Financial Performance - For the three months ended September 30, 2025, the Company reported a net loss attributable to common shareholders of $6.158 million, compared to a net income of $320.164 million for the same period in 2024 [75]. - The total revenues for the nine months ended September 30, 2025, were $103.193 million, a decrease of $139.374 million compared to $242.567 million for the same period in 2024 [84]. - For the nine months ended September 30, 2025, net income attributable to common shareholders was $43.4 million, down $485.8 million from $529.3 million in 2024 [89]. - For the three months ended September 30, 2025, the company reported an operating loss of $137.0 million, a significant increase of $77.2 million compared to the same period in 2024 [85]. - The company recorded impairment charges of $106.6 million for the nine months ended September 30, 2025, compared to $66.6 million in the prior year, reflecting a $39.9 million increase [85]. Revenue and Occupancy - The aggregate occupancy rate of the Company's operating shopping center portfolio was 86.7% at September 30, 2025, down from 90.6% at December 31, 2024 [82]. - For the nine months ended September 30, 2025, the Company reported a decrease in base and percentage rental income of $107.324 million primarily due to the disposition of shopping centers [84]. - Recoveries from tenants for the nine months ended September 30, 2025, were approximately 68.6% of operating expenses, down from 82.3% in 2024, primarily due to transactional activity [86]. Dividends and Shareholder Returns - The Company declared special cash dividends of $1.50 and $3.25 per common share in June and August 2025, respectively, and announced an additional special cash dividend of $1.00 per common share to be paid in November 2025 [82]. - The Company declared special cash dividends totaling $250.3 million during the nine months ended September 30, 2025 [113]. - The Company repurchased 0.5 million common shares at an aggregate cost of approximately $26.6 million under its share repurchase program [116]. Debt and Financing - The weighted-average debt outstanding decreased from $1.3 billion in 2024 to $0.3 billion in 2025, with a weighted-average interest rate increasing from 5.2% to 6.1% [87]. - As of September 30, 2025, the Company had $251.3 million in consolidated indebtedness, with a mortgage facility secured by 10 assets [106]. - The Company has no consolidated debt maturing in 2025 and expects to fund future maturities from cash on hand, asset sales, and cash flow from operations [130]. - The Company may seek additional debt financings or asset sales to manage its balance sheet and repay upcoming maturities [127]. - The Company's fixed-rate debt as of September 30, 2025, amounts to $97.5 million with a weighted average interest rate of 6.7% [144]. - The Company's variable-rate debt as of September 30, 2025, is $151.2 million with a weighted average interest rate of 6.9% [144]. Asset Management and Sales - The Company generated approximately $3.1 billion in gross proceeds from property sales from July 1, 2023, to December 31, 2024, to fund acquisitions and repay debt [76]. - The company sold six wholly-owned shopping centers in 2025, compared to 40 shopping centers sold in 2024, indicating a strategic shift in asset management [90]. - The Company has entered into agreements to sell five properties for an aggregate sales price of approximately $292.1 million, with expected closing in Q4 2025 [120]. - From January 1, 2025, to November 5, 2025, the Company sold wholly-owned shopping centers for a total sales price of $380.9 million [122]. Operational Costs and Expenses - Cash flow provided by operating activities decreased by $115.1 million to $28.084 million for the nine months ended September 30, 2025 [112]. - The company experienced a decrease in general and administrative expenses for the nine months ended September 30, 2025, primarily due to the transfer of employees to Curbline during the spin-off [85]. - The Company anticipates approximately $28.4 million in costs to complete redevelopment projects at properties owned by Curbline [108]. - The Company had approximately $4.4 million in construction in progress for various active re-tenanting projects as of September 30, 2025 [123]. Market and Economic Conditions - The Company is subject to risks from changing economic conditions, including inflation and interest rate fluctuations, which could impact retail sales and tenant performance [138]. - The Company benefits from a diversified tenant base, with only five tenants accounting for 3% or more of the Company's annualized base rent [137]. - A 100 basis-point increase in short-term market interest rates on variable-rate debt would result in an increase in interest expense of approximately $1.1 million for the nine months ended September 30, 2025 [144]. - The fair value of the Company's fixed-rate debt would increase to $102.2 million with a 100 basis-point increase in market interest rates as of September 30, 2025 [147]. Regulatory and Compliance Issues - The Company is subject to complex regulations related to its status as a REIT, which could be adversely affected if it fails to qualify as a REIT [143]. - The Company may incur additional expenses to comply with or respond to claims under the Americans with Disabilities Act or changes in government regulations [146]. - The Company’s exposure to increases in interest rates could rise if it incurs additional variable-rate indebtedness in a rising interest rate environment [145]. - The Company and its joint ventures intend to actively manage interest costs on their variable-rate debt portfolio [148].

