Evotec Results for the First Half-year 2023 and Corporate Updates

 

• NEW AND EXTENDED ALLIANCES UNDERLINE PIPELINE VALUE POTENTIAL
• NEW GUIDANCE FOR FULL-YEAR 2023 CONFIRMED

 Evotec SE (Frankfurt Stock Exchange:EVT, MDAX/TecDAX, ISIN: DE0005664809; NASDAQ:EVO) today announced its financial results and corporate updates for the first half-year of 2023.

HIGHLIGHTS

Q2 CYBER-INCIDENT TEMPORARILY REDUNCING STRONG ORGANIC REVENUE GROWTH

• Group revenues increased by 14% to € 383.8 m (H1 2022: € 336.9 m) driven by strong demand for base business and successful partnering activities; like-for-like revenue growth (excluding fx-effects and M&A effects) 14%
• Total EVT Execute revenues (incl. intersegment revenues) up 2% to € 356.6 m (H1 2022: € 351.0 m), strongly affected by cyber-incident; EVT Innovate revenues up 66% to € 129.7 m (H1 2022: € 78.0 m)
• Adjusted Group EBITDA totalled € 26.1 m (H1 2022: € 33.6 m); delivery of Sandoz work packages and Bristol Myers Squibb ("BMS") collaboration yield excellent gross margin, partially compensating for underutilised capacities as a result of the cyber-attack in Q2

NEW AND EXTENDED ALLIANCES REFLECT SUCCESS OF GROWTH STRATEGY "ACTION PLAN 2025"

• New significant collaboration announced with Janssen
• Extensions and expansion of strategic neurodegeneration partnership with BMS, and strong progress in strategic targeted protein degradation partnership with BMS
• Commercial validation of Just - Evotec Biologics' strategy, new agreements with Sandoz and the U.S. Department of Defense (after period-end)
• Milestone payment received with first patient dosed in Phase I study of Bayer kidney disease programme

BUSINESS OUTLOOK FOR FULL-YEAR 2023 AND MID-TERM GOALS 2025 CONFIRMED

• Group revenues expected to be in a range of € 750 - 790 m (€ 765 - 805 m at constant exchange rates) (2022: € 751 m) in FY 2023
• Adjusted Group EBITDA guidance range between € 60 - 80 m (€ 70 - 90 m at constant exchange rates) (2022: € 102 m)
• Unpartnered research and development expenses expected to be in a range of € 60 - 70 m (2022: € 70 m)

	Guidance 2023	Guidance 2023 at constant fx 1)	Actual 31 December 2022 2)
Group revenues	€ 750 - 790 m	€ 765 - 805 m	€ 751 m
Unpartnered R&D expenses	€ 60 - 70 m	-	€ 70 m
Adjusted Group EBITDA	€ 60 - 80 m	€ 70 - 90 m	€ 102 m

¹⁾ Average exchange rate euro vs. US Dollar for 2023: 1.0530
²⁾ Including effects related the M&A (Rigenerand, Central Glass Germany)

• Mid-term goals target revenue growth to > € 1,000 m and adjusted EBITDA of ≥ € 300 m and unpartnered research and development expenses of > € 100 m

Due to the discovery of a criminal cyber-attack on 6 April 2023, productivity was affected throughout the entire second quarter. In response to the criminal cyber-attack, Evotec took immediate action to contain and remediate the attack by taking its systems offline. This was deemed necessary to protect all the Company's partners and stakeholders and Evotec could ensure that integrity of scientific data remained unaffected. The Company re-started operations over the course of April with productivity reaching approx. 50% in May and more than 80% in June.

https://www.biospace.com/article/releases/evotec-se-reports-results-for-the-first-half-year-2023-and-provides-corporate-updates/

Bristol Myelodysplastic Syndromes Therapy OKd

 

• Reblozyl is the first and only therapy to demonstrate superiority compared to an erythropoiesis stimulating agent (ESA) in MDS-related anemia based on interim results from pivotal Phase 3 COMMANDS trial, expanding approved population to ESA-naïve patients, regardless of ring sideroblast status
• In head-to-head study, results showed Reblozyl nearly doubled the percent of patients achieving primary endpoint of concurrent transfusion independence and hemoglobin (Hb) increase vs. epoetin alfa, with a well-established safety profile

https://www.biospace.com/article/releases/u-s-fda-approves-bristol-myers-squibb-s-reblozyl-luspatercept-aamt-as-first-line-treatment-of-anemia-in-adults-with-lower-risk-myelodysplastic-syndromes-mds-who-may-require-transfusions/

Abbott: We will take Biden to Supreme Court to protect border

 Texans never back down from a fight — including protecting our border.

