On November 25, 2019 Agilent Technologies Reported that Fourth-Quarter and Fiscal Year 2019 Financial Results (Press release, Agilent, NOV 25, 2019, https://www.agilent.com/about/newsroom/presrel/2019/25nov-gp19026.html [SID1234551649]).

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Highlights:

Fourth-quarter fiscal year 2019

Revenue of $1.37 billion represents 6% reported growth; and up 4% on a core(1) basis led by strong results from the Agilent CrossLab Group and the Diagnostics and Genomics Group
GAAP net income of $194 million with EPS of 62 cents, up 2% year over year
Non-GAAP(2) net income of $277 million with EPS of 89 cents, up 10% year over year
Fiscal year 2019

Fiscal year 2019 revenue of $5.16 billion delivers 5% reported growth and a 5% increase in core(1) revenue over fiscal year 2018
Full-year GAAP net income of $1.07 billion with EPS of $3.37, up 247% year over year
Non-GAAP(2) net income of $989 million with EPS of $3.11, up 11% year over year
Outlook

Fiscal year 2020 revenue expected in the range of $5.50 billion to $5.55 billion, representing core(1) growth of 4% to 5%. Fiscal year 2020 non-GAAP(3) earnings guidance of $3.38 to $3.43 per share
Fiscal first-quarter revenue guidance of $1.340 billion to $1.355 billion, representing core(1) revenue growth of 2.5% to 3.5%. Fiscal first-quarter non-GAAP(3) earnings guidance of 80 cents to 81 cents per share
Agilent Technologies, Inc. (NYSE: A) today reported revenue of $1.37 billion for the fourth quarter ended Oct. 31, 2019, up 6% year over year (core(1) growth of 4%).

On a GAAP basis, fourth-quarter net income was $194 million, or 62 cents per share. This compares with $195 million, or 61 cents per share, in the fourth quarter of fiscal year 2018. Non-GAAP(2) net income was $277 million, or 89 cents per share, during the quarter, compared with $262 million or 81 cents per share during the fourth quarter a year ago.

"Agilent’s fourth-quarter results cap off a very solid 2019 and reflect the broad-based business we’ve built over the last five years," said Mike McMullen, Agilent president and CEO. "Based on what we’ve been able to achieve in 2019, I’m convinced we’re in an exceptionally strong position for the future."

Financial Highlights

Life Sciences and Applied Markets Group

Fourth-quarter revenue of $622 million from Agilent’s Life Sciences and Applied Markets Group (LSAG) grew a reported 4% year over year (declining 2% on a core(1) basis). LSAG’s operating margin for the quarter was 25.3%. Full-year revenue of $2.30 billion increased a reported 1% versus fiscal 2018 (down 1% on a core(1) basis). LSAG’s operating margin for the year was 23.5%.

Agilent CrossLab Group

Agilent CrossLab Group (ACG) posted fourth-quarter revenue of $476 million, representing year-over-year reported growth of 8% (up 10% on a core(1) basis). ACG’s operating margin for the quarter was 28.0%. Full-year revenue of $1.84 billion grew a reported 8% over last year (up 10% on a core(1) basis). ACG’s operating margin for the year was 25.8%.

Diagnostics and Genomics Group

The Diagnostics and Genomics Group (DGG) generated fourth-quarter revenue of $269 million, up a reported 5% year over year (up 7% on a core(1) basis). DGG posted operating margins of 19.7%. Full-year revenue was $1.02 billion, which was up a reported 8% year over year (up 9% on a core(1) basis). DGG’s operating margin for the year was 18.2%.

Full-Year and Fourth Quarter Outlook

For fiscal year 2020, Agilent expects revenue of $5.50 billion to $5.55 billion. Fiscal year 2020 non-GAAP(3) earnings guidance is in the range of $3.38 to $3.43 per share.

Agilent expects fiscal first-quarter 2020 revenue in the range of $1.340 billion to $1.355 billion. First-quarter 2020 non-GAAP(3) earnings are expected to be in the range of 80 cents to 81 cents per share.

The outlook is based on Oct. 31, 2019, currency exchange rates.

