NASHVILLE, Tenn., June 10, 2025 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management increased to $803 billion during May 2025 from $781 billion at the end of April. The 2.8% increase in month-end AUM was driven by market appreciation, partially offset by net outflows. By channel, private wealth experienced slight inflows, which were offset by institutional and retail outflows.  AllianceBernstein ...

PRESS RELEASE AB SCIENCE ANNOUNCES EMA APPROVAL OF MASIVET® SHELF-LIFE EXTENSION TO 4 YEARS Paris, June 9, 2025, 8am CET AB Science SA (Euronext - FR0010557264 - AB) today announced that the European Medicine Agency (EMA) has approved the extension of the shelf-life of its veterinary medicine MASIVET® from 36 months to 48 months. This shelf-life extension applies to the 50mg tablet strength of MASIVET® currently available in the EU. MASIVET® is currently approved for the treatment of non-resectable dog mast ...

Company Overview - AB Science S.A. is a pharmaceutical company founded in 2001, specializing in the research, development, and commercialization of protein kinase inhibitors (PKIs) [5] - The company is headquartered in Paris, France, and is listed on Euronext Paris under the ticker AB [5] - AB Science focuses on diseases with high unmet medical needs, including oncology, neurological diseases, inflammatory diseases, and viral diseases [5] Recent Capital Increase - AB Science announced a capital increase of €1.8 million, which was settled and delivered on May 23, 2025 [1] - This capital increase was subscribed by a limited number of investors and is expected to strengthen the company's cash position [2] Product Development - Masitinib is a novel oral tyrosine kinase inhibitor being developed to target mast cells and macrophages, with potential applications in oncology, inflammatory diseases, and central nervous system diseases [3] - AB8939 is a new synthetic microtubule-destabilizing drug candidate that shows broad anticancer activity and may overcome drug resistance associated with standard chemotherapies [4]

Core Viewpoint - AB Science S.A. successfully completed a private placement raising EUR 1.8 million to finance ongoing activities, particularly focusing on the clinical development of the AB8939 program [1][3]. Group 1: Private Placement Details - The private placement involved the issuance of 1,538,463 new ordinary shares, each with one share warrant attached, without preferential subscription rights [4]. - The issue price of one ABSA was set at EUR 1.17, reflecting a 24.8% discount to the volume-weighted average price over the three trading days prior [6][7]. - The total share capital post-placement will be EUR 661,764.30, comprising 59,368,757 ordinary shares, with potential increases if all BSAs are exercised [11]. Group 2: Use of Proceeds - The net proceeds from the private placement will primarily be allocated to the clinical development of the AB8939 program [3]. Group 3: Shareholder Impact - The issuance of ABSAs will result in a dilution of existing shareholders' stakes, with specific percentages outlined for major shareholders before and after the placement [12][14]. - The theoretical value of each BSA is estimated at EUR 0.4053, based on a volatility of 34.355% [9]. Group 4: Trading and Listing - The new shares are expected to be admitted to trading on Euronext Paris on May 22, 2025, and will be assimilated to existing shares [16]. - The BSAs are anticipated to be listed on Euronext Growth Paris by May 26, 2025 [10]. Group 5: Company Overview - AB Science specializes in the research, development, and commercialization of protein kinase inhibitors, targeting diseases with high unmet medical needs [25]. - The lead compound, masitinib, is being developed for various medical applications, including oncology and inflammatory diseases [25][23].

Core Viewpoint - AB Science has received a Chinese patent for the use of its lead compound masitinib in treating COVID-19, providing intellectual property protection until April 2041 [1][3]. Group 1: Patent and Intellectual Property - The Chinese Patent Office issued a patent for methods of treating SARS-CoV-2 infection with masitinib, ensuring protection until April 2041 [1]. - This patent is based on preclinical data published in the journal Science, demonstrating masitinib's efficacy against SARS-CoV-2 variants [3]. Group 2: Research and Collaboration - AB Science has entered into a collaborative research agreement with the University of Chicago to explore the prevention and treatment of COVID-19 using masitinib and other proprietary drugs [2]. - The agreement includes a royalty-bearing license for any discoveries made, with AB Science paying 1% of net sales on the first registered product and 0.3% on further registered products to the University of Chicago [2]. Group 3: Clinical Results - Positive results from a phase 2 study of masitinib in COVID-19 were recently communicated, confirming its anti-inflammatory activity and potential as a broad antiviral agent [4]. - Professor Olivier Hermine highlighted masitinib's capacity to control activated macrophages and mast cells involved in COVID-19, suggesting its evaluation in future pandemics [4]. Group 4: Company Overview - AB Science, founded in 2001, specializes in the research, development, and commercialization of protein kinase inhibitors targeting diseases with high unmet medical needs [6]. - The company is headquartered in Paris, France, and is listed on Euronext Paris under the ticker AB [7].

