Amicus Therapeutics, Inc. (FOLD)

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Amicus Therapeutics, Inc. (FOLD)

Q3 2012 Results Earnings Call

November 5, 2012 5:00 PM ET


Sara Pellegrino - Associate Director, Investor Relations

John Crowley - Chairman and CEO

Bradley Campbell - Chief Business Officer

Pol Boudes - Chief Medical Officer

David Lockhart - Chief Scientific Officer

Chip Baird - Chief Financial Officer


Ritu Baral - Canaccord

Anupam Rama - J.P. Morgan

Bill Tanner - Lazard Capital Markets

Mayank Gandhi - Capstone Investments



Good day, ladies and gentlemen. And welcome to the Amicus Therapeutics Third Quarter 2012 Results Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session, and instructions will follow at that time. (Operator instructions)

As a reminder, this conference call is being recorded. I would now like to introduce your host for today’s conference, Ms. Sara Pellegrino, Associate Director of Investor Relations. Ma’am, you may begin.

Sara Pellegrino

Good afternoon. And thank you for joining our conference call to discuss our third quarter 2012 financial results. Speaking on today’s call we have John Crowley, our Chairman and Chief Executive Officer; Bradley Campbell, our Chief Business Officer; Pol Boudes, our Chief Medical Officer; David Lockhart, our Chief Scientific Officer; and Chip Baird, our Chief Financial Officer. They are all available to participate in the Q&A session as well.

Today’s prepared remarks coincide with the slide presentation that is now available on our corporate website at The slides are located in the Investors section under Events and Presentations right below the webcast link to today’s call.

On slide two, we have a reference to forward-looking statements. This conference call and presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business, operations and financial conditions of Amicus, including, but not limited to, preclinical and clinical development of Amicus’ candidate drug products, the timing and reporting of results from preclinical studies and clinical trials evaluating Amicus’ candidate drug products, the projected cash position from the company and business development and other transactional activities.

Words such as but not limited to, look forward, to, believe, expect, anticipate, estimate, intend, plan, would, should and could, and similar expressions or words identify forward-looking statements.

Although Amicus believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, there can be no assurance that its expectations will be realized.

Actual results could differ materially from those projected in Amicus’ forward-looking statements, due to numerous known and unknown risks and uncertainties including the risk factors described in our quarterly report on Form 10-Q for the quarter ended June 30, 2012, all forward-looking statements are qualified in their entirety by this cautionary and Amicus undertakes no obligation to revise or update its release to reflect events or circumstances after the date hereof.

So, at this time, it is my pleasure to turn the call over to John Crowley, Chairman and Chief Executive Officer of Amicus.

John Crowley

Great. Thank you, Sara. Good evening, everybody. And thank you for joining us on our Q3 conference call. I’ll direct you to the agenda slide, slide number three of the presentation.

I’ll begin the presentation and go through some of the major corporate highlights for Amicus. And then the bulk of the presentation I’ll turn over to some of our senior team at Amicus, who I’m joined by here this evening.

The Fabry monotherapy program updates I’ll cover briefly and then turn over some of the clinical, including some of the data -- very exciting data from the American Society of Nephrology meeting in San Diego this past weekend to our Chief Medical Officer, Dr. Pol Boudes.

And then we also have our Chief Business Officer, Bradley Campbell, as well as our Chief Scientific Officer, Dr. David Lockhart, who will go through some additional results, especially in our chaperone-ERT program for both Fabry and Pompe.

I’ll then turn the call over to Chip, our Chief Financial Officer and Chip will take us through the 3Q ‘12 financial results and fiscal year ‘12 guidance. And then, I’ll conclude the call with upcoming milestones and final remarks.

Just briefly to turn your attention to slide number four, you’ll see the headline of this slide is related to hurricane, the Superstorm Sandy that struck the East Coast and particularly devastated New Jersey last week.

You’ll see the headline there that the Amicus’ New Jersey facility and operations remained intact and fully functional. I just want to ensure -- assure everybody on this call that we certainly at Amicus took this as with all natural disaster threats very seriously at Amicus.

We came through the storm thankfully fine. We are fully functional and operational. The picture that you see on that slide was actually taken this morning from in front of our building, so you can see some of the work going on at Amicus.

We have 300-kilowatt generator that powers the facility. Thankfully we only lost our power for a short while. We did have our facility’s team in the building here throughout. We did have backup contingency plans, if any of our experiments needed to be moved to places with power, including transferring some of that to a GSK facility temporarily. Thankfully, we didn’t have to do that. We’re only out of the building Monday and Tuesday during the storm and then back in the facility on Wednesday.

So, Amicus, thankfully, made it through the storm well. Certainly many of our communities, including the communities that many of our employees live in were particularly affected and many of our Amicus team are helping the volunteers to the Red Cross and other agencies.

Read the rest of this transcript for free on