Core Insights - CVS Health has completed the acquisition of 63 Rite Aid stores in Idaho, Oregon, and Washington, along with prescription files across 15 states, serving over 9 million customers [2][3] - The acquisition follows Rite Aid's bankruptcy filing earlier this year, marking its second bankruptcy in less than two years [3] - By acquiring prescription files, CVS and other pharmacy chains avoided taking on additional debt from physical store locations during the bankruptcy proceedings [4] Company Operations - CVS is now operating 63 former Rite Aid and Bartell Drugs locations and has acquired prescription files from 626 former Rite Aid and Bartell Drugs pharmacies across 15 states [5] - The company has hired over 3,500 former Rite Aid and Bartell Drug employees as part of the acquisition and store conversions [5] Strategic Goals - CVS Health aims to expand access to pharmacy care and grow its retail footprint in local communities through this acquisition [6] - The company plans to leverage its innovative pharmacy care programs and exclusive store brand products to enhance customer experience for former Rite Aid and Bartell Drugs patients [6]

US pharmacy chain Rite Aid closes final stores https://t.co/iPMCe6W6yY ...

Core Points - Rite Aid has officially closed all its stores following its Chapter 11 bankruptcy filing, marking its second bankruptcy since October 2023 [1][7] - The company faced significant financial challenges exacerbated by changes in the retail and healthcare sectors, with a reported loss of $750 million in the previous fiscal year [2][7] - Rite Aid's website now only provides a service for former customers to find new pharmacies and request pharmacy records [3] Bankruptcy and Store Closures - Rite Aid filed for Chapter 11 bankruptcy in May 2023 and announced the closure of all its stores as part of its bankruptcy plan [1][4] - At its peak, Rite Aid operated thousands of stores, but by May 2023, it had reduced to 1,240 locations across 15 states [6] Transition of Services - The company entered into agreements to transition its pharmacy services and assets to other pharmacy chains, including CVS Pharmacy and Walgreens, ensuring a smooth transfer of customer prescriptions [4] - CEO Matt Schroeder emphasized the importance of maintaining uninterrupted pharmacy services for customers and preserving jobs for associates during the transition [2][4] Asset Sales - Rite Aid auctioned its in-house ice cream brand, Thirty Ice Cream, to Hilrod Holdings for $19.2 million, with the transaction approved by a federal judge [5] - The company had previously owned Thrifty PayLess, Inc., which was part of the assets sold during the bankruptcy process [5] Debt Situation - After emerging from bankruptcy in 2024, Rite Aid was reported to still have $2.5 billion in debt [8]

Core Insights - The company has received a positive recommendation from the Data Safety and Monitoring Committee (DSMC) to advance its clinical-stage radiotherapeutic asset, 177Lu-RAD202 (RAD202), to the next dose level of 75mCi in the Phase 1 'HEAT' clinical trial for patients with HER2-positive advanced solid tumors [1][2]. Group 1: Clinical Trial Progress - The Phase 1 'HEAT' trial is progressing rapidly, with initial dosing starting in June and the first cohort completed swiftly [2]. - The DSMC confirmed positive safety, pharmacokinetic, and biodistribution data from the first cohort treated with 30mCi of Lu177-RAD202, allowing the study to continue without modifications [2]. - The second cohort of patients is expected to be enrolled by Q4 2025 [2]. Group 2: Product Information - RAD202 is a proprietary single domain monoclonal antibody targeting HER2-positive expression in advanced solid tumors, which are prevalent in breast cancer and other solid tumors [4]. - Previous diagnostic studies have shown RAD202's clinical proof-of-concept, along with positive safety and biodistribution results [4]. Group 3: Company Overview - Radiopharm Theranostics is a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for high unmet medical needs [5]. - The company is listed on ASX (RAD) and NASDAQ (RADX) and has a pipeline that includes one Phase 2 and three Phase 1 trials across various solid tumor cancers [5].

