Tenet Beats Estimates In Q4, Underwhelming Guidance

 

• Tenet Healthcare Corp's (NYSE: THC) Q4 FY22 adjusted EPS came in at $1.96, down from $2.70 a year ago and beating the consensus of $1.23.

• Net operating revenue reached $4.99 billion, up 2.76% Y/Y, beating the consensus of $4.94 billion.

• Hospital segment sales declined 1.8% to $3.84 billion due to lower COVID-related volume and acuity, partially offset by higher adjusted admissions and improved pricing yield.

• The ambulatory care segment's net operating revenues increased by 25.7%, driven by additional revenues from the SurgCenter Development (SCD) acquisition completed in December 2021, service line growth, and improved pricing yield.

• Same-facility system-wide ambulatory surgical cases increased by 0.7% versus Q4 2021; Same-hospital adjusted admissions increased by 2.9% versus Q4 2021.

• Outlook: Tenet forecasts FY23 revenue of $19.7 - $20.1 billion versus the consensus of $20.11 billion. It expects EPS of $4.68 - $5.85 Vs. $5.64 estimate.

• For Q1 FY23, the company anticipates revenue of $4.7-$4.9 billion vs. $4.97 billion estimate and EPS of $1.00 - $1.23 vs. $1.34 estimate.

https://finance.yahoo.com/news/tenet-healthcares-beats-wall-street-135031211.html

Zomedica Preliminary Results Strong

 Zomedica Corp. (NYSE American:ZOM) ("Zomedica" or the "Company"), a veterinary health company offering point-of-care diagnostics and therapeutic products for companion animals, today reported its preliminary unaudited results for the fourth quarter and year ended 2022.

Preliminary (unaudited) 4th Quarter, Full Year 2022 Results:

• Revenue for the fourth quarter of 2022 is expected to be approximately $6.0-$6.2 million, an increase of 46-51% compared to the same prior year period, primarily driven by an increase in PulseVet® sales and the inclusion of the recently acquired Assisi® products.

• Revenue for the year ended 2022 is expected to be approximately $18.6-$18.9 million, an increase of 354-361% compared to the same prior year period, primarily driven by a full year's worth of PulseVet sales and the inclusion of the recently acquired Assisi products.

• Gross Margin is expected to be approximately 72% for the full year 2022.

• Cash, Cash Equivalents, and Available-for-Sale Securities are expected to be approximately $156 million as of December 31, 2022.

https://finance.yahoo.com/news/zomedica-reports-preliminary-results-fourth-113000728.html

Entrada, Vertex in Pact on Therapeutics for Myotonic Dystrophy

 Global collaboration includes ENTR-701, Entrada’s late-stage preclinical candidate for the treatment of DM1 -

- Company’s cash runway extended into the second half of 2025 -

Entrada Therapeutics, Inc. (Nasdaq: TRDA), a biopharmaceutical company aiming to transform the lives of patients by establishing intracellular Endosomal Escape Vehicle (EEV™)-therapeutics as a new class of medicines, today announced the expiration of the waiting period under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act of 1976 and closing of the Company’s previously announced strategic collaboration and license agreement with Vertex.

https://finance.yahoo.com/news/entrada-therapeutics-closes-agreement-vertex-120000358.html

Regeneron: Eylea OKd for Retinopathy of Prematurity

 ROP is a leading cause of childhood blindness worldwide

EYLEA now approved to treat five retinal conditions caused by ocular angiogenesis

https://finance.yahoo.com/news/eylea-aflibercept-injection-approved-first-234500750.html

GE HealthCare to Acquire Caption Health, Expanding Ultrasound With FDA-Cleared AI

 

• Acquisition supports GE HealthCare’s $3 billion Ultrasound business by adding AI-enabled image guidance to ultrasound device portfolios

• Helps enable affordable, convenient access to point of care ultrasound imaging for a variety of clinical uses

• Acquisition aligns with strategy to deliver precision care and expands access to new ultrasound users and clinical uses

https://finance.yahoo.com/news/ge-healthcare-acquire-caption-health-130000348.html

Galapagos misses on Phase 3 in Crohn's

 

• The two induction cohorts missed the co-primary endpoints of clinical remission and endoscopic response at Week 10

• In the maintenance phase, filgotinib 200mg once daily achieved the co-primary endpoints of clinical remission and endoscopic response at Week 58

• The safety findings were generally consistent with the known profile of filgotinib in rheumatoid arthritis (RA) and ulcerative colitis (UC)

• Galapagos decided not to submit a Marketing Authorization Application in Europe based on these topline data

• Galapagos remains fully committed to filgotinib, a JAK1 preferential inhibitor orally administered once daily, and its approved indications, RA and UC, and is on track to start a Phase 3 trial in axial spondyloarthritis (AxSpA) later this year

https://finance.yahoo.com/news/galapagos-announces-topline-results-phase-210100987.html

NuVasive rallies while Globus Medical moves down after companies announce all-stock merger

 Globus Medical (GMED) said Thursday it will pay 0.75 a share of its stock for each share of NuVasive (NUVA) stock in a deal that values NuVasive at about $3.1 billion or $57.72 a share. Globus Medical stock is down 12% in premarket trades, while NuVasive stock is rallying 11.9%. The companies said the deal will combine "two well-regarded technology companies in the musculoskeletal industry, which have a shared vision focused on innovation." The merger, which is expected to close in the middle of 2023, has been unanimously approved by the boards of directors of both companies. The deal values are based on Globus Medical's closing share price of $76.96 on Wednesday. After the deal closes, Globus Medical shareholders will own about 72% of the combined company and NuVasive shareholders will own about 28%.

https://www.morningstar.com/news/marketwatch/20230209278/nuvasive-rallies-while-globus-medical-moves-down-after-companies-announce-all-stock-merger-deal