Core Insights - Masitinib demonstrates neuroprotective effects by lowering serum neurofilament light chain (NfL), a key biomarker for neurodegenerative disorders such as multiple sclerosis, amyotrophic lateral sclerosis, and Alzheimer's disease [1][4][6] Group 1: Research Findings - The study published in PLOS One shows that masitinib can significantly reduce serum NfL levels, indicating its potential neuroprotective effects [1][3] - At Day 8, masitinib treatment reduced NfL levels by 43% at a dosage of 50 mg/kg/day and by 60% at 100 mg/kg/day, demonstrating a dose-dependent response [5][11] - Absolute serum NfL concentrations were approximately 25% lower in both masitinib treatment groups compared to the EAE control group at Day 8, with further reductions observed at Day 15 [5][6] Group 2: Mechanism of Action - Masitinib targets the innate neuroimmune system, specifically mast cells and microglia, which are implicated in the pathophysiology of neurodegenerative diseases [4][7] - The drug has shown clinical benefits in previous trials for progressive multiple sclerosis, ALS, and mild-to-moderate Alzheimer's disease, reinforcing its therapeutic promise [4][6] Group 3: Functional Performance - Masitinib treatment improved grip strength in EAE mouse models, with treated mice recovering to baseline levels by Day 15, indicating a protective effect on motor function [11] - Both treatment groups exhibited significantly less relative deterioration in grip strength compared to the EAE control group (p < 0.001) [11]

Financial and Corporate Situation - AB Science reported an operating deficit of €6.1 million as of December 31, 2024, a decrease of 55% compared to €13.4 million in 2023 [6][26] - The cash position stood at €8.0 million as of December 31, 2024 [6] - Operating income increased by 10% to €1.072 million in 2024 from €0.970 million in 2023 [27] - Operating expenses decreased by 50%, amounting to €7.244 million less than in 2023 [27][28] Clinical Development - AB Science provided updates on the AB8939 microtubule program, which targets relapsed/refractory acute myeloid leukaemia (AML) [3][4] - The Phase 1 study of AB8939 included 28 patients, assessing the maximum tolerated dose after 3 consecutive days of treatment, with a second stage nearing completion for 14 consecutive days [4][5] - AB8939 showed a 50% response rate against the MECOM gene rearrangement, which is associated with poor prognosis in AML [7][8] Masitinib Platform - Positive results were reported from the Phase 2 study of masitinib in COVID-19, with an odds ratio of 2.4 in favor of the treatment arm after 15 days [16][18] - The European Medicines Agency (EMA) issued a negative opinion for the conditional marketing authorization of masitinib in ALS [19] - A new confirmatory study for masitinib in ALS will be launched, targeting the best responders [21] Intellectual Property Developments - AB Science secured intellectual property rights for AB8939 in AML until 2036 and potentially until 2044 for specific chromosomal abnormalities [8] - New patents were granted for masitinib in the treatment of severe systemic mastocytosis, sickle cell disease, and other indications, extending protection until 2041 or 2042 [23][25][24] Capital Increase and Financial Strategy - A capital increase of €5 million was announced through the issuance of 5,368,725 new ordinary shares [31][34] - The proceeds from the capital increase will support AB Science's activities over the next twelve months [36] - The company has engaged in a Term Capital Increase Program (PACT) with Alpha Blue Ocean, which has provided additional funding [37] Market Position and Analyst Coverage - AB Science has received coverage initiation from DNA Finance and In Extenso Finance, with strong buy opinions indicating a compelling investment opportunity in the biotech sector [41][42]

