KT-621, a potent, selective, oral STAT6 degrader, demonstrated comparable or superior activity to dupilumab in preclinical studies including an asthma model shared at the ATS Annual Meeting Additional KT-621 preclinical data was also featured in a poster presentation at Digestive Disease Week KT-621 expected to start Phase 1 in the second half of 2024,with Phase 1 data in the first half of 2025 WATERTOWN, Mass., May 22, 2024 (GLOBE NEWSWIRE) -- Kymera Therapeutics, Inc. (NASDAQ: KYMR), a clinical-stage bio ...

JENA, Germany, May 21, 2024 (GLOBE NEWSWIRE) -- InflaRx N.V. (Nasdaq: IFRX), a biopharmaceutical company pioneering anti-inflammatory therapeutics by targeting the complement system, announced data presented at the American Thoracic Society (ATS) 2024 International Conference that is being held from May 17-22, 2024 in San Diego. InflaRx is presenting a poster at the thematic poster session at the ATS conference today from 11:30 AM PT / 2:30 PM ET to 1:15 PM PT / 4:15 PM ET. The poster is titled, “Vilobelima ...

  Dupixent® late-breaking data from NOTUS confirmatory phase 3 COPD study presented at ATS and published in NEJM NOTUS results confirm landmark data from the phase 3 BOREAS study and show Dupixent significantly reduced exacerbations by 34% and improved lung function, compared to placebo, in uncontrolled chronic obstructive pulmonary disease (COPD) with evidence of type 2 inflammationData support the potential of Dupixent as the first new treatment approach in more than a decade and first-ever targeted thera ...

NOTUS results confirm landmark data from the Phase 3 BOREAS trial and show Dupixent significantly reduced exacerbations by 34% and improved lung function, compared to placebo, in uncontrolled chronic obstructive pulmonary disease (COPD) with evidence of type 2 inflammation Data support the potential of Dupixent as the first new treatment approach in more than a decade and first-ever targeted therapy for COPD TARRYTOWN, N.Y. and PARIS, May 20, 2024 (GLOBE NEWSWIRE) -- Regeneron Pharmaceuticals, Inc. (NASDAQ: ...

Late-Breaking Results From the Phase 2a COURSE Trial Illustrate Tezspire's Impact on COPD Exacerbations in Patients With a Broad Range of Eosinophil Levels THOUSAND OAKS, Calif., May 19, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) and AstraZeneca today announced the results of the Phase 2a COURSE trial evaluating Tezspire® (tezepelumab-ekko) in people with moderate to very severe chronic obstructive pulmonary disease (COPD) with a broad range of baseline blood eosinophil counts (BEC) irrespective of emphysema, ...

SAN DIEGO, May 16, 2024 (GLOBE NEWSWIRE) -- When:          May 17–22, 2024Where:         San Diego Convention Center (SDCC) | 111 Harbor Dr. San Diego, CA 92101                       Marriott Marquis San Diego Marina | 333 West Harbor Dr. San Diego, CA 92101Research:     26 ResMed-supported abstracts will be presented at ATS. Full list below. Highlights:Innovation Hub:     Healthcare of Today, Looking Towards Tomorrow: Digital Innovations and Patient CentricityBooth #1442:            Featuring ResMed’s late ...

