Partners Group (OTCPK:PGPH.F) Update / briefing January 14, 2026 12:15 PM ET Company ParticipantsDavid Layton - CEORoberto Cagnati - Partner, Chief Risk Officer and Head of Portfolio SolutionsJoris Groflin - CFOConference Call ParticipantsGregory Simpson - Senior Equity AnalystHubert Lam - Director and Senior Equity Research AnalystMate Nemes - Senior Equity Research AnalystNicholas Herman - Director and Equity Research AnalystOperatorGood day, and thank you for standing by. Welcome to the Partners Group's ...

Omada Health FY Conference Summary Company Overview - **Company**: Omada Health (NasdaqGS:OMDA) - **Industry**: Digital Health and Chronic Disease Management - **Mission**: To bend the curve of disease and improve care for chronic disease patients, particularly those with obesity, diabetes, and other related conditions [3][4] Key Highlights Financial Performance - **Revenue**: $257 million for FY 2025, representing a **52% year-over-year growth** [6][26] - **Members Supported**: 886,000 active members [7][26] - **Adjusted Gross Margin**: Upper 60s% for LTM Q3 2025, improved from the 50s% in 2022 [26] - **Adjusted EBITDA Margin**: -2.4% for LTM Q3 2025, improved from nearly -70% in 2022, with the first positive adjusted EBITDA quarter of $2.4 million in Q3 2025 [27] Market Position and Strategy - **Target Market**: Over 20 million Americans covered by Omada's programs through 2,000+ customers, including self-insured employers and health plans [5][18] - **Expansion**: Initially focused on prediabetes and obesity, now expanded to diabetes, hypertension, and musculoskeletal (MSK) care [6][9] - **Growth Drivers**: - Multi-product offerings, including the new GLP-1 Care Track [21] - Customer-driven expansion based on demand for comprehensive care solutions [9][19] Product and Service Offerings - **Care Model**: Combines technology and personalized care to support patients between doctor visits [5][10] - **GLP-1 Care Track**: Launched to provide behavioral support alongside GLP-1 medications, addressing concerns about medication adherence and effectiveness [21][22] - **Engagement Metrics**: Over 55% of members remain engaged after 12 months, and 50% after two years [14][15] Clinical and Economic Outcomes - **Clinical Evidence**: 30 peer-reviewed publications demonstrating the effectiveness of Omada's programs [15][16] - **Economic Value**: Expected ROI of 3-6x in musculoskeletal care, with gross healthcare savings of $1,000-$1,500 per member [16][26] Future Outlook - **Investment Focus for 2026**: Emphasis on AI initiatives and enhancing prescribing capabilities to drive long-term growth and margin expansion [41][42] - **Market Trends**: Increased focus on chronic disease management from government and employers, with potential opportunities in Medicare Advantage [54][56] - **Customer Demand**: Growing interest in combining prescribing with behavioral management for chronic conditions [43][44] Additional Insights - **Customer Relationships**: Strong demand for multi-product solutions, with 75% of new clients opting for more than one condition [52] - **Regulatory Environment**: Positive dialogue with government regarding chronic disease management, indicating potential for future partnerships [54][56] - **Technological Integration**: Use of AI to enhance member experience and operational efficiency, with features like nutritional intelligence agents [38][39] This summary encapsulates the key points from Omada Health's FY conference, highlighting the company's growth, strategic direction, and the evolving landscape of chronic disease management.

Larimar Therapeutics (NasdaqGM:LRMR) FY Conference January 14, 2026 12:00 PM ET Company ParticipantsCarole Ben-Maimon - President and CEOConference Call ParticipantsHenry Jiang - AnalystHenry JiangToday, my name is Henry Jiang. I'm with the banking team here at JPMorgan, and it's my pleasure to introduce Larimar Therapeutics today. Presenting today will be Dr. Carole Ben-Maimon, President and CEO of Larimar. Just a quick note: we'll have time for Q&A after the presentation, so please wait until then for any ...

Concentra Group Holdings Parent (NYSE:CON) FY Conference January 14, 2026 12:00 PM ET Company ParticipantsMatthew DiCanio - CFOTanner Newton - SVP of Finance and StrategyKeith Newton - CEOConference Call ParticipantsBenjamin Rossi - AnalystBenjamin RossiAll right. Thank you all. First and foremost, thank you all for joining us here in person, and for those who are joining us via webcast. My name is Ben Rossi, and I'm the Healthcare Facilities Analyst here at J.P. Morgan. We are excited to welcome Concentra ...

