Financial Data and Key Metrics Changes - The company provided guidance for FY 2026, expecting revenue growth of 4%-5%, supported by a low single-digit comp growth of 1%-2% and new unit contributions leading to approximately 5% net income growth [2][27] - The average check at Cheesecake Factory is approximately $30 for all occasions, with lunch checks being about 20%-30% less [44][46] Business Line Data and Key Metrics Changes - Flower Child, the fast casual brand, continues to show strength and is differentiated from traditional fast casual dining, contributing positively to the overall portfolio [7][12] - North Italia has been experiencing some volatility but maintains an average unit volume (AUV) of roughly $8 million, with new openings exceeding sales expectations [73] Market Data and Key Metrics Changes - The company has observed a stable consumer environment, with slightly slower spending but no significant pressure on any specific demographic cohort [7][8] - The industry has seen a pullback in alcoholic beverage sales, but total beverage rates have remained stable, indicating continued consumer interest in dining out [25] Company Strategy and Development Direction - The company plans to open 26 new restaurants in FY 2026, continuing its growth trajectory across its portfolio [28] - The rewards program is a key focus, with efforts to drive guest engagement and increase visit frequency through personalized marketing [29][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating the current operating environment, citing strong P&L resiliency and predictability of sales [8] - The company believes that experiential dining will remain a priority for consumers, particularly among younger demographics [18] Other Important Information - The company is developing a new app to enhance guest experience, allowing for easier reservations and order placements, which is expected to launch in the first half of FY 2026 [30] - The international portfolio consists of 35 restaurants, with plans to open 3-5 additional locations annually, indicating a positive outlook for international growth [77] Q&A Session Summary Question: How is the company positioned in the pricing debate versus food at home? - Management believes that their experiential dining model differentiates them from food at home, and they do not see significant trade-offs affecting their business [14][15] Question: What is the average frequency of visits for guests? - The average guest visits Cheesecake Factory four to six times a year, with the goal of increasing this through the rewards program [33] Question: How does the company plan to address the performance of North Italia? - Management is implementing a price-fixed lunch menu to attract more guests while maintaining the core concept [72] Question: What is the outlook for international growth? - The company anticipates opening 3-5 international restaurants per year, with strong performance from existing partners [77] Question: How does the company view its capital allocation strategy? - The company plans to maintain a CapEx range of $200 million-$210 million for FY 2026, balancing dividends and share repurchases while maintaining a strong cash flow [78]

Kymera Therapeutics (NasdaqGM:KYMR) FY 2025 Conference December 03, 2025 11:15 AM ET Company ParticipantsJared Gollob - CMOBruce Jacobs - CFOConference Call ParticipantsJeff Beach - Senior Biopharma AnalystJeff BeachLet's do this. All right, so welcome to the second day of the Citi Global Healthcare Conference. So I'm Jeff Beach. I'm the senior biopharma analyst, and my team's here in front too. So we're thrilled today to have Kymera Therapeutics. We have Bruce Jacobs, CFO. We have Jared Gollob. So welcome, ...

Financial Data and Key Metrics Changes - The company expects 4%-5% revenue growth for FY 2026, supported by a low single-digit comp growth of 1%-2% and new unit contributions leading to approximately 5% net income growth [2][28] - The Cheesecake Factory's current four-wall margins are projected to be in the mid-17% range, with total company margins expected to be just under 16% for the year [56][60] Business Line Data and Key Metrics Changes - Flower Child, the fast casual brand, continues to show strength and is differentiated from traditional fast casual dining, contributing positively to the overall portfolio [7][12] - North Italia is experiencing some challenges with comp sales but has opened new locations that are exceeding sales expectations, indicating potential for recovery [70][73] Market Data and Key Metrics Changes - The company has observed stable consumer behavior with slightly slower spending, but no significant volatility indicating pressure on the consumer [7][8] - The competitive landscape includes challenges from food at home due to menu pricing increases across the industry, but the company believes its experiential dining model mitigates this risk [14][63] Company Strategy and Development Direction - The company plans to open 26 new restaurants in FY 2026, continuing its growth trajectory across its portfolio [29][49] - The focus on menu innovation, particularly with the introduction of Bites and Bowls, aims to enhance customer experience and drive traffic [30][81] Management's Comments on Operating Environment and Future Outlook - Management expresses confidence in navigating the current economic environment, citing strong P&L resiliency and the ability to adapt to input cost changes [8][54] - The company is optimistic about the rewards program, which has shown strong engagement and aims to increase customer visits [30][40] Other Important Information - The company is exploring international growth opportunities, with plans to open 3-5 international restaurants annually [77] - Capital expenditures for FY 2026 are projected to be between $200 million and $210 million, with a focus on maintaining a strong balance sheet and cash flow [78][79] Q&A Session Summary Question: How does the company view consumer trends across different demographics? - Management notes that there is stability in consumer spending across demographics, with Flower Child showing continued strength despite broader industry challenges [6][7] Question: What initiatives are being taken to address the performance of North Italia? - The company has introduced a price-fixed lunch menu to attract customers and is committed to maintaining the core concept while addressing current market conditions [72][73] Question: How does the company plan to leverage its rewards program? - The rewards program is designed to enhance customer engagement and drive additional visits, with a focus on personalized marketing strategies [30][40]

