On May 6, 2026 Revolution Medicines, a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, reported that The New England Journal of Medicine (NEJM) has published a report describing data from the Phase 1/2 clinical trial evaluating daraxonrasib, a RAS(ON) multi-selective inhibitor, in patients with previously treated metastatic RAS mutant pancreatic ductal adenocarcinoma (PDAC). The promising Phase 1/2 findings provided important insights supporting initiation of the company’s global, randomized Phase 3 registrational trial, RASolute 302. Revolution Medicines recently announced positive topline results from the RASolute 302 clinical trial showing an unprecedented overall survival benefit with daraxonrasib compared to standard of care cytotoxic chemotherapy, consistent with the Phase 1/2 single-arm observations.

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"RAS mutations are a central driver of disease across multiple solid tumors, including particularly pancreatic ductal adenocarcinoma. There is significant room for improvement in outcomes over current standard of care — cytotoxic chemotherapies that are not targeted to these underlying RAS cancer drivers," said Alan Sandler, M.D., chief development officer of Revolution Medicines. "Data from the Phase 1/2 trial show that daraxonrasib demonstrated promising clinical antitumor activity and durable responses, with an acceptable safety and tolerability profile, in patients with previously treated metastatic RAS mutant PDAC. These results, along with those from our Phase 3 trial, RASolute 302, strengthen our confidence in daraxonrasib’s potential to establish an important new treatment option for patients with pancreatic cancer and other RAS-addicted cancers."

The data published in NEJM reflect outcomes in the PDAC cohort from the RMC-6236-001 trial (NCT05379985), an open-label, multicenter Phase 1/2 trial evaluating daraxonrasib monotherapy in patients previously treated for metastatic solid tumors harboring RAS mutations.

In addition to RASolute 302, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC in earlier treatment lines and those with metastatic RAS mutant non-small cell lung cancer.

About Pancreatic Cancer and Pancreatic Ductal Adenocarcinoma
Pancreatic cancer is one of the most lethal malignancies, characterized by its typically late-stage diagnosis, resistance to standard chemotherapy, and high mortality rate. In the U.S., recent estimates indicate that annually approximately 60,000 people are diagnosed with pancreatic cancer, and about 50,000 people will die from this aggressive disease.1

Due to the lack of early symptoms and detection methods, approximately 80% of patients are diagnosed with PDAC at an advanced or metastatic stage. It is the most common RAS-addicted malignancy of all major cancers, and more than 90% of patients have tumors that harbor RAS mutations.2 Metastatic PDAC remains one of the most common causes of cancer-related deaths in the U.S., with a five-year survival rate of approximately 3%.3,4

About Daraxonrasib
Daraxonrasib is an investigational, oral RAS(ON) multi-selective, non-covalent inhibitor that is not approved by any regulatory authority, including in the United States or Europe. The U.S. Food and Drug Administration (FDA) granted daraxonrasib Breakthrough Therapy Designation and Orphan Drug Designation for the treatment of patients with previously treated metastatic pancreatic ductal adenocarcinoma (PDAC) harboring G12 mutations. In addition, daraxonrasib was selected for the FDA Commissioner’s National Priority Voucher pilot program, which is intended to accelerate the development and review of therapies aligned with U.S. national health priorities.

Daraxonrasib is designed to target cancers driven by a broad range of common RAS mutations, including PDAC, non-small cell lung cancer (NSCLC), and colorectal cancer. In addition to the RASolute 302 trial, daraxonrasib is being evaluated in three other global Phase 3 registrational trials, including in patients with PDAC and metastatic RAS mutant NSCLC.

Daraxonrasib works by suppressing RAS signaling through inhibition of the interaction between both wild-type and mutant RAS(ON) proteins and their downstream effectors.

(Press release, Revolution Medicines, MAY 6, 2026, View Source [SID1234665197])

On May 6, 2026 Revolution Medicines, Inc. (Nasdaq: RVMD), a late-stage clinical oncology company developing targeted therapies for patients with RAS-addicted cancers, reported its financial results for the quarter ended March 31, 2026, and provided an update on corporate progress.

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"Last month we reported positive results from the RASolute 302 trial of daraxonrasib, demonstrating an unprecedented improvement in overall survival in patients with previously treated metastatic pancreatic cancer," said Mark A. Goldsmith, M.D., Ph.D., chief executive officer and chairman of Revolution Medicines. "These results, which we intend to submit to global health authorities, mark a major advance for patients and strengthen our conviction in our RAS(ON) inhibition strategy across RAS-driven cancers. Reinforced by a growing body of evidence supporting our portfolio led by four innovative clinical-stage RAS(ON) inhibitors and continued expansion of our commercialization capabilities, our goal is to build Revolution Medicines into a leading targeted oncology company capable of delivering impactful therapies to patients worldwide."

