Core Insights - New data from the Phase 2b SunRISe-1 study indicate that over 95% of patients with high-risk, non-muscle invasive bladder cancer remained progression-free at one year, with more than 92% avoiding bladder removal surgery [1][2][3] Company Overview - Johnson & Johnson is committed to developing innovative treatments for patients with high-risk non-muscle invasive bladder cancer (NMIBC) who have limited options beyond radical cystectomy [2] - The company is focusing on the gemcitabine intravesical system, which has shown promising results in clinical trials for patients unresponsive to Bacillus Calmette-Guérin (BCG) therapy [1][5] Study Details - Cohort 4 of the SunRISe-1 study involved 52 patients with papillary-only, high-risk NMIBC who did not respond to BCG therapy and were ineligible for or declined radical cystectomy [2][5] - The therapy was administered every three weeks for six months, followed by every 12 weeks for up to an additional 18 months [2] Efficacy Results - At a median follow-up of 15.9 months, the one-year disease-free survival (DFS) rate was 74.3%, with progression-free survival (PFS) at 95.6% and overall survival (OS) at 98% [3] - Notably, 92.3% of patients did not undergo radical cystectomy, indicating the treatment's potential to preserve bladder function [3] Safety Profile - The therapy was generally well-tolerated, with 80.8% of patients experiencing low-grade treatment-related side effects, primarily mild urinary symptoms [4] - Serious side effects were uncommon, occurring in 13.5% of patients, and no treatment-related deaths were reported [4] Industry Context - High-risk non-muscle invasive bladder cancer represents a significant challenge in oncology, with traditional treatment options often leading to radical cystectomy, which can severely impact patients' quality of life [2][7] - The ongoing need for effective bladder preservation therapies highlights the importance of studies like SunRISe-1 in addressing unmet medical needs in this patient population [2][7]

Core Insights - BINAH Capital Group has announced that a Chicago-based advisory group, recently acquired by Merit Financial Advisors, will utilize PKS Investments as its broker-dealer [1][2] - The Chicago-based team manages approximately $1.2 billion in client assets and will leverage PKS for its commission-based business [2] - PKS Investments offers a supportive broker-dealer framework tailored for independent Registered Investment Advisors (RIAs), providing a robust platform for growth [2][3] Company Overview - BINAH Capital Group operates as a financial services enterprise that supports independent financial advisors through its network of broker-dealers [3] - The company specializes in a hybrid-friendly model that delivers value to RIAs navigating the complex financial landscape [3] - BINAH's portfolio is designed to help advisors manage and execute commission-based business effectively while offering top-tier resources [3]

Core Insights - BINAH Capital Group's Chief Business Development & Engagement Officer, Ryan Marcus, has been named a Finalist in the ThinkAdvisor 2025 Luminaries Awards for Thought Leader of the Year [1] - The Luminaries Awards program recognizes firms and individuals setting new standards in financial services, emphasizing leadership, innovation, and measurable impact [2] - This recognition highlights BINAH's commitment to advisor growth, strategic business development, and thought leadership, enhancing best practices in the independent channel [3] Company Overview - BINAH Capital Group operates as a financial services enterprise that supports independent financial advisors through a network of broker-dealers [5] - The company specializes in a hybrid-friendly model, providing value to Registered Investment Advisors (RIAs) navigating complex financial landscapes [5] - BINAH aims to empower advisors by offering not just tools but also partnerships, delivering structure, flexibility, and innovative solutions to succeed in a competitive marketplace [5] Leadership Recognition - Craig Gould, CEO of BINAH, expressed honor in Ryan Marcus's nomination, reflecting the strength of the business development team and the organization's commitment to supporting independent financial professionals [4] - The winners of the Luminaries Awards will be selected by a panel of independent judges and celebrated at an event on December 4, 2025, in New York [4]

Core Viewpoint - Binah Capital Group will participate in the NobleCon21 conference on December 4, 2025, showcasing its commitment to empowering independent financial advisors [1]. Company Overview - Binah Capital Group is a financial services enterprise that operates a network of firms aimed at supporting independent financial advisors [3]. - The company specializes in a hybrid-friendly model as a national broker-dealer aggregator, providing innovative solutions for Registered Investment Advisors (RIAs) [3]. - Binah Capital focuses on delivering value through partnerships and resources that help advisors manage commission-based businesses effectively [3]. Event Details - The presentation at the NobleCon21 conference will be led by Craig Gould, CEO, and David Shane, CFO, at 9:30 AM ET [1]. - A webcast of the presentation will be available the following day on multiple platforms, including Binah Capital's investor relations website [2].

