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Yahoo
08-08-2025
- Business
- Yahoo
Palleon Pharmaceuticals Announces First Patient Dosed in Phase 2 Clinical Trial of E-602 (HLX79), a Potential First-In-Class Treatment for Active Glomerulonephritis
Clinical trial is evaluating Palleon's E-602 (HLX79) in combination with Henlius' HANLIKANG (biosimilar rituximab) for patients with active glomerulonephritis Phase 2 study is the first clinical trial of Palleon's glyco-immunology platform in autoimmune diseases, and the most advanced trial of E-602 (HLX79) to date WALTHAM, Mass., August 07, 2025--(BUSINESS WIRE)--Palleon Pharmaceuticals, a company pioneering glyco-immunology drug development to treat autoimmune diseases and cancer, today announced the first patient has been dosed in the Phase 2 clinical trial of Palleon's potential first-in-class human sialidase enzyme therapeutic E-602 (HLX79) in combination with Henlius' self-developed HANLIKANG (rituximab biosimilar) in patients with active glomerulonephritis, a form of autoimmune kidney disease that includes membranous nephropathy (MN) and lupus nephritis (LN). The Phase 2 clinical trial is being conducted in mainland China. "E-602's unique dual mechanism enhances depletion of autoreactive memory B cells and reduces pro-fibrotic macrophages that cause organ damage. Preclinical and early clinical experiments of E-602 in combination with rituximab suggest that targeting these two key drivers of autoimmune pathologies can reduce the severity of autoimmune flares and improve treatment response in active glomerulonephritis," said Jim Broderick, M.D., Chief Executive Officer and Founder of Palleon. "We believe glyco-immunology can change the treatment paradigm in autoimmune diseases by enabling the targeting of pathogenic immune cells. We look forward to working with Henlius to advance E-602 in this area of significant unmet need." Active glomerulonephritis comprises multiple forms of autoimmune kidney diseases, including MN and LN, which occur when the body's immune system mistakenly attacks its own healthy tissues. MN is a leading cause of nephrotic syndrome, a collection of symptoms caused by kidney damage that leads to low blood albumin levels, high blood lipids, and significant swelling, and is more common in East Asia and Europe. LN similarly affects the kidney, leading to kidney damage in patients with systemic lupus symptoms. E-602 (HLX79) degrades sialoglycans, enhancing the clearance of two highly pathogenic immune cell populations in autoimmunity: autoreactive memory B cells, which drive inflammation, and M2-like macrophages which promote fibrosis and organ damage. Preclinical and early clinical experiments of E-602 (HLX79), in combination with rituximab, demonstrated enhanced depletion of pathogenic B cells versus rituximab alone, without the risk of cytokine release syndrome (CRS) or immune effector cell associated neurotoxicity syndrome (ICANS). These syndromes have been associated with CAR T and T cell engager therapies for the elimination of B cells. E-602 (HLX79) demonstrated a favorable safety profile with no dose-limiting toxicities in a completed Phase 1 clinical trial, offering an attractive therapeutic profile for patients treated in community settings. The Phase 2 clinical trial is a double-blind, randomized, placebo-controlled, multicenter study to evaluate the efficacy, safety, and tolerability of E-602 (HLX79) in combination with HANLIKANG (rituximab biosimilar) in patients with active glomerulonephritis. The trial follows an agreement announced in December 2024 between Palleon and Henlius to advance glyco-immunology as a treatment for autoimmune diseases, building on the ongoing collaboration between the two companies. For more information on this clinical trial, please visit: About Palleon Pharmaceuticals Palleon Pharmaceuticals is the leading biotechnology company developing drugs that harness glyco-immunology to treat cancer and autoimmune diseases. The company's proprietary platforms enable new target discovery, patient selection, and the development of novel therapeutics for devastating diseases characterized by immune system dysfunction. The groundbreaking discoveries of Palleon Co-Founder and Nobel laureate Carolyn Bertozzi enabled development of the company's glycan degradation therapeutic platform. View source version on Contacts Media Contact Lauren CrociatiTen Bridge Communicationslcrociati@ 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
Yahoo
06-08-2025
- Business
- Yahoo
Revvity Launches Innovative Reagent Technology to Accelerate Development of Next-Generation Targeted Therapeutics
Innovative plate-based internalization reagents designed to deliver accurate, high-throughput, and scalable insights for GPCR and ADC research WALTHAM, Mass., August 06, 2025--(BUSINESS WIRE)--Revvity, Inc. (NYSE: RVTY), today announced the launch of pHSense™ reagents, a powerful technology designed to advance internalization studies in drug discovery. pHSense reagents are designed for high-throughput, plate-based workflows and intended for researchers studying G protein-coupled receptors (GPCRs) or antibody-drug conjugates (ADCs). They offer a scalable, accurate, and easy-to-implement solution for monitoring antibody, ADC, or receptor internalization. Developed for use with standard plate readers, pHSense reagents combine a pH-sensitive dye and a time-resolved fluorescence (TRF) readout to allow for the delivery of robust kinetics of internalization and high signal-to-background—even at low endogenous receptor expression levels. Fully compatible with Revvity's multimode detection platforms, pHSense reagents have the potential to significantly enhance detection capability while simplifying integration into existing drug discovery workflows. By enabling more efficient screening and characterization of promising therapeutic candidates, pHSense reagents can help researchers accelerate preclinical development timelines, potentially reducing overall development costs and contributing to more efficient advancement of candidates toward clinical evaluation. "pHSense reagents fill a critical gap in internalization assay technologies, directed towards enabling researchers to gain faster, more reliable insights using more physiologically relevant conditions," said Craig Monell, senior vice president, reagents at Revvity. "With this launch, Revvity reinforces its commitment to advancing drug discovery through innovative tools that are focused on improving data quality, throughput, and reproducibility." With a growing focus on receptor trafficking in drug development and increasing demand for accurate, high-throughput tools, pHSense reagents offer support for emerging trends in oncology and precision medicine, particularly in ADC development. The innovative design focused on addressing major limitations of current offerings such as low throughput and suboptimal signal-to-noise ratios. For details on Revvity's wide-ranging portfolio of reagents – including immunoassays, gene editing and modulation tools, primary and secondary antibodies, and molecular biology solutions – visit About Revvity At Revvity, "impossible" is inspiration, and "can't be done" is a call to action. Revvity provides health science solutions, technologies, expertise, and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what's possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more. With 2024 revenue of more than $2.7 billion and approximately 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 160 countries. Stay updated by following our Newsroom, LinkedIn, X, YouTube, Facebook and Instagram. View source version on Contacts Investor Relations: Steve Media Relations: Chet Murray(781)
