these was women's
stake year-end. the Evofem of equity between a of at quarter million with initial increasing to April for fourth XX% gain XX% investment in net our posted Our Evofem shares $XX.X XXXX
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very execute to confident So our for stockholders. in are monetization and to summary, in our plan value our significant we ability unlock
Ed? I'd turn financial Ed that, to our to the to call Imbrogno like With results. over discuss
