Core Viewpoint - Vanda Pharmaceuticals Inc. has announced the development of a novel antisense oligonucleotide (ASO) therapeutic, VCA-894A, aimed at treating a rare variant of Charcot-Marie-Tooth disease type 2S (CMT2S) caused by a mutation in the IGHMBP2 gene [1][3][4] Group 1: Product Development - VCA-894A is specifically designed for a patient diagnosed with CMT2S, a rare inherited neuromuscular disorder with an estimated prevalence of less than 1 in 1,000,000 worldwide [3][6] - The therapeutic targets a patient-specific IGHMBP2 variant, aiming to restore expression levels of the gene, showcasing the potential for personalized treatment approaches in rare diseases [3][4] - The effects of VCA-894A were validated using Hesperos' Human-on-a-Chip® model, demonstrating significant improvements in neuromuscular function, including reduced muscle fatigue and enhanced synaptic transmission [5][6] Group 2: Regulatory and Market Implications - VCA-894A has received orphan designation from the FDA, indicating its potential to address significant unmet medical needs [6] - The development of VCA-894A exemplifies a shift towards personalized medicine, moving away from a one-size-fits-all treatment model to tailored therapeutics based on individual genetic profiles [4][6] - The article published in Molecular Therapy Nucleic Acids highlights the advancements in precision medicine and the importance of genetic understanding in developing targeted treatments [1][5]

Company Overview - Academy Sports and Outdoors Inc (NASDAQ: ASO) is a leading retailer of sporting goods and outdoor recreation products in the US [1] - The company operates 298 stores across 19 states in the US [1] - The market where ASO operates is described as very large [1] Research Focus - GSBR Research specializes in identifying small-cap stocks with strong price appreciation potential that are under-covered by the market [1] - The GSBR Research team has over 12 years of stock market investing experience [1]

Article Summary - The article is an opinion piece and does not provide investment advice [1][3] - The author expresses personal opinions which may change without notice [1][3] - Readers are advised to conduct their own research before making investment decisions [1][3] Author's Disclosure - The author has no stock, option, or derivative positions in the mentioned companies [2] - No plans to initiate any positions within the next 72 hours [2] - The author is not receiving compensation for the article other than from Seeking Alpha [2] - No business relationship with any company mentioned in the article [2] Seeking Alpha's Disclosure - Past performance does not guarantee future results [4] - No investment recommendations or advice are provided [4] - Views expressed may not reflect those of Seeking Alpha as a whole [4] - Seeking Alpha is not a licensed securities dealer, broker, or investment adviser [4] - Analysts include both professional and individual investors who may not be licensed or certified [4]

Group 1: Market Overview - The S&P 500 is up nearly 27% in 2024, indicating a strong year for average stock market returns [1] - Some stocks, including Crocs, Academy Sports, and Universal Display, are underperforming compared to the S&P 500 [2] Group 2: Crocs - Crocs is trading at 8 times earnings, significantly lower than many stocks trading over 20 times earnings [4] - The core Crocs brand is expected to grow with an 8% year-over-year revenue increase, while the HeyDude brand is projected to see a 15% revenue drop [5][7] - Crocs has paid back over $1 billion in debt over the past two years and is now repurchasing shares [6] Group 3: Academy Sports - Academy Sports is also trading at about 8 times earnings and is positioned for better growth opportunities [8] - The company generated an average of $22 million in sales per store in 2023, significantly outperforming peers, and has improved its net profit margin to over 7% [9] - Academy Sports plans to open up to 25 new stores in 2025, representing nearly 8% growth [10] Group 4: Universal Display - Universal Display holds over 6,000 patents and is a leader in OLED technology, which is energy-efficient and in demand from mobile device manufacturers [12][13] - The company has a high net profit margin of 37% and invests heavily in research and development [14] - Management is close to commercializing PHOLED blue technology, which could enhance display energy efficiency by 25% [15][16] Group 5: Investment Outlook - Crocs, Academy Sports, and Universal Display are identified as high-conviction investment ideas for 2025, with expectations of strong performance and low downside risk [18] - Despite potential underperformance in the short term, the long-term outlook for these companies remains positive [19]

Core Viewpoint - Academy Sports & Outdoors (NASDAQ: ASO) has reported its Q3 earnings, highlighting a dual narrative for the stock, which operates in the sporting goods and outdoor recreation sector [1]. Group 1: Company Performance - The Q3 earnings report is significant as it reflects the company's performance in a competitive market [1]. - The focus on long-term growth and dividend growth investing indicates a strategy aimed at sustainable profitability rather than merely low valuation [1]. Group 2: Investment Strategy - The emphasis on profitability, margins, free cash flow stability, and returns on invested capital suggests a rigorous approach to evaluating investment opportunities [1]. - The company is positioned as a high-quality entity that warrants extensive research and analysis for potential investment [1].