Yahoo
06-08-2025
- Business
- Yahoo
Upstream Bio Reports Second Quarter 2025 Financial Results and Highlights Continued Progress
– On track to report top-line data from Phase 2 trial in chronic rhinosinusitis with nasal polyps (CRSwNP) in the third quarter of 2025 – – Completed enrollment in Phase 2 trial in severe asthma in June 2025; top-line data expected in the first quarter of 2026 – – First patient dosed in Phase 2 trial in chronic obstructive pulmonary disease (COPD) in July 2025 – WALTHAM, Mass., Aug. 06, 2025 (GLOBE NEWSWIRE) -- Upstream Bio, Inc. (Nasdaq: UPB), a clinical-stage company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders, today reported financial results for the second quarter ended June 30, 2025, and provided a summary of recent business highlights. The Company is developing verekitug, the only monoclonal antibody currently in clinical development that targets and inhibits the thymic stromal lymphopoietin (TSLP) receptor, in multiple severe respiratory diseases including CRSwNP, severe asthma, and COPD. Verekitug's unique pharmacology may lead to differentiated efficacy and an extended dosing interval as compared to the current standard of care. 'We continued to build momentum this quarter with strong execution across our clinical development programs for verekitug in severe respiratory diseases,' said Rand Sutherland, MD, Chief Executive Officer of Upstream Bio. 'Notably, in June, we completed enrollment in our Phase 2 trial in severe asthma, with top-line data expected in the first quarter of 2026. We also initiated our Phase 2 trial in COPD in July, marking the start of development in a third major respiratory indication. Additionally, we remain on track to report top-line results from our Phase 2 trial in CRSwNP in the third quarter of this year.' 'Our development efforts are centered on severe forms of common respiratory diseases where we see significant potential for clinical impact and commercial opportunity,' Dr. Sutherland continued. 'We believe verekitug's differentiated mechanism and extended dosing profile may offer meaningful advantages over biologics currently used to treat these diseases. Our upcoming readouts in CRSwNP and severe asthma represent key program milestones and an opportunity to further demonstrate the potentially unique profile of TSLP receptor inhibition across multiple inflammatory airway diseases.' Upcoming Milestones and Recent Business Highlights Two key upcoming top-line readouts: Top-line data from the VIBRANT Phase 2 trial in patients with CRSwNP expected in the third quarter of 2025: VIBRANT is a Phase 2 global, randomized, double-blind, placebo-controlled, parallel group clinical trial designed to assess the efficacy and safety of verekitug in participants with CRSwNP, dosed every 12 weeks. Patient enrollment for VIBRANT was completed in January 2025. The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. Top-line data from the VALIANT Phase 2 trial in patients with severe asthma, expected in the first quarter of 2026: VALIANT is a Phase 2 global, randomized, double-blind, placebo-controlled, parallel group clinical trial designed to assess the efficacy and safety of verekitug in participants with severe asthma in extended dosing interval arms of 12 and 24 weeks. Patient enrollment for VALIANT was completed in June 2025. The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. Program progress: Entered third major respiratory indication with first patient dosed in the VENTURE Phase 2 clinical trial in patients with COPD in July 2025: VENTURE is a Phase 2 global, randomized, double-blind, placebo-controlled, parallel group clinical trial designed to assess the efficacy and safety of verekitug in participants with moderate-to-severe COPD in extended dosing interval arms of 12 and 24 weeks. The Company has designed this trial using endpoints that, pending interactions with regulatory authorities, could produce data to support submissions for product approval. Initiated long term extension study (LTE) in severe asthma in May 2025: VALOUR, a Phase 2 LTE, was initiated in eligible participants with severe asthma who have completed the VALIANT Phase 2 trial. Second Quarter 2025 Financial Results As of June 30, 2025, Upstream Bio had cash, cash equivalents and short-term investments of $393.6 million, which is expected to fund planned operations through 2027. Research and development expenses were $37.9 million for the quarter ended June 30, 2025, compared to $14.1 million for the same period in 2024. The increase of $23.8 million was primarily driven by an increase in clinical and manufacturing expenses related to the Company's verekitug programs. General and administrative expenses were $7.4 million for the quarter ended June 30, 2025, compared to $4.0 million for the same period in 2024. The increase of $3.4 million was primarily driven by an increase in personnel-related expenses, including share-based compensation, and professional service fees. Net loss was $40.0 million for the quarter ended June 30, 2025, compared to a net loss of $14.7 million for the same period in 2024. The increase of $25.3 million was largely due to increased research and development and general and administrative expenses, partially offset by increased interest income. Upcoming Events Upstream Bio expects to participate in the following investor conferences and medical congresses: Stifel Virtual Immunology and Inflammation Forum, September 15–16, 2025 European Respiratory Society, September 27–October 1, 2025, Amsterdam, Netherlands 2025 Truist Securities Biopharma Symposium, November 6, 2025, New York, NY About Upstream BioUpstream Bio is a clinical-stage biotechnology company developing treatments for inflammatory diseases, with an initial focus on severe respiratory disorders. The Company is developing verekitug, the only known antagonist currently in clinical development that targets the receptor for thymic stromal lymphopoietin (TSLP), a cytokine which is a clinically validated driver of inflammatory response positioned upstream of multiple signaling cascades that affect a variety of immune mediated