is currently serving as a principal investigator in the Center for Gene Therapy at the Research Institute at NCH. NCH is a leading pediatric gene therapy research institute.
execute on AveXis' mission, we have assembled a management team that includes individuals with expertise in gene therapy, regulatory development, product development, manufacturing
and commercialization, with a history of success in building and operating innovative biotechnology and healthcare companies focused on rare and life-threatening diseases. This team is led by our
President and Chief Executive Officer, Sean P. Nolan, who brings 24 years of broad leadership and management experience in the biopharmaceutical industry to AveXis. Most recently he was the
chief business officer of InterMune, Inc. where he led multiple functions across the organization, including North American commercial operations, global marketing, corporate and business
development, and global manufacturing and supply chain. Our other management team members also have successful track records developing and commercializing drugs through previous experiences at
companies such as Abbott Laboratories, Amgen, Auspex, InterMune, Hospira, Novartis, Pfizer, Daiichi Sankyo and Quest Diagnostics.
We have been supported by a leading group of biotech investors including funds and accounts managed by Adage Capital Management, L.P., Boxer Capital of Tavistock Life Sciences,
Deerfield Management, Foresite Capital Management, LLC, Janus Capital Management LLC, QVT Financial LP, RA Capital Management, Roche Finance Ltd, Rock Springs Capital
Management LP, RTW Investments, LLC and Venrock.
We estimate that as of December 31, 2015, our cash and cash equivalents was approximately $62 million. Our independent
registered public accountants have not audited, reviewed or performed any procedures with respect to this financial data and accordingly do not express an opinion or any other form of assurance with
respect thereto. This result could change as a result of further review.
Risks Associated with Our Business
Our ability to successfully operate our business is subject to numerous risks, including those that are generally associated with
operating in the pharmaceutical industry. An investment in our shares involves a high degree of risk. Any of the factors set forth under "Risk Factors" in this prospectus may limit our ability to
successfully execute our business strategy. You should carefully consider all of the information set forth in this prospectus and, in particular, you should evaluate the specific factors set forth
under "Risk Factors" in deciding whether to invest in our shares. Some of the principal risks relating to our business and our ability to execute our business strategy
- We have incurred net losses since inception and anticipate that we will continue to incur net losses for the foreseeable future and
may never achieve or maintain profitability.
- We have never generated revenue from product sales and may never be profitable.
- The development and commercialization of AVXS-101 or any other product candidates we may develop, is subject to many risks. If we do
not successfully develop and commercialize any product candidate, our business will be adversely affected.
- AVXS-101 is based on a novel technology, which makes it difficult to predict the time and cost of development and of subsequently
obtaining regulatory approval. To our knowledge, no gene therapy product has been approved in the United States and only one such product has been approved in the European Union.