Dyax Coporation, ( DYAX)

Q3 2010 Earnings Conference Call

October 27, 2010 05:00 pm ET

Executives

Gustav Christiansen – President, CEO

Ivana Magovčević-Liebisch - EVP, Corporate Development & General Counsel.

George Miguasky - Executive Vice President, CFO.

William Pullman - Executive Vice President, Chief Research and Development Officer.

Rick Berard - Vice President Commercial

Analysts

Mark Monet - Needham Company

Phil Nato - Cohen and Company

Brian Scorny - Bank Equity

Kim Lee - Global Hunter Securities

Michael Smith - Unknown Company

Mario Corso - Harris and Company

Presentation

Operator

Good morning afternoon and welcome Ladies and Gentlemen to Dyax Corps Third Quarter 2010 financial earnings conference call. At this time I would like to inform you that this conference call is being recorded and that all participants are in a listen only mode. As a request of the company we will open up the call for a question and answer period at the end of the presentation. Before turning this call over to Gustav Christiansen, President and Chief Executive Officer of Dyax, the company will read their safe harbor statement.

Unidentified Corporate Participant

This afternoon Dyax issued a press release concerning its third quarter 2010 financial results. Dyax would like to remind everyone that statements made today reflect current information, estimates and projections, about its products, programs, collaborations, strategies and financial performance in our forward-looking statements. These statements including those relating to Dyax's FDA approved products, KALBITOR, are subject to risks and uncertainties that could cause actual events to result to differ materially. Important information concerning these risks and uncertainties is contained in Dyax's press release today and is scribed or referred to as most recent form 10-K and other periodic reports filed with the SEC. And also available on the company's website at www.dyax.com. I will now turn the call over to Gustav Christiansen, our President and CEO. Gustav?

Gustav A . Christiansen

Thank you, Nicole. Good evening and thank you for joining us on the Dyax Quarterly Conference Call. With me this evening are Ivana Magovčević-Liebisch, our Executive Vice President, Corporate Development and General Counsel. George Miguasky, Executive Vice President and Chief Financial Officer, Bill Pullman, Executive Vice President and Chief Research and Development Officer and Rick Berard, Vice President Commercial. So third quarter was another defining quarter for Dyax. We continue to execute according to plans and as a result we witnessed our patient base grow dramatically.

As of last Friday, October 22nd, we have 419 patients in KALBITOR access and the (inaudible) 246 patients have KALBITOR placed at the treatment site. So we more than doubled the amount of patients on KALBITOR since the last quarter and had approximately an eight-fold increase over the patients in the first quarter. At nine months into KALBITOR's loss we believed we had the large HAE patient base than any other company in the HAE market at this point in their lives. Based on these positive numbers we are reaffirming our previous guidance that we will have more than 300 hundred patients with KALBITOR placed at the treatment centers by year-end. As we've indicated before building a patient base is our number priority. With this momentum going into the fourth quarter we are well poised for future success. We believe KALBITOR's adoption in the market place can be attributed to several factors.

One of which is the growing realization among HAE patients and their physicians that they need to be prepared for their next attack. Now that there is an acute an option. It has been proven to treat all attack locations; patients understand that is possible to have a more effective treatment plan in place. Furthermore reasonable market research indicates that patients would rather treat their disease acutely and prophylactically. To that end we continue to see prophylactic patients taking KALBITOR to treat near break through attacks. Regarding KALBITOR's availability world wide we have made significant progress with our global development and commercially safe strategy, as we have shared with you in the past our objective is to partner outside the U.S. with the company's committed to developing treatments for rare diseases.

Our news collaboration in Japan we chose a partner with that level of dedication. Ivana will tell you more about this after our launch update. With respect to our financials George will provide more detail later in the call and discuss note worthy highlights for the quarter. Then Bill will update you regarding our life cycle management program for KALBITOR. This involves (inaudible) work, a potential pediatric legal expansion, and additional indications for each inhibitor induced (inaudible). Finally, I'll provide an overview of our pipeline and (inaudible) to fund research program before we conclude the call.

At this time I would like to turn the call over to Rick who heads our commercial team to update you on our commercial launch and our progress in more detail. Rick joined us in 2007 and he has more than 20 years of experience in the biopharmaceutical industry. Throughout his career Rick has been involved in numerous specialty product launches, prior to Dyax he was provided and was involved in the launch of both (inaudible) and (inaudible).

Rick Berard

Thank you, Gustav. To begin I'd like to say we are well on our way to making KALBITOR the acute treatment choice for HAE patients. As we have still, in the early phase of launch, the factors we continue to consider most predictive of our future success are the number of patients in KALBITOR access and the number of patients with KALBITOR place at a treatment site ready for the next attack and, as Gustav stated, we are extremely pleased to report that we currently have 419 patients in KALBITOR access and of those 246 patients with KALBITOR placed.

Read the rest of this transcript for free on seekingalpha.com

More from Stocks

Dow Falls Sharply, Nasdaq Sinks as Wall Street Weighs Trump's New Trade Threats

Dow Falls Sharply, Nasdaq Sinks as Wall Street Weighs Trump's New Trade Threats

Video: 2018 Is Actually a Normal Year for Stock Market Volatility

Video: 2018 Is Actually a Normal Year for Stock Market Volatility

3 Fierce Chinese Tech Stocks to Gamble on Right Now

3 Fierce Chinese Tech Stocks to Gamble on Right Now

Why Retirees Should Stick With Stocks

Why Retirees Should Stick With Stocks

3 Ways for Retirees to Protect Their Portfolios In Volatile Stock Markets

3 Ways for Retirees to Protect Their Portfolios In Volatile Stock Markets