Labcorp Announces 2026 First Quarter Results; Raises Full Year 2026 Guidance

On April 30, 2026 Labcorp Holdings Inc (NYSE: LH), a global leader of innovative and comprehensive laboratory services, reported results for the first quarter ended March 31, 2026 and updated full-year guidance.

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"Labcorp delivered another quarter of strong results, with robust growth and double-digit Adjusted EPS growth driven by continued momentum across our Diagnostics and Central Laboratory businesses," said Adam Schechter, Chairman and CEO of Labcorp. "Health systems, providers, consumers, and biopharmaceutical customers are increasingly turning to Labcorp as their partner of choice for their complex, innovative testing needs. Our investments in advanced technologies, including robotics and AI, are improving the customer experience and transforming the way we operate. Driven by continued progress across our strategic priorities, we are raising our full year Adjusted EPS guidance to $18.03 at the midpoint of the range, an increase of $0.13."

Labcorp continues to advance its strategic priorities:

Be a partner of choice for health systems and regional and local laboratories:

Announced a nationwide strategic collaboration with Children’s Hospital of Philadelphia (CHOP) to expand access to cutting-edge diagnostics for pediatric patients.
Completed the acquisition of select assets of Crouse Health’s Laboratory Alliance of Central New York and executed an agreement with Crouse Health to manage their inpatient labs.
Lead in specialty testing:

Announced a collaboration with Illumina to expand access to advanced genomic testing in oncology to deliver more precise biomarker insights.
Expanded nationwide access to the first FDA-approved companion diagnostic that helps identify patients with platinum‑resistant ovarian cancer who may benefit from Merck’s KEYTRUDA and KEYTRUDA QLEX.
Launched the Labcorp Fentanyl Visual Urine Test, an FDA‑cleared rapid screening test that delivers results in just 10 minutes and assesses possible fentanyl exposure for up to 48 hours.
Shape our future through technology and innovation:

Launched an AI-powered, real-world data platform with Amazon Web Services (AWS) and Datavant to accelerate Alzheimer’s research.
Expanded a collaboration with PathAI to deploy AISight Dx, an FDA-cleared digital pathology platform.
Announced a collaboration with Optum.ai to apply AI capabilities to streamline laboratory operations, improve efficiency, and enhance the patient and provider experience.
Drive personalized health solutions:

Grew Consumer Health and expanded the Labcorp OnDemand test portfolio with new tests for insulin resistance and pancreatic function, as well as customizable men’s and women’s health tests.
In May, the company will launch MyLabcorp, a secure, AI-powered mobile app that brings an individual’s test results and health data together with clinical guidance to help consumers better understand their test results.
Labcorp also remains committed to a disciplined allocation of capital. In the first quarter of 2026, the company invested $202.2 million in acquisitions, repurchased $98.0 million of stock, and paid out $61.2 million in dividends. On April 9, 2026, the company announced a quarterly cash dividend of $0.72 per share of common stock, payable on June 11, 2026, to stockholders of record at the close of business on May 29, 2026.

(Press release, LabCorp, APR 30, 2026, View Source [SID1234664970])

Illumina Reports Financial Results for First Quarter of Fiscal Year 2026

On April 30, 2026 Illumina, Inc. (Nasdaq: ILMN) ("Illumina" or the "company") reported its financial results for the first quarter of fiscal year 2026.

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First quarter 2026 results:
•Revenue of $1.09 billion for Q1 2026, up 4.8% from Q1 2025 (ROW1 organic revenue growth of 3.5%)
•GAAP operating margin of 19.2% and non-GAAP operating margin of 21.9%
•GAAP diluted EPS of $0.87 and non-GAAP diluted EPS of $1.15
•On April 28, 2026, our Board of Directors authorized an additional $1.5 billion in share repurchases

"Illumina delivered a strong start to 2026, reflecting strength of the Illumina ecosystem and progress against our strategy," said Jacob Thaysen, Chief Executive Officer of Illumina. "Demand for NovaSeq X is increasing as we help our clinical customers expand into new application areas. With our strong first quarter performance, we are raising our full-year revenue and EPS guidance."

