PTC Therapeutics, Inc. (NASDAQ:PTCT) Q3 2018 Earnings Conference Call Transcript

Nov 05, 2018 • 04:30 pm ET


PTC Therapeutics, Inc. (NASDAQ:PTCT) Q3 2018 Earnings Conference Call Transcript


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Good afternoon, ladies and gentlemen, and welcome to the PTC Therapeutics Third Quarter 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. (Operator Instructions) As a reminder, this conference call is being recorded.

I'd now like to turn the conference over to your host, Ms. Emily Hill, Head of Investor Relations. Ma'am, you may begin.

Emily Hill

Hello. Good afternoon, and thank you for joining us to discuss our 2018 third quarter corporate updates and financial results. Joining me on today's call is our CEO, Stuart Peltz; our Chief Operating Officer, Marcio Souza; and our Principal Financial Officer, Christine Utter.

(Forward-Looking Cautionary Statements)

We will disclose certain non-GAAP information during this call. Information regarding our use of GAAP and non-GAAP financial measures and a reconciliation of GAAP to non-GAAP is available in today's earnings release.

With that, let me pass the call over to our CEO, Stuart Peltz.

Stuart Peltz

Thanks for joining us this afternoon. Joining me on the call today are Marcio and Christine. Marcio will provide the commercial and clinical development update. Christine will review our financials. I'd like to ask you to turn now to the slides we have posted on our website to highlight some accomplishments in the third quarter.

Let's start on slide three. I'm going to spend time on today's call talking about our path to continue to build a leading fully-integrated biotech company that has multiple platforms. Our mission over the last two decades has been to be a scientifically innovative company that discovers, develops and commercializes new therapeutics for patients suffering from rare disorders with high unmet medical need. From this effort, we developed a strong DMD base business, a potential best-in-class therapy in the development for SMA and two therapies in clinical development for patients suffering from rare cancers. At our Analyst Day earlier this year, we went into detail on our orphan oncology pipeline. Our development strategy is to generate early clinical data showing benefit to patients in these programs and then determine the best path that maximizes shareholder returns. I'm happy to report the most advanced programs, PTC596 and PTC299, have recently entered the clinic. These efforts have built a strong commercial and scientific infrastructure with a solid revenue base. Over the next three to five years, our strategy is to continue to build and grow our orphan disease franchise, creating significant value for all of our stakeholders.

As you can see on our pipeline chart on slide four, we are excited to be in such a unique position. We have a strong revenue base, strong talent and a diverse portfolio of small molecules and gene therapy candidates. This includes therapies in development as well as products in regulatory review or have been approved. We will maintain our focus on the rare disease space, focusing on monogenetic disorders with high unmet medical need.

Next on slide five. I'm pleased to report that we have