Smartkarma Daily Briefs

Oryzon Genomics has reported positive interim data from the Phase Ib FRIDA study, evaluating iadademstat in combination with gilteritinib in advanced acute myeloid leukaemia (AML) patients. Results from the first two cohorts (13 patients) showed a favourable safety profile and efficacy signals, with 69% of patients reporting bone marrow (BM) blast cell clearance in the first cycle. Moreover, 38% of patients achieved complete remission with full or partial hematologic or blood count recovery. While we caution against direct read across between clinical trials, this compares favourably to the 26.3% rate (excluding remissions after bone marrow transplantation during the trial) delivered by gilteritinib in the Phase III ADMIRAL study, potentially supporting the synergy of the combination. Oryzon noted that the first two cohorts achieved full target engagement and indicated the scope for dose reduction (to aid faster platelet recovery) under the FDA’s OPTIMUS guidance. A third cohort is being recruited following this guidance.

• UnitedHealth Group has reported its first quarter financial results for 2024, which reflect the resilience and adaptive capacity of the organization amidst significant challenges, most notably the Change Healthcare cyberattack.
• In addressing the cyberattack, UnitedHealth Group has showcased robust crisis management capabilities, responding swiftly to ensure continuity in care provision and financial support for affected healthcare providers.
• The financial impact of the cyberattack has been substantial, with approximately $870 million in total impact to the quarter and an anticipated full-year impact in the range of $1.15 to $1.35 per share.

• The Cigna Group has presented its first-quarter results for 2024, demonstrating financial strength and strategic advancements across its diverse business segments.
• The financial outcomes reveal a sound start to the year, with increased revenue and adjusted earnings per share, alongside an uplift in the full year 2024 earnings guidance.
• However, these positive aspects are accompanied by areas of setbacks and challenges suggesting that while Cigna is on a promising trajectory, there are complexities that might affect its future performance.

• Elevance Health recently reported its first-quarter results for the 2024 fiscal year, showcasing a blend of strategic accomplishments and agile responses to ongoing industry shifts.
• The company announced earnings per share (EPS) on a GAAP basis of $9.59 and an adjusted diluted EPS of $10.64, indicating a robust growth of 12.5%.
• This performance was underpinned by disciplined execution across Elevance Health’s strategic initiatives in a dynamically evolving healthcare landscape.

• Revenue increased by 2.6% YoY to JPY2.2bn, while operating profit decreased by 57.3% YoY to JPY281mn.
• SG&A expenses rose by 29.4% YoY to JPY1.1bn, leading to an operating profit margin decline to 12.6%.
• Medical device sales grew by 35.6% YoY to JPY486mn, and cosmetics sales surged by 157.9% YoY to JPY286mn.

• Molina Healthcare has reported their first quarter earnings, achieving an adjusted EPS of $5.73 and generating $9.5 billion in premium revenue.
• The company’s performance was described as being in line with expectations and is backed by efficient operating metrics across all business segments.
• The consolidated MCR (medical cost ratio) stood at 88.5%, demonstrating strong medical cost management with results across segments fulfilling the company’s forecasts.

• On June 6, 2024, Soligenix, Inc. (SNGX) enacted a reverse stock split at a ratio of 1 post-split share for every 16 pre-split shares.
• Our valuation has been adjusted accordingly.
• The company recently completed a public offering for gross proceeds of approximately $4.75 million.

• Humana has presented a mixed set of results for the first quarter of 2024, coupled with adjusted expectations for the upcoming year.
• The company has reaffirmed its full-year adjusted EPS guidance at approximately $16 and increased its membership growth outlook from 100,000 to 150,000 net additions, which speaks to Humana’s operational resilience and strategic expansions.
• This performance is supported by inline or positive medical cost trends, and visible growth in their primary care business with a significant upswing in new and mature centers.

• Centene Corporation has provided an encouraging financial performance in its first quarter of the year, as echoed in their latest review of modified earnings and strategic developments across various business units.
• Notably, the company exceeded their expected adjusted earnings per share (EPS) at $2.26, prompting an upward revision in their full-year 2024 forecast to over $6.80 per share.
• While these results show solid progress and operational efficiency, they frame a nuanced picture—detailing areas of strength alongside ongoing challenges.