Fiscal year 2026 guidance:
For fiscal year 2026, we now expect:
•Total revenue of $4.52-$4.62 billion, a $20 million increase at the mid-point versus our prior guidance
•Reported revenue growth of 4%-6% and ROW organic revenue growth of 2%-4%, both unchanged from prior guidance
•Non-GAAP operating margin of 23.4%-23.6% versus our prior guidance of 23.3%-23.5%
•Non-GAAP diluted EPS of $5.15-$5.30 versus our prior guidance of $5.05-$5.20

First quarter results

GAAP Non-GAAP (a)
Dollars in millions, except per share amounts
Q1 2026 Q1 2025 Q1 2026 Q1 2025
Revenue
$ 1,091 $ 1,041 $ 1,091 $ 1,041
Gross margin
66.1 % 65.6 % 68.2 % 67.4 %
Operating profit
$ 209 $ 164 $ 239 $ 212
Operating margin 19.2 % 15.8 % 21.9 % 20.4 %
Diluted EPS $ 0.87 $ 0.82 $ 1.15 $ 0.97

(a)See tables in "Results of Operations – Non-GAAP" section below for GAAP and non-GAAP reconciliations.

Capital expenditures for free cash flow purposes were $38 million for Q1 2026. Cash flow provided by operations was $289 million, compared to $240 million in the prior year period. Free cash flow (cash flow provided by operations less capital expenditures) was $251 million for the quarter, compared to $208 million in the prior year period. Depreciation and amortization expense was $69 million for Q1 2026. At the close of the quarter, the company held $1.16 billion in cash, cash equivalents and short-term investments.

Financial outlook and guidance
The company provides forward-looking guidance on a non-GAAP basis. The company is unable to provide a reconciliation of forward-looking non-GAAP financial measures to the most directly comparable GAAP reported financial measures because it is unable to predict with reasonable certainty the impact of items such as acquisition-related costs, fair value adjustments to contingent consideration, gains and losses from strategic investments, asset impairments, restructuring activities, and the ultimate outcome of pending litigation, among others, without unreasonable effort. These items are uncertain, inherently difficult to predict, depend on various factors, and could have a material impact on GAAP reported results for the guidance period. For the same reasons, the company is unable to address the significance of the unavailable information, which could be material to future results.

Conference call information
The conference call will begin at 1:30 pm Pacific Time (4:30 pm Eastern Time) on Thursday, April 30, 2026. Interested parties may access the live webcast via the Investor Info section of Illumina’s website or directly through the following link – View Source To ensure timely connection, please join at least ten minutes before the scheduled start of the call. A replay of the conference call will be posted on Illumina’s website after the event and will be available for at least 30 days following.

Statement regarding use of non-GAAP financial measures
The company reports non-GAAP results for diluted earnings per share, gross margin, operating margin, and free cash flow, among others, in addition to, and not as a substitute for, or superior to, financial measures calculated in accordance with GAAP. The company’s financial measures under GAAP include substantial charges such as amortization of acquired intangible assets, among others, that are listed in the reconciliations of GAAP and non-GAAP financial measures included in this press release. Management has excluded the effects of these items in non-GAAP measures to assist investors in analyzing and assessing past and future operating performance. Non-GAAP operating margin and diluted earnings per share are key components of the financial metrics utilized by the company’s board of directors to measure, in part, management’s performance and determine significant elements of management’s compensation.

The company encourages investors to carefully consider its results under GAAP, as well as its supplemental non-GAAP information and the reconciliation between these presentations, to more fully understand its business. Reconciliations between GAAP and non-GAAP results are presented in the tables of this release.

