
Roche's Susvimo maintains vision over five years with two refills per year in people with neovascular age-related macular degeneration (nAMD)
With two refills per year, Susvimo maintained vision and stabilised the retina for five years, with durability maintained in approximately 95% of patients
Susvimo was well tolerated over five years and has a well-characterised safety profile
Basel, 01 August 2025 – Roche (SIX: RO, ROG; OTCQX: RHHBY) announced today new, five-year efficacy, safety and durability data from the Phase III Portal study, a long-term extension of the Phase III Archway study, of Susvimo® (ranibizumab injection) for the treatment of people with nAMD.1 Results show that Susvimo's immediate and predictable durability was sustained over five years, with approximately 95% of people receiving treatment every six months requiring no supplemental treatment before each refill. The data were presented at the American Society of Retina Specialists (ASRS) 2025 Annual Meeting in Long Beach, California, United States.
'These long-term results reinforce Susvimo's ability to maintain vision and retinal drying over a long period of time for people with nAMD, the leading cause of vision loss in people over age 60,' said Levi Garraway, MD, PhD, Roche's chief medical officer and head of Global Product Development. 'These robust data reinforce our confidence in Susvimo's unique therapeutic approach, providing an effective alternative to regular eye injections while preserving vision in a sustained manner.'
'People with nAMD often experience suboptimal outcomes with real-world anti-VEGF treatment, largely due to the frequency of injections,' said study investigator John Kitchens, M.D., Retina Associates of Kentucky, who presented the data at ASRS. 'Continuous delivery of treatment with Susvimo may preserve vision in patients with nAMD for longer in real-world clinical use than IVT injections.'
In the Portal study (n = 352), people originally treated with Susvimo in Archway continued to receive Susvimo refills every six months (Susvimo cohort; n = 220), while those originally treated with monthly intravitreal (IVT) ranibizumab injections in Archway received Susvimo and then refills every six months (IVT-Susvimo cohort; n = 132).
Five-year results showed consistent and sustained disease control and retinal drying in a population who entered Archway with vision at or near peak levels after receiving an average of five intravitreal injections per standard of care. In the Susvimo cohort, best-corrected visual acuity (BCVA) was 74.4 letters at baseline and 67.6 letters at 5 years. In the IVT-Susvimo cohort, BCVA was 76.3 letters at baseline and 68.6 at 5 years. Half of all patients had better than 20/40 vision at five years (Snellen visual acuity test). Average central subfield thickness (CST) remained stable, with a 1.0 (95% CI: -13.1, 11.1) µm reduction from baseline in the Susvimo cohort, and a 10.3 (95% CI: -25.7, 5.0) µm reduction in the IVT-Susvimo cohort.
The cohort of people who entered the Portal study from Archway is the largest cohort of people with nAMD to be followed prospectively and continuously for five years in a clinical study.1
Susvimo provides continuous delivery of a customised formulation of ranibizumab via the Port Delivery Platform, while other currently approved treatments may require eye injections as often as once per month. The Port Delivery Platform is a refillable eye implant surgically inserted into the eye during a one-time, outpatient procedure, which introduces medicine directly into the eye, addressing certain retinal conditions that can cause vision loss.
About the Archway study and its open-label extension study (Portal)1,2
Archway (NCT03677934) was a randomised, multicentre, open-label phase III study evaluating the efficacy and safety of Susvimo refilled every six months at fixed intervals, compared to monthly IVT ranibizumab 0.5 mg in 415 people living with nAMD. Patients were randomized 3:2 to Susvimo (n = 248) or IVT ranibizumab injections (n = 167). Patients enrolled in Archway were responders to prior treatment with anti-VEGF therapy. In both study arms, patients were treated with at least three anti-VEGF injections within the six months prior to their Archway screening visit, with an average of five anti-VEGF injections before randomization. The primary endpoint of the study was the change in BCVA score from baseline at the average of Week 36 and Week 40. Secondary endpoints include safety, overall change in vision (BCVA) from baseline and change from baseline in centre point thickness over time. Patients who completed the study at week 96 were eligible to enter the Portal open-label extension study. In Portal, people originally treated with Susvimo in Archway continued to receive Susvimo refills every six months (Susvimo cohort), while those originally treated with monthly intravitreal (IVT) ranibizumab injections in Archway received the Susvimo implant and then refills every six months (IVT-Susvimo cohort). Portal is ongoing.
About neovascular age-related macular degeneration
Age-related macular degeneration (AMD) is a condition that affects the part of the eye that provides sharp, central vision needed for activities like reading.3 Neovascular or 'wet' AMD (nAMD) is an advanced form of the disease that can cause rapid and severe vision loss if left untreated.4,5 It develops when new and abnormal blood vessels grow uncontrolled under the macula, causing swelling, bleeding and/or fibrosis.5 Worldwide, around 20 million people are living with nAMD – the leading cause of vision loss in people over the age of 60 – and the condition will affect even more people around the world as the global population ages.3,6,7
About Susvimo® (Port Delivery System with ranibizumab)
Approved in the United States by the Food and Drug Administration (FDA) for nAMD, diabetic macular edema (DME) and diabetic retinopathy (DR), Susvimo is a refillable eye implant surgically inserted into the eye during a one-time, outpatient procedure.8,9 Susvimo continuously delivers a customised formulation of ranibizumab over time.8,9 Ranibizumab is a VEGF inhibitor designed to bind to and inhibit VEGF-A, a protein that has been shown to play a critical role in the formation of new blood vessels and the leakiness of the vessels.8-10
The customised formulation of ranibizumab delivered by Susvimo is different from the ranibizumab IVT injection, a medicine marketed as Lucentis® (ranibizumab injection)*, which is approved to treat nAMD and other retinal diseases.11
About Roche
Founded in 1896 in Basel, Switzerland, as one of the first industrial manufacturers of branded medicines, Roche has grown into the world's largest biotechnology company and the global leader in in-vitro diagnostics. The company pursues scientific excellence to discover and develop medicines and diagnostics for improving and saving the lives of people around the world. We are a pioneer in personalised healthcare and want to further transform how healthcare is delivered to have an even greater impact. To provide the best care for each person we partner with many stakeholders and combine our strengths in Diagnostics and Pharma with data insights from the clinical practice.
