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Genelux Corporation Reports First Quarter 2025 Financial Results and Provides General Business Updates
GlobeNewswire· 2025-05-06 20:10
Core Insights - Genelux Corporation reported a productive first quarter of 2025, establishing a strong foundation for advancing its lead product, Olvi-Vec, in various cancer indications [2][3] Pipeline Highlights - The FDA provided encouraging feedback on the OnPrime Phase 3 trial for Olvi-Vec in resistant/refractory ovarian cancer, indicating potential for traditional approval if a meaningful progression-free survival advantage is demonstrated [3] - Preliminary data from the Phase 1b/2 trial of Olvi-Vec in small cell lung cancer showed a 71% disease control rate, with significant tumor reductions observed in participants [4] - Patient enrollment is increasing in the ongoing Phase 2 trial for recurrent non-small cell lung cancer, with interim results expected in the second half of 2025 [5] Business Updates - Matthew Pulisic was appointed as the new Chief Financial Officer, bringing over 19 years of experience in the biopharmaceutical industry [6] - The company completed an underwritten offering of 3,000,000 shares at $3.50 per share, raising approximately $10.5 million to strengthen its balance sheet and extend its operational runway [7] Financial Results - As of March 31, 2025, cash, cash equivalents, and short-term investments totaled $35.1 million, expected to provide runway into the third quarter of 2026 [8] - Research and development expenses increased to $4.7 million from $4.0 million year-over-year, primarily due to higher clinical trial costs [9] - General and administrative expenses decreased to $3.1 million from $4.1 million year-over-year [10] - The net loss for the first quarter of 2025 was $7.5 million, or $0.21 per share, compared to a net loss of $7.9 million, or $0.29 per share, in the same period of 2024 [11]
Jin Medical International Ltd. – Nasdaq Minimum Bid Price Non-Compliance
GlobeNewswire· 2025-05-06 20:10
Core Viewpoint - Jin Medical International Ltd. has received a deficiency letter from Nasdaq regarding non-compliance with the minimum bid price requirement for its ordinary shares, which must be at least $1.00 per share for continued listing on The Nasdaq Capital Market [1][2]. Compliance Status - The deficiency notice does not immediately affect the listing status of the ordinary shares, and the company has a compliance period of 180 calendar days, until October 29, 2025, to regain compliance [2][3]. - If the closing bid price reaches or exceeds $1.00 for a minimum of 10 consecutive business days before the deadline, the company will be notified of compliance [2]. Reverse Stock Split - The company may implement a reverse stock split to regain compliance, which must be completed no later than ten business days prior to October 29, 2025 [2][4]. - If the company fails to regain compliance within the initial 180-day period, it may be eligible for an additional compliance period, provided it meets other listing requirements [3][4]. Company Overview - Jin Medical International Ltd. was founded in 2006 and is headquartered in Changzhou, Jiangsu Province, China, focusing on designing, developing, manufacturing, and marketing wheelchairs and living aids for people with disabilities and the elderly [5]. - The company operates two manufacturing plants totaling approximately 230,000 square feet and is establishing a new facility of 430,000 square feet in Chuzhou, Anhui Province [5]. - Jin Medical has over 40 distributors in China and more than 20 international distributors, with a significant portion of its wheelchair products sold to Japan and China [5].
NewtekOne, Inc. Reports Basic and Diluted EPS of $0.36 and $0.35 for the Three Months Ended March 31, 2025
GlobeNewswire· 2025-05-06 20:10
