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Business Wire
an hour ago
- Automotive
- Business Wire
Asbury Automotive Group Completes Acquisition of Herb Chambers Dealerships
DULUTH, Ga.--(BUSINESS WIRE)--Asbury Automotive Group, Inc. (NYSE: ABG) (the 'Company'), one of the largest automotive retail and service companies in the U.S., has completed the acquisition of The Herb Chambers Companies (HCC), the sixteenth largest by revenue privately-owned dealership group in the country. 'We're thrilled to complete the acquisition of The Herb Chambers Companies' assets and operations,' said David Hult, Asbury's President & CEO. 'Herb redefined the car-buying experience in New England, making 'Herb Chambers' a household name, synonymous with reliability and service. The HCC team is well known for its guest-centric focus and community involvement, and we are proud to welcome the team to the Asbury family.' 'Over the past decade, I have been approached by several companies interested in acquiring my organization. Throughout it all, the opportunity and well-being of the Chambers team remained my top priority. Without question, Asbury stood out as the ideal steward. Their leadership – especially under David Hult – is, without a doubt, the best in the industry,' said Herb Chambers, founder of The Herb Chambers Companies. This acquisition further diversifies Asbury's geographic mix with entry into the Northeastern United States. The purchase of this flagship New England Region company is one of the most sizable in U.S. automotive retail history, representing $3.2 billion in revenue in 2024, and includes 33 dealerships, 52 franchises, and three collision centers. The Herb Chambers Companies sold approximately 50,000 new and used vehicles during the year ended December 31, 2024. The aggregate net purchase price was $1.45 billion, which includes $750 million for goodwill, approximately $610 million for the real estate and leasehold improvements, and approximately $85 million for new vehicles, used vehicles, service loaner vehicles, fixed assets, parts and supplies, which is net of non-manufacturer floorplan of $375 million. Asbury primarily funded the acquisition with a combination of credit facility capacity, mortgage proceeds and cash. For additional information, please see the Form 8-K that will be filed in connection with this transaction. Advisors Jones Day and Hill Ward Henderson served as legal counsel, Baker Tilly served as the transaction advisory firm, and BofA Securities served as financial advisor to Asbury; Wells Fargo served as lead for the syndicated mortgage facility. Stephens Inc. served as financial advisor and Simpson Thacher and WilmerHale served as legal counsel to HCC. About The Herb Chambers Companies Founded in 1985, The Herb Chambers Companies is one of the nation's largest private auto dealership groups and one of the leading automotive retailers in the New England region. HCC employs more than 2,200 people in locations throughout Massachusetts and Rhode Island, with most of its dealerships located in and around Boston. Herb Chambers is consistently named as one of the Boston Globe's "Top Places to Work." About Asbury Automotive Group, Inc Asbury Automotive Group, Inc. (NYSE: ABG), a Fortune 500 company headquartered in Duluth, GA, is one of the largest automotive retailers in the U.S. In late 2020, Asbury embarked on a multi-year plan to increase revenue and profitability strategically through organic operations, acquisitive growth and innovative technologies, with its guest-centric approach as Asbury's constant North Star. As of June 30, 2025, Asbury operated 145 new vehicle dealerships, consisting of 189 franchises and representing 31 domestic and foreign brands of vehicles. Asbury also operates Total Care Auto, Powered by Landcar, a leading provider of service contracts and other vehicle protection products, and 37 collision repair centers. Asbury offers an extensive range of automotive products and services, including new and used vehicles; parts and service, which includes vehicle repair and maintenance services, replacement parts and collision repair services; and finance and insurance products, including arranging vehicle financing through third parties and aftermarket products, such as extended service contracts, guaranteed asset protection debt cancellation, and prepaid maintenance. Asbury is recognized as one of America's Fastest Growing Companies 2024 by the Financial Times and the Company is listed in World's Most Trustworthy Companies 2024 by Newsweek. For additional information, visit Forward-Looking Statements This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans, objectives, beliefs, expectations and assumptions regarding the expected benefits of the recently completed acquisition of the Herb Chambers dealerships and performance, integration plans and expected synergies from the acquisition. The following are some but not all of the factors that could cause actual results or events to differ materially from those anticipated, including: risks related to our failure to realize the benefits expected from the acquisition; failure to promptly and effectively integrate the acquisition; disruption of management time from ongoing business operations due to the integration activities related to the acquisition; identification and remediation of insufficient control activities of the acquired business; the effect of the acquisition on the ability of Asbury to retain and hire key personnel and maintain relationships with suppliers; our ability to execute our business strategy; and other risks described from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2025 and subsequent filings. These forward-looking statements and such risks, uncertainties and other factors speak only as of the date of this press release. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise.
