Cash and cash equivalents totaled €101.1 million as of December 31, 2025Revenues amounted to €65.4 million as of December 31, 2025Ipsen’s strong performance with Iqirvo® in PBC (>$200M net sales in year one) triggered GENFIT’s €17.0 million ($20.0 million) milestone, included in reported revenues, but not yet reflected in the cash positionACLF and CCA programs progressing according to plan Lille (France), Cambridge (Massachusetts, United States), Zurich (Switzerland), February 26, 2026 - GENFIT (Euronext: G ...

Day One Biopharmaceuticals (NasdaqGS:DAWN) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Company ParticipantsBrittany Socha - Equity Research AssociateCharles N. York II - COO and CFOJeremy Bender - CEOJoey Perrone - Senior Vice President of Finance and Investor RelationsLauren Merendino - CCOMichael Vasconcelles - Head of Research and DevelopmentNick Lorusso - Equity Research Vice PresidentPoorna Kannan - Equity Research AssociateConference Call ParticipantsAndres Y. Maldonado - Senior Biotechnology ...

Day One Biopharmaceuticals (NasdaqGS:DAWN) Q4 2025 Earnings call February 24, 2026 04:30 PM ET Speaker8Hello, ladies and gentlemen, and welcome to the Day One Biopharmaceuticals's fourth quarter and full year 2025 financial and operating results conference call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. Please be advised that this conference call is being recorded. I would now like to turn the call over to Joey Perrone, Senior Vice Presid ...

FEBRUARY 2026 Fourth Quarter & Full-Year 2025 Financial Results & Corporate Progress In addition, statements that "we believe" and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based upon information available to us as of the date of this presentation, and although we believe such information forms a reasonable basis for such statements, such information may be limited or incomplete, and our statements should not be read to indicate that we have conducted ...

Core Insights - GENFIT announced a strong commercial performance of Iqirvo® in its first full year, achieving net sales of US$208M, which triggered a US$20M milestone payment from Ipsen ahead of schedule [2][8] - The partnership with Ipsen is highlighted as a key factor in the commercial success, reinforcing GENFIT's financial position and leading to an additional €30M tranche under a royalty-financing agreement with HCRx [2][3] - Ipsen has initiated a Phase 3 clinical trial for Iqirvo® in primary sclerosing cholangitis (PSC), representing a significant market opportunity, with potential for additional milestone payments and royalties for GENFIT [3][8] Financial Performance - Iqirvo® net sales reached US$208M in 2025, with US$88M reported in Q4 2025 [2][8] - The early achievement of the milestone payment is expected to enhance GENFIT's financial flexibility [2] - The company anticipates a landmark year in 2026, with ongoing clinical programs and new data expected [5] Clinical Development - GENFIT is advancing its oncology program, specifically the Phase 1b study of GNS561 in cholangiocarcinoma (CCA), which is progressing as planned with no dose-limiting toxicities reported [4][8] - Recruitment for the next dose-escalation cohort has been completed, with multi-cohort readouts expected by the end of the first half of 2026 [4][8] - The company is also preparing for a Phase 2 study evaluating G1090N in acute on-chronic liver failure (ACLF) patients [5] Company Overview - GENFIT is focused on rare and life-threatening liver diseases, with a strong history in liver disease research and development [7] - The company has a diverse R&D portfolio, including therapies for cholangiocarcinoma, urea cycle disorders, and organic acidemias [9] - GENFIT is headquartered in Lille, France, and is listed on the Euronext regulated market [9]

Core Insights - GENFIT announced a US$20 million milestone payment from Ipsen due to the strong commercial performance of Iqirvo® in its first full year, with net sales reaching US$208 million in 2025, exceeding initial expectations [2][3][8] Financial Performance - Iqirvo® achieved first-year net sales of US$208 million, leading to a milestone payment from Ipsen ahead of schedule, which strengthens GENFIT's financial position [2][8] - An additional €30 million tranche was received under GENFIT's royalty-financing agreement with HCRx, enhancing financial flexibility without dilution [2] Clinical Developments - Ipsen initiated the first global Phase 3 clinical trial for primary sclerosing cholangitis (PSC), addressing a significant unmet medical need, with potential for additional milestone payments and double-digit royalties for GENFIT if approved [3][8] - GENFIT's ongoing Phase 1b study in cholangiocarcinoma (CCA) is progressing as planned, with a new dose-escalation cohort fully enrolled and no dose-limiting toxicities reported [4][8] Future Outlook - The CEO of GENFIT expressed optimism about the commercial trajectory of Iqirvo® and the progress of the GNS561 program, anticipating significant developments in 2026 [5] - GENFIT plans to publish its 4Q25 revenue and cash position on February 26, 2026, indicating a commitment to transparency and ongoing communication with stakeholders [5]