For over 125 years, sustainability has been an integral part of Roche's business. As a science-driven company, our greatest contribution to society is developing innovative medicines and diagnostics that help people live healthier lives. Roche is committed to the Science Based Targets initiative and the Sustainable Markets Initiative to achieve net zero by 2045.
Genentech, in the United States, is a wholly owned member of the Roche Group. Roche is the majority shareholder in Chugai Pharmaceutical, Japan.
For more information, please visit www.roche.com.
All trademarks used or mentioned in this release are protected by law.
*Lucentis® (ranibizumab injection) was developed by Genentech, a member of the Roche Group. Genentech retains commercial rights in the United States and Novartis has exclusive commercial rights for the rest of the world.
References[1] Kitchens J, et al. Five Year Outcomes in nAMD Patients Enrolled in the Archway Study and Treated With the PDS. Presented at: The American Society of Retina Specialists (ASRS) 2025 Annual Meeting; 2025 August 01; Long Beach, California, United States.[2] Regillo C, et al. Archway Phase 3 Trial of the Port Delivery System with Ranibizumab for Neovascular Age-Related Macular Degeneration 2-Year Results. Ophthalmology. 2023;130(7):735-747.[3] Bright Focus Foundation. Age-related macular degeneration (AMD): facts & figures. [Internet; cited July 2025]. Available from: https://www.brightfocus.org/macular/article/age-related-macular-facts-figures [4] Pennington KL, et al. Epidemiology of AMD: associations with cardiovascular disease phenotypes and lipid factors. Eye and Vision. 2016;3:34.[5] Little K, et al. Myofibroblasts in macular fibrosis secondary to nAMD – the potential sources and molecular cues for their recruitment and activation. EBioMedicine. 2018;38:283-91.[6] Connolly E, et al. Prevalence of AMD associated genetic risk factors and four-year progression data in the Irish population. British Journal of Ophthalmology. 2018 Feb;102:1691-95.[7] Wong WL, et al. Global prevalence of AMD and disease burden projection for 2020 and 2040: a systematic review and meta-analysis. The Lancet Global Health. 2014 Feb;2:106-16.[8] US Food and Drug Administration (FDA). Highlights of prescribing information, Susvimo. 2021. [Internet; cited July 2025]. Available from: https://www.accessdata.fda.gov/drugsatfda_docs/label/2021/761197s000lbl.pdf [9] Holekamp N, et al. Archway randomised phase III trial of the PDS with ranibizumab for neovascular age-related macular degeneration (nAMD). Ophthalmology. 2021.[10] Heier JS, et al. The angiopoietin/tie pathway in retinal vascular diseases: A review. The Journal of Retinal and Vitreous Diseases. 2021;41:1-19.[11] US FDA. Highlights of prescribing information, Lucentis. 2012. [Internet; cited April 2025]. Available from: https://www.accessdata.fda.gov/drugsatfda_docs/label/2012/125156s0069s0076lbl.pdf [12] US FDA. Highlights of prescribing information, Vabysmo. 2024. [Internet; cited April 2025]. Available from: https://www.accessdata.fda.gov/drugsatfda_docs/label/2024/761235s005lbl.pdf
[13] European Medicines Agency. Summary of product characteristics, Vabysmo. [Internet; cited April 2025]. Available from: https://www.ema.europa.eu/en/documents/product-information/vabysmo-epar-product-information_en.pdf
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Business Wire
7 hours ago
- Business Wire
WELL Health Reports Record Revenue, Adjusted EBITDA, and Adjusted Net Profit in Q2-2025, Upgrades Guidance, and Delivers First-Ever Quarter With More Than 1 Million Patient Visits in Canada
VANCOUVER, British Columbia--(BUSINESS WIRE)--WELL Health Technologies Corp. (TSX: WELL, OTCQX: WHTCF) (the ' Company ' or ' WELL '), a digital healthcare company focused on positively impacting health outcomes by leveraging technology to empower healthcare practitioners and their patients globally, is pleased to announce its interim consolidated financial results for the quarter ended June 30, 2025. Hamed Shahbazi, Chairman and CEO of WELL commented, 'I am very proud of our performance this quarter as it reflects a very significant milestone in our history with best-ever performances across most of our key financial metrics. We delivered record performances across Revenue, Adjusted EBITDA, Adjusted Net Income, and patient visits. Furthermore, we would have reported best-ever Free Cash Flow Available to Shareholders had we not had elevated cash taxes and capital expenditures due to new investments made in our Canadian clinics, executive health and longevity health portfolios, which have historically delivered excellent returns on capital invested (ROIC). Importantly, we also delivered $17M in IFRS net profit for the quarter demonstrating our ability to deliver on all key adjusted and non-adjusted metrics. I'm also very pleased to commemorate that we delivered more than 1 million patient visits in Canada during the quarter for the first time ever reflecting 38% YoY growth; approximately a third of which came from organic growth. It's important to remember the significance of each of those visits and how vital it can be to a person's health and wellness. This awareness, along with our growing scale and relevance in the healthcare ecosystem, is top of mind for us. We think about it every day as we are committed to making the investments that are designed to help healthcare providers deliver the best care and patient outcomes possible. One positive by-product of our investments is the growing productivity of our providers. The average provider at WELL grew its number of patient visits by 22%. While there are many contributors to this improvement, we believe improved tooling and technology to be one of those key reasons.' Mr. Shahbazi further added, "We are also very pleased to report our first quarter with the inclusion of HEALWELL AI, a company that we helped launch and incubate almost two years ago and in which we took a majority voting control position this past April. Yesterday HEALWELL reported record financial performance along with its first profitable quarter on an Adjusted EBITDA basis and signalled its intent to become a pure-play SaaS and Services company now that it has achieved significant scale in delivering data science and healthcare software expertise to large enterprise customers in 11 countries globally. In parallel, we continue to evaluate strategic alternatives for our U.S. assets to