Conference Call

Agilent’s management will present more details about its fourth-quarter and fiscal year 2019 financial results on a conference call with investors today at 1:30 p.m. (Pacific time). This event will be webcast live in listen-only mode. Listeners may log on to Agilent’s Investor Relations web page and select "Q4 2019 Agilent Technologies Inc. Earnings Conference Call" in the "News & Events – Events" section. The webcast will remain available on the company’s website for 90 days.

Additional financial information can be found at www.investor.agilent.com by selecting "Financial Results" in the "Financial Information" section.

On November 25, 2019 NanoString Technologies, Inc. (NASDAQ:NSTG), a leading provider of life science tools for translational research and molecular diagnostic products, reported that the company’s management is scheduled to present at the Evercore ISI 2nd Annual HealthCONx Conference in Boston (Press release, NanoString Technologies, NOV 25, 2019, View Source [SID1234551666]).

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Brad Gray, president and chief executive officer, is scheduled to present on Wednesday, December 4th, 2019 from 2:00-2:40pm ET. Interested parties can access the live webcast with accompanying slides from the investor section of the company’s website at www.nanostring.com. The webcast replay will be available one hour after the conclusion of the live presentation and archived for 60 days.

On November 25, 2019 Arrowhead Pharmaceuticals Inc. (NASDAQ: ARWR) reported financial results for its fiscal year ended September 30, 2019 (Press release, Arrowhead Research Corporation, NOV 25, 2019, View Source [SID1234551650]). The company is hosting a conference call at 4:30 p.m. EST to discuss results.

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Conference Call and Webcast Details

Investors may access a live audio webcast on the Company’s website at View Source For analysts that wish to participate in the conference call, please dial 855-215-6159 or 315-625-6887 and provide Conference ID 7768049.

A replay of the webcast will be available on the company’s website approximately two hours after the conclusion of the call and will remain available for 90 days. An audio replay will also be available approximately two hours after the conclusion of the call and will be available for 3 days. To access the audio replay, dial 855-859-2056 or 404-537-3406 and provide Conference ID 7768049.

Selected Recent Events

Began dosing patients in an adaptive design Phase 2/3 trial, called SEQUOIA, with the potential to serve as a pivotal registrational study of ARO-AAT, Arrowhead’s second generation subcutaneously administered RNAi therapeutic being developed as a treatment for a rare genetic liver disease associated with alpha-1 antitrypsin deficiency

Began recruiting patients for the ARO-AAT 2002 study, a pilot open-label, multi-dose, Phase 2 study to assess changes in a novel histological activity scale in response to ARO-AAT over time in patients with alpha-1 antitrypsin deficiency associated liver disease

Arrowhead collaborator, Janssen Pharmaceuticals, Inc., part of the Janssen Pharmaceutical Companies of Johnson & Johnson, began dosing patients a Phase 2b triple combination study called REEF-1, designed to enroll up to 450 patients with chronic hepatitis B infection, and in connection with the start of this study Arrowhead earned a $25 million milestone payment

Hosted an analyst R&D Day to discuss Arrowhead’s emerging pipeline of RNAi therapeutics and advancements being made to the company’s proprietary Targeted RNAi Molecule (TRIMTM) platform

With collaborator, Janssen, presented Phase 2 clinical data on a double combination of JNJ-3989 (formerly ARO-HBV) and a nucleos(t)ide analog (NA), and the first clinical data on a triple combination of JNJ-3989, JNJ-6379, and an NA, in two poster presentations at The Liver Meeting, the Annual Meeting of the American Association for the Study of Liver Disease

Presented new clinical data on two cardiometabolic candidates, ARO-APOC3 being developed as a potential treatment for patients with severe hypertriglyceridemia and familial chylomicronemia syndrome, and ARO-ANG3 being developed for the treatment of dyslipidemias, such as homozygous familial hypercholesterolemia (HoFH), and metabolic diseases, in two late-breaking oral presentations at the American Heart Association Scientific Sessions 2019

Expanded the management team to include highly accomplished and proven leaders Javier San Martin, M.D., in the role of chief medical officer, and Curt Bradshaw, Ph.D., in the role of chief scientific officer

On November 25, 2019 Ardelyx, Inc. (Nasdaq: ARDX), a specialized biopharmaceutical company focused on developing first-in-class medicines to improve treatment for people with cardiorenal diseases and Kyowa Kirin Co., Ltd., (TSE:4151, President and CEO: Masashi Miyamoto, Kyowa Kirin), a Japan-based Global Specialty Pharmaceutical Company, reported the expansion of their partnership with two new agreements (Press release, Ardelyx, NOV 25, 2019, View Source [SID1234551667]).

