Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q1 2019 Earnings Conference Call - Final Transcript

May 08, 2019 • 04:30 pm ET


Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q1 2019 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to your Akcea Therapeutics First Quarter 2019 Conference call. As a reminder, this call is being recorded. I would now like to turn the call over to Kathleen Gallagher, Akcea's Vice President of Corporate Communications and Investor Relations. Ms. Gallagher, please again.

Kathleen Gallagher

Thank you, Nova. Good afternoon, everyone, and thanks for joining us today. With me on today's call are Paula Soteropoulos, our Chief Executive Officer; Sarah Boyce, our President; and Mike MacLean, our Chief Financial Officer.

As a reminder, this conference call includes forward-looking statements regarding the financial outlook for Akcea, Akcea's business and the therapeutic and commercial development of Akcea's products and development. Any statement describing Akcea's goals, expectations, financial or other projections, intentions or beliefs, including the commercial potential of TEGSEDI, WAYLIVRA and our pipeline drugs is a forward-looking statement and should be considered an at-risk statement.

Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of discovering, developing and commercializing drugs that are safe and effective for use as human therapeutics, and in the endeavor of building a business around such drugs.

Akcea's forward-looking statements also involve assumptions that if they never materialize or prove correct could cause its results to differ materially from those expressed or implied by such forward-looking statements. Although Akcea's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Akcea. As a result, you're cautioned not to rely on these forward-looking statements.

These and other risks concerning Akcea's programs are described in additional detail in Akcea's most recent quarterly report on Form 10-Q and in the most Annual Report on Form 10-K on file with the SEC. Copies of these and other documents are available from the Company.

In addition, earlier today, we issued a press release and related financial tables including a reconciliation of GAAP to our reported non-GAAP financial measures that we will discuss today. To read this release and access the slides and the company's today's call, please visit the Investors section of our website.

Now, I'll turn the call back over to Paula.

Paula Soteropoulos

Thank you, Kath. Good afternoon, everyone. Thank you for joining us. We had a highly productive start to 2019. WAYLIVRA's approval earlier this week officially makes us a multi-product global commercial company. So far in 2019, along with a conditional approval for WAYLIVRA in Europe, we have completed our first full quarter of the TEGSEDI launch. We successfully licensed AKCEA-APO(a)-LRx to Novartis and earned $150 million, and we continue to make progress on our pipeline.

It's amazing to think that just 12 months ago, we brought the TTR franchise to Akcea. By the end of 2019, we will have two commercial products, two programs in Phase 3 development, and two drugs nearing Phase 2 data. With this, and the commercial capability that we have built since our founding by Ionis, we are closer than ever to realizing our vision of delivering innovative solutions