Financial Data and Key Metrics Changes - The medical technology market is described as strong and resilient, driven by an aging population and continued access to care globally [6] - The company has performed over 30,000 cases with its Varipulse product since its relaunch, indicating a rapid build-up of momentum [20][36] Business Line Data and Key Metrics Changes - The company focuses on three core areas in its medtech business: cardiovascular, surgery, and vision, with significant investments in the cardiovascular space [6] - The CARTO system is highlighted as a leading imaging system in electrophysiology, with over 5,000 systems distributed worldwide [9][10] Market Data and Key Metrics Changes - In the U.S., approximately 70% of atrial fibrillation procedures have transitioned to pulsed field ablation (PFA), while the international market is estimated to be less than that [29][31] - The company is launching Varipulse in multiple international markets, including China, Japan, and Europe, indicating a strong global presence [65] Company Strategy and Development Direction - The company is committed to a super cycle of innovation, with plans for two major mapping releases per year and a new generation of CARTO systems [76] - The company is developing new materials science that will change the physics of ablation procedures, indicating a focus on advanced technology [78][82] Management's Comments on Operating Environment and Future Outlook - Management emphasizes the importance of mapping systems in electrophysiology procedures, noting that mapping is utilized in over 99% of cases in the U.S. [18] - The management expresses confidence in the Varipulse product and its growing momentum, highlighting the safety and efficiency of the procedure [36] Other Important Information - The company is launching a new family of aspiration catheters called Cereglide for acute ischemic stroke, indicating a focus on addressing unmet needs in neurovascular [66] - The management has successfully integrated high-growth businesses like Abiomed and Shockwave, retaining key talent and fostering innovation [71] Q&A Session Summary Question: How do you think about J&J's electrophysiology franchises, strengths and weaknesses? - The company is a clear leader in electrophysiology, anchored by the CARTO system, which integrates mapping technologies and provides safety parameters for physicians [7][8] Question: What is the uptake of Varipulse since its relaunch? - Over 30,000 cases have been performed with Varipulse since its relaunch, with a significant increase in momentum observed [20][36] Question: What percentage of the market has transitioned to PFA? - In the U.S., about 70% of atrial fibrillation procedures have transitioned to PFA, while the international market is less than that [29][31] Question: What is the company's strategy for future product development? - The company plans to launch a new therapeutic catheter every year and is committed to continuous innovation in its product portfolio [57] Question: How does the company view its position in the market? - The company is the clear market leader in electrophysiology and is committed to maintaining this position through innovation and product development [76]