diseases. The Company has advanced this highly potent monoclonal antibody into separate Phase 2 trials for the treatment of chronic rhinosinusitis with nasal polyps (CRSwNP), severe asthma, and chronic obstructive pulmonary disease (COPD). Upstream Bio's team is committed to maximizing verekitug's unique attributes to address the substantial unmet needs for patients underserved by today's standard of care. To learn more, please visit Upstream Bio intends to use the investor relations page on its website as a means of disclosing material nonpublic information and for complying with its disclosure obligations under Regulation FD. Accordingly, investors should monitor its website in addition to following press releases, filings with the Securities and Exchange Commission (SEC), public conference calls, presentations and webcasts. Forward-Looking StatementsThis press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, each as amended. These statements may be identified by words such as 'aims,' 'anticipates,' 'believes,' 'continue,' 'could,' 'estimates,' 'expects,' 'forecasts,' 'goal,' 'intends,' 'may,' 'plans,' 'possible,' 'potential,' 'predict,' 'project,' 'seeks,' 'should,' 'target,' 'will' and variations of these words or similar expressions. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. These forward-looking statements include, without limitation, express or implied statements regarding: the clinical development of verekitug for the treatment of severe asthma, CRSwNP and COPD, including the timing, progress and results of ongoing and planned clinical trials; expectations for future discussions with regulatory authorities and the potential of the endpoints of the Company's clinical trials to produce data that could support submissions for product approval; expectations regarding the differentiation, safety, efficacy, tolerability, or extended dosing interval of verekitug; Upstream Bio's expected operating expenses and capital expenditure requirements, including its cash runway through 2027; and participation at upcoming investor conferences and medical congresses. Any forward-looking statements in this press release are based on the Company's current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Readers are cautioned that actual results, levels of activity, safety, efficacy, performance or events and circumstances could differ materially from those expressed or implied in the Company's forward-looking statements due to a variety of risks and uncertainties, which include, without limitation, risks and uncertainties related to: Upstream Bio's ability to advance verekitug through clinical development, and to obtain regulatory approval of and ultimately commercialize verekitug on the expected timeline, if at all; the initiation, timing, progress and results of clinical trials; Upstream Bio's ability to fund its development activities and achieve development goals; Upstream Bio's dependence on third parties to conduct clinical trials and manufacture verekitug, and commercialize verekitug, if approved; Upstream Bio's ability to attract, hire and retain key personnel, and protect its intellectual property; Upstream Bio's financial condition and need for substantial additional funds in order to complete development activities and commercialize verekitug, if approved; regulatory developments and approval processes of the U.S. Food and Drug Administration and comparable foreign regulatory authorities; Upstream Bio's competitors and industry; and other risks and uncertainties described in greater detail under the caption 'Risk Factors' in Upstream Bio's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q, as well as any subsequent filings with the SEC. Any forward-looking statements represent Upstream Bio's views only as of today and should not be relied upon as representing its views as of any subsequent date. Upstream Bio explicitly disclaims any obligation or undertaking to update any forward-looking statements contained herein to reflect any change in its expectations or any changes in events, conditions or circumstances on which any such statement is based except to the extent required by law, and claims the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of and Media Contact:Meggan BuckwellDirector, Corporate Communications and Investor Relationsir@ BIO, CONSOLIDATED BALANCE SHEET(IN THOUSANDS)(UNAUDITED) June 30, December 31, 2025 2024 Assets Current assets: Cash and cash equivalents $ 45,458 $ 325,892 Short-term investments 348,123 144,559 Accounts receivable 937 613 Prepaid expenses and other current assets 23,754 8,096 Total current assets 418,272 479,160 Property and equipment, net 544 582 Operating lease right-of-use assets 1,511 1,783 Restricted cash 194 194 Total assets $ 420,521 $ 481,719 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,551 $ 4,041 Accrued expenses and other current liabilities 7,666 5,992 Operating lease liabilities, current portion 712 704 Total current liabilities 10,929 10,737 Operating lease liabilities, net of current portion 849 1,130 Total liabilities 11,778 11,867 Stockholders' equity: Common stock 54 53 Additional paid-in capital 666,447 660,604 Accumulated other comprehensive income (loss) 258 (25 ) Accumulated deficit (258,016 ) (190,780 ) Total stockholders' equity 408,743 469,852 Total liabilities and stockholders' equity $ 420,521 $ 481,719 UPSTREAM BIO, CONSOLIDATED STATEMENTS OF OPERATIONS(IN THOUSANDS)(UNAUDITED) Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 Collaboration revenue $ 937 $ 510 $ 1,503 $ 1,150 Operating expenses: Research and development 37,865 14,069 63,662 25,760 General and administrative 7,419 3,981 14,201 7,943 Total operating expenses 45,284 18,050 77,863 33,703 Loss from operations (44,347 ) (17,540 ) (76,360 ) (32,553 ) Other income (expense): Change in fair value of preferred stock tranche right liability — — — 2,859 Interest income 4,431 2,877 9,174 4,143 Other expense, net (50 ) (15 ) (50 ) (21 ) Total other income, net 4,381 2,862 9,124 6,981 Net loss $ (39,966 ) $ (14,678 ) $ (67,236 ) $ (25,572 )Sign in to access your portfolio
Yahoo
05-08-2025
- Health
- Yahoo
Body Vision Medical Receives Pre-Market Approval for LungVision® in Singapore, Advancing AI-Powered Imaging for Early Lung Cancer Diagnosis
