Market Overview - US stock index futures are all down before the market opens, with Dow futures down 0.06%, S&P 500 futures down 0.12%, and Nasdaq futures down 0.07% [1] - Major European indices show positive performance, with Germany's DAX up 0.52%, UK's FTSE 100 up 0.11%, France's CAC40 up 0.72%, and the Euro Stoxx 50 up 0.50% [2][3] - WTI crude oil is down 0.33% at $62.81 per barrel, while Brent crude oil is down 0.36% at $65.56 per barrel [3][4] Economic Data and Corporate Earnings - The upcoming week is significant for economic data and corporate earnings, with the April non-farm payroll report and Q1 inflation data being key focuses [5] - 180 S&P 500 companies are set to report quarterly earnings, with major companies like Apple, Amazon, Coca-Cola, Eli Lilly, Meta, Microsoft, and Chevron in the spotlight [5] Corporate Actions - Spirit AeroSystems has reached an agreement with Airbus for the acquisition of certain assets, with Boeing repurchasing its previously divested business for $4.7 billion in stock [8] - Merck has announced a $3.9 billion acquisition of SpringWorks Therapeutics to enhance its oncology drug portfolio, with the deal valued at approximately $3.4 billion in enterprise value [9] - Amazon has seen prices of nearly 1,000 products rise by an average of 30% due to the impact of tariffs, affecting various categories from electronics to clothing [10] Earnings Forecast - Upcoming earnings reports include companies such as NXP Semiconductors, AstraZeneca, BP, Novartis, Deutsche Bank, HSBC, Coca-Cola, Pfizer, UPS, General Motors, Daqo New Energy, and JinkoSolar [11]

Core Viewpoint - Merck has agreed to acquire SpringWorks Therapeutics for $3.9 billion in equity value to enhance its oncology drug business [1][2] Group 1: Acquisition Details - The acquisition price is set at $47 per share, translating to an equity value of approximately $3.9 billion and an enterprise value of about $3.4 billion (30 million euros) after accounting for SpringWorks' cash [1] - The transaction will be funded through available cash and new debt, and is expected to increase Merck's adjusted earnings per share by 2027 [1] Group 2: Strategic Implications - This acquisition marks one of Merck's largest pharmaceutical deals in recent years, reinforcing its ongoing efforts to build a cancer treatment portfolio [2] - Analysts suggest that this deal could accelerate Merck's growth, especially as sales of its cancer drug Bavencio slow down and its multiple sclerosis treatment Mavenclad faces patent expiration [2]

Core Viewpoint - Merck KGaA, Darmstadt, Germany is set to acquire SpringWorks Therapeutics for $47 per share, totaling an equity value of approximately $3.9 billion, which will enhance its Healthcare business and expand its presence in the U.S. market [1][2][9] Group 1: Acquisition Details - The acquisition price of $47 per share represents a 26% premium over SpringWorks' unaffected 20-day volume-weighted average price of $37.38 as of February 7, 2025 [1] - The enterprise value of the transaction is approximately $3.4 billion (€3.0 billion) based on SpringWorks' cash balance as of December 31, 2024 [1] - The transaction is expected to close in the second half of 2025, pending shareholder and regulatory approvals [9] Group 2: Strategic Importance - This acquisition aligns with Merck KGaA's strategy to diversify its portfolio and focus on rare tumors, which is a growing area in the healthcare sector [2][4] - The planned acquisition will immediately contribute to Merck KGaA's revenues and is expected to be accretive to earnings per share by 2027 [3] - Merck KGaA aims to leverage SpringWorks' innovative therapies to enhance its offerings in the rare tumor market [5][6] Group 3: SpringWorks' Portfolio - SpringWorks has developed first-in-class therapies for rare tumors, including OGSIVEO® for desmoid tumors and GOMEKLI™ for neurofibromatosis type 1-associated plexiform neurofibromas [7][8] - The acquisition will allow SpringWorks to expand its market reach beyond the U.S. and utilize Merck KGaA's global resources [6][11] - SpringWorks' ongoing pipeline includes additional programs targeting underserved tumor settings, which will complement Merck KGaA's existing portfolio [8][11]

Core Viewpoint - SpringWorks Therapeutics, Inc. anticipates a favorable opinion from the CHMP of the EMA regarding the marketing authorization application for nirogacestat in Q2 2025, aimed at treating adults with desmoid tumors [1] Company Overview - SpringWorks Therapeutics is a commercial-stage biopharmaceutical company focused on severe rare diseases and cancer, with FDA-approved products including OGSIVEO (nirogacestat) for desmoid tumors and GOMEKLI™ (mirdametinib) for neurofibromatosis type 1 associated plexiform neurofibromas [2]

