Core Insights - Carisma Therapeutics Inc. is a clinical-stage biopharmaceutical company focused on developing innovative immunotherapies [3] - The company will have its President and CEO, Steven Kelly, participate in a fireside chat at the 7th Annual Evercore ISI HealthCONx Conference on December 5th at 9:35 am ET [1] - An audio webcast of the event will be available on the company's Investor Relations webpage and archived for a limited time [2] Company Overview - Carisma Therapeutics utilizes a proprietary macrophage and monocyte cell engineering platform to develop transformative immunotherapies for cancer and other serious diseases [3] - The company is headquartered in Philadelphia, PA [3] - For more information, the company’s website is www.carismatx.com [3]

LONDON, Nov. 26, 2024 (GLOBE NEWSWIRE) -- Kiniksa Pharmaceuticals International, plc (Nasdaq: KNSA) today announced that management will participate in a fireside chat at the 7th Annual Evercore ISI HealthCONx Conference on Tuesday, December 3, 2024 at 9:35 a.m. Eastern Time. A live webcast of Kiniksa’s presentation will be accessible through the Investors section of the company’s website at www.kiniksa.com. A replay of the event will also be available on Kiniksa’s website within approximately 48 hours afte ...

Core Viewpoint - Evercore's recent earnings report shows strong performance with adjusted earnings per share surpassing estimates, driven by revenue growth in key segments, although rising expenses present a challenge [2][3][5]. Financial Performance - Adjusted earnings per share for Q3 2024 were $2.04, exceeding the Zacks Consensus Estimate of $1.95 and up from $1.30 in the prior year [2]. - Total revenues reached $738.4 million, beating the consensus estimate of $695.4 million, and reflecting a year-over-year increase of 28.6% [4]. - Adjusted net revenues were $739.5 million, up 28.4% year over year, while total expenses rose 24.1% to $612.2 million [5]. Segment Performance - Investment Banking & Equities segment saw net revenues increase by 29% year over year to $712.8 million, with operating income surging 59% to $116.4 million [8]. - Investment Management segment reported net revenues of $21.4 million, a 22% increase from the prior year, with operating income up 55.1% to $5.6 million [8]. Asset Management - Assets Under Management (AUM) stood at $13.9 billion as of September 30, 2024, marking a 23.2% increase year over year [9]. Balance Sheet - As of September 30, 2024, cash and cash equivalents were $533.1 million, with investment securities and certificates of deposit totaling $1.3 billion. Current assets exceeded current liabilities by $1.6 billion [10]. Capital Distribution - In the reported quarter, Evercore repurchased 0.4 million shares at an average price of $236.91 [11]. Market Outlook - Estimates for Evercore have trended downward recently, with a consensus estimate shift of -5.58% [12][13]. The stock currently holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [15]. Industry Comparison - Evercore operates within the Zacks Financial - Investment Bank industry, where competitor Goldman Sachs reported revenues of $12.7 billion, a year-over-year increase of 7.5% [16].

WATERTOWN, Mass., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Werewolf Therapeutics, Inc. (the “Company” or “Werewolf”) (Nasdaq: HOWL), an innovative biopharmaceutical company pioneering the development of conditionally activated therapeutics engineered to stimulate the body’s immune system for the treatment of cancer and other immune-mediated conditions, today announced that Daniel J. Hicklin, Ph.D., President and Chief Executive Officer of Werewolf, and Randi Isaacs, M.D., Chief Medical Officer of Werewolf, will pa ...

Group 1 - BD (Becton, Dickinson and Company) will present at the 7th Annual Evercore ISI HealthCONx Conference on December 3, 2024, at 10:50 am Eastern Time [1] - A live webcast of the presentation will be available on BD's investor relations website, with a replay accessible after the event [1] Group 2 - BD is one of the largest global medical technology companies, focusing on improving medical discovery, diagnostics, and care delivery [2] - The company employs over 70,000 individuals and is committed to enhancing the safety and efficiency of healthcare delivery [2] - BD collaborates with organizations worldwide to tackle significant global health challenges, aiming to improve outcomes, lower costs, and expand healthcare access [2]

SAN DIEGO, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (Nasdaq: CDTX), a biotechnology company using its proprietary Cloudbreak® platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that Jeffrey Stein, Ph.D., President and Chief Executive Officer, will participate in the Evercore 7th Annual HealthCONx Conference. Details are as follows: Event: Evercore 7th Annual HealthCONx Co ...