New Paper
2 days ago
- Health
- New Paper
Singapore AI system may help predict liver cancer recurrence
A scoring system powered by artificial intelligence (AI) that was developed by researchers here could help predict the recurrence of a common form of liver cancer. Developed by scientists from A*Star's Institute of Molecular and Cell Biology (IMCB) and Singapore General Hospital (SGH), the system can predict relapses of hepatocellular carcinoma (HCC). Affecting more than 20 out of every 100,000 people here annually, HCC is the fourth-most-common cancer among men in Singapore, as well as the third-most-common cause of cancer deaths among males here. The Tumour Immune Microenvironment Spatial (Times) score analyses the precise spatial distribution, or the exact location, of immune cells called natural killer (NK) cells and five specific genes within liver tumour tissues. NK cells are a type of white blood cell that destroys diseased cells, such as cancer cells, and a lower number of NK cells is an indicator of a higher risk of relapse. "Instead of just counting how many NK cells are present, we analyse exactly where they are positioned relative to the cancer cells," said Dr Joe Yeong, a principal investigator at both A*Star IMCB and SGH's anatomical pathology department. "By understanding how NK cells are distributed and how they interact with cancer cells - for example, whether they are close enough to attack the cancer effectively - we can predict the likelihood of cancer returning after surgery," said Dr Yeong, one of the study's authors. Identifying these spatial patterns allows Times to predict the risk of recurrence with about 82 per cent accuracy. Existing staging methods - frameworks that evaluate how advanced the cancer is, allowing doctors to recommend the most suitable treatments - vary in their accuracy. Dr Yeong - who is also director of immunopathology at the SingHealth Duke-NUS Pathology Academic Clinical Programme - noted that up to 70 per cent of liver cancer patients experience recurrence within five years. An accurate prediction method would allow doctors to more easily identify patients at greater risk of cancer recurrence, he said. "Times offers a significant advancement in predicting these outcomes, enabling clinicians to intervene at the earliest possible stage. This can significantly enhance patient care and improve survival outcomes." He noted that the precision medicine approach seeks to tailor treatments that meet patients' specific needs, based on factors such as genetics and lifestyle. Even though a large proportion of liver cancer patients experience relapses, it is not viable to offer all of them therapeutics as it would be very costly to them, Dr Yeong said. Getting an accurate prediction of their risks would help optimise the costs to patients, he added. AI was used to analyse vast amounts of data, with more than 100 trillion data points gathered from liver tumour samples, as well as create a scoring system tailored to Asian patients. It is also currently being used to refine the Times score for clinical use, Dr Yeong said. "By automating the analysis of patients' surgical tissue samples, AI ensures the process is efficient and consistent, paving the way for integration into routine clinical workflows, such as through a potential diagnostic test kit," he added. The study was the cover story for the April 15, 2025, issue of the peer-reviewed scientific journal Nature. Ms Denise Goh, the study's co-first author, said the Times scoring system "transforms routine tissue slides into powerful predictive tools". "By identifying patients at higher risk of relapse, we can proactively alter treatment strategies and monitoring, potentially saving more lives," said the senior research officer at A*Star IMCB. The researchers validated the accuracy of the Times system using samples from 231 patients across five hospitals in Singapore and China. The technology is now accessible through a free web portal for research use, with plans under way to integrate Times into routine clinical workflows. The team is planning further studies at SGH and the National Cancer Centre Singapore to validate the technology, scheduled to begin later in 2025. Discussions are ongoing with partners to develop Times into a clinically approved diagnostic test kit.
