Market Signal Briefing

Vertex Pharmaceuticals Incorporated (VRTX) Q3 2025 Earnings Call November 3, 2025 4:30 PM EST

Company Participants

Susie Lisa - Senior Vice President of Investor Relations
Reshma Kewalramani - CEO, President & Director
Stuart Arbuckle
Charles Wagner - Executive VP, COO & CFO
Duncan J. McKechnie - Chief Commercial Officer, Head of North America Commercial & Executive VP

Conference Call Participants

Geoffrey Meacham - Citigroup Inc., Research Division
Salveen Richter - Goldman Sachs Group, Inc., Research Division
Jessica Fye - JPMorgan Chase & Co, Research Division
Evan Seigerman - BMO Capital Markets Equity Research
Tazeen Ahmad - BofA Securities, Research Division
Brian Abrahams - RBC Capital Markets, Research Division
Terence Flynn
Philip Nadeau - TD Cowen, Research Division
Huidong Wang - Barclays Bank PLC, Research Division
Mohit Bansal - Wells Fargo Securities, LLC, Research Division
William Pickering - Sanford C. Bernstein & Co., LLC., Research Division

Presentation

Operator

Good day, and welcome to the Vertex Pharmaceuticals Third Quarter 2025 Earnings Call. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Ms. Susie Lisa. Please go ahead, ma'am.

Susie Lisa
Senior Vice President of Investor Relations

Good evening, all. My name is Susie Lisa, and as the Senior Vice President of Investor Relations, it is my pleasure to welcome you to our third quarter 2025 financial results conference call. On tonight's call, making prepared remarks, we have Dr. Reshma Kewalramani, Vertex's CEO and President; Duncan McKechnie, Chief Commercial Officer; and Charlie Wagner, Chief Operating and Financial Officer. We recommend that you access the webcast slides as you listen to this call. The call is being recorded, and a replay will be available on our website.

We will make forward-looking statements on this call that are subject to the risks and uncertainties discussed in detail in today's press release and in our filings with the

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Private equity firm Boyu Capital is in talks with banks for a loan of around $1.4 billion-equivalent to support its acquisition of a majority stake in Starbucks' China business, according to people familiar with the matter. Bloomberg's Rachel Chang reports.

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of American Depositary Shares ("ADS" or "ADSs") of WPP plc (NYSE: WPP) between February 27, 2025 and July 8, 2025, both dates inclusive (the "Class Period"), of the important December 8, 2025 lead plaintiff deadline.

So what: If you purchased WPP plc ADSs during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the WPP plc class action, go to https://rosenlegal.com/submit-form/?case_id=46121mailto:or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than December 8, 2025. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the complaint, defendants provided overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of WPP's media arm; notably, that it was not truly equipped to handle the ongoing macroeconomic challenges while competing effectively and had instead begun to lose significant market share to its competitors. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the WPP plc class action, go to https://rosenlegal.com/submit-form/?case_id=46121mailto:call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

November 03, 2025 20:27 ET

 | Source:

Integral Metals Corp.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

CALGARY, Alberta, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Integral Metals Corp. (CSE: INTG | FSE: ZK9) (the “Company” or “Integral”) is pleased to announce that it has upsized its previously announced (please see news release dated October 17, 2025) non-brokered flow-through private placement of units (“FT Units”), from gross proceeds of up to C$1,000,000 to gross proceeds of up to C$1,500,000 (the “Offering”). Each FT Unit is priced at $0.95 per FT Unit and will be comprised of one flow-through common share of the Company (each, a “FT Share”) and one (non-flow-through) common share purchase warrant of the Company (each whole warrant, a “Warrant”), with each Warrant entitling the holder to acquire one common share (each, a “Warrant Share”) at a price of C$1.00 for a period of 24 months from issuance.

The gross proceeds from the sale of the FT Shares are intended to be used to incur “Canadian exploration expenses” as defined in the Income Tax Act (Canada), which the Company intends to renounce to the initial purchasers of the FT Shares.

All securities issued in the Offering will be subject to a statutory four month and one day hold period. Closing of the Offering is subject to the Company’s receipt of all necessary regulatory approvals, including approval of the Canadian Securities Exchange (the “CSE”). The Offering is expected to close on or about November 15, 2025.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

On Behalf of the Board Directors

Paul Sparkes
Chief Executive Officer
825-414-3163
[email protected]

ABOUT INTEGRAL METALS CORP.

Integral is an exploration stage company, engaged in the business of mineral exploration for critical minerals, including gallium, germanium, and rare earth elements, with the goal of contributing to the development of a domestic supply chain for these minerals. Integral holds properties in mining-friendly jurisdictions in Canada and the United States of America, including the Northwest Territories, Manitoba and Montana, where it has received regulatory support for its exploration efforts.

Forward-Looking Information

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. The use of any of the words “could”, “intend”, “expect”, “believe”, “will”, “projected”, “estimated” and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company’s current beliefs or assumptions as to the outcome and timing of such future events. In particular, this press release contains forward-looking information relating to, among other things, the anticipated completion date of the Offering, the anticipated amount of proceeds therefrom, the proposed use of proceeds therefrom, as well as the Company’s receipt of all necessary regulatory approvals.

Various assumptions or factors are typically applied in drawing conclusions or making the forecasts or projections set out in forward-looking information, including, in respect of the forward- looking information included in this press release, assumptions regarding the Company’s ability to complete the Offering and the amount of proceeds to be raised therefrom, the Company’s receipt of all necessary regulatory approvals, and the future plans and strategies of the Company. Although forward-looking information is based on the reasonable assumptions of the Company’s management, there can be no assurance that any forward-looking information will prove to be accurate. Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among other things, the risk that the Company may not be able to complete the Offering as contemplated, or at all, and that the Company’s plans with respect to the use of any proceeds received from the Offering may change; that the Company may not receive the necessary regulatory approvals, and the risk that the Company’s business prospects and priorities may change, whether as a result of unexpected events, general market and economic conditions or as a result of the Company’s future exploration efforts, and that any such change may result in a re-deployment of the Company’s resources and efforts in a manner divergent from the Company’s current business plan or strategy. The forward-looking information contained in this release is made as of the date hereof, and the Company is not obligated to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws. Because of the risks, uncertainties and assumptions contained herein, investors should not place undue reliance on forward-looking information. The foregoing statements expressly qualify any forward-looking information contained herein.

The Canadian Securities Exchange (CSE) has not reviewed, approved, or disapproved the contents of this press release.

Paymentus Holdings, Inc. (PAY) Q3 2025 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

David Hanover - Investor Relations Officer
Dushyant Sharma - Chairman, President & CEO
Sanjay Kalra - Senior VP, CFO & Principal Accounting Officer

Conference Call Participants

John Davis - Raymond James & Associates, Inc., Research Division
Tien-Tsin Huang - JPMorgan Chase & Co, Research Division
Craig Maurer - Financial Technology Partners LP
William Nance - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Good day, and welcome to the Third Quarter 2025 Paymentus Earnings Conference Call. This call is being recorded. [Operator Instructions] At this time, I will now turn the call over to David Hanover, Investor Relations. Please go ahead.

David Hanover
Investor Relations Officer

Thank you, operator. Good afternoon. Welcome, and thank you for joining the webcast to review our third quarter 2025 results. Our earnings release documents are available on the Investor Relations section of the paymentus.com website. They include the earnings presentation that we'll make reference to during this webcast. This webcast is being recorded. I hope everyone's had a chance to review those documents. Our Founder and CEO, Dushyant Sharma, will make some opening comments before Sanjay Kalra, our CFO, discusses the details of the third quarter and our guidance. Following our prepared remarks, we'll take questions.

Let me remind you that we may make forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, and we refer to non-GAAP financial measures during the webcast. Forward-looking statements are based on management's current expectations and assumptions that are subject to risks and uncertainties. Factors that may cause our actual results to differ materially from expectations are detailed in our earnings materials and our SEC filings that are available both on the SEC and our website. Information about non-GAAP financial measures, including reconciliations to U.S. GAAP, can

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Q3: 2025-11-03 Earnings SummaryEPS of $0.28 misses by $0.06

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Revenue of

$87.34M

(1.44% Y/Y)

misses by $11.90M

Adeia Inc. (ADEA) Q3 2025 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

Chris Chaney - Vice President of Investor Relations
Paul Davis - CEO & Director
Keith Jones - Chief Financial Officer

Conference Call Participants

Scott Searle - ROTH Capital Partners, LLC, Research Division
Hamed Khorsand - BWS Financial Inc.
Matthew Galinko - Maxim Group LLC, Research Division
Madison de Paola - Rosenblatt Securities Inc., Research Division

Presentation

Operator

Good day, everyone. Thank you for standing by. Welcome to Adeia's Third Quarter 2025 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Chris Chaney, Vice President of Investor Relations for Adeia. Chris, please go ahead.

Chris Chaney
Vice President of Investor Relations

Good afternoon, everyone. Thank you for joining us as we share with you details of our quarterly financial results. With me on the call today are Paul Davis, our President and CEO; and Keith Jones, our CFO. Paul will share with you some general observations regarding the quarter, and then Keith will give further details on our financial results and guidance. We will then conclude with a question-and-answer period. In addition to today's earnings release, there is an earnings presentation, which you can access along with the webcast in the IR portion of our website.

