Core Viewpoint - Atossa Therapeutics is strategically pursuing a metastatic breast cancer indication for (Z)-endoxifen, believing it offers a more efficient regulatory pathway to address urgent medical needs in this area [1][4]. Group 1: Unmet Medical Need - Metastatic breast cancer presents a significant unmet medical need, with current treatments often having limited durability and substantial side effects [2]. - (Z)-endoxifen is a selective estrogen receptor modulator (SERM) that has shown promising results in previous clinical trials, indicating its potential to address this treatment gap [2]. Group 2: Clinical Trial Data - Early-stage trials of (Z)-endoxifen have demonstrated encouraging results, reinforcing its potential as a transformative therapy for breast cancer [3]. - Key findings include: - In CDK4/6i-naïve patients, (Z)-endoxifen more than doubled the median progression-free survival (PFS) compared to tamoxifen (7.2 months vs. 2.4 months) [5]. - Patients who progressed on tamoxifen and switched to (Z)-endoxifen experienced clinical benefits, including prolonged stable disease exceeding 2-3 years in some cases [5]. - (Z)-endoxifen has a favorable safety profile, showing no unexpected safety concerns beyond those typically seen with tamoxifen [5]. Group 3: Strategic Advantages - Pursuing an initial approval in metastatic breast cancer is seen as an efficient regulatory and clinical path to market, potentially allowing for quicker access to patients in need [4]. - This strategy also lays the groundwork for expanding (Z)-endoxifen's role in earlier-stage disease settings, where it has shown promise in reducing tumor proliferation and preventing recurrence [4]. Group 4: Broader Indications - Atossa is committed to demonstrating the broad clinical utility of (Z)-endoxifen across the breast cancer treatment spectrum, including prevention and neoadjuvant therapy [5][6]. - Prior studies suggest that (Z)-endoxifen can significantly reduce breast tissue density and estrogen receptor activity, which are key risk factors for developing breast cancer [6]. - Data from early-stage patients indicate that (Z)-endoxifen may effectively reduce tumor proliferation, leading to improved surgical outcomes and long-term prognosis [7]. Group 5: Company Overview - Atossa Therapeutics is a clinical-stage biopharmaceutical company focused on transforming breast cancer treatment through innovative science and patient-centered solutions [8]. - The company's lead product candidate, (Z)-endoxifen, is designed for use across the breast cancer spectrum, including prevention, neoadjuvant, adjuvant, and metastatic settings [8].

Core Insights - Zillow's analysis indicates that the optimal time to sell a home in the U.S. is during the second half of May, where homes sold for 1.6% more, translating to an average increase of $5,600 on a typical home [1][7]. Market Trends - The peak search activity for home buyers typically occurs before Memorial Day, as potential buyers prepare for summer and the upcoming school year [1]. - Mortgage rate fluctuations have disrupted traditional seasonal patterns in the housing market, affecting buyer behavior and home prices [3]. Regional Variations - The best time to list a home varies significantly by metropolitan area, with some regions like San Diego and Austin seeing optimal listing times as early as the second half of March, while Phoenix sees it as late as the second half of November [4][10]. - In San Jose, sellers listing in the second half of March achieved a premium of 5.3%, equating to an additional $93,200 on a typical home, while Orlando saw only a 0.9% increase during its peak [5][10]. Seller Strategies - Sellers are encouraged to maximize exposure by listing their homes on the Multiple Listing Service (MLS), as homes not listed on the MLS sell for a median of 1.5% less, resulting in a potential loss of nearly $5,000 [8]. - Highlighting desirable features, such as outdoor amenities, can lead to higher sale prices, with buyers willing to pay up to 3.1% more for certain backyard luxuries [8][9]. - Listings with comprehensive online media packages, including high-resolution images and virtual tours, can sell for 2% more than similar homes, adding over $9,000 to the sale price [9].