WALTHAM, Mass., Aug. 5, 2025 /PRNewswire/ -- Body Vision Medical, a leader in AI-powered intraoperative imaging, is pleased to announce that its LungVision advanced imaging platform has received Pre-Market Approval from Singapore's Health Sciences Authority (HSA). This clearance enables full commercialization of LungVision in Singapore and represents a significant milestone in the company's ongoing mission to improve early and accurate diagnosis of lung cancer worldwide. Lung cancer is a significant health concern in Singapore, ranking as the second most common cancer in men and the third most common in women. Over a five-year period (2018-2022), approximately 9,000 cases were diagnosed. According to the Singapore Cancer Registry, most patients are diagnosed at a late stage, reducing the effectiveness of treatment and survival rates. Improving early diagnosis with advanced imaging technology can have a meaningful impact on patient outcomes. "Receiving HSA's Pre-Market Approval is an important milestone for physicians and patients in Singapore," said Benny Krauz, Vice President of Regulatory and Quality at Body Vision Medical. "Physicians will now be able to improve the success of their diagnostic bronchoscopy procedures with real-time three-dimensional imaging, which can lead to a meaningful stage shift in lung cancer diagnostics." LungVision transforms any standard two-dimensional fluoroscopic imaging system into an AI-powered 3D imaging system, giving physicians real-time navigation and enhanced visualization to perform more precise bronchoscopic biopsies. The technology supports earlier and more accurate diagnoses of pulmonary nodules—helping improve patient outcomes while keeping procedural costs low. "Bringing LungVision to Singapore represents an important step forward in enhancing diagnostic accuracy for pulmonary care," said Daniel Soh, Managing Director for Scanmed Technology. "This platform aligns with our mission to offer high-quality, innovative solutions that improve patient care. LungVision's ability to enhance early detection and biopsy accuracy is an important advancement for pulmonary care in the region." For more information about LungVision and its availability in Singapore, please visit or contact Daniel Soh at dsoh@ About Body Vision Medical Body Vision Medical believes in saving lives through the globalization of innovative medical technology. LungVision provides AI-powered real-time image guidance to address the clinical need for early, definitive lung cancer diagnosis and to enable effective treatment of lung lesions via minimally invasive procedures. Visit to learn more and connect with us on LinkedIn. About Scanmed Technology Scanmed Technology PTE LTD is a leading medical solutions provider in Singapore, focused on bringing innovative healthcare technologies to the Singapore market. With deep industry experience and a commitment to clinical excellence, Scanmed partners with global innovators to deliver impactful solutions to healthcare professionals. Contact: Mike Hostetler +1.651.366.9584 info@ View original content: SOURCE Body Vision Medical
Yahoo
28-07-2025
- Business
- Yahoo
Revvity Announces Financial Results for the Second Quarter of 2025
Revenue of $720 million; 4% reported growth; 3% organic growth GAAP EPS of $0.46; Adjusted EPS from continuing operations of $1.18 Updates full year 2025 guidance WALTHAM, Mass., July 28, 2025--(BUSINESS WIRE)--Revvity, Inc. (NYSE: RVTY), today reported financial results for the second quarter ended June 29, 2025. The Company reported GAAP earnings per share of $0.46, as compared to $0.45 in the same period a year ago. Revenue for the quarter was $720 million, as compared to $692 million in the same period a year ago. GAAP operating income from continuing operations for the quarter was $91 million, as compared to $86 million for the same period a year ago. GAAP operating profit margin from continuing operations was 12.6% as a percentage of revenue, as compared to 12.4% in the same period a year ago. Adjusted earnings per share from continuing operations for the quarter was $1.18, as compared to $1.22 in the same period a year ago. Adjusted operating income was $192 million, as compared to $199 million for the same period a year ago. Adjusted operating profit margin was 26.6% as a percentage of revenue, as compared to 28.8% in the same period a year ago. Adjustments for the Company's non-GAAP financial measures have been noted in the attached reconciliations. "The power of Revvity's transformation and consistent execution were evident in our second-quarter performance, enabling us to exceed expectations despite the evolving market environment," said Prahlad Singh, president and chief executive officer of Revvity. "With a strong pipeline of innovation, high-performing teams and disciplined operational focus, we're well-positioned to deliver long-term value creation for our shareholders." Financial Overview by Reporting Segment Life Sciences Second quarter 2025 revenue was $366 million, as compared to $349 million in the same period a year ago. Revenue increased 5% and organic revenue increased 4% as compared to the same period a year ago. Second quarter 2025 adjusted operating income was $115 million, as compared to $118 million in the same period a year ago. Adjusted operating profit margin was 31.6% as a percentage of revenue, as compared to 33.7% in the same period a year ago. Diagnostics Second quarter 2025 revenue was $354 million, as compared to $343 million in the same period a year ago. Revenue increased 3% and organic revenue increased 2% as compared to the same period a year ago. Second quarter 2025 adjusted operating income was $89 million, as compared to $93 million in the same period a year ago. Adjusted operating profit margin was 25.2% as a percentage of revenue, as compared to 27.0% in the same period a year ago. Full Year 2025 Guidance For the full year 2025, the Company is raising its full year revenue guidance to $2.84-$2.88 billion to reflect recent changes in foreign currency exchange rates and assumes 2% to 4% organic growth. The Company is also updating its adjusted EPS guidance to a range of $4.85 to $4.95. Guidance for the full year 2025 for adjusted EPS and organic growth is provided on a non-GAAP basis and cannot be reconciled to the closest GAAP measures without unreasonable effort due to the unpredictability of the amounts and timing of events affecting the items the Company excludes from these non-GAAP measures. The timing and amounts of such events and items could be material to the Company's results prepared in accordance with GAAP. Webcast Information The Company will discuss its second quarter 2025 results and its outlook for business trends during a webcast on July 28, 2025, at 8:00 a.m. Eastern Time. A live audio webcast and presentation will be available on the Investors section of the Company's website, Use of Non-GAAP Financial Measures In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings announcement also contains non-GAAP financial measures. The reasons that we use these measures, a reconciliation of these measures to the most directly comparable GAAP measures, and other information relating to these measures are included below following our GAAP financial statements. Factors Affecting Future Performance This press release contains "forward-looking" statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements relating to estimates and projections of future earnings per share, cash flow and revenue growth and other financial results, developments relating