Before turning the call over to Paul, I would like to provide a few reminders. First, today's discussion contains forward-looking statements that are predictions, projections, or other statements about future events, which are based on management's current expectations and beliefs, and therefore, subject to risks, uncertainties, and changes in circumstances. For more information on the risks and uncertainties that could cause our actual results to differ materially from what we discuss today, please refer to the Risk Factors section in our SEC filings, including our annual report on Form 10-K and our quarterly report on Form 10-Q. Please note that the

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Tactile Systems Technology, Inc. (TCMD) Q3 2025 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

Sheri Dodd - CEO, President & Director
Elaine Birkemeyer - Chief Financial Officer

Conference Call Participants

Sam Bentzinger
Kyle Edward Winborne - Piper Sandler & Co., Research Division
Ryan Zimmerman - BTIG, LLC, Research Division
Brandon Vazquez - William Blair & Company L.L.C., Research Division
Anderson Schock - B. Riley Securities, Inc., Research Division
Benjamin Haynor - Lake Street Capital Markets, LLC, Research Division

Presentation

Operator

Welcome, ladies and gentlemen, to the Third Quarter 2025 Earnings Conference Call for Tactile Medical. [Operator Instructions] Please note that this conference call is being recorded and will be available on the company's website for replay shortly.

I would now like to turn the call over to Sam Bentzinger, Investor Relations at Gilmartin Group, for a few introductory comments. Please go ahead.

Sam Bentzinger

Good afternoon, and thank you for joining the call today. With me from Tactile's management team are: Sheri Dodd, Chief Executive Officer; and Elaine Birkemeyer, Chief Financial Officer.

Before we begin, I'd like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management and involve inherent risks and uncertainties. These could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our annual report on Form 10-K as well as our most recent 10-Q filing to be filed with the Securities and Exchange Commission. Such factors may be updated from time to time in our filings with the SEC, which are available on our website. We undertake no obligation to publicly update or revise our forward-looking statements as a result of new information, future events or otherwise.

This call will also include references

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It’s a challenging operating and macro environment for retailers. And perhaps no one knows that better than the real estate firm Simon, which owns and invests primarily in shopping, dining, entertainment and mixed-use destinations.

“There is inability for retailers to eat the tariffs entirely, so they’re going to have to pass it along or renegotiate better vendor deals,” said David Simon, chairman, CEO and president of Simon Property Group, said during the Q&A of his firm’s third quarter 2025 earnings call Monday (Nov. 3).

“I continue to believe tariffs will have an impact. We have not seen all of it. … Some of that will be passed on to the supplier, some will be eaten by the retailer, and some will be passed along to the consumer,” Simon added. “Let’s see what happens over the holidays.”

Still, for Simon, the uncertainty of tariffs and consumer price sensitivity was overshadowed, at least temporarily, by its core metrics. The company reported that its funds from operations, a favored REIT metric, rose to $1.228 billion, versus $1.067 billion a year ago, fueled by a combination of rising occupancy, higher rent per square foot and strong tenant sales.

Simon’s occupancy among U.S. malls and premium outlets rose to 96.4%, up from 96.2% a year prior; while base minimum rent per square foot rose 2.5% to $59.14, compared with $57.71 in the prior year. And for the trailing 12 months, Simon reported retailer sales per square foot stood at $742.

“Healthy demand was seen across all our platforms and is reflected in our results.  Occupancy gains continued, retailer sales accelerated, and cash flow increased,” CEO Simon said.

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Read more: Tariff Tally: Global Losses Eclipse $35 Billion Going Into Q3 Earnings 

New Economics of Foot Traffic
Over the last decade, retail real estate has been painted as the canary in the coal mine for physical-world commerce: vulnerable to eCommerce, experiential substitution and seismic shifts in consumer behavior. But destination malls and premium outlets — especially those able to innovate or lean into mixed-use and entertainment — are showing glimmers of resilience. 

Simon, by virtue of its scale and positioning in “destination” retail formats, is crystallizing its role as a kind of barometer for physical retail real estate.

From a strategic perspective, Simon’s reaffirmation of its dividend, declaring a quarterly common-stock dividend of $2.20 for Q4 2025, a 4.8% increase from the prior year, signals confidence in the cash flow underpinning the business. But that cash flow could be put to the test during traditionally peak shopping seasons during the upcoming months as tariffs continue to bite retailers.

PYMNTS Intelligence found that 1 in 3 U.S. consumers said a retailer explicitly cited tariffs as the reason for higher prices, while another nearly 25% heard vague references to “increased costs.”

The PYMNTS Intelligence report “The Enterprise Reset: Navigating Tariffs, Supply Chain Shifts and Cost Pressures” found that companies have cut costs, diversified foreign suppliers, localized sourcing and reengineered operations to boost their resilience and stay competitive. The 2025 Certainty Project found that the most common response (65%) is to negotiate with suppliers.

Read more: Merchants and Marketplaces Must Speak the Language of Agents to Compete 

Positioning for a Future of AI Agents
If Simon has learned anything from the firm’s 70-year history, it’s that retail real estate cannot survive on legacy economics alone. The company is exploring integrations with emerging technologies. Not to replace physical retail, but to power it in new ways.

Asked about the threat of agentic artificial intelligence (AI) commerce during the analyst Q&A, Simon expressed his belief that the impact would be primarily for “eCommerce shoppers. … I believe this will all shake out in the next three to five years.”

Still, the potential advent of AI-powered shopping agents may have clear implications for Simon and other large property owners. If brands rely more on automation to drive sales, the role of physical spaces shifts yet again: less about inventory turnover, more about brand immersion. Premium outlets and mixed-use centers might become crucial real-world endpoints for fulfilling higher-touch service experiences that AI may struggle to mimic.

Data from PYMNTS Intelligence shows that AI shopping adoption is already gaining ground among younger and middle-aged consumers. About one-third of all respondents (32%) said they have used or would use generative AI for shopping.

Bridge millennials — older millennials straddling Gen X — lead the way, with 38% reporting AI use for shopping. Zillennials are close behind at 36%, followed by millennials at 35% Gen X is next, at 33%, while Gen Z comes in at 31%. Baby boomers show some traction as well, with 28% using gen AI for shopping. Overall, 32% of people surveyed said they used gen AI for shopping. 

LOS ANGELES--(BUSINESS WIRE)--Synopsys, Inc. Sued for Securities Law Violations - Contact the DJS Law Group to Discuss Your Rights – SNPS.

Syndax Pharmaceuticals, Inc. (SNDX) Q3 2025 Earnings Call November 3, 2025 4:30 PM EST

Company Participants

Sharon Klahre - Vice President of Investor Relations & Communications
Michael Metzger - CEO & Director
Steven Closter - Chief Commercial Officer
Nicholas Botwood - Head of Research & Development and Chief Medical Officer
Keith Goldan - CFO, Treasurer & Chief Accounting Officer

Conference Call Participants

Priyanka Grover - JPMorgan Chase & Co, Research Division
Corinne Jenkins - Goldman Sachs Group, Inc., Research Division
Bradley Canino - Guggenheim Securities, LLC, Research Division
Yuxi Dong - Jefferies LLC, Research Division
Peter Lawson - Barclays Bank PLC, Research Division
Ellen Horste - TD Cowen, Research Division
Stephen Willey - Stifel, Nicolaus & Company, Incorporated, Research Division
Yigal Nochomovitz - Citigroup Inc., Research Division
Justin Zelin - BTIG, LLC, Research Division
Salim Syed - Mizuho Securities USA LLC, Research Division
Xiaochuan Dai - UBS Investment Bank, Research Division
Mayank Mamtani - B. Riley Securities, Inc., Research Division
Jason Zemansky - BofA Securities, Research Division

Presentation

Operator

Good day, everyone, and welcome to the Syndax Third Quarter 2025 Earnings Conference Call. Today's call is being recorded. [Operator Instructions]

At this time, I would like to turn the call over to Sharon Klahre, Head of Investor Relations at Syndax Pharmaceuticals.

Sharon Klahre
Vice President of Investor Relations & Communications

Thank you, operator. Welcome, and thank you all for joining us today for a review of Syndax's Third Quarter 2025 Financial and Operating Results.

I'm Sharon Klahre. With me this afternoon to provide an update on the company's progress and discuss financial results are Michael Metzger, Chief Executive Officer; Steve Closter, Chief Commercial Officer; Dr. Nick Botwood, Head of R&D and Chief Medical Officer; and Keith Goldan, Chief Financial Officer. Also joining us on the call today for the question-and-answer session are Dr. Peter Ordentlich, Chief Scientific Officer; and Dr. Anjali Ganguli, Chief Strategy Officer. This call is accompanied by a slide deck that has been posted on the Investor

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Kforce Inc. (KFRC) Q3 2025 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

Joseph Liberatore - CEO, President & Director
David Kelly - COO, Chief Administrative Officer & Corporate Secretary
Jeffrey Hackman - CFO & Principal Financial Officer

Conference Call Participants

Trevor Romeo - William Blair & Company L.L.C., Research Division
Alexander Sinatra - Robert W. Baird & Co. Incorporated, Research Division
Tyler Barishaw - Truist Securities, Inc., Research Division
Karandeep Singhania - UBS Investment Bank, Research Division
Marc Riddick - Sidoti & Company, LLC

Presentation

Operator

Good day, everyone, and welcome to the Kforce Q3 2025 Earnings Call. Just a reminder that this call is being recorded.

I would now like to hand the conference over to Mr. Joe Liberatore. Please go ahead, sir.