(Press release, Illumina, APR 30, 2026, View Source [SID1234664968])

Aptose Biosciences Announces Update on Anticipated Timing of Closing of the Plan of Arrangement with Hanmi Pharmaceutical

On April 30, 2026 Aptose Biosciences Inc. ("Aptose" or the "Company") (TSX: APS; OTC: APTOF) reported that closing of the previously announced arrangement (the "Arrangement") with Hanmi Pharmaceutical Co. Ltd. ("Hanmi") and HS North America Ltd., a wholly owned subsidiary of Hanmi ("Hanmi Purchaser" and together with Hanmi, the "Hanmi Purchasers"), has been delayed as certain Korean regulatory approvals pertaining to the Arrangement remain in progress. The parties do not anticipate that the review will prevent closing and continue to work toward completing the Arrangement that they now target for the month of May. The Company will provide a further update when available.

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Transaction Details

As previously disclosed in the Company’s news release dated November 19, 2025 (here), upon the completion of the Arrangement, Hanmi will acquire all of the issued and outstanding common shares of Aptose ("Common Shares") that are not currently owned or controlled by the Hanmi Purchasers or their respective affiliates and shareholders of Aptose, other than the Hanmi Purchasers and their respective affiliates that hold any Common Shares, will receive C$2.41 in cash per Common Share, which represents a premium of 28% over Aptose’s 30-day VWAP of C$1.88 on the Toronto Stock Exchange for the period immediately preceding entering into the Arrangement Agreement.

(Press release, Hanmi, APR 30, 2026, View Source [SID1234664967])

Genprex Receives Patent Grant from The Israel Patent Office for the Combination of Reqorsa® Gene Therapy and PD-1 Antibodies to Treat Cancer

On April 30, 2026 Genprex, Inc. ("Genprex" or the "Company") (NASDAQ: GNPX), a clinical-stage gene therapy company focused on developing life-changing therapies for patients with cancer and diabetes, reported that The Israel Patent Office (ILPO) has granted Genprex a patent covering the use of Reqorsa Gene Therapy (quaratusugene ozeplasmid) in combination with PD-1 antibodies for the treatment of cancer.

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"Securing this patent in Israel further solidifies Genprex’s robust patent estate for Reqorsa, particularly for its synergistic combination with PD-1 antibodies in treating various cancers," said Thomas Gallagher, Senior Vice President of Intellectual Property and Licensing at Genprex. "This strategic expansion builds upon our existing intellectual property in numerous major markets worldwide and underscores the scientific innovation behind Reqorsa."

This patent will expand on the previously granted patents for REQORSA in combination with PD-1 antibodies, which have been granted in the U.S., Japan, Mexico, Russia, Australia, Chile, China, Singapore and Europe.

REQORSA is initially being developed in combination with prominent, approved cancer drugs to treat lung cancer. In preclinical studies, REQORSA has been shown to be complementary with targeted drugs and immunotherapies. The Company believes REQORSA’s unique attributes position it to provide potential treatments that improve on these current therapies for patients with lung cancer and possibly other cancers.

According to the Israeli Ministry of Health, in 2020, the number of cases of lung cancer in Israel increased by 33% (not per capita) within a decade, with 200 new cases diagnosed every month. In 2015, the lung cancer mortality rate reached 26% of the mortality rate from all cancers. According to the Israel Cancer Association, in 2021 lung cancer was the number one cancer death cause in Israeli population, responsible for 21.1% of all cancer deaths among Israeli men and 11.8% cancer deaths among Israeli women. Israel is ranked 42 in terms of lung cancer incidence (number of new cases diagnosed) and 66 in lung cancer mortality worldwide.

(Press release, Genprex, APR 30, 2026, View Source [SID1234664966])

Lilly reports first-quarter 2026 financial results, raises full year guidance, and highlights momentum of new medicines

On April 30, 2026 Eli Lilly and Company (NYSE: LLY) reported its financial results for the first quarter of 2026 and provided updated 2026 financial guidance.