Core Viewpoint - NewtekOne, Inc. reported strong financial results for the first quarter of 2025, with diluted earnings per share (EPS) of $0.35, exceeding the projected range of $0.28 to $0.32, despite a challenging economic environment and increased loan loss provisions [1][4]. Financial Highlights for 1Q25 - Basic EPS was $0.36 and diluted EPS was $0.35, compared to $0.38 for both in 1Q24 [5]. - Book value per common share increased to $10.73, reflecting a year-over-year growth of 13.2% and a quarter-over-quarter growth of 2.0% [5]. - Tangible book value per common share rose to $10.17, up 23.0% year-over-year and 8.3% quarter-over-quarter [5]. - Net income before taxes for 1Q25 was approximately $11.6 million, down 11.1% from $13.1 million in 1Q24 [5]. - Pre-provision net revenue (PPNR) was approximately $25.2 million, an increase of 47.0% year-over-year from $17.1 million in 1Q24 [5]. - The efficiency ratio improved to 62.1%, down from 70.6% in 1Q24 [5]. - Return on average assets (ROAA) was 1.81%, with EPS guidance implying a 2025 ROAA range of 2.2%-2.7% [5]. - Return on average equity (ROAE) was 12.7%, with guidance suggesting a 2025 ROAE range of 17.2%-20.2% [5]. - Return on average tangible common equity (ROTCE) was 13.9%, with guidance indicating a 2025 ROTCE range of 18.7%-22.0% [5]. Lending and Other Select Highlights for 1Q25 - SBA 7(a) loan originations were approximately $213.4 million, compared to $211.5 million in 1Q24 [5]. - Alternative Loan Program (ALP) loan originations totaled $68.5 million for 1Q25 [5]. - SBA 504 loan originations were roughly $16.9 million, with $12.9 million in SBA 504 loan sales executed [5]. - Newtek Bank originated $41.2 million in commercial real estate (CRE) loans and $22.7 million in commercial and industrial (C&I) loans held for investment in 1Q25 [5]. - Commercial deposits at Newtek Bank increased by $28 million, or 12% quarter-over-quarter, while core consumer deposits grew by $17 million, or 2% quarter-over-quarter [5]. Post 1Q25 Highlights and 2025 Forecasts - The company forecasts annual EPS in a range of $2.10 to $2.50 for 2025, implying a 17% growth in EPS despite a projected near-doubling of the loan loss provision [4]. - The company continues to expect a material reduction in the drag from its Newtek Small Business Finance (NSBF) subsidiary, with losses decreasing more than 50% quarter-over-quarter [6]. - The NSBF portfolio now constitutes 21% of total loans, down from 41% a year ago, indicating a positive trend in loan quality [6]. - The company emphasizes its unique approach as a financial holding company, leveraging non-bank subsidiaries to generate significant earnings [6].
One Liberty Properties Reports First Quarter 2025 Results
GlobeNewswire· 2025-05-06 20:10
Core Viewpoint - One Liberty Properties, Inc. is focusing on enhancing its portfolio by increasing its industrial assets, which now account for approximately 75% of its base rent, while also managing sales of non-industrial properties to stabilize cash flow in uncertain economic conditions [2][3]. Financial Performance - Rental income increased by 7.7% to $24.2 million in Q1 2025 from $22.4 million in Q1 2024, primarily due to the acquisition of seven industrial properties [3]. - Total operating expenses rose to $15.7 million in Q1 2025 from $14.5 million in Q1 2024, driven by higher real estate expenses and increased depreciation and amortization [4]. - Net income attributable to One Liberty was $4.2 million, or $0.18 per diluted share, in Q1 2025, down from $5.2 million, or $0.23 per diluted share, in Q1 2024 [5]. - Funds from Operations (FFO) remained stable at $9.6 million, or $0.44 per diluted share, compared to $9.6 million, or $0.45 per diluted share, in the prior year [6]. Transactions - The company completed the acquisition of four industrial properties for $88.3 million, incurring new mortgage debt of $52.1 million at a weighted average interest rate of 6.2% [9]. - Two non-industrial assets were sold for a gross sales price of $3.7 million, resulting in a gain of $1.1 million [11]. Balance Sheet - As of March 31, 2025, One Liberty had total assets of $811.7 million, total debt of $471 million, and stockholders' equity of $303.2 million [12]. - The company reported $8.2 million in cash and cash equivalents, with available liquidity of $96.4 million as of May 1, 2025 [12]. Non-GAAP Financial Measures - Adjusted Funds from Operations (AFFO) for Q1 2025 was $10.5 million, or $0.48 per diluted share, compared to $10.2 million, or $0.48 per diluted share, in Q1 2024 [6][25].