Joseph Liberatore
CEO, President & Director

Good afternoon, and thank you for your time today.

This call contains certain statements that are forward-looking, are based upon current assumptions and expectations and are subject to risks and uncertainties. Actual results may vary materially from the factors listed in Kforce's public filings and other reports and filings with the SEC. We cannot undertake any duty to update any forward-looking statements. You can find additional information about our results in our earnings release and our SEC filings.

In addition, we have published our prepared remarks within the Investor Relations portion of our website.

Results for the third quarter exceeded our expectations across the board, with overall revenues of $332.6 million and earnings per share of $0.63, both surpassing the high end of guidance. We mentioned on our last call that we experienced unexpected early quarter assignment ends at a select few clients in our Technology business. Subsequently, we were successful at driving a consistent expansion in the number of consultants on assignment throughout the third quarter.

I also want to

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November 03, 2025 9:10 PM EST | Source: Greenfire Resources Ltd.
Calgary, Alberta--(Newsfile Corp. - November 3, 2025) - Greenfire Resources Ltd. (NYSE: GFR) (TSX: GFR) ("Greenfire" or the "Company"), today announced its intention to undertake a rights offering of its common shares for gross proceeds of approximately C$300 million (the "Rights Offering").

The Rights Offering is expected to be made to all holders of Greenfire's common shares of record as of a record date to be determined.

In connection with the Rights Offering, the Company expects to enter into a standby purchase agreement with certain limited partnerships comprising Waterous Energy Fund, a current holder of approximately 55.9% of the Company's outstanding common shares (collectively, "WEF Shareholders"), pursuant to which the WEF Shareholders would commit to fully exercise their basic subscription privilege and purchase any common shares not otherwise subscribed for, up to an aggregate of C$300 million (the "WEF Standby Commitment"). No fee will be payable to WEF as part of the WEF Standby Commitment.

The detailed terms of the Rights Offering, including the WEF Standby Commitment, will be determined prior to commencement through negotiations between the WEF Shareholders and a special committee comprised of independent directors of Greenfire that has been established in connection with the Rights Offering. Subject to market conditions, Greenfire expects that the subscription price for the Rights Offering will reflect a discount no greater than the minimum 15% discount required under applicable TSX rules.

Net proceeds from the Rights Offering, together with cash on hand are expected to be used to fund the redemption of the Company's US$237.5 million of outstanding senior secured notes due 2028 (the "2028 Notes") at a redemption price of 106% plus any accrued and unpaid interest. Greenfire expects to issue a conditional notice of redemption in respect of the 2028 Notes following the formal launch of the Rights Offering.

The Rights Offering is expected to be made in Canada pursuant to a Canadian rights offering circular to be filed with Canadian securities regulators, and in the United States pursuant to a registration statement on Form F-10 to be filed with the U.S. Securities and Exchange Commission that will contain the Canadian rights offering circular. The Rights Offering is subject to the execution of definitive documentation, receipt of all necessary approvals, and market and other conditions. The Company may elect not to proceed with the Rights Offering or may modify its terms, timing and conditions.

This press release is issued pursuant to, and in accordance with, Rule 135 under the U.S. Securities Act of 1933, as amended (the "US Securities Act"), and is not an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. Any offering of securities will be made only in accordance with the registration requirements of the US Securities Act and other applicable securities laws.

No securities regulatory authority has either approved or disapproved the contents of this press release.

About Greenfire

Greenfire is an oil sands producer actively developing its long-life and low-decline thermal oil assets in the Athabasca region of Alberta, Canada, with its registered offices in Calgary, Alberta. The Company plans to leverage its large resource base and significant infrastructure in place to drive meaningful, capital-efficient production growth. As part of the Company's commitment to operational excellence, safe and reliable operations remain a top priority for Greenfire. Greenfire common shares are listed on the New York Stock Exchange and Toronto Stock Exchange under the trading symbol "GFR". For more information, visit greenfireres.com or find Greenfire on LinkedIn and X.

Forward-Looking Information

This news release contains certain "forward-looking statements" concerning anticipated future events, results, circumstances, performance or expectations with respect to the Company and its operations, including its strategy and financial performance and condition. Forward-looking statements include statements that are predictive in nature, depend upon future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "intends", "targets", "projects", "forecasts", "schedule", or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could". The forward-looking statements contained in this news release include, but are not limited to: the Rights Offering, the expected standby commitment of the WEF Shareholders, the anticipated use of proceeds to redeem the outstanding 2028 Notes, and the filing of a registration statement on Form F-10. Forward-looking statements are based on underlying assumptions and management's beliefs, estimates and opinions, and are subject to inherent risks and uncertainties surrounding future expectations generally that may cause actual results to vary from plans, targets and estimates. Some of the important risks and uncertainties that could affect forward-looking statements include, but are not limited to: finalization of the terms of the contemplated WEF Standby Commitment, final determination of the overall size and price of the Rights Offering; and operational, general economic, market and business conditions, regulatory developments and weather. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond the Company's control. Such risks and uncertainties include, but are not limited to, the factors discussed under the heading "Risk Factors" in the Company's Annual Information Form dated March 17, 2025 which is available under the Company's issuer profile on SEDAR+ at www.sedarplus.ca and on EDGAR at www.sec.gov. The Company cautions readers that actual results may vary significantly from those expected should certain risks or uncertainties materialize or should underlying assumptions prove incorrect. Forward-looking statements are provided for the purpose of providing information about management's current expectations and plans relating to the future. Readers are cautioned that such information may not be appropriate for other purposes. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273079

Eric’s risk/reward market framework… why it means he won’t buy today’s AI darlings… nosebleed market valuations… a check-in on our exit plan… Luke’s energy investment playbook
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I don’t sit here today and go, “Nvidia’s a terrible stock.” It’s not a terrible stock. It’s been a great stock. It’s a great company run by great people…

But other companies, in my opinion, offer vastly superior potential reward versus the risk than Nvidia does today.

That comes from our macro investing expert, Eric Fry, of Fry’s Investment Report.

Last week, he sat down with our Editor-in-Chief and fellow Digest writer, Luis Hernandez, for our Preferred Member Quarterly Call interview.

While the chat covered a great deal of ground, let’s begin today with this topic of risk and reward to explain why Eric is hands-off on Nvidia, and what he recommends instead.

Today, the broad market’s long-term setup offers plenty of risk – but how much reward?
A few examples…

The “Buffett Indicator” is Warren Buffett’s preferred macro indicator. It’s essentially the total value of U.S. publicly-traded stocks (or a broad market index) divided by the size of the U.S. economy (GDP).

In his 2001 interview with Fortune, the Oracle of Omaha said:

If the ratio approaches 200% – as it did in 1999 and a part of 2000 – you are playing with fire.

So, where are we today?

At the highest level ever recorded.

According to BuffettIndicator.net, as of October 31, the number clocked in at 224.7%.

Next, there’s the Cyclically-Adjusted Price-to-Earnings Ratio (CAPE or “Shiller P/E”). This is a variation of the P/E ratio that uses the 10-year average of inflation-adjusted earnings to smooth out booms & busts.

As I write on Monday, it sits a hair under 41, whereas the long-term average is roughly in the mid-teens (about 17).

The chart below shows that this is the second-highest level in more than 150 years of market data.

Source: Multpl.com

Finally, there’s the Price-to-Sales Ratio (P/S) for the broad market.

This compares the price of the market (or an index) to the total revenues of its companies. Sales tend to be more stable than earnings, which can swing for a variety of reasons.

For the S&P 500, the P/S ratio is 3.376. In other words, investors are paying about $3.38 for every $1 of recent annual revenues.

The historical median is about ~1.6X. So, we’re more than twice as expensive.

Now, let’s be clear…

This doesn’t mean a crash is imminent, or even certain. You can find valid reasons to explain away some of these lofty valuations. But it does mean each of us must be aware of the size of the potential risk that we’re accepting in exchange for the scope of the potential reward.

Eric’s reward/risk take on Nvidia
As noted a moment ago, Eric believes Nvidia is a fantastic company and a dominant stock. But his investment criteria has him looking elsewhere.

Here’s his full rationale:

My whole process tries to zero in on asymmetric risks and rewards – opportunities that give you, let’s say, ten units of potential reward for every unit of risk you take. And to avoid the things that are the opposite. Lots of risk. Not much potential reward.

So, I’m looking at opportunity in terms of “better than, worse than” …

Maybe two years from now, Nvidia’s 50% higher than it is today. If it is, my assumption is that the stocks I’m recommending are going to be 60% higher.

I don’t sit here today and go, “Nvidia’s a terrible stock.” But other companies, in my opinion, offer vastly superior potential reward versus the risk than Nvidia does today.

To be clear, Eric isn’t picking on Nvidia. He’s cautious about many of the market’s AI darlings currently trading at nosebleed valuations – and he’s suggesting investors look elsewhere:

A lot of people think you can’t make any money in [stocks that aren’t AI leaders today]. But the reality is, if things are going the way I think they will, that’s going to be about the only place you’re going to make any money over the next three years…

If you’re going to buy [the AI darlings] at sky-high valuations, you’d better have a 30-year time horizon.

We encourage you to set aside some time this week to review your portfolio holdings.

Where are their valuations? Are you comfortable with them? Have you considered the potential hold period if the next three years bring the headwinds Eric references?

