WinHealth International Holding Group Company Limited 維健國際控股集團有限公司 (the "Company") (A company incorporated in the British Virgin Islands with limited liability) WARNING The publication of this Application Proof is required by The Stock Exchange of Hong Kong Limited (the "Stock Exchange")/the Securities and Futures Commission (the "Commission") solely for the purpose of providing information to the public in Hong Kong. The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no ...

Core Insights - Recursion Pharmaceuticals (RXRX) reported a narrower loss of $0.36 per share in Q3 2025, compared to the expected loss of $0.38 and a loss of $0.34 in the same quarter last year [1][7] - Total revenues for the quarter were $5.2 million, significantly down from the previous year, missing the consensus estimate of $17 million due to the timing of a $30 million milestone payment from Roche recognized in the prior year [2][7] Financial Performance - Research and development (R&D) expenses increased by 62% to $121.1 million from $74.6 million year-over-year, driven by increased in-process R&D purchases related to REC-102 and the business combination with Exscientia [4] - General and administrative (G&A) expenses rose by 10% to $41.6 million, influenced by the inclusion of G&A expenses from the Exscientia merger [5] - The cost of revenues increased by 22% to $14.7 million in the reported quarter [5] - As of September 30, 2025, the company had cash and equivalents totaling $667.1 million, up from $533.8 million as of June 30, 2025, which is expected to sustain operations through the end of 2027 [6] Pipeline Developments - RXRX earned a second $30 million milestone from Roche for a novel phenomap of microglial cells, with a portion expected to be recognized as revenue in Q4 2025 [9] - The company discontinued three key drug candidates in May 2025 as part of a strategic pipeline reprioritization, focusing instead on more promising candidates like REC-4881, which is in a phase Ib/II study [10][11] - REC-1245 is undergoing a phase I/II DAHLIA study for biomarker-enriched solid tumors and lymphoma, with data readout expected in the first half of 2026 [12] - REC-102, a new candidate for hypophosphatasia, is anticipated to enter phase I studies by late 2026 [13][14]

Financial Data and Key Metrics Changes - Total revenue increased by 11% in the first nine months of 2025, driven by strong demand for innovative medicines [6][11] - Core EPS rose by 15%, reflecting robust underlying business momentum [14] - Product sales grew by 9%, while alliance revenue surged by 41% [11][12] - Core gross margin was reported at 83%, with expectations of a slight decrease for the full year due to various factors [12][15] - Operating cash flow increased by 37% to $12.2 billion [14] Business Line Data and Key Metrics Changes - Oncology franchise revenue grew by 16%, with TAGRISSO sales reaching $1.9 billion, marking a 10% increase [17][18] - Biopharmaceuticals revenue rose by 8%, with significant growth in newer medicines offsetting losses from mature brands [7][31] - Rare disease medicines grew by 6%, with Ultomiris and Strensiq showing strong demand [40][41] Market Data and Key Metrics Changes - U.S. revenues increased by 11%, while emerging markets outside of China saw a 21% growth [7] - The U.S. is projected to account for around 50% of total revenue by 2030 [9] - China experienced strong growth throughout the year, although fourth-quarter revenues are expected to be impacted by specific costs [15][16] Company Strategy and Development Direction - The company aims for an $80 billion revenue target by 2030, supported by a rich pipeline of upcoming product launches and regulatory approvals [8][45] - AstraZeneca is expanding its global manufacturing capacity and enhancing its clinical trial footprint in the U.S. [9][10] - The company is focusing on advancing novel therapies into earlier-stage diseases to improve patient outcomes [29][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the agreement with the U.S. government regarding pricing and innovation sustainability [49] - The company anticipates continued strong revenue momentum in growth brands, despite potential headwinds from product exclusivity losses [15][52] - Management highlighted a unique catalyst-rich period extending through 2026, with significant revenue opportunities from upcoming readouts [45][46] Other Important Information - The company has achieved 31 regulatory approvals across key regions in 2025 [6] - A new facility in Virginia has been established to support manufacturing capacity [10] - The company is harmonizing its listing structure across major stock exchanges to enhance capital access [10] Q&A Session Summary Question: What is the risk of residual activity from the administration regarding pricing? - Management indicated that they have addressed key points in the president's letter and do not expect further issues, expressing confidence in the agreement with the U.S. government [49] Question: Is the $10 billion catalyst potential part of the $80 billion target? - Management clarified that the $10 billion is a peak-year revenue number and contributes to the $80 billion target, with additional readouts expected to add further revenue potential [50] Question: What is the comfort level regarding 2026 margin consensus? - Management noted that while there are pushes and pulls affecting the 2026 margin, they remain committed to investing in growth brands and maintaining strong operating leverage [52][53] Question: Can you discuss the potential impact of the CARDIO-TTRansform study? - Management expressed optimism that the study could meaningfully reshape treatment guidelines for patients with ATTR amyloidosis [62] Question: What are the competitive profiles for the obesity portfolio? - Management is advancing multiple molecules in the weight management portfolio and is focused on developing competitive treatment options [68]