Artesian Resources Corporation Announces 2% Increase in Quarterly Common Stock Dividend
GlobeNewswire· 2025-05-06 20:10
Core Points - Artesian Resources Corporation has approved a 2% increase in the quarterly dividend per share, raising the annualized dividend to $1.2296 per share [1][2] - The quarterly dividend rate is now $0.3074 per share, payable on May 27, 2025, to shareholders of record as of May 16, 2025 [1] - This marks the 130th consecutive dividend paid to shareholders, reflecting the company's commitment to returning value to investors [2] Company Overview - Artesian Resources Corporation operates as a holding company for wholly-owned subsidiaries that provide water and wastewater services on the Delmarva Peninsula [3] - The principal subsidiary, Artesian Water Company, is the oldest and largest regulated water utility in the region, supplying 9.5 billion gallons of water annually through 1,491 miles of water main to over a third of Delaware's population [3]
Prospect Capital Schedules Third Fiscal Quarter Earnings Release and Conference Call
GlobeNewswire· 2025-05-06 20:10
Core Points - Prospect Capital Corporation is set to file its Form 10-Q report for the fiscal quarter ending March 31, 2025, on May 8, 2025, and will issue an earnings press release after market close on the same day [1] - A conference call is scheduled for May 9, 2025, at 9:00 a.m. Eastern Time, with a dial-in number provided for participants [2] - The conference call will also be accessible via a live listen-only webcast on the company's website [3] Company Overview - Prospect Capital Corporation is a business development company that focuses on lending to and investing in private businesses, aiming to generate current income and long-term capital appreciation through debt and equity investments [4] - The company has elected to be treated as a business development company under the Investment Company Act of 1940 and as a regulated investment company under the Internal Revenue Code of 1986 [4]
Hudson Global to Report First Quarter 2025 Financial Results on May 13th
GlobeNewswire· 2025-05-06 20:10
Group 1 - Hudson Global, Inc. will release its first quarter financial results for the period ended March 31, 2025, before the market opens on May 13, 2025 [1] - A conference call to discuss the financial results will take place on the same day at 10:00 am ET [1] - The call will be accessible via dial-in and a simultaneous webcast on the company's investor relations website [1] Group 2 - Hudson Global, Inc. operates as a leading global total talent solutions provider under the brand name Hudson RPO [2] - The company offers customized recruitment outsourcing and total talent solutions to organizations worldwide [2] - Hudson Global focuses on developing tailored talent solutions to align with clients' strategic growth initiatives [2]
SI-BONE To Present at BofA Securities 2025 Healthcare Conference on May 13, 2025
GlobeNewswire· 2025-05-06 20:09
Company Overview - SI-BONE, Inc. is a medical device company focused on addressing sacropelvic disorders and is recognized as a global leader in developing surgical technologies for these conditions [3] - The company pioneered minimally invasive SI joint surgery in 2009 and has supported over 4,500 physicians in performing more than 120,000 procedures [3] - SI-BONE has established a strong clinical evidence base, including two randomized controlled trials and over 160 peer-reviewed publications [3] Upcoming Event - SI-BONE will participate in the 2025 BofA Securities Healthcare Conference in Las Vegas, with a fireside chat scheduled for May 13, 2025, at 8:40 a.m. Pacific Time [1] - Investors can listen to the conference call by registering online, and a live audio webcast will be available on the company's website [2]
Pennant Reports First Quarter 2025 Results
GlobeNewswire· 2025-05-06 20:08
Core Viewpoint - The Pennant Group, Inc. reported strong operating results for the first quarter of 2025, with significant increases in revenue, net income, and adjusted earnings per share, indicating positive momentum across its home health, hospice, and senior living segments [1][4][5]. Financial Performance - Total revenue for Q1 2025 was $209.8 million, a 33.7% increase from $156.9 million in Q1 2024 [4][19]. - Net income for Q1 2025 was $7.8 million, up 58.5% from $5.1 million in Q1 2024 [4][12]. - Adjusted net income for Q1 2025 was $9.6 million, reflecting a 61.4% increase from $5.9 million in Q1 2024 [4][30]. - GAAP diluted earnings per share were $0.22, compared to $0.16 in the prior year [1][12]. - Adjusted diluted earnings per share were $0.27, up from $0.20 in Q1 2024 [1][30]. Segment Performance - Home Health and Hospice Services segment revenue was $159.9 million, a 37.2% increase from $116.5 million in Q1 2024 [4][19]. - Senior Living Services segment revenue reached $50.0 million, a 23.6% increase from $40.4 million in Q1 2024 [4][24]. - Total home health admissions increased by 28.9% to 18,878, while Medicare home health admissions rose by 19.7% to 7,599 [4][22]. - Hospice average daily census increased by 28.1% to 3,794 [4][22]. - Senior Living average monthly revenue per occupied room increased by 11.3% to $5,193 [4][24]. Operational Highlights - Consolidated Adjusted EBITDAR for Q1 2025 was $28.0 million, a 31.0% increase from $21.4 million in Q1 2024 [4][35]. - Consolidated Adjusted EBITDA for Q1 2025 was $16.4 million, reflecting a 45.9% increase from $11.2 million in Q1 2024 [4][35]. - The company emphasized ongoing investments in leadership development as a key driver of operational success [4][5]. Future Outlook - The company plans to discuss its financial results in a live webcast scheduled for May 7, 2025, indicating a commitment to transparency and investor engagement [1][6].
Supernus Announces First Quarter 2025 Financial Results
GlobeNewswire· 2025-05-06 20:08
First quarter 2025 net sales of Qelbree® increased 44% to $64.7 million, compared to the same period in 2024.First quarter 2025 net sales of GOCOVRI® increased 16% to $30.7 million, compared to the same period in 2024.First quarter 2025 total revenues increased 4% to $149.8 million, compared to the same period in 2024. First quarter 2025 total revenues excluding Trokendi XR® and Oxtellar XR® net sales (non-GAAP)(1) increased 26% compared to the first quarter of 2024.First quarter 2025 operating loss of $(10 ...