As filed with the U.S. Securities and Exchange Commission on February 23, 2026. Registration No. 333-292285 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 ––––––––––––––––––––––––––––––––––––––– Brookline Capital Acquisition Corp II (Exact name of registrant as specified in its charter) ––––––––––––––––––––––––––––––––––––––– | Cayman Islands | 6770 | N/A | | --- | --- | --- | | (State or other jurisdiction of | (Primary Standa ...

Financial Data and Key Metrics Changes - The company achieved high single-digit reported revenue growth and low double-digit adjusted EPS growth in Q4, with sales growing 7% on a reported basis and 6% in constant currency [6][8] - Adjusted EPS grew low double digits to $4.53, while GAAP EPS was $3.77 [8][31] - For the full year, sales grew 7% on both a reported and constant currency basis, with adjusted EPS growing 11% to $13.13 [9][31] Business Line Data and Key Metrics Changes - Recurring revenue grew 9%, driven by chemistry growth, while instruments grew 3%, led by high single-digit LCMS growth [8][30] - Chemistry revenue grew 12% for the full year, contributing to the overall growth [9][31] - Instrument sales grew 5% for the full year, with high single-digit LCMS growth offset by a low single-digit decline in TA system sales [31][32] Market Data and Key Metrics Changes - Pharma revenue grew 9%, with high single-digit growth across Americas and Europe and low double-digit growth in Asia [13][31] - Industrial grew 6%, while academic and government declined 1% [31] - In China, sales grew 9% for the year, driven by strong performance in biotech and CDMOs [14][32] Company Strategy and Development Direction - The company completed the acquisition of BD's Biosciences and Diagnostic Solutions business, aiming to strengthen its position in high-growth adjacencies and enhance operational execution [6][17] - The strategic roadmap laid out five years ago continues to advance, with a focus on innovation and high-volume testing opportunities [7][9] - The company plans to expand its idiosyncratic growth driver framework from three to five drivers, adding biologics and informatics [14][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver strong growth in 2026, with a guidance range of 5.5%-7% for organic constant currency revenue growth [35][36] - The company anticipates approximately $3 billion in revenue contribution from the acquired business in 2026, with a risk-adjusted growth assumption of 2.5% [26][35] - Management highlighted the importance of improving operational execution and pricing discipline to enhance revenue synergies [47][57] Other Important Information - The company expects to realize approximately $55 million of adjusted EBIT from cost synergies in 2026 and $50 million in revenue synergies [23][36] - Free cash flow totaled $677 million for the full year, with a net debt position of $820 million at year-end [34][36] Q&A Session All Questions and Answers Question: Concerns about BD results and recovery path - Management acknowledged several issues that emerged in Q4 impacting growth, emphasizing a focus on improving operational execution and leveraging new product launches for recovery [44][46] Question: Full year guidance and deceleration - Management clarified that the guidance reflects a prudent approach, incorporating potential headwinds and assuming mid-single-digit growth in China [54][55] Question: Synergy targets and operational excellence - Management confirmed a focus on achieving synergy targets through operational improvements and disciplined pricing strategies [66][70]

Revvity (NYSE:RVTY) FY Conference Summary Company Overview - Revvity is a $2.8 billion company, with revenue split roughly equally between life sciences and diagnostics segments [4] - The company has undergone a portfolio transformation, moving from a legacy industrial company to a focus on high-growth life sciences and diagnostics [2][3] Key Financial Metrics - Approximately 85% of revenue is recurring, derived from consumables, assets, services, and software [4] - Life sciences solutions have a five-year average organic growth rate of high single digits and operating margins above 30% [5] - Diagnostics revenue is about $1.4 billion, with a similar growth rate and operating margins around 25% [6] Strategic Initiatives - Revvity aims to be a key player in the drug development lifecycle, providing comprehensive solutions from early discovery to commercialization [9] - The company has launched AI initiatives, including Transcribe AI, which improves workflow speed by 40% for clinical lab customers [10][11] - A partnership with Eli Lilly aims to accelerate AI-enabled drug discovery through the Signals Synthetica platform [11][12] Market Dynamics - The life sciences segment is primarily focused on pharma and biotech, with 75% of customers in these sectors [5] - The diagnostics segment focuses on immunodiagnostics (60% of revenue) and reproductive health (40%) [6] - The company has seen a significant increase in immunodiagnostics revenue from the Americas, which has doubled from 10% to 20% [14] Growth Outlook - For 2026, Revvity expects 2%-3% organic growth, with high single-digit adjusted EPS growth [19][20] - The company anticipates double-digit growth in immunodiagnostics and Signals Software, with mid-single-digit growth in life sciences solutions and reproductive health [20] - The operational excellence initiatives aim for a 28% adjusted operating margin by 2026, with a focus on cost reductions and efficiency improvements [19] Partnerships and Collaborations - Revvity has formed strategic partnerships with Genomics England and Sanofi, focusing on large-scale genomic screening and pediatric disease screening [15][16][46] - The company is exploring opportunities for partnerships in AI and genomics, although specific details are not yet public [54] Challenges and Risks - The company faces headwinds in the Chinese market, particularly in immunodiagnostics, but expects growth to return in the second half of 2026 [50] - The overall market conditions and funding trends in biotech are seen as positive indicators for Revvity's growth [33][58] Conclusion - Revvity is positioned as an innovative life sciences and diagnostics company with a transformed portfolio and a focus on operational excellence, aiming for significant growth and margin expansion in the coming years [21][22]