Part I. Financial Information [Financial Statements](index=4&type=section&id=Item%201.%20Financial%20Statements) This section presents Evercore's unaudited condensed consolidated financial statements for the period ended September 30, 2024, including statements of financial condition, operations, comprehensive income, changes in equity, and cash flows, with detailed notes explaining accounting policies and financial details [Condensed Consolidated Statements of Financial Condition](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Financial%20Condition) The company's total assets decreased to **$3.57 billion** as of September 30, 2024, from **$3.70 billion** at year-end 2023, primarily due to a reduction in Cash and Cash Equivalents and Investment Securities, while total liabilities also decreased to **$1.79 billion** from **$1.92 billion**, mainly from a reduction in Accrued Compensation and Benefits, with total equity remaining relatively stable at **$1.78 billion** Condensed Consolidated Statements of Financial Condition (Unaudited) | (in thousands) | September 30, 2024 (in thousands) | December 31, 2023 (in thousands) | | :--- | :--- | :--- | | **Assets** | | | | Cash and Cash Equivalents | $533,109 | $596,878 | | Investment Securities and Certificates of Deposit | $1,287,118 | $1,436,883 | | Accounts Receivable | $415,494 | $371,606 | | Total Current Assets | $2,479,865 | $2,605,217 | | Total Assets | $3,567,547 | $3,703,298 | | **Liabilities and Equity** | | | | Accrued Compensation and Benefits | $629,289 | $763,160 | | Total Current Liabilities | $831,750 | $910,059 | | Notes Payable | $337,971 | $373,885 | | Total Liabilities | $1,787,593 | $1,920,808 | | Total Equity | $1,779,954 | $1,782,490 | | Total Liabilities and Equity | $3,567,547 | $3,703,298 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For the third quarter of 2024, Evercore reported a **29% increase** in Net Revenues to **$734.2 million** and a **50% increase** in Net Income Attributable to Evercore Inc. to **$78.4 million**, compared to the same period in 2023, with diluted EPS for the quarter rising to **$1.86** from **$1.30**, and for the nine-month period, Net Revenues grew **22%** to **$2.00 billion**, and Net Income Attributable to Evercore Inc. increased **38%** to **$237.8 million**, with diluted EPS at **$5.76** versus **$4.33** in the prior year Key Operating Results (Unaudited, in thousands, except per share data) | Metric | Q3 2024 (in thousands) | Q3 2023 (in thousands) | YTD 2024 (in thousands) | YTD 2023 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | **Net Revenues** | $734,222 | $570,220 | $2,004,261 | $1,641,782 | | Advisory Fees | $592,980 | $467,401 | $1,591,049 | $1,304,519 | | Total Expenses | $612,229 | $493,394 | $1,689,905 | $1,400,336 | | Employee Compensation and Benefits | $488,010 | $391,730 | $1,334,650 | $1,096,976 | | **Net Income Attributable to Evercore Inc.** | $78,393 | $52,148 | $237,844 | $172,731 | | **Diluted EPS** | $1.86 | $1.30 | $5.76 | $4.33 | [Condensed Consolidated Statements of Cash Flows](index=10&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2024, net cash provided by operating activities was **$301.8 million**, a significant increase from **$42.3 million** in the prior year, driven by higher net income, while investing activities provided **$179.1 million**, primarily from net proceeds of investment securities, and financing activities used **$550.7 million**, mainly for treasury stock purchases and dividends, resulting in a net decrease in cash of **$63.5 million** for the period Cash Flow Summary (Unaudited, in thousands) | Cash Flow Activity | Nine Months Ended Sep 30, 2024 (in thousands) | Nine Months Ended Sep 30, 2023 (in thousands) | | :--- | :--- | :--- | | Net Cash Provided by Operating Activities | $301,767 | $42,324 | | Net Cash Provided by Investing Activities | $179,131 | $290,465 | | Net Cash Used in Financing Activities | ($550,651) | ($510,604) | | **Net Decrease in Cash** | **($63,455)** | **($170,671)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=11&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) This section provides detailed explanations of the company's accounting policies and financial data, covering business organization, revenue recognition, investments, leases, debt, equity, share-based compensation, income taxes, and segment results, with notable events including the sale of the remaining interest in ABS and the redemption of the interest in Luminis - The company operates through two main segments: Investment