Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Q2 2020 Earnings Conference Call - Final Transcript

Jul 16, 2020 • 08:00 am ET


Agios Pharmaceuticals, Inc. (NASDAQ:AGIO) Q2 2020 Earnings Conference Call - Final Transcript


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Good morning and welcome to Agios' Second Quarter 2020 Conference Call. [Operator Instructions]. I would now like to turn the call over to Holly Manning, Director of Investor Relations.

Holly Manning

Thank you, operator.

Good morning, everyone, and welcome to Agios' second quarter 2020 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. Dr. Bruce Car, our Chief Scientific Officer will join for Q&A.

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 second quarter 2020 results call. The second quarter was an incredibly productive and important time for Agios as we made significant progress across the business and accomplished several of the key objectives that we set for 2020. The steps we took in Q2 solidified our strategic priorities for the remainder of the year and move us closer to achieving our 2025 vision.

Seven years ago, we discovered the first pyruvate kinase-R activator, mitapivat, and since then we've led the science behind this mechanism, advanced a Phase 3 program in pyruvate kinase deficiency and became the first company to establish that activating wild type PKR may provide therapeutic benefit in other hemolytic anemias such as thalassemia and sickle cell disease. Over the past quarter, we further underscored our leadership in the space and shared key updates that support our next phase of development for mitapivat.

To start, we established compelling proof-of-concept for mitapivat and sickle cell disease, demonstrating that PKR activation has the potential to treat chronic hemolytic anemia and markers of sickling in these patients. In addition, at EHA we presented data for the first time at a medical meeting for mitapivat in thalassemia showing sustained hemoglobin responses in both beta thalassemia and alpha thalassemia patients. In May, the FDA granted us orphan drug designation for this indication.

As we look ahead, we are firmly committed to the rapid advancement of mitapivat across all three of these disease areas. The remainder of 2020 will be focused on preparations for top line data from the PK deficiency Phase 3 studies and the submission of an NDA for mitapivat's first indication and the indication of pivotal programs in both thalassemia and sickle cell