Core Insights - BioMark Diagnostics has published a significant study on using metabolomics and machine learning to identify biomarkers for pulmonary neuroendocrine neoplasms (NENs), which could enhance early diagnosis and monitoring of this type of cancer [2][3]. Company Overview - BioMark Diagnostics Inc. is a leading developer of liquid biopsy tests aimed at early cancer detection, utilizing metabolomics and machine learning algorithms [9]. - The company's technology allows for a non-invasive method to detect NENs and has shown clinical utility in early detection of other difficult-to-detect cancers, such as lung cancer [4]. Research Findings - The study analyzed 153 metabolites from a cohort of 657 samples, including NEN patients, healthy controls, and individuals with non-small cell lung cancers (NSCLCs), revealing significant metabolic alterations associated with NENs [3]. - These findings contribute to the understanding of cancer metabolism and its clinical applications, potentially leading to new biomarkers for early detection and improved management of lung NENs [3]. Industry Context - Lung cancer is the leading cause of cancer deaths globally, with 20% of newly diagnosed lung cancers originating from the pulmonary neuroendocrine system [6]. - NENs are challenging due to their varied clinical features and aggressive nature, with carcinoid tumors having a 10-year survival rate of 58-83%, while neuroendocrine carcinomas have a much lower survival rate of 17% [6]. Liquid Biopsy Advantages - Liquid biopsy has gained traction as a diagnostic tool for pulmonary tumors due to its ease of access, quick turnaround time, and feasibility when tissue biopsies are not possible [8].

Financial Performance - Net income for the six months ended June 30, 2024, was $7,536,322, representing a 89.1% increase compared to $3,979,341 for the same period in 2023[11]. - Comprehensive income for the three months ended June 30, 2024, was $4,105,250, an increase of 71.5% from $2,392,606 in the same period last year[11]. - Net income for the six months ended June 30, 2024, was $7,536,322, compared to $3,979,341 for the same period in 2023, representing an increase of approximately 89%[16]. - Net cash provided by operating activities increased to $11,487,102 for the six months ended June 30, 2024, up from $6,499,216 in 2023, reflecting a growth of about 77%[16]. - For the six months ended June 30, 2024, total revenues were $13,407,619, with rental income contributing $13,280,729[95]. - Net income for the six months ended June 30, 2024, was approximately $7,536,000, an increase of approximately $3,557,000 (89.4%) compared to $3,979,000 in 2023[153]. Revenue and Income Sources - Rental income for the three months ended June 30, 2024, increased to $19,841,559, up 10.4% from $17,964,963 for the same period in 2023[9]. - Approximately 94% of rental income during the six months ended June 30, 2024, was derived from residential leases, with the remaining 6% from commercial properties[63]. - Rental income for the six months ended June 30, 2024, was approximately $39,551,000, an increase of approximately $4,018,000 (11.3%) compared to $35,533,000 in 2023[149]. - The minimum future rental income from commercial leases at June 30, 2024, is projected to be $21,927,620[63]. Assets and Liabilities - Total assets as of June 30, 2024, are $383,700,368, a decrease of 0.3% from $385,730,690 on December 31, 2023[6]. - Total liabilities as of June 30, 2024, were $450,688,131, a slight decrease from $451,085,074 on December 31, 2023[6]. - Total cash and cash equivalents were approximately $14,809,000 as of June 30, 2024, down from $18,711,000 at December 31, 2023[35]. - Total assets amounted to $113,292,995, with rental properties valued at $104,760,781, indicating strong asset growth[100]. - Total liabilities amount to $172,621,110, with mortgage notes payable at $165,905,350[94]. Cash Flow and Investments - Cash and cash equivalents decreased to $13,463,294 as of June 30, 2024, down 26.1% from $18,230,463 on December 31, 2023[6]. - Net cash used in investing activities was $(5,517,101) for the six months ended June 30, 2024, compared to a net cash provided of $9,379,938 in 2023, indicating a shift of approximately $14.9 million[16]. - The company invested $(83,635,733) in U.S. Treasury bills during the period, compared to $(68,355,526) in the same period last year, reflecting an increase of about 22%[16]. - Cash paid for interest during the