Financial Data and Key Metrics - Revenue for Q3 2024 was approximately $7 million, driven by research fees from partnered programs, consistent with Q3 2023 [12] - Research and development expenses increased to $41 million, up $3 million from the previous year, due to ongoing program execution and internal pipeline investments [12] - Sales and marketing expenses decreased slightly to $3 million, while general and administrative expenses rose to $19 million, primarily due to intellectual property defense costs [13] - Net loss for the quarter was $51 million, including a non-cash impairment charge of $32 million related to discontinued development of next-generation transgenic mice [14] - Cash and equivalents stood at $670 million, with an additional $210 million in available government funding, bringing total liquidity to $880 million [18] Business Line Data and Key Metrics - The company initiated two new partner programs in Q3 2024, bringing the cumulative total to 95 programs with downstream participation [11] - ABD-147 received orphan drug designation from the FDA, highlighting the potential for future milestone fees and royalty payments [11] - The company expects research fee revenue to decline as it shifts focus to internal and co-development programs [12] Market Data and Key Metrics - The company completed the move to its new headquarters in Vancouver and is on track to bring its GMP manufacturing facility online in 2025 [8] - The company expanded its partnership with Eli Lilly, focusing on co-development collaborations with shared ownership of resulting assets [9] Company Strategy and Industry Competition - The company is transitioning from a platform company to a clinical-stage biotech, with a focus on advancing internal programs and building platform capabilities [6] - The first two pipeline programs, ABCL635 and ABCL575, are on track for CTA filings in Q2 2025, with a broad portfolio of discovery-stage programs in development [7] - The company is prioritizing co-development collaborations and leveraging its TCE platform, with updated data to be presented at CITSE [9] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the company's transition to a clinical-stage company, with a focus on delivering value to patients and shareholders [10] - The company anticipates further investments in its translational and development teams as the pipeline advances [8] - Management highlighted the strong liquidity position, with sufficient funds to support operations and investments for the next three years [18] Other Important Information - The company reported a non-cash impairment charge of $32 million related to the discontinuation of next-generation transgenic mice development [14] - Investments in property, plant, and equipment totaled $63 million, partially offset by government contributions and proceeds from the sale of a stake in Invatex [16][17] Q&A Session Summary Question: Competitive landscape for OX40 and OX40 ligand therapies [20] - Management discussed the advantages of OX40 ligand-targeted therapies, emphasizing the non-depleting mechanism of ABCL575 compared to competitors [21][22] - The company remains bullish on the potential of OX40 ligand antibodies, with preclinical data expected to be presented in 2025 [24] Question: Data expectations for T-cell engagers at CITSE [26] - The company will present updated data on its TCE platform, including programs demonstrating desired profiles in killing and cytokine response [27] Question: Independent development of TCE programs [30] - The company has the liquidity and capabilities to advance two to three new development candidates per year, with potential for equity financing or out-licensing in the future [31][32] Question: Clinical trial site requirements for government funding [35] - Phase 1 trials for ABCL575 and ABCL635 will be conducted in Canada to qualify for government funding, with potential expansion to the US or globally if needed [36][37] Question: Market potential and competition for ABCL635 [39] - ABCL635 targets a multi-pass transmembrane protein in metabolic and endocrine disorders, with a conservative addressable market of over $2 billion [40] Question: Ramp-up of spending and resource allocation [43] - The company expects R&D expenses to remain stable in 2025, with a significant reduction in CapEx as facility builds are completed [44] Question: Positioning of ABCL575 relative to IL receptor antibodies [46] - ABCL575 is expected to enter as a second-line therapy behind DUPIXENT, with potential to move to first-line due to its durability advantages [47][48] Question: Ideal partnership for the TCE platform [51] - The company is focused on collaborations that advance the science of TCEs, with an emphasis on creating effective and safe therapies for cancer patients [52][53] Question: Update on GMP facility and Biosecure Act impact [56] - The GMP facility is on track to bring its first molecules online in late 2025, with the company well-positioned to benefit from geopolitical shifts in manufacturing [57][58][59] Question: Prioritization of internal programs [60] - The company's near-term priorities include capital allocation decisions to identify a major winner, building a differentiated portfolio, and maintaining operational efficiency [60] Closing Remarks - Management thanked participants and expressed optimism about future updates [62]

