问道者 | 杜一用 由于电子商务和新技术给传统服装零售带来的冲击，九牧王从2014年开始尝试"实业+投资"，希望通过上下游相关产业投资助推服装主业发展，或者通过跨 界投资探索第二条增长曲线。 九牧王不是服装行业跨界投资的第一个吃螃蟹者。雅戈尔1992年就跨界房地产，2000年后又进军股权投资，把服装、地产和金融投资确定为"三驾马车"。 雅戈尔的跨界投资称得上传统服装零售行业的榜样。董事长李如成曾经公开表示，"雅戈尔投资房地产和金融赚的钱，做30年服装都赚不到。"从2001-2022 年获得的投资收益总共是将近470亿元，雅戈尔现在的市值也不过337亿元。 李如成2019年宣布"聚焦时尚主业"。现在回头去看，雅戈尔对跨界投资时机的把握相当精准，进入时房地产牛市刚启动，退出时恰逢巅峰，进退自如让雅戈 尔赚得盆盈钵满。 "男装第一股"雅戈尔收获41亿元投资回报时，"男裤专家"九牧王却因为跨界投资问题收到了上交所的问询函。由于最近三年跨界投资导致财富不断缩 水，"男裤专家"已决心戒掉跨界投资。 上交所的问询函让外界知道了"男裤专家"的家底。到2024年底，九牧王总资产57亿元，投资账面价值22.7亿元，在总资产中占比 ...

Core Insights - Alvotech and Advanz Pharma have entered into a supply and commercialization agreement for AVT10, a biosimilar candidate to Cimzia® (certolizumab pegol) [1][3] - This agreement is significant as AVT10 is the only biosimilar candidate referencing Cimzia® under development globally, targeting chronic rheumatic diseases [2][3] - The partnership aims to expand access to high-quality biologics for patients in Europe, with plans to launch their first biosimilars in Q4 2025 [4] Company Overview - Alvotech is a biotech company focused on developing and manufacturing biosimilar medicines, with a pipeline that includes eight disclosed biosimilar candidates for various diseases [6] - Advanz Pharma specializes in specialty, hospital, and rare disease medicines, with a commercial presence in over 90 countries and a diverse product portfolio [7][8] Market Context - Cimzia® generated worldwide sales of US$2.3 billion in 2024, indicating a substantial market opportunity for Alvotech's biosimilar candidate [3] - The strategic partnership between Alvotech and Advanz Pharma is expected to enhance their biosimilars pipeline and strengthen their market position in Europe [3][4]

Key Takeaways PANW's SASE business grew ARR 36% YoY in Q3 FY25, more than double the overall market growth. Prisma Access Browser drove one-third of seats sold, with 3M licenses sold since acquiring Talon. PANW added 6,000 SASE customers, with 40% of Q3 additions being net new to the company.Palo Alto Networks (PANW) is showing robust growth in Secure Access Service Edge (SASE), its cloud-based network security offering. In the third quarter of fiscal 2025, SASE was its fastest-growing business, with the ...

Dogwood Therapeutics (DWTX) Conference June 11, 2025 09:15 AM ET Speaker0 Of our June 2025 SmallCap Conference. I'm Alex Antman, and I serve as an equity research analyst here at Sidoti and Company. Today, we're pleased to be in conversation with CEO and Chairman, Greg Duncan, of Dogwood Therapeutics, ticker DWTX. During the presentation, please feel welcome to submit questions using the Zoom Q and A interface at the bottom of your screen. After the presentation, we'll open to your questions. And with that, ...

Zscaler, Inc. (NASDAQ:ZS) Bank of America 2025 Global Technology Conference June 5, 2025 10:50 AM ET Company Participants Jagtar Singh Chaudhry - Co-Founder, CEO & Chairman of the Board Conference Call Participants Unidentified Analyst So I'm happy to host today for keynote, Jay Chaudhry we -- here we go. [indiscernible] you should learn from her also. So as I start with all our companies, I kind of discuss what investors are asking us about, just to set the framework for the discussion, I'll do it very qui ...

Zscaler (ZS) 2025 Conference June 05, 2025 10:50 AM ET Speaker0 So I'm happy to host today for keynote Jay Chondri. Here we go. Tomer, you should learn from her also. So as I start with Speaker1 all our Speaker0 companies, I kind of discuss what investors are asking us about just to set the framework for the discussion. I'll do it very quick. SASE remains an extremely hot space with very fast growth for most companies. There are new entrants though and the question is two things. Number one, how do you resp ...