to our customers and end-markets, and plans concerning business development opportunities, acquisitions and divestitures. Words such as "believes", "intends", "anticipates", "plans", "expects", "estimates", "projects", "forecasts", "will" and similar expressions, and references to guidance, are intended to identify forward-looking statements. Such statements are based on management's current assumptions and expectations and no assurances can be given that our assumptions or expectations will prove to be correct. A number of important risk factors could cause actual results to differ materially from the results described, implied or projected in any forward-looking statements. These factors include, without limitation: (1) markets into which we sell our products declining or not growing as anticipated; (2) fluctuations in the global economic and political environments, including as the result of recently implemented and recently threatened tariff increases; (3) our failure to introduce new products in a timely manner; (4) our ability to execute acquisitions and divestitures, license technologies, or to successfully integrate acquired businesses or licensed technologies into our existing businesses or to make them profitable; (5) our ability to compete effectively; (6) fluctuation in our quarterly operating results and our ability to adjust our operations to address unexpected changes; (7) significant disruption in third-party package delivery and import/export services or significant increases in prices for those services; (8) disruptions in the supply of raw materials and supplies; (9) our ability to retain key personnel; (10) significant disruption in our information technology systems, or cybercrime; (11) our ability to realize the full value of our intangible assets; (12) our failure to adequately protect our intellectual property; (13) the loss of any of our licenses or licensed rights; (14) the manufacture and sale of products exposing us to product liability claims; (15) our failure to maintain compliance with applicable government regulations; (16) our failure to comply with data privacy and information security laws and regulations; (17) regulatory changes; (18) our failure to comply with healthcare industry regulations; (19) economic, political and other risks associated with foreign operations; (20) our ability to obtain future financing; (21) restrictions in our credit agreements; (22) significant fluctuations in our stock price; (23) reduction or elimination of dividends on our common stock; and (24) other factors which we describe under the caption "Risk Factors" in our most recent quarterly report on Form 10-Q and in our other filings with the Securities and Exchange Commission. We disclaim any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this press release. About Revvity At Revvity, "impossible" is inspiration, and "can't be done" is a call to action. Revvity provides health science solutions, technologies, expertise and services that deliver complete workflows from discovery to development, and diagnosis to cure. Revvity is revolutionizing what's possible in healthcare, with specialized focus areas in translational multi-omics technologies, biomarker identification, imaging, prediction, screening, detection and diagnosis, informatics and more. With 2024 revenue of more than $2.7 billion and approximately 11,000 employees, Revvity serves customers across pharmaceutical and biotech, diagnostic labs, academia and governments. It is part of the S&P 500 index and has customers in more than 160 countries. Stay updated by following our Newsroom, LinkedIn, X, YouTube, Facebook and Instagram. Revvity, Inc. and Subsidiaries CONDENSED CONSOLIDATED INCOME STATEMENTS Three Months Ended Six Months Ended (In thousands, except per share data) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Revenue $ 720,284 $ 691,685 $ 1,385,046 $ 1,341,605 Cost of revenue 327,728 306,179 616,944 601,052 Selling, general and administrative expenses 248,526 251,650 498,245 512,221 Research and development expenses 53,270 48,132 106,867 98,492 Operating income from continuing operations 90,760 85,724 162,990 129,840 Interest income (8,345 ) (20,512 ) (18,426 ) (40,598 ) Interest expense 22,937 24,717 45,901 49,114 Change in fair value of investments 1,955 (7,777 ) (1,118 ) (6,971 ) Other expense, net 5,563 2,634 15,601 7,084 Income from continuing operations, before income taxes 68,650 86,662 121,032 121,211 Provision for income taxes 13,428 14,056 24,141 19,909 Income from continuing operations 55,222 72,606 96,891 101,302 Loss from discontinued operations (1,274 ) (17,246 ) (706 ) (19,929 ) Net income $ 53,948 $ 55,360 $ 96,185 $ 81,373 Diluted earnings per share: Income from continuing operations $ 0.47 $ 0.59 $ 0.82 $ 0.82 Loss from discontinued operations (0.01 ) (0.14 ) (0.01 ) (0.16 ) Net income $ 0.46 $ 0.45 $ 0.81 $ 0.66 Weighted average diluted shares of common stock outstanding 117,538 123,477 118,882 123,494 ABOVE PREPARED IN ACCORDANCE WITH GAAP Additional supplemental information(1): (per share, continuing operations) GAAP EPS from continuing operations $ 0.47 $ 0.59 $ 0.82 $ 0.82 Amortization of intangible assets 0.73 0.73 1.41 1.47 Purchase accounting adjustments 0.02 0.01 0.02 0.06 Acquisition and divestiture-related costs 0.01 0.04 0.03 0.11 Change in fair value of investments 0.02 (0.06 ) (0.01 ) (0.06 ) Significant litigation matters and settlements 0.01 0.05 0.10 0.05 Significant environmental matters — — (0.01 ) — Mark to market on postretirement benefits — — 0.04 — Restructuring and other, net 0.10 0.08 0.12 0.18 Tax on above items (0.16 ) (0.21 ) (0.32 ) (0.44 ) Adjusted EPS from continuing operations $ 1.18 $ 1.22 $ 2.19 $ 2.19 (1) amounts may not sum due to rounding Revvity, Inc. and Subsidiaries REVENUE AND OPERATING INCOME (LOSS) Three Months Ended Six Months Ended (In thousands, except percentages) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Revenue and adjusted operating income Revenue $ 720,284 $ 691,685 $ 1,385,046 $ 1,341,605 Reported operating income from continuing operations $ 90,760 $ 85,724 $ 162,990 $ 129,840 OP% 12.6 % 12.4 % 11.8 % 9.7 % Amortization of intangible assets 85,289 90,620 167,989 181,858 Purchase accounting adjustments 2,178 623 2,001 7,245 Acquisition and divestiture-related costs 1,248 5,779 3,789 17,241 Significant litigation matters and settlements 1,124 6,276 11,710 6,276 Significant environmental matters — — (1,208 ) — Restructuring and other, net 11,203 9,845 14,442 22,201 Adjusted operating income $ 191,802 $ 198,867 $ 361,713 $ 364,661 OP% 26.6 % 28.8 % 26.1 % 27.2 % Segment revenue and segment operating income Life Sciences $ 365,898 $ 348,525 $ 706,293 $ 685,039 Diagnostics 354,386 343,160 678,753 656,566 Segment revenue 720,284 691,685 1,385,046 1,341,605 Life Sciences $ 115,469 $ 117,567 $ 221,180 $ 218,518 31.6 % 33.7 % 31.3 % 31.9 % Diagnostics 89,422 92,749 163,437 