Cirrus Logic, Inc. (NASDAQ:CRUS) Q2 2025 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Chelsea Heffernan - Vice President, Investor Relations John Forsyth - President and Chief Executive Officer Ulf Habermann - Interim Chief Financial Officer Conference Call Participants Christopher Rolland - Susquehanna Tore Svanberg - Stiefel Thomas O'Malley - Barclays Ananda Baruah - Loop Capital Operator Ladies and gentlemen, thank you for standing by. Welcome to the Cirrus Logic Second Quart ...

Tactile Systems Technology, Inc. (NASDAQ:TCMD) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Sam Bentzinger - Investor Relations, Gilmartin Group LLC Sheri Dodd - Chief Executive Officer Elaine Birkemeyer - Chief Financial Officer Conference Call Participants Kyle Bauser - B. Riley Operator Please standby. Welcome, ladies and gentlemen, to the Third Quarter 2024 Earnings Conference Call for Tactile Medical. At this time, all participants have been placed in a listen-only ...

Financial Data and Key Metrics - Q3 2024 revenue decreased by 19% YoY to $61.9 million, primarily due to lower refrigerant market prices and reduced revenue from the DLA contract [26] - Gross margin for Q3 2024 was 26%, down from 40% in Q3 2023, reflecting lower refrigerant prices [26] - Operating income for Q3 2024 was $7 million, compared to $23.1 million in Q3 2023 [27] - Net income for Q3 2024 was $7.8 million or $0.17 per diluted share, down from $13.6 million or $0.29 per diluted share in Q3 2023 [28] - The company ended the quarter with $56.5 million in cash and no debt [28] Business Line Data and Key Metrics - HFC-410A prices declined by 20% from Q2 2024 to approximately $6 per pound, representing 70% of total aftermarket demand for HFCs [9][10] - The company expects full-year revenue to be at the low end of prior guidance, with a gross margin of approximately 28% [12][30] Market Data and Key Metrics - HFC inventory levels decreased by 2% YoY to 378 million metric tons of CO2e as of December 31, 2023 [20] - HFC reclaim pounds grew by approximately 20% in 2023 compared to 2022 [16] - The company holds a 20%-plus market share for HFC reclaim pounds, with R-410A at approximately 25% [19] Company Strategy and Industry Competition - The company is focused on capitalizing on the HFC phasedown and the expected growth in demand for reclaimed refrigerants [11] - The EPA's final refrigerant management rule mandates the use of reclaimed refrigerants for servicing certain sectors starting in 2029, which is expected to drive industry adoption [13][15] - The company is working with industry partners to improve recovery practices and increase reclaim activity [16] Management Commentary on Operating Environment and Future Outlook - Management remains confident that HFC pricing will increase as demand outstrips supply due to the ongoing phasedown [10][11] - The company is concerned about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [20][33] - The company expects Q4 gross margin to be traditionally lower due to seasonality [12][30] Other Important Information - The company repurchased $2.6 million in common stock during Q3 2024 and increased its share repurchase program to $20 million [29] - The company recognized $2.3 million in non-recurring other income related to a litigation settlement [27] Q&A Session Summary Question: Expectations for HFC pricing and inventory levels - Management expressed concern about the slow decline in HFC inventory levels and the potential need for a petition to the EPA to accelerate the phasedown [33] - The company is uncertain about the timing of price increases but believes supply/demand economics will eventually drive prices higher [41] Question: Integration of USA Refrigerants acquisition - The integration is progressing well, with new customers and additional sources of reclaimed refrigerant [36] - The company is applying USA Refrigerants' strategies to its existing customer base, particularly those acquired from Airgas [37] Question: Gross margin recovery timeline - Management expects gross margins to recover to 30% in the longer term, contingent on higher market prices and the use of lower-cost inventory pools [42] Question: DLA contract revenue - DLA contract revenue for Q3 2024 was approximately $9 million, with full-year expectations adjusted to mid-$30 million, down from $50 million-plus in 2023 [46]