This challenge involves not only ruthless Mexican drug cartels wresting operational control of the border or the record surge in illegal immigration.

Most profoundly, this challenge is driven by a Biden administration intent on impeding our efforts to secure the border and keep Texans safe.

President Biden’s Department of Justice sued the state of Texas last month for our recent efforts to deter and repel migrants from making the dangerous — and often deadly — illegal crossing through the Rio Grande waterway into Texas by deploying floating marine barriers.

Biden is clearly more concerned with preventing Texas from protecting our sovereignty than stopping transnational criminals from exploiting his border crisis for profit or discouraging migrants from risking their lives to enter America illegally.

He should be sending us a thank-you note, not a lawsuit.

We are prepared to take this legal battle to the United States Supreme Court to make clear that Texas — as well as other states — has full authority to secure the border.

President Biden’s Department of Justice sued the state of Texas last month for recent efforts to deter and repel migrants from making the dangerous illegal crossing through the Rio Grande waterway

ZUMAPRESS.com/Bob Daemmrich

In accordance with the US Constitution, as commander in chief of Texas’ militia I have asserted our state’s sovereign interest to protect our borders.

Because Biden refuses to enforce the immigration laws Congress already has on the books, Texas will use every strategy to deny illegal entry.

Long before Texas deployed these border barriers, the United Nations declared the US-Mexico border the deadliest land crossing in the world.

Biden’s shameless disregard for America’s national security has emboldened Mexican drug cartels and transnational criminals like never before, brazenly endangering both American citizens and migrants.

US President Joe Biden speaks with US Customs and Border Protection officers as he visits the US-Mexico border in El Paso, Texas, on Jan. 8, 2023.

AFP via Getty Images/ Jim Watson

Who could forget the tragedy last summer, when 53 migrants died inside a sweltering tractor-trailer during a human smuggling attempt near San Antonio?

More than 850 migrants tragically died on US soil last year in attempted illegal border crossings. All these deaths are on President Biden’s hands.

As countless migrants are killed, exploited or trafficked, more than 1.5 million known gotaways have slipped into the country illegally under Biden’s watch, including a record number of suspected terrorists entering.

Since I launched Operation Lone Star in March 2021 to fill in the dangerous gaps Biden’s reckless policies created, our historic border-security mission has apprehended more than 401,000 illegal immigrants, arrested more than 32,000 criminals and seized more than 422 million lethal doses of fentanyl — more than enough to kill every man, woman and child in America.

Abbott believes Biden refuses to enforce the immigration laws Congress already has on the books, Texas will use every strategy to deny illegal entry.

AFP via Getty Images/ Suzanne Cordeiro

Transnational criminal organizations continue to seek out new insidious methods to operate multibillion-dollar smuggling enterprises across our southern border, but Texas is fighting back.

I recently deployed the floating marine barriers in a stretch of the Rio Grande as part of Texas’ heightened deterrence effort to support the increase in Texas National Guard soldiers and Department of Public Safety troopers patrolling our border. We’ve also added miles of razor wire.

These buoys help deter illegal river crossings, forcing migrants to use one of Texas’ 29 international bridges where they can seek asylum. None of them has drowned on a bridge.

Instead of safeguarding the sovereignty of our nation, Biden has abandoned his duty to secure the border. So Texas remains the foremost governmental entity in America denying illegal entry into our country.

We are the only one standing up to the ruthless Mexican drug cartels waging war for control of our border.

Migrants walk through the Rio Grande River.

ADAM DAVIS/EPA-EFE/Shutterstock

And with $9.8 billion of Texas taxpayer dollars allocated for border security, the state is the only actor sending the message our southern border is not open.

