Financial Performance - Net income for the three months ended March 31, 2025, was $74,034,000, down from $77,222,000 for the same period in 2024, a decrease of about 4.2%[15] - Comprehensive income for the three months ended March 31, 2025, was $86,805,000, compared to $73,063,000 in Q1 2024, an increase of about 18.8%[18] - Total net income for the three months ended March 31, 2025, was $74.034 million, a decrease of 4.1% from $77.222 million in 2024[46] - Equity in net income attributable to AB unitholders decreased by 4.1%, from $86.281 million in 2024 to $82.753 million in 2025[51] - Total income taxes for the three months ended March 31, 2025, were $8.719 million, a decrease of 3.8% from $9.059 million in 2024[51] Assets and Capital - Total assets decreased from $2,034,632,000 as of December 31, 2024, to $1,997,129,000 as of March 31, 2025, representing a decline of approximately 1.8%[13] - The investment in AB decreased from $2,034,632,000 to $1,996,177,000, a decline of approximately 1.9%[13] - The total partners' capital decreased from $2,031,862,000 as of December 31, 2024, to $1,996,871,000 as of March 31, 2025, a decrease of about 1.7%[13] - Investment in AB as of March 31, 2025, was $1.996 billion, down from $2.034 billion as of December 31, 2024[47] Cash Distributions - Cash distributions to unitholders increased to $116,364,000 in Q1 2025 from $88,566,000 in Q1 2024, reflecting a rise of approximately 31.4%[23] - Cash distributions to unitholders increased by 9.6%, from $0.73 per unit in 2024 to $0.80 per unit in 2025[56] - The General Partner declared a distribution of $0.80 per Unit for the three months ended March 31, 2025, payable on May 22, 2025[39] Operating Activities - Net cash provided by operating activities rose to $115.3 million in 2025, compared to $87.7 million in 2024, primarily due to higher cash distributions received from AB[65] - Total cash paid for repurchases of AB Holding Units was $30.5 million in 2025, significantly higher than $4.3 million in 2024[42] Unit Awards and Repurchases - The number of restricted AB Holding Unit awards granted to employees increased from 0.9 million in 2024 to 1.0 million in 2025[44] - During Q1 2025, AB purchased a total of 813,836 AB Holding Units at an average price of $37.48 per unit[81] - The company retained 114,653 AB Holding Units from employees to meet statutory withholding tax requirements during long-term incentive compensation distribution[81] Market and Risk Factors - AB Holding's cash flow is dependent on quarterly cash distributions from AB, which are influenced by capital market performance[71] - No material changes in market risk were reported for AB Holding in Q1 2025 compared to the previous year[70] - The company has not experienced any material changes to risk factors since the last annual report for the fiscal year ended December 31, 2024[77] - AB Holding's ability to access capital markets may be limited by adverse market conditions and changes in government regulations[71] - Litigation outcomes remain unpredictable, but the company does not expect pending legal proceedings to materially affect its operations[71] Internal Controls and Compensation - No changes in internal control over financial reporting occurred during Q1 2025 that materially affected the company's reporting[74] - The company has determined that adjusted employee compensation expense should not exceed 50% of adjusted net revenues annually[71] Future Plans - The plan for repurchasing AB Holding Units expired on April 23, 2025, with potential for future plans to be adopted[79] - On April 3, 2025, EQH announced a cash tender offer for up to 46,000,000 AB Holding Units at a price of $38.50, totaling an aggregate purchase price of up to $1.8 billion[36] - A total of 19,682,946 AB Holding Units were tendered, equating to a 17.9% economic interest in AB Holding, for an aggregate cost of approximately $757.8 million[36] - The economic interest of EQH and its subsidiaries in AB was approximately 61.9% as of March 31, 2025[32]

Ioanis Jorgali, Investors 629.213.6139 ioanis.jorgali@alliancebernstein.com Carly Symington, Media 629.213.5568 carly.symington@alliancebernstein.com ALLIANCEBERNSTEIN HOLDING L.P. ANNOUNCES FIRST QUARTER RESULTS GAAP Net Income of $0.67 per Unit Adjusted Net Income of $0.80 per Unit Cash Distribution of $0.80 per Unit Nashville, TN, April 24, 2025 - AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today reported financial and operating results for the quarter ended ...

