Applied Genetic Technologies Corporation (NASDAQ:AGTC) Q3 2019 Earnings Conference Call Transcript

May 07, 2019 • 08:00 am ET


Applied Genetic Technologies Corporation (NASDAQ:AGTC) Q3 2019 Earnings Conference Call Transcript


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Good morning, and welcome to the AGTC Third Quarter Fiscal Year 2019 Financial Results Conference Call. Today's call is being recorded.

Before we get started, I'd like to remind everyone that during the conference call, AGTC may make forward-looking statements, including statements about the company's financial results, financial guidance, its future business strategies and operations and its product development and regulatory progress. Actual results could differ materially from those discussed in these forward-looking statements due to a number of important risk factors, including uncertainty inherent in the clinical development and regulatory process and other risks described in the Risk Factors section of AGTC's Annual Report on Form 10-K for the fiscal year ended June 30, 2018, and quarterly reports on Form 10-Q for subsequent periods.

For introductions and opening remarks, I'd like to turn the call over to Sue Washer, Chief Executive Officer of AGTC. Please, go ahead.

Susan B. Washer

Thank you. Good morning, and thank you all for joining us today. With me is Bill Sullivan, our Chief Financial Officer; Matt Feinsod, our Chief Medical Officer; and Mark Shearman our Chief Scientific Officer. During today's call, Matt will review the significant progress we have made enrolling patients in our three ongoing clinical programs. Bill will review our financial results for the third quarter of fiscal year 2019 and we will then be available to answer your questions.

Throughout 2019, we achieved multiple clinical development milestones, which set us up to meet guidance on data release for all three of our programs in rare inherited retinal diseases. The successful attainment of these enrollment milestones reflects our commitment to developing breakthrough therapies and underscores AGT's leadership in innovating gene-based therapies with the potential to address unmet patient needs. We are dedicated to advancing our programs in XLRP and achromatopsia in order to improve patient's visual function. We would like to take this opportunity to commend the AGTC team, the investigators and coordinators, our clinical trial sites and most importantly, the patients and their families who have volunteered to participate in these trials, without whom this great progress would not be possible.

While our overriding focus is on enrolling and completing our clinical trials in XLRP and achromatopsia, we know that our AAV-based gene delivery platform has broad potential to address a variety of diseases with significant unmet medical needs. We are continuing our work on several preclinical ophthalmology and otology programs as well as our preclinical program in adrenoleukodystrophy, a rare CNS indication, and we will provide more information as these programs move forward to IND-enabling preclinical studies.

We are reviewing additional options to expand our pipeline further providing us the opportunity to create a broad pipeline and significant value for patients and shareholders. We recently presented a body of data evaluating immune response in primate eyes at ARVO, ASGCT and the Foundation Fighting Blindness sixth annual Retinal Innovation Summit and have previously presented on the enhanced transduction properties of our engineered capsid. It is by conducting these types of studies that we continue