Financial Performance - Third quarter net loss attributable to common shareholders was $6.2 million, or $0.13 per diluted share, compared to net income of $320.2 million, or $6.07 per diluted share, in the year-ago period[10] - Operating funds from operations attributable to common shareholders ("Operating FFO") was $5.6 million, or $0.11 per diluted share, compared to $42.8 million, or $0.81 per diluted share, in the year-ago period[10] - Rental income for Q3 2025 was $24,203,000, a decrease of 59.3% compared to $59,441,000 in Q3 2024[23] - Net operating income (NOI) for Q3 2025 was $15,128,000, down 62.5% from $40,270,000 in Q3 2024[23] - The company reported a net loss attributable to common shareholders of $6,158,000 in Q3 2025, compared to a net income of $320,164,000 in Q3 2024[25] - FFO (Funds from Operations) attributable to common shareholders was $3,639,000 in Q3 2025, compared to a loss of $13,495,000 in Q3 2024[25] - Operating FFO per share was $0.11 for Q3 2025, down from $0.82 in Q3 2024[25] - Common stock dividends declared per share were $3.25 in Q3 2025, compared to $0.00 in Q3 2024[25] Asset and Liability Management - The total assets decreased to $653,955,000 in Q3 2025 from $933,602,000 in Q4 2024, reflecting a decline of 30%[27] - Total liabilities decreased to $345,669,000 in Q3 2025 from $416,858,000 in Q4 2024, a reduction of 17%[27] - The company reported a net debt of $207.7 million, down from $336.2 million, reflecting a 38.1% decrease[34] - Cash balance increased to $128,234,000 in Q3 2025 from $54,595,000 in Q4 2024, an increase of 134%[27] Property Transactions and Leases - The company sold seven properties for an aggregate price of $380.9 million year to date[7] - The company has properties under contract for sale valued at over $292 million, with buyers' due diligence conditions expired[7] - The company has agreed to sell East Hanover Plaza, Southmont Plaza, and Stow Community Center for an aggregate price of $126.0 million, with closing expected in Q4 2025[18] - Executed six new leases and 23 renewals for 237,000 square feet during the quarter[10] - The company completed a strategic spin-off of Curbline Properties on October 1, 2024, which is now reflected as discontinued operations[64] Leasing and Occupancy - Reported a leased rate of 87.6% at September 30, 2025, down from 91.1% at December 31, 2024[10] - The average occupancy rate across properties was 87.6% as of September 30, 2025[60] - The leased rate stands at 87.6%, down from 91.3% a year ago, representing a decline of 3.7 percentage points[29] - The company has a total of 151 leases with an average rent of $14.79 per square foot, with 425 leases under 10,000 square feet[42] Impairments and Charges - Recorded impairments of $106.6 million due to changes in the hold period assumptions for five wholly-owned assets[10] - The company recorded impairment charges of $106,570,000 in Q3 2025, compared to $66,600,000 in the same period last year[25] Market Capitalization and Share Value - The market value per share decreased to $9.01 from $15.29 over the past year, a decline of 41.5%[34] - Total market capitalization has decreased to $680.2 million from $1.14 billion, a reduction of 40.3%[34] Future Projections and Strategy - The company anticipates continued market expansion and strategic acquisitions in the upcoming quarters[46] - The overall strategy includes focusing on lease renewals and potential market expansions to enhance revenue streams[97] - The company expects to maintain a consistent growth in ABR across the years, with significant contributions from leases expiring in the coming years[97] Joint Ventures and Additional Properties - The company has a total of 11 joint venture properties, with an average owned percentage of 20%[49] - The joint ventures have a total GLA of 3,755, with a net operating income (NOI) of $14,081 at 100%[49] - The debt balance for the joint ventures stands at $440,992, with mortgage debt at $103,688[49] Rental Income and Revenue - Rental income for the third quarter includes minimum rents of $3,377 and recoveries of $1,144[53] - The company reported a net income loss attributable to unconsolidated joint ventures of $(1,639,000) in Q3 2025, compared to a gain of $985,000 in Q3 2024[57] - Total revenues for 9M 2025 decreased to $61,099,000 from $62,667,000 in 9M 2024, reflecting a year-over-year decline of approximately 2.5%[57]