Summary of Alvotech (ALVO) Conference Call Company Overview - Alvotech is a leading pure play biosimilars company focused on providing access to low-cost biologic drugs globally, with a strong emphasis on high quality [3][4] - The company has established a significant presence in the biosimilars market over the past ten years, with a total addressable market for biologics estimated at $200 billion [4] Core Business Strategy - Alvotech employs a partnership approach, collaborating with strong local partners in various countries to enhance market reach [4][16] - The company has invested heavily in R&D and manufacturing capabilities, integrating both functions to streamline operations [14][15] - Alvotech has a multiproduct portfolio strategy, with a focus on biosimilars, which are projected to grow significantly as patents for biologics expire [7][10] Market Opportunity - Approximately 120 biologics are expected to lose patent protection in the next ten years, creating a substantial opportunity for biosimilar development [7] - The biosimilar market has been growing at around 20% over the last three years, particularly in immunology and oncology [11] Financial Performance and Projections - Alvotech reported revenues of approximately $275 million last year, with expectations to grow to between $600 million and $700 million this year [28] - EBITDA is projected to increase from $108 million to between $200 million and $280 million this year, indicating strong operating leverage [28] - By 2028, Alvotech aims to achieve revenues exceeding $1.5 billion, with an EBITDA margin of 40-45% [29][30] Product Pipeline and Launches - Alvotech has launched two biosimilars in the U.S. market: Humira (ABTO2) and Stelara (AVTO4) [19][20] - The company anticipates three new approvals and launches by the end of the year, with a total addressable market of around $5 billion [21] - Future launches include biosimilars for Entyvio, high-dose Eylea, and others, expected to contribute significantly to revenue targets [22][33] Strategic Partnerships - Alvotech has established 19 global partnerships, which provide steady cash flow and support R&D funding [16] - The company emphasizes deepening existing partnerships to leverage market opportunities effectively [42][43] Risk Management - Alvotech does not foresee significant impacts from U.S. tariffs due to favorable tariff rates and contract structures [25] - The company is confident in its ability to navigate patent discussions and maintain a competitive edge in the biosimilar market [37][41] Conclusion - Alvotech is positioned as a strong player in the biosimilars market with a robust growth strategy, significant market opportunities, and a comprehensive product pipeline [35]

Core Viewpoint - Alvotech has successfully completed the acquisition of Xbrane Biopharma's R&D organization and a biosimilar candidate to Cimzia®, enhancing its development capacity and presence in the Swedish life science sector [1][2]. Group 1: Transaction Details - The acquisition was announced on March 20, 2025, and approved on April 14, 2025, with a total purchase price of approximately SEK 275 million (US$28.9 million) [2]. - The payment structure includes a cash payment of approximately SEK 102.2 million, assumption of convertible debt of approximately SEK 152.75 million, and assumption of accounts payable related to the biosimilar candidate of approximately SEK 20 million [7]. Group 2: Company Overview - Alvotech is a biotech company focused on developing and manufacturing biosimilar medicines, aiming to be a global leader in the biosimilar space with a fully integrated approach and broad in-house capabilities [4]. - The company has two approved biosimilars, targeting Humira® (adalimumab) and Stelara® (ustekinumab), and a pipeline of nine disclosed biosimilar candidates for various diseases [4]. - Alvotech has established strategic commercial partnerships across multiple regions, including the United States, Europe, Japan, China, and parts of South America, Africa, and the Middle East [4].

Zscaler (ZS) Update / Briefing June 03, 2025 02:30 PM ET Speaker0 everyone. Apologize for the delay here. I would like to welcome you to Investor Relations Innovation Briefing at Zenith Live. We get started, please take moment to look at our safe harbor statements. Let's quickly go over the agenda after this. So we'll start off with some comments from Jay talking about the scale expansion. Jay, we'll have Adam will double into our SecOps strategy. After that, have special guest, Brian Byer, who is founder a ...

Zscaler (ZS) reported third-quarter fiscal 2025 non-GAAP earnings of 84 cents per share, which beat the Zacks Consensus Estimate by 12%. Moreover, the bottom line increased 18.3% year over year, driven by higher revenues and efficient cost management.ZS’ earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 18.7%.Zscaler’s third-quarter fiscal 2025 revenues of $678 million beat the Zacks Consensus Estimate by 1.8% and exceeded management’s guidance of $ ...