six months ended June 30, 2024, was approximately $7,649,000, compared to $7,678,000 for the same period in 2023[66]. Debt and Financing - As of June 30, 2024, the Partnership's total debt outstanding is approximately $407,457,000 after accounting for unamortized deferred financing costs of $2,589,000[52]. - The Partnership's line of credit was modified on October 29, 2021, extending the commitment amount to $25 million, but restricted to $17 million during the modification period[55]. - The Partnership's long-term debt matures through 2035, indicating a long-term financial commitment[167]. - The primary market risk faced by the Partnership is interest rate risk, which could affect its ability to make distributions to investors[166]. Operational Metrics - The weighted average number of units outstanding for the three months ended June 30, 2024, was 117,139, compared to 118,764 for the same period in 2023[9]. - The occupancy rate for residential units improved to 98.55% in August 2024 from 98.2% in August 2023, while the commercial vacancy rate decreased to 1.00% from 1.3%[137]. - Tenant renewals accounted for approximately 71% with an average rental increase of 6.2%, while new leases made up 29% with increases of 6.7% during the first half of 2024[118]. Management and Governance - Management fees paid to The Hamilton Company were approximately $1,571,000 for the six months ended June 30, 2024, compared to $1,363,000 for the same period in 2023[44]. - Management has evaluated the effectiveness of the Partnership's disclosure controls and procedures, concluding they are effective[168]. - There were no changes in internal control over financial reporting that materially affected the Management Company's controls during the quarter ended June 30, 2024[169]. Market Conditions and Competition - The Partnership faces competition from similar properties, which may impact tenant attraction and rental rates[164]. - The Partnership anticipates that the Mill Street Development project will require approximately $30 million in spending over the next two years, with approximately $10 million to be spent in 2024[159].

Distribution Announcement - New England Realty Associates Limited Partnership will make a quarterly distribution on September 30, 2024 [1] - The distribution amount for Class A Limited Partnership Units is set at $12.00 per Unit [1] - The distribution for Depositary Receipts will be $0.40, with each Receipt representing one-thirtieth of a Class A Partnership Unit [1] Record Date - The record date for the distribution is September 13, 2024 [1] - Holders of Depositary Receipts and Class A Limited Partners as of this date will be eligible for the distribution [1] Trading Information - Depositary Receipts are listed on The NYSE MKT under the trading symbol "NEN" [1]

Financial Performance - Rental income for Q1 2024 increased to $19,710,432, up 12.2% from $17,568,727 in Q1 2023[18] - Net income for Q1 2024 was $3,463,596, representing a 97.3% increase compared to $1,754,375 in Q1 2023[20] - Comprehensive income for Q1 2024 was $3,605,630, compared to $1,588,488 in Q1 2023, reflecting a significant increase[20] - Net cash provided by operating activities for Q1 2024 was $6,123,747, compared to $1,665,543 in Q1 2023[27] - For the three months ended March 31, 2024, net income per Depositary Receipt was $0.98, up from $0.49 in the same period of 2023, representing a 100% increase[88] - Total distributions per Depositary Receipt increased to $2.00 in Q1 2024 from $1.60 in Q1 2023, marking a 25% increase[88] - The Partnership's share of net income from Investment Properties was approximately $441,000 for the three months ended March 31, 2024, an increase of approximately $213,000 (93.8%) from $228,000 in the same period last year[191] Cash and Liquidity - Cash and cash equivalents rose to $28,801,744 as of March 31, 2024, compared to $18,230,463 at the end of 2023, marking a 58% increase[15] - Cash provided by operating activities was $6,123,747 for the three months ended March 31, 2024, compared to $1,665,543 for the same period in 2023, indicating a significant improvement[194] - The Partnership's cash equivalents totaled $28,801,744 as of March 31, 2024, reflecting a stable liquidity position[102] - The Partnership's cash reserves have been adequate to fully fund property improvements, indicating strong liquidity management[195] Assets and Liabilities - Total assets decreased slightly to $381,191,994 from $385,730,690 at the end of 2023[15] - Total liabilities remained relatively stable at $450,233,094, down from $451,085,074 at the end of 2023[15] - As of March 31, 2024, the Partnership's total liabilities amounted to $573,997,996, with mortgage payables for Partnership properties at $408,060,293[102] - Total liabilities reached $172,028,058, with mortgage notes payable accounting for $165,937,703[126] - The Partnership's long-term debt as of March 31, 2024, amounted to approximately $577,068,000, with most requiring fixed interest payments[209] Property and Investments - New England Realty Associates Limited Partnership owns 31 properties, including 22 residential buildings and 4 commercial buildings, totaling 2,943 apartment units and approximately 130,000 square feet of commercial space[30] - The Partnership has a 40-50% interest in 7 additional residential and mixed-use properties, consisting of 688 apartment units and 12,500 square feet of commercial space[30] - The Partnership acquired a commercial retail property for approximately $10,151,000 on January 18, 2023, and a mixed-use property for approximately $27,500,000 on July 14, 2023[61][62] - The Partnership is constructing a 72-unit apartment building with total expected construction costs of approximately $30,000,000, anticipated to be completed in Q4 2025[63] - The Partnership has invested approximately $15,925,000 for a 40% interest in Hamilton Park Towers, a 409-unit residential complex, with a total purchase price of $129,500,000[115] - The Partnership invested $2,352,000 for a 50% ownership interest in a 176-unit apartment complex in Quincy, Massachusetts, with a purchase price of $23,750,000[119] Expenses and Costs - Operating expenses increased to approximately $14,141,000 for the three months ended March 31, 2024, up approximately $901,000 (6.8%) from $13,240,000 in 2023[187] - Advertising expenses increased to approximately $152,000 for the three months ended March 31, 2024, from approximately $109,000 in the same period in 2023, reflecting a year-over-year increase of about 39.5%[54] - The increase in renting expenses was approximately $196,000 (102.3%) due to tenant concessions related to construction disruptions[187] - The Partnership's total reimbursement to the Management Company for payroll and related expenses was approximately $1,100,000 for Q1 2024[68] Tenant and Rental Information - Approximately 94% of rental income for Q1 2024 was derived from residential apartments and condominium units, with 6% from commercial properties[93] - The minimum future rental income from commercial leases is projected to be $22,469,633, with significant contributions from Trader Joe's and Walgreen's, accounting for approximately 16% of total commercial rental income[93] - The vacancy rate for residential units decreased to 1.2% as of May 1, 2024, down from 2.1% a year earlier[182] - Average rent increases for renewals were 5.8% and for new leases were 5.4% during the first quarter of 2024, with expectations of continued rent growth for the remainder of the year[143] Distributions and Shareholder Returns - The Partnership approved a quarterly distribution of $12.00 per Unit and a special distribution of $48.00 per Class A unit, both payable on March 28, 2024[87] - The Partnership repurchased 2,858 Depositary Receipts at an average price of $70.69 per receipt during the three months ended March 31, 2024, totaling approximately $203,000[91] - From 2007 to March 31, 2024, the Partnership repurchased a total of 1,535,092 Depositary Receipts, with 2,858 purchased in the first quarter of 2024[149] Management and Governance - The Partnership's management has concluded that its disclosure controls and procedures were effective as of the end of the reporting period[210] - The Partnership has no legal obligation to fund operating deficits of its joint ventures, although it intends to fund its share of future operating deficits if necessary[32]

ALLSTON, Mass., May 9, 2024 /PRNewswire/ -- On June 28, 2024, New England Realty Associates Limited Partnership (NYSE MKT: NEN) will make its quarterly distribution to its Class A Limited Partners and holders of Depositary Receipts of record as of June 14, 2024.  The quarterly distribution per Class A Limited Partnership Unit will be $12.00 per Unit.  The quarterly distribution per Depositary Receipt will be $0.40.  Each Depositary Receipt represents a beneficial ownership of one-thirtieth of a Class A Part ...