Summary of Caris Life Sciences FY Conference Call Company Overview - **Company**: Caris Life Sciences (NasdaqGS:CAI) - **Date of Conference**: January 12, 2026 - **Key Speakers**: Brian Brille (Vice Chairman), David Spetzler (President), Luke Power (CFO) Key Points Financial Performance - Caris ended the year with over **$800 million** in cash, reflecting a **5% increase** through the quarter [2][3] - Revenue for Q4 was **$281 million**, representing a **116% year-over-year growth** [16][27] - The average selling price (ASP) for tissue tests increased to **$3,800** from **$3,500** in Q3, while blood tests rose to **$2,500** [34][60] Market Position and Growth Opportunities - The therapy selection business remains a core growth engine with consistent clinical case volumes and increasing pricing [4][15] - Caris completed nearly **200,000 genomic profiles** in the last year, achieving a **22% growth** in case volume [5][15] - The total addressable market (TAM) for therapy selection is large and underpenetrated, with only about **one-third** of patients receiving comprehensive genomic profiling [6][7] Product Development and Pipeline - Caris is focused on multi-cancer early detection (MCED) with promising initial results from the **AchieveOne** study, which is expected to read out by the end of the quarter [16][18] - The company is also launching **Caris ChromaSEQ**, a whole genome and whole transcriptome technology for hematological malignancies, currently under review by MolDX [19][20] - New product **MyClarity** aims to improve recurrence risk assessment for women post-surgery using AI and multimodal data [21][23] Strategic Partnerships - Caris announced a significant partnership with **Genentech**, involving a milestone payment of **$20 million** and a total contract value exceeding **$1 billion** [25] - The partnership aims to leverage Caris's data and technical capabilities to identify new drug targets [25] Commercial Strategy - The company plans to expand its commercial organization by **20%-25%** to enhance market reach and support growth [30][45] - Caris is committed to a patient-first philosophy, focusing on technology and service to cancer centers [10][11] Challenges and Future Outlook - The company acknowledges the need for insurance payers to update their medical policies regarding molecular profiling [29][30] - Caris is optimistic about the growth trajectory for 2026, driven by its technology leadership and product pipeline [15][32] Additional Insights - The market for comprehensive genomic profiling is recognized as the standard of care, with increasing demand for precision oncology programs [7][8] - Caris emphasizes the importance of maximizing biological information for patients, regardless of initial costs [17][19] - The company is focused on maintaining capital efficiency while investing in technology and commercial growth [30][45] This summary encapsulates the key insights and strategic directions discussed during the Caris Life Sciences FY Conference Call, highlighting the company's financial performance, market opportunities, product pipeline, and future outlook.

Core Insights - ClearBridge Investments reported that mid-cap stocks experienced growth in Q3 2025, driven by a favorable monetary policy environment and stabilizing earnings [1] - The Federal Reserve's rate cuts positively impacted small and mid-cap stocks, with value stocks outperforming growth stocks [1] - The ClearBridge Mid Cap Strategy outperformed the Russell Midcap Index, primarily due to stock selection in the consumer staples and healthcare sectors [1] Company-Specific Insights - Bio-Techne Corporation (NASDAQ:TECH) has a market capitalization of $9.57 billion and focuses on life science reagents, instruments, and services [2] - The stock of Bio-Techne Corporation saw a one-month return of -0.32% and a 52-week decline of 15.36%, closing at $61.40 on November 12, 2025 [2] - ClearBridge initiated a new position in Bio-Techne, citing its high-margin consumables and instrumentation portfolio as key factors for its appeal as a growth-oriented investment [3] Financial Performance - In Q1 2026, Bio-Techne Corporation reported revenues of $286.6 million, reflecting a 1% year-over-year decline on both an organic and reported basis [4] - Despite the potential of Bio-Techne as an investment, the company is not among the most popular stocks among hedge funds, with 37 hedge fund portfolios holding its stock at the end of Q2 2025 [4]