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"2026 is off to a strong start, we delivered 56% revenue growth in the first quarter and raised our full-year revenue guidance by $2 billion," said David A. Ricks, Lilly chair and CEO. "A key milestone was the U.S. FDA approval of Foundayo—the only approved GLP-1 pill that can be taken any time of day, without food and water restrictions. Foundayo will meaningfully expand the number of people who can benefit from GLP-1s. We also delivered pipeline progress across all four therapeutic areas and continued investing in Lilly’s future growth through four acquisitions."

Financial Results

$ in millions, except

per share data

First-Quarter

2026

2025

% Change

Revenue

$ 19,799

$ 12,729

56 %

Net income – Reported

7,396

2,759

168 %

Earnings per share – Reported

8.26

3.06

170 %

Net income – Non-GAAP

7,663

3,004

155 %

Earnings per share – Non-GAAP

8.55

3.34

156 %

A discussion of the non-GAAP financial measures is included below under "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)."

First-Quarter Reported Results
In Q1 2026, worldwide revenue was $19.8 billion, an increase of 56% compared with Q1 2025, driven by a 65% increase in volume, partially offset by a 13% decrease due to lower realized prices. Key Products1 revenue grew to $13.4 billion in Q1 2026, led by Mounjaro and Zepbound. Key Products revenue in the Immunology, Oncology, and Neuroscience therapeutic areas grew 160% in Q1 2026 compared to Q1 2025.

Revenue in the U.S. increased 43% to $12.1 billion, driven by a 49% increase in volume, partially offset by a 7% decrease due to lower realized prices. The increase in U.S. volume was driven by Zepbound and Mounjaro and the decline in realized prices was primarily driven by Zepbound and Taltz.

Revenue outside the U.S. increased 81% to $7.7 billion, driven by a 95% increase in volume, partially offset by a 25% decrease due to lower realized prices. The lower realized prices outside the U.S. were driven primarily by the addition of Mounjaro to the National Reimbursed Drug List (NRDL) in China. The volume increase outside the U.S. was driven by Mounjaro. Jardiance revenue outside the U.S. included one-time benefits of $250 million in Q1 2026 compared to $370 million in Q1 2025, associated with the company’s collaboration with Boehringer Ingelheim.

1 The Company currently defines Key Products as Ebglyss, Inluriyo, Jaypirca, Kisunla, Mounjaro, Omvoh, and Zepbound. Effective Q1 2026, Verzenio is excluded from Key Products.

Gross margin increased 54% to $16.2 billion in Q1 2026. Gross margin as a percent of revenue was 81.9%, a decrease of 0.6 percentage points versus the same quarter last year. The change was primarily driven by lower realized prices.

In Q1 2026, research and development expenses increased 28% to $3.5 billion, or 18% of revenue, driven by continued investments in the company’s early and late-stage portfolio.

Marketing, selling, and administrative expenses increased 19% to $2.9 billion in Q1 2026, primarily driven by promotional efforts supporting ongoing and planned launches.

In Q1 2026, the company recognized acquired in-process research and development (IPR&D) charges of $584 million compared with $1.6 billion in Q1 2025. The Q1 2025 charges primarily related to the acquisition of Scorpion Therapeutics, Inc.’s PI3Kα inhibitor program STX-478.

Asset impairment, restructuring and other special charges of $279 million in Q1 2026 were primarily related to litigation matters. In Q1 2025, there was a charge of $35 million related to intangible asset impairments.

The effective tax rate was 16.4% in Q1 2026 compared with 20.2% in Q1 2025, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2026 and 2025 effective tax rates were impacted by net discrete tax benefits in each period.

In Q1 2026, net income and earnings per share (EPS) were $7.4 billion and $8.26, respectively, compared with net income of $2.8 billion and EPS of $3.06 in Q1 2025. EPS in Q1 2026 and Q1 2025 included acquired IPR&D charges of $0.52 and $1.72, respectively.

First-Quarter Non-GAAP Measures
On a non-GAAP basis, Q1 2026 gross margin increased 54% to $16.4 billion. Gross margin as a percent of revenue was 82.6%, a decrease of 0.9 percentage points versus the same quarter last year. The change was primarily driven by lower realized prices.