Core Insights - Ipsen reported strong financial results for FY 2025, with total sales reaching €3,675.9 million, an increase of 8.1% as reported and 10.9% at constant exchange rates (CER) compared to FY 2024 [2][4] - The company achieved a core operating income of €1,294.1 million, reflecting a growth of 16.7% and a core operating margin of 35.2%, up by 2.6 percentage points [2][4] - Core consolidated net profit increased by 17.6% to €1,009.1 million, with core earnings per share rising to €12.09, a 17.8% increase [2][4] - Ipsen anticipates continued double-digit sales growth for 2026, projecting total sales growth greater than 13.0% at CER, driven by portfolio acceleration and improved outlook for Somatuline [3][5][6] Financial Performance - Total sales for FY 2025 were €3,675.9 million, with growth driven by Oncology (4.1%), Rare Disease (102.5%), and Neuroscience (9.7%) [4] - Somatuline® sales grew by 4.3%, while other products excluding Somatuline achieved double-digit sales growth of 14.2% [4] - Free cash flow for FY 2025 was €1,000.6 million, a 29.2% increase from the previous year [2] Pipeline and Innovation - Ipsen made significant advancements in its pipeline, including multiple regulatory and clinical milestones, and the acquisition of ImCheck Therapeutics [4][15] - Five major regulatory and clinical milestones are expected in 2026, including full data readout for IPN10200 [4][19] - The company initiated several Phase I oncology studies and expanded its immuno-oncology portfolio with the acquisition of ImCheck Therapeutics [15][14] Regulatory and Clinical Developments - In 2025, Ipsen achieved important regulatory milestones, including the acceptance of tovorafenib for review by the EMA and the approval of Cabometyx for advanced neuroendocrine tumors [9][11] - Positive Phase II data for Iqirvo® and IPN10200 were reported, demonstrating promising efficacy and safety profiles [10][12] Environmental, Social, and Governance (ESG) - Ipsen made progress on its sustainability strategy, achieving a 54% reduction in Scopes 1 & 2 greenhouse gas emissions and sourcing 100% of its global electricity from renewable sources [21][25] - The company received an A rating from CDP for environmental actions and achieved gender parity within its Executive Leadership Team [22]

Group 1 - The total number of shares composing the share capital as of January 31, 2026, is 83,814,526 [1] - The gross total of voting rights is 131,997,884, while the net total of voting rights is 130,585,862 [1][2] - There is a statutory clause that requires the declaration of threshold crossing, in addition to the legal thresholds [1] Group 2 - The gross total includes shares with double voting rights and treasury shares, while the net total excludes shares without voting rights [2]

Core Viewpoint - The company is undergoing a continuous innovation transformation, with multiple innovative pipelines being launched internationally, leading to an upward revision of revenue and profit forecasts for 2026 while maintaining profit forecasts for 2025 and 2027 [1] Group 1: Financial Analysis - The revenue projections for 2025, 2026, and 2027 are adjusted to 76.3 billion, 100.3 billion, and 110.4 billion respectively, up from previous estimates of 76.3 billion, 91.0 billion, and 110.4 billion [1] - The net profit attributable to the parent company for 2025, 2026, and 2027 is revised to 11.5 billion, 16.5 billion, and 16.6 billion respectively, compared to earlier estimates of 11.5 billion, 13.8 billion, and 16.6 billion [1] - The corresponding EPS for 2025, 2026, and 2027 is adjusted to 0.44, 0.64, and 0.64 respectively, up from previous estimates of 0.44, 0.53, and 0.64 [1] Group 2: Product Development - The company received a milestone payment of 40 million USD from AbbVie for SIM0500 on February 3, 2026, following a licensing agreement signed in January 2025 [1] - SIM0500 is a humanized TCE tri-antibody targeting two tumor-associated antigens, showing strong T-cell cytotoxic effects against multiple myeloma cells [2] - The FDA granted SIM0500 a fast track designation for use in patients with multiple myeloma who have received at least three prior lines of therapy and are resistant or intolerant to standard treatments [2] Group 3: Strategic Partnerships - Since 2025, the company has successfully licensed four pipelines internationally, including agreements with AbbVie, NextCure, Ipsen, and Boehringer Ingelheim, with potential total payments reaching up to 10.6 billion USD and 10.16 billion EUR [3] - The partnerships with major multinational corporations (MNCs) validate the company's enhanced innovation capabilities and suggest ongoing opportunities for new business development in the future [3]

Investment Rating - The report indicates a positive outlook for China's biopharma sector, highlighting its transition into a more mature phase characterized by self-sufficiency and innovation [3]. Core Insights - China's biopharma sector is increasingly self-sufficient, supported by domestic funding and innovation, leading to a competitive edge in early-stage asset generation [3]. - The outlicensing market in China is expected to remain active, expanding into new therapeutic areas beyond oncology [3]. - Despite a pullback from non-domestic venture capital, domestic funding is reinforcing a self-reliant ecosystem in China's biopharma landscape [3]. - The report emphasizes that US restrictions may disrupt US biopharma innovation more than they will slow China's progress [3]. Summary by Sections Internal Dynamics of China's Biopharma Landscape - China's biopharma ecosystem is evolving from a generics powerhouse to a leader in next-generation therapeutics, supported by efficient clinical-trial infrastructure [5]. - The number of Investigational New Drug (IND) applications for innovative drugs increased significantly from 688 in 2019 to 2,298 in 2023 [5]. - China has adopted international standards for clinical trials, allowing companies to save 12 to 18 months in trial initiation compared to the US [5]. Global Engagement with China: Cross-Border Trends - China's licensing activity has increased, with a focus on complex biologics rather than legacy modalities [48]. - In 2025, antibodies and antibody-drug conjugates (ADCs) were the most licensed modalities, with significant deal values indicating their strategic importance [50][52]. - The report notes a trend of US and EU biopharma companies establishing centers of excellence in China to leverage local innovation [56][59]. Looking Ahead to 2026: Risks, Opportunities, and Geopolitical Trajectories - The BIOSECURE Act may introduce friction in cross-border collaborations but is primarily focused on downstream execution rather than early-stage asset generation [74]. - Despite potential disruptions, the demand for early-stage assets is expected to remain strong, particularly in precision oncology and cell and gene therapy [71][73]. - The report suggests that China's early-stage asset advantage is likely to persist due to rising US costs and funding constraints [74].