Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q1 2020 Earnings Conference Call - Final Transcript

May 05, 2020 • 04:30 pm ET


Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q1 2020 Earnings Conference Call - Final Transcript


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Good afternoon and welcome to the Akcea Therapeutics Incorporated First Quarter 2020 Conference Call. [Operator Instructions]

I will now turn the call over to Angelyn Lowe, Akcea's Executive Director of Corporate Communications and Investor Relations. Ms. Lowe, please begin.

Angelyn Lowe

Thank you, Jason. Hello, everyone. Thank you for joining today's call. With me today are Damien McDevitt, our Chief Executive 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 look -- outlook for Akcea, Akcea's businesses and the therapeutic and commercial potential of Akcea's products in development. Any statement describing Akcea's goals, expectations, financial, or other projection, intentions or beliefs, including the commercial potential of TEGSEDI, WAYLIVRA and our pipeline medicines is a forward-looking statement and should be considered an at-risk statement. Such statements are subject to certain risks and uncertainties, including those related to the impact COVID-19 could have on our business including, but not limited to, the impact on our commercial products and the medicines in our pipeline, and particularly those inherent in the process of discovering, developing and commercializing medicines that are safe and effective for use as human therapeutics and in the endeavor of building a business around such medicines. 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 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 that accompany today's call, please visit the Investors section of our website.

Now, I'll turn the call over to Damien.

Damien McDevitt

Thank you, Angelyn. Good afternoon, everyone, and thank you for joining today's call. We had a strong start to the year as we continue to advance our mission of delivering transformative treatments to people living with serious and rare diseases. We ended the first quarter with $421 million of cash and short-term investments on the balance sheet, putting us in a very strong position to execute on our strategic priorities in 2020 and beyond.

Our strategy is to successfully execute on our two commercial launches and to advance the transformational programs that we currently have in developments while also adding additional rare disease medicines to our pipeline, both from Ionis and from third parties. In addition, we will partner