Clinical Highlights

Pancreatic Ductal Adenocarcinoma (PDAC)

Daraxonrasib in PDAC

Daraxonrasib, a pioneering oral RAS(ON) multi-selective inhibitor, continues to demonstrate a differentiated clinical profile across lines of therapy and in both monotherapy and combination settings.

The company recently announced positive topline results from the pivotal, randomized Phase 3 RASolute 302 trial in second line (2L) PDAC, marking a major milestone in the development of daraxonrasib by showing its potential to improve patient outcomes. Daraxonrasib demonstrated statistically significant and clinically meaningful improvements in progression-free survival (PFS) and overall survival (OS) compared to standard of care cytotoxic chemotherapy. In the overall (intent-to-treat) study population, daraxonrasib demonstrated a median OS of 13.2 months versus 6.7 months for chemotherapy (hazard ratio 0.40; p<0.0001). Daraxonrasib was generally well tolerated, with no new safety signals.

These results are considered final for PFS and OS, and Revolution Medicines intends to submit these data to global regulatory authorities, including as part of a New Drug Application to the U.S. Food and Drug Administration (FDA) under the Commissioner’s National Priority Voucher program. The results will also be presented in a Plenary Session at the 2026 American Society of Clinical Oncology (ASCO) (Free ASCO Whitepaper) Annual Meeting. Following the FDA’s "safe to proceed" determination, the company has initiated an Expanded Access Program (EAP) for daraxonrasib in patients with previously treated PDAC, as previously disclosed.

The company also presented at the 2026 American Association for Cancer Research (AACR) (Free AACR Whitepaper) Annual Meeting updated clinical data from two Phase 1/2 clinical trials for daraxonrasib as monotherapy and in combination with chemotherapy in first line (1L) PDAC. The data further support the broad clinical impact of daraxonrasib and bolster the rationale for the ongoing RASolute 303 study:

RMC-6236-001: Daraxonrasib monotherapy demonstrated a manageable safety profile and encouraging clinical activity, including early signs of durability.
RMC-GI-102: Daraxonrasib in combination with standard of care chemotherapy demonstrated a manageable safety profile and encouraging clinical activity, including early signs of durability.
The company continues to evaluate daraxonrasib in two additional global randomized registrational Phase 3 studies in adjuvant and 1L metastatic PDAC:

RASolute 303: The company recently announced that it has begun treating patients to evaluate daraxonrasib as monotherapy and in combination with chemotherapy in patients with 1L metastatic disease.
RASolute 304: Enrollment continues in the registrational trial evaluating daraxonrasib monotherapy in the adjuvant setting in patients with resectable pancreatic cancer following surgery and perioperative chemotherapy.
Daraxonrasib recently received a positive opinion from the European Medicines Agency (EMA) on Orphan Drug Designation (ODD) for the treatment of pancreatic cancer, following prior ODD granted by the FDA. Previously daraxonrasib was also awarded Breakthrough Therapy Designation and a Commissioner’s National Priority Voucher for pancreatic cancer from the FDA.

Zoldonrasib in PDAC

Zoldonrasib, an innovative oral RAS(ON) G12D-selective covalent inhibitor, has shown a highly differentiated safety and tolerability profile as monotherapy and is also being evaluated across a range of combination regimens.

The company is advancing two registrational PDAC 1L Phase 3 studies incorporating zoldonrasib in combination:

RASolute 305: A randomized, double-blind, placebo-controlled trial evaluating zoldonrasib in combination with chemotherapy has been initiated.
RASolute 309: The company remains on track to initiate, in the second half of 2026, a registrational trial evaluating the RAS(ON) inhibitor doublet combination of zoldonrasib plus daraxonrasib.
Non-Small Cell Lung Cancer (NSCLC)

Daraxonrasib in NSCLC

RASolve 301, a global, randomized Phase 3 trial evaluating daraxonrasib monotherapy in patients with previously treated NSCLC, continues enrolling patients in the U.S. and globally; the company anticipates substantially completing enrollment this year.

The company remains on track to provide an update on its plans for advancing daraxonrasib combination therapy in 1L NSCLC this year.