168,953 25.2 % 27.0 % 24.1 % 25.7 % Segment operating income 204,891 210,316 384,617 387,471 Corporate (13,089 ) (11,449 ) (22,904 ) (22,810 ) Adjusted operating income 191,802 198,867 361,713 364,661 Amortization of intangible assets (85,289 ) (90,620 ) (167,989 ) (181,858 ) Purchase accounting adjustments (2,178 ) (623 ) (2,001 ) (7,245 ) Acquisition and divestiture-related costs (1,248 ) (5,779 ) (3,789 ) (17,241 ) Significant litigation matters and settlements (1,124 ) (6,276 ) (11,710 ) (6,276 ) Significant environmental matters — — 1,208 — Restructuring and other, net (11,203 ) (9,845 ) (14,442 ) (22,201 ) Reported operating income from continuing operations $ 90,760 ... $ 85,724 $ 162,990 $ 129,840 REVENUE AND REPORTED OPERATING INCOME (LOSS) PREPARED IN ACCORDANCE WITH GAAP Revvity, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (In thousands) June 29, 2025 December 29, 2024 Current assets: Cash and cash equivalents $ 991,849 $ 1,163,396 Accounts receivable, net 661,138 632,400 Inventories, net 388,467 367,587 Other current assets 194,729 186,225 Total current assets 2,236,183 2,349,608 Property, plant and equipment, net 499,026 482,217 Operating lease right-of-use assets, net 177,168 167,716 Intangible assets, net 2,514,368 2,640,921 Goodwill 6,614,989 6,463,619 Other assets, net 321,055 288,397 Total assets $ 12,362,789 $ 12,392,478 Current liabilities: Current portion of long-term debt $ 230 $ 242 Accounts payable 178,151 167,463 Accrued expenses and other current liabilities 493,433 485,395 Total current liabilities 671,814 653,100 Long-term debt 3,214,324 3,150,476 Long-term liabilities 760,178 770,523 Operating lease liabilities 160,305 151,505 Total liabilities 4,806,621 4,725,604 Total stockholders' equity 7,556,168 7,666,874 Total liabilities and stockholders' equity $ 12,362,789 $ 12,392,478 PREPARED IN ACCORDANCE WITH GAAP Revvity, Inc. and Subsidiaries CONSOLIDATED STATEMENTS OF CASH FLOWS Three Months Ended Six Months Ended (In thousands) June 29, 2025 June 30, 2024 June 29, 2025 June 30, 2024 Operating activities: Net income $ 53,948 $ 55,360 $ 96,185 $ 81,373 Loss from discontinued operations, net of income taxes 1,274 17,246 706 19,929 Income from continuing operations 55,222 72,606 96,891 101,302 Adjustments to reconcile income from continuing operations to net cash provided by continuing operations: Stock-based compensation 10,133 10,526 17,864 22,218 Restructuring and other, net 11,203 9,845 14,442 22,201 Depreciation and amortization 102,778 107,344 200,200 215,146 Change in fair value of contingent consideration 459 176 (166 ) 6,349 Amortization of deferred debt financing costs and accretion of discounts 1,218 1,773 2,320 3,509 Change in fair value of investments 1,955 (7,777 ) (1,118 ) (6,971 ) Unrealized foreign exchange loss (gain) 206 (480 ) 140 (857 ) Changes in assets and liabilities which provided (used) cash: Accounts receivable, net (40,041 ) (8,995 ) (21,901 ) 28,194 Inventories, net 11,128 10,042 5,642 17,251 Accounts payable (5,576 ) (4,747 ) 3,278 (22,974 ) Accrued expenses and other (14,367 ) (7,985 ) (49,177 ) (52,894 ) Net cash provided by operating activities of continuing operations 134,318 182,328 268,415 332,474 Net cash used in operating activities of discontinued operations — (23,707 ) (5,942 ) (26,290 ) Net cash provided by operating activities 134,318 158,621 262,473 306,184 Investing activities: Capital expenditures (18,868 ) (22,031 ) (34,850 ) (39,875 ) Purchases of investments and notes receivables — (4,000 ) — (4,337 ) Proceeds from disposition of businesses and assets — — 229 — Net cash used in investing activities of continuing operations (18,868 ) (26,031 ) (34,621 ) (44,212 ) Net cash provided by investing activities of discontinued operations 9,375 147,522 18,750 147,522 Net cash (used in) provided by investing activities (9,493 ) 121,491 (15,871 ) 103,310 Financing Activities: Payments of debt financing costs (72 ) — (2,474 ) — Payments on other credit facilities (53 ) (389 ) (103 ) (11,200 ) Payments for acquisition-related contingent consideration (161 ) — (1,978 ) (8,749 ) Proceeds from issuance of common stock under stock plans — 2,089 2,632 6,032 Purchases of common stock (293,907 ) (19,553 ) (447,501 ) (30,309 ) Dividends paid (8,282 ) (8,642 ) (16,715 ) (17,282 ) Net cash used in financing activities of continuing operations (302,475 ) (26,495 ) (466,139 ) (61,508 ) Effect of exchange rate changes on cash, cash equivalents, and restricted cash 31,953 (3,654 ) 48,075 (12,931 ) Net (decrease) increase in cash, cash equivalents, and restricted cash (145,697 ) 249,963 (171,462 ) 335,055 Cash, cash equivalents, and restricted cash at beginning of period 1,138,687 999,465 1,164,452 914,373 Cash, cash equivalents, and restricted cash at end of period $ 992,990 $ 1,249,428 $ 992,990 $ 1,249,428 Supplemental disclosure of cash flow information: Reconciliation of cash, cash equivalents and restricted cash reported within the condensed balance sheets that sum to the total shown in the consolidated statements of cash flows: Cash and cash equivalents $ 991,849 $ 1,248,120 $ 991,849 $ 1,248,120 Restricted cash included in other current assets 1,141 1,308 1,141 1,308 Total cash, cash equivalents and restricted cash $ 992,990 $ 1,249,428 $ 992,990 $ 1,249,428 PREPARED IN ACCORDANCE WITH GAAP Revvity, Inc. and Subsidiaries RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1) Continuing Operations Three Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 4% Less: effect of foreign exchange rates 1% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 3% Life Sciences Three Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 5% Less: effect of foreign exchange rates 1% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 4% Diagnostics Three Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 3% Less: effect of foreign exchange rates 1% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 2% (1) amounts may not sum due to rounding Revvity, Inc. and Subsidiaries RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES (1) Continuing Operations Six Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 3% Less: effect of foreign exchange rates 0% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 3% Life Sciences Six Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 3% Less: effect of foreign exchange rates 0% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 3% Diagnostics Six Months Ended June 29, 2025 Organic revenue growth: Revenue growth from continuing operations 3% Less: effect of foreign exchange rates 0% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 4% (1) amounts may not sum due to rounding Revvity, Inc. and Subsidiaries FY 2025 ORGANIC REVENUE GROWTH FORECAST (1) Continuing Operations Twelve Months Ended December 28, 2025 Organic revenue growth: Projected Revenue growth from continuing operations 3% - 5% Less: effect of foreign exchange rates 1% Less: