Core Insights - Osisko Metals has announced significant new drill results from the Gaspé Copper Project, confirming the large-scale potential of mineralization in the area [2][3] - The company is actively expanding its drilling program, now utilizing nine drill rigs to accelerate resource definition and expansion [3] Drill Results - Drill hole 30-1090 intersected 279.0 metres averaging 0.49% Cu and 3.35 g/t Ag, with a notable second intercept of 108 metres averaging 0.84% Cu and 7.79 g/t Ag [8][9] - Other significant results include: - Drill hole 30-1078: 256.5 metres averaging 0.25% Cu and 1.79 g/t Ag, and 381.0 metres averaging 0.22% Cu and 1.69 g/t Ag [10] - Drill hole 30-1079: 319.5 metres averaging 0.28% Cu and 2.14 g/t Ag, and 180.0 metres averaging 0.37% Cu and 2.54 g/t Ag [11] - Drill hole 30-1081: 301.8 metres averaging 0.41% Cu and 3.36 g/t Ag, and 44.5 metres averaging 0.23% Cu and 1.32 g/t Ag [12] - Drill hole 30-1084: 471.4 metres averaging 0.25% Cu and 1.95 g/t Ag, followed by 55.4 metres averaging 0.33% Cu and 2.64 g/t Ag, and 89.7 metres averaging 0.29% Cu and 1.93 g/t Ag [13] - Drill hole 30-1080: 520.5 metres averaging 0.23% Cu and 1.02 g/t Ag, and 195.0 metres averaging 0.26% Cu and 1.28 g/t Ag [14] Project Overview - The Gaspé Copper Project is located in the Gaspé Peninsula of Eastern Québec and is focused on resource expansion [2][24] - The current Indicated Mineral Resources are 824 million tonnes averaging 0.34% CuEq, while Inferred Mineral Resources are 670 million tonnes averaging 0.38% CuEq [24] - The project is strategically located near existing infrastructure in a mining-friendly province [24] Future Plans - The ongoing drill program aims to convert the November 2024 Mineral Resource Estimate (MRE) to Measured and Indicated categories and to test for further expansion of the mineralization [17][19] - The next MRE update is scheduled for Q1 2026, which will include new mineralized intersections below the current MRE model [19]

Company Overview - Outset Medical, Inc. (NASDAQ: OM) is an innovator in dialysis delivery, focusing on an all-in-one mobile product that automates water treatment and dialysate mixing [1] Challenges - The company has faced difficulties with FDA regulation clearance and has experienced a decline in sales in the past [1]

Company Overview - Outset Medical, Inc. (OM) shares increased by 15% to close at $19.97, with trading volume significantly higher than usual, contrasting with a 3.2% loss over the past four weeks [1][2] Financial Performance - The company reported strong financial results for Q1 2025, driven by optimism regarding its expanding installed base and recurring revenue potential from the Tablo dialysis system [2] - Outset Medical is expected to report a quarterly loss of $1.76 per share, reflecting a year-over-year change of +75%, with revenues projected at $29.77 million, an increase of 8.7% from the previous year [3] Earnings Estimates and Stock Movement - The consensus EPS estimate for Outset Medical has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - The stock currently holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [4] Industry Context - Outset Medical is part of the Zacks Medical Info Systems industry, which includes other companies like Senseonics Holdings (SENS), which saw a 1.2% increase in its last trading session [4] - Senseonics has a consensus EPS estimate of -$0.02, representing a year-over-year change of +33.3%, and currently holds a Zacks Rank of 2 (Buy) [5]

Market Overview - The annual spending on U S ESRD (End-Stage Renal Disease) patients is $73 billion, with $41 billion paid by Medicare[13] - Dialysis for ESRD patients accounts for 7% of the entire Medicare budget, while comprising only 1% of the Medicare population[13] - There are 600,000 dialysis patients in the U S receiving 90 million annual dialysis treatments[15] - Outset estimates the U S TAM (Total Addressable Market) for Tablo at $11 4 billion, including $2 5 billion for the acute and post-acute market and $8 9 billion for the home market[35, 65] Tablo System Advantages - Tablo offers potential cost savings of 50% – 80% in dialysis treatment, with a potential payback period of less than 1 year[49] - Tablo reduces the cost of acute dialysis to approximately $300 per treatment[49] - Tablo requires less than 25 hours of training per patient, significantly less than historical devices that require 100 hours[72, 74] - Tablo eliminates dialysate prep time, unlike historical devices that require 16–24 hours of prep time per week[72, 74] Commercial Progress - Outset has trained >10,000 nurses and 1,000 physicians[59] - Outset has secured contracts with 10 of the 10 largest subacute providers and 8 of the 8 top national health systems[56, 58] - Outset has recurring revenue of >60%[85] Financial Position - Outset estimates a cash position of $210 million entering 2025[90] - Outset received $169 million in gross proceeds from a January 2025 equity financing[90]

