Quest Diagnostics Reports First Quarter 2026 Financial Results; Raises Revenue and EPS Guidance for Full Year 2026

On April 21, 2026 Quest Diagnostics Incorporated (NYSE: DGX), a leading provider of diagnostic information services, reported financial results for the first quarter ended March 31, 2026.

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"Our more than 9% revenue growth, almost entirely organic, and approximately 13% adjusted diluted earnings per share growth reflect our team’s disciplined execution of our strategy to deliver innovative diagnostic solutions for our customers’ evolving needs," said Jim Davis, Chairman, CEO and President. "We are raising our revenue and EPS guidance for the year, given our robust first quarter performance and continued strategic focus."

Recent Highlights:

Serving Clinicians and Health Systems

Continued to advance our Co-Lab Solutions implementation and joint venture laboratory with Corewell Health, a leading health system in Michigan.
Scaled our lab and water purity testing solutions for several dialysis clinics and hospitals, extending our reach beyond dialysis clinics owned by Fresenius Medical Care in the United States.
Serving Consumers

Grew revenues robustly across the consumer channel through our questhealth.com platform and collaborations with top consumer health companies.
Delivering Diagnostic Innovations

Generated double-digit revenue growth in several areas of Advanced Diagnostics, including for our Quest AD-Detect blood tests for Alzheimer’s disease and in several clinical areas of advanced cardiometabolic and endocrine disease.
Formed a research collaboration with City of Hope to study the use of Haystack MRD as an aid in cancer monitoring and treatment decisions for four solid tumor cancers at 14 U.S. sites.
Driving Operational Excellence

Launched our AI Companion tool to help patients better understand their lab test reports. Patients have engaged Quest AI Companion approximately 350,000 times since we rolled it out to users of our myQuest patient app earlier this quarter.
Advanced our planning and design work for Project Nova, our multi-year initiative to transform our order-to-cash processes and systems, with plans to implement our first wave of solutions in the fall of 2027.

Three Months Ended March 31,

2026

2025

Change

(dollars in millions, except per share data)

Reported:

Net revenues

$ 2,895

$ 2,652

9.2 %

Diagnostic Information Services revenues

$ 2,832

$ 2,589

9.4 %

Revenue per requisition

(1.3) %

Requisition volume

10.9 %

Organic requisition volume

10.8 %

Operating income (a)

$ 399

$ 346

15.5 %

Operating income as a percentage of net revenues (a)

13.8 %

13.0 %

0.8 %

Net income attributable to Quest Diagnostics (a)

$ 252

$ 220

14.4 %

Diluted EPS (a)

$ 2.24

$ 1.94

15.5 %

Cash provided by operations

$ 278

$ 314

(11.6) %

Capital expenditures

$ 114

$ 117

(1.8) %

Adjusted (a):

Operating income

$ 447

$ 406

10.0 %

Operating income as a percentage of net revenues

15.4 %

15.3 %

0.1 %

Net income attributable to Quest Diagnostics

$ 281

$ 251

12.1 %

Diluted EPS

$ 2.50

$ 2.21

13.1 %

(a)

For further details impacting the year-over-year comparisons related to operating income, operating income as

a percentage of net revenues, net income attributable to Quest Diagnostics, and diluted EPS, see note 2 of the

financial tables attached below.

Updated Guidance for Full Year 2026

The company updates its full year 2026 guidance as follows:

Updated Guidance

Prior Guidance

Low

High

Low

High

Net revenues

$11.78 billion

$11.90 billion

$11.70 billion

$11.82 billion

Net revenues increase

6.8 %

7.8 %

6.0 %

7.1 %

Reported diluted EPS

$9.58

$9.78

$9.45

$9.65

Adjusted diluted EPS

$10.63

$10.83

$10.50

$10.70

Cash provided by operations

Approximately $1.75 billion

Approximately $1.75 billion

Capital expenditures

Approximately $550 million

Approximately $550 million

Note on Non-GAAP Financial Measures

As used in this press release the term "reported" refers to measures under accounting principles generally accepted in the United States ("GAAP"). The term "adjusted" refers to non-GAAP operating performance measures that exclude special items such as restructuring and integration charges, amortization expense, excess tax benefits ("ETB") associated with stock-based compensation, gains and losses associated with changes in the carrying value of our strategic investments and other items.