Zoldonrasib in NSCLC

The company presented data at the AACR (Free AACR Whitepaper) Annual Meeting evaluating zoldonrasib monotherapy in patients with previously treated RAS G12D NSCLC, which demonstrated encouraging clinical activity and a generally well tolerated safety profile consistent with previously reported findings. The Phase 2 monotherapy expansion cohort in patients with previously treated NSCLC has fully enrolled to provide a more robust assessment of clinical activity and increased optionality.

The company remains on track to initiate RASolve 308, a randomized, placebo-controlled Phase 3 trial evaluating zoldonrasib in combination with standard of care as 1L treatment for patients with metastatic RAS G12D NSCLC, in the first half of 2026.

Elironrasib in NSCLC

The company remains on track to share an update on its registrational strategy for elironrasib, an innovative oral RAS(ON) mutant-selective inhibitor that binds selectively and covalently to RAS G12C, in 2026.

Colorectal Cancer (CRC)

The company is advancing multiple combination trials in colorectal cancer, including evaluations of RAS(ON) inhibitor doublets and combinations with standard of care and other investigational approaches.

The company remains on track to share updated combination data in CRC this year as it evaluates potential paths toward pivotal development.

Clinical Collaborations

The company’s development efforts continue to involve clinical collaborations studying its RAS(ON) inhibitors with other targeted therapies, including:

The APEX-103 trial, conducted in collaboration with Summit Therapeutics, Inc. (Summit), is ongoing, evaluating Revolution Medicines’ RAS(ON) inhibitors in combination with ivonescimab, Summit’s PD-1/VEGF bispecific antibody, across multiple solid tumor settings.
A clinical collaboration with Tango Therapeutics, Inc. (Tango) is ongoing, evaluating Revolution Medicines’ RAS(ON) inhibitors in combination with vopimetostat, Tango’s MTA-cooperative PRMT5 inhibitor, in patients with tumors carrying both a RAS mutation and MTAP deletion.
A clinical collaboration with Bristol Myers Squibb (BMS) is ongoing, evaluating daraxonrasib in combination with navlimetostat, BMS’ MTA-cooperative PRMT5 inhibitor, in patients with pancreatic cancer whose tumors carry both a RAS mutation and MTAP deletion.
Early-Stage Programs

RMC-5127

RMC-5127, an oral RAS(ON) G12V-selective inhibitor, is currently being evaluated in a first-in-human clinical trial, with patients actively enrolling in the dose escalation portion of the study. The company remains on track to identify a recommended monotherapy Phase 2 dose for this compound in the second half of 2026.

Innovative New Class of RAS(ON) Inhibitors

At the AACR (Free AACR Whitepaper) Annual Meeting the company presented preclinical data showing that RM-055, a representative compound from a novel class of mutant-targeted catalytic RAS(ON) inhibitors, demonstrated deep and durable antitumor activity, including in tumors with acquired RAS-dependent resistance, across RAS G12 PDAC, NSCLC and CRC preclinical models.

The company remains on track to initiate a first-in-human clinical trial of RM-055 in the fourth quarter of 2026.

Other Corporate Updates

In April 2026, the company strengthened its balance sheet with the closing of concurrent upsized public offerings of $1,725.0 million in common stock and $500.0 million in aggregate principal amount of 0.50% convertible senior notes due 2033, raising total gross proceeds of $2,225.0 million before deducting underwriting discounts, commissions and offering expenses.

In support of the company’s growing global commercialization capabilities, the company also recently appointed several leaders across the Japan and Asia Pacific (JPAC), and European regions: Neil MacGregor as senior vice president and general manager for JPAC, Tetsuo Endo as vice president and general manager of Japan, and Martin Voelkl as vice president and general manager of Germany.

Financial Highlights

First Quarter Results

Cash Position: Cash, cash equivalents and marketable securities were $1.9 billion as of March 31, 2026. In April 2026, the company received $2.1 billion in net proceeds from the April 2026 concurrent financings.

Stock-Based Compensation Expense: Stock-based compensation expense was $87.3 million for the quarter ended March 31, 2026, compared to $25.1 million for the quarter ended March 31, 2025. In the first quarter of 2026, the company updated its equity compensation program to introduce retirement benefits for employees who meet specific minimum age and service requirements. The modification of this program resulted in increased and accelerated recognition of stock-based compensation expense for eligible awards, including an incremental $44.6 million for the quarter ended March 31, 2026. As a result of this update, the company is increasing its estimates of full year 2026 stock-based compensation expense by approximately $80 million and now expects full year 2026 stock-based compensation expense to be between $260 and $280 million.