simplify our business and sharpen our focus on our core Canadian operations. Across the WELL ecosystem, our teams are focused on driving sustainable, profitable growth and delivering meaningful impact through technology, innovation, and operational excellence.' Eva Fong, WELL's Chief Financial Officer, commented, 'Our second quarter results demonstrate the strength of our operating model and disciplined approach to capital allocation. Year to date, we have completed fourteen transactions and are pleased to report fifteen signed LOIs representing approximately $134 million in revenues. Our high-quality pipeline of acquisition opportunities mostly includes targets across Canadian Clinics and WELLSTAR. Also, notably our WELLSTAR platform delivered another strong 'Rule of 40' performance with strong organic revenue growth and healthy Adjusted EBITDA margins, while executing on its M&A pipeline. WELLSTAR's goal is to exceed $100 million in revenues next year with continued strong margins and growth metrics. Overall, we remain committed to improving margin profile and operating leverage across the organization, while evaluating strategic opportunities to streamline and optimize our portfolio. With a strong balance sheet and increasing cash generation, we are well-positioned to support long-term growth and return value to shareholders.' Second Quarter 2025 Financial Highlights: WELL achieved record quarterly revenue of $356.7 million in Q2-2025, an increase of 57% compared to revenue of $227.3 million generated in Q2-2024. This growth was mainly driven by organic growth, acquisitions that have occurred over the last twelve months and the addition of $40.5 million of revenue in Q2-2025 from the inclusion of HEALWELL, as per IFRS reporting requirements following the company's execution of a call option to acquire voting shares of HEALWELL on April 1, 2025, relating to our majority voting position with HEALWELL. Excluding the impact of 'CM Deferrals', revenue would have reached $347.0 million, representing a 53% increase compared to the previous year. Adjusted Gross Profit (1) was $158.7 million in Q2-2025, an increase of 73% compared to Adjusted Gross Profit of $91.5 million in Q2-2024. Adjusted Gross Margin (1) percentage was 44.5% during Q2-2025 compared to Adjusted Gross Margin percentage of 40.3% in Q2-2024. The increase in Adjusted Gross Margin percentage was primarily driven by revenue mix and the addition of higher margin HEALWELL revenue, while being offset by the addition of lower margin Provider Staffing revenue from the acquisition of Harmony in January 2025. Adjusted EBITDA (1) was $49.7 million in Q2-2025, an increase of 231% compared to Adjusted EBITDA of $15.0 million in Q2-2024. Excluding the impact of CM Deferrals, Adjusted EBITDA would have reached $40.0 million, representing a 166% increase compared to the previous year. Adjusted EBITDA Attributable to WELL shareholders was $37.5 million in Q2-2025, an increase of 215% compared to Adjusted EBITDA Attributable to WELL shareholders of $11.9 million in Q2-2024. Adjusted Net Income (1) was $25.8 million, or $0.10 per share in Q2-2025, compared to Adjusted Net Income of $4.1 million, or $0.02 per share in Q2-2024. Free Cash Flow Available to Shareholders (or FCFA2S) was $11.7 million in Q2-2025 an increase of 34% compared to FCFA2S of $8.7 million in Q2-2024. Note that FCFA2S was impacted by elevated cash taxes and capital expenditures which were focused on investments in upgrading our clinical portfolio. Segmented Revenue: Canadian Patient Services revenue was $114.5 million in Q2-2025, an increase of 49% compared to $76.7 million in Q2-2024. U.S. Patient Services revenue was $184.8 million in Q2-2025, an increase of 38% compared to $133.7 million in Q2-2024. WELLSTAR, the Company's pure-play SaaS technology subsidiary, achieved revenue of $15.2 million in Q2-2025, an increase of 49% compared to $10.2 million in Q2-2024. WELLSTAR's growth was driven by healthy organic growth and acquisitions. Second Quarter 2025 Patient Visit Metrics: WELL achieved a total of 1.7 million patient visits in Q2-2025, an increase of 21% compared to 1.4 million patient visits in Q2-2024. Canadian Patient Services visits increased 38% while US Patient Services visits decreased 1%, on a year-over-year basis. Notably, the Company achieved over 1 million patient visits across its Canadian operations, a new quarterly milestone. Growth in patient visits over the past year was primarily driven by acquisitions as well as double-digit organic growth, including the clinic absorption program. In addition, WELL achieved over 2.7 million Care Interactions (2) in Q2-2025, representing approximately 10.8 million patient interactions on an annualized run-rate basis. Second Quarter 2025 Business Highlights: On April 1, 2025, the Company and the pre-HEALWELL founders amended the terms of the conditional call option held by the Company to acquire up to 30.8 million Class A Subordinate Voting Shares of HEALWELL at $0.125 per share and 30.8 million Class B Multiple Voting shares of HEALWELL at $0.0001 per share such that it became exercisable, and the Company exercised the call option to acquire such shares for total consideration of $3.9 million. On April 1, 2025, the release conditions were satisfied related to the Company's January 21, 2025, subscription for HEALWELL shares and the Company received 0.5 million Class A voting shares and 0.25 million share purchase warrants with each warrant exercisable into one Class A Subordinate Voting share at $2.50 per share for a period of 36 months in accordance with the terms of the subscription agreement. As of April 1, 2025, the Company held 97.2 million Class A Subordinate Shares and 30.8 million Class B Multiple Voting shares of HEALWELL, representing approximately 37% of the economic interest and approximately 69% of the voting rights in HEALWELL on a non-diluted basis. As a result, the Company obtained control of HEALWELL under IFRS, and accordingly, began to consolidate the financial results of HEALWELL as a subsidiary of the Company effective April 1, 2025. On May 6, 2025, the Company announced the rebranding of its cybersecurity division as CYBERWELL and the appointment of Jeffrey Engle as CEO. CYBERWELL consolidates four firms: Source44, SeekIntoo, Cycura, and Proack Security into a unified cybersecurity company. The division will focus on recurring revenue, acquisitions, and international