Straits Times
2 days ago
- Health
- Straits Times
AI system developed in Singapore could help predict liver cancer recurrence
Find out what's new on ST website and app. Dr Joe Yeong is a co-author of the study published in the peer-reviewed scientific journal Nature. SINGAPORE - A scoring system powered by artificial intelligence (AI) that was developed by researchers here could help predict the recurrence of a common form of liver cancer. Developed by scientists from A*Star's Institute of Molecular and Cell Biology (IMCB) and Singapore General Hospital (SGH), the system can predict relapses of hepatocellular carcinoma (HCC). Affecting more than 20 out of every 100,000 people here annually, HCC is the fourth-most-common cancer among men in Singapore, as well as the third-most-common cause of cancer deaths among males here. The Tumour Immune Microenvironment Spatial (Times) score analyses the precise spatial distribution, or the exact location, of immune cells called natural killer (NK) cells and five specific genes within liver tumour tissues. NK cells are a type of white blood cell that destroys diseased cells, such as cancer cells, and a lower number of NK cells is an indicator of a higher risk of relapse. 'Instead of just counting how many NK cells are present, we analyse exactly where they are positioned relative to the cancer cells,' said Dr Joe Yeong, a principal investigator at both A*Star IMCB and SGH's anatomical pathology department. 'By understanding how NK cells are distributed and how they interact with cancer cells – for example, whether they are close enough to attack the cancer effectively – we can predict the likelihood of cancer returning after surgery,' said Dr Yeong, one of the study's authors. Top stories Swipe. Select. Stay informed. Singapore Mindef, SAF units among those dealing with attack on S'pore's critical information infrastructure Asia How China's growing cyber-hacking capabilities have raised alarm around the world Asia At least 34 killed as tourist boat capsizes in Vietnam's Halong Bay Singapore 1 dead, 1 injured after dispute between neighbours at Yishun HDB block Singapore Vessels from Navy, SCDF and MPA to debut at Marina Bay in NDP maritime display Asia Autogate glitch at Malaysia's major checkpoints causes chaos for S'porean and foreign travellers Asia SIA, Scoot, Cathay Pacific cancel flights as typhoon nears Hong Kong Singapore A deadly cocktail: Easy access, lax attitudes driving Kpod scourge in S'pore Identifying these spatial patterns allows Times to predict the risk of recurrence with about 82 per cent accuracy. Existing staging methods – frameworks that evaluate how advanced the cancer is, allowing doctors to recommend the most suitable treatments – vary in their accuracy. Dr Yeong – who is also director of immunopathology at the SingHealth Duke-NUS Pathology Academic Clinical Programme – noted that up to 70 per cent of liver cancer patients experience recurrence within five years. An accurate prediction method would allow doctors to more easily identify patients at greater risk of cancer recurrence, he said. 'Times offers a significant advancement in predicting these outcomes, enabling clinicians to intervene at the earliest possible stage. This can significantly enhance patient care and improve survival outcomes.' He noted that the precision medicine approach seeks to tailor treatments that meet patients' specific needs, based on factors such as genetics and lifestyle. Even though a large proportion of liver cancer patients experience relapses, it is not viable to offer all of them therapeutics as it would be very costly to them, Dr Yeong said. Getting an accurate prediction of their risks would help optimise the costs to patients, he added. AI was used to analyse vast amounts of data, with more than 100 trillion data points gathered from liver tumour samples, as well as create a scoring system tailored to Asian patients. It is also currently being used to refine the Times score for clinical use, Dr Yeong said. 'By automating the analysis of patients' surgical tissue samples, AI ensures the process is efficient and consistent, paving the way for integration into routine clinical workflows, such as through a potential diagnostic test kit,' he added. The study was the cover story for the April 15, 2025, issue of the peer-reviewed scientific journal Nature. Ms Denise Goh, the study's co-first author, said the Times scoring system 'transforms routine tissue slides into powerful predictive tools'. 'By identifying patients at higher risk of relapse, we can proactively alter treatment strategies and monitoring, potentially saving more lives,' said the senior research officer at A*Star IMCB. The researchers validated the accuracy of the Times system using samples from 231 patients across five hospitals in Singapore and China. The technology is now accessible through a free web portal for research use, with plans under way to integrate Times into routine clinical workflows. The team is planning further studies at SGH and the National Cancer Centre Singapore to validate the technology, scheduled to begin later in 2025. Discussions are ongoing with partners to develop Times into a clinically approved diagnostic test kit.