Core Insights - Aligos Therapeutics, Inc. reported significant progress in its clinical trials and financial results for Q3 2025, focusing on therapies for liver and viral diseases [1][2]. Recent Business Progress - The Phase 2 B-SUPREME study of pevifoscorvir sodium (pevy) is progressing well, with enrollment across multiple countries including the U.S., China, Hong Kong, and Canada, with interim readouts expected in 2026 [2][7]. - The company is optimistic about the potential of pevifoscorvir sodium as a treatment for chronic hepatitis B virus (HBV) infection and is also advancing its pipeline, including ALG-055009 for obesity and MASH [3][4]. Financial Results for Q3 2025 - Cash, cash equivalents, and investments totaled $99.1 million as of September 30, 2025, up from $56.9 million at the end of 2024, providing sufficient funding for operations into Q3 2026 [5]. - The net loss for Q3 2025 was $31.5 million, or $(3.04) per share, compared to a net loss of $19.3 million, or $(3.07) per share, in Q3 2024 [6][16]. Research and Development Expenses - R&D expenses for Q3 2025 were $23.9 million, an increase from $16.8 million in the same period of 2024, primarily due to costs associated with the pevifoscorvir sodium Phase 2a clinical trial [8]. - General and administrative expenses rose to $5.2 million in Q3 2025 from $4.6 million in Q3 2024, mainly due to increased legal and related expenses [9]. Other Financial Metrics - Interest and other income remained stable at $1.1 million for both Q3 2025 and Q3 2024, while the change in fair value of common warrants resulted in a loss of $4.2 million in Q3 2025, compared to a loss of $0.1 million in Q3 2024 [10][16].

November 6, 2025 Q3 2025 Results Clinical Trial Appendix Disclosures Certain statements contained in this presentation and in any accompanying oral presentation, other than statements of fact that are independently verifiable at the date hereof, may constitute forward-looking statements. Examples of such forward-looking statements include statements regarding BeOne's research, discovery, pre-clinical and clinical programs and plans. Actual results may differ materially from those indicated in the forward- l ...

Core Insights - Lexicon Pharmaceuticals has made significant progress in its R&D initiatives and operational strategies, positioning itself for a pivotal year in 2026 [3][4]. R&D and Pipeline Highlights - Pilavapadin (LX9211) is being developed for Diabetic Peripheral Neuropathic Pain (DPNP) and has shown a two-point reduction in average daily pain scores in a Phase 2b study [7]. - All IND-enabling studies for LX9851, a drug for obesity, have been completed and submitted to Novo Nordisk, with potential milestone payments of up to $1 billion [5][7]. - The SONATA-HCM Phase 3 study of sotagliflozin is on track for enrollment completion by 2026, with 130 sites initiated across 20 countries [14]. Financial Performance - Total revenues for Q3 2025 increased to $14.2 million from $1.8 million in Q3 2024, primarily driven by licensing revenue from Novo Nordisk [9]. - R&D expenses decreased to $18.8 million in Q3 2025 from $25.8 million in Q3 2024, reflecting lower external research costs [10]. - SG&A expenses significantly decreased to $7.6 million in Q3 2025 from $39.6 million in Q3 2024 due to strategic repositioning [11]. Net Loss and Cash Position - The net loss for Q3 2025 was $12.8 million, or $0.04 per share, a reduction from a net loss of $64.8 million, or $0.18 per share, in Q3 2024 [12]. - As of September 30, 2025, Lexicon had $145.0 million in cash and investments, down from $238.0 million at the end of 2024 [13].

Novo Nordisk A/S ( NVO ) has once again lowered its 2025 outlook . That marks the fourth forecast cut this year as the stock continues to slowly decline. Shares are down 42% year to date. It seemsI hold a Master’s degree in Cell Biology and began my career working for several years as a lab technician in a drug discovery clinic, where I gained extensive hands-on experience in cell culture, assay development, and therapeutic research. That scientific foundation gave me an appreciation for the rigor and chall ...