expansion. WELL noted plans for CYBERWELL to potentially be spun out in the future and serve as a key growth engine. On May 7, 2025, WELLSTAR announced the launch of Nexus AI, a new AI-powered clinical documentation solution available across Canada. The product is initially focused on AI scribing and will expand through partnerships across the WELL ecosystem. Nexus AI is supported by government funding for up to 10,000 providers through Canada Health Infoway's AI Scribe pilot program. On May 28, 2025, the Company announced that subsidiaries of HEALWELL and WELLSTAR, Intrahealth, Pentavere, and OceanMD, were selected as recipients of Canada Health Infoway's 2025 Vendor Innovation Program. The program supports the development and implementation of real-world interoperability solutions aligned with national digital health priorities. The selected projects aim to enhance data quality, care coordination, and access to standardized health information across Canada, with deployments planned in five provinces. Three of the eight recipients are affiliated with the WELL and HEALWELL group. On June 24, 2025, the Company announced the availability of over 45,000 new primary care patient openings across its clinic network in Ontario, Alberta, and Manitoba. The expansion is enabled by investments in physician recruitment, including the onboarding of internationally trained medical graduates, and the implementation of digital infrastructure powered by WELLSTAR Technologies. The Company's National Patient Registration system, supported by OceanMD's eForms, online booking, and automated triage tools, is streamlining access and enabling clinics to accelerate the creation of new patient panels. Events Subsequent to June 30, 2025: On July 8, 2025, the Company announced the completion of two clinic acquisitions in British Columbia, effective July 1, 2025. The acquired clinics include a personalized health clinic in Vancouver and a multidisciplinary clinic in Burnaby, expanding the Company's presence in preventative health and specialty care. On July 8, 2025, the Company announced an expansion and extension of its senior secured credit facility, led by Royal Bank of Canada, increasing total capacity to approximately $200 million and extending the maturity to 2027. The revised facility converts the accordion feature into a revolving credit line, enhancing the Company's financial flexibility to support continued growth. On July 15, 2025, the Company announced that its majority-owned subsidiary, WELLSTAR Technologies Corp., executed three letters of intent for acquisitions expected to contribute approximately $15 million in ARR, $16 million in annual revenue, and over $5 million in Adjusted EBITDA on a run-rate basis. The targets deliver high-margin SaaS solutions that expand WELLSTAR's clinician enablement platform and support its strategy of disciplined, accretive growth. On July 16, 2025 HEALWELL acquired the remaining 49% of Pentavere Research Group Inc. ('Pentavere'), by exercising a call option that it had previously negotiated at the time of its original acquisition of a majority interest in Pentavere in 2023. Pursuant to the call option, HEALWELL acquired all of the remaining issued and outstanding shares of Pentavere for an aggregate purchase price of $13,978 which was satisfied with the issuance of 10,161,562 HEALWELL Class A Subordinate Voting Shares. With 100% ownership of Pentavere, HEALWELL intends to deepen integration between its AI businesses and accelerate commercialization of AI products across healthcare offerings. Outlook: WELL intends to continue its focus on maintaining strong performance, while strategically enhancing operations in the pursuit of organic growth and profitability. WELL is expecting its momentum to continue in the second half of the year across its key business units. WELL's objective is to invest in and achieve significant growth while effectively managing its costs and delivering cash flow to shareholders. Management is pleased to reaffirm its 2025 annual guidance for revenue to be between $1.40 billion to $1.45 billion, representing 52% to 58% annual growth compared to 2024. Excluding the impact of the CM Deferrals, the Company's annual revenue guidance would be between $1.35 billion to $1.40 billion. This annual revenue guidance only includes announced acquisitions; however, WELL expects to be in the upper half of this guidance range with the inclusion of planned acquisitions in the second half of the year. Furthermore, management is pleased to increase its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $190 million to $210 million. Excluding the impact of CM Deferrals, the Company is similarly improving its guidance for annual Adjusted EBITDA to be in the upper half of its previously provided guidance of $140 million to $160 million. This improvement of the Company's annual Adjusted EBITDA guidance only includes announced acquisitions. WELL continues to allocate capital thoughtfully in order to activate both organic and inorganic growth. The Company expects to continue to fund its acquisitions from its own cash flow as well as planned divestitures ensuring compounding gains over time on a per share basis. The Company also continues to focus most of its M&A and capital allocation activity in Canada where it is experiencing its strongest returns. Conference Call: WELL will release its Second Quarter 2025 financial results for the period ended June 30, 2025, on Thursday, August 14, 2025. The Company will hold a conference call and simultaneous webcast to discuss its results on the same day at 1:00 pm ET (10:00 am PT). Please use the following dial-in numbers: 1-800-717-1738 (Toll Free) or 1-289-514-5100 (International). The conference call will also be simultaneously webcast and can be accessed at the following audience URL: Selected Unaudited Financial Highlights: Please see SEDAR for complete copies of the Company's condensed interim consolidated financial statements and interim MD&A for the quarter ended June 30, 2025. Footnotes: Non-GAAP financial measures and ratios. In addition to results reported in accordance with IFRS, the Company uses certain non-GAAP financial measures as supplemental indicators of its financial and operating performance. These non-GAAP financial measures include Adjusted Net Income, Adjusted Net Income Per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow. The Company believes these supplementary financial