Financial Data and Key Metrics Changes - The company generated revenue of $699 million in Q3 2025, resulting in 1% organic growth, with foreign exchange (FX) providing a modest 1% tailwind [24][25] - Adjusted operating margins were 26.1%, down 220 basis points year-over-year but slightly above expectations [25] - Adjusted earnings per share (EPS) for the quarter was $1.18, which was $0.05 above the midpoint of guidance [8][26] - Free cash flow for the quarter was $120 million, representing approximately 90% of adjusted net income [9][26] Business Line Data and Key Metrics Changes - The Signals software business grew 20% organically in the quarter, with annual recurring revenue (ARR) over 40% and a net retention rate of more than 110% [7][30] - The reproductive health business grew in the mid-single digits year-over-year, with newborn screening growing in the high single digits [7][31] - The diagnostics segment generated $356 million in revenue, up 3% on a reported basis and 2% on an organic basis, with immunodiagnostics declining in the low single digits [30] Market Data and Key Metrics Changes - The Americas grew in the low single digits, Europe in the mid-single digits, while Asia declined in the mid-single digits, with China experiencing a low teens decline [29] - Sales to pharma and biotech customers were up low single digits, while sales to academic and government customers declined in the low single digits [29] Company Strategy and Development Direction - The company is focused on disciplined capital deployment, with a new $1 billion share repurchase authorization to replace the existing program [10] - There is an emphasis on AI-driven solutions, with several new AI-focused software offerings launched in the past year [12][13] - The company is optimistic about future performance, anticipating organic growth of 2%-4% for the year and a baseline adjusted operating margin of 28% for 2026 [11][32] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about improving customer confidence and demand trends, particularly in the pharma and biotech sectors [6][10] - The company is cautious about assumptions until there are sustained improvements in broader industry demand trends [10][11] - Management reiterated the importance of maintaining a strong focus on cash flow generation and capital deployment priorities [9][10] Other Important Information - The company reported a 6% reduction in Scope 1 and 2 emissions in 2024 and achieved a 77% employee satisfaction rate [19] - The company received a AAA rating from MSCI, the highest possible rating, reflecting its commitment to sustainability [20] Q&A Session Summary Question: Commentary on 2026 growth expectations - Management indicated a prudent assumption of 2%-3% organic growth for 2026, with signs of increasing activity in the instrument side and confidence in diagnostics performance outside of China [36][37] Question: Insights on life sciences business performance - The life sciences solutions business was in line with expectations, with reagents performing slightly below expectations due to lighter summer months [39][40] Question: Details on customer activity levels - Management noted that increasing customer activity is primarily seen in the pharma biotech sector, particularly in instruments, rather than academia and government [44] Question: Expectations for software business growth - The software business is expected to face challenging comps in 2026, with organic growth anticipated in the mid-single digits, but strong performance metrics such as ARR and net retention rate remain positive [58][60] Question: Insights on China diagnostics - Management confirmed that China diagnostics is expected to continue facing headwinds, with a projected decline of 20%-25% year-over-year due to changes in reimbursement [73][74]