Group 1 - Binah Capital Group, Inc. (NASDAQ: BCG) reported a 9.5% increase in revenue to $46.2 million, driven by strong commissions, increased advisory fees, and higher interest income [1] - The company's assets under management (AUM) grew by 11% year-over-year to $30.0 billion, indicating the scalability of its advisor-centric business model [2] - Profitability reached a multi-quarter high with EBITDA increasing to $2.9 million, allowing for potential strategic investments to support advisors [3] Group 2 - Management expressed positive momentum heading into the fourth quarter, supported by advisor productivity and macro trends [4] - Despite increased volatility in shares, they settled almost flat and are trading at a 92% discount on a last twelve months price-to-sales ratio [4]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential opportunities for traders before the market opens [1] Premarket Gainers - Cidara Therapeutics, Inc. (CDTX) is up 91% at $203.18 - Binah Capital Group, Inc. (BCG) is up 45% at $2.07 - Invivyd, Inc. (IVVD) is up 42% at $2.52 - Omeros Corporation (OMER) is up 15% at $7.25 - The Oncology Institute, Inc. (TOI) is up 12% at $3.47 - AlphaVest Acquisition Corp (ATMV) is up 11% at $7.99 - ARB IOT Group Limited (ARBB) is up 7% at $7.31 - Hyperion DeFi, Inc. (HYPD) is up 6% at $5.27 - TruGolf Holdings, Inc. (TRUG) is up 6% at $2.02 - Boqii Holding Limited (BQ) is up 5% at $2.24 [3] Premarket Losers - TSS, Inc. (TSSI) is down 40% at $9.12 - StubHub Holdings, Inc. (STUB) is down 20% at $15.02 - ESS Tech, Inc. (GWH) is down 20% at $3.38 - Red Cat Holdings, Inc. (RCAT) is down 17% at $6.38 - WhiteFiber, Inc. (WYFI) is down 15% at $16.81 - New Era Energy & Digital, Inc. (NUAI) is down 13% at $3.66 - NET Power Inc. (NPWR) is down 11% at $2.62 - Korro Bio, Inc. (KRRO) is down 9% at $5.90 - Anavex Life Sciences Corp. (AVXL) is down 8% at $5.20 - Interactive Strength Inc. (TRNR) is down 5% at $2.47 [4]

Group 1: RLX Technology Inc - RLX Technology Inc reported quarterly earnings of 3 cents per share on sales of $158.600 million [1] - Shares of RLX Technology rose 6% to $2.47 in pre-market trading following the earnings report [1] Group 2: Other Stocks in Pre-Market Trading - Cidara Therapeutics, Inc. surged 92% to $203.50 after a Schedule 13D Amendment revealed beneficial ownership of 3.37 million shares [4] - Binah Capital Group, Inc. gained 52.2% to $2.17 after posting stronger-than-expected third-quarter results [4] - Expion360 Inc. rose 42.4% to $1.81 following its third-quarter results [4] - Aspire Biopharma Holdings, Inc. surged 31.2% to $0.1380 in pre-market trading [4] - Invivyd, Inc. gained 28.8% to $2.28 after reporting better-than-expected third-quarter financial results [4] - Milestone Scientific Inc. surged 26.3% to $0.4801 after reporting better-than-expected third-quarter sales [4] - Lazydays Holdings, Inc. gained 23.3% to $1.85 after a previous surge [4] - Omeros Corp gained 12.5% to $7.08 following a narrower-than-expected quarterly loss [4] - Nouveau Monde Graphite Inc rose 10% to $3.25 after a decline the previous day [4] Group 3: Declining Stocks in Pre-Market Trading - TSS Inc tumbled 40.2% to $9.10 after reporting a year-over-year decrease in third-quarter results [4] - enVVeno Medical Corp declined 35.8% to $0.42 after an unfavorable FDA appeal decision [4] - Nuvve Holding Corp fell 29.3% to $0.34 after announcing third-quarter results [4] - ESS Tech Inc shares dipped 24.2% to $3.22 after reporting weak quarterly sales [4] - Direct Digital Holdings Inc fell 18.8% to $0.23 after a significant gain the previous day [4] - StubHub Holdings Inc fell 18.8% to $15.28 after worse-than-expected third-quarter EPS results [4] - Mangoceuticals Inc dipped 17.7% to $0.98 after a decline the previous day [4] - Red Cat Holdings Inc dipped 15.1% to $6.57 after worse-than-expected financial results and a lowered FY25 sales guidance [4] - WhiteFiber Inc fell 13.4% to $17.21 after reporting worse-than-expected financial results [4] - Sobr Safe Inc fell 12.4% to $2.21 after a decline the previous day [4]

