Core Viewpoint - Orogen Royalties Inc. has authorized a significant grant of share-based compensation as part of its annual program, reflecting the company's commitment to incentivizing its directors, officers, employees, and consultants [1] Summary by Category Share-Based Compensation - The Board of Directors has authorized the grant of 132,000 Restricted Share Units (RSUs), 29,000 Deferred Share Units (DSUs), and 618,000 incentive Stock Options [1] Compensation Plan - The grant is part of the Company's Omnibus Equity Incentive Compensation Plan, which was approved by shareholders on June 27, 2025 [1]

These gains partially offset headwinds, including the continued impact of the loss of exclusivity (LOE) for Atozet and challenges that emerged during the year. Morrissey highlighted policy-related changes in the U.S. affecting Nexplanon access and a revision to medical guidelines in certain international markets that deprioritized montelukast, impacting SINGULAIR.Biosimilars , driven primarily by HADLIMA and additional contributions from a denosumab biosimilar launch and TOFIDENCE, which Organon acquired in ...

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If you are interested in keeping up to date with stocks making moves within the biotech, pharma and healthcare industries, and understanding the key trends and catalysts driving valuations ahead of the market, why not subscribe to my weekly newsletter via my Investing Group, Haggerston BioHealth ?Organon ( OGN ), the New Jersey-headquartered global healthcare company, reported its Q4 and full-year 2025 earnings earlier today, and somewhat predictably, results appear to have disappointed the market. The stoc ...

Core Insights - d'Amico International Shipping S.A. is focusing on capital allocation, fleet renewal, and earnings visibility amidst strengthening product tanker markets and geopolitical disruptions [1] Financial Foundation - The company operates a fleet of 29 product tankers, primarily MR2s, with an average vessel age of 9.6 years; 27 of these vessels are owned [2] - As of September 2025, the net financial position to fleet market value ratio was approximately 7% [2] - d'Amico reported net profits of $63 million for the first nine months of 2025, with average daily spot earnings rising from $21,150 in Q1 to $25,500 in Q3 [2] Fleet Renewal Strategy - The fleet renewal program includes orders for four LR1s in 2024, two MR1s in late 2025, and two MR2s in early 2026, totaling an investment of nearly $419 million, with $374 million still payable [3] - New MR2s are expected to achieve about 17% fuel savings compared to existing vessels, while new MR1s are projected to save around 20% [3] - Eco vessels command a daily premium of $1,500-$2,000 over conventional ships, with super Eco newbuilds attracting an additional $1,000 premium [3] Shareholder Returns - The company aims for a 40% payout ratio from 2024 results, expected to be confirmed for 2025 [4] Earnings Visibility - 42% of available days in 2026 are covered at an average rate of $23,300 per day, with 16% of 2027 covered at $22,200 per day; management anticipates increasing 2026 coverage to around 50% in the coming months [5] Geopolitical Impact - Recent sanctions on Russia have created obstacles for exports, leading to increased oil on water due to inefficient practices like ship-to-ship transfers [6] - A potential peace agreement between Ukraine and Russia may not lead to immediate sanction removals, and normalization of Russian trade flows could accelerate the scrapping of older vessels, aiding market rebalancing [7]

I began learning about markets and investing when I was 19 years old. My investing is informed by macro insights, fundamentals, and technical indicators. I have mostly written about ETFs, REITs, and Banks on Seeking Alpha. Currently, I am mostly interested in micro/small-cap stock opportunities and I expect to share many related ideas this year.When I'm neither working on my next article nor hunting for opportunities, I either run, swim, or lift weights.Analyst’s Disclosure: I/we have a beneficial long posi ...

Organon (OGN) came out with quarterly earnings of $0.63 per share, missing the Zacks Consensus Estimate of $0.73 per share. This compares to earnings of $0.9 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -13.46%. A quarter ago, it was expected that this pharmaceutical company would post earnings of $0.93 per share when it actually produced earnings of $1.01, delivering a surprise of +8.6%.Over the last four quarters, the com ...