Financial Data and Key Metrics Changes - Kymera Therapeutics has a cash position of $980 million, providing a runway into the second half of 2028, which supports ongoing phase 2B studies and initial phase 3 studies for STAT6 and IRF5 programs [28][29]. Business Line Data and Key Metrics Changes - The company is focusing on two wholly owned programs: the STAT6 program, which is nearing data readout, and the IRF5 program, set to enter the clinic next year [3][4]. - The STAT6 program has progressed through phase 1A and is currently in phase 1B, with plans to initiate phase 2B studies in atopic dermatitis and asthma [10][24]. Market Data and Key Metrics Changes - The atopic dermatitis market has over 40 million diagnosed patients, but only about 1 million are treated with Dupixent (Dupy), indicating a significant unmet need for effective treatments [20][21]. - The company sees a large opportunity for oral medications in the market, especially for pediatric populations who currently face challenges with injectable treatments [32][33]. Company Strategy and Development Direction - Kymera aims to leverage its unique platform technology to develop drugs that provide biologic-like efficacy with a similar safety profile, focusing on immunology as a key area of opportunity [2][3]. - The company plans to conduct phase 2B studies in atopic dermatitis and asthma, which will serve as sentinel studies for future phase 3 trials across multiple indications [24][26]. Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of their STAT6 and IRF5 programs, highlighting the transformative potential of their oral drugs in treating Th2 allergic diseases [32][33]. - The company is committed to maintaining control over its development process to accelerate timelines and ensure the right patient populations are included in trials [43][46]. Other Important Information - Kymera has made a strategic decision to not partner its programs at this stage, believing it can execute phase 2B studies effectively on its own [24][26]. - The company is exploring the use of AI to enhance clinical operations and improve efficiency in patient recruitment and data analysis [51][52]. Q&A Session Summary Question: How does the company view the competitive landscape for its STAT6 and IRF5 programs? - Management believes that while many companies are interested in protein degradation, Kymera's focused approach and deep expertise give it a competitive edge in developing effective therapies [68]. Question: What are the key objectives for the upcoming phase 1B and phase 2B studies? - The main objectives include confirming safety and pharmacokinetics, validating dosing for phase 2B, and demonstrating biomarker effects similar to those seen with Dupixent [6][7][10]. Question: How does the company plan to address the commercial opportunity for its drugs? - The strategy involves focusing on the largest markets first, such as atopic dermatitis and asthma, and potentially expanding to other indications based on the success of initial studies [22][23].

Galectin Therapeutics (NasdaqCM:GALT) FY 2025 Annual General Meeting December 03, 2025 11:00 AM ET Company ParticipantsKhurram Jamil - CMOKevin D. Freeman - Vice ChairmanJoel Lewis - President and CEOJack W. Callicutt - CFONone - Inspector of ElectionsKevin D. FreemanGood morning, ladies and gentlemen. Welcome. My name is Kevin Freeman, and I'm the Vice Chairman of the Board of Galectin Therapeutics, Inc. I will act as Chair of this meeting, and Mr. Jack Callicutt, our Chief Financial Officer and Corporate ...

Financial Data and Key Metrics Changes - The company is currently trading at close to multi-year highs, indicating a positive market sentiment and performance [18] - The Navigate trial's top-line results were presented, showing a lower rate of new varices with the two-milligram dose of belapectin compared to placebo after 18 months, although not statistically significant in the overall population [24] Business Line Data and Key Metrics Changes - The focus has been on analyzing biomarker data from the Navigate trial to support the efficacy of belapectin in treating MASH cirrhosis and portal hypertension [21][25] - Significant findings include a lower rate of new varices in patients treated with belapectin compared to placebo, particularly in those with advanced fibrosis [26] Market Data and Key Metrics Changes - The company has engaged with key opinion leaders (KOLs) and presented findings at major hepatology conferences, enhancing its visibility and credibility in the market [22] - The Navigate trial enrolled one of the most advanced compensated MASH cirrhosis populations studied to date, which may influence market perception and potential partnerships [29] Company Strategy and Development Direction - The company aims to maximize the value of its program and is exploring strategic opportunities to advance belapectin, which has the potential to change the treatment landscape for patients with no FDA-approved therapies [23] - Continued engagement with clinicians and KOLs is planned to further validate and communicate the clinical findings of belapectin [22] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the company's current position and the extensive data available to support its programs [18] - The company anticipates feedback from the FDA regarding its submitted package and is optimistic about the future of its treatment options [23] Other Important Information - The company has maintained a clean safety profile for belapectin, with no drug-related serious adverse events reported during the Navigate trial [29] - The results from the Navigate trial are expected to lead to further discussions with potential partners committed to advancing belapectin [29] Q&A Session Summary Question: What are the key findings from the Navigate trial? - The two-milligram dose of belapectin showed a lower rate of new varices compared to placebo, particularly in the completer population [24] - Biomarker analyses indicated that belapectin may stabilize MASH cirrhosis over time and reduce key inflammatory pathways [26][27] Question: What are the next steps for the company? - The company is finalizing remaining analyses and looks forward to working with the FDA to determine next steps for the belapectin program [29] - Active discussions with potential partners are ongoing to advance the treatment for patients with no approved options [29]