Financial Performance - Revenues for Q4 2024 increased 8.3% year over year to $791.5 million, with a year-to-date revenue increase of 17.7% to $3,032.9 million[3][4]. - Net income for Q4 2024 was $48.5 million, a 63.9% increase from $29.6 million in Q4 2023, while year-to-date net income rose 52.1% to $194.2 million[3][4]. - Adjusted EBITDA for Q4 2024 was $115.8 million, a 2.0% decrease from $118.2 million a year ago, with year-to-date adjusted EBITDA increasing 17.3% to $470.6 million[3][4]. - Total revenues for fiscal 2024 were reported at $3,032.9 million, a 17.6% increase from $2,577.4 million in fiscal 2023[59]. - Adjusted EBITDA for fiscal 2024 was $470.6 million, compared to $401.2 million in fiscal 2023, reflecting a year-over-year increase of approximately 17.3%[39]. - Net income for the fiscal year 2024 was $194.2 million, a significant increase of 52.1% from $127.7 million in fiscal 2023[59]. - Earnings from operations for Q4 2024 were $74.8 million, up from $51.9 million in Q4 2023, representing a year-over-year increase of approximately 43%[38]. - The company reported a basic EPS of $0.49 for Q4 2024, compared to $0.32 for Q4 2023, representing an increase of 53.1%[44]. - Earnings per share attributable to shareholders increased to $1.98 for fiscal 2024, up from $1.39 in fiscal 2023, representing a growth of 42.4%[59]. Order Bookings and Backlog - Order Bookings for Q4 2024 were $791 million, a 7.3% increase year over year, while year-to-date Order Bookings totaled $2,891 million, down 11.2% from the previous year[3][4][16]. - Order Backlog at the end of Q4 2024 was $1,793 million, a decrease of 16.7% compared to $2,153 million at the end of Q4 2023[6][18]. - The Order Backlog stands at $1,793 million, with an expected revenue conversion rate of 36% to 40% in Q1 fiscal 2025[22]. - Approximately $200 million of Order Backlog related to an EV customer was delayed, with a reduction of $50 million in the fourth quarter due to scope changes[22]. - Total order backlog as of March 31, 2024, is $1,793 million, down from $2,153 million in the previous year, representing a decrease of 16.7%[40]. - Total order bookings for the fiscal year 2024 amount to $2,891 million, a decline of 11.2% from $3,256 million in fiscal year 2023[41]. Acquisitions and Strategic Focus - The company announced the acquisition of Paxiom Group, expected to close in Q3 2024, enhancing its packaging solutions portfolio[7]. - The company acquired IT.ACA on January 1, 2024, strengthening its automation system integration capabilities in southern Europe[8]. - The company aims to achieve organic revenue growth and identify strategic acquisition opportunities to access attractive end-markets[23]. - The company anticipates future growth through organic expansion and acquisitions, with a focus on emerging markets and digitalization capabilities[69]. Market Trends and Challenges - The life sciences market remains strong, with expected revenues from GLP-1 drugs projected to become a high single-digit percentage of total revenues in the coming years[19]. - Customers are exercising caution in investment and spending, but underlying trends such as rising labor costs and production reshoring remain favorable for the company's solutions[21]. - The company is focused on clean energy applications, including solutions for nuclear power plant refurbishment and grid battery storage[20][21]. - There are concerns regarding the impact of macroeconomic factors such as inflation, supply chain disruptions, and interest rate changes on the company's operations[70]. - The company acknowledges risks related to customer concentration and potential impacts from regional or global conflicts on market performance[71]. - The company is facing challenges in securing labor and materials, which may affect its ability to expand operations organically or through acquisitions[71]. - There is uncertainty regarding the conversion of sales funnel to order bookings due to competitive factors and customer needs[72]. - The company is monitoring the potential impact of changes in accounting standards on its financial statements[73]. Financial Position and Cash Flow - Cash and cash equivalents increased to $170.2 million as of March 31, 2024, compared to $159.9 million in the previous year, representing a growth of 8.1%[50]. - Free cash flow for Q4 2024 was $(16.3) million, a decrease from $47.9 million in Q4 2023, reflecting a decline of 134.0%[51]. - Cash flows provided by operating activities decreased significantly to $20,780 from $127,800, a decline of 83.8%[61]. - Cash flows used in investing activities increased to $(341,785) from $(109,022), representing a rise of 213.5%[61]. - Cash flows provided by financing activities surged to $330,724 from $4,882, an increase of 6,635.5%[61]. - The company reported cash income taxes paid of $49,511, down from $58,398, a decrease of 15.9%[61]. - The company’s total bank indebtedness decreased to $(1,527) from $3,399, indicating improved financial leverage[61]. - The net debt to adjusted EBITDA ratio improved to 2.4x as of March 31, 2024, down from 2.7x in the previous year[50]. - The company reported a debt-to-equity ratio of 0.79:1 as of March 31, 2024, improved from 1.18:1 in the previous year[55]. - The company’s long-term debt stood at $1,171.8 million as of March 31, 2024, slightly up from $1,155.7 million in the previous year[50]. - Non-cash working capital as a percentage of trailing six-month revenues increased to 19.0% as of March 31, 2024, compared to 10.1% in the previous year[49]. - Non-cash working capital levels as a percentage of revenues may fluctuate due to timing and nature of order bookings and payment terms[72].

