Lumos Pharma, Inc. (LUMO) Earnings Call Transcript & Summary

The time is now 11:03 am on Tuesday, July 28, 2020, 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 first item of business is the election of 2 Class II Directors to serve until the 2023 Annual Meeting and until their successors are elected. The 2 Class 2 Directors are Richard Hawkins and Thomas A. Raffin, M.D. They have each been recommended by our Nominating and Governance Committee and our Board for reelection. We now turn to the election of our Class II Director candidates set forth in the proxy statement. The nominees for Class II Directors are Richard Hawkins and Thomas A. Raffin, M.D. Is there any discussion? The second item of business today is an advisory vote on the executive compensation of the company's named executive officers as described in the proxy statement. The stockholders have been asked to vote on an advisory basis on the following resolution. Resolved that the compensations paid our named executive officers as directed pursuant to Item 402 of Regulation S-K, including the compensation tables and narrative discussion is hereby approved. Is there any discussion? The third and final item of business today is the ratification of the selection by the Audit Committee of the Board of Directors of KPMG as the independent registered public accounting firm of the company for the fiscal year ending 2020. Is there any discussion? That was the final proposal for today's meeting. The secretary will now describe the voting procedures.

Voting is by proxy and electronic ballot. You do not need to vote electronically today if you have already sent in your signed proxy or if you have previously submitted your vote electronically. If there is anyone, whether or not you've already submitted a proxy or voted who now wants to vote, please do so electronically. Each share of common stock is entitled to one vote. [Voting]

The time is now 11:06 AM, and the polls are now closed for voting. We will announce tally of the votes and expect to report our preliminary voting results or, if available to us on a timely basis, our final voting results on a current report on Form 8-K to be filed with the SEC within 4 business days after the end of this meeting. If not earlier reported, we expect to report our final voting results in an amendment to our Form 8-K within 4 business days after the final results are known to us.

This concludes the formal portion of today's meeting. Before we entertain questions from stockholders, I would like to thank our investors who have joined us today. While the COVID pandemic has created some headwinds for our industry, the team at Lumos has continued to work tirelessly to help patients with PGHD and to create value for our investors. One example of this is the sale of our priority review voucher, which was announced yesterday. We will receive $60 million in nondilutive funding, which will further our mission, including advancing global trials for LUM-201 and expanding our pipeline. We plan to provide an update on Lumos Pharma including more details about the PRV sale during our earnings call on August 13. I encourage you all to join us on that call. With that said, I'd like to ask if any of our stockholders on the call today have any questions for management. I want to point out that as with most discussions, our answers to your questions may contain forward-looking statements, and our actual results may differ materially from those discussed here. Additional information concerning factors that could cause such a difference can be found in the company's annual report on Form 10-K for the fiscal year ended December 31, 2019, and in the company's quarterly report on Form 10-Q for the quarter ended March 31, 2020. Is there any discussion or questions? Is there any opposition to concluding this meeting? This meeting is adjourned.

Ladies and gentlemen, this concludes today's conference call. Thank you for participating. You may now disconnect.