Start Time: 10:00 January 1, 0000 10:18 AM ET ACRES Commercial Realty Corp. (NYSE:ACR) Q4 2024 Earnings Conference Call March 06, 2025, 10:00 AM ET Matthew Erdner - Jones Trading Chris Muller - Citizens Bank Operator Please standby. Your program is about to begin. Good day, ladies and gentlemen. And welcome to the Fourth Quarter 2024 ACRES Commercial Realty Corp. earnings conference call. Currently, all participants are in a listen-only mode. Later, we will conduct a question and answer session, with instru ...

分组1 - ACRES Commercial reported quarterly earnings of $0.48 per share, exceeding the Zacks Consensus Estimate of $0.22 per share, but down from $0.55 per share a year ago, representing an earnings surprise of 118.18% [1] - The company posted revenues of $8.6 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 15.73%, and down from $13.36 million year-over-year [2] - Over the last four quarters, ACRES Commercial has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] 分组2 - The stock has increased approximately 26.9% since the beginning of the year, while the S&P 500 has declined by 1.8% [3] - The current consensus EPS estimate for the upcoming quarter is $0.10 on revenues of $10.3 million, and for the current fiscal year, it is $1.80 on revenues of $44.5 million [7] - The Zacks Industry Rank for REIT and Equity Trust is currently in the bottom 24% of over 250 Zacks industries, indicating potential challenges for the sector [8]

Financial Performance - ACRES Commercial Realty Corp. reported its operating results for the quarter and year ended December 31, 2024, on March 5, 2025[7]. - The company issued a press release and detailed presentation regarding its financial performance, which is available on its website[7]. - Specific financial metrics and user data were not provided in the extracted content, indicating a need for further details from the press release or earnings presentation[7]. Business Developments - The report does not mention any new product or technology developments, market expansions, or mergers and acquisitions[7]. Future Outlook - Future outlook and performance guidance were not detailed in the provided content, suggesting a review of the full earnings presentation is necessary for insights[7].

Core Viewpoint - ACRES Commercial Realty Corp. reported a GAAP net income of $4.1 million or $0.52 per diluted share for the quarter ended December 31, 2024, indicating a proactive management approach to enhance shareholder value and a focus on growing its loan portfolio in high-growth markets [1][2]. Financial Performance - For the quarter ended December 31, 2024, the company achieved a GAAP net income of $4.1 million, translating to $0.52 per diluted share [1]. - The company experienced a healthy amount of loan payoffs and renewed transactional activity in the real estate markets during 2024 [2]. Strategic Outlook - The company intends to grow its loan portfolio by investing with experienced sponsors in high-growth markets across the nation as it moves into 2025 [2]. - ACRES Commercial Realty Corp. is focused on originating, holding, and managing commercial real estate mortgage loans and equity investments through direct ownership and joint ventures [5]. Conference Call Information - A live conference call to discuss the fourth quarter 2024 operating results is scheduled for March 6, 2025, at 10:00 a.m. Eastern Time [3]. - For those unable to attend the live call, a replay will be available until March 20, 2025 [4].

Core Viewpoint - ACRES Commercial Realty Corp. will release its fourth quarter 2024 results on March 5, 2025, and will host a conference call on March 6, 2025, at 10:00 a.m. Eastern Time to discuss the results [1][2]. Company Overview - ACRES Commercial Realty Corp. is a real estate investment trust focused on originating, holding, and managing commercial real estate mortgage loans and equity investments [3]. - The company is externally managed by ACRES Capital, LLC, which specializes in nationwide middle market commercial real estate lending, particularly in multifamily, student housing, hospitality, industrial, and office properties in top U.S. markets [3].

Group 1 - The Company announced the authorization of an additional $5 million for its existing share repurchase program for both common and preferred stock [1] - The share repurchase will be conducted through various methods including open market purchases and privately-negotiated transactions, in compliance with federal securities laws [1] - The timing and amount of shares repurchased will be determined by the Company's management based on market conditions and other factors [2] Group 2 - ACRES Commercial Realty Corp. is a real estate investment trust focused on originating, holding, and managing commercial real estate mortgage loans and equity investments [3] - The Company is externally managed by ACRES Capital, LLC, which specializes in middle market commercial real estate lending across various property types in top U.S. markets [3]

Core Insights - Nektar Therapeutics presented preclinical data on NKTR-422, a novel modified hematopoietic colony stimulating factor, at the 2024 American College of Rheumatology conference, highlighting its potential in inflammation resolution and tissue repair [1][4]. Company Overview - Nektar Therapeutics is a clinical-stage biotechnology company focused on developing treatments for autoimmune and chronic inflammatory diseases, with its lead product candidate being rezpegaldesleukin (NKTR-358) [5]. Product Details - NKTR-422 is engineered to selectively modulate inflammation resolution by targeting anti-inflammatory tissue resident macrophages, showing promise in preclinical models for chronic inflammatory conditions [2][3]. - The drug has a differentiated pharmacokinetic and pharmacodynamic profile compared to native CSF-1, allowing for sustained activity from a single dose, unlike traditional multiple daily doses [3]. Clinical Potential - Early data suggest that NKTR-422 may enhance treatment efficacy and improve disease remission, particularly when used in combination with standard inflammatory cytokine blockade therapies [4].

