港股创新药相关指数备受关注，阶段收益亮眼，成为2025年上半年最靓的仔。 2025年，调整三、四年之久的板块——国产创新药，在出海业务加持下，迎来DeepSeek时刻。 既然登上了全球竞争舞台，那么国产创新药的发展和投资，当然就离不开这些洋词汇： 国产创新药BD收入放量，License-out授权交易金额创新高，试水New-Co合作模式，在ASCO国际会议大放异彩，ADC前沿项目完成FIC突破，加速进入 NDA审批环节…… 这些洋词汇分别意味着什么？我们分门别类，一次性梳理明白。 创新药出海 01 什么BD交易？License-out又是什么？ BD（Business Development），也就是商务拓展； License-out，也就是"对外授权"，属于BD交易的一种重要形式。 "License-out"出海授权模式：国产创新药为了分摊风险和补充现金流，以合作分工的商业模式，把海外的权益用首付款、里程碑、销售分成的方式授权给 跨国药企，在各个阶段获得分成收入。 这种模式在近年来的全球医药市场中逐渐兴起，尤其是在中国创新药领域表现尤为突出。 相比授权给MNC（Multi National Company指 ...

Fabrinet (FN) FY 2025 Conference June 10, 2025 11:00 AM ET Speaker0 Hi, everybody. Welcome. Good morning, good afternoon, depending on where you are. Welcome to the Rosenblatt Age of AI conference, to our June session. I am Mike Genovese, the cloud and communications equipment infrastructure analyst. I'm super happy that you're all joining us today and very pleased to have the management team from Fabrinet. We have Seamus, we have Saba, and we have Garo, CEO, CFO, and head of investor relations. Great to se ...

Fabrinet (FN) FY Conference May 15, 2025 10:00 AM ET Speaker0 Good morning, everyone. I'm Samik Chatterjee, and I cover hardware and networking companies at JP Morgan. For the session here I have with me Fabrinet management. I have the pleasure of hosting Seamus Grady, CEO and Shava Swerha, CFO. Thank you both for coming to the conference. Thank you to the audience as well. Seamus, I'll start you off with a macro question. I'm fully cognizant there's lower visibility in some cases given where Fabrinet sits ...

Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $2,810,000, representing a 121% increase year over year compared to $1,270,000 in Q1 2024 [5][21] - Gross margins normalized to 42.4%, compared to 37% in Q4 2024 and 43.6% in Q3 2024 [5][22] - EBITDA loss narrowed to negative $540,000 from negative $840,000 in the same period last year [6][23] - Net loss for Q1 2025 was $710,000, down from a net loss of $850,000 in Q1 2024 [23] Business Line Data and Key Metrics Changes - Contract manufacturing revenue increased by 58% year over year, driven by demand from existing customers and new partnerships [5] - Consumer branded products revenue surged by 189% year over year, significantly boosted by the addition of Silly George [5] - The company expects continued growth in both contract manufacturing and consumer products, with a robust pipeline for 2025 [8][11] Market Data and Key Metrics Changes - The company is seeing increased interest in U.S.-made gels due to potential tariff impacts, which may enhance competitiveness against imported products [19] - There is a growing market for hydrogel applications, particularly in laser hair removal, with significant interest from major companies [42] Company Strategy and Development Direction - The company plans to expand its product lines, including new offerings for MetaGel and Cancoderm, and is transitioning Silly George into a broader beauty brand [12][13] - The partnership with Stata is progressing well, with plans for additional product launches in 2025 and 2026 [14] - The company is strategically managing cash and R&D to ensure high ROI while pursuing growth opportunities [14] Management's Comments on Operating Environment and Future Outlook - Management remains optimistic about achieving $13,000,000 in revenue and cash flow positivity in 2025 despite external challenges [20] - The company is monitoring tariff situations closely and is prepared to adjust manufacturing strategies if necessary [16][19] - Management expressed confidence in the growth potential of their products and the overall market, despite uncertainties in the broader economic environment [60] Other Important Information - The company has a cash balance of approximately $1,190,000 as of March 31, 2025 [23] - The company has 7,654,537 shares of common stock outstanding as of May 13, 2025 [23] Q&A Session Summary Question: How much revenue was expected from AbbVie, and does the delay affect guidance? - Management indicated that not much revenue was baked in from AbbVie, so the delay should not significantly impact the $13,000,000 projection [25][26] Question: Can you provide details on the product launch with Stata? - The first product is Histosol, a digestive enzyme, with plans for additional digestive enzymes in the future [30] Question: Is there a seasonal improvement expected for Silly George? - Management expects seasonal growth, especially with new product launches planned for Q3 and Q4 [61][62] Question: Will transitioning manufacturing to Texas impact other business lines? - The company has built a new clean room with enough capacity to accommodate potential shifts in manufacturing [35][36] Question: Will the company survive on current cash reserves until EBITDA positive? - Management believes they can manage with current cash reserves until reaching EBITDA positivity [66]

Key Tronic (KTCC) Q3 2025 Earnings Call May 06, 2025 05:00 PM ET Company Participants Anthony Voorhees - EVP of Administration, CFO & TreasurerBrett Larsen - President & CEOBill Dezellem - Founder, President & Chief Investment OfficerGeorge Melas-Kyriazi - PresidentSheldon Grodsky - President Operator Good day, and welcome to the Keytronic Q3 Fiscal Year twenty twenty five Investor Call. Today's conference is being recorded. After the presentation, we will begin the question and answer period. At this time, ...