Q2 2012 Earnings Call Transcript

Transcript Call Date 08/06/2012

Operator: Good day, ladies and gentlemen, and welcome to Isis Pharmaceuticals' Second Quarter Financial Results Conference Call. Leading the call today from Isis is Dr. Stanley Crook, Isis's Chairman and Chief Executive Officer. Dr. Crook, please begin.

Stanley T Crooke - Founder, Chairman and CEO: Good morning and thanks everyone for joining us on today's conference call to discuss our second quarter financial results. Lynne will walk you through our financial results for the second quarter of this year and after that, I’ll give you a brief update on what we’ve accomplished so far this year, and then focus on the important events in the second half of the year.

Joining me on today's call are Lynne Parshall, COO and CFO; Beth Hougen, Vice President of Finance; and Wade Walke, Executive Director of Corporate Communications and Investor Relations. Before we begin, I am pleased to share with you that Kristina has continued to advance her career in Isis and has taken on new responsibilities. She’ll continue to be an integral part of the Isis team in her new role leading our Patient Advocacy Relations Group. While we’ll miss Kristina’s efforts in our Investor Relations activity, Kristina’s science and nursing background coupled with her vibrant and caring personality – Kristina obviously wrote this – make her a great choice to spearhead this new endeavor. Actually I agree with all that.

So with that I’d like to introduce the newest member of our Investor Relations team. Please join me in welcoming Wade Walke who will head up our Corporate Communications team. Wade holds PHD in Biochemistry from the University of Michigan and completed the postdoctoral training in St. Jude’s Children's Research Hospital and The Scripps Research Institute. Manny of you may know Wade from this previous positions at Lexicon Pharmaceuticals where he was Head of Corporate Communication and Investor Relations Department for the past six years, so please welcome Wade and Wade your first formal task is to present our forward looking language.

D. Wade Walke - ED, Corporate Communications and IR: Thanks, Stan. Good afternoon, everyone. A reminder to everyone this webcast includes forward-looking statement regarding Isis' business, the financial outlook for Isis and the therapeutic and commercial potential of Isis technology and products in development. Any statement describing Isis' goals, expectations, financial or other projections, intentions or beliefs including the planned commercialization of KYNAMRO 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 drugs that are safe and effective for use of human therapeutics, and in the endeavor of building a business around such drugs. Isis' forward-looking statements also involve assumptions that if they never materialize or prove correct, could cause its results to differ materially from those expressed or implied by such forward-looking statements.

Although Isis' forward-looking statement reflects the good faith judgment of its management, these statements are based only on facts and factors currently known by Isis. As a result, you are cautioned not to rely on these forward-looking statements. These and other risks concerning Isis programs are described in additional detail in Isis' Annual Report on Form 10-K for the year ended December 31, 2011, and it’s most recent quarterly report on Form 10-Q which are on file with the SEC. Copies of these and other documents are available from the Company.

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