V2X, Inc. (NYSE:VVX) Q3 2024 Earnings Conference Call November 4, 2024 4:30 PM ET Company Participants Mike Smith - Vice President, Treasury, Investor Relations & Corporate Development Jeremy Wensinger - President & Chief Executive Officer Shawn Mural - Senior Vice President & Chief Financial Officer Conference Call Participants Tobey Sommer - Truist Ken Herbert - RBC Capital Markets Peter Arment - Baird Joe Gomes - Noble Capital Trevor Walsh - Citizens JMP Operator Thank you for joining us for the V2X Thir ...

ATI Physical Therapy, Inc. (NYSE:ATIP) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Sharon Vitti - Chief Executive Officer Eimile Tansey - Chief People Officer Joseph Jordan - Chief Financial Officer Conference Call Participants Brian Tanquilut - Jefferies Operator Good afternoon. And welcome to ATI Physical Therapy’s Third Quarter 2024 Earnings Conference Call and Webcast. All participants will be in a listen-only mode. After today’s presentation, there will be an oppor ...

The RealReal, Inc. (NASDAQ:REAL) Q3 2024 Earnings Conference Call November 4, 2024 5:00 PM ET Company Participants Caitlin Howe - Senor Vice President of Finance Rati Levesque - Chief Executive Officer & President Ajay Gopal - Chief Financial Officer Conference Call Participants Mark Altschwager - Baird Ashley Owens - KeyBanc Capital Markets Bobby Brooks - Northland Capital Markets Marvin Fong - BTIG Jay Sole - UBS Operator Good day and thank you for standing by. Welcome to the RealReal Third Quarter 2024 ...

Integra LifeSciences Holdings Corporation (NASDAQ:IART) Q3 2024 Earnings Call Transcript November 4, 2024 8:30 AM ET Company Participants Chris Ward - IR Stuart Essig - Executive Chairman Jan De Witte - President and CEO Lea Knight - CFO Conference Call Participants Steven Lichtman - Oppenheimer Vik Chopra - Wells Fargo Ryan Zimmerman - BTIG Kristen Stewart - C.L. King Robbie Marcus - JPMorgan Matt Taylor - Jefferies Richard Newitter - Truist Securities Craig Bijou - Bank of America Securities Joanne Wuensc ...