measures reflect the Company's ongoing business in a manner that allows for meaningful period-to-period comparisons and analysis of trends in its business. Adjusted Net Income and Adjusted Net Income per Share The Company defines Adjusted Net Income as net income (loss), after excluding the effects of share-based payments, amortization of acquired intangible assets, time-based earnout expense, change in fair value of investments, change in fair value of derivative liability, non-controlling interests, and revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships. Adjusted Net Income Per Share is Adjusted Net Income divided by weighted average number of shares outstanding. The Company believes that these non-GAAP financial measures provide useful information to analyze our results, enhance a reader's understanding of past financial performance and allow for greater understanding with respect to key metrics used by management in decision making. More specifically, the Company believes Adjusted Net Income is a financial metric that tracks the earning power of the business that is available to WELL shareholders. EBITDA and Adjusted EBITDA EBITDA and Adjusted EBITDA are non-GAAP measures. EBITDA represents net income (loss) before interest, taxes, depreciation, and amortization. The Company defines Adjusted EBITDA as EBITDA (i) less net rent expense on premise leases considered to be finance leases under IFRS and (ii) before transaction, restructuring, and integration costs, time-based earn-out expense, change in fair value of investments, change in fair value of derivative liability, share of loss of associates, foreign exchange gain/loss, and share-based payments, (iii) revenue precluded from recognition under IFRS 15 that relates to certain patient services revenue that the Company believes should be recognized as revenue based on its contractual relationships, and (iv) gains/losses that are not reflective of ongoing operating performance. The Company considers Adjusted EBITDA a financial metric that measures cash that the Company can use to fund working capital requirements, service future interest and principal debt repayments and fund future growth initiatives. EBITDA and Adjusted EBITDA should not be considered alternatives to net income (loss), cash flow from operating activities or other measures of financial performance in accordance with IFRS. Adjusted Gross Profit and Adjusted Gross Margin The Company defines Adjusted Gross Profit as revenue less cost of sales (excluding depreciation and amortization) and Adjusted Gross Margin as adjusted gross profit as a percentage of revenue. Adjusted gross profit and adjusted gross margin should not be construed as an alternative for revenue or net income (loss) determined in accordance with IFRS. The Company does not present gross profit in its consolidated financial statements as it is a non-GAAP financial measure. The Company believes that adjusted gross profit and adjusted gross margin are meaningful metrics that are often used by readers to measure the Company's efficiency of selling its products and services. Adjusted Free Cash Flow The Company defines Adjusted Free Cash Flow Attributable to Shareholders as Adjusted EBITDA Attributable to Shareholders, less cash interest, less cash taxes and less capital expenditures. Adjusted Net income, Adjusted Net Income per Share, Adjusted EBITDA, Adjusted Gross Profit, Adjusted Gross Margin, and Adjusted Free Cash Flow are not recognized measures for financial statement presentation under IFRS and do not have standardized meanings. As such, these measures may not be comparable to similar measures presented by other companies and should be considered as supplements to, and not as substitutes for, or superior to, the corresponding measures calculated in accordance with IFRS. Total Care Interactions are defined as Total Patient Visits plus Technology Interactions plus Billed Provider Hours. WELL HEALTH TECHNOLOGIES CORP. Per: 'Hamed Shahbazi' Hamed Shahbazi Chief Executive Officer, Chairman and Director About WELL Health Technologies Corp. WELL's mission is to tech-enable healthcare providers. We do this by developing the best technologies, services, and support available, which ensures healthcare providers are empowered to positively impact patient outcomes. WELL's comprehensive healthcare and digital platform includes extensive front and back-office management software applications that help physicians run and secure their practices. WELL's solutions enable more than 34,000 healthcare providers between the US and Canada and power the largest owned and operated healthcare ecosystem in Canada with more than 165 clinics supporting primary care, specialized care, and diagnostic services. In the United States WELL's solutions are focused on specialized markets such as the gastrointestinal market, women's health, primary care, and mental health. WELL is publicly traded on the Toronto Stock Exchange under the symbol 'WELL' and on the OTC Exchange under the symbol 'WHTCF'. To learn more about WELL, please visit: Forward-Looking Statements This news release may contain 'Forward-Looking Information' within the meaning of applicable Canadian securities laws, including, without limitation: information regarding the Company's goals, strategies and growth plans, including expected acquisitions and divestitures Company and HEALWELL; expectations regarding continued revenue and EBITDA growth; the Company's expectations pertaining to annual guidance for annual revenue and Adjusted EBITDA; the expected benefits and synergies of completed acquisitions; capital allocation plans in the form of more acquisitions or share repurchases; expected patient visits; and the expected financial performance as well as information in the 'Outlook' section herein. Forward-Looking Information are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties, and contingencies. Forward-Looking Information generally can be identified by the use of forward-looking words such as 'may', 'should', 'will', 'could', 'intend', 'estimate', 'plan', 'anticipate', 'expect', 'believe' or 'continue', or the negative thereof or similar variations. Forward-Looking Information involve known and unknown risks, uncertainties and other factors that may cause future results, performance, or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by the Forward-Looking Information and the Forward-Looking Information are not guarantees