Financial Data and Key Metrics Changes - The company reported an underlying EBITDA of $20 million for FY '25, with operating cash flow also at $20 million and reduced debt levels to $67.7 million [23][34] - The total FY '25 dividend was $1.45 per share, representing a gross fully imputed dividend of $2.01 per share, which is 47% of AFFO, aligning with the target payout ratio of 40% to 70% [21][34] Business Line Data and Key Metrics Changes - Radius Care operates 24 aged care homes and four retirement villages, focusing on high acuity aged residential care and health services [12][13] - The company acquired the 109-bed St. Elisa care home in Christchurch for just under $1.1 million, expected to contribute to earnings from the second half of FY '26 [14][15] - CBIZ Catering Limited, acquired in October 2024, contributed $4.1 million in revenue and $500,000 in EBITDA for the period from October 2024 to March 2025 [15][16] Market Data and Key Metrics Changes - Occupancy rates are currently over 95%, with the latest figure at 95.8% [13][32] - The company has expanded into in-home care services, addressing the needs of New Zealand's aging population [17] Company Strategy and Development Direction - The company is in growth mode, focusing on capital light acquisitions, revenue diversification, and extending home opportunities [14][20] - The updated capital management framework aims to support reinvestment in core operating assets while maintaining sustainable dividend growth [20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for growth across key financial metrics in FY '26, including underlying EBITDA and AFFO [21][35] - The company anticipates strong trading performance, with an upgraded guidance for underlying EBITDA in the first half of FY '26 to be between $14 million and $16 million [33] Other Important Information - The company has a strong focus on staff training and well-being, with a Net Promoter Score of 74 for facility managers, indicating high employee engagement [26][28] - The company has developed RadPro, an operational template that supports resident-centric decision-making and continuous improvement [18][39] Q&A Session Summary Question: Can you provide more details on RadPro and its development? - RadPro is the operating system developed over 21 years, encompassing all aspects of operations, including staff education and efficiency tools. It is now being expanded into home care services and has potential for marketing outside New Zealand [38][40]

Financial Performance & Growth - The company reported a 39% profit growth [30] - Underlying EBITDA for 1H26 is projected to be $14 million to $16 million [30, 56] - Underlying EBITDA increased by 20% to $23.5 million from $19.5 million [43] - Underlying EBITDAR Per Care Bed increased by 13% to $27.9K from $24.7K [45] - Total FY25 cash dividend was 1.45cps, compared to 0.70cps in FY24 [45] Expansion & Acquisitions - Acquired St Allisa, a 109-bed care home, through a leaseback arrangement [24, 27, 30] - Acquired 51% of Cibus Catering Limited, resulting in a $4.1 million revenue uplift [30] - Pursuing capital-light expansion focused on new-build 100-bed care homes leased from private investors [28] Operational Efficiency & Staffing - Company-wide staff turnover decreased by 30% year-on-year, reaching a record low [48] - 86% of care homes audited in FY25 received 4-Year Certification [49] - Average occupancy is trending upwards, reaching approximately 95% [50] - The company acquired 920,000 shares for $280,000, with an average buyback price of 30.4cps [39, 40]

Core Insights - Radiopharm Theranostics is advancing its clinical pipeline with significant milestones, including FDA Fast Track Designation for RAD101 and clearance for higher dosing of RAD204 [3][5][6] - The company confirmed a cash runway extending through mid-2026, with a year-end cash balance of $29.12 million, up from $18.58 million the previous year [10][12] Program and Business Updates - RAD204, a nanobody targeting PD-L1, is on track for higher dosing at 60mCi of Lu177, with enrollment for the second cohort expected to complete soon [6] - RAD202, targeting HER2, has initiated its Phase 1 HEAT trial, with preliminary data anticipated by the end of 2025 [6] - The company has established supply agreements for key radioisotopes, enhancing its clinical trial capabilities [3][12] Financial Update - For the fiscal year ending June 30, 2025, net cash outflows from operating activities totaled $36.67 million, primarily due to research and development expenditures [10][12] - The company received $4.58 million for research and development tax incentives for the 2024 financial year [12]

