Core Insights - Neogen Corp. reported better-than-expected second-quarter financial results, with adjusted earnings of 10 cents per share, surpassing the consensus estimate of 6 cents [1] - Sales for the second quarter were $224.69 million, a decrease of 2.8% year over year, but exceeded the consensus of $207.85 million, with core revenue increasing by 2.9% [1] Financial Performance - Gross margin for the second quarter was 47.5%, down from 49.0% a year ago, primarily due to tariff costs, inventory write-offs, and a negative impact from product mix [3] - Adjusted EBITDA was $48.7 million, with a margin of 21.7%, compared to $51.4 million and a margin of 22.2% in the prior-year period [3] Segment Performance - The Food Safety segment generated revenue of $165.6 million, reflecting a 0.8% year-over-year increase, driven by growth in Indicator Testing and Culture Media [4] - The Animal Safety segment reported revenue of $59.1 million, a decline of 11.8%, impacted by lower sales of needles and syringes in the Veterinary Instruments & Disposables category [5] Outlook - Neogen raised its fiscal 2026 sales guidance from $820 million-$840 million to $845 million-$855 million, exceeding the consensus of $823.30 million [6] - The company expects adjusted EBITDA to be approximately $175 million, compared to the prior range of $165 million to $175 million [6] - Capital expenditures are expected to total approximately $50 million [6] Market Reaction - Neogen shares rose by 29.34% to $9.54 at the time of publication [7]

Core Viewpoint - Elicio Therapeutics is initiating a Phase 1 investigator-initiated trial to evaluate ELI-002 7P in combination with chemotherapy and an anti-PD1 checkpoint inhibitor for treating borderline and resectable pancreatic ductal adenocarcinoma (PDAC) [1][2][4] Company Overview - Elicio Therapeutics is a clinical-stage biotechnology company focused on developing novel immunotherapies for cancer, particularly targeting high-prevalence cancers like mKRAS-positive pancreatic and colorectal cancers [11] - The company's lead product candidate, ELI-002, is an investigational AMP cancer vaccine targeting KRAS mutations, which are prevalent in many human cancers [5][11] Trial Details - The upcoming trial will evaluate mFOLFIRINOX in combination with ELI-002 7P, with or without the anti-PD-1 antibody, enrolling 20 patients across two cohorts [2][8] - The trial is expected to commence in the first half of 2026 [2][8] Scientific Rationale - The combination of standard neoadjuvant chemotherapy with innovative immunotherapies aims to convert "cold" tumors into "hot" tumors, enhancing T-cell responses and potentially improving surgical outcomes and long-term survival [3][4] - ELI-002 7P has shown robust T-cell responses in previous trials, targeting the immunosuppressive tumor microenvironment of PDAC [3][4] Future Prospects - If Phase 1 results are positive, the company plans to expand the treatment to a broader population, potentially benefiting more PDAC patients and enhancing commercial opportunities [4][11] - Elicio's AMP technology aims to improve immune activation and promote durable cancer immunosurveillance, with plans to expand ELI-002 to other indications, including mKRAS-positive lung cancer [11]