Financial Data and Key Metrics Changes - ATS reported record revenues of $792 million in Q4, an 8% increase from the previous year, with full-year revenues up 18% [8][19] - Adjusted earnings from operations for Q4 were $96 million, with full-year adjusted earnings at $398 million, a 16% increase compared to fiscal '23 [8][20] - The order bookings for Q4 were $791 million, a 7.3% increase year-over-year, with full-year bookings totaling $2.9 billion [7][18] Business Line Data and Key Metrics Changes - Life Sciences saw a backlog of $871 million, up 14% year-over-year, driven by demand for autoinjector assembly and automated pharmacy solutions [8][9] - Transportation backlog was $425 million, reflecting ongoing execution of large programs, but with expected pressure on EV revenues [9][10] - Food & Beverage bookings were strong in Q4, with an ending backlog of $230 million, supported by seasonal variations [10][11] Market Data and Key Metrics Changes - The Life Sciences market remains robust, with a strong opportunity funnel driven by increased demand for GLP-1 drugs and wearable devices [9][15] - The Transportation market is experiencing short-term uncertainty, with smaller opportunities in the near term compared to previous years [10][18] - The Energy market is focused on refurbishing existing nuclear reactors, with new projects being approved [11] Company Strategy and Development Direction - ATS is advancing its value creation strategy through acquisitions, having completed four in fiscal '24, including the recent acquisition of Paxiom [6][14] - The company is committed to innovation, increasing its patent portfolio by nearly 10% over the last year [6][7] - ATS is focused on driving improvements through its ABM culture, emphasizing continuous improvement and operational efficiency [13][14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to offset expected lower revenues from EV with growth in other markets, particularly Life Sciences [20][78] - The backlog remains strong at $1.8 billion, providing good revenue visibility for fiscal '25 [8][24] - Management noted improvements in supply chain lead times and ongoing efforts to manage material cost pressures [21][22] Other Important Information - ATS has been active in its share buyback program, repurchasing over 1 million shares for $45 million [7][24] - The company incurred $6.6 million in restructuring costs in Q4, totaling $22.8 million for the full year, aimed at cost reductions to support growth [22][23] - ATS was recognized as one of Southwestern Ontario's Top Employers for 2024, highlighting its commitment to employee engagement [16] Q&A Session Summary Question: Impact of EV program reduction - Management confirmed that customers are responsible for compensating ATS up until the point of work cancellation, and they expect to recover working capital from the cancellation [30] Question: Potential further reductions in EV demand - Management does not expect further cancellations, noting that the descoped portion was in the early design phase [32] Question: Working capital concerns - Management indicated that milestone payments are expected to normalize working capital levels in the upcoming quarters [34] Question: Revenue outlook excluding EV - Management clarified that the exclusion of EV from revenue expectations is due to timing uncertainty, but they remain optimistic about growth in other areas [38] Question: Autoinjector revenue ramp - Management expects autoinjector revenues to increase from low single-digits to high single-digits over the next several years [45] Question: Free cash flow expectations - Management indicated that working capital impacts from EV will improve as milestones are reached in the second half of the fiscal year [48] Question: Adjusted EBIT margin target - Management reaffirmed the target for a 15% adjusted EBIT margin, emphasizing ongoing initiatives to drive efficiency [50] Question: Backlog changes - Management explained that the decline in backlog was primarily due to the EV cancellation, along with some normal course scope changes [66] Question: 2025 sales outlook - Management indicated that they expect to offset declines in EV sales with growth in other markets, particularly Life Sciences [78]

ATS (ATS) came out with quarterly earnings of $0.48 per share, beating the Zacks Consensus Estimate of $0.41 per share. This compares to earnings of $0.54 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 17.07%. A quarter ago, it was expected that this automation services provider would post earnings of $0.48 per share when it actually produced earnings of $0.48, delivering no surprise.Over the last four quarters, the company h ...

THOUSAND OAKS, Calif., May 15, 2024 /PRNewswire/ -- Amgen (NASDAQ:AMGN) will host a webcasted call for the investment community at 1:00 p.m. PT on Monday, May 20, 2024 following the presentation of new data from TEZSPIRE® in chronic obstructive pulmonary disease (COPD) at the American Thoracic Society (ATS) International Conference on May 19 and 20, 2024. The presentation will also include an overview of additional programs from Amgen's innovative inflammation portfolio. Jay Bradner, executive vice presiden ...