Core Insights - The FDA has granted clearance for Radiopharm Theranostics to initiate a first-in-human Phase 1 clinical trial of RV-01, a Lu177-B7H3 monoclonal antibody targeting the 4Ig isoform of B7-H3, which is overexpressed in tumors [1][2] - RV-01 is expected to provide a novel treatment option for patients with aggressive solid tumors, with the first patient dosing anticipated later in 2025 [2][5] Company Overview - Radiopharm Theranostics is a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for high unmet medical needs, listed on ASX (RAD) and NASDAQ (RADX) [6] - The company has a diverse pipeline that includes distinct technologies such as peptides, small molecules, and monoclonal antibodies, with ongoing clinical trials for various solid tumors [6] Product Details - RV-01 is the first radiopharmaceutical therapeutic agent developed through a joint venture with MD Anderson Cancer Center, demonstrating tumor shrinkage and prolonged survival in preclinical studies [5] - The unique hepatic clearance of RV-01 may minimize adverse effects compared to other radiotherapeutics, which often have renal excretion pathways associated with higher toxicity risks [2][3] Scientific Significance - B7-H3 is an immune checkpoint molecule linked to tumor aggressiveness and poor clinical outcomes, making it a compelling target for antibody-based cancer immunotherapy [4] - The high affinity of RV-01 for the 4Ig isoform allows for enhanced targeting of tumors while avoiding immune complex formation in circulation [3][4]

Core Viewpoint - Rite Aid is closing an additional 114 stores as part of its second bankruptcy proceedings in less than two years, driven by mounting debt, sluggish sales, and competition in the pharmacy industry [1][3][4]. Group 1: Bankruptcy and Store Closures - Rite Aid filed for Chapter 11 bankruptcy protection in May 2023, just eight months after exiting its first bankruptcy [2][4]. - The bankruptcy court in New Jersey approved the closure of 114 stores, with the majority located in Pennsylvania [1][2][7]. - The company has already closed 154 stores as part of its store optimization plan, reducing its footprint to approximately 1,245 locations [3][4]. Group 2: Financial Challenges - Rite Aid emerged from its first bankruptcy with $2.5 billion in liabilities, indicating ongoing financial struggles [4]. - The company has faced increased competition from other pharmacy chains such as Walgreens, CVS, Walmart, and Amazon, which has contributed to its financial difficulties [4][6]. Group 3: Industry Context - Industry experts anticipate further closures across the pharmacy sector as companies adjust to market demands and rightsize their operations [6]. - The rapid expansion of pharmacy locations has outpaced the actual need for pharmacies, leading to financial strain on companies like Rite Aid [6].

Core Insights - Radiopharm Theranostics has appointed Dr. Oliver Sartor to its Scientific Advisory Board, enhancing its expertise in oncology radiopharmaceuticals [1][5]. Company Overview - Radiopharm Theranostics is a clinical-stage biopharmaceutical company focused on developing innovative oncology radiopharmaceuticals for high unmet medical needs [1][5]. - The company is listed on ASX (RAD) and NASDAQ (RADX) and has a pipeline that includes one Phase 2 and three Phase 1 trials targeting various solid tumor cancers, including lung, breast, and brain metastases [5]. Dr. Oliver Sartor's Background - Dr. Sartor is a recognized expert in prostate cancer and radiopharmaceutical therapies, currently serving as Director of Radiopharmaceutical Clinical Trials at Mayo Clinic [2][3]. - He has authored over 500 peer-reviewed publications and led pivotal Phase 3 trials that resulted in FDA approvals for several therapies [4]. Strategic Importance - The addition of Dr. Sartor to the Scientific Advisory Board is expected to provide invaluable insights and leadership as the company advances its radiopharmaceutical pipeline [5].