Banking & Equities and Investment Management[22](index=22&type=chunk)[23](index=23&type=chunk) Revenue by Segment (Unaudited, in thousands) | Segment | Q3 2024 (in thousands) | Q3 2023 (in thousands) | YTD 2024 (in thousands) | YTD 2023 (in thousands) | | :--- | :--- | :--- | :--- | :--- | | Investment Banking & Equities | $691,671 | $546,912 | $1,877,711 | $1,543,226 | | Investment Management | $20,555 | $17,304 | $58,454 | $49,837 | - In July 2024, the company sold its remaining 26% ownership interest in ABS for **$18.1 million**, resulting in a gain of **$615 thousand**[57](index=57&type=chunk) - In September 2024, the company redeemed its interest in Luminis for no consideration, resulting in a write-off and a loss of **$7.3 million**, which was recorded under Special Charges[60](index=60&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=38&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance for the third quarter and first nine months of 2024, highlighting a **27% increase** in Q3 Advisory Fees and a **43% rise** in Underwriting Fees year-over-year, reflecting improved M&A and capital markets activity, covering segment performance, liquidity, capital resources, and market risks, and emphasizing its share repurchase program and strong liquidity position despite market uncertainties [Results of Operations](index=42&type=section&id=Results%20of%20Operations) For Q3 2024, Net Revenues increased **29%** YoY to **$734.2 million**, driven by a **27%** rise in Advisory Fees and a **43%** increase in Underwriting Fees, with Net Income Attributable to Evercore Inc. growing **50%** to **$78.4 million**, and for the nine-month period, Net Revenues were up **22%** to **$2.0 billion**, and Net Income Attributable to Evercore Inc. rose **38%** to **$237.8 million**, reflecting higher business activity and increased headcount, leading to higher compensation and non-compensation expenses Financial Performance Summary (Unaudited, in thousands) | Metric | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change | YTD 2024 (in thousands) | YTD 2023 (in thousands) | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Revenues | $734,222 | $570,220 | 29% | $2,004,261 | $1,641,782 | 22% | | Total Expenses | $612,229 | $493,394 | 24% | $1,689,905 | $1,400,336 | 21% | | Net Income Attributable to Evercore Inc. | $78,393 | $52,148 | 50% | $237,844 | $172,731 | 38% | - The increase in Q3 2024 operating expenses was primarily due to a **$96.3 million (25%)** rise in Employee Compensation and Benefits, reflecting a higher accrual for incentive compensation and increased amortization of deferred awards[213](index=213&type=chunk) - A special charge of **$7.3 million** was recorded in Q3 2024 related to the write-off of the company's investment in Luminis[214](index=214&type=chunk) [Business Segments](index=45&type=section&id=Business%20Segments) The Investment Banking & Equities segment saw a **29%** YoY increase in Q3 Net Revenues to **$712.8 million**, driven by higher advisory and underwriting fees, while the Investment Management segment's Q3 Net Revenues grew **22%** to **$21.4 million**, supported by a **13% increase** in Assets Under Management (AUM) to **$13.9 billion** since year-end 2023, primarily due to market appreciation Investment Banking & Equities Segment Performance (Unaudited, in thousands) | Metric | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change | YTD 2024 (in thousands) | YTD 2023 (in thousands) | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Revenues | $712,775 | $552,641 | 29% | $1,944,513 | $1,589,698 | 22% | | Pre-Tax Income | $116,594 | $73,392 | 59% | $299,961 | $230,318 | 30% | Investment Management Segment Performance (Unaudited, in thousands) | Metric | Q3 2024 (in thousands) | Q3 2023 (in thousands) | Change | YTD 2024 (in thousands) | YTD 2023 (in thousands) | Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Net Revenues | $21,447 | $17,579 | 22% | $59,748 | $52,084 | 15% | | Pre-Tax Income | $6,471 | $5,098 | 27% | $19,649 | $15,802 | 24% | Wealth Management AUM Activity (in millions) | AUM Activity | Nine Months Ended Sep 30, 2024 (in millions) | | :--- | :--- | | Balance at December 31, 2023 | $12,272 | | Inflows | $965 | | Outflows | ($794) | | Market Appreciation | $1,444 | | **Balance at September 30, 2024** | **$13,887** | [Liquidity and Capital Resources](index=51&type=section&id=Liquidity%20and%20Capital%20Resources) As of September 30, 2024, Evercore maintained a strong liquidity position with **$533.1 million** in Cash and Cash Equivalents and **$1.29 