Core Insights - SITE Centers Corp. reported a net loss of $6.2 million for Q3 2025, a significant decline from a net income of $320.2 million in the same period last year, primarily due to impairments and lower rental income [5][18][19] - The company has sold seven properties year-to-date for a total of $380.9 million and has declared dividends of $5.75 per share [2][5] - The leased rate decreased to 87.6% as of September 30, 2025, down from 91.1% at the end of 2024 [5][18] Financial Performance - Operating funds from operations (OFFO) for Q3 2025 were $5.6 million, or $0.11 per diluted share, compared to $42.8 million, or $0.81 per diluted share in Q3 2024 [5][22] - Rental income for Q3 2025 was reported at $24.2 million, a decrease from $59.4 million in Q3 2024 [18][19] - The company recorded impairments totaling $106.6 million due to changes in hold period assumptions for five wholly-owned assets [5][22] Property Transactions - Notable property sales included Sandy Plains Village for $25 million, Winter Garden Village for $165 million, Deer Valley Towne Center for $33.7 million, and Edgewater Towne Center for $53.5 million [5][13] - The company has over $292 million in properties under contract for sale, with buyers' due diligence conditions expired [2][5] Recent Developments - A special cash distribution of $1.00 per common share was announced, payable on November 14, 2025 [13][27] - The company executed six new leases and 23 renewals for a total of 237,000 square feet during the quarter [5][18]

Group 1 - Proactive provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The news team covers medium and small-cap markets, as well as blue-chip companies, commodities, and broader investment stories [3] - Proactive's content includes insights across various sectors such as biotech, pharma, mining, natural resources, battery metals, oil and gas, crypto, and emerging technologies [3] Group 2 - Proactive is committed to adopting technology to enhance workflows and content production [4] - The company utilizes automation and software tools, including generative AI, while ensuring all content is edited and authored by humans [5]

Core Insights - Crescent Biopharma is advancing CR-001, a PD-1 x VEGF bispecific antibody, for the treatment of solid tumors, with IND submission expected in Q4 2025 to initiate a global Phase 1 trial in early 2026 [1][3]. Group 1: Product Development - CR-001 combines two validated mechanisms in oncology by blocking PD-1 and VEGF, demonstrating cooperative pharmacology and enhanced T-cell activation in preclinical studies [2][4]. - Preclinical data indicates CR-001 showed potent anti-tumor activity in xenograft mouse models and was well-tolerated in non-human primates [2][4]. - The upcoming presentation at the Society for Immunotherapy of Cancer's 40th Annual Meeting will detail the preclinical development of CR-001 [3]. Group 2: Competitive Landscape - CR-001's mechanism of action is consistent with ivonescimab, which outperformed pembrolizumab in a Phase 3 trial for non-small cell lung cancer, suggesting potential competitive advantages [2][4]. - The anti-VEGF activity of CR-001 may normalize tumor vasculature, potentially enhancing the effectiveness of combination therapies with other antibody-drug conjugates in development [4]. Group 3: Company Vision - Crescent Biopharma aims to establish itself as a leading oncology company by developing transformative therapies for cancer patients, leveraging multiple modalities and established targets [5].

Core Insights - Compass Therapeutics, Inc. is presenting its preclinical development of CTX-10726, a bispecific antibody targeting PD-1 and VEGF-A, at the 40th Society for Immunotherapy of Cancer Annual Meeting [1][3] Company Overview - Compass Therapeutics is a clinical-stage biopharmaceutical company focused on oncology, developing proprietary antibody-based therapeutics to treat various human diseases [4][7] - The company emphasizes the interplay between angiogenesis, the immune system, and tumor growth, aiming to create a robust pipeline of product candidates targeting critical biological pathways for effective anti-tumor responses [4][7] Product Development - CTX-10726 is designed for patients with metastatic or locally advanced tumors, enhancing anti-tumor responses by targeting both immune checkpoints and tumor vasculature [3][5] - The bispecific antibody has shown potent anti-tumor activity in preclinical mouse models, outperforming competitive antibodies like ivonescimab in controlling tumor growth [5][6] - IND submission for CTX-10726 is on track for Q4 2025 [5] Preclinical Data Highlights - In vitro, CTX-10726 demonstrated high-affinity binding to VEGF-A and PD-1, effectively blocking their interactions in a dose-dependent manner [6] - In vivo studies showed superior anti-tumor efficacy in various cancer models, including human lung and colon cancer, with significant tumor size reduction compared to other treatments [6]

Core Viewpoint - SITE Centers Corp. announced the sale of Parker Pavilions for approximately $8.4 million, with part of the proceeds used to repay $6.1 million of mortgage debt [1]. Group 1: Company Overview - SITE Centers Corp. is an owner and manager of open-air shopping centers and operates as a self-administered and self-managed REIT [2][5]. - The company is publicly traded on the New York Stock Exchange under the ticker symbol SITC [2]. Group 2: Recent Transactions - The sale of Parker Pavilions was completed prior to closing costs, prorations, and other adjustments [1]. - The company has also announced a special cash distribution of $1.00 per common share, payable on November 14, 2025, to shareholders of record at the close of business on October 31, 2025 [4][5].

