Search This Blog

Tuesday, May 12, 2026

Coherus Q1 revenue $12.3M (+62% YoY), non-GAAP EPS $(0.27), LOQTORZI up 61%, reiterates LT targets

 

Coherus Oncology posts Q1 revenue $12.3M (+62% YoY) and non-GAAP EPS $(0.27) as LOQTORZI climbs 61%, reiterates long-term targets

  • Non-GAAP EPS $(0.27) missed analyst estimates but improved 34% year over year versus Q1 2025.
  • LOQTORZI demand strong YoY; modest QoQ revenue dip attributed to oncology seasonality and storms.
  • Q1 LOQTORZI net sales $11.8m, +61% YoY; total revenue and EPS not disclosed.
  • New LOQTORZI patient starts record high; ordering account breadth and depth up 21%; durations rising.
  • Management reiterates LOQTORZI targets: $15m quarterly 2026, $30–35m 2027, ~$44m 2028 peak.
  • Key risk: upcoming tagmokitug and casdozokitug data must outperform emerging EGFR, ADC, CCR8 competitors.
  • R&D and SG&A from continuing operations declined YoY to $21.5m and $23.1m, respectively.
  • GAAP net loss totaled $36.9 million for Q1 2026, as reported in the quarterly results.
  • Balance sheet bolstered by $54m equity raise; quarter-end cash and investments totaled $167m.
  • Coherus Oncology raised net proceeds of $53.6 million from a first-quarter equity offering.
  • Casdozokitug HCC study fully enrolled; initial efficacy and biomarker data expected around midyear 2026.
  • Tagmokitug programs progressing with multiple midyear and second-half 2026 readouts across several tumor types.
  • Q&A centered on LOQTORZI duration and mix, seasonality impact, CCR8 validation, financing flexibility.
  • Main concern: ability of tagmokitug and casdozokitug data to validate large oncology strategy.
  • Mixed quarter, driven by strong LOQTORZI demand but seasonal revenue dip and looming data.

UnitedHealth's Optum Rx in transparent fee-based pharmacy benefit model eliminating spread pricing

 


  • Optum Rx plans to transition group purchasing to flat service fee arrangements by 2027.

Nvidia’s CEO to miss China trip after year of travels with Trump

 The roster of business leaders invited to join President Donald Trump on his trip to China this week left off one notable, and surprising, name: Nvidia Corp. Chief Executive Officer Jensen Huang.

While more than a dozen other top executives including Apple Inc. CEO Tim Cook and Tesla Inc.’s Elon Musk made the cut for the business delegation, according to a White House official, Huang was not among those invited. A person familiar with the matter confirmed that Huang — whose company makes the world’s most sought-after AI chips — would not be accompanying the president on the China trip.

The executives joining Trump are all from companies with significant existing China exposure and represent sectors expected to be part of the trip’s commercial agenda, according to another person familiar with the matter. All of the people, including the White House official, spoke on condition of anonymity to discuss confidential travel plans.

Huang’s absence stands out given his role as head of the world’s most valuable company and maker of semiconductors powering the artificial intelligence boom — not to mention his proximity to Trump since the president’s return to office. It represents a potential setback for Huang in his bid to sell Nvidia’s AI chips to China, a market he’s identified as a $50 billion opportunity.

Representatives for Nvidia declined to comment, while a White House spokesperson didn’t respond to requests for comment.

Just last Thursday, Huang had expressed his willingness to join Trump on the highly anticipated trip to China, where the president is scheduled to meet his Chinese counterpart, Xi Jinping. “If invited, it would be a privilege — it would be a great honor to represent the United States and to go to China with President Trump,” Huang told CNBC.

Last year, Huang emerged as a fixture in Washington with frequent visits to the White House and Capitol Hill to make his case for clearing a path for AI development, including by relaxing US export controls. He formed a bond with the president after being introduced to Trump in early 2025, and Huang said in an interview with Time that the two men spoke regularly by phone, often late at night.

Huang’s presence in Trump’s orbit extended to official White House visits last year to the Middle East and the UK, where the president called out Huang in the audience and praised the CEO’s work with Nvidia. “You’re taking over the world, Jensen,” Trump joked in September during an event in London.

The Nvidia chief has continued to communicate directly with Trump this year through multiple channels, according to a person familiar with the matter. Huang saw Trump in Washington as recently as last month, while attending events during King Charles III’s stay in Washington. A senior White House official personally texted Huang to invite him to a state dinner tied to the royal visit, the person added.

Nvidia scored a major lobbying win in December when Trump agreed to allow shipments of the company’s H200 AI chips to China, a decision that marked a significant easing of US restrictions aimed at keeping Beijing and its military from accessing the most powerful US technologies. Nvidia that month also succeeded in killing a chip-export provision in must-pass defense legislation.

