Why now. What is happening in the industry or in government that's creating a sense of urgency to train up the next generation of municipal finance talent. Yeah.Thanks so much for having me to to talk about our our new course. A recent annual survey conducted by Mission Squared, I think points out this pretty squarely. They've surveyed state and local hiring managers, and those individuals say that filling financial operation operations roles is difficult.Furthermore, governments say that succession plannin ...

Core Insights - Roche Holding AG reported sales of CHF 30.9 billion for the first half of 2025, reflecting a 4% year-over-year increase, with a 7% rise at constant exchange rates [1][8] - Core earnings per share reached CHF 11.08, up 12% year-over-year at constant exchange rates [1][8] - The company operates under two divisions: Pharmaceuticals and Diagnostics, with all growth rates mentioned being year-over-year and at constant exchange rates [1] Pharmaceuticals Division - Sales in the Pharmaceuticals Division grew 10% to CHF 24 billion, driven by strong demand for key drugs such as Phesgo, Xolair, Hemlibra, Vabysmo, and Ocrevus [2][8] - The top five growth drivers generated total sales of CHF 10.6 billion, an increase of CHF 1.7 billion at constant exchange rates compared to the first half of 2024 [5][8] - Notable drug performances include Ocrevus with sales of CHF 3.5 billion (up 8%), Hemlibra with CHF 2.4 billion (up 17%), and Vabysmo with CHF 2.1 billion (up 18%) [6][10] Diagnostics Division - The Diagnostics Division's sales remained flat at CHF 7 billion, with strong demand for pathology solutions and blood screening tests offsetting the impact of healthcare pricing reforms in China [2] Market Performance - Roche's shares have increased by 20.4% year-to-date, significantly outperforming the industry growth of 0.9% [3] Financial Performance - Second-quarter 2025 revenues were CHF 15.5 billion, an 8% increase at constant exchange rates, primarily driven by the Pharmaceuticals Division [4] - Core operating profit grew 11%, supported by higher sales and effective cost management [12] Future Outlook - Roche expects total sales to grow in the mid-single-digit range at constant exchange rates for 2025, with core earnings per share anticipated to grow in the high single-digit range [13] - The company plans to increase its dividend in Swiss francs further [13] Pipeline Updates - The European Commission approved Itovebi for advanced breast cancer treatment, while the FDA issued a complete response letter for Columvi [14][15] - Roche is advancing prasinezumab into phase III development for early-stage Parkinson's disease [16] Challenges - The company faces potential sales declines due to loss of exclusivity for key drugs and disappointing performance in the Diagnostics Division [20]

Key Takeaways BMY gained 6.3% in a month, outperforming the industry, sector, and broader market indexes.Newer drugs like Reblozyl, Breyanzi, and Opdualag are helping offset legacy drug patent expirations.Recent pipeline setbacks in Reblozyl, Camzyos, and Cobenfy phase III trials raise investor concerns.Bristol Myers ((BMY) delivered an impressive performance in the past month after being under pressure for quite some time. The stock regained some of its lost ground and added 6.3% in a month compared with t ...

Asset managers Patria and Eaton Vance joined a group of about a dozen banks in financing a $3 billion oil pipeline project which is seen as pivotal for Argentina’s energy industry https://t.co/B44gsZYlmC ...

Last January, Thomas Baker was out with friends at a bar in Charlotte, North Carolina. The last time he had his phone. It was kind of surprising because uh you don't really expect to be pickpocketed in Charlotte.But actually, phone thefts at bars in Charlotte have gotten so bad the police posted this video warning online. I don't think this is a Charlotte issue. I don't think it's a center city issue. I think this is a national issue.Back home, Baker logged into Find My iPhone on his laptop. I started track ...

Financial Data and Key Metrics Changes - FFO per share diluted as adjusted was $2.33 for Q2 2025, up 1.3% compared to the prior quarter [34] - Occupancy at the end of the quarter was at 90.8%, down 90 basis points from the prior quarter [35] - Same property NOI was down 5.4% and up 2% on a cash basis for the quarter [36] Business Line Data and Key Metrics Changes - Approximately 770,000 square feet were leased in Q2 2025 with leasing spreads of 5.5% to 6.1% on a cash basis [25] - Tenant improvements and leasing commissions on renewals were down 40% compared to the previous two quarters [25] - The company leased 131,768 square feet during the quarter, including the first lease signed at 701 Dexter in Seattle [26] Market Data and Key Metrics Changes - Private biotechnology companies represented 30% of overall leasing for the quarter, with nearly $22 billion deployed in the first half of the year [14] - Publicly traded biotechnology companies represented just under one-fourth of leasing for the quarter, with over 95% consisting of new leases [15] - Large pharma represented 5% of leasing for the quarter, buffered from short-term volatility due to significant cash flows [18] Company Strategy and Development Direction - The company is focused on its mega campus platform, which is strategically important for capturing opportunities and supporting talent recruitment [22][24] - The company has a $3 billion investment in various future pipeline projects, with a focus on preconstruction activities [40] - The asset recycling program is expected to be heavily weighted towards the fourth quarter, with significant dispositions planned [30][31] Management's Comments on Operating Environment and Future Outlook - Management expects the Fed to lower interest rates, which is crucial for the capital markets in the industry [7] - There are reasons to be optimistic about the life science sector, with M&A activity and biopharma licensing deals providing positive dynamics [20] - Management noted that fears regarding spending cuts and changes at HHS may be overblown, and onshoring of R&D could provide a tailwind for the life science sector [13] Other Important Information - The company completed the largest lease in its history, a 466,000 square foot lease, demonstrating brand trust and product quality [6][24] - The company has identified 768,000 square feet of lease rolls with a weighted average expiration date of January 21, 2025, with 20% already leased [27] - The company reiterated its guidance for year-end 2025 occupancy at 90.9% to 92.5% [36] Q&A Session Summary Question: Trends or catalysts leading to the Campus Point lease - Management indicated that the lease was driven by a notable big pharma's effort to consolidate its R&D hub rather than onshoring issues [48] Question: Insights on free rent trends - Management noted that free rent did increase slightly this quarter, but it is hard to predict future trends [50] Question: Tenant perspective on build-to-suit versus vacant space - Management explained that large tenants prefer build-to-suit options for their specific needs and the quality of the location [54][56] Question: Occupancy expectations for the remaining portfolio - Management expects a pickup in occupancy as non-stabilized assets are sold and new leases are executed [64] Question: Impact of FDA leadership change on tenant decisions - Management stated that concerns vary by tenant type, with private biotech focused on cash conservation and public biotechs concerned about market health [74][76] Question: Potential for larger capital transactions - Management expressed a preference for owning more of their mega campus assets and is focused on strategic transactions to monetize non-core assets [84][86]