Financial Data and Key Metrics Changes - The company announced a $7 billion commitment to expand R&D capabilities and domestic manufacturing [6] - The cash balance remains substantial, with ongoing dividends and buybacks, but the company is open to M&A opportunities if the right conditions arise [11][12] Business Line Data and Key Metrics Changes - Eylea HD received recent approvals for RVO and Q4 dosing, with expectations for commercial impact starting in 2026 [17] - Dupixent continues to grow robustly, treating over 1.3 million patients globally, with significant market expansion opportunities in atopic dermatitis and asthma [30][31] Market Data and Key Metrics Changes - The company is actively monitoring the impact of biosimilars on Eylea, noting that any conversions to biosimilars still position patients as candidates for Eylea HD [24] - The COPD launch has shown strong performance, with Dupixent being the best-performing respiratory launch for the company [34] Company Strategy and Development Direction - The company is committed to domestic manufacturing and enhancing internal capabilities while exploring external opportunities for growth [6][12] - The focus remains on investing in the pipeline and fostering innovation to drive long-term shareholder value [10] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the future, particularly regarding the Eylea HD enhancements and the ongoing growth of Dupixent [21][30] - The company is closely watching policy changes related to drug pricing and their potential impact on Eylea and other products [26] Other Important Information - The company is preparing for a submission for a prefilled syringe for Eylea HD, expected in the second quarter [18] - Linvoseltamab has shown promising data in the myeloma market, with plans for further studies in earlier lines of therapy [63] Q&A Session Summary Question: Update on policy and macro environment - The company has committed to domestic manufacturing and is in active negotiations regarding drug pricing policies [6][9] Question: Thoughts on M&A and business development - The company is open to M&A opportunities but prioritizes internal investments and collaborations [12][13] Question: Eylea HD commercial impact and competition - Eylea HD enhancements are expected to drive growth starting in 2026, despite current payer issues [21][24] Question: Dupixent growth drivers - Dupixent is benefiting from market expansion in atopic dermatitis and asthma, with significant room for growth [30][31] Question: Linvoseltamab in myeloma - Linvoseltamab has shown best-in-class data among BCMA bispecifics, with ongoing studies to simplify treatment algorithms [62][63]

Financial Data and Key Metrics Changes - The company is focused on improving operational cash flow and expects to see momentum in this regard throughout Q4 and into 2026, driven by better supply reliability and improved EBITDA [22][41] - The company has identified $25-$30 million in savings for 2026, primarily from enhanced productivity and stronger procurement management [37][40] Business Line Data and Key Metrics Changes - The relaunch of PriMatrix and Durepair has been successful, with positive early indications exceeding expectations since their launch in early October [12][16] - The ENT franchise is experiencing growth in the high single-digit to low double-digit range, particularly in the ERA Eustachian tube dilation products, while Balloon Sinuplasty is facing challenges [19][17] Market Data and Key Metrics Changes - The implant-based breast reconstruction market is estimated at $800 million, growing at high single-digit to low double-digit rates, presenting significant opportunities for the company [33][36] Company Strategy and Development Direction - The company is prioritizing quality management system transformation and supply chain operations to address operational challenges [3][7] - Future M&A activities are on hold until after 2026, focusing on debt reduction and operational improvements first [21][22] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the need for consistent delivery of results to regain investor confidence and believes the company is significantly undervalued [43][44] - The company aims to establish a culture of continuous improvement in supply chain and operations to enhance profitability [40][41] Other Important Information - The Boston facility is set to be operational by June 2026, with the older facility already closed [6][10] - The company is working on a Compliance Master Plan to harmonize quality management systems across its global operations [7][9] Q&A Session Summary Question: What is the status of the Boston facility remediation? - The Boston facility is on track to be operational by June 2026, with the older facility already closed [6] Question: How is the company addressing operational challenges? - The company is implementing a Compliance Master Plan to harmonize quality management systems and improve supply chain resilience [7][9] Question: What are the growth opportunities in the implant-based breast reconstruction market? - The market is estimated at $800 million and is growing, with the company positioned to capture share through its product offerings [33][36] Question: What are the expected savings for 2026? - The company has identified $25-$30 million in savings through enhanced productivity and better procurement management [37][40] Question: When will the investor day be held? - The date for the investor day has not been announced yet, but it is expected to occur in the near future [45]

The RealReal (NasdaqGS:REAL) FY 2025 Conference December 03, 2025 10:30 AM ET Company ParticipantsAjay Gopal - CFOConference Call ParticipantsNone - AnalystNoneWe're hosting Ajay Gopal from The RealReal, so thank you so much for joining us. First time here at the conference.Ajay GopalYeah, thank you.So for starters, I want to hit on just kind of an overview on luxury resale, which is your core business. Just for investors less familiar with the resale subsector, could you speak to it at a high level as to w ...