Core Insights - U.S. stock futures showed a mostly positive trend, with Nasdaq futures increasing by over 1% on Friday [1] - Roku Inc experienced a significant decline in pre-market trading following its third-quarter earnings report [1] Company Performance - Roku reported third-quarter net revenue of $1.211 billion, reflecting a 14% year-over-year increase, surpassing the Street consensus estimate of $1.206 billion [2] - The platform revenue for Roku was $1.06 billion, up 17% year-over-year, while device revenue decreased by 5% to $146 million [2] - Roku shares fell by 5% to $94.99 in pre-market trading following the earnings report [2] Other Companies in Focus - SPS Commerce Inc saw a 32.1% drop in shares to $70.57 after mixed third-quarter results and lower fourth-quarter guidance [4] - Corbus Pharmaceuticals Holdings Inc's shares fell 16.4% to $13.74 due to a public offering announcement [4] - Onespan Inc's shares decreased by 16.1% to $13.02 after reporting disappointing third-quarter sales and lowering FY25 guidance [4] - Savers Value Village Inc's shares dipped 15% to $11.25 following worse-than-expected third-quarter sales and lowered FY25 GAAP EPS guidance [4] - GSI Technology, Inc. shares fell 14.1% to $9.50 after second-quarter results [4] - Newell Brands Inc's shares declined 13.1% to $4.10 due to downbeat third-quarter results and lowered FY25 guidance [4] - DexCom Inc's shares fell 12.1% to $59.97 after announcing third-quarter results [4] - Site Centers Corp's shares declined 11.2% to $7.44 ahead of its third-quarter earnings release [4] - Aptiv PLC shares fell 7.6% to $75.88 [4] - Ventas Inc shares declined 7.5% to $68.77 [4] - Cooper-Standard Holdings Inc's shares fell 6.3% to $33.52 after reporting disappointing third-quarter results and lowering FY25 sales guidance [4]

Core Insights - U.S. stock futures showed a mostly positive trend, with Nasdaq futures increasing by over 1% on Friday [1] - Roku Inc experienced a significant decline in pre-market trading following its third-quarter earnings report [1] Company Performance - Roku reported third-quarter net revenue of $1.211 billion, reflecting a 14% year-over-year increase, surpassing the Street consensus estimate of $1.206 billion [2] - The company's platform revenue reached $1.06 billion, up 17% year-over-year, while devices revenue fell to $146 million, down 5% year-over-year [2] - Roku shares dropped 5% to $94.99 in pre-market trading following the earnings announcement [2] Other Company Movements - SPS Commerce Inc saw a 32.1% decline in pre-market trading to $70.57 after mixed third-quarter results and lower fourth-quarter guidance [4] - Corbus Pharmaceuticals Holdings Inc's shares fell 16.4% to $13.74 due to a public offering announcement [4] - Onespan Inc's shares decreased by 16.1% to $13.02 after reporting disappointing third-quarter sales and lowering FY25 guidance [4] - Savers Value Village Inc's shares dipped 15% to $11.25 following worse-than-expected third-quarter sales and lowered FY25 GAAP EPS guidance [4] - GSI Technology, Inc. shares fell 14.1% to $9.50 after second-quarter results [4] - Newell Brands Inc's shares declined 13.1% to $4.10 due to downbeat third-quarter results and lowered FY25 guidance [4] - DexCom Inc's shares dropped 12.1% to $59.97 after announcing third-quarter results [4] - Site Centers Corp's shares declined 11.2% to $7.44 ahead of its third-quarter earnings release [4] - Aptiv PLC and Ventas Inc saw declines of 7.6% to $75.88 and 7.5% to $68.77, respectively [4] - Cooper-Standard Holdings Inc's shares fell 6.3% to $33.52 after reporting disappointing third-quarter results and lowering FY25 sales guidance [4]

Core Viewpoint - SITE Centers Corp. announced a special cash distribution of $1.00 per common share, payable on November 14, 2025, to shareholders of record as of October 31, 2025 [1] Company Overview - SITE Centers Corp. is an owner and manager of open-air shopping centers [1] - The company operates as a self-administered and self-managed Real Estate Investment Trust (REIT), functioning as a fully integrated real estate company [1]