Company Overview - SpringWorks Therapeutics (SWTX) shares increased by 9% to close at $44.93, following a notable trading volume that exceeded typical levels, contrasting with an 11.3% loss over the past four weeks [1] - The rise in stock price is linked to growing investor optimism regarding the company's lead product, Ogsiveo (nirogacestat), which is approved for treating Desmoid tumors and has seen rapid uptake since its late 2023 approval [2] Financial Performance - The company is expected to report a quarterly loss of $0.79 per share, reflecting a year-over-year increase of 33.1%, while revenues are projected to be $64.19 million, marking a 205.5% increase from the same quarter last year [3] - The consensus EPS estimate for SpringWorks has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] Industry Context - SpringWorks Therapeutics operates within the Zacks Medical - Biomedical and Genetics industry, where another company, Pharming Group N.V. Sponsored ADR (PHAR), saw a 3.8% increase in its stock price, closing at $8.58, despite a -5.8% return over the past month [4] - Pharming Group's consensus EPS estimate for the upcoming report has also remained unchanged at -$0.25, representing a 31.6% decline from the previous year [5]

Core Viewpoint - SpringWorks Therapeutics reported a wider loss per share in Q4 2024 compared to estimates, despite a significant increase in total revenues driven by the successful launch of its product Ogsiveo [1][2][6]. Financial Performance - The company incurred a loss of $1.04 per share in Q4 2024, exceeding the Zacks Consensus Estimate of a loss of 72 cents, and improved from a loss of $1.44 per share in the same quarter last year [1]. - Total revenues for Q4 2024 reached $61.5 million, surpassing the Zacks Consensus Estimate of $60 million, and significantly up from $5.4 million in the year-ago quarter [2]. - For the full year 2024, SpringWorks generated revenues of $191.6 million, compared to $5.4 million in the previous year, with a loss of $3.48 per share, an improvement from a loss of $5.15 per share in the prior year [6]. Product Development and Market Position - Ogsiveo became the first approved product in SpringWorks' portfolio and the first drug approved for treating desmoid tumors, with net product revenues increasing nearly 24.7% sequentially in Q4 due to strong demand [2][3]. - The FDA approved Ogsiveo in November 2023 for adult patients with progressing desmoid tumors, and the company aims to establish it as the standard of care [2][4]. - The marketing authorization application for Ogsiveo is under review with the European Medicines Agency (EMA), with potential approval expected in 2025 [7]. Research and Development - Research and development expenses in Q4 totaled $60.2 million, a 37.7% increase from the previous year, attributed to higher drug manufacturing costs and ongoing clinical studies [4]. - Selling, general, and administrative expenses reached $77.1 million, up approximately 28.9% year-over-year, primarily due to costs associated with the launch of Gomekli [5]. Stock Performance - Following the earnings announcement, SpringWorks shares rose by 7.5% on February 20, and the stock has increased by 22.1% over the past year, contrasting with an 8.3% decline in the industry [3].

YANCOAL AUSTRALIA LTD | ADDRESS: | Level 18, Tower 2, 201 Sussex Street, | | --- | --- | | | Sydney NSW 2000 | | PHONE: | 61 2 8583 5300 | | FAX: | 61 2 8583 5399 | | WEBSITE: | www.yancoal.com.au | 20 February 2025 ASX Release: 2024 Financial Results Presentation Authorised for lodgement by the Board of Yancoal Australia Investor Relations Contact: Brendan Fitzpatrick, GM Investor Relations Email: Brendan.Fitzpatrick@yancoal.com.au Additional information about the company can be found at www.yancoal.com.au ...

Company Performance - SpringWorks Therapeutics reported a quarterly loss of $1.04 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.72, representing an earnings surprise of -44.44% [1] - The company posted revenues of $61.55 million for the quarter ended December 2024, exceeding the Zacks Consensus Estimate by 2.52%, and showing significant growth from $5.45 million in the same quarter last year [2] - Over the last four quarters, SpringWorks has surpassed consensus EPS estimates two times and topped consensus revenue estimates three times [2] Stock Performance - SpringWorks Therapeutics shares have increased approximately 54.3% since the beginning of the year, significantly outperforming the S&P 500's gain of 4.5% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.73 on revenues of $64.18 million, and for the current fiscal year, it is -$2.05 on revenues of $332.27 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which SpringWorks belongs, is currently ranked in the top 27% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact stock performance [5][6]

