Core Insights - Akeso, Inc. announced positive results from a Phase Ib/II clinical study of cadonilimab for advanced non-small cell lung cancer (NSCLC) patients who progressed after prior PD-(L)1 inhibitor treatment [1][2][3] Study Overview - The AK104-IIT-018 study is a prospective, open-label, single-arm, multicenter trial conducted across four centers in China, initiated in February 2023 [3] - The study enrolled patients with unresectable, incurable locally advanced or metastatic NSCLC who had previously received PD-1/L1 inhibitors and platinum-based chemotherapy [3][4] Efficacy Results - The treatment demonstrated a 6-month progression-free survival (PFS) rate of 56.9%, with a median PFS of 6.5 months, and a disease control rate (DCR) of 94.0% [2][5][7] - The overall objective response rate (ORR) was 30.3%, significantly higher than the 14% observed with docetaxel monotherapy [6] Patient Demographics - As of May 31, 2024, 46 patients were enrolled, with 41.3% having non-squamous NSCLC and 58.7% having squamous NSCLC [4] - 10.9% of patients had brain metastasis, 6.5% had liver metastasis, and 23.9% had bone metastasis [4] Safety Profile - The combination therapy of cadonilimab, anlotinib, and docetaxel was well-tolerated, with manageable adverse events and a favorable safety profile [8] Treatment Context - Current treatment options for advanced, driver gene-negative NSCLC after first-line immunotherapy are limited, with standard chemotherapy showing an ORR of 14%-17% and a 6-month PFS rate of approximately 30% [9] - Cadonilimab, a bispecific antibody targeting PD-1 and CTLA-4, shows potential as a new treatment option for immune-resistant NSCLC [9][10] Company Background - Akeso is a biopharmaceutical company focused on innovative biological medicines, with a robust pipeline of over 50 assets in various disease areas, including cancer [12] - The company has developed a unique integrated R&D innovation system and has 22 candidates in clinical trials, with 5 new drugs commercially available [12]

