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Dyax Corporation CEO Discusses Q2 2012 Results - Earnings Call Transcript

Thank you, Jen. Good evening everyone and welcome to Dyax Corp.’s second quarter 2012 earnings call. My remarks today will provide you with highlights on the second quarter, and a review of our key value drivers, KALBITOR angioedema franchise, as well as the Licensing and Funding Research Program.

We are pleased to report another strong quarter for our KALBITOR business, marking the ninth quarter in a row of steady, consistent revenue growth. This is based on solid execution of our strategy to provide patients with premiere services and support.

We will go into more detailed account of the KALBITOR business momentarily, but I want to mention a few key metrics and achievements we had this past quarter. First, KALBITOR sales for the second quarter were $9.2 million, up 14% from the first quarter of 2012. Second, patients treated with KALBITOR increased to 518, up 12% from the first quarter of 2012. This continued positive momentum is a result of delivering first class services and support to the entire HAE community, including patients, advocates and healthcare professionals.

We have launched several new programs in the last quarter, designed to identify and attract new patients, which together with our entire suite of offerings positions Dyax for continued growth in the KALBITOR business. Along with the developing the HAE market, we are also leveraging our knowledge of the plasma kallikrein pathway to ultimately diagnose and treat other angioedema states. Our second pillar, the LFRP, continues to be a near- and long-term value driver for Dyax. It already provides us with approximately $15 million in revenues annually, and has significant potential, through its broad and maturing pipeline of clinical candidates, addressing large therapeutic markets.

For more detail on these key business areas, I’ll now turn the call over to our executive management team. First, Rick Berard, Vice President, Commercial, will discuss our ongoing marketing efforts for KALBITOR in the U.S. Dr. Burt Adelman, Chief Medical Officer, will discuss our resurging initiatives in the angioedema franchise. Dr. Ivana Magovčević-Liebisch, Chief Business Officer, will discuss our global expansion efforts for KALBITOR, as well as the LFRP. And finally, George Miguasky, Chief Financial Officer, will present our financial highlights and financial guidance. Following these updates, I will provide concluding remarks, then open the lines for Q&A. At this time, I will turn the call over to Rick, who will review the progress of KALBITOR in the U.S.

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