effect of acquisitions including purchase accounting adjustments and impact of divested businesses 0% Organic revenue growth from continuing operations 2% - 4% (1) amounts may not sum due to rounding Explanation of Non-GAAP Financial Measures We report our financial results in accordance with GAAP. However, management believes that, in order to more fully understand our short-term and long-term financial and operational trends, investors may wish to consider the impact of certain non-cash, non-recurring or other items, which result from facts and circumstances that vary in frequency and impact on continuing operations. Accordingly, we present non-GAAP financial measures as a supplement to the financial measures we present in accordance with GAAP. These non-GAAP financial measures provide management with additional means to understand and evaluate the operating results and trends in our ongoing business by adjusting for certain non-cash expenses and other items that management believes might otherwise make comparisons of our ongoing business with prior periods more difficult, obscure trends in ongoing operations, or reduce management's ability to make useful forecasts. Management believes these non-GAAP financial measures provide additional means of evaluating period-over-period operating performance. In addition, management understands that some investors and financial analysts find this information helpful in analyzing our financial and operational performance and comparing this performance to our peers and competitors. We use the term "organic revenue" to refer to GAAP revenue, excluding the effect of foreign currency changes and revenue from recent acquisitions and divestitures and including purchase accounting adjustments for revenue from contracts acquired in acquisitions that will not be fully recognized due to accounting rules. We use the related term "organic revenue growth" or "organic growth" to refer to the measure of comparing current period organic revenue with the corresponding period of the prior year. We use the term "adjusted gross margin" to refer to GAAP gross margin, excluding amortization of intangible assets and inventory fair value adjustments related to business acquisitions and asset impairments. We use the related term "adjusted gross margin percentage" to refer to adjusted gross margin as a percentage of revenue. We use the term "adjusted SG&A expense" to refer to GAAP SG&A expense, excluding amortization of intangible assets, purchase accounting adjustments, acquisition and divestiture-related expenses, significant litigation matters and settlements, asset impairments, significant environmental charges, and restructuring and other charges. We use the related term "adjusted SG&A percentage" to refer to adjusted SG&A expense as a percentage of revenue. We use the term "adjusted R&D expense" to refer to GAAP R&D expense, excluding amortization of intangible assets and purchase accounting adjustments. We use the related term "adjusted R&D percentage" to refer to adjusted R&D expense as a percentage of revenue. We use the term "adjusted net interest and other expense" to refer to GAAP net interest and other expense, excluding adjustments for mark-to-market accounting on post-retirement benefits, changes in foreign exchange and interest associated with acquisitions and divestitures, changes in the value of investments and debt extinguishment costs. We use the term "adjusted operating income" to refer to GAAP operating income, excluding amortization of intangible assets, other purchase accounting adjustments, acquisition and divestiture-related expenses, significant litigation matters and settlements, significant environmental charges, asset impairments, and restructuring and other charges. We use the related terms "adjusted operating profit percentage," "adjusted operating profit margin," and "adjusted operating margin" to refer to adjusted operating income as a percentage of revenue. We use the term "free cash flow" to refer to net cash provided by (used in) operating activities of continuing operations, less payments for additions to property, plant and equipment from continuing operations ("capital expenditures") plus the proceeds from sales of plant, property and equipment from continuing operations ("capital disposals"). We use the term "adjusted net income" to refer to GAAP income from continuing operations, excluding amortization of intangible assets, debt extinguishment costs, other purchase accounting adjustments, acquisition and divestiture-related expenses, significant litigation matters and settlements, significant environmental charges, changes in the value of investments, disposition of businesses and assets, net, changes in foreign exchange and interest associated with acquisitions and divestitures, asset impairments and restructuring and other charges. We also exclude adjustments for mark-to-market accounting on post-retirement benefits, therefore only our projected costs have been used to calculate this non-GAAP measure. We also adjust for any tax impact related to the above items and exclude the impact of significant tax events. We use the term "adjusted earnings per share from continuing operations," "adjusted earnings per share," "adjusted EPS," or "adjusted EPS from continuing operations" to refer to GAAP earnings per share from continuing operations, excluding amortization of intangible assets, debt extinguishment costs, other purchase accounting adjustments, acquisition and divestiture-related expenses, significant litigation matters and settlements, significant environmental charges, changes in the value of investments, disposition of businesses and assets, net, changes in foreign exchange and interest associated with acquisitions and divestitures, asset impairments and restructuring and other charges. We also exclude adjustments for mark-to-market accounting on post-retirement benefits, therefore only our projected costs have been used to calculate this non-GAAP measure. We also adjust for any tax impact related to the above items and exclude the impact of significant tax events. Management includes or excludes the effect of each of the items identified below in the applicable non-GAAP financial measure referenced above for the reasons set forth below with respect to that item: Amortization of intangible assets—purchased intangible assets are amortized over their estimated useful lives and generally cannot be changed or influenced by management after the acquisition. Accordingly, this item is not considered by management in making operating decisions. Management does not believe such charges accurately reflect the performance of our ongoing operations for the period in which such charges are incurred. Debt extinguishment costs—we incur costs and income related to the extinguishment of debt; including make-whole payments to debt holders, accelerated amortization of debt fees and discounts, and