Arrowhead Research Corp. (ARWR) F3Q10 (Qtr End 06/30/10) Earnings Call August 12, 2010 4:30 pm ET Executives Brandi Floberg - IR Christopher Anzalone - President and CEO Ken Myszkowski - CFO Analysts Todd Ulrich - Private Investor Presentation Operator
In addition, any statements that refer to projections of Arrowhead’s future financial performance, trends in its businesses, or other characterizations of future events or circumstances are forward-looking statements. Forward-looking statements represent managements’ current expectations and are inherently uncertain.You should also refer to the discussions under Risk Factors in Arrowhead’s Annual Report on Form 10-K and the quarterly reports on Form 10-Q for additional matters to be considered in this regard. Thus, actual results may differ materially. Arrowhead undertakes no duty to update any of the forward-looking statements discussed on today’s call. With that said, I would like to turn the call over to Dr. Christopher Anzalone, President and CEO of the company. Chris? Dr. Christopher Anzalone Thanks very much, Brandi. Good afternoon everyone, and thank you for joining us on our call today. The end of our second fiscal quarter marked an important event with the publication of Calando's interim Phase I data in the procedures still on nature. Gene balancing via RNA interference and effective systemic delivery of siRNA, we demonstrate it for the first time in humans. We have followed the Calando accomplishment with continued execution based on six core focus areas to build value. They are one, market; two, science; three, management; four, capital; five, Partnerships; and six, smart growth. These are critical drivers for us and I believe for our shareholders. We have made significant progress in all of these areas over the past quarter. Let me address examples of each and start with the market. Proper market identification must lead our business strategy. The risks associated with technology development and operational execution requires that any business we build must address a clear, large and/or unmet market need. Calando is focused on the large oncology market and is also exploring strategies to customize its flexible RONDEL platform to address other indications. Unidym is focused on applying its carbon nanotube materials to large and growing displayed markets and continues to make progress in penetrating touch panel markets.
This week, we announced an auction to license the new technology platform developed at MD Anderson Cancer Center to fight obesity. We have been exploring this market for quite some time in search for platforms that could address this very large set of markets in a new and powerful way. There may not be a market within medicine with larger direct and indirect economic costs. Hence obesity is an attractive target for us. We are very excited about the technology and we will continue to explore whether our license and potential new company will be a good opportunity for us.Let’s now turn to science, the raw material used to address these large market opportunities. Our company’s initiatives must be based on world class science. There is simply no substitute. Calando has demonstrated its scientific bona fides on multiple occasions including through the Nature publication and most recently through its presentation of Phase I data at the American Society for Clinical Oncology 2010 annual meeting. As we have discussed in the past, the trial is ongoing. It is progressing and we are continuing to enroll patients. As this common practice with clinical trials, we do not expect to be providing additional interim updates on data from the Phase I until it has been completed. We expect the final data from this trial will be submitted for publication and appear in the new journal. Unidym has also demonstrated the power and breadth of its science on many occasions. We believe that the deep pattern portfolio puts us in a powerful position in the use of carbon nanotubes for electronic devices. Over the past quarter, Unidym's had key new patents granted by the US Patent Office to further build on its already substantial intellectual property base. The nanotube technology has also move forward impressively over the past quarter but the publication in the prestigious journal proceedings of the National Academy of Scientist. The new data demonstrate cartilage regeneration in an established rapid model and we are very excited about continuing that development and addressing the large unmet need of medicine. Read the rest of this transcript for free on seekingalpha.com