I want to cover more ground in today’s Digest, but for a deeper dive here, Eric recently published a “Sell This, Buy That” research package that reveals the other AI darlings he’s recommending investors to sell today – and what to buy instead.

From Eric:

I’ve compiled a list of three companies that I believe are “Buys.”

These are under-the-radar, early opportunities that can help you protect and multiply your money during make-or-break markets.

You can find the details of these companies – ticker symbols and all – in my special broadcast, free of charge.

But in the meantime, the AI market darlings are in charge
You’re aware of this, but perhaps not to the full extent of it.

From JPMorgan’s Michael Cembalest:

I think this is well understood, but just to reinforce the point: AI-related stocks have accounted for 75% of S&P 500 returns, 80% of earnings growth and 90% of capital spending growth since ChatGPT launched in November 2022.

Today, AI is the name of the game, period. And momentum is strong.

Investors shouldn’t overlook or discount this reality – no matter today’s valuations.

Fundamentals and valuations absolutely matter, but betting against a trend is like trying to swim against a fast-moving current. Many once-confident investors have gone broke waiting for the market to “make sense” under their cash flow models and valuation math.

That’s why one of the principal ways we’re analyzing today’s market – and how long to remain a part of it – is through technical analysis that, in part, uses the 200-day moving average (MA).

We outlined our plan in our October 13, 2025, Digest that featured senior analyst Brian Hunt’s “A, B, C” Framework.

We encourage you to review it, but in short, it uses the S&P’s 200-day MA as a key indicator telling us when it’s time to get out of the way of a crashing bear. When the S&P’s price triggers a handful of milestones beneath the 200-day MA, it’s time to sell.

We’re not trying to exit at the top, but rather, shortly after the top, before the worst of the bear arrives.

As a quick check-in, as you can see below, we’re nowhere close to the 200-day MA today.

Now, this doesn’t mean the S&P couldn’t fall, say, 5% tomorrow, with some individual stocks pulling back double digits.

Look again at the chart and you’ll see that today’s price is overextended relative to the 200-day MA. It would be normal – even healthy – for the S&P to pull back.

But given that we’re nowhere close to the three triggers Brian identifies in his A, B, C System, we’re sticking with momentum.

Bottom line: The bull is still charging – let’s not fight it.

Finally, let’s end with stock ideas for trading this market
To set the stage, let’s return to the JPMorgan piece from above:

Data centers are eclipsing office construction spending and are coming under increased scrutiny for their impact on power grids and rising electricity prices.

Specialized power rates for most data centers aren’t enough to cover costs of a new natural gas plant (leaving other customers to foot part of the bill), and in the PJM region, 70% of last year’s increased electricity cost was the result of data center demand.

In Friday’s Digest, we covered AI’s insatiable appetite for energy due to this datacenter/AI infrastructure buildout with the help of our technology expert, Luke Lango. We stressed how, as AI becomes more powerful, it will demand even more electricity.

According to Goldman Sachs, U.S. data center electricity demand is set to double by 2030, and that estimate may already be conservative. Meanwhile, the International Energy Agency has recently warned that the AI boom alone could consume as much power as an entire industrialized nation, such as Japan, within just a few years.

So, how do we play this?

Let’s return to Luke for some ideas:

Deal flow is migrating to electrons: generation, grid, and backup…

Morningstar pegs 2025–2030 U.S. grid capex at ~$1.4 trillion, which is more than double the prior decade.

Here’s my three-layer framework:

Utilities / IPPs

Own the sellers of electricity AI will buy for years. Favorites include Constellation Energy (CEG) and Vistra (VST).

Nuclear & Uranium

Big reactors and SMRs are back. Buy Cameco (CCJ) for uranium; Global X Uranium ETF (URA) for basket exposure; Oklo (OKLO) and NuScale (SMR) as next-gen reactor names; Centrus Energy (LEU) and BWX Technologies (BWXT) as component suppliers.

Energy Storage / Backup

Data centers can’t go dark. Buy Bloom Energy (BE) for fuel cells; Fluence (FLNC) and Eos Energy (EOSE) for batteries. Storage also accelerates time-to-power: build the battery now, plug into the grid later.

Capex cycles end, but if grid spend really doubles into 2030, we’re in the early innings.

(Disclaimer: I own URA.)

If you’d like to access all of Luke’s AI research, including his top AI recommendations, click here to learn about joining him in Innovation Investor.

I will point out that Luke is watching today’s market with an awareness of what comes afterward…
While he sees enormous opportunity today, Luke has warned his readers of what history suggests is on the other end of this boom tomorrow.

He forecasts that we have another 12-18 months or so of a bull market. Perhaps longer, maybe shorter. No one knows exactly.

This timing gray area – with “boom” on one end and “bust” on the other – brings us back to Eric’s spotlight on risk and reward.

How much risk of the bust are you willing to accept for your estimation of what’s left in the boom?

Here’s where Luke stands today:

Bottom line: The AI bazooka is still firing.

Stay in the blast radius … especially across power, nuclear, and storage … but keep one eye on credit and jobs, and the other on your 200-day.

That’s how we stay in the game now.

If we haven’t mapped out your own plan for “staying in the game,” we recommend you make that a priority.

Have a good evening,

Jeff Remsburg

Fabrinet (FN) Q1 2026 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

Garo Toomajanian - Vice President of Investor Relations
Seamus Grady - CEO & Chairman
Csaba Sverha - Executive VP & CFO

Conference Call Participants

Karl Ackerman - BNP Paribas, Research Division
Samik Chatterjee - JPMorgan Chase & Co, Research Division
Michael Genovese - Rosenblatt Securities Inc., Research Division
George Notter - Wolfe Research, LLC
Ryan Koontz - Needham & Company, LLC, Research Division
Timothy Savageaux - Northland Capital Markets, Research Division

Presentation

Operator

Good afternoon. Welcome to Fabrinet's Financial Results Conference Call for the First Quarter of Fiscal Year 2026. [Operator Instructions] As a reminder, today's call is being recorded.

I would now like to turn the call over to your host, Garo Toomajanian, VP of Investor Relations.

Garo Toomajanian
Vice President of Investor Relations

Thank you, operator, and good afternoon, everyone. Thank you for joining us on today's conference call to discuss Fabrinet's financial and operating results for the first quarter of fiscal year 2026, which ended September 26, 2025. With me on the call today are Seamus Grady, Chairman and Chief Executive Officer; and Csaba Sverha, Chief Financial Officer. This call is being webcast, and a replay will be available on the Investors section of our website located at investor.fabrinet.com.

During this call, we will present both GAAP and non-GAAP financial measures. Please refer to the Investors section of our website for important information, including our earnings press release and investor presentation, which include our GAAP to non-GAAP reconciliation as well as additional details of our revenue breakdown. In addition, today's discussion will contain forward-looking statements about the future financial performance of the company. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from management's current expectations. These statements reflect our opinions only as of the date of this presentation

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Analyst’s Disclosure:I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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NEW YORK CITY & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of REV Group, Inc. (NYSE: REVG) to Terex Corporation (NYSE: TEX). Under the terms of the proposed transaction, shareholders of REV Group will receive $8.71 in cash plus 0.9809 of a share of the combined company for each share of REV Group that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-revg/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

CONNECT WITH US: Facebook || Instagram || YouTube || TikTok || LinkedIn

More News From Kahn Swick & Foti, LLC

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NEW YORK & NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Civitas Resources, Inc. (NYSE: CIVI) to SM Energy Company (NYSE: SM). Under the terms of the proposed transaction, shareholders of Civitas will receive 1.45 shares of SM Energy common stock for each share of Civitas that they own. KSF is seeking to determine whether this consideration and the process that led to it are adequate, or whether the consideration undervalues the Company.

If you believe that this transaction undervalues the Company and/or if you would like to discuss your legal rights regarding the proposed sale, you may, without obligation or cost to you, e-mail or call KSF Managing Partner Lewis S. Kahn ([email protected]) toll free at any time at 855-768-1857, or visit https://www.ksfcounsel.com/cases/nyse-civi/ to learn more.

To learn more about KSF, whose partners include the Former Louisiana Attorney General, visit www.ksfcounsel.com.

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By

PYMNTS
 | 
November 3, 2025

 | 

Highlights

Consumers remain cautious heading into the holidays, but value-driven shopping behavior is fueling strong demand for online thrift and secondhand apparel.

ThredUp’s rebrand and new AI-powered personalization tools are deepening customer engagement and driving record new buyer acquisition.

The company’s move into peer-to-peer resale and continued growth in its Resale-as-a-Service partnerships signal a broader strategy to capture multiple resale channels.

The resale platform ThredUp reported its strongest year-over-year growth in nearly four years, buoyed by record new customer acquisition and higher engagement from existing buyers.

But consumers are cautious moving into the holidays, according to commentary on the conference call after the market closed on Monday (Nov. 3).

Company materials indicated that revenue rose 33.6% to $82.2 million for the quarter ended Sept. 30.

CEO James Reinhart credited the results to what he called “exceptional customer growth and orders in our business,” with new buyer acquisition up 54% year over year and active buyers up 26%. Orders climbed 37% from a year earlier. He added that October was “the best month for new customer acquisition in our history,” up 81% year over year.

Balancing Growth and Caution
Despite the strong quarter, Reinhart said the company remains “cautious on the state of the broader American consumer” and expects price sensitivity to remain a defining feature of holiday spending.

