Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q4 2019 Earnings Conference Call - Final Transcript

Feb 25, 2020 • 04:30 pm ET


Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q4 2019 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the Akcea Therapeutics Fourth Quarter and Full Year 2019 Conference Call. As a reminder, this call is being recorded. I will now turn the call over to Kathleen Gallagher, Akcea's Vice President of Corporate Communications and Investor Relations. Ms. Gallagher, please begin.

Kathleen Gallagher

Thank you, Katrina. Hello, everyone, thank you for joining today's call. With me today are Damien McDevitt, our Interim Chief Executive Officer; Mike MacLean, our Chief Financial Officer; Kyle Jenne, our Chief Commercial Officer; and Alex Howarth, our Chief Operating 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 potential of Akcea's products in 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 are 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 recent annual report 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. The release and access to slides that accompany today's call, please visit the Investors section of our website.

Now, I will turn the call over to Damien.

Damien McDevitt

Thanks, Kath, good afternoon, everyone and thank you for joining today's call. I'd like to start the call by highlighting our achievements for 2019 and our plans for 2020. After that, Kyle will discuss our commercial efforts and Mike will discuss our financials. I will wrap up with some comments on the pipeline and provide closing thoughts as we look ahead to 2020. 2019 was a successful year for Akcea as we continue to advance [Technical Issues] of delivering transformative treatments to people living with serious and rare diseases. We ended the year with $464 million of cash on the balance sheet, putting us in a strong position to execute on our strategic priorities for 2020 and beyond.

Our focus in 2019 was on the 2-2-2 plan; two commercial products, two Phase 3 programs; and two medicines nearing