Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for being a forward-looking technology adopter, utilizing decades of expertise and experience among its content creators [4] - The company employs automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for being a forward-looking technology adopter, utilizing decades of expertise and experience among its content creators [4] - The company employs automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates with a team of experienced and qualified news journalists, ensuring independent content production [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The news team delivers insights across various sectors, including biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced and qualified news journalists who produce independent content [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered includes insights across various sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for being a forward-looking technology adopter, utilizing decades of expertise and experience among its content creators [4] - The company employs automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]

Company Overview - Proactive is a financial news publisher that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company has a team of experienced news journalists who produce independent content across various financial markets [2] Market Focus - Proactive specializes in medium and small-cap markets while also covering blue-chip companies, commodities, and broader investment stories [3] - The content delivered includes insights into sectors such as biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Adoption - Proactive is recognized for its forward-looking approach and enthusiastic adoption of technology to enhance workflows [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all content is edited and authored by humans [5]

Group 1: Market Overview - Equity markets are currently suggested to be overvalued, with the S&P 500 Shiller CAPE ratio near multi-year highs [1] - In this environment, it is advisable to seek out undervalued stocks with strong growth prospects [1] Group 2: Pfizer - Pfizer's shares have significantly declined since reaching all-time highs in late 2021, attributed to subpar financial results in recent years [2] - Currently, Pfizer is trading at 9 times forward earnings, compared to the healthcare sector average of 18.5 times, making its shares appear attractive [2] - The company plans to initiate over a dozen phase 3 studies this year, with a modest 50% success rate potentially leading to lucrative new product launches [3] - Pfizer is focusing on oncology and weight loss markets, with promising candidates in its pipeline, including PF'4404 for cancer and a mid-stage weight loss candidate showing strong efficacy [4] - Although Pfizer's recovery may take time, it is considered a good buying opportunity for long-term investors [5] Group 3: Novo Nordisk - Novo Nordisk has lost its leading position in the weight loss market to Eli Lilly and faces increasing competition from other biotechs and pharma companies [6] - The company's sales are expected to decline in 2026, contributing to its recent stock underperformance [6] - Despite these challenges, Novo Nordisk's shares are currently trading at 10.5 times forward earnings, making them attractive for investors [6]

Financial Data and Key Metrics Changes - As of December 31, 2025, the company reported cash and investments of $301.8 million, indicating a strong financial position to support ongoing clinical programs [23] - The funds expended in 2025 were primarily directed towards the advancement of the HCV Phase III program and discovery efforts for HEV [23] - R&D expenses increased in 2025 compared to 2024, driven by external spending for HCV clinical development, while G&A expenses decreased due to lower stock-based compensation [24] Business Line Data and Key Metrics Changes - The global Phase III HCV program is on track, with enrollment completed for the North American trial C-BEYOND and expected completion for C-FORWARD by midyear [7][12] - The company anticipates top-line results for C-BEYOND by midyear and for C-FORWARD by year-end [7][26] - The HEV program is positioned as a strategic expansion, with AT-587 selected as the lead product candidate, aiming to address a significant unmet need in immunocompromised patients [20][21] Market Data and Key Metrics Changes - In the U.S., approximately 160,000 new chronic HCV infections are reported annually, with only 85,000 patients treated, highlighting a significant treatment gap [8][16] - The incidence of chronic Hepatitis C infections in the U.S. has nearly doubled from 2.5 million in 2015 to approximately 4 million today [8] - The unmet need for HEV treatment represents a market opportunity estimated between $750 million and $1 billion per year [20] Company Strategy and Development Direction - The company is focused on delivering a differentiated and optimized therapy for HCV, with a regimen designed to fit into the test and treat model of care [5][26] - The commercial strategy includes a user-friendly blister card for adherence and a projected profitability shortly post-launch [17] - The HEV program represents a strategic expansion of the antiviral pipeline, addressing a major unmet need for patients with chronic HEV [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving enrollment targets for both C-BEYOND and C-FORWARD, indicating a robust clinical development strategy [29] - The company anticipates a pivotal year in 2026, with key milestones expected from both the HCV and HEV programs [26] - Management highlighted the importance of the treatment duration and the regimen's profile in influencing prescriber preferences and market uptake [41] Other Important Information - The company returned $25 million to stockholders through a share repurchase program in 2025, reflecting a commitment to shareholder value [24] - The company is preparing for a commercial launch of its HCV product, with a focus on a concentrated prescriber base [17] Q&A Session Summary Question: Does achieving enrollment targets for C-BEYOND increase confidence in C-FORWARD? - Management confirmed that cirrhotic enrollment has not been an issue and they expect to achieve overall targets for both trials [29] Question: Can you discuss the commercial landscape and pricing evolution for HCV? - Management indicated that the distribution market is well understood, and preliminary research shows payers are interested in including the new regimen in formularies [33][34] Question: How does the primary endpoint analysis for C-BEYOND affect the regimen's effect size? - Management noted that the modified intent-to-treat analysis allows for flexibility in dosing, which could enhance the regimen's perceived efficacy [37][38]