The non-GAAP effective tax rate was 16.5% in Q1 2026 compared with 20.2% in Q1 2025, primarily driven by the unfavorable tax impact of a non-deductible acquired IPR&D charge in Q1 2025. The 2026 and 2025 effective tax rates were impacted by net discrete tax benefits in each period.

On a non-GAAP basis, Q1 2026 net income and EPS were $7.7 billion and $8.55, respectively, compared with net income of $3.0 billion and EPS of $3.34 in Q1 2025. Non-GAAP EPS in Q1 2026 and Q1 2025 included acquired IPR&D charges of $0.52 and $1.72, respectively.

For further detail on non-GAAP measures, see the reconciliation below as well as the "Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited)" table later in this press release.

First-Quarter

2026

2025

% Change

Earnings per share (reported)

$ 8.26

$ 3.06

170 %

Amortization of intangible assets

.11

.11

Asset impairment, restructuring and other special charges

.25

.03

Net losses (gains) on investments in equity securities

(.07)

.13

Earnings per share (non-GAAP)

$ 8.55

$ 3.34

156 %

Acquired IPR&D

.52

1.72

(70) %

Numbers may not add due to rounding

Selected Revenue Highlights

(Dollars in millions)

First-Quarter

Selected Products

2026

2025

% Change

Mounjaro

$ 8,662

$ 3,842

125 %

Zepbound(1)

4,160

2,312

80 %

Jaypirca

165

92

79 %

Ebglyss

145

60

141 %

Kisunla

124

22

NM

Omvoh

80

37

115 %

Inluriyo

35

NM

Total Revenue

19,799

12,729

56 %

(1) Tirzepatide is marketed for obesity under the brand name Zepbound in Canada, Japan, and the
United States.

NM – not meaningful

Mounjaro
For Q1 2026, worldwide Mounjaro revenue increased 125% to $8.7 billion. U.S. revenue was $4.2 billion, an increase of 59%, reflecting strong demand, partially offset by lower realized prices. Lower realized prices were partially offset by a favorable one-time adjustment to estimates for rebates and discounts in Q1 2026. Revenue outside the U.S. increased to $4.4 billion compared with $1.2 billion in Q1 2025, primarily driven by volume growth, partially offset by lower realized prices driven by the addition of Mounjaro to the NRDL within the China market.

Zepbound
For Q1 2026, U.S. Zepbound revenue increased 79% to $4.1 billion, compared with $2.3 billion in Q1 2025, primarily driven by strong demand, partially offset by lower realized prices, including previously announced reductions in cash pay prices. Lower realized prices were partially offset by a favorable one-time adjustment to estimates for rebates and discounts in Q1 2026.

Lilly shared numerous updates recently on key regulatory, clinical, business development and other events, including:

Regulatory

FDA approves Lilly’s Foundayo (orforglipron), the only GLP-1 pill for weight loss that can be taken any time of day without food or water restrictions (announcement)

Lilly’s Olumiant (baricitinib) recommended by CHMP for approval of expanded use in the European Union for adolescents with severe alopecia areata (announcement)

Zepbound (tirzepatide), the most prescribed weight management medication in 2025, now available in multi-dose KwikPen (announcement)

Clinical

ACHIEVE-4, the longest Phase 3 study of Lilly’s Foundayo (orforglipron) to date, reaffirmed its cardiovascular and overall safety profile as well as consistent improvements across key measures of cardiometabolic health (announcement)

Lilly’s Jaypirca (pirtobrutinib) significantly extended progression-free survival when added to a venetoclax time-limited regimen in patients with previously treated CLL/SLL (announcement)

Phase 3b data presented at AAD Annual Meeting show Lilly’s Taltz (ixekizumab) plus Zepbound (tirzepatide) delivered superior efficacy for adults with psoriatic arthritis and obesity (announcement)