Core Insights - AB Science announced new data from its phase 3 trial of masitinib in amyotrophic lateral sclerosis (ALS), which will be presented at the ENCALS annual meeting in June 2025, indicating masitinib's potential as a disease modifier [1][2] - The clinical benefit of masitinib is particularly pronounced in a subgroup of ALS patients prior to complete loss of function, supporting the rationale for a phase 3 confirmatory study [2] Company Overview - AB Science, founded in 2001, specializes in the research, development, and commercialization of protein kinase inhibitors (PKIs) targeting diseases with high unmet medical needs [3][4] - The company's lead compound, masitinib, is already registered for veterinary use and is being developed for human medicine across various fields including oncology and neurological diseases [4] Clinical Findings - New analyses show that masitinib reduces serum neurofilament light chain (NfL) levels, suggesting a decrease in neuronal damage and supporting its disease-modifying potential in ALS [1][2] - Subgroup analyses indicate significant treatment effects in ALS patients before complete loss of function, with notable improvements in clinical endpoints and a +12-month survival benefit [2]

Company Announcement - AB Science SA has postponed the publication of its 2024 annual financial report from April 30, 2025, to May 9, 2025, to allow auditors to complete their work [1][2] Company Overview - AB Science, founded in 2001, is a pharmaceutical company focused on the research, development, and commercialization of protein kinase inhibitors (PKIs) targeting diseases with high unmet medical needs [3] - The company's lead compound, masitinib, is registered for veterinary medicine and is being developed for human medicine in areas such as oncology, neurological diseases, inflammatory diseases, and viral diseases [4] Additional Information - AB Science is headquartered in Paris, France, and is listed on Euronext Paris under the ticker AB [4] - Further information can be found on the company's website [5]

Financial Data and Key Metrics Changes - Adjusted earnings per unit for Q1 2025 were 80¢, up 10% year-over-year, reflecting strong markets and organic growth [47] - Net revenues for Q1 2025 were $838 million, down 5% year-over-year but up 6% on a like-for-like basis [48] - Base management fees increased by 8% year-over-year, while performance fees rose to $39 million, an increase of $12 million from the prior year [49] Business Line Data and Key Metrics Changes - Firm-wide active net inflows reached $2.7 billion, with all three distribution channels showing organic growth [10] - Fixed income strategies generated $1 billion in active inflows, despite $1.4 billion in taxable outflows [11] - Retail tax-exempt AUM grew to $46 billion, more than doubling since 2020, with a 19% annualized growth rate [12] Market Data and Key Metrics Changes - Institutional sales inflows rebounded to the highest level since Q4 2022, driven by alternative deployments [37] - Retail channel saw its seventh consecutive quarter of positive net flows, with strong demand for tax-exempt strategies [33] - Active equity outflows moderated to $2.5 billion, with retail flows turning positive [13] Company Strategy and Development Direction - The company is expanding its private market platform and aims to grow private market AUM to $90 billion to $100 billion by 2027 [22] - Focus on diversifying growth avenues and deepening partnerships, particularly in private credit and asset-based finance [14] - The company emphasizes a diversified asset mix to provide downside protection against market volatility [17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term prospects for fixed income despite current market volatility [77] - The company anticipates continued strength in its tax-exempt franchise and growing ETF offerings [73] - Management remains cautious about potential impacts from policy changes regarding municipal bonds but believes in the resilience of the muni market [95] Other Important Information - The effective tax rate for Q1 2025 was 6.2%, in line with full-year guidance [54] - The company maintains a guidance of $600 to $625 million for full-year 2025 non-compensation expenses [53] - Adjusted operating margin reached 33.7%, up 340 basis points year-over-year, reflecting improved operational leverage [62] Q&A Session Summary Question: Asset allocation trends in the second quarter - Management noted volatility and uncertainty affecting retail channel flows, particularly in taxable fixed income, but expects long-term support from tax-exempt strategies [70][72] Question: Equitable dynamics and structural benefits - Management emphasized the independence of AllianceBernstein and the strategic advantages of being a public company, with no anticipated changes in Equitable's engagement [82][90] Question: Retail municipal SMA flows and potential headwinds - Management believes that while there may be a short-term shock if tax exemptions are altered, the fundamental need for income will sustain demand for municipal bonds [96][98] Question: Expense guidance and flexibility - Management confirmed the guidance for non-compensation expenses remains unchanged, with some flexibility to adjust spending based on market conditions [104][105] Question: Private markets fee expectations - Management revised performance fee expectations upward due to strong public market performance, with private markets remaining a significant contributor [129]