Core Insights - The housing market has undergone significant changes over the past five years, with home values and rents reaching record highs, and the number of homes valued at $1 million more than doubling since the onset of the pandemic [1][6][9] Market Trends - Home values have increased by 45.3% nationally since February 2020, with Miami experiencing the highest growth at 61.1% [3][9] - The demand for homes has been driven by lower mortgage rates, higher savings, and a desire for more space during the pandemic [2] - The typical $1 million home is now approximately 70 square feet smaller than it was at the beginning of the pandemic, indicating a shift in buyer preferences [7] Regional Highlights - Austin, TX, saw the most volatile market, with home values increasing by 40.3% during the pandemic's early phase but later declining by 14% due to rising mortgage rates [4] - In New York City, median asking rents have risen by 24.1% since the pandemic began, with the Bronx experiencing the sharpest increase at 42.3% [5] Construction and Supply - Builders responded to increased demand with over 1 million single-family home starts in 2021, the highest since 2007, which has helped to moderate price growth [8][10] - The shift towards higher-density homes, such as townhomes and condos, has been a strategy to maintain affordability amid rising land and material costs [10] Buyer Preferences - Outdoor features have remained in high demand, with buyers willing to pay at least 2% more for homes with such amenities [11] - Virtual home shopping has become more prevalent, with a significant increase in the use of digital tools, such as 3D tours, enhancing the home-buying experience [13][15]

Group 1 - Zillow is establishing itself as the leading housing discovery tool in the market [1] - Despite a poor stock performance post-earnings, the company is showing strong growth in rentals and mortgages [1] - Zillow is becoming increasingly profitable year over year [1]

Mortgage Rates Overview - The current average rate for a 30-year fixed mortgage is 6.87%, with a daily decrease of 0.06% [1][2] - The Freddie Mac average for 30-year mortgages has seen fluctuations, recently dropping from a peak of 7.79% in October 2023 to the current rate [2][10] - The Investopedia average differs from Freddie Mac's due to its daily calculation method, providing a more immediate reflection of rate changes [3] Rate Changes and Influences - Various loan types show different rates, with the FHA 30-Year Fixed at 7.25% and VA 30-Year Fixed at 6.43% [1] - The Federal Reserve's bond-buying policies significantly influenced mortgage rates, particularly during the pandemic [7][9] - The Fed's tapering of bond purchases and subsequent rate hikes have led to a dramatic increase in mortgage rates over the past two years [10][11] Future Rate Expectations - The Fed has maintained a peak federal funds rate since July 2023, with recent announcements indicating potential rate cuts in the future [11][12] - The Fed's quarterly rate forecast suggests limited rate cuts in the coming year, with expectations for multiple rate-hold announcements [12] Rate Calculation Methodology - The national averages provided assume an 80% loan-to-value ratio and a credit score range of 680-739, which may differ from advertised teaser rates [13]

Core Insights - Zillow Group Inc's shares have increased by 0.7% to $78.78 after a previous session's decline of 9.4% due to disappointing first-quarter guidance despite strong fourth-quarter results [1] - The stock has shown a year-over-year gain of 35.1% and previously reached a three-year high of $89.39 on February 11 [1] Group 1 - The stock has approached its 80-day moving average after being above it for 80% of the time over the past two months, with a historical trend showing a 60% chance of being higher one month later, averaging a 10.4% return [2] - A similar increase from the current price could position Zillow stock at $86.97, closer to its recent peak [2] Group 2 - There has been a build-up of short interest, representing 6.7% of the stock's available float, which could provide tailwinds if the stock rebounds [3] - It would take over four days to cover the short interest at the stock's average trading pace [3] Group 3 - The stock's 14-day relative strength index (RSI) of 34 is nearing "oversold" territory, indicating potential for a rebound [4] - The 10-day put/call volume ratio ranks higher than 91% of readings from the past year, suggesting increased bearish sentiment [4]

The housing market hasn't been normal for years. Battered by the Fed's sharp interest rate hikes in 2023/early 2024, incredibly tight housing supply (in part driven by homeowners who don't want to move for fear of locking into higher mortgage rates), and industry ruleWith combined experience of covering technology companies on Wall Street and working in Silicon Valley, and serving as an outside adviser to several seed-round startups, Gary Alexander has exposure to many of the themes shaping the industry tod ...

