Solid Biosciences Inc. (SLDB) Earnings Call Transcript & Summary

Hello and welcome to the Annual Meeting of Stockholders of Solid Biosciences Inc. It is now my pleasure to turn today's meeting over to Ilan Ganot, President and Chief Executive Officer of Solid Biosciences. Mr. Ganot, the floor is yours.

Good morning, and welcome to the 2020 Annual Meeting of Stockholders of Solid Biosciences. I'm Ilan Ganot, President and Chief Executive Officer of Solid Biosciences, and I will be presiding over this meeting. I welcome you, and call the meeting to order. I would like to take a moment, as we get started, to acknowledge the challenging times we are in today amidst the COVID-19 pandemic. Our thoughts are with those who have been affected by this unprecedented situation, and we are thankful to the first responders and health care teams who have been working tirelessly to help those in need. At Solid, as with the rest of the industry, we remain committed to delivering new treatments to patients, and I'm proud of our dedicated team that has continued to advance our important work. Due to the health -- the public health impact of COVID-19 pandemic and to support the health and well-being of our stockholders, employees and communities, this year, we're holding our annual meeting in an all-virtual format and are pleased to have everyone join this live webcast. We have designed this meeting to provide stockholders the same rights and opportunities to participate as they would in an in-person meeting. Before we get to the formal business of the meeting, I would like to make some introductions. Joining us at the meeting today by phone are our Board members: Robert Huffines, Raj Shah, Lynne Sullivan, Matt Arnold, Marty Freed and Adam Koppel. From Solid, we have: Joel Schneider, our Chief Technology Officer; Carl Morris, our Chief Scientific Officer; Lynette Herscha, who is our Chief Legal Officer and Secretary; Jennifer Ziolkowski, our CFO; and Cathryn Clary, our Interim Chief Medical Officer. I would also like to introduce Mark Barsanti, a representative from PricewaterhouseCoopers, our independent registered public accounting firm; [ Frank Elms ], a representative from Computershare, our transfer agent. Mr. [ Elms ] has been appointed to active inspector of elections. And Lia Der Marderosian from WilmerHale, our Corporate Counsel. I will now turn the meeting over to Lynette Herscha, Secretary of the corporation, to conduct the formal part of the meeting.

Thank you, Ilan. In order to conduct an orderly meeting, I call your attention to the rules of conduct posted on the virtual meeting website, which includes information about participating in the meeting, including asking questions. Please note that various remarks that we may make about the future expectations, plans and prospects for the company constitute forward-looking statements for the purpose of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the Risk Factors section of our most recent quarterly report on Form 10-Q, which is on file with the SEC. In addition, these forward-looking statements represent the company's expectations only as of today, June 16, 2020. While the company may elect to update these forward-looking statements, it specifically disclaims any obligation to do so. Any forward-looking statements should not be relied upon as representing the company's estimates or views as of any date subsequent to today. I have received an affidavit from Broadridge certifying that the notice of annual meeting and proxy statement were sent to all stockholders of record as of April 20, 2020, a copy of which will be included in the minutes for this meeting. Our first order of business is to determine whether the shares represented at this meeting, either in person via this virtual meeting or by proxy, are sufficient to constitute a quorum for the purpose of transacting business. Holders of 46,070,724 shares of common stock are entitled to vote at this meeting. The inspector of elections has informed me that they are present at this meeting, either in person or by proxy, a total of 35,608,280 shares of common stock or approximately 77% of all the shares entitled to vote at this meeting. Therefore, I declare a quorum exists. Turning now to the matters to be voted on at this meeting as indicated in the notice of meeting and accompanying documents that were made available to stockholders. The first matter to be voted on is the election of 3 Class II directors to serve until the 2023 Annual Meeting of Stockholders and until their successors are duly elected and qualified. The 3 nominees for election are: Matthew Arnold, Adam Stone and Lynne Sullivan. The next matter to be voted on is the ratification of the selection of PricewaterhouseCoopers as the company's registered public accounting firm for the current fiscal year. The final matter to be voted on is the approval of our 2020 equity incentive plan. [Operator Instructions] It does not seem we have any questions on the proposals at this time. I hereby declare the polls are now open for each matter to be voted upon today. If you have not yet voted or if you've previously voted by proxy and wish to change your vote, you may vote by clicking the voting button on the virtual meeting website and following the instructions there. We will pause briefly to allow stockholders to vote. [Voting]

Now that everyone has had an opportunity to vote, the business items on the agenda for this meeting are complete and the polls are now closed. Will the inspector of election tabulate the vote? We now have a preliminary report for the results of the meeting. Each of the nominees for Director has been elected as a Class II director. The appointment of PricewaterhouseCoopers has been ratified. The 2020 equity incentive plan has been approved. The final vote results will be included in the Form 8-K that will be filed within 4 business days after this meeting. As there is no formal business to come before this meeting, I declare the formal part of this meeting adjourned.

We will now answer appropriate questions from the stockholders. [Operator Instructions] We do have one question submitted regarding the company's relationship with Texas A&M University and Texas A&M University's involved with the testing of SGT-001. Will the Board, please clarify what role, if any, Texas A&M played in development of SGT-001.

Thank you, Lynette, and thanks for the question. We completed the preclinical development of SGT-001 around 3 years ago and have since then been treating patients in the clinic. We are not commenting on specifics of older preclinical experiments.

We have no further questions. If there are no further questions, I declare the formal and the informal part of the meeting over. Thank you, everybody.