Financial Data and Key Metrics - H1 after-tax profits were EUR1.8 billion, down 18% YoY from EUR2.18 billion [4] - H1 revenues increased by 10% to EUR2.74 billion, driven by 9% traffic growth [7] - Average fares fell by 10% in H1, with Q1 down 15% and Q2 down 7% [4] - Gross cash at the end of H1 was over EUR3.3 billion, with net cash at EUR600 million [8] - The company completed a EUR700 million share buyback in August and is 30% through a EUR800 million follow-on buyback [6] Business Line Data and Key Metrics - The fleet consisted of 608 aircraft at the end of H1, including 170 B737 Gamechangers, which increased to 172 by October [5] - Five new bases and 200 new routes were opened during the summer [5] - Approved OTA partnerships now cover over 90% of all OTAs, protecting consumers from overcharging [5] Market Data and Key Metrics - Traffic grew by 9% to a record 115 million passengers, though it would have been higher without Boeing delays [4] - The company expects to carry between 198 million and 200 million passengers for the full year, up 8% YoY [18] - Forward bookings for Q3 are strong, with 70% of bookings already in the system [18] Company Strategy and Industry Competition - The company is focusing on cost discipline, with unit costs expected to be broadly flat for the full year [19] - Ryanair's cost advantage over competitors is widening due to owning its entire Boeing 737 fleet, avoiding expensive leases [8] - The company is working closely with Boeing to manage delivery delays and expects to receive 15 of 29 delayed aircraft by June 2025 [11][12] Management Commentary on Operating Environment and Future Outlook - Management noted that the industry is facing capacity constraints due to Boeing delays and Pratt & Whitney repairs, which could lead to higher pricing in the medium term [15] - The company is optimistic about pricing for summer 2025 and 2026, given weak prior-year comparables and capacity constraints [16] - Management highlighted the impact of consumer spending tightness in Europe and the OTA dispute on pricing softness [14] Other Important Information - The Board is reviewing ownership and control restrictions, with a decision expected in the first half of 2025 [17] - The company has hedged 85% of its fuel for H2 FY25 at $79 per barrel and 75% for FY26 at $77 per barrel [6] - Ryanair has returned almost EUR9 billion to shareholders since 2008, including dividends and share buybacks [9] Q&A Session Summary Question: Impact of ATC disruptions and OTA disputes - The OTA dispute impacted load factors by 2-3 points in Q3 and Q4 of the previous year, with a more significant impact in summer 2024 [28] - Management estimates that up to half of the 10% fare decline in H1 was due to the OTA dispute, with the other half attributed to consumer spending pressure [31] - Forward bookings for summer 2025 are strong, with a 2% increase compared to the same period last year [36] Question: Fuel hedging and cost management - The company has hedged 75% of its fuel for FY26 at $77 per barrel, taking advantage of recent price weakness [6] - Unit costs are expected to be broadly flat for the full year, with fuel hedge savings offsetting ex-fuel cost inflation [19] - Overstaffing due to Boeing delays resulted in higher crew costs, but the company expects to manage this better in FY26 [48] Question: Aircraft delivery delays and growth outlook - Boeing delays have forced the company to revise its traffic growth targets, with FY25 now expected at 200 million passengers (down from 205 million) and FY26 at 210 million (down from 215 million) [12] - The company is working closely with Boeing and expects to receive 15 of 29 delayed aircraft by June 2025 [11] - Management remains optimistic about the MAX 10 certification, which is expected in the second half of 2025 [79] Question: Ancillary revenue performance - Ancillary revenue grew by 10% in H1, slightly ahead of the 9% traffic growth [90] - Key drivers of ancillary revenue include reserved seating, onboard sales, and the new order-to-seat initiative [91] - The company is working to optimize pricing and improve priority boarding performance [92] Question: Share buybacks and capital allocation - The company completed a EUR700 million share buyback in August and is 30% through a EUR800 million follow-on buyback [6] - Future buybacks will depend on cash generation, with priority given to bond repayments in 2025 and 2026 [74] - The Board remains committed to returning surplus cash to shareholders through dividends and buybacks [164] Question: Ownership and control restrictions - The Board is reviewing potential changes to ownership and control restrictions, with a decision expected in the first half of 2025 [17] - The company has consulted with 60% of its shareholders and expects to complete the process in the next 3-4 months [103] - Potential outcomes include removing ownership restrictions, removing voting restrictions, or maintaining the status quo [107]

Willis Lease Finance Corporation (NASDAQ:WLFC) Q3 2024 Earnings Conference Call November 4, 2024 10:00 AM ET Company Participants Austin Willis - Chief Executive Officer Scott Flaherty - Chief Financial Officer Brian Hole - President Conference Call Participants Frank Galanti - Stifel Gregory Dahlberg - Wolfe Research, LLC Will Waller - M3F, Inc Eric Gregg - Four Tree Island Advisory LLC Justin Hughes - Phase 2 Partners Joshua Strauss - Pekin Hardy Strauss, Inc. Joshua Sullivan - The Benchmark Company Opera ...