Financial Data and Key Metrics Changes - In 2025, Organon reported $6.2 billion in revenue and $1.9 billion of adjusted EBITDA, representing a 3% decline on both a reported and ex-FX basis [6][9] - Adjusted gross margin for Q4 2025 was 56.7%, down from 60.6% in Q4 2024, primarily due to pricing pressure and unfavorable product mix [22] - Net loss for Q4 2025 was $205 million, or $0.79 per diluted share, compared to net income of $109 million, or $0.42 per diluted share in Q4 2024 [23][24] Business Line Data and Key Metrics Changes - Women's health revenue decreased 16% ex-FX in Q4 and 2% for the year, with Nexplanon sales down 20% ex-FX in Q4 and 4% for the full year [11][12] - The fertility business declined 6% ex-FX in Q4 2025 but grew 8% for the full year, driven by performance in the U.S. [14] - Biosimilars revenue was driven by Hadlima, which grew 61% ex-FX globally for the full year, reflecting strong clinical performance and pricing strategy [16] Market Data and Key Metrics Changes - Nexplanon faced challenges due to government policy-related access restrictions impacting its market share in the U.S. [12] - The JADA System generated $74 million in revenue in 2025, with its divestiture expected to impact consolidated revenue in 2026 [15] - The company anticipates strong growth in Latin America for Nexplanon, offsetting U.S. declines [14] Company Strategy and Development Direction - Organon plans to lower its dividend payout ratio to focus on debt reduction and improve its balance sheet capacity for future growth opportunities [7][8] - The company is committed to managing operating expenses and capital deployment in a disciplined manner to achieve progress on deleveraging efforts [32] - Future launches include a Pertuzumab biosimilar in the U.K. in 2027 and in the U.S. in 2028, indicating a strategic focus on expanding its biosimilars portfolio [16] Management's Comments on Operating Environment and Future Outlook - Management expects revenue and adjusted EBITDA in 2026 to be in line with 2025, projecting approximately $6.2 billion in revenue and $1.9 billion in adjusted EBITDA [9][10] - The company anticipates a modest FX tailwind to offset the loss of revenue from the JADA System divestiture [29] - Management expressed confidence in maintaining performance that aligns with the previous year while managing operating expenses effectively [32] Other Important Information - The company achieved over $200 million in cost savings in 2025, which helped offset investments in growth drivers like VTAMA [8] - Non-GAAP adjusted net income for full year 2025 was $954 million, or $3.66 per share, down from $1,065 million, or $4.11 per share in 2024 [24] Q&A Session Summary Question: Concerns about channel behavior issues and audit committee investigation scope - Management stated they cannot provide additional details at this time [36] Question: Status of FDA draft guidance on biosimilars and its impact - Management views the guidance as incremental and believes their strategy for biosimilars is appropriate [40] Question: Nexplanon contribution to 2026 sales guidance - Nexplanon is expected to be roughly flat year-on-year, with growth anticipated in ex-U.S. markets [41][42] Question: Operating expense savings and underlying EBITDA performance - Management confirmed that some savings will be redirected to revenue growth opportunities while continuing to manage operating expenses aggressively [46] Question: Update on CEO search - No public update was provided regarding the search for a permanent CEO [62] Question: Strategy for Denosumab biosimilar in the osteoporosis market - Management indicated that the market will be competitive, and peak revenues for the Denosumab product are estimated at around $100 million over five years [63]

Financial Data and Key Metrics Changes - In 2025, Organon reported $6.2 billion in revenue and $1.9 billion of adjusted EBITDA, representing a 3% decline on both a reported and ex-FX basis [6] - Adjusted gross margin for Q4 2025 was 56.7%, down from 60.6% in Q4 2024, primarily due to pricing pressure and unfavorable product mix [22] - Net loss for Q4 2025 was $205 million, or $0.79 per diluted share, compared to net income of $109 million, or $0.42 per diluted share in Q4 2024 [23] Business Line Data and Key Metrics Changes - Women's health revenue decreased 16% ex-FX in Q4 and 2% for the year, with Nexplanon sales down 20% ex-FX in Q4 and 4% for the full year [11] - The fertility business declined 6% ex-FX in Q4 2025 but grew 8% ex-FX for the full year, driven by performance in the U.S. [14] - Biosimilars revenue was driven by HADLIMA, which grew 61% ex-FX globally for the full year [16] Market Data and Key Metrics Changes - Nexplanon faced challenges due to government policy-related access restrictions impacting its market share in the U.S. [12] - The JADA System generated $74 million in revenue in 2025 before its divestiture, which will impact consolidated revenue in 2026 [15] - The company expects strong growth in Latin America for Nexplanon, offsetting U.S. declines [14] Company Strategy and Development Direction - Organon decided to lower its dividend payout ratio to focus on debt reduction and improve its balance sheet capacity for future growth opportunities [7] - The company is scrutinizing spending and has discontinued early-stage clinical programs to focus on products already in the market [9] - For 2026, Organon expects to maintain revenue and adjusted EBITDA in line with 2025, targeting approximately $6.2 billion in revenue and $1.9 billion in adjusted EBITDA [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving 2026 targets despite anticipated gross margin deterioration and ongoing operational challenges [10] - The company is committed to managing operating expenses and capital deployment to support deleveraging efforts [32] - Management highlighted the importance of maintaining performance aligned with the previous year while navigating a competitive landscape [32] Other Important Information - The company divested the JADA System, resulting in approximately $390 million in net proceeds to reduce net debt in 2026 [8] - Organon expects to achieve net leverage below 4x by the end of 2026, supported by debt repayments and revenue from the JADA divestiture [27] Q&A Session Summary Question: Concerns about channel behavior issues and audit committee investigation scope - Management could not provide additional details regarding the audit committee's findings beyond what was previously disclosed [36] Question: Status of FDA draft guidance on biosimilars and its impact - Management views the FDA guidance as incremental and believes their current biosimilar strategy is appropriate for future growth [40] Question: Nexplanon contribution to 2026 sales guidance - Nexplanon is expected to be roughly flat year-on-year, with growth anticipated outside the U.S. but a dip in the U.S. due to the transition to a five-year label [41] Question: Operating costs and margins outlook - Management emphasized the need to streamline operations while ensuring that cost reductions do not hinder revenue growth opportunities [51] Question: Pressure on established brands and competitive dynamics for Vtama - Management expects established brands to stabilize but acknowledges potential challenges, particularly in the respiratory segment [58]