Ownership and Investments - As of February 1, 2024, the Partnership owned a 40-50% interest in 7 residential and mixed-use complexes, totaling 688 residential units and one commercial unit[19]. - The Partnership purchased a 52-unit mixed-use property for approximately $27,500,000 on July 14, 2023, funded from cash reserves[31]. - The Partnership plans to develop a 72-unit apartment complex at Mill Street Development, allocating approximately $10,067,000 for this project in 2024[32]. - In 2023, the Partnership completed property improvements at a total cost of approximately $9,289,000, with plans to invest approximately $22,284,000 in capital improvements in 2024[32]. Financial Performance and Distributions - In March 2024, the Partnership approved a quarterly distribution of $12.00 per Unit, with a special distribution of $48.00 per Class A unit, totaling $9,954,888 in distributions for 2023[22]. - The Partnership repurchased 1,532,234 Depositary Receipts at an average price of $31.72 per receipt, totaling approximately $54,421,000 since the program's inception[23]. Debt and Financing - The Partnership entered into a Master Credit Facility Agreement with KeyBank for an initial advance of $156,000,000 at a fixed interest rate of 2.97%[24]. - The Partnership's line of credit was modified to extend until October 29, 2024, with a commitment amount of $25 million, restricted to $17 million during the modification period[35]. - The Partnership's debt yield fell below the minimum requirement to 8.6% as of December 31, 2023, restricting access to the line of credit until compliance is met[35]. - As of December 31, 2023, the Partnership has approximately $577,822,000 in long-term debt, with most requiring fixed interest payments[222]. - The Partnership has variable rate debt totaling $10,000,000, with rates ranging from SOFR plus 170 to SOFR plus 310 basis points[222]. - A 100 basis point change in market interest rates would result in an annual interest cost change of approximately $50,000 for the variable rate debt[222]. - The fair value of the Partnership's fixed rate debt would change by approximately $25,644,000 with a 100 basis point change in market interest rates[222]. - The long-term debt matures through 2035, indicating a long-term financial commitment[222]. Market and Competitive Environment - The Partnership's leasing of real estate in the Boston area is highly competitive, impacting tenant acquisition and rental rates[19]. - The company relies heavily on rental income from multifamily apartment complexes and commercial properties, which could adversely affect financial conditions if tenant attraction and retention fail[44]. - The company is subject to competition from various rental alternatives, which may impact its ability to attract tenants and maintain rental rates[46]. - Properties are concentrated in Eastern Massachusetts and Southern New Hampshire, linking performance to local economic conditions and rental market dynamics[47]. Regulatory and Risk Factors - The company faces significant cybersecurity risks, with potential legal claims and increased insurance premiums if data breaches occur, despite ongoing investments in security measures[45]. - Recent proposals in Boston could limit future rent increases to the lower of 10% or the Consumer Price Index plus six percentage points, adversely affecting revenue from residential properties[70]. - New energy performance standards in Boston may increase utility and administrative costs, impacting financial conditions and cash flows[71]. - The company is exposed to market risks, particularly interest rate risk, which could affect the spread between yield on invested assets and cost of funds[221]. - Compliance with various laws and regulations may incur significant costs, potentially affecting cash flow and distributions to shareholders[56]. - Debt financing poses risks, as the majority of assets are encumbered by non-recourse mortgage debt, potentially leading to cash flow issues for required payments[49]. - The company’s ability to sell properties and execute its strategic plan is crucial for debt reduction and financial performance[55].

Financial Performance - Net income for the nine months ended September 30, 2023, was $6,154,568, compared to $1,580,625 for the same period in 2022, representing a 289.5% increase[21]. - Comprehensive income for Q3 2023 was $2,438,458, compared to $995,224 in Q3 2022, reflecting a 144.5% increase[21]. - Net income for the three months ended September 30, 2023, was approximately $2,175,000, an increase of approximately $1,180,000 (118.6%) compared to the same period in 2022[196]. - Net income for the nine months ended September 30, 2023, was approximately $6,154,000, an increase of approximately $4,574,000 (289.4%) compared to the same period in 2022[208]. - The Partnership's share of net income from Investment Properties for the nine months ended September 30, 2023, was approximately $496,000, an increase of approximately $292,000 (143.3%) compared to the same period in 2022[204]. Revenue and Income Sources - Rental income for Q3 2023 was $18,804,320, an increase of 10.8% from $16,974,515 in Q3 2022[17]. - For the nine months ended September 30, 2023, total revenues reached $18.874 million, primarily driven by rental income of $12.088 million[133]. - Rental income for the nine months