Non-GAAP adjusted measures are presented because management believes those measures are useful adjuncts to GAAP results. Non-GAAP adjusted measures should not be considered as an alternative to the corresponding measures determined under GAAP. Management may use these non-GAAP measures to evaluate our performance period over period and relative to competitors, to analyze the underlying trends in our business, to establish operational budgets and forecasts and for incentive compensation purposes. We believe that these non-GAAP measures are useful to investors and analysts to evaluate our performance period over period and relative to competitors, as well as to analyze the underlying trends in our business and to assess our performance. The additional tables attached below include reconciliations of non-GAAP adjusted measures to GAAP measures.

Conference Call Information

Quest Diagnostics will hold its quarterly conference call to discuss financial results beginning at 8:30 a.m. Eastern Time today. The conference call can be accessed by dialing 888-455-0391 within the U.S. and Canada, or 773-756-0467 internationally, passcode: 7895081; or via live webcast on our website at www.QuestDiagnostics.com/investor. We suggest participants dial in approximately 10 minutes before the call.

A replay of the call may be accessed online at www.QuestDiagnostics.com/investor or, from approximately 10:30 a.m. Eastern Time on April 21, 2026 until midnight Eastern Time on May 5, 2026, by phone at 866-388-5361 for domestic callers or 203-369-0416 for international callers. Anyone listening to the call is encouraged to read our periodic reports, on file with the Securities and Exchange Commission, including the discussion of risk factors and historical results of operations and financial condition in those reports.

(Press release, Quest Diagnostics, APR 21, 2026, View Source [SID1234664618])

Olema Oncology to Present Initial Clinical Data for OP-3136 at the 2026 ASCO Annual Meeting

On April 21, 2026 Olema Pharmaceuticals, Inc. ("Olema" or "Olema Oncology", Nasdaq: OLMA), a clinical-stage biopharmaceutical company focused on the discovery, development, and commercialization of targeted therapies for breast cancer and beyond, reported it will present initial clinical data from the Phase 1 study of OP-3136 in a poster presentation at the American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting taking place May 29-June 2 in Chicago, Illinois. The Company will also present a trial-in-progress poster for the Phase 3 OPERA-02 trial.

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Poster Presentation Details
Title: A phase 1, first-in-human study of OP-3136, a novel oral selective KAT6A/B inhibitor, as monotherapy in advanced solid tumors and in combination with endocrine therapy in ER+, HER2− advanced breast cancer (ABC): Preliminary results
Abstract Number: 3088
Poster Number: 225
Date/Time: May 30, 2026 from 1:30pm-4:30pm CT / 2:30pm-5:30pm ET

Title: OPERA-02: A phase 3 study of palazestrant plus ribociclib as first-line treatment of ER+, HER2- advanced breast cancer
Abstract Number: TPS1152
Poster Number: 261b
Date/Time: June 1, 2026 from 1:30pm-4:30pm CT / 2:30pm-5:30pm ET

Additional information can be found on the ASCO (Free ASCO Whitepaper) Annual Meeting website.

(Press release, Olema Oncology, APR 21, 2026, View Source [SID1234664617])

Moleculin Announces Abstract Accepted for Poster Presentation at the 2026 ASCO Annual Meeting

On April 21, 2026 Moleculin Biotech, Inc., (Nasdaq: MBRX) ("Moleculin" or the "Company"), reported that an abstract highlighting data on its lead drug candidate, annamycin, has been accepted for poster presentation at the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting, taking place May 29 – June 2, 2026, in Chicago, Illinois.

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The abstract, titled "Cardiac safety of L-annamycin at high cumulative anthracycline exposure: Pooled analysis," will be presented in a poster session focused on Symptom Science and Palliative Care.

