Good morning one and all. I'm here to talk about my needs makeover. Let me begin with my own story.13 years of my career teaching anatomy in a medical college. No growth, no promotion, no appreciation. I felt completely stuck.In some weak moments, I started feeling myself as a failure. This is not the first time I associated with the term failure. It's all started with one deep negative seed that got rooted in my mind.When I was studying postgraduation, my mother took me to an astrologer. She was worried ab ...

Technological Advancements & Performance - Neuralink study has expanded to 9 participants, with further growth anticipated [2] - The Neuralink chip demonstrates improvements in speed, stability, and model responsiveness, reducing the need for frequent recalibration [4] - Calibration time is trending towards negligible, indicating progress towards a true plug-and-play brain-computer interface [4] - User consistently uses the implant for more than 10 hours a day [10] Future Applications & Development - Neuralink is exploring applications beyond cursor control, including smart home systems, robotic limbs, and communication tools [6] - Future research may focus on using the implant for input, such as regulating mood, managing pain, helping with memory, and restoring senses [7][8] - Improvements have been made to the charger for increased reliability and user-friendliness [9] - Data collection has become smoother, leading to better performance and outcomes [9] User Impact & Potential - The technology aims to restore dignity, independence, freedom, purpose, and hope for users [16] - Neuralink enables user to write speeches, email clients, study topics, and run a business [12]

Summary of AbbVie Conference Call Company Overview - **Company**: AbbVie - **Key Executives Present**: Rob Michael (CEO), Jeff Stewart (Chief Commercial Officer), Rupal Thakkar (Chief Scientific Officer), Scott Rents (CFO) [1] Financial Performance - **Sales Growth**: AbbVie reported a 22% sales growth from its ex-Humira platform, with combined sales from SkyRizzy and Renvoke expected to exceed $25 billion this year [2] - **Revenue Guidance**: Full-year revenue guidance raised to $60.5 billion, an increase of $800 million, with adjusted EPS guidance raised by $0.21 to a range of $11.88 to $12.08 [2][14] - **Quarterly Results**: Total net revenues for the quarter were $15.4 billion, reflecting a 6.5% operational growth [13] Product Performance Immunology - **SkyRizzy**: Global sales reached $4.4 billion, up 61.8% operationally, with strong market leadership in psoriasis and IBD [3][4] - **Rinvoc**: Global sales of $2 billion, up 41.2%, with strong uptake in IBD [4][5] - **Humira**: Global sales of $1.1 billion, down 58.2% due to biosimilar competition [5] Neuroscience - **Total Revenues**: Approximately $2.7 billion, up 24% operationally [7] - **Key Products**: - Raylar: Global sales of $900 million, up 16.3% - Botox Therapeutic: Global revenues of $928 million, up 14.2% - QLIPTA: Global sales of $338 million, up 47.2% [7] Oncology - **Total Revenues**: Nearly $1.7 billion, with global sales of Imbruvica at $2.9 billion, reflecting higher persistency rates for existing patients [5][14] Aesthetics - **Total Revenues**: Nearly $1.3 billion, down 8% operationally, impacted by economic challenges [6] - **Botox Cosmetic**: Global revenues of $692 million, with growth rates down [6] Research and Development Highlights - **Pipeline Progress**: Notable approvals include Emerilis for lung cancer and RINVOC for GCA [2][8] - **Innovative Acquisitions**: Acquisition of Capstan Therapeutics for CAR T platform and Gubra for obesity treatment [3][9] - **Alopecia Areata Results**: RINVOC showed significant hair regrowth results, with 54% of patients achieving over 80% scalp coverage [8][9] Strategic Outlook - **Long-term Growth**: AbbVie is well-positioned for growth with a diversified portfolio and plans for further investments in R&D and external innovation [20][21] - **Market Dynamics**: The company is navigating competitive pressures, particularly in the IL-23 class and aesthetics market, while maintaining strong performance in its core therapeutic areas [32] Additional Insights - **Biosimilar Impact**: The transition from Humira to newer products like SkyRizzy and Rinvoc is ongoing, with some patients opting for more efficacious drugs rather than biosimilars [16][17] - **Economic Conditions**: The aesthetics market is facing challenges due to lower consumer sentiment, but AbbVie remains optimistic about long-term growth potential [6][30] Conclusion - AbbVie demonstrated strong financial performance and growth across multiple therapeutic areas, with a robust pipeline and strategic acquisitions supporting its long-term outlook. The company is actively addressing competitive dynamics and economic challenges while positioning itself for future success.

Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $150 million, reflecting a 72% increase year over year and a 24% increase quarter over quarter, driven by strong performance from Ovelity and Sunosi [6][14] - Net loss for the quarter was $48 million, or $0.97 per share, compared to a net loss of $59.4 million, or $1.22 per share in the previous quarter, and $79.3 million, or $1.67 per share in Q2 2024 [17] Business Line Data and Key Metrics Changes - Ovelity generated net product sales of $119.6 million, up 84% year over year and 24% quarter over quarter [14] - Sunosi net product revenues were $30 million, up 35% year over year and 19% quarter over quarter [15] - Zimbravo, launched on June 10, generated net sales of $410,000 for the partial quarter [15] Market Data and Key Metrics Changes - Avelity led the market in total prescriptions (TRx) growth, generating approximately 192,000 prescriptions in Q2, representing 15% quarter over quarter growth and 56% year over year growth [20] - Sunosi prescriptions exceeded 50,000 for the first time, representing 9% sequential growth and approximately 13% growth versus Q2 of last year [21] Company Strategy and Development Direction - The company is focused on advancing its late-stage neuroscience pipeline, with key priorities including AXS-five for Alzheimer's disease agitation and AXS-twelve for narcolepsy [8][10] - The launch of Cymbravo represents a significant milestone, providing new treatment options for migraine patients [7] - The company aims to expand its commercial infrastructure and enhance patient access to its medicines through strategic market access initiatives [19][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the accelerating trajectory of the commercial portfolio and the potential for significant long-term value creation [13] - The company anticipates continued strong commercial execution to drive momentum across its product portfolio in the second half of the year [23] Other Important Information - The company ended Q2 2025 with $300 million in cash and cash equivalents, down from $315.4 million at the end of Q2 2024 [17] - The company is on track to submit the sNDA for AXS-five this quarter and expects to initiate a Phase III trial for AXS-twelve in Q4 [9][10] Q&A Session Summary Question: Payer coverage expansion for Avelity - Management indicated that the coverage expansion represents pull-through from previously announced GPO contracts and expects some acceleration in volume [28][30] Question: Market positioning of AXS-twelve against competitors - Management expressed optimism about AXS-twelve's profile in narcolepsy, highlighting its rapid-acting nature and potential to address significant unmet needs [34][36] Question: Utilization of Cimbravo through sampling - Management reported positive early utilization of sampling programs and patient savings programs, indicating strong initial access [41][43] Question: Revenue recognition for Cimbravo - Management clarified that Q2 revenue recognition was based on initial stocking orders and that they expect to see more data on new patient starts in the coming quarters [46][48] Question: Strategy for AXS-five in Alzheimer's agitation - Management plans to leverage existing sales forces and expand promotional efforts to target geriatric psychiatry and long-term care facilities [54][56] Question: Growth drivers for Avelity - Management noted that GTN remained stable, with growth driven by higher demand and a favorable change in estimates related to liabilities [58][60] Question: Coverage expectations for Sunosi - Management aims to continue expanding coverage for Sunosi, which currently stands at approximately 83% of lives covered across channels [125] Question: Pediatric ADHD study details - Management indicated that the pediatric study will be a standard parallel group design, with confidence based on the efficacy observed in adult trials [110][112]

"Xenon" and the Xenon logo are registered trademarks or trademarks of Xenon Pharmaceuticals Inc. in various jurisdictions. All other trademarks belong to their respective owner. Contacts: Conference Call/Webcast Information: | Date: | Monday, August 11, 2025 | | --- | --- | | Time: | 4:30 pm Eastern Time (1:30 pm Pacific Time) | | Webcast: | Pre-register here | | Dial-In: | (800) 715-9871 toll-free or (646) 307-1963 for international callers | | Conference ID: | 4102397 | A live webcast of the company prese ...

Behavioral Finance & Risk Management - Investment banking security specialists focus on reducing risk in systems, data, and protecting people from threats, but personal ambition requires embracing risk [2][3] - Nobel laureate Daniel Kahneman's work highlights loss aversion, where the pain of losing money is greater than the pleasure of gaining the same amount, deterring investment [3][4] - Experienced traders exhibit reduced activity in the amygdala (fear) and insula (discomfort), engaging the prefrontal cortex (rational thinking) to treat losses as data, not personal threats [5][6] - Overriding fear requires a clear purpose, activating the prefrontal cortex; the "10-10-10 rule" (how will I feel in 10 minutes, 10 months, 10 years?) helps put fear in perspective [9][10] - A strong "why" releases dopamine, rewarding effort, not just outcomes, crucial for mitigating risk in cybersecurity and life [10] Overcoming Fear & Embracing Opportunity - The "why not me" approach shifts perspective, confronting the risk of not growing, rather than succumbing to imposter syndrome [12][13] - Embracing discomfort and learning from "no" leads to adaptation and growth, enabling the development of comprehensive risk management frameworks [14] - The brain is wired to avoid risk, but not regret; great achievements require outthinking the amygdala [15] - When facing "no," individuals should thank their brain for protecting them, then question "But what if I'm wrong?" [15]

