Phathom Pharmaceuticals, Inc. (PHAT) Earnings Call Transcript & Summary

Good morning, and welcome to the 2020 Annual Shareholders' Meeting of Phantom Pharmaceuticals, Inc. I'm Terrie Curran, President and Chief Executive Officer of Phantom. It is my pleasure to welcome you here today for this, our first Annual Shareholders Meeting. I'd like to introduce the Chairman of Phantom, Dr. Tachi Yamada. Tachi?

Thank you, Terrie, and welcome, everyone. Thank you for joining us today. We're excited to be hosting our virtual meeting with shareholders attending via by webcast. To help us conduct an orderly meeting, we ask that shareholders abide by the rules of conduct available through the link on the webcast screen. It is now shortly after 9:45 a.m. Eastern Time on May 21, and this meeting is officially called to order. In light of the virtual meeting format, the polls are open now and shareholders can vote by clicking on the vote here button on the bottom of the webcast screen. All members of Phantom's Board of Directors are attending today's meeting through this webcast. Also attending today's webcast are members of Phantom's senior management team and a representative of Ernst & Young LLP, the company's registered public accountant. Now it's my pleasure to introduce Phantom's General Counsel and Corporate Secretary, Larry Miller. Larry will act as Secretary of the meeting and will discuss some procedural matters with you.

Thank you, Tachi. Please note that this meeting is being recorded and will be available for replay at www.virtualshareholdermeeting.com/PHAT2020. However, no one attending via the webcast is permitted to use any audio recording device. And finally, the company has appointed me to act as inspector of election. And earlier today, I took the oath of the inspector of election. The agenda and rules of conduct for this meeting are posted with other meeting materials at the bottom of the webcast screen. The procedures we are following are simple and are designed to ensure that we have a fair and orderly meeting. As Tachi explained, the polls are open. Most of you who have already voted by proxy and the proxy votes have been tallied. If you want to vote now or change your vote, you can click on the vote here button at the bottom of the webcast screen. Polls will stay open until the conclusion of the review of the matters to be voted on. Shareholders may submit questions electronically during the meeting by typing the question in the box at the bottom of the webcast screen. Your question will not be visible to other participants. Questions received will not be answered live, but we will consider response following the conclusion of the meeting in accordance with the procedural rules. This could include a response directly to the shareholder who asked the question, or posting a response to the Investor Relations section of the company's website, depending on the subject matter and relevance of the question. Please limit yourself to one question. This meeting is being held pursuant to proper notice. 28,964,506 shares of common stock were outstanding and entitled to vote at this meeting as of March 27, 2020, the record date of this meeting set by the company's Board of Directors. Proxies representing a majority of these shares have been received, and therefore, a quorum is present, and the meeting should proceed. We will now review the matters to be voted on. Proposal 1 is the election of two Class 1 directors. The current Board has nominated Terrie Curran and Mark Stenhouse for election as directors to hold office until the 2023 Annual Meeting of Shareholders or until their successors are duly qualified. Proposal 2 is the ratification of Ernst & Young LLP as the company's independent registered public accounting firm for the year ending December 31, 2020. Now that we have reviewed the matters to be voted on at the meeting. The polls for the 2020 Phantom Pharmaceuticals Annual shareholder's meeting are closed.

Larry, do we have preliminary voting results?

Yes, we do. The preliminary vote report shows that the nominees for election to the Board have been duly elected and the ratification of Ernst & Young LLP as the company's independent registered public accounting firm has received sufficient for votes to be approved. We will be reporting the final vote results in a Form 8-K to be filed within 4 business days.

Thank you, Larry. There being no further business to come before the meeting, the 2020 annual meeting of shareholders of Phantom Pharmaceuticals is now adjourned. Thank you all for joining us today.

The meeting has now concluded. Thank you for attending today's presentation. You may now disconnect.