“Price and value will be of utmost importance this holiday season,” he said, noting that the shift in spending patterns could favor secondhand retail, even as consumers pull back in other categories.

Advertisement: Scroll to Continue

CFO Sean Sobers said the guidance for the fourth quarter reflects both the positive trends in the business and the seasonal slowdown that typically follows October’s strength. He guided revenue growth in the current quarter to 14% year over year at the midpoint. 

Shares slipped 3% Monday in after-hours trading.

Sobers added that while the company remains cautious heading into the holidays, it plans to continue reinvesting in marketing and inbound processing.

Rebrand, AI Tools
Reinhart took note of the September launch of a rebranded experience on ThredUp. “The unifying theme is ‘fashion meet forever,’ which speaks to our ambitions of building a more emotional long-term relationship with our customers,” he said. 

The rebrand coincided with the debut of two AI-driven features: the Daily Edit, which refreshes each user’s curated selection of 100 items daily, and the Trend Report, which combines internal data with social trends to generate real-time style suggestions. Reinhart said both tools have boosted conversion rates and engagement.

Asked about the performance of the company’s new personalization and premium supply offerings, Reinhart said, “Premium has really grown nicely this year from really zero to north of 20%. I think there’s more room to run on it.”

P2P and Resale-as-a-Service
Beyond the marketplace, ThredUp continues to diversify supply channels. Reinhart said the company’s Resale-as-a-Service (RAS) model, which powers branded resale programs, added New York & Co. and CodeAvoxie during the quarter.

“The pipeline feels very good for some of these brands to either sign for the first time or switch over,” he said. 

He also previewed ThredUp’s next growth vector: a peer-to-peer marketplace now in closed beta. The platform allows users to sell directly to one another, while ThredUp vets sellers and manages returns.

By leveraging ThredUp’s logistics network, he said, “we can now offer this as an option to buyers, given our power to resell returned items in our marketplace.” Sellers, he added, will be able to choose between direct selling and the company’s traditional clean-out kit model.

He argued that existing peer-to-peer platforms have “lost the plot a little,” creating an opening for ThredUp to introduce more curation and trust. “I think that’s the path we’re on.” 

He added that ThredUp’s continued investment in AI and first-party data will strengthen its competitive position in the evolving resale landscape. “In resale, supply is the name of the game,” Reinhart said. “I think we’re continuing to distance ourselves from others and having the best supply out there.”

V2X, Inc. (VVX) Q3 2025 Earnings Call November 3, 2025 4:30 PM EST

Company Participants

Michael Smith - Corporate Vice President, Treasurer, Corporate Development & Investor Relations
Jeremy Wensinger - President, CEO & Director
Shawn Mural - Senior VP & CFO

Conference Call Participants

Peter Arment - Robert W. Baird & Co. Incorporated, Research Division
Jonathan Siegmann - Stifel, Nicolaus & Company, Incorporated, Research Division
Andre Madrid - BTIG, LLC, Research Division
Kenneth Herbert - RBC Capital Markets, Research Division
Tobey Sommer - Truist Securities, Inc., Research Division
Joseph Gomes - NOBLE Capital Markets, Inc., Research Division
Trevor Walsh - Citizens JMP Securities, LLC, Research Division
Kristine Liwag - Morgan Stanley, Research Division
Noah Poponak - Goldman Sachs Group, Inc., Research Division

Presentation

Operator

Thank you for joining us for the V2X Third Quarter 2025 Earnings Conference Call and Webcast. Today's call is being recorded. My name is Steve, and I'll be the operator for today's call. [Operator Instructions]

And now I'll pass the call over to your host, Mike Smith, Vice President of Treasury, Investor Relations and Corporate Development at V2X.

Michael Smith
Corporate Vice President, Treasurer, Corporate Development & Investor Relations

Thank you. Good afternoon, everyone. Welcome to the V2X Third Quarter 2025 Earnings Conference Call. Joining us today are Jeremy Wensinger, President and Chief Executive Officer; and Shawn Mural, Senior Vice President and Chief Financial Officer. Slides for today's presentation are available on the Investor Relations section of our website, gov2x.com.

Please turn to Slide 2. During today's presentation, management will be making forward-looking statements pursuant to the safe harbor provisions of the federal securities laws. Please review our safe harbor statements in our press release and presentation materials for a description of some of the factors that may cause actual results to differ materially from the results contemplated by these forward-looking statements. The company assumes no obligation to

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Qorvo, Inc. (QRVO) Q2 2026 Earnings Call November 3, 2025 4:30 PM EST

Company Participants

Doug DeLieto - Vice President of Investor Relations
Robert Bruggeworth - President, CEO & Director
Grant Brown - Senior VP & CFO
David Fullwood - Senior Vice President of Sales & Marketing
Philip Chesley - Senior VP & President of High Performance Analog
Frank Stewart - Senior VP & President of Advanced Cellular

Conference Call Participants

Karl Ackerman - BNP Paribas, Research Division
Christopher Caso - Wolfe Research, LLC
Harsh Kumar - Piper Sandler & Co., Research Division
Christopher Rolland - Susquehanna Financial Group, LLLP, Research Division
Sreekrishnan Sankarnarayanan - TD Cowen, Research Division
James Schneider - Goldman Sachs Group, Inc., Research Division
Edward Snyder - Charter Equity Research
Peter Peng - JPMorgan Chase & Co, Research Division

Presentation

Operator

Good day, and welcome to the Qorvo, Inc. Second Quarter 2026 Earnings Conference Call. [Operator Instructions] Please note that this conference is being recorded.

I would now like to turn the conference over to Doug DeLieto, Vice President, Investor Relations. Thank you, and over to you.

Doug DeLieto
Vice President of Investor Relations

Thanks very much. Hello, everyone, and welcome to Qorvo's Fiscal 2026 Second Quarter Earnings Call. This call will include forward-looking statements that involve risk factors that could cause our actual results to differ materially from management's current expectations. We encourage you to review the safe harbor statement contained in the earnings release published today as well as the risk factors associated with our business in our annual report on Form 10-K filed with the SEC because these risk factors may affect our operations and financial results.

In today's release and on today's call, we provide both GAAP and non-GAAP financial results. We provide this supplemental information to enable investors to perform additional comparisons of operating results and to analyze financial performance without the impact

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November 03, 2025 8:00 PM EST | Source: Deveron Corp.
Asset sale offer provides solution for liquidity issues and maturing debt
Voting support agreements in favour of the transaction have been entered into with various
 Shareholders representing approximately 52% voting interest
Consent agreements have been entered into with 66.9% of the company's debenture holders

Toronto, Ontario--(Newsfile Corp. - November 3, 2025) - Deveron Corp. (TSXV: FARM) ("Deveron" or the "Company"), a leading agriculture services and data company in North America, announces that upon the completion of a strategic review by its board of directors, in the face of significant liquidity issues it has entered into a share and asset purchase agreement (the "Purchase Agreement") dated November 3, 2025, with affiliates of Rock River Laboratory Inc. ("Rock River") whereby Deveron will sell all of its assets, including its 66.6% equity holding in A&L Canada Laboratories East, Inc. ("A&L East") to Rock River. The minority owners in A&L East (the "Minority Vendors") have also agreed to sell their remaining ownership to Rock River (together, with the sale by Deveron of all of its assets, "Transaction"). Aqua Capital, a private equity firm specializing in the food and agribusiness sectors with US$1.1bn in assets under management, will provide equity to the Transaction and remain the controlling shareholder of Rock River upon completion of the Transaction.

As consideration for the Transaction (including the 1/3 minority interest in A&L East), Rock Rover shall pay an aggregate of US$36.4 M. In satisfaction of this consideration, upon closing, the Company and the Minority Vendors will receive a combination of cash, Secured Seller Notes (the "Seller Notes") of Rock River (which Seller Notes are second secured, accrue interest at the Canada Bank prime rate and mature in December, 2029) and equity in Rock River ("Rock River Equity"), as follows:

Total Consideration

US$18.9 M to repay TD Bank's outstanding debtUS$7.8 M in cashUS$6.2 M Seller Notes US$3.5 M in Rock River EquityFuture potential earnout considerations of US$1 MConsideration to Deveron

US$10.6 M, payable as follows: US$4.8 M in cash (which will be used to retire certain secured debt obligations of Deveron and certain earnout payments)US$3.4 M of Seller NotesUS$1.4 M in Rock River EquityUS$1.0 M cash to Deveron shareholders as return of capitalFuture potential earnout of US$0.57 MConsideration to Minority Vendors

US$6.9 M, payable as follows:US$2 M in cashUS$2.8 M of Seller Notes US$2.1 M in Rock River Equity Future potential earnout of US$0.43 MThe proceeds of the Transaction outlined above and below are subject to adjustment for, among other things, any difference from the estimated cash position on closing of the Transaction, customary working capital adjustments and foreign exchange fluctuations. One of the Minority Vendors and two third parties who are owed earnout payments will receive an aggregate of US$300,000 of profit participation units of Rock River to settle outstanding amounts owed to them.

Deveron Consideration Summary

The US$4.8M cash consideration will be paid on closing to Deveron USA, a wholly-owned subsidiary of the Company, which will be used to settle certain secured promissory notes of Deveron USA: US$393,000 senior secured bridge loans, plus accrued interest, US$3,481,012 of secured promissory notes, plus accrued interest and US$835,260 of notes owed under certain earnout payments owing to third parties, with remaining proceeds used to pay customary closing fees and other project-related expenses. This leaves Deveron USA with no additional funds.