Market Opportunity - The U S End-Stage Renal Disease (ESRD) market represents $73 billion in annual spending, with Medicare paying $41 billion[13] - Dialysis for ESRD patients accounts for 7% of the entire Medicare budget, while these patients comprise only 1% of the Medicare population[13] - The company estimates a $114 billion U S Total Addressable Market (TAM), including $25 billion for the acute and post-acute market and $89 billion for the home market[35, 38, 65] Tablo System Advantages - Tablo enables potential cost savings of 50% – 80% in acute dialysis, with a potential payback period of less than 1 year[49] - One customer projected net savings of $450,000 in the first year and estimated net savings of $550 per treatment using Tablo[52] - Tablo reduces dialysate preparation time to 0 hours, compared to 16–24 hours per week for historical devices in home care[72, 74] Commercial Traction - The company has trained >10,000 nurses and 1,000 physicians[59] - The company has secured contracts with 10 of the 10 largest subacute providers and 8 of the 8 top national health systems[56, 58] - The company has performed >1,000,000 treatments per year[11] Financial Position - The company estimates a cash position of $210 million entering 2025[90] - The company secured $169 million in gross proceeds from a January 2025 equity financing[90] - The company has recurring revenue of >60%, which is expected to grow over time[85]

Company Overview - Osisko Metals Incorporated is a Canadian exploration and development company focused on critical metals, particularly copper and zinc [3] - The company acquired a 100% interest in the Gaspé Copper mine from Glencore Canada Corporation in July 2023, which is located in Québec's Gaspé Peninsula [3] - The Gaspé Copper mine hosts the largest undeveloped copper resource in eastern North America, with current Indicated Mineral Resources of 824 million tonnes grading 0.34% CuEq and Inferred Mineral Resources of 670 million tonnes grading 0.38% CuEq [3] Recent Developments - Effective June 13, 2025, the company has continued its operations from British Columbia to Ontario, adopting new articles and by-laws approved by shareholders on May 29, 2025 [1][2] - The company is also advancing the Pine Point project, one of Canada's largest past-producing zinc mining camps, through a joint venture with Appian Capital Advisory LLP [4] - The Pine Point project has current Indicated Mineral Resources of 49.5 million tonnes at 5.52% ZnEq and Inferred Mineral Resources of 8.3 million tonnes at 5.64% ZnEq [4]

Core Viewpoint - Osisko Metals Incorporated announced new drilling results from the Gaspé Copper Project, indicating significant mineralization and potential resource expansion below the 2024 Mineral Resource Estimate (MRE) [1][3][11]. Drilling Results - Drill hole 30-1075 intersected 258.0 metres averaging 0.33% Cu and 2.95 g/t Ag, including 15.6 metres averaging 1.47% Cu and 8.5 g/t Ag, with a second intercept at depth of 96 metres averaging 0.54% Cu and 3.34 g/t Ag [3][4]. - Drill hole 30-1076 encountered 208.4 metres averaging 0.40% Cu and 2.61 g/t Ag, with significant intercepts at depth extending mineralization to 548 metres [3][4]. - Drill hole 30-1070 revealed 160.5 metres averaging 0.16% Cu and 1.92 g/t Ag, followed by a second intercept of 122.8 metres averaging 0.62% Cu and 4.86 g/t Ag, and a third intercept of 29.7 metres averaging 1.92% Cu and 15.2 g/t Ag at a depth of 629 metres [3][4]. - Drill hole 30-1074 showed 118.5 metres averaging 0.26% Cu and 1.92 g/t Ag, extending mineralization to a vertical depth of 797 metres [4]. Mineral Resource Estimate - The November 2024 MRE was limited to the base of the L1 skarn horizon (C Zone), with all mineralized intersections below this horizon representing potential depth extensions to be included in the next MRE update scheduled for Q1 2026 [7][11]. - Current Indicated Mineral Resources at the Gaspé Copper Project are 824 million tonnes averaging 0.34% CuEq, while Inferred Mineral Resources are 670 million tonnes averaging 0.38% CuEq [15]. Project Focus - The current drilling program aims to convert the November 2024 MRE to Measured and Indicated categories and to test the extension of the mineralization deeper and laterally towards Needle East and Needle Mountain [11][15].