expense or income from hedges to lock in make-whole payments. We exclude the impact of these items from our non-GAAP measures because we believe they do not reflect the performance of our ongoing operations. Other purchase accounting adjustments—accounting rules require us to adjust various balance sheet accounts, including inventory, fixed assets, deferred revenue and deferred rent balances to fair value at the time of the acquisition. As a result, the expenses for these items in our GAAP results are not the same as what would have been recorded by the acquired entity. Accounting rules also require us to estimate the fair value of contingent consideration at the time of the acquisition, and any subsequent changes to the estimate or payment of the contingent consideration and purchase accounting adjustments are charged to expense or income. We exclude the impact of any changes to contingent consideration from our non-GAAP measures because we believe these expenses or benefits do not accurately reflect the performance of our ongoing operations for the period in which such expenses or benefits are recorded. Acquisition and divestiture-related expenses—we incur legal, due diligence, stay bonuses, incentive awards, stock-based compensation, interest, foreign exchange gains and losses, integration expenses, rebranding expenses, transformation expenses, and other costs related to acquisitions and divestitures. We exclude these expenses from our non-GAAP measures because we believe they do not reflect the performance of our ongoing operations. Asset impairments—we incur expenses related to asset impairments. Management does not believe such charges accurately reflect the performance of our ongoing operations for the periods in which such charges were incurred. Restructuring and other charges—restructuring and other charges consist of employee severance, other exit costs, abandonments or associated asset write-downs, cost of terminating certain lease agreements or contracts as well as costs associated with relocating facilities. Management does not believe such costs accurately reflect the performance of our ongoing operations for the period in which such costs are reported. Adjustments for mark-to-market accounting on post-retirement benefits—we exclude adjustments for mark-to-market accounting on post-retirement benefits, and therefore only our projected costs are used to calculate our non-GAAP measures. We exclude these adjustments because they do not represent what we believe our investors consider to be costs of producing our products, investments in technology and production, and costs to support our internal operating structure. Significant litigation matters and settlements—we incur expenses related to significant litigation matters, including the costs to settle or resolve various claims and legal proceedings. Management does not believe such charges accurately reflect the performance of our ongoing operations for the periods in which such charges were incurred. Significant environmental charges—we incur expenses related to significant environmental charges. Management does not believe such charges accurately reflect the performance of our ongoing operations for the periods in which such charges were incurred. Disposition of businesses and assets, net—we exclude the impact of gains or losses from the disposition of businesses and assets from our adjusted earnings per share. Management does not believe such gains or losses accurately reflect the performance of our ongoing operations for the period in which such gains or losses are reported. Impact of foreign currency changes on the current period—we exclude the impact of foreign currency associated with acquisitions and divestitures from these measures by using the prior period's foreign currency exchange rates for the current period because foreign currency exchange rates are subject to volatility and can obscure underlying trends. Impact of significant tax events—we exclude the impact of significant tax events. Management does not believe the impact of significant tax events accurately reflects the performance of our ongoing operations for the periods in which the impact of such events was recorded. Changes in value of investments—we exclude the impact of changes in the value of investments. Management does not believe such gains or losses accurately reflect the performance of our ongoing operations for the period in which such gains or losses are reported. The tax effect for discontinued operations is calculated based on the authoritative guidance in the Financial Accounting Standards Board's Accounting Standards Codification 740, Income Taxes. The tax effect for amortization of intangible assets, inventory fair value adjustments related to business acquisitions, changes to the fair values assigned to contingent consideration, debt extinguishment costs, other costs related to business acquisitions and divestitures, significant litigation matters and settlements, significant environmental charges, changes in the fair value of investments, adjustments for mark-to-market accounting on post-retirement benefits, disposition of businesses and assets, net, and restructuring and other charges is calculated based on operational results and a blended jurisdictional tax rate, which contemplates tax rates currently in effect to determine our tax provision. The tax effect for the impact from foreign currency exchange rates on the current period is calculated based on a blended jurisdictional tax rate currently in effect to determine our tax provision. The non-GAAP financial measures described above are not meant to be considered superior to, or a substitute for, our financial statements prepared in accordance with GAAP. There are material limitations associated with non-GAAP financial measures because they exclude charges that have an effect on our reported results and, therefore, should not be relied upon as the sole financial measures by which to evaluate our financial results. Management compensates and believes that investors should compensate for these limitations by viewing the non-GAAP financial measures in conjunction with the GAAP financial measures. In addition, the non-GAAP financial measures included in this earnings announcement may be different from, and therefore may not be comparable to, similar measures used by other companies. Each of the non-GAAP financial measures listed above is also used by our management to evaluate our operating performance, communicate our financial results to our Board of Directors, benchmark our results against our historical performance and the performance of our peers, evaluate investment opportunities including acquisitions and discontinued operations, and determine the bonus payments for senior management and employees. View source version on Contacts Investor Relations: Steve Media Relations: Chet Murray(781) Sign in to access your portfolio