billion** in Investment Securities and Certificates of Deposit, with liquidity primarily funded by operating cash flows, and during the first nine months of 2024, the company repurchased **2.2 million** Class A shares for **$417.9 million**, also renewing its revolving credit facilities in October 2024, establishing a new unsecured facility of **$85 million** - The company's liquidity is highly dependent on revenue from its Investment Banking & Equities segment, which is tied to the successful closing of client transactions[263](index=263&type=chunk) - During the nine months ended September 30, 2024, the company repurchased an aggregate of **2,203,024 Class A shares** for **$417.9 million**, including **1,218,540 shares** under the repurchase program and **984,484 shares** for employee tax withholding[267](index=267&type=chunk)[268](index=268&type=chunk)[269](index=269&type=chunk) - In October 2024, upon maturity of its existing credit facilities, the company established a new unsecured revolving credit facility with PNC for up to **$85.0 million**, maturing in October 2025[278](index=278&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=57&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company states that it does not face material interest rate risk, foreign currency exchange risk, equity price risk, or other market risks beyond what is disclosed in the MD&A section, with primary risks identified related to market and investment risk from its deferred compensation hedge portfolio, private equity investments, foreign exchange rate fluctuations, and credit risk from accounts receivable - The company's primary market risks stem from its investment portfolio used to hedge deferred compensation, private equity fund investments, foreign currency exposure from international operations, and credit risk associated with client receivables[288](index=288&type=chunk)[302](index=302&type=chunk) [Controls and Procedures](index=58&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective at a reasonable assurance level as of September 30, 2024, with no material changes made to the internal control over financial reporting during the third quarter of 2024 - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of the end of the reporting period[304](index=304&type=chunk) - There were no changes during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[305](index=305&type=chunk) Part II. Other Information [Legal Proceedings](index=59&type=section&id=Item%201.%20Legal%20Proceedings) The company is involved in various judicial or regulatory proceedings in the normal course of business, however, management believes that there are no material pending proceedings that would have a material effect on the company's financial condition - The company states that it is not currently party to any material pending legal proceedings that would have a material effect on its financial results[307](index=307&type=chunk) [Issuer Purchases of Equity Securities](index=59&type=section&id=Item%202.%20Market%20for%20Registrant%27s%20Common%20Equity%2C%20Related%20Stockholder%20Matters%2C%20and%20Issuer%20Purchases%20of%20Equity%20Securities) This section details the company's repurchases of its equity securities, with a total of **425,492 shares** repurchased at an average price of **$235.96** per share during the third quarter of 2024 (July to September), and for the nine months ended September 30, 2024, a total of **2,203,024 shares** were repurchased at an average price of **$189.69** per share Issuer Purchases of Equity Securities (Q3 2024) | Period | Total Shares Purchased | Average Price Paid Per Share (in dollars) | Shares Purchased as Part of Publicly Announced Program | | :--- | :--- | :--- | :--- | | July 2024 | 159,671 | $244.89 | 144,562 | | August 2024 | 261,705 | $230.39 | 252,190 | | September 2024 | 4,116 | $244.15 | — | | **Total Q3 2024** | **425,492** | **$235.96** | **396,752** | - The company has a share repurchase program authorized on February 22, 2022, for the lesser of **$1.4 billion** or **10.0 million shares/units**, with **4,356,629 shares/units** remaining available for repurchase under this program as of September 30, 2024[308](index=308&type=chunk) [Exhibits](index=61&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including certifications from the CEO and CFO pursuant to the Sarbanes-Oxley Act and Inline XBRL data files - Exhibits filed include CEO and CFO certifications (Rule 13a-14(a) and Section 1350) and financial statements formatted in Inline XBRL[311](index=311&type=chunk)