CytomX Therapeutics FY Conference Summary Company Overview - **Company**: CytomX Therapeutics (NasdaqGS:CTMX) - **Industry**: Oncology-focused biotechnology - **Location**: South San Francisco - **Key Personnel**: - Sean McCarthy (CEO) - Chris Ogden (CFO) - Rachel Lester (Chief Business Officer) - Wayne Chu (Chief Medical Officer) Core Points and Arguments Pipeline and Technology - CytomX has developed a unique Probody therapeutic platform aimed at masking antibodies to improve therapeutic windows in oncology [3][4] - The company is focused on two main clinical programs: - **Vasetatag masatikan (Vaseta M)**: An EpCAM-targeting Probody Topo-1 ADC for colorectal cancer [3][5] - **CX801**: A Probody version of interferon alpha-2b for melanoma [3][6] Financial Position - CytomX is well-funded, with cash reserves extending into Q2 2027, excluding potential milestones or new business developments [4] Vaseta M Program - The phase one study for Vaseta M is expanding to over 100 patients, with data updates expected by the end of Q1 2026 [8][19] - Initial data showed a 28% confirmed overall response rate and 94% disease control in late-line colorectal cancer patients [14][17] - The market for colorectal cancer is significant, with 1.9 million patients diagnosed annually, projected to exceed 3 million by 2040, and a $5 billion market opportunity in the U.S. for late-line treatment [10][22] Safety and Efficacy - Vaseta M demonstrated a favorable safety profile with no classic EpCAM toxicities, which have historically limited other EpCAM-targeting therapies [15][18] - The most common adverse event reported was grade 3 diarrhea, occurring in 21-22% of patients, which the company is actively investigating [19][36] Future Development Plans - CytomX aims to initiate a combination study of Vaseta M with bevacizumab to explore earlier lines of treatment [20][30] - The company plans to expand into other tumor types where EpCAM is expressed, potentially leading to a pan-tumor agnostic label [21][22] CX801 Program - CX801 is being developed as a novel immunotherapy for melanoma, particularly in patients who have progressed on checkpoint inhibitors [23][26] - The program aims to harness the activity of interferon alpha-2b while minimizing systemic toxicity through masking strategies [24][25] - Initial data from the combination with Keytruda is expected by the end of 2026 [30] Additional Important Content - CytomX has established partnerships with major pharmaceutical companies, including BMS, Amgen, and Moderna, enhancing its business development capabilities [4] - The company emphasizes the importance of understanding the etiology of adverse events, particularly gastrointestinal toxicities, to optimize patient management [37][38] - The strategic decision to focus on colorectal cancer was based on the abundance of the EpCAM target and the unmet medical need in this area [40][41] Conclusion CytomX Therapeutics is positioned at the forefront of innovation in oncology with its differentiated pipeline and strategic focus on unmet needs in colorectal cancer and melanoma. The upcoming data releases and ongoing studies are critical for validating the efficacy and safety of its lead programs, which could significantly impact the treatment landscape in these areas.

Waldencast (NasdaqCM:WALD) FY 2026 Annual General Meeting January 14, 2026 12:00 PM ET Company ParticipantsCristiano Souza - DirectorOperatorWelcome to the Annual Meeting for Waldencast PLC. Our host for today's call is Cristiano Souza, director of the company. I will now turn the call over to your host, Mr. Souza. You may begin, sir.Cristiano SouzaThank you, Paul. Welcome, everybody. The time is now 5:00 P.M. I'd like to welcome you to the annual general meeting of Waldencast PLC, for those attending in pe ...

Prime Medicine (NasdaqGM:PRME) FY Conference January 14, 2026 12:00 PM ET Company ParticipantsAllan Reine - CFOConference Call ParticipantsTessa Romero - VP and Biotech Equity Research AnalystTessa RomeroWelcome, everyone, to the 44th Annual J.P. Morgan Healthcare Conference. My name is Tess Romero, and I'm one of the Senior Biotech Analysts here at J.P. Morgan. Our next presenting company is Prime Medicine, and presenting on behalf of the company, we have CEO Allan Reine. Allan, over to you.Allan ReineThan ...