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In the first agreement, the companies have established a two-year research collaboration, whereby Ardelyx will execute a research plan, in which Kyowa Kirin will also join, to advance two of Ardelyx’s ongoing research programs focused on the identification and design of compounds to two undisclosed targets. In return, Kyowa Kirin will pay Ardelyx $10 million ($5 million a year for two years) to support the ongoing research. Following the end of the research period, Kyowa Kirin will have the option to license any candidates nominated by the companies for further development and commercialization in certain specified territories, with additional commitments payable to Ardelyx of up to $10.5 million in upfronts and up to $500 million in development and sales milestones. The research collaboration will be governed by a joint research committee. Additional terms were not disclosed.

Under the second agreement, Kyowa Kirin has made a $20 million equity investment in Ardelyx at $6.96 for 2,873,563 shares.

"Kyowa Kirin is a leader in the development and commercialization of medicines for patients with cardiorenal disease and an important and highly collaborative partner for Ardelyx and we’re thrilled to expand our relationship with them," said Mike Raab, president and chief executive officer of Ardelyx. "The research collaboration will leverage our successful drug discovery platform, which includes tools and techniques for selectively modulating the exposure of drug leads, our human stem cell-based translational technology, and our extensive experience in developing disease models, expertise that has proven successful in our development and approval of tenapanor. Funding from this agreement and the equity investment serve as an important source of capital as we prepare for the potential launch and commercialization of tenapanor in hyperphosphatemia."

Takeyoshi Yamashita, Ph.D., Executive officer, Director of Corporate Strategy & Planning Department of Kyowa Kirin added, "We view Ardelyx’s ability selectively targeting key molecule to be well validated with the successful discovery and development of tenapanor, a novel, ground-breaking inhibitor of the sodium hydrogen exchanger 3 (NHE3). Through our newly established research and equity agreements, we look forward to a deeper, expanded collaboration with the Ardelyx team."

Ardelyx and Kyowa Kirin initially established a collaboration partnership in November 2017 through a license agreement that provided Kyowa Kirin with exclusive rights to develop and commercialize Ardelyx’s lead investigational product, tenapanor, for the treatment of cardiorenal diseases, including hyperphosphatemia, in Japan. Kyowa Kirin will have the exclusive rights to develop, market and commercialize tenapanor for cardiorenal diseases and conditions associated with them, including hyperphosphatemia, in Japan.

On November 25, 2019 Bio-Path Holdings, Inc., (Nasdaq:BPTH), a biotechnology company leveraging its proprietary DNAbilize antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs, reported the closing of its previously announced offering (Press release, Bio-Path Holdings, NOV 25, 2019, View Source [SID1234552311]). In a registered direct offering priced at-the-market, Bio-Path issued and sold 808,080 shares of its common stock and warrants to purchase up to 606,060 shares of its common stock, at a combined purchase price of $9.90 per share and associated warrant, for aggregate gross proceeds of approximately $8.0 million.

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H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.

The warrants have an exercise price of $9.90 per share and exercise period commencing immediately upon issuance and a term of five years.

Bio-Path currently intends to use the net proceeds from the offering for working capital and general corporate purposes.

The securities described above were offered and sold by Bio-Path pursuant to a "shelf" registration statement on Form S-3 (Registration No. 333-231537), including a base prospectus, previously filed with and declared effective by the Securities and Exchange Commission (SEC) on June 5, 2019. The offering of the securities was made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering were filed with the SEC and are available on the SEC’s website located at View Source Electronic copies of the prospectus supplement and the accompanying base prospectus may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at 646-975-6996 or e-mail at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.