of future performance. WELL's comments expressed or implied by such Forward-Looking Information are subject to a number of risks, uncertainties, and conditions, many of which are outside of WELL 's control, and undue reliance should not be placed on such information. Forward-Looking Information are qualified in their entirety by inherent risks and uncertainties, including: risks regarding the timing and amount of recognition or revenue and earnings; direct and indirect material adverse effects from adverse market conditions; risks inherent in the primary healthcare sector in general; regulatory and legislative changes; that future results may vary from historical results; inability to obtain any requisite future financing on suitable terms; any inability to realize the expected benefits and synergies of acquisitions; that market competition may affect the business, results and financial condition of WELL and other risk factors identified in documents filed by WELL under its profile at including its most recent Annual Information Form and its Management, Discussion and Analysis. Except as required by securities law, WELL does not assume any obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise. This news release contains future-oriented financial information and financial outlook information (collectively, 'FOFI') about estimated annual run-rate revenue and Adjusted EBITDA, all of which are subject to the same assumptions, risk factors, limitations, and qualifications as set out in the above paragraph. The actual financial results of WELL may vary from the amounts set out herein and such variation may be material. WELL and its management believe that the FOFI has been prepared on a reasonable basis, reflecting management's best estimates and judgments. However, because this information is subjective and subject to numerous risks, it should not be relied on as necessarily indicative of future results. Except as required by applicable securities laws, WELL undertakes no obligation to update such FOFI. FOFI contained in this news release was made as of the date hereof and was provided for the purpose of providing further information about WELL's anticipated future business operations on an annual basis. Readers are cautioned that the FOFI contained in this news release should not be used for purposes other than for which it is disclosed herein. Neither the TSX nor its Regulation Services Provider (as that term is defined in policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.
Yahoo
13 hours ago
- Yahoo
Zealand Pharma Announces Financial Results for the First Half of 2025
Company announcement – No. 18 / 2025 Zealand Pharma Announces Financial Results for the First Half of 2025Petrelintide collaboration with Roche off to a strong start, while key leadership appointments and solid financial position enable exciting next chapter for Zealand Pharma. Collaboration and license agreement with Roche to co-develop and co-commercialize petrelintide as a future foundational therapy for weight management off to a strong start, with further insight and updates expected at Roche's Pharma Day in September and Zealand Pharma's Capital Markets Day in December. Petrelintide program advancing at full speed, with ZUPREME Phase 2 trials progressing towards key milestones, and Roche breaking ground this August on new high-volume, high-throughput manufacturing facility dedicated to next-generation obesity medicines. Strengthening of leadership team to optimally position Zealand Pharma for future growth, with Utpal Singh as Chief Scientific Officer to drive the next wave of innovation and Steven Johnson as Chief Development Officer to spearhead development and regulatory strategies. Copenhagen, Denmark, August 14, 2025 – Zealand Pharma A/S (Nasdaq: ZEAL) (CVR-no. 20045078), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, today announced the interim report for the six months ended June 30, 2025, and provided a corporate update. Zealand Pharma ready for catalyst-rich and exciting chapter from position of strengthAdam Steensberg, President and Chief Executive Officer at Zealand Pharma said: 'I am very satisfied to see our historic and transformative collaboration with Roche on petrelintide off to a strong start and progressing at full speed. Our organizational strength and very solid financial position empower us to unlock the full value potential of petrelintide and to accelerate investments in the next wave of innovation. With petrelintide Phase 2 data and survodutide Phase 3 data in obesity rapidly approaching, we are entering a pivotal new chapter for the company.' Key financial results for H1 2025 DKK million H1-25 H1-24 Revenue 9,096 49 Operating expenses1 -9682 -559 Operating result 8,1282 -524 Net financial items -157 -1DKK million Jun-30,2025 Dec-31,2024 Cash position3 16,578 9,022 Notes:1. Operating expenses consist of R&D, S&M, and G&A. 2. Excluding transaction-related costs of DKK 196 million related to the Roche partnership agreement. Operating expenses including transaction fees in H1 2025 amount to DKK 1,164 million.3. Cash position includes cash, cash equivalents and marketable in the second quarter of 2025Obesity Petrelintide, amylin analog. In May 2025, Zealand Pharma announced the closing of the collaboration and license agreement with Roche. The two companies will co-develop and co-commercialize petrelintide and potential combination products, including petrelintide/CT-388, aiming to establish the leading amylin-based franchise for weight management and related indications. The companies will share profits and losses on a 50/50 basis for petrelintide and petrelintide/CT-388 in the U.S. and Europe, and Zealand Pharma is eligible to receive royalties on net sales in the rest of the world. Total deal consideration amounts to USD 5.3 billion, including upfront cash payments of USD 1.65 billion and potential development milestone payments of USD 1.2 billion, primarily linked to initiation of Phase 3 trials with petrelintide monotherapy. Petrelintide, amylin analog. In April 2025, Zealand Pharma initiated the Phase 2 ZUPREME-2 trial with petrelintide in people with overweight or obesity and type 2 diabetes, investigating the efficacy and safety of petrelintide over a treatment duration of 28 weeks. Petrelintide, amylin analog. In June 2025 at the American Diabetes Association's 85th Scientific Sessions in Chicago, Illinois, Zealand Pharma presented additional