Presentation Details:

Session Type: Poster Session – Symptom Science and Palliative Care
Presentation Date and Time: May 30, 2026, 1:30 PM – 4:30 PM CDT
Location: Poster Board #8
The abstract presents a pooled analysis evaluating the cardiac safety profile of annamycin in patients with high cumulative exposure to anthracyclines, an important consideration given the known risk of cardiotoxicity associated with this class of chemotherapeutic agents.

"We are pleased to have this abstract accepted for presentation at ASCO (Free ASCO Whitepaper), one of the most prestigious oncology conferences globally," said Walter Klemp, Chairman and CEO of Moleculin. "These data further support the potential of annamycin as a differentiated anthracycline with a favorable cardiac safety profile, even at higher cumulative exposure levels. We look forward to sharing these findings with the oncology community."

The ASCO (Free ASCO Whitepaper) Annual Meeting is one of the largest and most influential gatherings of oncology professionals worldwide, featuring cutting-edge research and advances in cancer treatment. For more information, please visit asco.org.

(Press release, Moleculin, APR 21, 2026, View Source [SID1234664616])

Medicenna Presents Positive Data Demonstrating Superior Safety and Efficacy Potential of its First-in-Class anti-PD-1 x IL-2 Bifunctional Superkine MDNA113 at AACR 2026

On April 21, 2026 Medicenna Therapeutics Corp. ("Medicenna" or the "Company") (TSX: MDNA, OTCQX: MDNAF), a clinical-stage immunotherapy company focused on the development of proprietary Superkines targeting cancer and autoimmune diseases, reported new positive preclinical data from MDNA113, its first-in-class tumor-anchored and conditionally activated anti-PD-1 x IL-2 bifunctional Superkine, at the American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting 2026 in San Diego, California.

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The data demonstrate that MDNA113’s architecture delivers on the promise of a truly differentiated and highly tolerable PD-1 x IL-2 bifunctional. In a head-to-head non-human primate study, MDNA113 was well tolerated at doses up to 50 mg/kg while a representative anti-PD-1 x IL-2α-biased bispecific could not be administered a second dose at a fraction of that exposure due to severe toxicity, including evidence of vascular leak syndrome.

"Taken together, these data demonstrate that MDNA113 is a first-in-class PD-1 x IL-2 bifunctional with exquisite design that delivers superior tolerability and a significantly wider therapeutic window compared with first-generation approaches," said Fahar Merchant, Ph.D., President and CEO of Medicenna. "This is exactly the kind of data we had hoped for on our design thesis: by combining tumor anchoring, dual conditional activation, and a β-enhanced not-α IL-2 Superkine, we can dose at levels comparable to approved anti-PD-1 therapies without the systemic toxicity that has forced competitors to compromise on potency by lowering the dose and attenuating activity of IL-2. With MDNA113, we have fused a blockbuster anti-PD-1 with our IL-2 Superkine, which has already demonstrated promising single-agent activity in immunotherapy-resistant patients, significantly de-risking clinical development. We look forward to advancing MDNA113 toward an IND submission later this year."

PD-1 bispecifics have emerged as a leading next-generation approach to enhancing the efficacy of PD-1 inhibitors, the best-selling class of oncology drugs in the world. The commercial potential of PD-1 x IL-2 bispecifics specifically has been validated by recent multi-billion-dollar transactions.

MDNA113 is built on the Company’s IL-2 and IL-13 Superkine platforms. The β-enhanced not-α IL-2 Superkine at the core of MDNA113 is shared with MDNA11, the Company’s clinical-stage IL-2 Superkine, which has demonstrated durable single-agent anti-tumor activity and a manageable safety profile in the ongoing Phase 1/2 ABILITY-1 study in patients with advanced solid tumors. Unlike competing PD-1 x IL-2 programs that utilize proprietary anti-PD-1 antibodies, MDNA113 incorporates variants of commercially validated, approved human anti-PD-1 antibodies.

MDNA113 is designed to address the safety and dosing limitations that have constrained first-generation molecules in this class by combining a commercially validated anti-PD-1 antibody with Medicenna’s clinically validated IL-2 Superkine, the only next-generation IL-2 with demonstrated durable single-agent anti-tumor activity, in a tumor-targeted, conditionally activated architecture.