Yahoo
3 days ago
- Business
- Yahoo
This ‘Strong Buy' Stock Could Be the Next Big Biotech Breakout
Clinical-stage biotech stocks carry significant risks, but also offer explosive upside potential. These companies are built around early stage innovations that, if successful, can evolve into billion-dollar therapies or entire treatment platforms. The company's valuation at this stage is less dependent on fundamentals like revenue or profit and instead hinges on scientific milestones, meaning a single clinical trial result or regulatory approval can send the stock soaring. Valued at $212 million, Tvardi Therapeutics (TVRD) is a clinical-stage biopharmaceutical company developing oral small-molecule drugs targeting STAT3, a protein linked to fibrosis and certain cancers when overactive. Following its merger with Cara Therapeutics, Tvardi has rapidly gained traction in the biotech space. More News from Barchart Insider Trading Alert: Here's Who Bought Nvidia and AMD Stock Before the U.S. Chip Deal with China Dear Tesla Stock Fans, Mark Your Calendars for July 23 Robinhood Keeps Hitting New Highs. How Should You Play HOOD Stock Here? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. The stock is already up 32% in the year to date, and analysts believe it still has substantial room to run. Setting the Stage for a Strong Pipeline The company's lead candidate, TTI-101, is an oral pill that is designed to block overactive STAT3. It is currently in Phase 2 trials for Idiopathic Pulmonary Fibrosis (IPF), a serious lung-scarring disease, and Hepatocellular Carcinoma (HCC), a type of liver cancer. The REVERT IPF Phase 2 trial is evaluating the efficacy of TTI-101 alone and in combination with the approved drug nintedanib to treat patients with IPF, a progressive and often fatal lung disease with few treatment options. The company completed enrollment for the Phase 2 trial at the end of May and expects top-line data by the fourth quarter of this year. Success in this trial would validate oral STAT3 as a therapeutic mechanism and provide momentum for additional indications such as HCC. What's noteworthy is that the U.S. Food and Drug Administration (FDA) has designated TTI-101 as an orphan drug in both IPF and HCC. This designation is given to drugs that treat rare diseases with significant unmet needs. The FDA has also granted TTI-101 Fast Track Designation for HCC only. This will speed up the candidate's review process. Tvardi also expects top-line data from its REVERT Liver Cancer Phase 1b/2 clinical trial for HCC in the first half of 2026. Additionally, Tvardi has TTI‑109, a next-generation STAT3 inhibitor, in the preclinical stage, which means it has not yet entered human trials. This suggests that it could enter clinical development within 12 months. If pursued, it would broaden Tvardi's fibrosis-related disease portfolio and strengthen its long-term clinical pipeline. The company's products are still in the clinical stage and have not yet been approved for the market. As a result, it generates no revenue and requires external financing to run its operations. The merger with Cara was critical not only for securing a path to a Nasdaq listing, but also for strengthening its financing. With approximately $28.3 million in private placement funding and $23.8 million in net cash from Cara, Tvardi has secured a cash runway until late 2026, covering the critical readout periods of its lead candidate's trials. Tvardi Therapeutics stock represents a typical high-risk, high-reward biotech investment. With no revenue, its valuation is entirely dependent on clinical trial results. The company has breakout potential, which is why Wall Street is optimistic. Tvardi's breakthrough IPF results may spark major collaborations. Furthermore, positive HCC outcomes would broaden its oncology portfolio. On the flip side, risks include clinical trial or safety failures, as well as delays in regulatory approvals. This is why the stock is appropriate for investors who are comfortable with the volatility that comes with clinical-stage biotech stocks. What Does Wall Street Say About Tvardi's Stock? Overall, Wall Street rates the stock a 'Strong Buy.' Of the six analysts covering TVRD stock, five of them rate it as a 'Strong Buy,' with one suggesting a 'Moderate Buy.' The average price target is $58.33, which represents 151% upside from current levels. Its high target price of $78 implies the stock can surge 233% over the next 12 months. On the date of publication, Sushree Mohanty did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error 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