data from the 16-week Phase 1b trial showing greater weight loss efficacy in the few female participants. No differences were observed between females and males for any adverse events, including gastrointestinal. Dapiglutide, GLP-1/GLP-2 receptor dual agonist. Results from Part 1 of the Phase 1b trial investigating the efficacy and safety of dapiglutide over a treatment duration of 13 weeks were presented at the American Diabetes Association's 85th Scientific Sessions in Chicago, Illinois in June 2025. Dapiglutide, GLP-1/GLP-2 receptor dual agonist. In June 2025, Zealand Pharma announced positive topline results from Part 2 of the Phase 1b trial with higher doses of dapiglutide, demonstrating a placebo-adjusted weight loss of 11.4% from baseline after 28 weeks despite a relatively lean and almost entirely male trial population. Rare diseases Glepaglutide in SBS. In June 2025, Zealand Pharma submitted a Marketing Authorization Application (MAA) to the European Medicines Agency (EMA) for glepaglutide administered twice weekly for the treatment of adult patients with SBS. Corporate Appointed Utpal Singh as Chief Scientific Officer. Utpal joined the executive team in April 2025 to lead discovery research and translational sciences at Zealand Pharma. Utpal brings nearly 25 years of pharmaceutical industry experience spanning the full drug discovery and development lifecycle. Appointed Steven Johnson as Chief Development Officer. Steven joined the executive team in May 2025 to lead regulatory and development strategies at Zealand Pharma. Steven brings nearly 30 years of comprehensive global drug development experience, gained across leading pharmaceutical companies, contract research organizations, and the U.S. FDA. Upcoming events next 12 monthsObesity Petrelintide, amylin analog. In the first half of 2026, Zealand Pharma expects to report topline results from the Phase 2 ZUPREME-1 trial and complete the Phase 2 ZUPREME-2 trial with petrelintide. Petrelintide/CT-388, amylin+GLP-1/GIP fixed-dose combination. Zealand Pharma and Roche expect to initiate Phase 2 with petrelintide/CT-388 in the first half of 2026. Dapiglutide, GLP-1/GLP-2 receptor dual agonist. In the second half of 2025, Zealand Pharma expects to initiate a Phase 2 trial in a dedicated obesity-related comorbidity. Survodutide, glucagon/GLP-1 receptor dual agonist. Topline data from SYNCHRONIZETM-1 and SYNCHRONIZETM-2, the Phase 3 trials with survodutide in people with overweight or obesity without and with type 2 diabetes, respectively, are expected in the first half of 2026. Rare diseases Glepaglutide in SBS. In the second half of 2025, Zealand Pharma expects to initiate a Phase 3 clinical trial of glepaglutide (EASE-5) that is anticipated to provide further confirmatory evidence for a regulatory submission in the U.S. Following the submission of the MAA to the EMA in June 2025, the company expects potential regulatory approval in the EU in the first half of 2026. In parallel, the company is engaging in partnership discussions for future commercialization. Dasiglucagon in CHI. Zealand Pharma is ready to resubmit the New Drug Application for dasiglucagon for up to three weeks of dosing and to submit the requested analyses from existing continuous glucose monitoring datasets to support use beyond three weeks. The regulatory submissions are, however, contingent on an inspection classification upgrade of a third-party manufacturing facility. In parallel, Zealand Pharma is implementing a supply contingency plan, including the qualification of an alternative supplier to ensure that the product can be made available to patients in need as quickly as possible. Chronic inflammation ZP9830, Kv1.3 Ion Channel Blocker. Zealand Pharma expects to complete the first-in-human clinical trial with ZP9830 in the fourth quarter of 2025 and report topline data in the first half of 2026. Corporate Zealand Pharma Capital Markets Day. Zealand Pharma will host a Capital Markets Day in London on December 11, 2025. Speakers will include Management as well as external experts and thought leaders in obesity. Financial guidance for 2025 Guidance unchanged from February 20, 2025, excluding transaction-related costs associated with the Roche collaboration. DKK million 2025Guidance4,5 2024Actuals Revenue anticipated from existing and new license and partnership agreements No guidance 63 Net operating expenses 2,000-2,500 1,327 Notes:4. Excluding transaction-related costs related to the Roche collaboration.5. Financial guidance based on foreign exchange rates as of August 13, 2025. Conference call today at 2 PM CET / 8 AM ETZealand Pharma's management will host a conference call today at 2:00 PM CET / 8:00 AM ET to present results through the first half of 2025 followed by a Q&A session. Participating in the call will be Chief Executive Officer, Adam Steensberg; Chief Financial Officer, Henriette Wennicke; and Chief Medical Officer, David Kendall. The conference call will be conducted in receive telephone dial-in information and a unique personal access PIN, please register at The live listen-only audio webcast of the call and accompanying slides presentation will be accessible at Participants are advised to register for the call or webcast approximately 10 minutes before the start. A recording of the event will be available following the call on the Investor section of Zealand Pharma's website at Financial Calendar for 2025 Q3 2025 November 13, 2025 Q4/FY 2025 February 19, 2026About Zealand Pharma A/SZealand Pharma A/S (Nasdaq: ZEAL) is a biotechnology company focused on the discovery and development of peptide-based medicines. More than 10 drug candidates invented by Zealand Pharma have advanced into clinical development, of which two have reached the market and three candidates are in late-stage development. The company has development partnerships with a number of pharma companies as well as commercial partnerships for its marketed Pharma was founded in 1998 and is headquartered in Copenhagen, Denmark, with a presence in the U.S. For more information about Zealand Pharma's business and activities, please visit Forward-looking StatementsThis company announcement contains 'forward-looking statements', as that term is defined in the Private Securities Litigation Reform Act of 1995 in the United States, as amended, even though no longer listed in the United States this is used as a definition to provide Zealand Pharma's expectations or forecasts of future events regarding the research, development, and commercialization of pharmaceutical products, the timing of the company's clinical trials and the reporting of data therefrom and the company's significant events and potential catalysts in 2025 and financial guidance for 2025. These forward-looking statements may be identified by words such as 'aim,' 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'forecast,' 'goal,' 'intend,' 'may,' 'plan,' 'possible,' 'potential,' 'will,' 'would', and other words and terms of similar meaning. You should not place undue reliance on these statements, or the scientific data presented. The reader is cautioned not to rely on these forward-looking statements. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect, and which include, but are not limited to, unexpected costs or delays in clinical trials and other development activities due to adverse safety events or otherwise; unexpected concerns that may arise from additional data, analysis or results obtained during clinical trials; our ability to successfully market both new and existing products; changes in reimbursement rules and governmental laws and related interpretation thereof; government-mandated or market-driven price decreases for our products; introduction of competing products; production problems; unexpected growth in costs and expenses; our ability to effect the strategic reorganization of our businesses in the manner planned; failure to protect and enforce our data, intellectual property and other proprietary rights and uncertainties relating to intellectual property claims and challenges; regulatory authorities may require additional information or further studies, or may reject, fail to approve or may delay approval of our drug candidates or expansion of product labelling; failure to obtain regulatory approvals in other jurisdictions; exposure to product liability and other claims; interest rate and currency exchange rate fluctuations; unexpected contract breaches or terminations; inflationary pressures on the global economy; and political uncertainty. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. All such forward-looking statements speak only as of the date of this press release/company announcement and are based on information available to Zealand Pharma as of the date of this release/announcement. We do not undertake to update any of these forward-looking statements to reflect events or circumstances that occur after the date hereof. Information concerning pharmaceuticals (including compounds under development) contained within this material is not intended as advertising or medical Pharma® is a registered trademark of Zealand Pharma A/S. ContactsAdam LangeVice President, Investor RelationsZealand PharmaEmail: ALange@ Neshat AhmadiInvestor Relations ManagerZealand PharmaEmail: NeAhmadi@ Anna Krassowska, PhDVice President, Investor Relations & Corporate CommunicationsZealand PharmaEmail: AKrassowska@ Attachment Zealand Pharma H1 2025 Interim ReportError in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data


Associated Press
2 days ago
- Associated Press
Mabylon AG Raises CHF 30 Million to Advance Peanut Allergy Lead Program MY006 to Clinical Proof-of-Concept
Schlieren/Zurich, Switzerland, August 12, 2025 - Mabylon AG, a leader in the high-throughput discovery, characterization, and development of human-derived antibodies, today announced that it has raised a total of CHF 30 million (USD 37 million) to further develop its clinical-stage lead candidate MY006 and advance its early-stage pipeline. The funding combines a capital increase and a convertible loan of CHF 15 million, respectively. The funds are provided by Mabylon's existing private investors, with the major investment coming from former management and board members of Roche. The funding will allow Mabylon to advance its lead program MY006, a tri-specific antibody neutralizing peanut allergens, to completion of a Phase Ia/b trial in 2027 with the goal to generate robust safety and preliminary efficacy data. In addition, the funding will enable Mabylon to further develop its discovery and pre-clinical programs. These include MY010, a multi-specific and cross-reactive antibody targeting the birch Bet v 1 allergen, as well as all the major birch-related tree, fruit and nuts allergens. The funding will also support development of MY011, an antibody product for treating grass pollen allergies. At the shareholders' assembly, Dr. Thomas Hecht was elected as a new member of Mabylon's Board of Directors. He succeeds Prof. Adriano Aguzzi, whose term ended in June 2025. 'MY006 is a multi-specific anti-allergen antibody for the prophylactic treatment of peanut allergy, an indication with a high unmet medical need. The funds will enable Mabylon to reach clinical proof-of-concept and further advance its early-stage pipeline,' said Gottlieb Keller, Chairman of Mabylon's Board of Directors. 'I would like to thank Prof. Adriano Aguzzi for his contributions to the board and welcome Thomas Hecht as a new board member.' 'We are very pleased to have closed a CHF 30 million financing agreement in such a challenging global funding environment. This is a strong validation of our approach using human-derived, multi-specific antibodies for the treatment of allergies,' said Alcide Barberis, PhD, CEO of Mabylon. 'We also warmly welcome Dr. Thomas Hecht to our Board of Directors. He brings outstanding industry expertise and will help us advance and commercialize our pipeline of best-in-class allergen-neutralizing antibodies.' ### About Mabylon AG Mabylon is a Swiss biotechnology company harnessing the therapeutic potential of naturally occurring human antibodies to treat allergies, neurodegenerative diseases, and inflammation. Human-derived antibodies have superior therapeutic potential compared to antibodies derived from conventional sources, such as humanized animal models or artificial libraries. In the case of allergy, for instance, Mabylon's antibodies derived from allergic patients target disease-relevant epitopes, expanding the knowledge of novel allergenic epitopes and their role in disease progression. For more information, please visit Contact Alcide Barberis, CEO Mabylon AG Wagistrasse 14 8952 Schlieren (Zurich Area), Switzerland Media Inquiries akampion Dr. Ludger Wess / Ines-Regina Buth Managing Partners [email protected] Tel. +49 40 88 16 59 64 /Tel. +49 30 23 63 27 68