Huang said in March that Nvidia was firing up its H200 production, a move the company is unlikely to take without confidence that sales of those chips could be completed. At the time, Huang emphasized that Nvidia had been licensed by the US Commerce Department to sell H200s to “many customers” in China, without offering specifics. The US is set to receive a 25% fee from Nvidia for any H200s sold to China.

Muddying the waters, however, Commerce Secretary Howard Lutnick told lawmakers last month that while some H200s have been licensed for sale to China, none had been exported yet since the Chinese government hasn’t allowed its tech companies to purchase the chips. Huang has supported keeping US restrictions in place for the company’s more advanced AI chips, such as its Blackwell processors and the upcoming Vera Rubin line set to be rolled out later this year.

US export controls have long been a sticking point in trade discussions between Washington and Beijing. Limits on China’s ability to acquire American technology fueled a standoff last year between the world’s largest economies that saw Beijing impose curbs on shipments of rare earths to US customers.

The two sides unveiled a truce in October after Trump’s last meeting with Xi where the US agreed to pause for a year some of its tech-related restrictions in exchange for renewed access to rare earth elements. Those measures will likely be up for discussion later this week.

In the meantime, members of Congress have mounted a renewed push to restrict the flow of AI technology to China. Last month, House lawmakers advanced a slate of bipartisan export control bills including the AI Overwatch Act, which would block the administration from allowing Nvidia to sell its Blackwell chips to Chinese customers. The measure would also give Congress the power to oversee license applications for shipments of the company’s H200 processors to China.

Keeping Huang off the official delegation list sends a strong signal to the government in Beijing that Chinese AI labs won’t have much success in obtaining top-performing chips like those made by Nvidia, according to Ryan Fedasiuk, a fellow at the American Enterprise Institute.

“The Trump administration understands how important computing power is to winning the AI race with China,” Fedasiuk said. “There just isn’t much for American chip companies to talk about with the Chinese government.”

https://www.msn.com/en-us/money/other/nvidia-s-ceo-to-miss-china-trip-after-year-of-travels-with-trump/ar-AA22Xg5q

Sionna completes Phase 2a SION-719 cystic fibrosis trial enrollment

 

Sionna posts Q1 2026 non-GAAP EPS -0.60 and completes Phase 2a SION-719 cystic fibrosis trial enrollment

  • Fiscal Q1 2026 non-GAAP EPS was -0.60, up 3% YoY, missing analyst EPS estimates.
  • Q1 2026 revenue was $0, beating analyst revenue estimates for the quarter.
  • An SEC filing detailed a Q1 2026 net loss of $26.8 million for Sionna.
  • Quarter-end cash, cash equivalents and marketable securities totaled $289.9 million, projected to fund operations into 2028.
  • Phase 1 data for SION-451 are expected to read out this summer.
  • Phase 2a data for SION-719 in cystic fibrosis are anticipated this summer.

Novanta beats, issues guidance

 Novanta beats Q1 2026 estimates with non-GAAP EPS $0.81 (+9% YoY), revenue $257.7M (+10% YoY), issues Q2 and 2026 guidance

https://finviz.com/quote?t=NOVT&p=d

Harrow miss estimates, company guides Q2 revenue to $71–$81M

 

Harrow Inc Q1 2026 non-GAAP EPS -$0.74, revenue $44.2M miss estimates, company guides Q2 revenue to $71–$81M

  • Non-GAAP EPS declined 48% YoY to -$0.74, while revenue fell 8% YoY to $44.2M.
  • Q1 2026 GAAP net loss totaled $27.6M, or $0.74 per share.
  • Q1 2026 adjusted loss totaled $0.63 per share, compared with reported loss of $0.74 per share.
  • Reported Q1 2026 revenue includes non-recurring $8 million VEVYE gross-to-net adjustment within the $44.2 million total.
  • Management reaffirms previously issued full-year 2026 revenue outlook range of $350–$365M.

Trump: No deal with Putin on Russia getting Donbass

 United States President Donald Trump denied on Tuesday that he and his Russian counterpart Vladimir Putin agreed that part of a peace deal between Moscow and Kyiv would stipulate that the Eurasian country would keep the entire Donbass.

Speaking to the press as he was leaving the White House for China, Trump rejected the report when asked by a journalist about it, while expressing hope that the conflict in Eastern Europe would still come to a conclusion.

The week before, Trump said that he advised Russia and Ukraine to extend their three-day Victory Day ceasefire. Putin claimed that Moscow agreed to it; however, the truce ended in the meantime. Meanwhile, Ukrainian President Volodymyr Zelensky remarked that Russia "chose to end the partial silence" after launching a new wave of drone strikes against his country.

https://breakingthenews.net/Article/Trump:-No-deal-with-Putin-on-Russia-getting-Donbass/66278059