Key highlights from the presentation:

MDNA113’s masking architecture achieved >10,000-fold attenuation of IL-2R agonism relative to the non-masked parent molecule while preserving full PD-1/PD-L1 blockade, and the masking domain demonstrated stability in serum for at least 8 days, confirming that IL-2 Superkine is effectively shielded from systemic exposure until activated within the tumor microenvironment
MDNA113 demonstrated two independent mechanisms of conditional activation: tumor-associated matrix metalloprotease (MMP) cleavage fully restored IL-2R signaling at the tumor site, and proximity-dependent unmasking upon engagement with PD-1-expressing T cells provided a second activation pathway independent of protease expression, a key differentiator versus competing masked programs that rely solely on MMP cleavage
MDNA113’s IL-13Rα2 tumor-targeting domain drove selective accumulation and prolonged residence at the tumor site for at least 3 days in IL-13Rα2-expressing tumors, with clearance from non-expressing tissue, a tumor-anchoring capability not incorporated by any other PD-1 x IL-2 bispecific in development
In syngeneic mouse tumor models, MDNA113 demonstrated significant tumor growth inhibition with preferential expansion of CD8+ T cells expressing Granzyme B over NK cells and regulatory T cells, and efficacy was compromised with an uncleavable version, confirming conditional activation within the tumor microenvironment is required for therapeutic effect
MDNA113 was well tolerated at doses of 10, 30 and 50 mg/kg in non-human primates with pharmacokinetics consistent with approved anti-PD-1 antibodies, expanded CD8+ T cells without significant regulatory T cell increase, and did not produce dose-limiting adverse findings at any dose level tested
In a head-to-head non-human primate comparison at molar-equivalent doses, an anti-PD-1 x IL-2α-biased bispecific (1.4 mg/kg) exhibited severe toxicity after a single dose, including evidence of vascular leak syndrome, significant body weight loss, decreased serum albumin, elevated blood urea and liver enzymes, and increased white blood cell counts, and could not receive a second dose due to ongoing adverse events
By contrast, MDNA113 was well tolerated at exposures more than 30-fold higher than the single tolerated dose of the α-biased comparator and received repeat dosing without treatment-limiting findings, demonstrating a fundamentally wider therapeutic window than competing first-generation anti-PD-1 x IL-2α-biased bispecifics
A copy of the poster is available on the "Scientific Presentations" page of Medicenna’s website.

About MDNA113

MDNA113 is a novel, first-in-class tumor-targeted and tumor-activated bifunctional anti-PD-1x IL-2 Superkine with exceptionally high affinity for IL-13Rα2 without binding to the functional IL-13Rα1. IL-13Rα2 is overexpressed in a wide range of solid tumors, including "immunologically cold" tumors, with minimal to no expression in normal tissues. IL-13Rα2-expressing tumors also have abundant matrix metalloproteases in the tumor microenvironment that may efficiently activate MDNA113. IL-13Rα2 expression is associated with poor clinical outcomes in multiple tumor types including prostate, pancreatic, ovarian, liver, breast and brain cancer, with an annual worldwide incidence of over 2 million.

(Press release, Medicenna Therapeutics, APR 21, 2026, View Source [SID1234664615])

Karyopharm’s Phase 3 SENTRY Trial in Myelofibrosis Selected for Late-Breaking Oral Presentation at ASCO 2026 Annual Meeting

On April 21, 2026 Karyopharm Therapeutics Inc. (Nasdaq: KPTI), a commercial-stage pharmaceutical company pioneering novel cancer therapies, reported that its late-breaking abstract was accepted for an oral presentation at the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting, taking place May 29 to June 2 in Chicago. The oral presentation will feature results from the Phase 3 SENTRY trial, a randomized, double-blind, placebo-controlled trial of 60 mg selinexor in combination with ruxolitinib in myelofibrosis.