Business Wire
14-07-2025
- Health
- Business Wire
New Guideline Improves Patient Access to Advanced Ultrasound Assessment of Liver Diseases and Transplant Options, Experts Say
CHICAGO--(BUSINESS WIRE)--Patients with liver diseases will have expanded access to advanced ultrasound imaging and transplant options, thanks to new policy allowing doctors to use contrast-enhanced ultrasound (CEUS) to help assess certain liver cancers and determine whether a liver is healthy enough for transplantation, according to experts affiliated with the International Contrast Ultrasound Society (ICUS). Patients with liver diseases will have expanded access to advanced ultrasound imaging and transplant options, thanks to new policy. Share 'This eliminates a significant roadblock to the appropriate use of CEUS at a time when patient lives are at stake,' said Dr. Yuko Kono, a transplant hepatologist and CEUS expert at the University of California San Diego and a member of the ICUS Board of Directors. ICUS was an early and strong supporter of the inclusion of CEUS as an approved imaging option for evaluation of a prevalent form of liver cancer known as hepatocellular carcinoma (HCC) under guidelines and policies established by the Organ Procurement and Transplantation Network (OPTN). While OPTN plays a crucial role in the evaluation and allocation of livers for transplantation, its guidelines and policies often have a broader impact on the clinical practice of hepatology and the use of CEUS to evaluate liver disease, according to Dr. Andrej Lyshchik, a professor of radiology at Thomas Jefferson University and CEUS expert. Dr. Lyshchik is also a member of the ICUS Board of Directors. 'We cannot underestimate the clinical importance of having CEUS officially included in our imaging tool boxes,' said Dr. Lyshchik. ICUS called the new OPTN policy 'a critical step toward modernizing the diagnostic framework for HCC.' ICUS also said that the policy change will 'promote consistency, reduce interpretation errors, and enhance communication with referring physicians' by aligning OPTN imaging classification criteria with a standardized reporting and data collection system known as LI-RADS ®. CEUS is a safe, low-cost diagnostic imaging tool that is routinely used worldwide to assess abdominal and pelvic organs and tumors, heart and vascular disease, chronic gastro-intestinal diseases and other serious medical conditions, and to monitor therapy. 'CEUS solves many clinical problems efficiently, without exposure to ionizing radiation, and with sensitivity and specificity comparable to and sometimes better than contrast-enhanced CT and MRI,' said Dr. Stephanie Wilson, a clinical professor of radiology and gastroenterology at the University of Calgary and Co-President of ICUS. Because ultrasound systems are readily available in many medical centers throughout the world and provide reliable diagnostic information in real time, CEUS often streamlines clinical workflows and reduces delays in diagnosis and treatment, she added. Three ultrasound contrast agents are currently approved by the US Food and Drug Administration: Definity (Lantheus); Lumason (Bracco Imaging) and Optison (GE Healthcare). ABOUT ICUS: The International Contrast Ultrasound Society (ICUS) is a nonprofit medical society dedicated to advancing the safe and medically appropriate use of contrast enhanced ultrasound (CEUS) to improve patient care globally. Membership in ICUS is free of charge and there is no fee for ICUS educational programs, CME credits, newsletters or other resources. To join ICUS and learn more about CEUS, visit and download ICUS CONNECT, the free ICUS mobile app.
