Tetraphase Pharmaceuticals, Inc. (NASDAQ:TTPH) Q4 2018 Earnings Conference Call - Final Transcript
Mar 14, 2019 • 04:30 pm ET
Good day, ladies and gentlemen, and welcome to the Tetraphase Pharmaceuticals' Fourth Year and 2018 Financial Results Conference Call. At this time all participants are in a listen-only mode. (Operator Instructions) As a reminder, this conference call is being recorded.
I would now like to introduce your host for today's conference, Jennifer Viera, Corporate Communications. You may begin.
Thank you. Good afternoon, and thank you, everyone for joining us on today's call. With me today are Guy MacDonald, President and Chief Executive Officer; Larry Edwards, Chief Operating Officer; Dr. Larry Tsai, Chief Medical Officer; Chris Watt, Senior Vice President of Finance; and Dr. Jacques Dumas, Chief Scientific Officer. On the call, Guy will make introductory remarks, highlighting recent corporate developments; Larry will provide an update on the XERAVA launch; Dr. Tsai will provide an update on our pipeline; and Chris will provide an overview of our fourth quarter and year-end 2018 financial results. Guy will then then conclude, and we'll open the call to questions.
Before we begin our formal comments, however, let me remind you that during today's conference call, we will be making forward-looking statements that represent the Company's intentions, expectations or beliefs concerning future events. These forward-looking statements are qualified by important factors set forth in today's press release and the Company's filings with the SEC, which could cause actual results to differ materially from those in such forward-looking statements. Information discussed on today's call is accurate as of today, and we do not necessarily intend to update this specific information in the future.
I would now like to turn the call over to Guy MacDonald. Guy?
Thank you, Jennifer, and good afternoon to everyone. 2018 was an exceptional year for Tetraphase, culminating in the US Food and Drug Administration and the European Medicine Agency's regulatory approvals for XERAVA for the treatment of complicated intra-abdominal infections or cIAI and the subsequent US launch. These approvals capitalized our transition from a development-stage company to a revenue-generating commercial-stage biopharmaceutical company. They were the results of many years of hard work and dedication by our employees to address the growing and urgent need for differentiated new antibiotics to combat serious, often life-threatening, multidrug-resistant infections. XERAVA fulfills that need, providing physicians with a new, effective and safe medication that they can use for not only confirmed infections, but empirically, an important distinction that enables earlier intervention with the potential to save lives.
With this differentiated clinical profile and broad labeling as well as responsible and accessible pricing, we believe XERAVA will become an increasingly important component of the antibiotic treatment arsenal particularly, in hospitals and healthcare institutions, where pathogen resistance is a very real and ongoing threat. Launched in mid-October, XERAVA is off to a solid start in the US, making progress with target institutions. During 2018, and reflecting just nine weeks of commercial availability, XERAVA generated net revenues of $178,000. This is very much where we expected to be when you take into account the timing of launch and the fact