Integer (ITGR) FY 2025 Conference September 04, 2025 03:00 PM ET Speaker1Statement. Sixty for everybody.Speaker2Great. I think we're live. Good afternoon, everyone. I'm Nathan Trebek, one of the medical device analysts at Wells Fargo. Welcome to day two of our healthcare conference. I'm pleased to have management from Integer with us. We have Joe Dziedzic, President and CEO, and Peyman Khales, the incoming CEO and the current Chief Operating Officer. In the audience, we have Diron Smith, the CFO, and Kriste ...

Wayfair (W) FY 2025 Conference September 04, 2025 02:35 PM ET Company ParticipantsEric Sheridan - Managing DirectorNiraj Shah - Co-Founder, Co-Chairman & CEOKate Gulliver - CFO & Chief Administrative OfficerEric SheridanOkay, just in order to keep things on time, I think we're going to get going here. It's my pleasure to introduce the team from Wayfair. We've got Niraj Shah, CEO, co-founder, and co-chairman, and we've got Kate Gulliver, CFO and Chief Administrative Officer. Niraj, I'm going to start with yo ...

Financial Data and Key Metrics Changes - The company reported a revenue of $12 billion, operating in four countries: the U.S., Canada, UK, and Ireland [2] - The total addressable market (TAM) for home goods in these countries exceeds $500 billion, indicating significant growth potential [7] Business Line Data and Key Metrics Changes - The company has developed a proprietary logistics network of approximately 25 million square feet, which includes fulfillment centers and transportation terminals [4] - The logistics capabilities are tailored for heavier, bulkier items, which differentiates the company from general e-commerce players focused on lighter packages [12][13] Market Data and Key Metrics Changes - The home goods category is described as cyclical, with current market conditions being relatively flat after a decline [10] - The company believes it can gain market share even in a down market due to its unique model and execution [11] Company Strategy and Development Direction - The company aims to be the go-to destination for all home goods, leveraging its technology, supplier network, and logistics capabilities [5][7] - The strategy includes expanding its brand portfolio with specialty retail brands and a luxury platform, while also exploring brick-and-mortar stores [6] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the cyclical nature of the home goods market but remains optimistic about gaining market share [10][11] - The company is focused on maintaining operational efficiency while pursuing growth, targeting a 10% adjusted EBITDA margin in the future [47] Other Important Information - The company has closed its German operations to focus on more promising markets like Canada and the UK [44][45] - The company plans to open new physical retail locations in Atlanta and New York, building on the success of its Chicago store [42][40] Q&A Session Summary Question: How does the company view the current category and its market share? - The company sees the home goods category as cyclical but believes it can gain share in both down and up markets due to its execution and model [10][11] Question: What investments have been made in the logistics network? - The company has built an expansive logistics capability since 2015, focusing on the unique needs of heavier, bulkier items [12][13] Question: How does the company balance pricing and promotions? - Promotions are primarily funded by suppliers, and the company aims to optimize pricing to grow gross profit dollars while maintaining margins [19][20] Question: What is the strategy for supplier advertising? - Supplier advertising has grown from 1% to 1.5% of revenue, with expectations for continued growth as the company improves its advertising tools [21][22] Question: How does the company align its various brands? - The company ensures that its brands do not compete directly with each other, leveraging its logistics and technology to provide a unique shopping experience [26][28] Question: What are the learnings from the Chicago store? - The Chicago store has been successful, creating a positive halo effect in the region, and the company plans to apply these learnings to future store openings [40][41] Question: What is the current international strategy? - The company is focusing on Canada, the UK, and Ireland, with no plans to expand further into Europe after closing its German operations [44][45]

Diageo (DEO) FY 2025 Conference September 04, 2025 02:15 PM ET Company ParticipantsLaurence Whyatt - Head of European Beverages ResearchNik Jhangiani - Interim CEO & DirectorLaurence WhyattGood afternoon, everyone, and thank you very much again for joining us for this afternoon session. I'm very happy to have Nick Genghani here from Diageo joining us. So Nick, thank you for coming to the conference this year. Yes, we've got these lovely ritual drinks in front of us.Nik JhangianiWe served them all day yester ...

Stryker (SYK) FY 2025 Conference September 04, 2025 02:15 PM ET Company ParticipantsJason Beach - Vice President of Finance & Investor RelationsAndy Pierce - Group President - MedSurg & NeurotechnologyConference Call ParticipantsLawrence Biegelsen - Senior Medical Device Equity Research AnalystLawrence BiegelsenI'm Larry Beagleton, the Medical Device Analyst at Wells Fargo, and it's my pleasure to host this fireside chat with the management team from Stryker. With us, we have Andy Pierce, Group President, M ...

HCA Healthcare (HCA) FY 2025 Conference September 04, 2025 02:15 PM ET Company ParticipantsMike Marks - EVP & CFOConference Call ParticipantsStephen Baxter - Senior Equity Research AnalystStephen BaxterAll right. Good afternoon, everyone. I'm Steve Baxter, the Healthcare Services Analyst here at Wells Fargo. We're very pleased to have HCA Healthcare with us today. HCA Healthcare is one of, if not the largest, operators of health systems in the country. From the company, we're pleased to be joined by CFO Mic ...

GeneDx (WGS) FY 2025 Conference September 04, 2025 02:15 PM ET Company ParticipantsKatherine Stueland - CEO & DirectorBrandon Couillard - Managing DirectorBrandon CouillardAll right. Katherine, thanks for being here. Maybe just to start out for those that may be somewhat less familiar, the company's rapidly becoming more of a household name, but you came from more humble beginnings. Maybe talk about, high-level, the strategic focus of the company and where you're sort of playing competitively in the diagnos ...