Financial Performance - Net income attributable to Loews Corporation for Q3 2024 was $401 million, or $1.82 per share, compared to $253 million, or $1.12 per share in Q3 2023, representing a 58.5% increase in net income [160]. - For the nine months ended September 30, 2024, net income attributable to Loews Corporation was $1,227 million, or $5.54 per share, up from $988 million, or $4.31 per share in the same period of 2023, reflecting a 24.2% increase [160]. - Net income attributable to Loews Corporation for the latest quarter was $150 million, up from $107 million in the previous quarter, representing an increase of 40.2% [178]. - Core income for the latest quarter was $178 million, compared to $133 million in the previous quarter, reflecting a growth of 33.8% [178]. - The company reported a total core income of $1,098 million for the nine months ended September 30, 2024, compared to $974 million for the same period in the previous year, marking a 12.7% increase [181]. Insurance Operations - CNA Financial reported insurance premiums of $2,593 million for Q3 2024, an increase from $2,406 million in Q3 2023, marking an 7.8% growth [165]. - CNA's total revenues for the nine months ended September 30, 2024, reached $10,581 million, up from $9,792 million in the same period of 2023, representing an 8.0% increase [165]. - Gross written premiums for the latest quarter totaled $3,595 million, with net earned premiums at $2,484 million [184]. - Gross written premiums for the nine months ended September 30, 2024, totaled $11,409 million, an increase from $10,953 million in the comparable 2023 period [188][190]. - Net written premiums for the nine months ended September 30, 2024, reached $7,424 million, up from $6,938 million in the same period last year, reflecting a growth of approximately 7% [188][190]. Investment Income - Net investment income for CNA Financial increased to $626 million in Q3 2024 from $553 million in Q3 2023, a rise of 13.2% [165]. - Net investment income for the latest quarter was $(136) million, a decline from $(470) million in the previous quarter [182]. - Net investment income for the nine months ended September 30, 2024, was $1,090 million, compared to $951 million in the same period last year, showing an increase of approximately 14.6% [188][190]. - CNA's total fixed income securities net investment income was $1,555 million for the nine months ended September 30, 2024, compared to $1,469 million in 2023 [266]. - CNA's net investment income increased by $73 million and $200 million for the three and nine months ended September 30, 2024, compared to the same periods in 2023 [266]. Catastrophe Losses - The effect of catastrophe losses in the latest quarter was $190 million, impacting overall profitability [182]. - Catastrophe losses for the three months ended September 30, 2024, were $143 million, up from $94 million in the same period last year, primarily due to severe weather events [195]. - Catastrophe losses for Property & Casualty Operations rose to $313 million for the nine months ended September 30, 2024, compared to $214 million in the same period of 2023 [205]. Operational Metrics - The loss ratio for the latest quarter was 60.1%, while the combined ratio stood at 93.0% [185]. - The loss ratio for the nine months ended September 30, 2024, was 64.9%, compared to 63.1% in the comparable 2023 period, showing a deterioration of 1.8 percentage points [189][190]. - The combined ratio for the nine months ended September 30, 2024, was 95.6%, an increase from 94.0% in the same period last year, reflecting a decline in underwriting performance [189][190]. - The expense ratio for the nine months ended September 30, 2024, was 30.3%, compared to 30.6% in the same period last year, indicating a slight improvement [189][190]. - The retention rate for the nine months ended September 30, 2024, was 85%, consistent with the previous year, reflecting stable customer loyalty [189][190]. Corporate Developments - Loews Hotels & Co reported a net loss of $8 million in Q3 2024, down from a net income of $17 million in Q3 2023, reflecting a significant decline [160]. - The Corporate segment recorded a net income of $73 million in Q3 2024, compared to a net loss of $48 million in Q3 2023, showing a turnaround [160]. - Operating revenues for Loews Hotels & Co improved by $100 million for the nine months ended September 30, 2024, attributed to the opening of the Loews Arlington Hotel and Convention Center and higher occupancy levels [236]. - Loews Corporation repurchased 4.6 million shares of its common stock in 2024 for a total cost of $353 million as of November 1, 2024 [248]. - CNA paid cash dividends of $3.32 per share during the nine months ended September 30, 2024, including a special cash dividend of $2.00 per share [251]. Capital Expenditures and Financing - Boardwalk Pipelines' capital expenditures for the nine months ended September 30, 2024, were $292 million, up from $232 million in 2023 [255]. - Interest expenses increased by $20 million for the nine months ended September 30, 2024, mainly due to pre-financing Boardwalk Pipeline's $600 million of debt maturing in December 2024 [232]. - As of September 30, 2024, Boardwalk Pipelines had $1.0 billion available under its revolving credit facility [256]. - Loews Hotels & Co refinanced $413 million in mortgage loans due within twelve months in 2024 [259]. Market Conditions and Risks - Forward-looking statements indicate that future financial performance is subject to various risks and uncertainties that could materially affect actual results [279]. - The company acknowledges that certain accounting estimates may be adjusted in the future based on new information and changing circumstances [276]. - CNA periodically reviews the sensitivity of its investment portfolio to foreign exchange rates and other market price changes [275]. - The company emphasizes the importance of aligning the duration of its investment portfolio with corresponding liabilities to manage interest rate risk [274].

Financial Performance - Loews Corporation reported net income of $401 million, or $1.82 per share, for Q3 2024, a 58% increase from $253 million, or $1.12 per share, in Q3 2023[2] - For the nine months ended September 30, 2024, net income was $1,227 million, or $5.54 per share, compared to $988 million, or $4.31 per share, in the same period of 2023[8] - Net income attributable to Loews Corporation for Q3 2024 was $401 million, up 58.5% from $253 million in Q3 2023[17] - The net income per share attributable to Loews Corporation increased to $1.82 in Q3 2024, compared to $1.12 in Q3 2023, marking a 62.5% rise[17] Revenue and Investment - Total revenues for the nine months ended September 30, 2024, reached $12,964 million, a 11.3% increase from $11,643 million in the same period of 2023[17] - Net investment income increased to $776 million in Q3 2024, compared to $592 million in Q3 2023, representing a 31.1% growth[17] - CNA Financial's net income attributable to Loews improved by 10% to $259 million in Q3 2024, driven by higher net investment income despite increased catastrophe losses[4] Insurance Operations - CNA's net written premiums grew by 8% in Q3 2024, driven by strong retention and new business[4] - The Property and Casualty combined ratio for CNA was 97.2% in Q3 2024, up from 94.3% in Q3 2023, reflecting higher catastrophe losses[4] - Insurance premiums for Q3 2024 were $2,593 million, up 7.8% from $2,406 million in Q3 2023[17] - CNA's core income for Q3 2024 was $293 million, slightly up from $289 million in Q3 2023[20] - The loss ratio for CNA in Q3 2024 was 66.7%, compared to 63.9% in Q3 2023, indicating a deterioration in underwriting performance[21] Segment Performance - Boardwalk Pipelines' net income rose 57% to $77 million in Q3 2024, supported by increased revenues from re-contracting at higher rates and growth projects[5] - Boardwalk Pipelines reported an EBITDA of $249 million for Q3 2024, up from $202 million in Q3 2023, reflecting a 23.3% increase[22] - Loews Hotels reported a net loss of $8 million in Q3 2024, down from a net income of $17 million in Q3 2023, primarily due to an impairment charge[6] - Loews Hotels & Co's Adjusted EBITDA for Q3 2024 was $64 million, compared to $60 million in Q3 2023, showing a 6.7% growth[24] - Loews Hotels & Co's net income attributable to Loews Corporation for Q3 2024 was a loss of $8 million, down from a profit of $17 million in Q3 2023[24] Shareholder Returns - Book value per share, excluding AOCI, increased to $87.22 as of September 30, 2024, from $81.92 as of December 31, 2023, reflecting strong operating results and share repurchases[2] - Loews Corporation repurchased 0.8 million shares for $64 million in Q3 2024 and an additional 1.2 million shares for $92 million in Q4 2024[9]