Core Insights - Binah Capital Group reported a 10% year-over-year increase in total revenue, reaching $137.0 million, and an 11% increase in assets under management (AuM) to $30.0 billion [1][8] - The company achieved a net income of $2.1 million for the first three quarters of 2025, compared to a net loss of $3.5 million in the same period of 2024 [1][8] - EBITDA rose significantly to $5.8 million from $1.0 million in the prior year, with a third-quarter EBITDA of $2.9 million compared to $0.4 million in the same period last year [2][5][21] Financial Performance - Total revenue for the third quarter of 2025 grew by 9.5% to $46.2 million, with gross profit increasing to $26.4 million from $23.5 million in the prior-year period [8][19] - Total operating expenses decreased to $23.5 million from $26.0 million, primarily due to the absence of non-recurring costs from the previous year [8] - The company reported a GAAP net income of $1.8 million for the third quarter of 2025, a significant improvement from a net loss of $1.2 million in the same period of 2024 [8][20] Liquidity and Capital Structure - As of September 30, 2025, Binah Capital had cash and cash equivalents of $8.3 million and long-term debt of $18.2 million [6] - The total assets of the company increased to $67.6 million from $66.7 million at the end of 2024 [16] Strategic Outlook - The CEO highlighted the company's strong performance and growth initiatives, expressing confidence in the opportunities presented by the dynamic macro environment [3] - Binah Capital aims to continue leveraging its differentiated RIA platform to drive growth and enhance shareholder value [3][9]

Financial Performance - Total revenue increased by 10% year-over-year to $137.0 million for the first nine months of 2025[1] - Net income for the first three quarters of 2025 was $2.1 million, compared to a net loss of $3.5 million in the same period in 2024[6] - In the third quarter of 2025, total revenue grew by 9.5% to $46.2 million[6] - The company achieved GAAP profitability with a net income of $1.8 million in the third quarter of 2025, compared to a net loss of $1.2 million in the prior year[6] - For the three months ended September 30, 2025, net income was $1.8 million, compared to a net loss of $1.2 million in the same period of 2024[20] - For the nine months ended September 30, 2025, net income improved to $2.1 million from a net loss of $3.5 million in 2024[20] EBITDA and Profitability - EBITDA rose to $5.8 million for the first nine months of 2025, up from $1.0 million in the prior year[7] - EBITDA for the three months ended September 30, 2025, was $2.9 million, significantly up from $0.4 million in the same period of 2024[20] - EBITDA for the nine months ended September 30, 2025, reached $5.8 million, compared to $0.9 million in the same period of 2024[20] Expenses and Costs - Total operating expenses decreased to $23.5 million from $26.0 million in the prior-year period[6] - Interest expense decreased to $0.5 million for the three months ended September 30, 2025, down from $0.8 million in 2024[20] - Share-based compensation was $0.2 million for the three months ended September 30, 2025, while there was no expense recorded in the same period of 2024[20] - Provision for income taxes for the three months ended September 30, 2025, was $0.2 million, compared to $0.5 million in 2024[20] - Depreciation and amortization for the three months ended September 30, 2025, was $0.2 million, slightly down from $0.3 million in 2024[20] Assets and Liabilities - Assets Under Management (AuM) grew by 11% year-over-year to $30.0 billion as of September 30, 2025[6] - Cash and cash equivalents stood at $8.3 million, with outstanding long-term debt of $18.2 million as of September 30, 2025[8] Outlook and Confidence - The company remains confident in its growth opportunities amid a dynamic macro environment[3]