Diageo (DEO) FY 2025 Conference September 04, 2025 02:15 PM ET Company ParticipantsLaurence Whyatt - Head of European Beverages ResearchNik Jhangiani - Interim CEO & DirectorLaurence WhyattGood afternoon, everyone, and thank you very much again for joining us for this afternoon session. I'm very happy to have Nick Genghani here from Diageo joining us. So Nick, thank you for coming to the conference this year. Yes, we've got these lovely ritual drinks in front of us.Nik JhangianiWe served them all day yester ...

Financial Data and Key Metrics Changes - The company reported a median progression-free survival (PFS) of about 10 months for RLY-2608, which is consistent with previous data and shows strong performance compared to competitors [3][4] - In second-line patients, the median PFS is around 11 months, indicating a solid efficacy profile [4] Business Line Data and Key Metrics Changes - RLY-2608 is specifically targeting HR-positive, HER2-negative, PIK3CA-mutated breast cancer, with a median PFS of 10.3 months in this population, nearly doubling the current standard of care [5] - The company is moving forward with a phase 3 trial for RLY-2608 based on the evolving data from the rediscover trial [4][10] Market Data and Key Metrics Changes - The total addressable market (TAM) for RLY-2608 in the U.S. and major global geographies is estimated to be between $2 to $3 billion, with approximately 30,000 patients in these regions [18] - The unmet medical need in the second-line setting has remained largely unchanged over the past decade, with PFS consistently reported between five to seven months for existing therapies [19][20] Company Strategy and Development Direction - The company is focusing on the development of RLY-2608 in both breast cancer and vascular malformations, prioritizing these areas due to their significant market potential [37][38] - There is an ongoing exploration of triplet combinations with other CDK4/6 inhibitors, which may lead to a frontline registration study in breast cancer [21][22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the safety profile of RLY-2608, which is expected to enhance real-world adherence and treatment duration compared to existing therapies [6][8] - The company is cautious about capital access and has reorganized to extend its cash runway into 2029, allowing it to reach key milestones in its clinical programs [38] Other Important Information - The phase 3 REDISCOVER-2 trial has been initiated, comparing RLY-2608 plus fulvestrant against capivasertib plus fulvestrant [10] - The company is also exploring the potential of RLY-2608 in treating PIK3CA-related overgrowth spectrum (PROS) and other vascular malformations, with a significant patient population identified [30][34] Q&A Session Summary Question: Can you provide an overview of the phase 3 REDISCOVER-2 trial? - The trial is a global randomized study involving 540 patients, comparing RLY-2608 plus fulvestrant to capivasertib plus fulvestrant, with a focus on second-line patients [10] Question: What are the expectations regarding the control arm of capivasertib plus fulvestrant? - The control arm is benchmarked against the CAPItella 291 study, which reported a median PFS of five and a half months in a similar patient population [15] Question: How does the company view the competitive landscape for NextGen PI3K inhibitors? - The company believes it has established a high bar with RLY-2608, showing superior clinical data compared to competitors, which have not demonstrated significant differentiation [28]

Financial Data and Key Metrics Changes - ORIC Pharmaceuticals is in a strong financial position with $436 million in cash, providing a runway into the second half of 2028, assuming full success in ongoing programs [57][58][60] - The company completed a PIPE financing of $125 million and drew down an additional $119 million from an ATM, indicating robust capital management [56][57] Business Line Data and Key Metrics Changes - ORIC-944, a small molecule inhibitor targeting the PRC2 complex, is in dose optimization and is expected to start phase three studies next year [4][5] - ORIC-114 is also progressing, with updates expected in the second half of the year for various patient cohorts [50][51] Market Data and Key Metrics Changes - The prostate cancer market is significant, with androgen receptor inhibitors collectively generating over $10 billion in annual sales, growing at solid double-digit rates [8] - ORIC-944 aims to differentiate itself in this competitive landscape by demonstrating better drug properties compared to Pfizer's Mevrimetastat [10][12] Company Strategy and Development Direction - The company is focused on advancing its clinical pipeline, particularly ORIC-944 and ORIC-114, with plans to initiate phase three studies in the first half of 2026 [31][38] - ORIC Pharmaceuticals is not waiting for phase three data from competitors and is moving forward with its own studies to capitalize on market opportunities [46][60] Management's Comments on Operating Environment and Future Outlook - Management believes that the probabilities for success in PRC2 drug development have increased, especially with the limited number of PRC2 inhibitors in late-stage development [63] - The company is confident in its ability to capture a significant market share even as a second mover, given the expected differentiation in safety and efficacy profiles [45][46] Other Important Information - ctDNA is being explored as a biomarker for long-term durability outcomes, with expectations for substantial decreases in ctDNA levels among patients [32][33] - The company is strategically focusing on first-line treatments for ORIC-114, moving away from second-line settings for commercial and cost reasons [50] Q&A Session Summary Question: What updates can be expected for ORIC-944 and ORIC-114? - The next update for ORIC-944 will be operational in nature, focusing on the rationale for dose optimization, while ORIC-114 will have updates on various patient cohorts in the second half of the year [25][50] Question: How does ORIC-944 compare to Mevrimetastat? - ORIC-944 has shown promising early data with higher PSA response rates compared to Mevrimetastat, indicating potential for better efficacy [19][24] Question: What is the expected cash runway for the company? - The company has a cash runway through the second half of 2028, which supports ongoing development for both ORIC-944 and ORIC-114 [57][58] Question: What is the strategy for launching ORIC-944? - The company aims to minimize the timeline gap with competitors and is focused on starting phase three studies without waiting for competitor data [46][60] Question: What is the expected efficacy benchmark for ORIC-114? - The company aims for a top-line objective response rate (ORR) of around 55% for monotherapy and 65% for combination therapy with Mavantamib in first-line settings [54]