The Biden administration has left border states like Texas to fend for themselves amid the escalating crisis and is now misapplying some obscure statute to keep Texas from using the marine barriers to deter more illegal border crossings into our state.

But let me be clear: We will continue to deploy every lawful tool and strategy to protect Texans.

President Biden, Border Czar Kamala Harris and Homeland Security Secretary Alejandro Mayorkas have demonstrated how uninformed and unconcerned they are about the chaos their administration has unleashed along America’s southern border.

Nearly $9.8 billion of Texas taxpayer dollars are allocated for border security.

AFP via Getty Images/ Suzanne Cordeiro

Critics of Texas’ border security mission have one thing right: The president has a constitutional responsibility to enforce existing federal immigration laws and protect the sovereignty of our homeland and the safety of our citizens.

Until then, Texas will not bow to relentless Mexican cartels or the strongarm tactics of a negligent administration.

Mr. President, Texas will see you in court.

Greg Abbott is governor of Texas.

https://nypost.com/2023/08/28/texas-gov-abbott-we-will-take-biden-to-supreme-court-to-protect-border/

National Archives admits it has 5,400 Biden pseudonym emails from his vice presidency

 The National Archives and Records Administration has admitted that it is in possession of nearly 5,400 emails, electronic records and documents that potentially show President Biden using a pseudonym during his vice presidency, it was revealed on Monday. 

NARA confirmed the existence of the trove in response to a June 2022 Freedom of Information Act request by the Southeastern Legal Foundation, a nonprofit constitutional legal group.

The request asked for emails pertaining to the accounts of Robin Ware, Robert L. Peters, and JRB Ware – pseudonyms the 80-year-old president was known to use in the White House during his time as President Obama’s vice president. 

The Southeastern Legal Foundation on Monday filed suit against NARA for the release of the records, which the group claims may show that Biden forwarded government information and discussed government business with his son, Hunter Biden, and others. 

The National Archives says it has found more than 5,000 records that may potentially show Joe Biden using a pseudonym.

Shutterstock

Joe Biden may have forwarded government information and discussed government business with his son, Hunter Biden, and others, through the use of secret email accounts.

WireImage

“All too often, public officials abuse their power by using it for their personal or political benefit. When they do, many seek to hide it. The only way to preserve governmental integrity is for NARA to release Biden’s nearly 5,400 emails to SLF and thus the public. The American public deserves to know what is in them,” Kimberly Hermann, SLF general counsel, said in a statement. 

The group accuses NARA of having “dragged its feet ” since the June 2022 FOIA request and says that not a single email has been produced since the government agency acknowledged their existence just days after the request. 

“We have performed a search of our collection for Vice Presidential records related to your [June 9, 2022] request and have identified approximately 5,138 email messages, 25 electronic files and 200 pages of potentially responsive records that must be processed in order to respond to your request,” Stephannie Oriabure, the director of NARA’s archival operations division, wrote to the Southeastern Legal Foundation on June 24, 2022, Monday’s lawsuit revealed. 

The House Oversight Committee is also demanding that the National Archives release its Biden pseudonym records.

AP

Earlier this month, House Oversight Committee Chairman James Comer demanded that NARA hand over any unredacted records in which Joe Biden used a pseudonym during his vice presidency as part of his probe into the role the former vice president played in Hunter Biden’s foreign business dealings. 

Emails previously released by the Archives and retrieved from Hunter’s abandoned laptop reveal that Joe Biden used the email address “Robert.L.Peters@pci.gov” while he was Obama’s second-in-command and that his aide John Flynn cc’d Hunter on 10 emails containing the elder Biden’s daily schedule between May 18 and June 15, 2016.

“Joe Biden has stated there was ‘an absolute wall’ between his family’s foreign business schemes and his duties as Vice President, but evidence reveals that access was wide open for his family’s influence peddling,” Comer said in a statement on Aug. 17. 

“The National Archives must provide these unredacted records to further our investigation into the Biden family’s corruption,“ he added. 

https://nypost.com/2023/08/28/national-archives-admits-it-has-5400-biden-pseudonym-emails/