Earnings Call Excerpt
PDL BioPharma Q4 2005 Results Conference Call (PDLI)
February 27, 2006
Executives
Ami Knoefler, Sr. Director Corporate Investor Relations
Mark McDade, Chief Executive Officer
Steven Benner, Chief Medical Officer
Analysts
Bret Holley, CIBC World Markets
Eric Hoffman, JP Morgan
Joel Sendek, Lazard Capital Markets
Craig Parker, Lehman Brothers.
Tom McGarrin, Merrill Lynch
Phil Nadeau, SG Cowen
Catherine Xu, Pacific Growth Equities
Jason Zhang, Prudential Equity Group
Presentation
Ami Knoefler, Sr. Director Corporate Investor Relations
Good afternoon everyone and thank you for joining us today. With me are Mark McDade, Chief Executive Officer and Dr. Steven Benner, our Chief Medical Officer and for Q&A we will also be joined by George Jue, PDL’s Vice President of Finance and Chief Accounting Officer.
During today’s call we will begin by reviewing our 4th quarter and full year 2005 financial results. Steve will then provide an overview of recent clinical highlights and Mark will discuss our ’06 financial guidance and provide a quick recap of our five year plan, vision 2010.
Let me remind you that the information we’ll cover today covers forward looking statements regarding our financial performance, clinical milestones and other matters and out actual results may differ materially from those expressed or implied in the forward looking statements. Factors that may cause differences between current expectations and actual results are described in our filings with the SEC. I’ll now turn the call over the Mark McDade, PDL Biopharma’s CEO.
Mark McDade, CEO.
Thanks, Ami and thanks to all of you for joining us today.
I’m very pleased to welcome you to PDL Biopharma’s first official earnings call. In conversations with numerous investors and analysts in 2006, many of you have commented on the degree of difference at PDL. We have changed. Changed so much that we changed our name, adding Biopharma to better reflect our status as a commercially capable biopharmaceutical company, while retaining our heritage with PDL as the leader in the antibody space. The new PDL is a dynamic enterprise, staffed by just over 1,000 employees, with three proprietary marked products, a focus on the acute care hospital marketplace and an exciting pipeline of 6 novel programs, four antibodies and two peptides, that address significant and unmet medical needs.
2005 was a remarkable and productive year for all of us involved with PDL. We achieved our commercialization goal 2 years ahead of schedule. We bought a company and another product; we announced positive trade 2 data
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