Holders of the Company's US$10.9M of outstanding convertible debentures, have agreed to amend the debentures so as to reduce the principal amount and accrued interest thereon, and accept in settlement thereof an aggregate of US$3.4 M of Seller Notes, US$1.18 M of equity in Rock River (which will be held in trust by the Company on behalf of the debenture holders), and an entitlement to a potential earnout payment of US$0.57M in the event that Aqua Capital achieves a specified return on its initial capital investment in Rock River, which will accrue solely to the holders of the debentures and Minority Vendors. Additionally, US$0.2 M of equity in Rock River will be held in trust by the Company on behalf of the holders of certain secured promissory notes of Deveron USA to satisfy the obligations under such notes. All of the above shall be subject to closing adjustments and exchange rate fluctuations up to closing. In addition, the debenture holders have consented to the Transaction, and agreed to extend the maturity of the debentures to the earlier of the closing of the Transaction or the termination of the Purchase Agreement.

Over 66.6% of the Creditors have entered into consent agreements to accept the following consideration as consideration for retirement of the Creditors' claims:

Creditor's Individual Consideration

$0.47 per dollar of the principal amount owed to a holder of a debenture which includes accrued interest for convertible debenture holders broken down as follows:$0.31 per dollar owed of Seller Notes$0.11 per dollar owed in Rock River Equity$0.05 per dollar owed in potential earn-out consideration Common Shareholder Consideration

The holders of common shares of Deveron will receive an aggregate of US$1.0 M in cash as a return of capital, which is the equivalent of approximately $0.0067 per share. The Company will provide further details in respect of the distribution of consideration to the shareholders of the Company, in due course, by way of one or more press releases.

Transaction Highlights

RRL Ultimate Parent, LLC ("Parent", a wholly owned subsidiary of Rock River), 1001388516 Ontario Inc. ("BidCo", a wholly owned subsidiary of Rock River, and together with Parent, the "Share Purchasers"), Maple Newco, LLC (the "US Buyer" and together with the Share Purchasers, the "Purchasers"), Deveron USA, Woods End Laboratories, LLC ("Woods End", and together with Deveron USA, the "Asset Vendors", which are each wholly-owned subsidiaries of the Company) and certain minority vendors (collectively the "Minority Vendors" and together with the Company and the Asset Vendors, the "Vendors") have entered into a share and asset purchase agreement (the "Purchase Agreement"), whereby the Purchasers shall acquire (the "Transaction"): (i) all of the securities (the "Purchased Shares") in the capital of A&L East; and (ii) all of the assets of Deveron USA and Woods End (the "Purchased Assets").

The Purchase Agreement includes certain representations and warranties of the Vendors in favour of the Purchasers. The Purchase Agreement includes payment of a "termination fee" in the amount of US$2.0 M payable by the Company to the Purchasers in the event that, among other things,: (i) the Company receives a superior proposal with respect to the Purchased Assets; and US$1.0 M payable by the Company to the Purchasers in the event that, among other things, the Company does not receive shareholder approval for the Transaction. The summary of the Purchase Agreement as set out in this press release is qualified in its entirety by the full text of the Purchase Agreement, a copy of which will be filed under the Company's profile on SEDAR+ at www.sedarplus.ca.

The Transaction constitutes a Reviewable Disposition as defined in Policy 5.3 - Acquisitions and Dispositions of Non-Cash Assets ("Policy 5.3") of the TSX Venture Exchange Inc. ("TSXV") and, as such, completion of the Transaction remains subject to shareholder approval and the approval of the TSXV.

The Company intends to hold a meeting of its shareholders on or before December 31, 2025 (the "Meeting"). Closing is also subject to certain other conditions which are customary for a transaction of this nature. The Company and the Purchasers are not "Non-Arm's Length Parties" within the meaning of applicable TSXV polices, and the purchase price of the Purchased Assets and all ancillary agreements were arrived at through arm's-length negotiations.

Voting Support Agreements

Directors, officers and shareholders of the Company holding an aggregate number of shares of the Company which represent approximately 52% of the currently outstanding common shares in the capital of Deveron have entered into customary support agreements with Rock River to vote their shares in favour of the Transaction.

The Company will file a material change report in respect of the Transaction, and a copy of the Purchase Agreement and the form of voting support agreements will be filed with the applicable Canadian securities regulators and will be available for review on SEDAR+ at www.sedarplus.ca. Full details of the Transaction will be included in the management information circular of the Company describing the matters to be considered at the Meeting. A copy of the management information circular will be made available on SEDAR+ (www.sedarplus.ca) under the profile of the Company.

Completion of the Transaction will, among other things, require the approval of: (i) at least two-thirds (66 2/3%) of the votes cast by the shareholders of the Company; and (ii) a simple majority of the votes cast by shareholders of the Company, excluding for this purpose the votes of "related parties" and "interested parties" and other votes required to be excluded under Multilateral Instrument 61‐101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"), with all votes to occur at a special meeting of the Company's securityholders. Additionally, the Transaction is subject to final closing conditions, including debt refinancing. Total considerations on closing remain subject to business performance which could lead to other adjustments, and final exchange rates at the time of closing. Two of the Minority Vendors who are directors of A&L East will receive an aggregate of CAD$4,763,471 in satisfaction of promissory notes issued to them by Deveron in connection with a settlement agreement dated August 14, 2024 (see press release dated August 14, 2024). In addition, as consideration for the sale of the two Minority Vendors', approximate 32% interest in A&L East, they will receive approximately $6.9 M of the total consideration being paid by Rock River.

The Company expects that it will be subject to migration to the NEX Board of the TSXV following completion of the Transaction unless it can demonstrate to the TSXV that it will meet "Continued Listing Requirements" ("CLR") within the meaning of such term under applicable TSXV policies. At this time the Company has not yet acquired or developed any such business and there can be no assurances that it will be able to do so before its listing is migrated from Tier 2 to NEX, or at all.

The trading of the Company's shares has been halted since November 1, 2024, and will remain halted following closing of the Transaction. Further updates will be announced on the status of the Purchase Agreement, and the completion of the Transaction, as appropriate. The Transaction contemplated by the Purchase Agreement is subject to regulatory approval, including the approval of the TSXV. Closing of the Transaction, assuming receipt of all required shareholder approvals, regulatory approval, including TSXV approval as well as the satisfaction of all conditions precedent, is expected to occur on or before April 30, 2026.

Additional Information

The Company will provide further details in respect of the Transaction in due course by way of one or more press releases.

About Rock River: Rock River's majority shareholder is Aqua Capital, a private equity firm specializing in the food and agribusiness sectors with US$1.1bn in assets under management. As at the most recent year-end of December 31, 2024, on an unaudited basis, Rock River had total assets of $6.804m (Q1 2025 - $6.782m), total liabilities of $2.381m (Q1 2025 $2.442m) and total shareholder equity of $4.423m (Q1 2025 - $4.340m). For the twelve-month period ended September 31, 2025, Rock River had, on an unaudited basis, total revenue of $10.901m (Q3 2025 - $2.515m) and a total profit of $1.000m (Q3 2025 - $0.216m).

About Deveron: Deveron is an agriculture technology company that uses data and insights to help farmers and large agriculture enterprises increase yields, reduce costs and improve farm outcomes. The company employs a digital process that leverages data collected on farms across North America to drive unbiased interpretation of production decisions, ultimately recommending how to optimize input use.

This news release may contain forward-looking statements which reflect the Company's current expectations regarding future events. The forward-looking statements are often, but not always, identified using words such as "seek", "anticipate", "plan", "estimate", "expect", "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions. Forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied in the forward-looking statements and information and accordingly, readers should not place undue reliance on such statements and information. The risks and uncertainties include whether the Company will be able to obtain regulatory, TSXV or shareholder approval for the Transactions, and whether the Vendors and the Purchasers will be able to satisfy all of the conditions in the Purchase Agreement and the ancillary documents. The Purchased Assets are subject to risks including changes in the worldwide price of agricultural commodities, general market conditions, risks inherent in agriculture, the uncertainty of future profitability and the uncertainty of access to additional capital.. Many risks are inherent in the industries in which the Company participates; others are more specific to the Company. The Company's ongoing quarterly filings should be consulted for additional information on risks and uncertainties relating to these forward-looking statements. Investors should not place undue reliance on any forward-looking statements. Management assumes no obligation to update or alter any forward-looking statements whether as a result of new information, further events or otherwise, other than as required by law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/273061

Kimberly-Clark Chairman and CEO Mike Hsu joins 'Mad Money' host Jim Cramer to talk the recent acquisition of Kenvue, quarterly results, consumer trends, and more.

LOS ANGELES--(BUSINESS WIRE)--The Schall Law Firm, a national shareholder rights litigation firm, reminds investors of a class action lawsuit against CarMax, Inc. (“CarMax” or “the Company”) (NYSE: KMX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s securities between June 20, 2025 and September 24, 2025, inclusive (the “Class Period”), are encouraged to contact the firm before January 2, 2026.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

According to the Complaint, the Company made false and misleading statements to the market. CarMax overstated its growth prospects when the reality of the growth it enjoyed early in fiscal year 2026 was driven by customer speculation about tariffs on vehicles. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about CarMax, investors suffered damages.