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Presentation Details:

Title: Selinexor plus ruxolitinib in JAK inhibitor–naïve myelofibrosis: Phase 3 SENTRY trial

Abstract Number: LBA6500

Session Title: Oral Abstract Session – Hematologic Malignancies—Leukemia, Myelodysplastic Syndromes, and Allotransplant

Presentation Time: June 2, 2026, 9:45 a.m. to 12:45 p.m. Central Time

Presenter: Dr. John Mascarenhas, Professor of Medicine at the Icahn School of Medicine at Mount Sinai and Director of the Center of Excellence for Blood Cancers and Myeloid Disorders
Late-breaking abstracts for presentations being held on June 2, 2026 will be released by ASCO (Free ASCO Whitepaper) on Tuesday, June 2, 2026 at 8:00 a.m. Eastern Time / 7:00 a.m. Central Time. A copy of the SENTRY presentation being delivered at ASCO (Free ASCO Whitepaper) on June 2, 2026 will be available following the event under "Publications and Presentations" in the Investor section of the Company’s website.

About the Phase 3 SENTRY Trial

SENTRY (XPORT-MF-034; NCT04562389) is a Phase 3 clinical trial evaluating a once-weekly dose of 60 mg of selinexor in combination with ruxolitinib compared to placebo plus ruxolitinib in JAKi-naïve myelofibrosis patients with platelet counts >100 x 109/L. Patients were randomized 2-to-1 to the selinexor arm. The co-primary endpoints for this trial are spleen volume reduction ≥ 35% (SVR35) at week 24 and the average change in absolute total symptom score (Abs-TSS) over 24 weeks relative to baseline.

About Myelofibrosis

Myelofibrosis is a rare blood cancer that affects approximately 20,000 patients in the United States and 17,000 patients in the European Union1. The disease causes bone marrow fibrosis (scarring in the bone marrow), which makes it difficult for the bone marrow to make healthy blood cells, splenomegaly (enlarged spleen), progressive anemia which often leads to symptoms like fatigue and weakness, and other disease associated symptoms including abdominal discomfort, pain under the left ribs, early satiety, night sweats and bone pain. The only approved class of therapies to treat myelofibrosis are JAK inhibitors, including ruxolitinib.

1. Clarivate/DRG (2023)

About XPOVIO (selinexor)

XPOVIO is a first-in-class, oral exportin 1 (XPO1) inhibitor compound for the treatment of cancer. XPOVIO functions by selectively binding to and inhibiting the nuclear export protein XPO1. XPOVIO is approved in the U.S. and marketed by Karyopharm in multiple oncology indications, including: (i) in combination with VELCADE (bortezomib) and dexamethasone (XVd) in adult patients with multiple myeloma after at least one prior therapy; (ii) in combination with dexamethasone in adult patients with heavily pre-treated multiple myeloma; and (iii) under accelerated approval in adult patients with diffuse large B-cell lymphoma (DLBCL), including DLBCL arising from follicular lymphoma, after at least two lines of systemic therapy. XPOVIO (also known as NEXPOVIO in certain countries) has received regulatory approvals in various indications in a growing number of ex-U.S. territories and countries, including but not limited to the European Union, the United Kingdom, Mainland China, Taiwan, Hong Kong, Australia, South Korea, Singapore, Israel, and Canada. XPOVIO/NEXPOVIO is marketed in these respective ex-U.S. territories by Karyopharm’s partners: Antengene, Menarini, Neopharm, and FORUS. Selinexor is also being investigated in several other mid- and late-stage clinical trials across multiple high unmet need cancer indications, including in myelofibrosis and endometrial cancer.

For more information about Karyopharm’s products or clinical trials, please contact the Medical Information department at: Tel: +1 (888) 209-9326; Email: [email protected]

XPOVIO (selinexor) is a prescription medicine approved:

In combination with bortezomib and dexamethasone for the treatment of adult patients with multiple myeloma who have received at least one prior therapy (XVd).

In combination with dexamethasone for the treatment of adult patients with relapsed or refractory multiple myeloma who have received at least four prior therapies and whose disease is refractory to at least two proteasome inhibitors, at least two immunomodulatory agents, and an anti‐CD38 monoclonal antibody (Xd).

