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CYCLACEL PHARMACEUTICALS, INC. ANNOUNCES EXECUTION OF SHARE EXCHANGE AGREEMENT TO MAKE FITTERS SDN. BHD. ITS WHOLLY-OWNED SUBSIDIARY TO ACCELERATE GROWTH AND STOCKHOLDER VALUE
Globenewswire· 2025-05-06 10:00
Core Viewpoint - Cyclacel Pharmaceuticals has entered into an Exchange Agreement with FITTERS Diversified Berhad, which involves the exchange of shares of FITTERS' subsidiary for common stock of Cyclacel, leading to a significant ownership structure change in the combined entity [1][2][4]. Group 1: Transaction Details - The Exchange Agreement stipulates that all ordinary shares of FITTERS' subsidiary, Fitters Sdn. Bhd., will be exchanged for common stock of Cyclacel, resulting in FITTERS owning approximately 19.99% of the combined company [2]. - Upon closing, Cyclacel stockholders are expected to retain about 80.01% ownership of the combined entity [2]. - The transaction is subject to approval from both Cyclacel and FITTERS stockholders, and it has been unanimously approved by the Boards of Directors of both companies [4]. Group 2: Company Rebranding and Listing - Following the transaction, Cyclacel will be renamed Bio Green Med Solution, Inc., and its common shares will continue to be listed on the Nasdaq Capital Market under a new ticker symbol [3]. - The transaction is expected to close on or before August 31, 2025, with termination rights for both parties if the closing does not occur by that date [3]. Group 3: Company Backgrounds - Cyclacel Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative cancer medicines based on cell cycle, epigenetics, and mitosis biology [7]. - Fitters Sdn. Bhd. specializes in distributing and installing fire safety materials and equipment, known for its reliability and compliance with regulatory standards [5][10].
Henry Schein Q1 Earnings Top Estimates, Revenues Miss, Stock Falls
ZACKS· 2025-05-05 13:51
Core Viewpoint - Henry Schein, Inc. (HSIC) reported adjusted earnings per share (EPS) of $1.15 for Q1 2025, reflecting a 4.5% increase year-over-year and exceeding the Zacks Consensus Estimate by 3.6% [1][12] Financial Performance - The company recorded a GAAP EPS of 88 cents, up from 72 cents in the same quarter last year [2] - Q1 revenues were $3.17 billion, a slight decline of 0.1% year-over-year, and fell short of the Zacks Consensus Estimate by 1.8% [3] - Constant currency total net sales increased by 1.4%, while excluding PPE and COVID-19 test kits, sales growth was 2% year-over-year [3] Segment Analysis - Global Distribution and Value-Added Services segment sales decreased by 0.7% to $2.68 billion, with a 0.8% increase in constant currencies [4] - Global Dental Distribution merchandise sales rose by 0.4% in constant currencies, while equipment sales fell by 2.4% due to sales deferrals [5] - Global Medical Distribution sales increased by 3% in constant currencies, driven by higher patient traffic and growth from acquisitions [5] - Global Specialty Products segment sales totaled $367 million, up 2% on a reported basis [6] - Global Technology segment sales reached $162 million, reflecting a 2.9% increase on a reported basis [7] Margin and Liquidity - Gross profit for the quarter was $1.00 billion, a 1.2% decrease year-over-year, with gross margin contracting to 31.6% [8] - SG&A expenses decreased by 6.7% to $738 million, while adjusted operating profit rose by 18.6% to $262 million [8] - The company ended Q1 2025 with cash and cash equivalents of $127 million, up from $122 million at the end of Q4 2024 [9] Share Repurchase and Guidance - HSIC repurchased approximately 2.3 million shares at an average price of $71.58, totaling around $161 million, with $718 million available for future repurchases [10] - The company maintained its adjusted EPS forecast for 2025 in the range of $4.80-$4.94, indicating 1-4% growth from 2024 [11] Strategic Outlook - HSIC is advancing its BOLD+1 Strategic Plan for 2025 to 2027, focusing on operational efficiency, enhancing customer experience, and expanding its digital solutions [13]