Join the case to recover your losses

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

ROCKVILLE, Md. and SUZHOU, China, Nov. 03, 2025 (GLOBE NEWSWIRE) -- Ascentage Pharma Group International Inc. (NASDAQ: AAPG; HKEX: 6855), a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer, announced that the latest results from multiple clinical studies of its novel drug, olverembatinib (HQP1351), have been selected for presentations at the 67th American Society of Hematology (ASH) Annual Meeting, marking the eighth consecutive year in which clinical data on olverembatinib have been selected by ASH for the Annual Meeting. This year, multiple clinical and preclinical studies on three of the company’s investigational drug candidates (olverembatinib, lisaftoclax and APG-5918) have been selected for presentations at the ASH Annual Meeting.

Developed by Ascentage Pharma, olverembatinib is the first China-approved third-generation BCR-ABL inhibitor, currently being jointly commercialized in China by Ascentage Pharma and Innovent Biologics. At this year’s ASH Annual Meeting, Ascentage Pharma will release the first dataset from the global Phase III study (POLARIS-1) of olverembatinib combined with low-intensity chemotherapy in patients with newly diagnosed (ND) Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL). Moreover, 4-year follow-up data from a randomized controlled, registrational Phase II study of olverembatinib in patients with tyrosine kinase inhibitor (TKI)-resistant chronic-phase chronic myeloid leukemia (CML-CP); and updated data on olverembatinib in the second-line treatment of patients with non-T315I-mutant CML-CP are also set to be reported at the ASH Annual Meeting.

The ASH Annual Meeting is one of the largest gatherings of the international hematology community, aggregating the latest scientific research on the pathogenesis and clinical treatment of hematologic diseases. The 67th ASH Annual Meeting will take place on December 6-9, 2025, local time, both online and in-person in Orlando, Florida.

Dr. Yifan Zhai, Chief Medical Officer of Ascentage Pharma, said, “For eight years in a row, clinical data on olverembatinib have been selected by the ASH Annual Meeting, an achievement reflecting the strong recognition of olverembatinib by the international hematology community. Olverembatinib is currently being evaluated in three global registrational Phase III studies. This year, multiple studies of our three key drug candidates have been selected for presentation at the ASH annual Meeting, underscoring Ascentage Pharma’s robust capabilities in global innovation and clinical development. We look forward to sharing more detailed data during the conference. Moving forward, we will continue to accelerate our clinical development programs in efforts to bring more treatment options to patients as soon as possible.”

An overview of presentations featuring Ascentage Pharma’s drug candidates at ASH 2025:

Format
Drug Candidate
Abstract Title
Abstract#
Oral Presentation
Lisaftoclax
（APG-2575）Results of a registrational phase 2 study of lisaftoclax monotherapy for treatment of patients (pts) with relapsed/refractory chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who had failed Bruton’s tyrosine kinase inhibitors (BTKis)88Poster Presentation
Lisaftoclax
（APG-2575）Results of the APG2575AU101 study of lisaftoclax (APG-2575) combined with azacitidine (AZA) in patients with newly diagnosed (ND) or prior venetoclax–exposed myeloid malignancies1641Olverembatinib
（HQP1351）
Results of POLARIS-1, a global phase 3 study (Part A): olverembatinib combined with low-intensity chemotherapy in patients with newly diagnosed (ND) Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL)1574Olverembatinib (HQP1351) demonstrates efficacy vs. best available therapy (BAT) in patients (pts) with tyrosine kinase inhibitor (TKI)-resistant chronic-phase chronic myeloid leukemia (CML-CP) in a registrational randomized phase 2 trial: up to 4-year follow-up including patients without T315I mutations3788Updated efficacy and safety of olverembatinib (HQP1351) as second-line therapy in patients with chronic phase-chronic myeloid leukemia (CP-CML)3782Preclinical and clinical Study of olverembatinib in patients with myeloid/lymphoid neoplasms with FGFR1 rearrangement1979Olverembatinib-mediated deep remission improves allogeneic stem cell transplantation outcome in patients with blast crisis chronic myeloid leukemia: First real-world practice report1999The efficacy and safety of switching to olverembatinib or continuing original TKI therapy in CML-CP patients treated with at least two prior TKIs: A prospective, multicenter, control trial3779Clinical and molecular features associated with glucolipid metabolic disorders and cardio-/cerebro-vascular adverse events in CML patients receiving olverembatinib therapy5561APG-5918Embryonic ectoderm development (EED) inhibitor APG-5918 overcomes immunomodulatory drug (IMiD) resistance as monotherapy and synergizes with IMiDs/cereblon E3 ligase modulators (CELMoDs) in preclinical models of multiple myeloma (MM)1528Abstract Only
Olverembatinib
（HQP1351）Single CAR-t infusion during front-line consolidation induces deep and sustained remission in newly diagnosed adult ph+b- ALL: A prospective phase 2 study442Lisaftoclax
（APG-2575）BCL-2 inhibition in North American adult T-cell leukemia/lymphoma: Preclinical insights and early clinical outcomes3304
Major study abstracts on olverembatinib selected for presentations at the 2025 ASH Annual Meeting are as follows: (for details on the abstracts featuring lisaftoclax, please refer to a separate press release published at the same time)

Results of POLARIS-1, a global Phase 3 study (Part A): olverembatinib combined with low-intensity chemotherapy in patients with newly diagnosed (ND) Philadelphia chromosome-positive (Ph+) acute lymphoblastic leukemia (ALL)
Format: Poster Presentation
Abstract#: 1574
Session: 613. Acute Lymphoblastic Leukemias: Therapies Excluding Allogeneic Transplantation: Poster I
Time: Saturday, December 6, 2025; 5:30 PM – 7:30 PM EST
First Author: Prof. Suning Chen, Department of Hematology, The First Affiliated Hospital of Soochow University, Suzhou, China
Presenter: Prof. Suning Chen, Department of Hematology, The First Affiliated Hospital of Soochow University, Suzhou, China
Highlights:
This is a global registrational Phase III study (POLARIS-1; NCT06051409) designed to evaluate the efficacy and safety of olverembatinib combined with low-intensity chemotherapy in patients with ND Ph+ ALL. The primary endpoint of the study was minimal residual disease (MRD; BCR-ABL/ABL1 ≤ 0.01% by qPCR) negativity rate by the end of three induction cycles.

Efficacy Results:

As of July 18, 2025, among 53 efficacy‑evaluable patients, 50 (94.3%) achieved a complete remission (CR) or CR with incomplete hematologic recovery by the end of induction therapy. The best MRD negativity and MRD-negative CR rates were 66.0% and 64.2%, respectively.IKZF1plus (particularly with concurrent BTG1 deletion) is a widely recognized high-risk factor in B-ALL as it can often cause resistance to chemotherapies and a high propensity to relapse. Among the 10 patients in this study who had this genotype, the molecular response rate at the end of the induction therapy was 90% (9/10). Safety Results: Olverembatinib in combination with low-dose chemotherapy was well tolerated. Common (incidence >15%) grade ≥3 treatment-emergent adverse events (TEAEs) were neutropenia (63.6%), thrombocytopenia (56.4%), leukopenia (54.5%), anemia (49.1%), pneumonia (30.9%), hypokalemia (20%), and abnormal hepatic function (16.4%).

Conclusion:
In patients with ND Ph+ ALL, olverembatinib in combination with chemotherapy demonstrated an MRD-negative CR rate of 64.2% by the end of the induction therapy and a favorable safety profile.

Olverembatinib (HQP1351) demonstrates efficacy vs. best available therapy (BAT) in patients (pts) with tyrosine kinase inhibitor (TKI)-resistant chronic-phase chronic myeloid leukemia (CML-CP) in a registrational randomized phase 2 trial: up to 4-year follow-up including patients without T315I mutations
Format: Poster Presentation
Abstract#: 3788
Session:  632. Chronic Myeloid Leukemia: Clinical and Epidemiological: Poster II
Time: Sunday, December 7, 2025; 06:00 PM - 08:00 PM EST
First Author: Prof. Qian Jiang, Peking University Institute of Hematology, Peking University People’s Hospital, Beijing, China
Presenter: Prof. Qian Jiang, Peking University Institute of Hematology, Peking University People’s Hospital, Beijing, China
Highlights:

This is an open-label, randomized controlled, multicenter, pivotal registrational phase II study (NCT04126681) designed to evaluate the efficacy and safety of olverembatinib in patients with CML-CP resistant and/or intolerant to first- and second-generation TKIs. This report features an update on the results released in an oral presentation at ASH 2023. As of January 13, 2025, a total of 144 patients with CML-CP were enrolled in the study, including 105 patients without the T315I mutation.In this study, patients were randomized at a 2:1 ratio to the olverembatinib arm or the control arm with investigators’ choices of best available treatment (BAT). The primary endpoint is event-free survival (EFS). Efficacy Results:

The olverembatinib arm achieved a significantly longer EFS than the BAT arm: among all patients with CML-CP, the median EFS of the olverembatinib arm and the BAT arm were 21.22 months and 2.86 months (P < 0.001), respectively. Among patients with CML-CP without the T315I mutation, the median EFS of the olverembatinib arm and the BAT arm were 11.96 months and 3.14 months (P = 0.0159), respectively.Other efficacy parameters of the olverembatinib arm were significantly better than those of the BAT arm: among all patients with CML-CP, complete hematologic response (CHR) rates of the olverembatinib arm and the BAT arm were 85% and 34.8%; the complete cytogenetic response (CCyR) rates were 37.5% and 18.9%; the major molecular response (MMR) rates were 29.5% and 8.1%, respectively. Among patients with CML-CP without the T315I mutation treated in the olverembatinib arm or the BAT arm, the CHR rates were 82.1% and 50.0%, the CCyR rates were 25.8% and 20.7%, the MMR rates were 16.1% and 10.3%, respectively. Safety Results: Both olverembatinib and BAT showed a favorable safety profile in patients with CML-CP with/without the T315I mutation. Major adverse event were hematologic toxicities.