Group 1 - The ideal investment is characterized by core business operations in sectors expected to grow structurally at rates exceeding GDP growth over the next 5-10 years [1] - Profits should stem from sustainable competitive advantages that lead to attractive unit economics [1] - The investment should be managed by competent, ethical, and long-term thinkers, and should be fairly valued [1]

Academy Sports and Outdoors, Inc. (ASO) reported third-quarter fiscal 2024 (ended Nov. 2) results, with both top and bottom lines missing the Zacks Consensus Estimate. Both metrics also declined year over year.The sales decline for the fiscal quarter was largely caused by challenges in October, which proved to be a tough month for the company. Unseasonably warm weather persisted throughout the month across its operating regions, negatively impacting seasonal business performance and contributing to an estim ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended November 2, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________. Commission File No. 001-39589 Academy Sports and Outdoors, Inc. (Exact name of registrant as specified in its charter) (State or ...

Financial Data and Key Metrics Changes - In Q3 2024, the company reported sales of $1.34 billion, with comparable sales declining by 4.9%, which was in line with expectations [45][46] - GAAP net income was $65.8 million, translating to GAAP diluted earnings per share of $0.92, while adjusted net income was $70.5 million or $0.98 in adjusted earnings per share [46][60] - The gross margin rate for the quarter was 34.0%, a decrease of 50 basis points compared to the previous year, primarily due to increased supply chain costs and a shift in merchandise mix [46][49] Business Line Data and Key Metrics Changes - The outdoor category was the best-performing segment, with total sales growth of 4%, driven by strong camping and hunting sales [12] - Footwear sales declined by 2%, while sports and recreation sales were down 3%, with team sports showing strength in football and baseball [12][13] - Apparel sales decreased by 9%, impacted by warmer weather affecting fall seasonal categories [13][15] Market Data and Key Metrics Changes - The company experienced a 250 basis point increase in store foot traffic compared to the first half of the year, with foot traffic during key shopping events increasing by 3.8% year-over-year [47][48] - The consumer environment showed episodic shopping behavior, with customers waiting for major events to shop, impacting sales during quieter periods [17][19] Company Strategy and Development Direction - The company is focused on expanding its store footprint, having opened 16 new stores in 2024, with plans for 20 to 25 new stores in 2025 [23][28] - Strategic initiatives include building a more powerful omnichannel business and driving comparable sales growth across existing stores [32][38] - The company aims to leverage its value proposition and maintain everyday value messaging while offering targeted promotions [15][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-range plan and noted a strong start to the holiday season, despite a cautious outlook due to macroeconomic conditions [7][8] - The company is monitoring potential impacts from recent elections and tariff increases, having diversified its sourcing base to mitigate risks [62][63] - Management highlighted the importance of maintaining a clean inventory position and expects to avoid excessive promotions due to a well-managed inventory [78][79] Other Important Information - The board authorized a new $700 million share repurchase program, reflecting confidence in the business and commitment to returning capital to shareholders [8][56] - The company generated approximately $97 million in cash from operations and invested $63 million in growth initiatives during the quarter [54][55] Q&A Session Summary Question: Can you provide commentary on Black Friday and Cyber Week performance? - Management noted that Black Friday was the largest selling day in the company's history, with strong momentum carrying into Cyber Week despite the compressed holiday calendar [75][76] Question: What are the drivers of gross margin decline? - The decline was primarily due to a mix shift associated with outdoor sales and increased international freight costs, with expectations for improved margins in Q4 [82][89] Question: Were there any changes in consumer behavior in Q3? - Management observed a potential trade-down in customer spending and continued episodic shopping behavior, with increased usage of credit and Buy Now Pay Later options [94][98] Question: Can you elaborate on the upcoming Nike product launch? - The launch is expected to be significant, with a broad assortment across various categories, but specific details are limited at this time [104] Question: How is the competitive environment compared to last year? - The promotional environment is slightly elevated compared to last year, but not back to pre-pandemic levels, with digital performance meeting expectations [106][109]

Exhibit 99.1 Academy Sports + Outdoors Reports Third Quarter 2024 Results Net Sales Decline (3.9)%; Comparable Sales of (4.9)% 1 GAAP Diluted EPS of $0.92, or $0.98 Adjusted Diluted EPS 1 Year-to-Date GAAP Operating Cash Flow +29%; Year-to-Date Adjusted Free Cash Flow +67% vs LY Authorizes New $700 Million Share Repurchase Program Plans to Open 20 to 25 New Stores in Fiscal 2025 KATY, TEXAS (Globe Newswire — December 10, 2024) – Academy Sports and Outdoors, Inc. (Nasdaq: ASO) ("Academy" or the "Company") to ...