X4 Pharmaceuticals, Inc. (XFOR) Earnings Call Transcript & Summary

Good morning, and welcome to X4 Pharmaceuticals Inc. 2021 Virtual Shareholder Meeting. I would now like to introduce the first presenter, Mr. Michael Wyzga.

Good morning. I'm Michael Wyzga from -- I'm the Chairman of X4's Board of Directors. I'd like to welcome everyone to X4's 2021 Annual Meeting of Stockholders. The meeting has officially come to order. The time is now 11 a.m. Eastern Time on Wednesday, June 2, 2021, and the polls are now open for all matters voting to be presented. As you know, we are hosting an annual meeting through a virtual online platform hosted by Broadridge in order to take the appropriate precautions in light of the ongoing COVID-19 pandemic. With that, in mind, I'd like to thank you all for taking the time to join us and hope everybody is safe and well. Before we begin the formal business of the meeting, I'd like to introduce you to the members of the Board and management who are with us today. The other members of the Board who are with us either virtually by the phone or in person today are Paula Ragan, X4's Chief Executive Officer, President and Secretary; Alison Lawton, Gary Bridger, David McGirr, René Russo and Murray Stewart. The other officers of the company that are with us virtually by phone or in person today are Adam Mostafa, the Chief Financial Officer; and Derek Meisner, our General Counsel. I'd also like to introduce Kenneth Richardson, our PricewaterhouseCoopers, our company's auditors; [ Jan Castillo ] of Broadridge and Courtney Thorne of Cooley LLP, the company's legal counsel, who are also with us in attendance virtually or available to responding questions when needed. We'll now proceed with the formal business of the meeting in order to set forth the notice of the annual meeting and the proxy statement. We will first present the 2 proposals submitted for approval by our Board, and then we will take questions on the proposals after all the proposals have been presented. After which, we'll announce the preliminary results of the voting. As I mentioned earlier, the polls are open for voting on all matters to be presented. After I describe each item to be voted on, we will close the polls. We will not accept ballots, proxies, revocations or changes after the closing of the polls. If you've already submitted your vote by proxy and do not wish to change your vote, you do not need to vote now and your shares will be voted as previously instructed. If you intend to vote and have not already done so, you may submit your vote online now in order to be counted. If you have not voted, I would encourage you to do so online now. After the formal portion of our meeting has concluded, we will answer any questions that are appropriate that you might have. You should now have a copy of the rules of conduct for this meeting. In order to conduct an orderly meeting, we ask you to follow these rules. [Operator Instructions] We will try to answer these questions submitted that are both germane to the proposals and/or this meeting as and if we have time. We will respond to any other questions individually following the meeting. Derek Meisner will screen the incoming questions and during the Q&A portion of the meeting, he will read off the germane questions out loud before an X4 officer will respond. Please submit your questions now to make sure that they are timely received, and we can respond and review. Will the Secretary please report at this time with respect to the mailing of the Notice of the Meeting and the shareholders' list?

I have at this meeting a complete list of the stockholders of record of the company's common stock as of April 5, 2021, the record date for this meeting. A list of stockholders of record is available for inspection by stockholders of record during this meeting for any reasons germane to this meeting. Please click on stockholder lists in your online portal to view the list. I also have affidavits certifying that on April 23, 2021, a notice of annual meeting of stockholders of the company was deposited in the mail to all stockholders of record as of the close of business on April 5, 2021.

Thank you. At this time, I'd like to introduce [ Jan Castillo ], a representative of Broadridge, who is present virtually. I'm appointing [ Jan ] to act as the inspector of election at this meeting. Ms. [ Castillo ] has taken and subscribed the customary oath of office to execute her duties with strict impartiality. We will file this oath with our records of the meeting. Ms. [ Castillo's ] function is to decide upon the qualifications of the voters, accept their votes and, when balloting and all met is to be completed, to tally the final votes. Will the Secretary please report at this time with respect to the existence of a quorum.

I have been informed by the inspector of election that proxies have been received for 15,048,073 of the 23,665,660 shares of common stock outstanding on the record date, which represents approximately 64% of the total number of outstanding shares. This constitutes a quorum for the meeting today, and we may now carry out the official business of the meeting.

Thank you again. We will now proceed with the voting portion of the meeting. After all the proposals have been described, we will answer any questions related to the proposals submitted online. As a reminder, we ask that any comments and/or questions during this portion of the meeting pertain only to these proposals. Please submit any questions as soon as possible for your -- our review. There are 2 proposals to be considered by the stockholders at this meeting. Proposal #1 is the election of officers. The first item is the election of the 3 nominees for the director to hold office until the close of the 2024 annual meeting of the stockholders or until his successors are duly elected or appointed or until such director's earlier resignation and/or removal. In accordance with the provisions of our bylaws, the stockholders are required to provide advanced notice of their intent to nominate candidates for the directors. No stockholders have submitted such notice, therefore, I declare the nominations for the directors closed. The nominations for director are: David McGirr, Paula Ragan; and Michael Wyzga. The second item of business today is the ratification of the selection of the Audit Committee of the Board of Directors of PricewaterhouseCoopers LLP as our independent registered public accounting firm for the fiscal year ending December 31, 2021. These are the only proposals for today's meeting. We will now review to see if there are any questions that have been submitted about the proposal before we close the polls. As a reminder, we will review only -- we will only review and answer questions at this time that pertain to the proposals. Please note that our discussion today may include forward-looking statements, and the actual results may differ materially from those discussed here. Additional information concerning factors that could cause for such a difference can be found in any of our recently filed quarterly reports in Form 10-Q. Derek, are there any questions?

There are no questions currently submitted.