Financial Performance - OGSIVEO generated net sales of $172.0 million in 2024, up from $5.4 million in 2023[549]. - The company recorded net product revenue of $172.0 million for the year ended December 31, 2024, compared to $5.4 million for the year ended December 31, 2023, reflecting a significant increase of $166.6 million[593]. - Total revenue for 2024 was $191,589 thousand, compared to $5,447 thousand in 2023, indicating a substantial growth[661]. - The net loss for 2024 was $258,131 thousand, an improvement from a net loss of $325,104 thousand in 2023[661]. - The company reported a net loss of $258.1 million for the year ended December 31, 2024, an improvement from a net loss of $325.1 million in 2023, and $277.4 million in 2022[671]. Cash and Securities - The company had cash, cash equivalents, and marketable securities of $461.9 million as of December 31, 2024, down from $662.6 million in 2023[558]. - Cash used in operating activities was $175.6 million in 2024, down from $222.8 million in 2023, indicating improved cash flow management[621]. - The company had cash, cash equivalents, and marketable securities totaling $461.9 million, down from $662.6 million as of December 31, 2023[680]. - The company’s accumulated deficit reached $1.2 billion as of December 31, 2024, compared to $895.0 million as of December 31, 2023[679]. - The company had no outstanding debt as of December 31, 2024[643]. Operating Expenses - Total operating expenses increased to $469.7 million for the year ended December 31, 2024, up from $348.5 million in 2023, representing a 35% increase[593]. - Research and development expenses rose to $200.5 million in 2024, an increase of $50.0 million or 33% compared to $150.5 million in 2023[593]. - Selling, general and administrative expenses were $256.7 million for the year ended December 31, 2024, a 30% increase from $197.6 million in 2023[593]. - The total equity-based compensation expense for 2024 was $109,140,000, compared to $94,534,000 in 2023, indicating a year-over-year increase of approximately 15.4%[737]. Regulatory Approvals and Product Development - GOMEKLI was approved by the FDA on February 11, 2025, for treating NF1-PN, with commercialization starting in the same month[550]. - The FDA approved OGSIVEO in November 2023, leading to revenue generation from sales starting in December 2023[578]. - The company anticipates ongoing regulatory reviews for nirogacestat and mirdametinib, with decisions expected in 2025[551]. - The company began capitalizing inventory for OGSIVEO upon its FDA approval in November 2023[692]. Collaborations and Agreements - The company has entered into a license agreement with Rappta Therapeutics for a portfolio of PP2A activators, with an upfront payment of $13 million and potential future milestones totaling up to $235 million[565]. - The company terminated its collaboration agreement with GSK, effective December 3, 2024, but will continue to support ongoing clinical trials[552]. - The company entered into several clinical trial collaboration agreements to evaluate nirogacestat in combination with BCMA-directed therapies[571]. Future Outlook - The company expects to continue incurring significant expenses related to the commercialization of OGSIVEO and GOMEKLI, as well as ongoing clinical development[560]. - The company anticipates achieving profitability in the first half of 2026, indicating a long-term outlook for financial recovery[614]. - The company expects research and development expenses to continue increasing as it invests in product candidates and preclinical programs[583]. Assets and Liabilities - Total assets decreased to $587,276 thousand in 2024 from $725,788 thousand in 2023, indicating a reduction in overall financial resources[659]. - The company's total accrued expenses increased to $86,012,000 in 2024, up from $65,569,000 in 2023, reflecting a significant rise in accrued compensation and benefits[736]. - The company's property and equipment, net, rose to $19,680,000 in 2024 from $17,943,000 in 2023, showing an increase of about 9.7%[731]. Stock Options and Compensation - The company had 12,818,963 stock options outstanding, with a weighted average exercise price of $35.90 and an intrinsic aggregate value of $105,568,481[742]. - The total unrecognized compensation expense related to unvested stock options was $100.2 million, expected to be recognized over approximately 2.2 years[743]. - The total restricted stock awards compensation expense for the year ended December 31, 2024, was $2.2 million, with 11,101 unvested shares outstanding at year-end[744].

Financial Performance - SpringWorks Therapeutics, Inc. achieved preliminary U.S. net product revenue of $61.5 million for Q4 2024 and $172.0 million for the fiscal year ended December 31, 2024[4] - The company's total preliminary cash, cash equivalents, and marketable securities amounted to $461.9 million as of December 31, 2024[4] Audit Status - The financial information provided is unaudited and preliminary, with ongoing audits that may result in changes[5]