Krystal Biotech, Inc. (KRYS) Earnings Call Transcript & Summary

Good afternoon, ladies and gentlemen, and welcome to the Krystal Biotech Annual Shareholder Meeting. At this time, the meeting will begin. It is now my pleasure to turn the floor over to your host, Krish Krishnan. Sir, the floor is yours.

Thank you. Good afternoon. I'm Krish Krishnan, Chief Executive Officer and Chairman of the Board of Directors of Krystal Biotech, and it's my pleasure to welcome you to our 2020 Annual Meeting of Shareholders. We're glad you're joining us today for our first virtual shareholders meeting, and we appreciate your continued support of Krystal. I'll start the business of this meeting by introducing Chris Naftzger, our Chief Legal Officer, who will serve as secretary of this meeting. Now I want to take a moment to recognize our Board members who may be listening into this meeting: Dan Janney, our lead independent Director; Dino Rossi; Julian Gangoli; Kirti Ganorkar; and Suma Krishnan. I also want to recognize the many contributions of Douglas Norby, who passed away last month. I want to recognize his contributions to the Board and the company. He was a good friend, a strong supporter of Krystal since the company was formed by Suma and I, and we will miss him very much. Also on this call is Steve Fanucchi of our audit firm, Mayer Hoffman McCann. The meeting will now come to order. Our first action in the general order of business will be to review the motions to be considered, then we will vote on those motions. After the voting, we will receive a report on the voting results, which will conclude the formal business of the meeting. We will then adjourn the meeting and entertain any questions you have about Krystal. So to begin, I will ask Chris to introduce our inspector of elections and to confirm that notice of this meeting was properly given and attest to the presence of a quorum. Chris?

Thank you, Krish. Kathryn Romano has been appointed our inspector of elections to ascertain the number of shares outstanding and the voting power of each, to determine the shares represented at the meeting and the validity of the proxies and ballots, to count all votes and determine the results of the voting. I've received her written oath of office as inspector, and she has presented me with evidence that notice of this meeting was properly given to all stockholders of record as of the close of business on the record date. Based on the information provided to me by the inspector of elections, I find that a quorum is present for the purpose of conducting business at this meeting. All holders of the company's common stock as of the close of business of April 1, 2020 are entitled to vote at this meeting, either in person or by proxy, and all business to come before this meeting.

Thank you, Chris. The items to be considered at this meeting are the items set forth in detail in the notice of the 2020 Annual Meeting of Stockholders and proxy statement of the company, each dated April 14, 2020, and mailed or made available to stockholders of the company. The first item of business on our agenda is the election of 2 Class III directors to serve until the 2023 Annual Meeting of Stockholders or until their respective successors shall have been elected and qualified. Krish Krishnan and Kirti Ganorkar have been nominated to serve as directors. Mr. Naftzger has advised me that there were no nominations by stockholders submitted to the company prior to this meeting in accordance with the bylaws. Therefore, I declare the nominations closed. The second item on our agenda is the ratification of the selection of Mayer HoffMan McCann as the company's independent registered public accounting firm for the 2020 fiscal year. Are there any questions at this time pertaining to these issues? Mr. Naftzger, maybe open the polls?

Yes. I now declare the polls for this meeting to be open. If there's any stockholder present who has not authorized the proxy to vote and wishes to vote in person or who wishes to revoke a proxy previously submitted, please vote now on the website you are listening to this meeting on. After the results have been -- after the votes have been cast and the polls closed, I will announce the preliminary results. [Voting]

Okay. All ballots have been submitted, and I now announce that the polls for this meeting are closed. On the motion for the election of 2 Class III directors, a plurality of the votes cast at this meeting were cast in favor of the election of Krish Krishnan and Kirti Ganorkar. On the motion for the ratification of the appointment of Mayer Hoffman McCann as the company's independent registered public accounting firm for the 2020 fiscal year, a majority of the votes cast at this meeting were cast in favor of ratification.

Thank you, Chris. I declare that the proposed slate of directors has been duly elected. The appointment of Mayer HoffMan McCann as our independent registered public accounting firm for the 2020 fiscal year has been duly ratified. I hereby direct the results of the voting to be incorporated into the minutes of this meeting. The business for which this meeting has been held is now complete, and I declare the meeting formally adjourned. We will now answer any questions the shareholders have about the company, which can be submitted on the company website. Mr. Naftzger, are there any questions from shareholders?

No, there are no questions from shareholders.

Any -- if there are no other questions, I want to thank you all for coming today. Thanks again.

Thank you. Ladies and gentlemen, this does conclude today's shareholder meeting. Thank you for your participation, and have a wonderful day.