Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q2 2020 Earnings Conference Call - Final Transcript

Aug 04, 2020 • 04:30 pm ET

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Akcea Therapeutics, Inc. (NASDAQ:AKCA) Q2 2020 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

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

I would now like to turn the conference over to Angelyn Lowe, Akcea's Vice President of Corporate Communications and Investor Relations. Ms. Lowe, please begin.

Executive
Angelyn Lowe

Thank you, Chuck. 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 Michael Price, our Chief Financial 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 and development. Any statement describing Akcea's goals, expectations, financial or projections, intentions or beliefs, including the commercial potential of TEGSEDI, WAYLIVRA and Akcea's other medicines in development, 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 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 proved 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 a good faith judgment of its management, these statements are based only on facts and factors currently known by Akcea.

In particular, we caution you that our forward-looking statements are subject to the ongoing and developing circumstances related to the COVID-19 pandemic, which may have a material adverse effect on our business, operations and future financial results. 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 press release and access the slides with accompany today's call, please visit the Investors section of our website.

Now I'll turn the call over to Damien.

Executive
Damien McDevitt, Ph.D.

Thank you, Angelyn, good afternoon, everyone, and thank you for joining today's call. We performed well in the second quarter. We continue to grow revenue for both TEGSEDI and WAYLIVRA, we advanced our robust pipeline of transformational medicines, and we added toward leadership team despite the challenging COVID-19 environment. We ended Q2 with $319 million in cash and short-term investments on the balance sheet giving us the financial flexibility to execute on our short- and longer-term strategic priorities. We are a commercial-stage biopharmaceutical company that is committed to developing and commercializing transformational and life-changing medicines to treat patients with serious and rare diseases.

In just five years we are proud