Tecentriq Hybreza provides patients and physicians with greater flexibility of treatment options while showing safety and efficacy consistent with intravenous (IV) Tecentriq1,2New subcutaneous (SC) option reduces treatment time to approximately seven minutes, compared with 30-60 minutes for IV infusion2 Basel, 13 September 2024 - Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today that the U.S. Food and Drug Administration (FDA) has approved Tecentriq HybrezaTM (atezolizumab and hyaluronidase-tqjs), the firs ...

NEW YORK, Sept. 9, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today that the Delaware Court of Chancery found no liability in connection with Loews's 2018 acquisition of the minority limited partner interests in its Boardwalk Pipelines subsidiary."We are very pleased that the Delaware Court of Chancery ruled in our favor and continue to believe that the process we undertook in 2018 to purchase the minority units in Boardwalk was appropriate. We are hopeful that this ruling will resolve the l ...

NEW YORK, Aug. 6, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable September 3, 2024 to shareholders of record as of the close of business on August 21, 2024.Loews Corporation is a diversified company with businesses in the insurance, energy, hospitality, and packaging industries. For more information please visit www.loews.com.SOURCE Loews Corporation ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 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 Number 1-06541 LOEWS CORPORATION (Exact name of registrant as specified in its charter) Delaware 13-2646102 (State or other ...

Exhibit 99.1 NEWS RELEASE LOEWS CORPORATION REPORTS NET INCOME OF $369 MILLION FOR THE SECOND QUARTER OF 2024 New York, NY, July 29, 2024: Loews Corporation (NYSE: L) today released its second quarter 2024 financial results. Consolidated highlights: | | | | June 30, | | | | --- | --- | --- | --- | --- | --- | | | Three Months | | | Six Months | | | (In millions) | 2024 | 2023 | 2024 | | 2023 | | Net Income (Loss) Attributable to Loews Corporation: | | | | | | | CNA Financial | $ 291 $ | | 255 $ | 601 $ | 52 ...

Leadership Transition - James Tisch will retire as President and CEO of Loews Corporation on December 31, 2024, and will be succeeded by Benjamin Tisch, the current Senior Vice President of Corporate Development and Strategy [1] - James Tisch will transition to the role of Chairman of the Board of Directors, while Benjamin Tisch and Alexander Tisch will join the Board [1] Board of Directors' Confidence - The Board of Directors expressed confidence in Benjamin Tisch's leadership capabilities, highlighting his skills and attributes necessary for guiding the company [2] - Paul Fribourg, the lead independent director, emphasized Benjamin Tisch's deep knowledge of Loews Corporation and his potential to enhance long-term value creation for shareholders [2] Benjamin Tisch's Background - Benjamin Tisch joined Loews in 2011 and has held various leadership roles, including Vice President and Senior Vice President of Corporate Development and Strategy [2] - Prior to Loews, Benjamin Tisch was a Managing Director at Fortress Investment Group, managing diverse asset classes [3] Company Overview - Loews Corporation operates in diversified sectors including insurance, energy, hospitality, and packaging [3]

NEW YORK, July 9, 2024 /PRNewswire/ -- Loews Corporation (NYSE: L) will report second quarter 2024 financial results on Monday, July 29, 2024. On that date the Company will also post earnings remarks on its website. These remarks will include commentary from the Company's Chief Executive Officer, James S. Tisch, and Chief Financial Officer, Jane Wang.Loews invites shareholders to submit questions for management in advance of earnings. Management may address some or all of these questions in the earnings rem ...