Financial Data and Key Metrics Changes - The company experienced a reset in financials due to headwinds from the UnitedHealthcare decision and NCCN guidelines confusion, leading to a complicated start to the year [6][10] - Q2 was characterized as a step forward, with hereditary cancer and oncology continuing to grow in double digits, while GeneSight saw a recovery to 5% growth after previous challenges [11][12] - The long-range plan (LRP) was set to high singles to low double digits growth, indicating a more cautious outlook compared to previous expectations of over 12% [12][13] Business Line Data and Key Metrics Changes - Hereditary cancer business showed strong growth, particularly on the affected side, while the unaffected side improved faster than anticipated [10][11] - GeneSight's business was reset and saw a return to growth, while the prenatal business faced challenges due to a new management order system rollout, leading to negative volume year over year in Q2 [24][25] - The Polaris business remained stable, with revenue growth year over year, and the partnership with PathomIQ is expected to enhance growth prospects [30][32] Market Data and Key Metrics Changes - The prenatal market is expected to grow in the mid-single digits, with the company aiming to grow above that rate [26] - The company anticipates a stable environment for average selling prices (ASPs) across its portfolio, with Q2 serving as a proof point for this stability [22][23] Company Strategy and Development Direction - The company is focusing on the cancer care continuum as a core area, with a disciplined approach to resource and capital allocation [18][19] - New strategic partnerships, such as with PathomIQ, are being leveraged to enhance product offerings and market presence [19][30] - Execution and urgency are emphasized as critical components for future success, with a commitment to delivering on new product launches [19][49] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in the first quarter but expressed optimism about the recovery trajectory and the execution of the new strategy [10][11] - The company expects to be operating cash flow positive in the back half of the year, with gradual recovery in prenatal volume and continued progress in hereditary cancer volume [42][46] - Management highlighted the importance of new product launches, including an updated myRisk panel and MRD tests, as key drivers for future growth [49] Other Important Information - The company has made significant changes to its executive team, including the appointment of a new CFO and Chief Commercial Officer, to strengthen leadership and execution capabilities [9][10] - The company is addressing operational inefficiencies and aims to grow revenue faster than operating expenses, indicating a focus on sustainable profitable growth [44][45] Q&A Session Summary Question: What is the pricing outlook for hereditary cancer? - Management expressed confidence in the stability of ASPs and noted that Q2 showed positive trends in pricing [21][22] Question: What impact did the new management order system have on prenatal business? - The company acknowledged negative volume due to the rollout but indicated that the issues are now resolved and growth is expected to resume [24][25] Question: How does the partnership with PathomIQ affect the Polaris business? - The partnership is expected to enhance product offerings and improve market perception, contributing to growth in the prostate cancer segment [30][32] Question: What is the company's strategy for MRD? - Management emphasized the size of the MRD market opportunity and the company's strong reputation and access to healthcare systems as key advantages [36][38] Question: What are the expectations for operating cash flow in the second half of the year? - The company anticipates being operating cash flow positive in the back half of the year, with gradual recovery in volumes [46]

Core Insights - Thermo Fisher Scientific reported Q2 2025 results that exceeded revenue and non-GAAP EPS expectations, with revenue of $10.85 billion and non-GAAP EPS of $5.36, compared to estimates of $10.68 billion and $5.23 respectively [1][2] - Revenue increased by 3.0% year-over-year, but operating margins tightened and free cash flow fell sharply, indicating challenges in profitability [1][6] Financial Performance - Non-GAAP EPS was $5.36, slightly down by 0.2% from $5.37 a year ago [2] - GAAP revenue reached $10.85 billion, up from $10.54 billion in Q2 2024, marking a 3.0% increase [2] - GAAP operating margin decreased to 16.9%, while adjusted operating margin fell to 21.9%, both down by 0.4 percentage points from the previous year [2][6] - Free cash flow dropped by 33.8% year-over-year to $1.11 billion from $1.67 billion [2][7] Business Overview - Thermo Fisher operates in four main segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products & Biopharma Services [3] - The company focuses on research, diagnostics, and manufacturing for pharmaceutical, biotechnology, healthcare, and academic markets [3] Strategic Focus - The company emphasizes innovation, strategic acquisitions, regulatory compliance, and market diversification [4] - Significant investments in R&D, totaling $352 million or 3.2% of quarterly sales, support the development of new instruments and diagnostic kits [12] Segment Performance - Life Sciences Solutions revenue grew by 6.1%, while Laboratory Products & Biopharma Services expanded by 4.1% [5] - Analytical Instruments segment revenue declined by 3.0%, raising concerns due to competitive pressures and tariff impacts [5][11] Challenges and Developments - The decline in operating margins was most pronounced in the Analytical Instruments segment, where income margin fell from 24.6% to 18.8% [6] - Management noted that new tariffs and changes in US government funding priorities could reduce revenue by an estimated $500 million for the year [11] - The company continued to launch new products, including advanced mass spectrometers and electron microscopes, to support biomedical research [8][9] Future Outlook - Thermo Fisher maintained its full-year revenue guidance of $43.3 billion to $44.2 billion, with organic growth projected at 1-3% and adjusted EPS between $21.76 and $22.84 [14] - Ongoing margin pressures and declines in Analytical Instruments will be key areas to monitor in the coming quarters [15]