Financial Performance - AllianceBernstein reported GAAP net income of $0.67 per unit and adjusted net income of $0.80 per unit for Q1 2025, with a cash distribution of $0.80 per unit [1][42] - Total net revenues for Q1 2025 were $1.08 billion, a decrease of 2.1% from Q1 2024 and a 14.1% decrease from Q4 2024 [13][14] - Adjusted net revenues were $838 million, down 5.2% year-over-year and down 14% sequentially [21][22] - Operating income for Q1 2025 was $236 million, a 2% decrease from Q1 2024 and a 26% decrease from Q4 2024 [17][41] - The adjusted operating income increased by 6% year-over-year to $283 million, but decreased by 20% sequentially [25] Assets Under Management (AUM) - As of March 31, 2025, total AUM was $784.5 billion, reflecting a 3.4% increase from the previous year but a 1% decrease from the end of Q4 2024 [7][42] - Average AUM for Q1 2025 was $797.5 billion, up 7.9% from Q1 2024 [7][42] - Institutional AUM was $324.1 billion, with net inflows of $0.4 billion, while retail AUM also saw net inflows of $0.9 billion [8][10] Market Trends and Client Activity - The company experienced $2.7 billion in active net inflows across all global distribution channels in Q1 2025, driven by strong institutional deployments into private alternative strategies [2][3] - Retail channel gross sales exceeded $25 billion for the third consecutive quarter, with a consistent annualized growth rate of 19% in tax-exempt fixed income [3] - Institutional flows returned to positive territory, with a pipeline of awarded but unfunded mandates increasing to $13.5 billion [9] Expense Management - Operating expenses for Q1 2025 were $844 million, a decrease of 2% from Q1 2024, primarily due to lower employee compensation and benefits [15][16] - Adjusted operating expenses also decreased by 10% year-over-year to $555 million [23][24] Distribution and Shareholder Returns - The cash distribution per unit of $0.80 is scheduled for payment on May 22, 2025, to holders of record as of May 5, 2025 [4][42] - The adjusted earnings per unit and distributions to unitholders rose by 10% compared to the previous year [2]

Core Viewpoint - The European Medicines Agency (EMA) has granted orphan drug designation to AB8939 for the treatment of acute myeloid leukemia (AML), indicating its potential significant benefit over existing therapies [1][2]. Group 1: Orphan Drug Designation - AB8939 previously received orphan drug designation from the US FDA, and the EU designation is a significant milestone, suggesting that it offers substantial benefits to AML patients [2]. - The criteria for orphan drug designation at EMA are stringent, requiring evidence of significant benefit compared to existing treatments [2][4]. Group 2: Efficacy and Safety Data - Preclinical data from mouse models show that AB8939 provides a significant benefit over current therapies like cytarabine, azacitidine, and venetoclax [3]. - Preliminary efficacy and safety data from Phase 1 trials indicate that AB8939 is effective as a monotherapy with different treatment cycles [3]. - AB8939 demonstrates efficacy against drug-resistant AML cells, with 45% of vincristine-resistant and 66% of cytarabine-resistant cells responding to treatment [4]. Group 3: Mechanism of Action - AB8939 is a synthetic molecule that targets cancer cells by destabilizing microtubules essential for cell division and inhibiting enzymes crucial for cancer stem cell survival [6]. - The chemical name of AB8939 is '1-{4-[2-(5-ethoxymethyl-2-methylphenylamino)-oxazol-5-yl]phenyl}imidazolidin-2-one' [6]. Group 4: Benefits of Orphan Drug Designation - Orphan drug designation in the EU provides various benefits, including scientific advice on product development, access to centralized marketing authorization, and potential financial incentives [8]. - If approved, AB8939 will enjoy 10 years of marketing exclusivity from the date of registration, provided the orphan designation remains valid [8].

