Pharmacyclics, Inc. (PCYC)

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Pharmacyclics Inc. (PCYC)

ASH 2012 Recap Conference Transcript

December 12, 2012 8:30 AM ET


Ramses Erdtmann - Vice President, IR, Education and Training

Bob Duggan - Chairman and CEO

Dr. Maky Zanganeh - Chief Operating Officer

Dr. Lori Kunkel - Chief Medical Officer

Paula Boultbee - Executive Vice President, Sales and Marketing

Josh Brumm - Executive Vice President, Finance

Dr. Maria Fardis - Executive Vice President, Operations and Alliances

Dr. Jesse McGreivy - Vice President, Clinical Science

Dr. Joe Buggy - Vice President, Research

Rich Love - Vice President, Legal


Geoffrey Porges - Sanford Bernstein

Alan Carr - Needham & Company

Ian Somaiya - Piper Jaffray

Brian Lian – SunTrust

James Cole - Lazard Capital Markets

Howard Liang - Leerink Swann

Joel Sendek - Stifel Nicolaus

Brian Skorney - R.W. Baird

Charmaine Chan - RBC Capital Markets



Greetings. And welcome to the Pharmacyclics ASH 2012 Recap Call. At this time, all participants are in listen-only mode. A brief question-and-answer session will follow the formal presentation. (Operator Instructions)

As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Ramses Erdtmann. Thank you, sir. You may begin.

Ramses Erdtmann

Thank you, Dan. Good morning. And thank you for joining us for our conference call today. With me on the call today and available to answer questions are our CEO and Chairman of the Board, Bob Duggan; our Chief Operating Officer, Dr. Maky Zanganeh; our Chief Medical Officer, Dr. Lori Kunkel; our Executive Vice President, Sales and Marketing, Paula Boultbee; our Executive Vice President, Finance, Josh Brumm; Dr. Maria Fardis, our Executive Vice President of Operations and Alliances; and I hope they have made it to dial in from California is Dr. Jesse McGreivy, our Vice President of Clinical Science; and our Vice President of Research, Dr. Joe Buggy; and Rich Love, our Vice President of Legal.

Our agenda for today's call will focus on the ASH presentation we just highlighted in our press release. We will not go through each program individually in our official remarks, but rather have Bob provide a high level summary of ASH and then open the floor for questions. We will limit the call today to one hour. All our ASH presentations are uploaded to our website under www.pcyc.com in the IR section. We invite you to explore these presentations.

Before we start, let me remind you that this non-confidential presentation contains forward-looking statements about the business prospects of Pharmacyclics, including expectations regarding Pharmacyclics' financial performance, commercial product and potential future products in different areas of therapeutic research and development.

Results may differ materially depending on the progress of Pharmacyclics' product program, action, actions of regulatory authorities, availability of capital, future actions in pharmaceutical market and developments by competitors and those factors detailed in Pharmacyclics' filings with the SEC, such as 10-Q, 10-K and 8-K reports.

I would now like to turn the call over to Bob Duggan, our CEO and Chairman of the Board. Bob?

Bob Duggan

Thank you, Ramses. We are dialing in today from Atlanta, where we attended ASH, the Annual Meeting of the American Society of Hematology. Over the past year we have made tremendous clinical progress, which we have shared here in Atlanta with our peers. ASH is one of the two events in a year where we typically provide clinical and preclinical updates from our investigators and scientific collaborators.

At this Annua Meeting over 5000 abstracts were initially submitted showing clinical and preclinical advances in Hemotology. About 3000 of these abstracts were expected and presented as posters and about 1000 were accepted and presented in oral sessions.

Pharmacyclics and our investigators published nine posters and gave nine oral presentations. Since 2008 this is the highest ever for Pharmacyclics as they reviewed preclinical and clinical presentations at this meeting and real accomplishment for our team.

This presentation represents hard smart work and scientific rigor from our investigators, our clinical and scientific staff, our researchers and our collaborators. They demonstrated advances which increase our understanding of the mechanisms of action of our drug, the effectiveness in certain cancer type and they demonstrate opportunities to explore ways to help our patients in need increasingly friendly, body-harmonious therapy, welcome to summer now calling this coming new era.

This year there were 16 presentations showing clinical and preclinical results with our lead compound ibrutinib, two of the oral presentations achieved unusual recognition. One was led by investigator John Byrd of the Ohio State University and showed ibrutinib results in treatment-naive and relapsed/refractory chronic lymphocytic leukemia CLL patients.

The other one was led by investigator Dr. Jan Burger of MD Anderson, who presented data showing ibrutinib use in combination in high risk patients with relapsed/refractory CLL.

Both of these presentations were highlighted in the ASH Press Program on Saturday. ASH brings together over 20,000 attendees and over 250 American and international journalist to cover latest developments in the field.

The Press Program guide report -- report this to the studies that program committee has found to be of great interest to the public. Both of these presentations were also included in “The Best of ASH” category, which was announced yesterday.

This year there were only 25 presentations in total that were recognized as “Best of ASH” and we are very pleased that ibrutinib with the help of our collaborators has achieved this recognition in two of our studies.

Together with our extraordinary partner Janssen we have now successfully entered three pivotal Phase III trial programs now broadly developing ibrutinib at multitude of hematologic cancer study.

The results we have shown over the past couple of days and highlighted in our press release today have been very encouraging and demonstrate our commitment to a comprehensive and broad development program, there is wide acclaim that substantive progress has been generated.

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