ArQule Inc. (NASDAQ:ARQL) Q1 2019 Earnings Conference Call Transcript

May 01, 2019 • 09:00 am ET


ArQule Inc. (NASDAQ:ARQL) Q1 2019 Earnings Conference Call Transcript


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Good day, ladies and gentlemen and welcome to the ArQule's First Quarter 2019 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 be given at that time. (Operator Instructions). As a reminder, this conference maybe recorded.

I would now like to introduce your host for today's conference, Marc Schegerin, Chief Financial Officer. Sir, please begin.

Marc Schegerin

Thank you very much. Good morning, everyone. Welcome to the ArQule investor conference call reviewing operational and financial results for the first quarter of 2019. I'm Marc Schegerin, Chief Financial Officer and Head of Strategy at ArQule. This morning, we issued a press release that reported results for the first fiscal quarter ended March 31, 2019. This release is available on our website at Leading the call today will be Paolo Pucci, Chief Executive Officer of ArQule. Also present from the Company are Peter Lawrence, President and COO; and Brian Schwartz, Head of R&D.

Before we begin, please note that we will be making forward-looking statements as defined in the Private Securities Litigation Act of 1995. These statements will include, among other things, projections regarding the timing of key events related to ArQule's proprietary pipeline and financial guidance for 2019. Actual results may differ materially from those projected in the forward-looking statements due to numerous risks and uncertainties that exist in ArQule's operations, development efforts and the business environment, including those factors discussed in our reports on Forms 10-Q and 10-K and other documents filed with the Securities and Exchange Commission. The forward-looking statements contained in this call represent the judgment of ArQule as of today. ArQule disclaims any intent or obligation to update any forward-looking statements, except to the extent required by law. We will provide an opportunity for Q&A at the end of this call.

I'd now like to introduce the CEO of ArQule, Paolo Pucci.

Paolo Pucci

Marc, thank you very much. Thank you all for joining us this morning for our first quarter call of the year. I would start by saying that during Q1, we have continued to implement our operational plans just on track or better than expected. And we would like to give you a little bit of an update of those -- that implementation.

So although the work we have done, I will provide a couple of key updates upfront. In terms of call organization I will provide an introduction. Then Brian will go in deep in the medical clinical development update. Marc will go in depth in the financials. And then, we'll open it up for questions.

Given that we have a number of new investors that we have welcomed in the last few months, just a very brief table setting introduction. We are following -- we are pursuing right now three strategies that define our efforts for each of the three fully-owned pipeline candidates that we are pursuing. In BTK mutated B-cell malignancies with ARQ 531, we aim to be first and best-in-class