Lilly’s EBGLYSS (lebrikizumab-lbkz) delivered up to four years of durable disease control for patients with moderate-to-severe atopic dermatitis (announcement)

Lilly’s triple agonist, retatrutide, demonstrated significant reductions in A1C and weight in first Phase 3 trial for treatment of type 2 diabetes (announcement)

Lilly’s EBGLYSS (lebrikizumab-lbkz) is the first and only selective IL-13 inhibitor to deliver positive Phase 3 outcomes in patients aged six months to 18 years with moderate-to-severe atopic dermatitis (announcement)

Lilly’s oral GLP-1, orforglipron, delivered superior blood sugar control and weight loss compared to oral semaglutide in head-to-head type 2 diabetes trial published in The Lancet (announcement)

Patients with Crohn’s disease maintained steroid-free remission for three years with Lilly’s Omvoh (mirikizumab-mrkz) (announcement)

Lilly’s Taltz (ixekizumab) and Zepbound (tirzepatide) used together delivered superior efficacy in first-of-its-kind Phase 3b trial for adults with psoriasis and obesity or overweight (announcement)

Lilly’s Retevmo (selpercatinib) delivers substantial event-free survival benefit as an adjuvant therapy in early-stage RET fusion-positive lung cancer (announcement)

Other

Lilly to acquire Ajax Therapeutics to advance outcomes for patients with myelofibrosis and polycythemia vera (announcement)

Lilly to acquire Kelonia Therapeutics to advance in vivo CAR-T cell therapies (announcement)

Foundayo (orforglipron), Lilly’s new oral GLP-1 pill for weight loss, now available in the U.S. (announcement)

Lilly to acquire Centessa Pharmaceuticals to advance treatments for sleep-wake disorders (announcement)

Lilly Employer Connect platform launches with over fifteen independent program administrators offering tailored obesity coverage options to expand access to patients (announcement)

Lilly to acquire Orna Therapeutics to advance cell therapies (announcement)

For information on important public announcements, visit the news section of Lilly’s website.

2026 Financial Guidance
In addition to providing guidance for GAAP revenue, Lilly provides guidance for certain non-GAAP measures.

The following table summarizes the company’s updated full-year 2026 non-GAAP financial guidance, reflecting the strong revenue performance in Q1:

Prior

Updated

Revenue

$80 to $83 billion

$82 to $85 billion

Performance Margin(1)(2)

46.0% to 47.5%

47.0% to 48.5%

Tax Rate(1)(3)

18% to 19%

Unchanged

Earnings per Share(1)(3)(4)

$33.50 to $35.00

$35.50 to $37.00

(1) Lilly does not provide reconciliations of forward-looking non-GAAP measures to the most directly comparable GAAP measures
because comparable GAAP measures are not reasonably accessible or reliable due to the inherent difficulty in forecasting and
quantifying measures that would be necessary for a reconciliation. In particular, Lilly cannot reasonably predict certain items including
net gains and losses on equity securities, asset impairment, acquisition or divestiture-related items, restructuring and other adjustments,
without unreasonable effort. These items are uncertain, depend on various factors, and could have a material impact on Lilly’s reported
results in accordance with GAAP. See Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information (Unaudited) table
below for additional Non-GAAP information.

(2) The company defines performance margin as gross margin less research and development and marketing, selling, and administrative
expenses divided by revenue.

(3) Guidance does not include acquired in-process research and development (IPR&D) incurred after March 31, 2026.

(4) 2026 assumes shares outstanding of approximately 895 million and foreign currency exchange rate assumptions of 1.16 (Euro), 153
(Yen) and 7.1 (Yuan)

Webcast of Conference Call
As previously announced, investors and the general public can access a live webcast of the Q1 2026 financial results conference call through a link on Lilly’s website at investor.lilly.com/webcasts-and-presentations. The conference call will begin at 10 a.m. Eastern time today and will be available for replay via the website.

(Press release, Eli Lilly, APR 30, 2026, View Source [SID1234664965])