Core Insights - Alkermes plc reported strong financial performance in Q2 2025, with significant growth in proprietary product sales and robust profitability [2][6][3] - The company announced positive topline results from the Vibrance-1 study of alixorexton for narcolepsy type 1, marking a key milestone in its development program [2][6] Financial Performance - Total revenues for Q2 2025 were $390.7 million, a decrease from $399.1 million in Q2 2024 [3] - Proprietary net sales increased to $307.2 million in Q2 2025, up from $269.3 million in Q2 2024, representing a growth of 14% [3][7] - Key product sales included VIVITROL® at $121.7 million (up 9% YoY), ARISTADA® at $101.3 million (up 18% YoY), and LYBALVI® at $84.3 million (up 18% YoY) [3][7] Profitability Metrics - GAAP net income for Q2 2025 was $87.1 million, compared to $91.4 million in Q2 2024 [4] - Adjusted EBITDA for Q2 2025 was $126.5 million, down from $135.3 million in Q2 2024 [4][26] - The company maintained a GAAP earnings per share of $0.52 for Q2 2025, slightly down from $0.53 in Q2 2024 [24] Research and Development - R&D expenses for continuing operations were $77.4 million in Q2 2025, an increase from $59.6 million in Q2 2024, reflecting the company's commitment to advancing its pipeline [9] - The company is preparing to initiate a global phase 3 program for alixorexton and will present detailed results from the Vibrance-1 study at the World Sleep Congress [2][6] Balance Sheet Highlights - As of June 30, 2025, Alkermes had cash, cash equivalents, and total investments of $1.05 billion, an increase from $916.2 million at the end of Q1 2025 [10][27] - Total assets reached $2.25 billion, up from $2.06 billion at the end of 2024 [27] Future Outlook - Alkermes reiterated its financial expectations for 2025, indicating confidence in its ongoing operations and product pipeline [11]

Core Insights - AbbVie holds a leadership position in the neuroscience space, with significant products including Botox Therapeutic and Vraylar, contributing to over 17% of the company's first-quarter revenues, which grew 16% year over year [1][10]. Neuroscience Franchise Performance - The neuroscience franchise is estimated to generate $2.5 billion in sales for Q2 2025, reflecting a 15% year-over-year growth, driven by higher sales of Botox Therapeutic and Vraylar, along with market share gains for Ubrelvy and Qulipta [2][10]. - Newly launched Vyalev is expected to contribute modest sales in the U.S., with the majority of its revenue coming from international markets [3][10]. Competitive Landscape - Major competitors in the neuroscience space include Biogen and Johnson & Johnson [5]. - Biogen generates over half of its revenue from neuroscience therapies and markets FDA-approved treatments for Alzheimer's disease and postpartum depression [6]. - Johnson & Johnson's neuroscience portfolio includes leading products like Spravato and Invega Sustenna, with recent acquisitions enhancing its offerings [8]. Valuation and Market Performance - AbbVie shares have outperformed the industry year to date, trading at a price/earnings (P/E) ratio of 14.06, slightly below the industry average of 14.60 [9][12]. - EPS estimates for 2025 have decreased from $12.32 to $11.98, while estimates for 2026 have increased from $14.06 to $14.08 over the past month [13].

[Music] For a long time, I've always thought of as life as a puzzle, but a very special kind of puzzle. A puzzle where we can't see a picture in the box. And why do I say this.So, when we start life, like we're basically just learning new things. We're taking in information from the world. We're seeing the things that we like and the things that we don't like and then we somewhere along the way we come up with our personality or as I would say our way of interacting with the world.So why did I even come up ...

Company Overview - Alkermes plc is a global biopharmaceutical company focused on developing innovative medicines in neuroscience [3] - The company has a portfolio of proprietary commercial products targeting alcohol dependence, opioid dependence, schizophrenia, and bipolar I disorder [3] - Alkermes is headquartered in Ireland, with additional offices in Massachusetts and a manufacturing facility in Ohio [3] Upcoming Financial Event - Alkermes will host a conference call and webcast presentation on July 29, 2025, at 8:00 a.m. ET to discuss its second quarter financial results [1] - The conference call can be accessed by U.S. callers at +1 877 407 2988 and international callers at +1 201 389 0923 [2] - A replay of the webcast will be available approximately two hours after the event on Alkermes' website [2]