Financial Data and Key Metrics Changes - In 2025, Organon reported $6.2 billion in revenue, a decrease of 3% on both a reported and ex-FX basis [5] - Adjusted EBITDA for 2025 was $1.9 billion, with adjusted EBITDA margins remaining flat compared to 2024 despite a 150 basis points decline in gross margin [8][10] - The net loss for Q4 2025 was $205 million, or $0.79 per diluted share, compared to a net income of $109 million, or $0.42 per diluted share in Q4 2024 [23][24] Business Line Data and Key Metrics Changes - Women's health revenue decreased by 16% ex-FX in Q4 and 2% for the full year, with Nexplanon sales down 20% ex-FX in Q4 and 4% for the year [11] - The fertility business declined 6% ex-FX in Q4 but grew 8% for the full year, driven by performance in the U.S. [13] - Biosimilars revenue was driven by Hadlima, which grew 61% ex-FX globally for the full year [15] Market Data and Key Metrics Changes - The U.S. market faced headwinds due to government policy-related access restrictions impacting Nexplanon sales [12] - Internationally, particularly in Latin America, there was improved access contributing to growth in Nexplanon [43] - The divestiture of the JADA System resulted in approximately $390 million in net proceeds, impacting consolidated revenue in 2026 [8][9] Company Strategy and Development Direction - The company decided to lower its dividend payout ratio to focus on debt reduction and improve its balance sheet capacity for future growth opportunities [7] - Organon is committed to managing operating expenses and capital deployment in a disciplined manner to achieve progress on deleveraging efforts [33] - The company expects to maintain revenue and adjusted EBITDA in 2026 at levels similar to 2025, with a focus on cost savings and operational efficiency [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in delivering results in 2026, despite anticipated challenges in gross margin and operating expenses [10] - The company expects a flat revenue outlook for Nexplanon in 2026, with growth anticipated in international markets [42][43] - Management acknowledged the competitive environment in the U.S. for the fertility business and the potential headwinds from the transition to a five-year label for Nexplanon [13][54] Other Important Information - Organon achieved over $200 million in cost savings in 2025, which helped offset investments in growth drivers [8] - The company expects adjusted gross margin in 2026 to decline by 75-100 basis points compared to the prior year [29] - Free cash flow for 2025 was $960 million, consistent with the prior year, with expectations for similar performance in 2026 [25] Q&A Session Summary Question: Concerns about channel behavior issues and audit committee scope - Management could not provide additional details regarding the audit committee's findings [37] Question: Status of biosimilar policy and its impact on Organon's business - Management views the FDA's draft guidance as an incremental change and remains optimistic about growth opportunities in biosimilars [41] Question: Nexplanon's contribution to 2026 sales guidance - Nexplanon is expected to be roughly flat year-on-year, with growth anticipated in international markets [42][43] Question: Operating expense savings and underlying EBITDA performance - Management confirmed that some of the $275 million in savings would be redirected to revenue growth opportunities [47] Question: Update on the search for a permanent CEO - No public update was available regarding the CEO search [64] Question: Strategy for the Denosumab biosimilar - Management indicated that the peak revenues for the Denosumab product could reach around $100 million over five years [65]