Strongbridge Biopharma plc (NASDAQ:SBBP) Q3 2019 Earnings Conference Call - Final Transcript

Nov 07, 2019 • 08:30 am ET


Strongbridge Biopharma plc (NASDAQ:SBBP) Q3 2019 Earnings Conference Call - Final Transcript


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Good afternoon, ladies and gentlemen, and welcome to the Strongbridge Biopharma PLC Corporate Update and Third Quarter 2019 Earnings Conference Call.

[Operator Instructions] I would now like to turn the conference over to your host, Ms. Lindsay Rocco of Elixir Health Public Relations. Ma'am, please go ahead.

Lindsay Rocco

Thank you, and good morning, everyone. We are pleased that you could join us today for Strongbridge Biopharma's third quarter 2019 earnings conference Call. Joining me from Strongbridge this morning are John Johnson, Executive Chairman, Scott Wilhoit, Chief Commercial Officer, Dr. Fred Cohen, Chief Medical Officer, and Rob Lutz, Chief Financial Officer. Before we begin, I would like to remind you that during this call, the company will be making forward-looking statements that are subject to risks and uncertainties that may cause actual results to differ from the results discussed in the forward-looking statements. Reference to these risks and uncertainties are made in today's press release and disclosed in detail in the company's periodic and current event filings with the US Securities and Exchange Commission. I will now turn the call over to John Johnson.

John H. Johnson

Thanks, Lindsay. Good morning, everyone, and thank you for joining us today. For today's call, I would first like to begin by welcoming Rob Lutz to his first quarterly earnings call, following his promotion to Chief Financial Officer in September.

As many of you know, Rob has been a key leader at Strongbridge for the past several years, driving our product acquisition strategy in his previous role as Chief Business Officer. We also announced this quarter the appointment of Rich Kollender, who previously served on the company's Board of Directors, to the newly created role of Chief Operating Officer.

Additionally, on Tuesday, we announced that Matthew Pauls has stepped down as President, Chief Executive Officer and Director. Both he and the Board have mutually agreed that now is the right time to transition leadership of the company. The Board is actively seeking to hire a new CEO, who will be able to take the organization to the next level for patients, health care providers, employees and our investors.

In the interim, I'm stepping in to help lead the organization, while the Board conducts a formal search. On behalf of the Board of Directors, I would like to thank Matt for his many contributions to the company over the years, and we wish him well in his future endeavors.

I have served as Chairman of Strongbridge since 2015, and my confidence in the company's vision and ability to deliver better results for patients living with rare diseases remains unchanged. My three initial priorities are, first to identify a new Chief Executive Officer, second, ensure a high quality new drug application submission for RECORLEV. And third, improve the company's financial performance through cost-saving initiatives and growing KEVEYIS sales.

KEVEYIS, our first commercial product, has performed well thus far in 2019, thanks to this team's dedication to serving the many unmet needs of the Primary Periodic Paralysis community. KEVEYIS achieved $5.7 million