Conclusion: Olverembatinib demonstrated clear therapeutic advantage over the BAT arm in patients with CML-CP resistant and/or intolerant to first- and second-generation TKIs.

Updated efficacy and safety of olverembatinib (HQP1351) as second-line therapy in patients with chronic phase-chronic myeloid leukemia (CP-CML)
Format: Poster Presentation
Abstract#: 3782
Session: 632. Chronic Myeloid Leukemia: Clinical and Epidemiological: Poster II
Time: Sunday, December 7, 2025; 6:00 PM – 8:00 PM EST
First Author: Prof. Weiming Li, Department of Hematology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan, China
Presenter: Prof. Weiming Li, Department of Hematology, Union Hospital, Tongji Medical College, Huazhong University of Science and Technology, Wuhan, China
Highlights:
This is an open-label, single-arm, multicenter clinical study (ChiCTR2200061655) designed to evaluate the efficacy and safety of orally administered olverembatinib at 40 mg every other day (QOD) in patients with CP-CML resistant/intolerant to one prior line of TKIs (including imatinib, flumatinib, nilotinib, and dasatinib) without the T315I mutation. As of July 24, 2025, the study has enrolled a total of 47 patients with CP-CML without the T315I mutation.

Efficacy Results:

As of July 24, 2025, 39 (83.0%) patients received at least one efficacy evaluation; 36 (76.6%) at least two efficacy evaluations; and 34 (72.3%) at least three efficacy evaluations. Two patients had not yet received their first efficacy evaluation.As of the data cut-off date, 71.8% (28/39) of patients achieved a CCyR and 43.6% (17/39) MMR. CCyR and MMR rates assessed at the end of cycles 6, 9, 12, 15, 18, 21, and 24 were 54.3% and 25.7%, 66.7% and 33.3%, 74.2% and 35.5%, 84.6% and 46.2%, 85.7% and 47.6%, 90.0% and 60.0%, and 89.5% and 57.9%, respectively, suggesting that responses deepened as treatment persisted.Among 39 efficacy-evaluable patients, 30 had received second-generation TKIs in first-line treatment. Of them, 76.7% (23/30) achieved a CCyR and 43.3% (13/30) MMR. Among the 9 patients who were pretreated with imatinib, 55.6% (5/9) achieved a CCyR and 44.4% (4/9) MMR. Safety Results: The median (range) treatment duration was 16.0 (1-18) cycles. A total of 42 (89.4%) patients experienced treatment-related adverse events (TRAEs) of any grade, including 21 (44.7%) patients who experienced grade ≥3 TRAEs and 6 (12.8%) patients who experienced serious adverse events (SAEs) related to olverembatinib. Grade ≥3 hematologic toxicities included platelet count decreased (42.6%), neutropenia (25.5%), and anemia (8.5%). Olverembatinib-related SAEs included platelet count decreased (6.4%) and anemia, myelosuppression, and pyrexia (2.1% each). No deaths were reported during the study.

Conclusion: Olverembatinib may provide a safe and effective second-line treatment for patients with CP-CML, especially for those with disease that had failed on first-line treatment with second-generation TKIs.

* Olverembatinib, lisaftoclax and APG-5918 are currently under investigation and have not yet been approved by the FDA in the US.

About Ascentage Pharma

Ascentage Pharma Group International (NASDAQ: AAPG; HKEX: 6855) (“Ascentage Pharma” or the “Company”) is a global, commercial stage, integrated biopharmaceutical company engaged in the discovery, development and commercialization of novel, differentiated therapies to address unmet medical needs in cancer. The Company has built a rich pipeline of innovative drug products and candidates that includes inhibitors targeting key proteins in the apoptotic pathway, such as Bcl-2 and MDM2-p53, as well as next-generation kinase inhibitors.

The lead asset, olverembatinib, is the first novel third-generation BCR-ABL1 inhibitor approved in China for the treatment of patients with CML in chronic phase (CML-CP) with T315I mutations, CML in accelerated phase (CML-AP) with T315I mutations, and CML-CP that is resistant or intolerant to first and second-generation TKIs. All indications are covered by the China National Reimbursement Drug List (NRDL). The Company is currently conducting an FDA-cleared, global registrational Phase III trial, or POLARIS-2, of olverembatinib for CML, as well as global registrational Phase III trials for patients with newly diagnosed Ph+ ALL and SDH-deficient GIST patients.

The Company’s second approved product, Lisaftoclax, is a novel Bcl-2 inhibitor for the treatment of various hematologic malignancies. Lisaftoclax is being commercialized in China following National Medical Products Administration (NMPA) approval for the treatment of adult patients with chronic lymphocytic leukemia/small lymphocytic lymphoma (CLL/SLL) who have previously received at least one systemic therapy including Bruton’s tyrosine kinase (BTK) inhibitors. The Company is currently conducting four global registrational Phase III trials: the FDA-cleared GLORA study of lisaftoclax in combination with BTK inhibitors in patients with CLL/SLL previously treated with BTK inhibitors for more than 12 months with suboptimal response; the GLORA-2 study in patients with newly diagnosed CLL/SLL; the GLORA-3 study in newly diagnosed, elderly and unfit patients with acute myeloid leukemia ( AML); and the GLORA-4 study in patients with newly diagnosed higher-risk myelodysplastic syndrome (HR MDS), a study that was simultaneously cleared by the US FDA, the EMA of the EU, and China CDE.

Leveraging its robust R&D capabilities, Ascentage Pharma has built a portfolio of global intellectual property rights and entered into global partnerships and other relationships with numerous leading biotechnology and pharmaceutical companies, such as Takeda, AstraZeneca, Merck, Pfizer, and Innovent, in addition to research and development relationships with leading research institutions, such as Dana-Farber Cancer Institute, Mayo Clinic, National Cancer Institute and the University of Michigan. For more information, visit https://ascentage.com/

Forward-Looking Statements
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, contained in this press release may be forward-looking statements, including statements that express Ascentage Pharma’s opinions, expectations, beliefs, plans, objectives, assumptions or projections regarding future events or future results of operations or financial condition.

These forward-looking statements are subject to a number of risks and uncertainties as discussed in Ascentage Pharma’s filings with the SEC, including those set forth in the sections titled “Risk factors” and “Special note regarding forward-looking statements and industry data” in its Registration Statement on Form F-1, as amended, filed with the SEC on January 21, 2025, and the Form 20-F filed with the SEC on April 16, 2025, the sections headed “Forward-looking Statements” and “Risk Factors” in the prospectus of the Company for its Hong Kong initial public offering dated October 16, 2019, and other filings with the SEC and/or The Stock Exchange of Hong Kong Limited we made or make from time to time that may cause actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. The forward-looking statements contained in this presentation do not constitute profit forecast by the Company’s management.

As a result of these factors, you should not rely on these forward-looking statements as predictions of future events. The forward-looking statements contained in this press release are based on Ascentage Pharma’s current expectations and beliefs concerning future developments and their potential effects and speak only as of the date of such statements. Ascentage Pharma does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts
Investor Relations:
Hogan Wan, Head of IR and Strategy
Ascentage Pharma
[email protected]
+86 512 85557777

Stephanie Carrington
ICR Healthcare
[email protected]
+1 (646) 277-1282

Media Relations:
Jon Yu
ICR Healthcare
[email protected]
+1 (646) 677-1855

Magnachip Semiconductor Corporation (MX) Q3 2025 Earnings Call November 3, 2025 5:00 PM EST

Company Participants

Mike Bishop
Camillo Martino - Chairman of the Board & CEO
Shin Young Park - CFO & Chief Accounting Officer

Conference Call Participants

Sujeeva De Silva - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Hello, and thank you for standing by. Welcome to Magnachip Semiconductor Corporation Third Quarter 2025 Earnings Conference Call. [Operator Instructions]

I would now like to hand the conference over to Mike Bishop. You may begin.

Mike Bishop

Thank you. Hello, everyone, and thank you for joining us to discuss Magnachip's financial results for the third quarter ending September 30, 2025. The third quarter earnings release was issued today after the close of market and can be found on the company's Investor Relations website. The webcast and replay of today's call will be archived on our website shortly afterwards. Joining me on today's call are Camillo Martino, Magnachip's Chief Executive Officer; and Shin Young Park, our Chief Financial Officer. Camillo will discuss the company's recent operating performance and business overview, and Shin Young will review financial results for the quarter and provide guidance for the fourth quarter. There will be a Q&A session following the prepared remarks. During the course of the conference call, we may make forward-looking statements about Magnachip's business outlook and expectations.

Our forward-looking statements and all other statements that are not historical facts reflect our beliefs and predictions as of today and therefore, are subject to risks and uncertainties as described in the safe harbor statement found in our SEC filings. Such statements are based upon information available to the company as of the date hereof and are subject to change for future developments. Except as otherwise required by law, the company does not undertake any obligation to update

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