Analyst Conference Summary

conference date: February 14, 2018 @ 5:00 AM Pacific Time
for quarter ending: December 31, 2017 (Q4, fourth quarter 2017)

Forward-looking statements

Overview: .

Comparisons to year-earlier periods are pro-forma.

Basic data (GAAP):

Revenue was $ million, up % sequentially from $296.1 million, and up % from $ million year-earlier.

Net income was $ million, down % sequentially from $67.9 million, and down % from $ year-earlier.

EPS (diluted) was $, down % sequentially from $0.63, and down % from $ year-earlier.

Guidance:

.

Conference Highlights:

John Cox, CEO of Bioverativ, said "

Non-GAAP results: net income $ million, down % sequentially from $87.1 million. EPS $, down % sequentially from $0.80.

Eloctate revenue was $ million, up % sequentially from $186.3 million, and up % y/y from $ million.

Alprolix revenue was $ million, down % sequentially from $88.5 million and up % from $ million year-earlier.

Cash and equivalents ended at $ million, up sequentially from $224.1 million. Cash flow from operations was $ million. No debt.

Started a BIVV001 Phase 1/2a study for once weekly or less frequent dosing of FVIII in the second half of 2017.

The BIVV009 phase 3 trials for cold agglutinin disease

ST-400 for beta-thalassemia Phase 1 enrollment should start in the first half of 2018.

Cost of sales was $ million. R&D expense $ million. SG&A expense $ million. Total expenses $ million. Leaving income from operations of $ million. Other income $ million. Income tax expense $ million.

Cost of sales include royalties to Sobi. [But revenue includes Sobi collaboration sales in Europe].

Continues to review tax planning strategies due to the high tax rate.

Vision is to become the leading rare blood disorders company.

Q&A:

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