For the treatment of adult patients with relapsed or refractory diffuse large B‐cell lymphoma (DLBCL), not otherwise specified, including DLBCL arising from follicular lymphoma, after at least two lines of systemic therapy. This indication is approved under accelerated approval based on response rate. Continued approval for this indication may be contingent upon verification and description of clinical benefit in confirmatory trial(s).
SELECT IMPORTANT SAFETY INFORMATION

Warnings and Precautions

Thrombocytopenia: Monitor platelet counts throughout treatment. Manage with dose interruption and/or reduction and supportive care.

Neutropenia: Monitor neutrophil counts throughout treatment. Manage with dose interruption and/or reduction and granulocyte colony‐stimulating factors.

Gastrointestinal Toxicity: Nausea, vomiting, diarrhea, anorexia, and weight loss may occur. Provide antiemetic prophylaxis. Manage with dose interruption and/or reduction, antiemetics, and supportive care.

Hyponatremia: Monitor serum sodium levels throughout treatment. Correct for concurrent hyperglycemia and high serum paraprotein levels. Manage with dose interruption, reduction, or discontinuation, and supportive care.

Serious Infection: Monitor for infection and treat promptly.

Neurological Toxicity: Advise patients to refrain from driving and engaging in hazardous occupations or activities until neurological toxicity resolves. Optimize hydration status and concomitant medications to avoid dizziness or mental status changes.

Embryo‐Fetal Toxicity: Can cause fetal harm. Advise females of reproductive potential and males with a female partner of reproductive potential, of the potential risk to a fetus and use of effective contraception.

Cataract: Cataracts may develop or progress. Treatment of cataracts usually requires surgical removal of the cataract.
Adverse Reactions

The most common adverse reactions (≥20%) in patients with multiple myeloma who receive XVd are fatigue, nausea, decreased appetite, diarrhea, peripheral neuropathy, upper respiratory tract infection, decreased weight, cataract and vomiting. Grade 3‐4 laboratory abnormalities (≥10%) are thrombocytopenia, lymphopenia, hypophosphatemia, anemia, hyponatremia and neutropenia. In the BOSTON trial, fatal adverse reactions occurred in 6% of patients within 30 days of last treatment. Serious adverse reactions occurred in 52% of patients. Treatment discontinuation rate due to adverse reactions was 19%.

The most common adverse reactions (≥20%) in patients with multiple myeloma who receive Xd are thrombocytopenia, fatigue, nausea, anemia, decreased appetite, decreased weight, diarrhea, vomiting, hyponatremia, neutropenia, leukopenia, constipation, dyspnea and upper respiratory tract infection. In the STORM trial, fatal adverse reactions occurred in 9% of patients. Serious adverse reactions occurred in 58% of patients. Treatment discontinuation rate due to adverse reactions was 27%.

The most common adverse reactions (incidence ≥20%) in patients with DLBCL, excluding laboratory abnormalities, are fatigue, nausea, diarrhea, appetite decrease, weight decrease, constipation, vomiting, and pyrexia. Grade 3‐4 laboratory abnormalities (≥15%) are thrombocytopenia, lymphopenia, neutropenia, anemia, and hyponatremia. In the SADAL trial, fatal adverse reactions occurred in 3.7% of patients within 30 days, and 5% of patients within 60 days of last treatment; the most frequent fatal adverse reactions was infection (4.5% of patients). Serious adverse reactions occurred in 46% of patients; the most frequent serious adverse reaction was infection (21% of patients). Discontinuation due to adverse reactions occurred in 17% of patients.
Use In Specific Populations

Lactation: Advise not to breastfeed.

For additional product information, including full prescribing information, please visit www.XPOVIO.com.

To report SUSPECTED ADVERSE REACTIONS, contact Karyopharm Therapeutics Inc. at 1‐888‐209‐9326 or FDA at 1‐800‐FDA‐1088 or www.fda.gov/medwatch.

(Press release, Karyopharm, APR 21, 2026, View Source [SID1234664614])