Financial Data and Key Metrics Changes - As of December 31, 2025, the company reported cash and investments of $301.8 million, indicating a strong financial position to support ongoing clinical programs [22] - The funds expended in 2025 were primarily directed towards the advancement of the HCV Phase 3 program and discovery efforts for HEV treatment [22] - R&D expenses increased in 2025 compared to 2024, driven by external spending on HCV clinical development, while G&A expenses decreased due to lower stock-based compensation [23] Business Line Data and Key Metrics Changes - The global Phase 3 HCV program is on track, with enrollment completed for the North American trial C-BEYOND and expected completion for C-FORWARD by midyear [7][12] - The company anticipates top-line results for C-BEYOND by midyear and for C-FORWARD by year-end [7][25] - The HEV program is positioned as a strategic expansion, with AT-587 selected as the lead product candidate, aiming to address a significant unmet need in immunocompromised patients [20][26] Market Data and Key Metrics Changes - In the U.S., approximately 160,000 new chronic HCV infections are reported annually, with only 85,000 patients treated, highlighting a significant treatment gap [8][15] - The incidence of liver cancer, primarily caused by Hepatitis C, is projected to increase by over 50% within the next five years [9] - The unmet need for chronic HEV treatment represents a market opportunity estimated between $750 million and $1 billion per year [20] Company Strategy and Development Direction - The company is focused on delivering a differentiated and optimized therapy for HCV, with a regimen designed to fit the test and treat model of care [5][25] - The commercial strategy includes a user-friendly blister card for adherence and a projected profitability shortly after launch [16] - The HEV program represents a strategic expansion of the antiviral pipeline, addressing a major unmet need for patients with no approved treatment available [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving enrollment targets for both C-BEYOND and C-FORWARD, indicating a robust clinical program [28] - The company anticipates a pivotal year in 2026, with key milestones expected from both HCV and HEV programs [25][26] - The management highlighted the importance of treatment duration and low risk of drug-drug interactions as key factors influencing prescriber preferences [40] Other Important Information - The company returned $25 million to stockholders through a share repurchase program in 2025, reflecting a commitment to drive shareholder value [22] - The company is preparing for a commercial launch while maintaining financial discipline and focusing on value-creating advancements [24] Q&A Session Summary Question: Does achieving enrollment targets for the cirrhotic population for C-BEYOND increase confidence in C-FORWARD? - Management confirmed that cirrhotic enrollment has not been an issue and they are confident in achieving overall targets for both trials [28] Question: Can you discuss the commercial landscape and pricing evolution for HCV? - Management explained that the specialty market for DAAs is well understood, and preliminary research indicates payers are interested in including the new regimen in formularies, with stable pricing trends observed [31][32][33] Question: How does the primary endpoint analysis for C-BEYOND affect the regimen's effect size? - Management indicated that the modified intent-to-treat analysis allows for flexibility in dosing, and they are optimistic about the regimen's potential based on phase 2 data [36][37] Question: Can you elaborate on the Merck license agreement? - Management confirmed the in-licensing of ruprezvir, with milestone payments and royalties due upon successful commercialization, expected in 2027 [44]

Mirxes Holding Company Limited （ 於 開 曼 群 島 註 冊 成 立 的 有 限 責 任 公 司 ） （股份代號：2629） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不就因本公告全部或任何部分內容而產生或依 賴該等內容而引致的任何損失承擔任何責任。 自願性公告 中標2026年濂溪區胃癌篩查和早期干預項目 本公告乃由Mirxes Holding Company Limited（「本公司」，連同其附屬公司統稱「本 集團」）自願刊發，旨在知會本公司股東及潛在投資者有關本集團的最新業務 發展。 2026年濂溪區胃癌篩查和早期干預項目 本公司董事（「董事」）會（「董事會」）宣佈，於2026年3月3日，本公司成功中標 2026年濂溪區胃癌篩查和早期干預項目（「該項目」），這是本公司首個公共衛生 癌症早篩項目，也是其在中國首個政府採購項目，標誌著其miRNA液體活檢技 術正式進入公共衛生體系，為胃癌早篩規模化落地奠定關鍵基礎。 該項目預算金額人民幣810.0萬元，最高投標價人民幣769.5萬元，將為中國江 西九 ...

Company Overview - Proactive is a financial news and online broadcast organization that provides fast, accessible, informative, and actionable business and finance news content to a global investment audience [2] - The company operates across six offices on three continents, including key financial hubs such as London, New York, Toronto, Vancouver, Sydney, and Perth [2] Content Production - Proactive's editorial team produces approximately 50,000 pieces of real-time news, feature articles, and filmed interviews annually [1] - The content covers a wide range of topics, including medium and small-cap markets, blue-chip companies, commodities, biotech and pharma, mining and natural resources, battery metals, oil and gas, crypto, and emerging digital and EV technologies [3] Technology Utilization - Proactive is committed to adopting technology to enhance its content creation and workflow processes [4] - The company utilizes automation and software tools, including generative AI, while ensuring that all published content is edited and authored by humans [5]