Financial Data and Key Metrics Changes - The company generated approximately $740 million in adjusted net revenues, up 28% year-over-year, driven by improvements in the macroeconomic environment and capital markets [6][17] - Adjusted operating income for the third quarter was $135 million, an increase of 63% compared to the same period last year [17] - Adjusted earnings per share (EPS) reached $2.04, up 57% year-over-year [17] - The adjusted operating margin improved to 18.2%, up from 14.4% in the same quarter last year, representing an increase of approximately 385 basis points [17] Business Line Data and Key Metrics Changes - Adjusted Advisory Fees were $593 million, reflecting a 27% increase year-over-year, consistent with the rise in macroeconomic conditions [18] - Underwriting Fees increased to $44 million, up 43% from the previous year, indicating improved diversification across sectors [18] - Asset Management and Administration Fees rose to $21 million, a 14% increase year-over-year, driven by record assets under management (AUM) [19] Market Data and Key Metrics Changes - The company noted a robust pipeline of deals across various sizes, with a 26% increase in transactions over $1 billion year-to-date [29][31] - The European Advisory Team showed strength, although the recovery in the European M&A market still lags behind the U.S. [9][10] Company Strategy and Development Direction - The company is focused on gradual recovery and is optimistic about the market and its results improving over the coming quarters [14] - Investments in talent and diversification of services are ongoing, with a commitment to expanding industry and geographic reach [14][8] - The company aims to enhance client coverage and deepen product capabilities across various sectors [14] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in a gradual recovery, with expectations for increased activity levels in the coming months and into 2025 [7][14] - Concerns about the upcoming U.S. election and geopolitical tensions were acknowledged, but management remains optimistic about the firm's backlog and market positioning [6][14] Other Important Information - The company returned $529 million to shareholders through dividends and share repurchases in the first nine months of the year, exceeding total returns for all of 2023 [23] - The firm has a strong focus on maintaining a healthy balance sheet, with cash and investment securities totaling $1.8 billion [22] Q&A Session Summary Question: Inquiry on the compensation ratio and its trajectory - Management indicated that improvements in the compensation ratio are expected to be gradual, balancing firm growth with shareholder value [25][26] Question: Update on the size of deals in the pipeline - The pipeline is robust with deals of various sizes, and there is an expectation for sizable deals despite regulatory uncertainties [29][30] Question: Advisory recovery cadence and backlog status - Management noted that while backlogs have come down slightly, there is healthy activity brewing within the firm, and they remain optimistic about future performance [32][34] Question: Restructuring performance and client dialogues - The restructuring business is very active, with no slowdown observed, and management expects this momentum to continue into 2025 [37] Question: Update on the Equity Capital Markets (ECM) business - The ECM business is gaining momentum, with aspirations to enter the top 10 market share, and management is optimistic about future growth [39][40] Question: Growth profile of Private Capital Advisory - The Private Capital Advisory business is performing well, with strong backlogs and continued growth expected [42][43] Question: Sponsor activity and market recovery - Management indicated that sponsor activity is gathering steam, with increased dialogues and pressure to deploy capital [45][46] Question: Update on European Advisory business - The company is committed to investing in Europe, with recent hires aimed at strengthening the franchise and capturing growth opportunities [48][49]

For the quarter ended September 2024, Evercore (EVR) reported revenue of $739.54 million, up 28.8% over the same period last year. EPS came in at $2.04, compared to $1.30 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $695.38 million, representing a surprise of +6.35%. The company delivered an EPS surprise of +4.62%, with the consensus EPS estimate being $1.95.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how ...

Evercore (EVR) came out with quarterly earnings of $2.04 per share, beating the Zacks Consensus Estimate of $1.95 per share. This compares to earnings of $1.30 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.62%. A quarter ago, it was expected that this investment bank would post earnings of $1.66 per share when it actually produced earnings of $1.81, delivering a surprise of 9.04%.Over the last four quarters, the company ha ...