Core Viewpoint - AllianceBernstein Holding L.P. (NYSE: AB) is rated as a Buy for investors focused on capital appreciation and long-term investments, with Q1 earnings expected to be declared on April 24th [1]. Company Summary - AllianceBernstein is anticipated to report its Q1 earnings soon, which is a significant event for investors [1]. - The company is positioned for long-term buy and hold strategies, appealing to capital appreciation-focused investors [1]. Analyst Background - David A. Johnson, the founder of Endurance Capital Management, has over 30 years of investment experience and holds advanced degrees in finance and business administration [1].

Core Viewpoint - AB Science has received a Notice of Allowance for a US patent covering the use of masitinib in treating sickle cell disease, providing protection until November 2040, which enhances its intellectual property portfolio [1][3]. Company Overview - AB Science is a pharmaceutical company founded in 2001, specializing in the research, development, and commercialization of protein kinase inhibitors (PKIs) targeting diseases with high unmet medical needs [12][13]. Product Development - Masitinib is being developed as a treatment for severe forms of sickle cell disease, which accounts for approximately 65% of cases. The drug targets mast cells, which play a critical role in the disease's complications [3][4]. - The clinical development of masitinib in sickle cell disease is part of the SICKMAST collaborative program, which is funded with €9.2 million and aims to demonstrate efficacy in a phase 2 clinical trial [5]. Medical Need - Sickle cell disease is a significant public health challenge, with around 300,000 children born with the condition annually, potentially rising to 400,000 by 2050. The disease leads to early death and high social burden [6][10]. - Current treatment options do not fully prevent life-threatening complications, highlighting a significant medical need for effective therapies [10]. Scientific Insights - Masitinib has shown survival benefits in preclinical models, with treated mice experiencing no vaso-occlusive crises (VOC) or deaths, indicating its potential effectiveness [4]. - The drug acts as an inhibitor of key kinases involved in mast cell activation, which is crucial for addressing the inflammatory aspects of sickle cell disease [8][9].

NASHVILLE, Tenn., April 9, 2025 /PRNewswire/ -- AllianceBernstein L.P. ("AB") and AllianceBernstein Holding L.P. ("AB Holding") (NYSE: AB) today announced that preliminary assets under management decreased to $784 billion during March 2025 from $805 billion at the end of February. Net inflows across all three channels (Institutional, Retail and Private Wealth) were offset by market depreciation during March, resulting in a 2.6% decline in month-end AUM. For the quarter-ended March 2025, preliminary firmwide ...

NASHVILLE, Tenn., April 7, 2025 /PRNewswire/ -- AllianceBernstein L.P. and AllianceBernstein Holding L.P. (NYSE: AB) today announced that First Quarter 2025 financial and operating results will be released before the market opens on Thursday, April 24, 2025. Management will conduct a teleconference beginning at 9:00 am (CT), to discuss the results. The call will be hosted by Seth Bernstein, President and Chief Executive Officer; Thomas Simeone, Chief Financial Officer; and Onur Erzan, Head of Global Client ...

Group 1 - The article emphasizes the importance of value investment and the search for bargain buys in stock analysis [1] - The analyst has over 20 years of experience in quantitative research, financial modeling, and risk management, focusing on equity valuation and market trends [1] - The investment approach combines risk management with long-term value creation, highlighting a keen interest in macroeconomic trends and corporate earnings [1] Group 2 - There is no disclosure of any stock, option, or derivative positions in the companies mentioned, indicating an unbiased perspective [2] - The article expresses personal opinions and does not provide compensation for the views expressed, ensuring independence in analysis [2] - Seeking Alpha clarifies that past performance does not guarantee future results, and the views may not reflect the platform's overall stance [3]

Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Shares of AllianceBernstein (NYSE: AB ) have delivered a total return of 1% since my most recent upda ...