Summary of West Pharmaceutical Services FY Conference Call Company Overview - **Company**: West Pharmaceutical Services (NYSE: WST) - **Industry**: Injectable medicine and pharmaceutical packaging - **Revenue**: Approximately $3 billion in 2024 with a 20% operating margin [7][8] Key Points and Arguments Business Model and Growth - West is a global leader in the injectable medicine space, with a robust business model that supports long-term organic growth of 7%-9% and margin expansion [3][31] - The company has developed a significant competitive advantage through proprietary solutions, quality, reliability, and global scale [3][4] - High-value product (HVP) components represent 48% of the business and are the fastest-growing segment, expected to continue driving growth [10][26] Market Trends - The rise of biologics and biosimilars is a key growth driver, with West participating in over 90% of new biologics approvals [17][38] - Regulatory changes, particularly Annex 1 in Europe, are expected to enhance revenue through increased quality expectations and higher average selling prices (ASP) [12][22][38] - The injectable medicine market is growing rapidly, with double-digit growth anticipated for HVP components [12][40] Product Portfolio - West produces over 41 billion components annually, with a focus on high-value products such as elastomer components and drug delivery devices [4][5] - The company serves a diverse customer base, including the top 30 pharmaceutical companies, and its elastomer components are used in approximately 75% of injectable drugs on the market [6][9] Financial Performance - HVP components grew 13.3% on an organic basis in Q3 2025, driven by GLP-1s and new biologics launches [40] - The company expects continued growth in HVP components, although at a slower pace than the recent 50% increase in GLP-1s [41][43] - Free cash flow grew around 54% in the first nine months of the previous year, indicating strong cash generation capabilities [32] Strategic Initiatives - West has made significant investments in proprietary products and contract manufacturing, particularly during the COVID-19 pandemic [23] - The company is transitioning to a more focused operating unit structure to enhance accountability and speed in responding to customer needs [27][28] - A recent decision to sell the SmartDose business was made to redirect resources towards higher growth opportunities, indicating a strategic shift [48][49] Management and Team - The management team has been strengthened with new additions, enhancing the company's ability to innovate and respond to market demands [27][29] - The transition to an operating unit structure aims to drive more accountability and speed in decision-making [28] Additional Important Information - The company is well-positioned to support onshoring trends in the U.S. and is leveraging existing assets to meet growing demand [13][39] - The focus on high-value products is expected to continue driving margin expansion and overall business growth [31][33] - West's strong balance sheet and cash generation allow for disciplined capital allocation towards organic growth and shareholder returns [32][54]

Financial Data and Key Metrics Changes - The company presented its accounts and auditor's report for the year ended December 31, 2024, but specific financial data and key metrics were not disclosed during the meeting [4][9]. Business Line Data and Key Metrics Changes - No specific data or key metrics related to individual business lines were provided during the meeting [4][9]. Market Data and Key Metrics Changes - There was no discussion regarding market data or key metrics changes during the meeting [4][9]. Company Strategy and Development Direction and Industry Competition - The meeting focused on procedural matters and did not provide insights into the company's strategic direction or competitive landscape [4][9]. Management Comments on Operating Environment and Future Outlook - Management did not provide comments on the operating environment or future outlook during the meeting [4][9]. Other Important Information - The meeting was conducted with a quorum present, and resolutions regarding the reappointment of directors and auditors were passed by a large majority [7][9]. - Deloitte & Touche was reappointed as the company's auditor for the upcoming year [8][9]. Summary of Q&A Session - No questions were submitted by shareholders during the meeting, and therefore, there were no responses to address [3][4].

Intellia Therapeutics (NasdaqGM:NTLA) FY Conference January 14, 2026 12:00 PM ET Company ParticipantsEd Dulac - CFOJohn Leonard - CEOConference Call ParticipantsNone - Analyst 1Brian Cheng - Senior Biotech AnalystNone - Analyst 2Brian ChengGood morning. Thanks for joining us for another session at the 44th JPMorgan Healthcare Conference. I'm Brian Cheng, one of the senior biotech analysts here at the firm. On stage, we have Intellia Therapeutics. I'll now pass the mic to their CEO, John Leonard, for a short ...