Core Insights - Hims & Hers Health, Inc. (HIMS) reported a GAAP EPS of $0.06 for Q3 2025, which was $0.04 below estimates [1] - The company's revenue for Q3 2025 reached $598.98 million, exceeding expectations by $19.13 million, representing a 49% increase compared to the same period last year [1] - For Q4 2025, the company has provided guidance, although specific figures were not disclosed in the provided text [1]

Summary of Belite Bio Conference Call Company Overview - **Company**: Belite Bio - **Ticker Symbol**: BLTE (NASDAQ) - **Focus**: Development of therapeutics for Stargardt disease and age-related macular degeneration (AMD) Key Points Industry and Market Opportunity - **Stargardt Disease**: Most common inherited retinal dystrophy, affecting approximately 1 in 8,800 people, with an estimated 53,000 cases in the US and a larger population in China [9][10] - **Geographic Atrophy (GA)**: Advanced form of dry AMD, with around 1 million patients in the US [11] - **Market Gap**: No FDA-approved treatments for Stargardt disease and no orally approved treatments for GA [7] Drug Development - **Drug Name**: Timlerapat (also referred to as teleribat) - **Mechanism**: Designed to reduce toxic byproducts of vitamin A implicated in disease progression by binding to retinal binding protein 4 [7][18] - **Phase 3 Trials**: - **Dragon Study**: Completed with 104 subjects aged 12-20, focusing on Stargardt disease; top-line data expected in 3-4 weeks [5][39] - **PHOENIX Study**: Ongoing phase 3 study for GA with 530 subjects enrolled [6][55] Clinical Data and Efficacy - **Phase 2 Study Results**: Showed a 50% reduction in lesion growth in treated subjects compared to natural history data [37][38] - **Interim Analysis of Dragon Study**: Indicated a statistically significant treatment effect, leading to breakthrough therapy designation from the FDA [43] - **Safety Profile**: Withdrawal rate less than 10%, with ocular adverse events at less than 4% [44] Drug Design and Advantages - **Advantages of Timlerapat**: - Purpose-built antagonist of retinal binding protein 4, with improved bioavailability and potency compared to previous drugs like phenretinide [31][30] - Designed to be taken without regard to food, addressing compliance issues seen in earlier studies [30] Adverse Events - **Common Adverse Events**: - Xanthopsia (color perception changes) and delayed dark adaptation, both mild and transient [46][48] - No significant systemic adverse events reported, except for mild acne in some subjects [50] Future Outlook - **Positive Expectations**: Success in the Dragon study is expected to predict similar outcomes in the Dragon 2 and PHOENIX trials, reducing risk for investors [55] Conclusion Belite Bio is advancing its drug timlerapat through critical phase 3 trials for Stargardt disease and geographic atrophy, addressing significant unmet medical needs in the ophthalmology space. The company has demonstrated promising clinical data and a favorable safety profile, positioning itself for potential regulatory approval and market entry.

Core Insights - Belite Bio, Inc. has received acceptance from the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) for a Conditional Marketing Authorization application for Tinlarebant, aimed at treating Stargardt disease based on interim analysis results from the Phase 3 DRAGON trial [1][3][8] Company Overview - Belite Bio is a clinical-stage drug development company focused on novel therapeutics for degenerative retinal diseases with significant unmet medical needs, including Stargardt disease and geographic atrophy in advanced dry age-related macular degeneration [6] - The lead candidate, Tinlarebant, is an oral therapy designed to reduce the accumulation of vitamin A-based toxins in the eye, which are implicated in retinal diseases [5][6] Clinical Trial Details - The Phase 3 DRAGON trial is a randomized, double-masked, placebo-controlled study evaluating the safety and efficacy of Tinlarebant in 104 adolescent patients with Stargardt disease across 11 jurisdictions [4] - The primary efficacy endpoint of the trial is the growth rate of atrophic lesions, alongside safety and tolerability assessments [4] Regulatory Progress - The interim analysis results from the DRAGON trial met the criteria for the Conditional Marketing Authorization application, with final topline data expected to be reported in Q4 2025 [3][8] - The company is optimistic about the global submissions and potential approvals based on consistent feedback from major regulatory agencies [2]