Core Insights - ALLO-329 is an investigational allogeneic CAR T cell therapy targeting both CD19+ B cells and CD70+ activated T cells, showing promise in treating autoimmune diseases without lymphodepletion [1][2][4] - The company plans to submit an Investigational New Drug (IND) application for ALLO-329 in Q1 2025, with proof-of-concept expected by the end of 2025 [1][5] Group 1: ALLO-329 Mechanism and Technology - ALLO-329 utilizes proprietary Dagger® technology to overcome rejection and expand alloreactive T cells, potentially enhancing therapeutic benefits [1][3][6] - The therapy demonstrates high CAR expression and cytotoxic activity against both targeted cell types, indicating robust efficacy [4][5] - ALLO-329 effectively depletes B cells and reduces IgG and IgM production in preclinical models, suggesting a significant impact on autoimmune disease pathology [4][5] Group 2: Competitive Landscape and Development Plans - The CAR T therapy market for autoimmune diseases is competitive, with ALLO-329's dual targeting approach setting it apart by addressing a broader spectrum of immune dysfunction [4][6] - The company aims to provide "off-the-shelf" CAR T products, which could meet the substantial needs of a wide patient population [4][7]

Core Insights - Nurix Therapeutics, Inc. presented preclinical data on two drug candidates, NX-5948 and GS-6791, at ACR Convergence 2024, highlighting their potential in treating cancer and inflammatory diseases [1][2] Group 1: NX-5948 - NX-5948 is an orally available BTK degrader currently in a Phase 1b trial for B-cell malignancies and shows promise for treating inflammation and autoimmune diseases [1][5] - Preclinical data indicate that NX-5948 achieves superior suppression of BCR, TLR, and FcR signaling compared to existing BTK inhibitors, demonstrating efficacy in models of arthritis and other inflammatory diseases [2][4] - In models of collagen-induced arthritis, NX-5948 provided equal or superior clinical improvement and deeper suppression of plasma cell numbers compared to BTK inhibitors [2] Group 2: GS-6791 - GS-6791 is a selective, orally bioavailable degrader of IRAK4, developed in collaboration with Gilead Sciences for rheumatoid arthritis and other inflammatory diseases [1][6][7] - Preclinical data show that GS-6791 effectively inhibits IL-1 and TLR-induced cytokine release, demonstrating robust, dose-dependent efficacy in arthritis models [4][3] - The differentiated mechanism of action of GS-6791 compared to traditional kinase inhibitors positions it as a promising candidate for inflammatory conditions [3][4] Group 3: Company Overview - Nurix Therapeutics focuses on developing targeted protein modulation drugs for cancer and inflammatory diseases, leveraging its DELigase platform to create novel drug candidates [8] - The company aims to modulate cellular protein levels through E3 ligases, which play a crucial role in the ubiquitin-proteasome system [8] - Nurix's pipeline includes targeted protein degraders and inhibitors aimed at addressing significant challenges in treating autoimmune and inflammatory diseases [8]

Core Insights - Kronos Bio, Inc. is presenting preclinical data on its p300 KAT inhibitor program for autoimmune diseases at the ACR Convergence 2024, highlighting its potential to modulate pro-inflammatory signaling pathways [1][2] Group 1: Preclinical Data and Findings - The p300 KAT inhibitor KB-7898 has shown the ability to modulate the activity of multiple pro-inflammatory signaling pathways, which are crucial in chronic inflammatory diseases [2] - In ex vivo models, p300 KAT inhibition by KB-7898 resulted in a dose-dependent reduction of up to 50% in KLH-IgG production, indicating its effectiveness in blunting disease-related inflammation [3] - In a collagen-induced arthritis rat model, p300 KAT inhibition significantly decreased inflammation, as evidenced by reduced joint swelling, clinical scores, and histopathological assessments [3] Group 2: Strategic Alternatives and Future Directions - Kronos Bio is exploring strategic alternatives for its remaining preclinical assets, including potential partnerships for its p300 KAT inhibitor programs targeting both oncology and autoimmune diseases [5] - The oncology candidate KB-9558 is expected to be IND-ready by the end of 2024, while the autoimmune candidate KB-7898 has begun IND-enabling studies [5] Group 3: Company Overview - Kronos Bio focuses on developing small molecule therapeutics that target deregulated transcription, a key factor in cancer and autoimmune diseases [6] - The company utilizes a proprietary discovery engine to identify druggable cofactors within complex transcription factor regulatory networks [6]