ended September 30, 2023, was approximately $54,338,000, an increase of approximately $4,078,000 (8.1%) compared to the same period in 2022[199]. - Approximately 94% of rental income during the nine months ended September 30, 2023, was derived from residential properties, with the remaining 6% from commercial properties, which have a minimum future annual rental income of $21,297,432[95]. Assets and Liabilities - Total assets decreased to $386,158,244 as of September 30, 2023, from $391,820,280 at the end of 2022, a decline of 1.7%[15]. - Total liabilities remained relatively stable at $450,810,428, compared to $451,689,637 at the end of 2022[15]. - The Partnership's total liabilities as of September 30, 2023, amounted to $575,253,819, with a fair value of $492,640,130[105]. - Total fixed assets as of September 30, 2023 amounted to $443,479,786, with accumulated depreciation of $171,180,209, resulting in a net value of $272,299,577[61]. Cash Flow and Investments - Cash flows from operating activities for the nine months ended September 30, 2023, were $16,300,141, up from $13,033,520 in the same period of 2022[26]. - The company invested $37,518,172 in rental property purchases during the nine months ended September 30, 2023[26]. - The Partnership has built cash reserves of $85,407,000, currently invested in short-term US Treasury bills with interest rates between 4.8% and 5.4%[147]. - The Partnership purchased a mixed-use property in Boston for $27,500,000 using cash reserves, indicating ongoing market expansion efforts[149]. Expenses - Operating expenses for the nine months ended September 30, 2023, were approximately $40,665,000, an increase of approximately $3,023,000 (8.0%) compared to the same period in 2022[200]. - Interest expense for the nine months ended September 30, 2023, was $5.363 million, impacting net income negatively[133]. - Administrative expenses for the nine months ended September 30, 2023, totaled $297,486, reflecting operational costs[133]. Market and Occupancy - The vacancy rate for residential properties as of November 1, 2023, was 0.9%, down from 1.8% a year earlier, indicating improved occupancy rates[150]. - Residential rental income accounted for 94% of total rents in both 2023 and 2022, while commercial rental income accounted for 6% in both years[185]. - Tenant renewals were approximately 72% with an average rental increase of approximately 6.4%, while new leases accounted for approximately 28% with rental rate increases of approximately 9.5% during the nine months ended September 30, 2023[160]. Stock and Distributions - Stock buybacks totaled $2,657,477 in the nine months ended September 30, 2023, compared to $5,167,667 in the same period of 2022[26]. - The Partnership approved a quarterly distribution of $12.00 per Unit ($0.40 per Receipt) for both May and August 2023, with a special distribution of $38.40 per Class A unit ($1.28 per Receipt) in January 2023[88]. - As of September 30, 2023, the Partnership had repurchased a total of 1,517,690 Depositary Receipts at an average price of $30.96 per receipt, totaling approximately $53,153,000[91].

Table of Contents 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 June 30, 2023 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 001-31568 New England Realty Associates Limited Partnership (Exact name of registrant as specified in its charter) ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Exact name of registrant as specified in its charter) | Massachusetts | 04-2619298 | | --- | --- | | (State or other jurisdiction of | (I.R.S. employer | incorporation or organization) identification no.) (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF T ...

Ownership and Investments - As of February 1, 2023, the Partnership owned a 40-50% interest in 7 residential and mixed-use complexes, totaling 688 residential units and one commercial unit[17]. - The Partnership plans to invest approximately $12,500,000 in capital improvements in 2023, following $5,981,000 spent on improvements in 2022[26]. - The Partnership's Advisory Committee reviews the progress of the Partnership and approves certain investments and acquisitions[32]. Financial Distributions - In March 2023, the Partnership approved a quarterly distribution of $9.60 per Unit, along with a special distribution of $38.40 per Class A unit, totaling $9,267,981 in distributions for 2022[18]. Debt and Financing - As of December 31, 2022, the Partnership had approximately $580,739,000 in long-term debt, with variable rate debt of $10,000,000[234]. - The Partnership entered into a Master Credit Facility Agreement with KeyBank for an initial advance of $156,000,000 at a fixed interest rate of 2.97%[20]. - The line of credit agreement was modified to extend the commitment amount to $25 million, with restrictions during the modification period[28]. - If market interest rates on the Partnership's variable rate debt increased or decreased by 100 basis points, the annual interest cost would change by approximately $50,000[234]. Shareholder Transparency - The Partnership has repurchased 1,488,460 Depositary Receipts at an average price of $30.14 per receipt, totaling approximately $50,495,000 including brokerage fees[19]. - The Partnership's website provides access to its annual and quarterly reports, ensuring transparency for shareholders[33].