Zillow Group, Inc. ZG shares are trading lower after the company reported mixed results on Tuesday.The company reported fourth-quarter adjusted EPS of 27 cents, missing the consensus of 28 cents, while sales of $554 million exceeded the $545.9 million estimate.Zillow expects first-quarter sales of $575 million to $590 million, below the $600.9 million estimate.Zillow expects 2025 revenue growth in the low to mid-teens, along with continued Adjusted EBITDA margin expansion and full-year GAAP profitability.So ...

Zillow Group (Z -11.67%) (ZG -12.83%) stock tumbled 13.1% through 10:20 a.m. ET Wednesday, despite beating Wall Street sales forecasts in its earnings release last night.Heading into the quarter, analysts forecast Zillow would collect $546.7 million in sales for its fourth quarter of 2024. In fact, Zillow reported revenue of $554 million. Zillow Group Q4 earningsThis was a pleasant surprise, and not only to analysts. Zillow noted that it, too, was surprised by its sales strength, which grew 17% year over ye ...

Financial Data and Key Metrics Changes - In Q4 2024, Zillow reported total revenue of $554 million, a 17% increase year-over-year, exceeding the outlook range [12][41] - For the full year 2024, revenue grew 15% year-over-year to $2.2 billion, outperforming the housing market growth of 6% [13][51] - The company achieved an EBITDA margin expansion of 200 basis points, reaching 22% for the full year 2024 [52][61] Business Line Data and Key Metrics Changes - For Sale revenue in Q4 increased by 15% year-over-year to $428 million, with residential revenue growing 11% to $387 million and mortgages revenue surging 86% to $41 million [43][45] - Rentals revenue grew 25% year-over-year in Q4 to $116 million, driven primarily by a 41% increase in multifamily revenue [46][47] - The number of multifamily properties listed on Zillow increased to 50,000, up from 37,000 at the end of 2023 [37][46] Market Data and Key Metrics Changes - The broader residential real estate industry grew 13% year-over-year in Q4, while Zillow's revenue growth outperformed the market by approximately 1,000 basis points [41][110] - Zillow's active rental listings reached 1.9 million, a 15% increase year-over-year, solidifying its position as the leading consumer rentals audience [34][47] Company Strategy and Development Direction - Zillow is focused on executing its housing super app strategy, aiming for sustainable, profitable growth and a target of $5 billion in revenue with a 45% EBITDA margin in a normalized housing market [14][67] - The company plans to expand its Enhanced Market experience from 21% of connections to over 35% by the end of 2025, with a long-term goal of 75% [30][59] - Zillow aims to increase its share of customer transactions in the For Sale category, currently at a single-digit percentage, by enhancing user experience and integrating services [18][25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving positive GAAP net income for the full year 2025, driven by revenue growth and disciplined cost management [94][64] - The company anticipates a subdued housing market in 2025, expecting industry growth in the low to mid-single digits [59][60] - Management highlighted the importance of AI in enhancing operational efficiency and improving customer service [99][100] Other Important Information - Zillow's cash and investments at the end of Q4 were $1.9 billion, down from $2.2 billion, primarily due to the settlement of convertible debt [49] - The company has repurchased nearly $2 billion of shares since 2021, indicating a strong capital management strategy [68] Q&A Session Summary Question: Enhanced Markets and Strategic Rationale with Redfin - Management discussed the path to achieving 75% of connections in Enhanced Markets, emphasizing the importance of scaling partnerships and integration with loan officers [76][77] - The partnership with Redfin involves a $100 million upfront payment and aims to enhance the rental marketplace by providing greater access to multifamily listings [81][84] Question: 2025 Outlook for GAAP Net Income - Management confirmed the target for GAAP profitability in 2025, focusing on outperforming the housing market and maintaining a flat fixed cost base [93][94] Question: Cost Structure and Headcount Levels - Management expressed confidence in keeping headcount growth modest while leveraging fixed costs to expand margins [120][121] Question: Agent Behavior and Adoption of New Solutions - Management reported strong support from agent partners for new solutions, indicating a positive environment for accelerating the rollout of Enhanced Markets [126]