Immunovant, Inc. (IMVT) Earnings Call Transcript & Summary

Good afternoon. I'm Pete Salzmann, Chief Executive Officer and a Director of Immunovant. I'm very happy to welcome you to the Immunovant 2020 Stockholders' Meeting. Before I call the meeting to order, I'd like to introduce you to the other members of the Board and the executive leadership team who are joining me virtually today. The other members of the Board on the call include Frank Torti, our Board Chairperson; as well as Doug Hughes; George Migausky; Atul Pande and Eric Venker. The executive officers of Immunovant here today are Pam Connealy, our Chief Financial Officer; Julia Butchko, our Chief Development and Technology Officer; and Brad Middlekauff, our General Counsel and Secretary. Also present are Tony Torrington and Joel Wagner from Ernst & Young LLP, Immunovant's auditor. I will be acting as Chairperson of this meeting. Brad Middlekauff will act as secretary of this meeting. The meeting will now officially come to order. We will proceed with the formal business of the meeting as set forth in your notice of annual meeting and proxy statement. After the formal meeting, we will give you an opportunity to ask questions. Will the Secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholders' list? Brad, we don't hear you. [Technical Difficulty]

All right. Sorry, I got cut dropped there somehow.

Great. So yes, will the secretary please report at this time with respect to the mailing of the notice of the meeting and the stockholders' list?

Yes. I have at this meeting a complete list of the stockholders of record of Immunovant's common stock on June 22, 2020, the record date for this meeting. I also have an affidavit certifying that on July 9, 2020, a notice of annual meeting of stockholders of Immunovant was deposited in the United States Mail to stockholders of record at the close of business on June 22, 2020.

Thank you, Brad. At this time, I'd like to introduce Gary Wozniak from Broadridge, who I'm appointing to act as inspector of election at this meeting. Mr. Wozniak has taken and subscribed the customary oath of office to execute his duties with strict impartiality. We will file this oath with the records of the meeting. His function is to decide upon the qualifications of voters, accept their votes, and when balloting on all matters is completed, to tally the final votes. Will the secretary please report at this time with respect to the existence of a quorum?

Thanks. I have been informed by the inspector of election that proxies have been received for approximately 84% of the aggregate voting power of the outstanding shares of common stock entitled to vote at this meeting. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting.

We will now proceed with the formal business of this meeting. There are 2 proposals to be considered by the stockholders at this meeting.

The time is 1:05 p.m. Eastern Time on Wednesday, August 19, and the polls are now open for voting on all matters to be presented. The polls will be closed to voting after we go through the matters to be voted on. The agenda and rules of conduct for the meeting are posted on the annual meeting portal. We ask that you follow these rules to help the meeting run smoothly. We will address questions during the Q&A portion of the meeting. [Operator Instructions].

The first item of business is the election of 3 directors to serve until the 2021 annual meeting and until their successors are elected. The nominees for Director are: Andrew Fromkin; George Migausky and Peter Salzmann. The second item of business today is the ratification of the selection by the audit committee of our Board of Directors of Ernst & Young LLP as the independent registered public accounting firm of Immunovant for the fiscal year ending March 31, 2021. That was the final proposal for today's meeting. The secretary will now describe the voting procedures.

Thanks, Pete. If you have already voted, there is no need to vote now unless you would like to change your vote. [Operator Instructions] We will pause for a moment to give anyone who hasn't yet voted a chance to vote. Each share of common stock is entitled to one vote. [Voting]

The time is now 1:07 p.m. Eastern Time, and the polls are now closed for voting. The report of the inspector of election covering the proposals presented at this meeting is as follows: number one, the proposal to elect each of Andrew Fromkin; George Migausky and Peter Salzmann as a Director is carried. Number two, the selection of Ernst & Young LLP as our independent registered public accounting firm for the fiscal year ended March 31, 2021, is ratified. We expect to report our final voting results in a current form on Form 8-K to be filed with the SEC within 4 business days after the end of this meeting.

This concludes the formal portion of today's meeting. We will now entertain questions from stockholders. There being no questions, the meeting is now adjourned. Thank you, everyone.

This now concludes the meeting. Thank you for joining, and have a pleasant day.