Andeavor (NYSE:ANDV) Q2 2016 Earnings Conference Call - Preliminary Transcript

Aug 04, 2016 • 08:30 am ET


Andeavor (NYSE:ANDV) Q2 2016 Earnings Conference Call - Preliminary Transcript


Loading Event

Loading Transcript


Good day, ladies and gentlemen, and welcome to the TESARO Inc. Second Quarter Financial Results Call. At this time, all participants are in a listen-only mode. Later, we will conduct the question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to your host, Ms. Jennifer Davis. Ms. Davis you may begin.

Jennifer Davis

Thank you, operator. Good afternoon, and thank you for joining us today to discuss our recent business progress and TESARO's second quarter 2016 operating results. With me here today are our CEO, Lonnie Moulder; our President & COO, Dr. Mary Lynne Hedley; and our CFO, Tim Pearson.

Earlier this afternoon, we issued a news release detailing our Q2 results. Please note that this news release and the slide presentation that we will refer to during this conference call are both available in the Investors section of our website,

Before we begin, I'd like to remind you that discussions during this conference call will include forward-looking statements. These statements are subject to a number of risks and uncertainties that could cause our actual results to differ materially from those described in these forward-looking statements.

We undertake no obligation to update or revise any forward-looking statement for any reason. The factors that could cause actual results to differ are discussed in the press release issued today and in our SEC filings, including our Annual Report on Form 10-K for the year ended December 31st, 2015, and quarterly report on Form 10-Q for the quarter ended March 31st, 2016.

During today's call, we may refer to certain non-GAAP financial measures that involve adjustments to GAAP figures. These non-GAAP financial measures are not a substitute for GAAP financial measures and are unlikely to be comparable to non-GAAP information provided by other companies. We believe non-GAAP measures may be useful as tool to investors as a supplement to but not as a substitute for the applicable GAAP number.

I'd now like to turn the call over to Lonnie Moulder, CEO of TESARO.

Lonnie Moulder

Thank you, Jen. And thank you, everyone for joining us this afternoon. Our vision at TESARO is to build a leading oncology company and create value through the responsible development and commercialization of transformative therapies for people bravely facing cancer. The second quarter was an incredible time for the company marked by progress across a variety of corporate, commercial and pipeline initiatives and most significantly the extremely gratifying Phase 3 data from the NOVA trial of niraparib. These achievements set the stage for four potential new product launches in 2017 including the IV VARUBI and niraparib launches in the US and the oral VARUBI and niraparib launches in Europe.

With the landmark NOVA results in hand, we're preparing to make global regulatory submissions and launch niraparib next year. Niraparib is the first and only PARP inhibitor to successfully complete a prospectively designed randomized well controlled Phase 3 trial and we really look forward