Financial Performance - For the three months ended September 30, 2025, the company reported a net income of approximately $1.8 million, compared to a net loss of $(1.2) million for the same period in 2024, representing a significant turnaround [136]. - Total revenue for the three months ended September 30, 2025, was approximately $46.2 million, an increase of 9.5% from $42.2 million in the same period in 2024 [148]. - Gross profit for the three months ended September 30, 2025, was $9.0 million, reflecting a 7.5% increase from $8.4 million in the same period in 2024 [141]. - EBITDA for the three months ended September 30, 2025, was $2.9 million, compared to $0.4 million for the same period in 2024, showing substantial improvement [148]. - Net income for the three months ended September 30, 2025, was $1,760,000, a significant increase of 253.1% from a loss of $1,150,000 in 2024, and for the nine months, net income was $2,141,000 compared to a loss of $3,467,000 in 2024 [154]. - Total revenues for the three months ended September 30, 2025, increased by 9.5% to $46,198,000 compared to $42,197,000 in 2024, and for the nine months, revenues rose by 9.9% to $136,632,000 from $124,295,000 [154]. Asset Management - Total advisory and brokerage assets served were $29.9 billion at September 30, 2025, up from $27.0 billion at September 30, 2024, indicating a growth of 10.7% [137]. - Advisory assets increased by 16% to $2.9 billion at September 30, 2025, compared to $2.5 billion at September 30, 2024 [138]. - Brokerage assets as of September 30, 2025, were $27.0 billion, up from $24.5 billion in 2024, reflecting a market impact of $2.1 billion for the three months [162]. - Trail-eligible assets increased to $18.5 billion as of September 30, 2025, from $17.0 billion in 2024 [161]. Revenue Sources - Commission revenue for the three months ended September 30, 2025, was $37,370,000, a 7.4% increase from $34,780,000 in 2024, while for the nine months, it rose by 9.4% to $112,506,000 from $102,836,000 [161]. - Advisory fees increased by 18.6% to $7,407,000 for the three months ended September 30, 2025, and by 14.8% to $20,948,000 for the nine months compared to the same periods in 2024 [165]. Expenses and Costs - Total expenses for the three months ended September 30, 2025, increased by 3.4% to $44,248,000 from $42,810,000 in 2024, while for the nine months, expenses rose by 5.4% to $133,785,000 from $126,872,000 [154]. - Employee compensation and benefits rose by 18.8% to $4,679,000 for the three months ended September 30, 2025, and by 27.0% to $13,956,000 for the nine months compared to 2024 [154]. - Professional fees decreased by approximately $0.6 million for the three-month period and $4.3 million for the nine-month period ended September 30, 2025, due to non-recurring transaction costs from the Business Combination in 2024 [176]. - Technology fees increased by $0.2 million and $1.0 million for the three and nine-month periods ended September 30, 2025, respectively, compared to 2024 [177]. Economic Environment - The U.S. economy grew by approximately 3% in the third quarter of 2025, with an unemployment rate of 4.3%, up from 4.1% in the previous quarter [150]. - The Federal Reserve cut interest rates by 0.25% during the third quarter of 2025, impacting short-term interest rates and market conditions [151]. - The S&P 500 increased by 8.1% in the third quarter of 2025, contributing to a year-to-date performance of approximately 14.8% [151]. Cash Flow and Financing - Net cash provided by operating activities increased to $2.0 million for the nine-month period ended September 30, 2025, compared to a net cash used of $2.4 million in the same period of 2024, representing an increase of approximately $4.5 million or 185% [205]. - Net cash used in investing activities was $0.1 million for the nine-month period ended September 30, 2025, compared to $0.02 million in the same period of 2024 [206]. - Net cash used in financing activities was approximately $2.1 million for the nine-month period ended September 30, 2025, compared to cash provided of approximately $2.1 million in the same period of 2024 [207]. Debt and Obligations - As of September 30, 2025, the outstanding balance on the Term Loan was $18.2 million, down from $19.6 million as of December 31, 2024 [185]. - Long-term debt obligations totaled $18.8 million, with $10.2 million due in 3-5 years [209]. - The estimated fair value of reporting units was approximately 270% greater than their carrying value as of December 31, 2024, indicating no impairment was necessary [216]. - The company believes credit risk exposure is limited due to routine assessments of the financial strength of counterparties [225].