Key Takeaways SRPT is pausing U.S. Elevidys shipments to complete safety labeling changes and respond to FDA requests. The move follows patient deaths linked to ALF in studies using the same AAVrh74 gene therapy vector. SRPT expects significant financial impact in quarters ahead as Elevidys drove over half of its Q1 revenues.Shares of Sarepta Therapeutics (SRPT) are declining in the pre-market hours today after the announcement that it will voluntarily and temporarily halt all U.S. shipments of Elevidys, ...

Idle pipeline, Turkey wants to get it up and running again. What do we understand they're asking out of Iraq. Morning Joumanna.Yes, that's right. You mentioned two things. The first is that under utilisation.So first and foremost, Turkey wants it back up and running. But secondly, when it does, it wants an expanded pipeline agreement. It wants this to cover not just the current crude oil flows, but also electricity and petrochemicals.The latter, I think is interesting because the end point of the pipeline, ...

Key Takeaways SRPT shares fell 35.9% after a third death in its muscular dystrophy gene therapy program from liver failure. FDA placed LGMD studies on hold and urged a halt to Elevidys shipments; SRPT refused, citing safety data. Sarepta will cut 36% of staff and focus on siRNA assets to save $400M annually and stabilize operations.Shares of Sarepta Therapeutics (SRPT) nosedived 35.9% on Friday following the death of a patient dosed with one of its experimental gene therapies.The company confirmed that a ...

Core Insights - Sarepta Therapeutics (SRPT) announced a strategic restructuring plan aimed at pipeline reprioritization and long-term financial sustainability, resulting in a more than 30% surge in shares during after-market trading [1] Cost-Cutting and Workforce Reduction - The restructuring plan is expected to save approximately $400 million annually starting in 2026, with a workforce reduction of 36%, equating to around 500 employees, projected to save nearly $120 million per year [2] - The company anticipates generating around $300 million in annual savings through pipeline reprioritization [2] Pipeline Focus - Sarepta will pause the development of most gene-therapy candidates for limb-girdle muscular dystrophy (LGMD) but will continue with SRP-9003 for LGMD type 2E/R4, with a regulatory filing to the FDA expected before year-end [3] - The focus has shifted to siRNA programs acquired from Arrowhead Pharmaceuticals, including four clinical-stage candidates: SRP-1001 (FSHD), SRP-1002 (IPF), SRP-1003 (DM1), and SRP-1004 (SCA2) [4] - Initial data from studies on SRP-1001 and SRP-1003 is anticipated before year-end, and three preclinical programs, including SRP-1005 for Huntington's disease, are set to enter clinical development early next year [5] Financial Expectations - Sarepta expects to incur severance and one-time charges of $32 million to $37 million but anticipates saving over $100 million in annual costs this year [6] - For full-year 2026, the company projects combined adjusted R&D and SG&A expenses to be in the range of $800-$900 million [6] Stock Performance and Market Sentiment - The restructuring aims to address setbacks from safety concerns surrounding Elevidys, a gene therapy for Duchenne muscular dystrophy (DMD), which has seen Sarepta's shares decline 85% year-to-date compared to a 2% decline in the industry [7] - The stock price surge reflects investor optimism regarding the restructuring plan's potential to stabilize the company's financial profile and growth trajectory [7] Safety Concerns and Regulatory Actions - Elevidys faces a black box warning due to safety issues linked to two patient deaths from acute liver failure in non-ambulatory DMD patients, leading to a suspension of dosing for this group [10] - Sarepta is developing a new protocol with enhanced immunosuppression to improve the safety of Elevidys administration and plans to submit these findings to the FDA [11] Preliminary Financial Results - Sarepta reported preliminary net product revenues of $513 million for Q2 2025, exceeding estimates, with $282 million attributed to Elevidys [13][14] - The preliminary combined adjusted R&D and SG&A expenses for the quarter were around $294 million, with cash and short-term investments totaling approximately $850 million as of June 2025 [14]