Financial Data and Key Metrics Changes - The company has a total addressable market (TAM) of over $11 billion, focusing on the acute dialysis and home dialysis markets [6] - The balance sheet has been strengthened, and the commercial transformation is largely complete [8] - Gross margins improved to close to 40% in Q1, with a target to exceed 40% by the end of the year [58][60] Business Line Data and Key Metrics Changes - The company is focused on the front end (acute care) and back end (home) of the dialysis market, avoiding the cost-sensitive chronic care segment [12] - The technology developed allows hospitals to reduce dialysis service costs by 50% to 75% with a payback period typically within twelve months [16] - The utilization of the Tableau system has been modeled at five treatments per week, with some customers achieving 25 to 35 treatments per week [46] Market Data and Key Metrics Changes - The dialysis market is characterized by high patient burden and limited innovation, with reimbursement structures that are not favorable for hospitals [11] - The company aims to convert patients from peritoneal dialysis (PD) to home hemodialysis (HHD), seeing a significant opportunity in this transition [26] Company Strategy and Development Direction - The company is undergoing a commercial transformation focusing on people, process, and pipeline management to enhance sales effectiveness [29] - There is a renewed focus on technology and operational efficiency, with an emphasis on gross margin expansion and a path to profitability [56][63] - Future growth is expected to come from new recurring revenue streams, including software and EMR integration [67] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory, emphasizing the need for change in the dialysis market and the proprietary technology that supports this [75][76] - The outlook for the rest of the year remains unchanged and enthusiastic, with no adverse effects from capital spending trends observed [38] Other Important Information - The company has faced regulatory challenges with the FDA, but these issues are now behind them [8] - The new CFO highlighted the importance of technology and the company's commitment to top-line growth and gross margin improvement [55][56] Q&A Session Summary Question: What are the key changes in the commercial strategy? - The company has focused on enhancing its sales process to better coach hospitals on changing their service models, requiring a new sales team with expertise in enterprise-level sales [30][31] Question: How is the company measuring success in its commercial transformation? - Success is evaluated through pipeline growth and conversion rates, with consistent performance across territories and contributions from all sales representatives [34][35] Question: What is the outlook for gross margins? - The company aims for gross margins to exceed 40% and has identified key levers such as recurring revenue and service leverage to achieve this [60][63] Question: How does pricing factor into the gross margin strategy? - While pricing is not a primary lever for reaching the 50% gross margin target, the company is evaluating pricing opportunities to align with the value provided [64][66]

Company Overview - Outset Medical, Inc. is a medical technology company focused on pioneering technology to reduce the cost and complexity of dialysis [3] - The Tablo® Hemodialysis System is FDA cleared for use from the hospital to the home, representing a significant technological advancement in dialysis [3] - Tablo serves as a single enterprise solution that can be utilized across the continuum of care, allowing dialysis to be delivered anytime, anywhere, and by anyone [3] Product Features - The integration of water purification and on-demand dialysate production enables Tablo to function as a "dialysis clinic on wheels" [3] - Tablo features 2-way wireless data transmission and a proprietary data analytics platform, promoting a holistic approach to dialysis care [3] Upcoming Events - Management will present at the Goldman Sachs 46th Annual Healthcare Conference on June 11, 2025, at 11:20 a.m. Eastern time [1] - A live and archived webcast of the presentation will be available on the "Investors" section of the Outset website [2]

Core Viewpoint - Outset Medical, Inc. has appointed Renee Gaeta as the new Chief Financial Officer, effective immediately, as the company aims to drive growth and achieve near-term profitability [1][2]. Company Overview - Outset Medical is a medical technology company focused on reducing the cost and complexity of dialysis through its innovative Tablo® Hemodialysis System, which is FDA cleared for use in various settings [4]. - The Tablo system integrates water purification and on-demand dialysate production, allowing for flexible dialysis delivery and operational simplification for providers [4]. Leadership Appointment - Renee Gaeta brings extensive financial and leadership experience from her previous roles as CFO at Shockwave Medical and Eko Health, among others [2][3]. - Gaeta's appointment is seen as a strategic move to support Outset's next phase of growth and profitability goals [2]. Financial Guidance - Outset has reiterated its financial guidance for 2025, projecting revenues between $115 million and $125 million, with a non-GAAP gross margin expected to be in the high-30% range [2].