Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Q4 2019 Earnings Conference Call - Final Transcript

Feb 13, 2020 • 08:00 am ET


Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Q4 2019 Earnings Conference Call - Final Transcript


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Good morning and welcome to Agios Fourth Quarter and Full Year 2019 Conference Call. [Operator Instructions]

I would now like to turn the call over to Holly Manning, Associate Director of Investor Relations.

Holly Manning

Thank you, operator. Good morning everyone and welcome to Agios' fourth quarter and full year 2019 conference call. You can access slides for today's call by going to the Investors section of our website With me on the call today with prepared remarks are Dr. Jackie Fouse, our Chief Executive Officer; Dr. Chris Bowden, our Chief Medical Officer; Darrin Miles, our Senior Vice President of US Commercial and Global Marketing; and Andrew Hirsch, our Chief Financial Officer and Head of Corporate Development.

Before we get started, I would like to remind everyone that some of the statements we make on this call will include forward-looking statements. Actual events and results could differ materially from those expressed or implied by any forward-looking statements as a result of various risks, uncertainties and other factors, including those set forth in the Risk Factors section of our most recent Form 10-Q filed with the SEC and any other filings that we may make with the SEC.

With that, I will turn the call over to Jackie.

Jacqualyn Fouse

Thanks Holly. Good morning everyone and thanks for joining our fourth quarter 2019 results call. I took on the role of CEO at Agios a year ago. And at the time I was excited about the work the Company does and our ability to make a meaningful difference in the lives of patients. Today I'm even more excited with where we are as we go into 2020. I've spent the last 12 months listening and learning from our colleagues, supporting the execution of several notable firsts for the Company and evaluating ways to build on our past successes and further focus the business to create value for patients and all of our stakeholders. I have more confidence than ever about the quality of our science, the strength of our team and our impressive portfolio of preclinical, clinical, and commercial programs that is truly differentiated.

It is with this excitement and confidence that we rolled out our 2025 strategic vision in January sharing for the first time what the Company could look like as our portfolio progresses over the next six years. By the end of 2025, we expect the Company to have four marketed medicines all discovered and developed at Agios, generating at least $1 billion in product revenue from at least eight indications across our three focus areas of hematologic malignancies, solid tumors, and rare genetic diseases.

We'll have six or more molecules in the clinic, four of which will be entirely new molecules generated by our internal research discovery engine and we will be cash flow positive within the six-year time-frame. This long-term vision was built on the foundation of our 2019 achievements and our existing clinical and late-stage pre-clinical programs. Within our base case plan, I also think we have tremendous optionality