R&D Expenses: Research and development expenses were $344.0 million for the quarter ended March 31, 2026, compared to $205.7 million for the quarter ended March 31, 2025. The increase was primarily driven by higher clinical trial and manufacturing expenses for daraxonrasib and zoldonrasib, increased personnel-related costs due to additional headcount, and higher stock-based compensation expense related to changes in retirement provisions for equity awards and increased headcount.

G&A Expenses: General and administrative expenses were $101.3 million for the quarter ended March 31, 2026, compared to $35.0 million for the quarter ended March 31, 2025. The increase was primarily driven by higher stock-based compensation expense related to changes in retirement provisions for equity awards and increased headcount, higher personnel-related costs associated with additional headcount, increased commercial preparation activities, and higher administrative costs.

Net Loss: Net loss was $453.8 million for the quarter ended March 31, 2026, compared to net loss of $213.4 million for the quarter ended March 31, 2025.

Financial Guidance
Revolution Medicines is updating its full year 2026 GAAP operating expenses guidance to a range of $1.7 to $1.8 billion. The expected increase in 2026 GAAP operating expenses is due to higher projected non-cash stock-based compensation expense for full year 2026, now estimated to be between $260 and $280 million, as described earlier.

Webcast
Revolution Medicines will host a webcast this afternoon, May 6, 2026, at 4:30 p.m. Eastern Time (1:30 p.m. Pacific Time). To listen to the live webcast, or access the archived webcast, please visit: View Source Following the live webcast, a replay will be available on the company’s website for at least 14 days.

(Press release, Revolution Medicines, MAY 6, 2026, View Source [SID1234665196])

On May 6, 2026 Recursion (Nasdaq: RXRX) a leading clinical stage TechBio company decoding biology to radically improve lives, reported business updates highlighting strong continued pipeline execution, clinical progress and platform advancement, as well as financial results for its first quarter ended March 31, 2026.

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Recursion will host an earnings Call on May 6, 2026 at 8:00 am ET / 6:00 am MT / 1:00 pm BST from Recursion’s X, LinkedIn, and YouTube accounts giving analysts, investors, and the public the opportunity to ask questions of the company by submitting questions here: View Source

"We are seeing strong momentum and execution across our portfolio, with increasing evidence that our full stack platform can translate biological and chemical insights into differentiated clinical programs," said Najat Khan, Ph.D., Chief Executive Officer and President of Recursion. "Recent progress, including encouraging initial safety and PK data in REC-1245 and the first patient dosed in REC-4539, represents a growing set of proof points that demonstrate our ability to translate platform insights into clinical programs. This momentum reflects the strength of our end-to-end AI platform, with multiple differentiated internal and partnered programs advancing into and through the clinic."

Business Highlights

Favorable Safety and PK Data for REC-1245 (RBM39):

Preliminary safety and pharmacokinetic (PK) data from REC-1245, a potential first-in-class RBM39 degrader discovered and developed using Recursion’s platform, highlight early clinical progress for a novel approach to targeting cancer vulnerabilities linked to replication stress and DNA repair.

REC-1245 advanced from biological discovery to development candidate in 18 months, more than twice as fast as the industry average, demonstrating Recursion’s ability to identify novel targets and design differentiated molecules using its integrated AI-enabled platform.

Early data from the ongoing Phase 1/2 DAHLIA study show:
•REC-1245 was well-tolerated across select solid tumors (n=16)
•No dose-limiting toxicities (DLTs) have been observed to date, and the maximum tolerated dose has not yet been reached
•The majority of TRAEs were Grade 1 or 2, most common GI-related events were constipation, nausea, and vomiting
•Pharmacokinetic analysis demonstrates predictable, dose-dependent exposure across evaluated patients
•Pharmacodynamic assessments demonstrate target engagement
•Dose escalation is ongoing to determine the recommended Phase 2 dose for monotherapy expansion cohorts

Treatment-Related Adverse Event (TRAE)
Patients (n=16)
Patients with any TRAE 10 (62.5%)
Grade 1-2 9 (56.3%)
Grade 3 1 (6.2%)
Grade 4-5 0 (0.0%)

Continued Momentum for REC-4881 (MEK1/2):

REC-4881 is an allosteric MEK1/2 inhibitor being developed for familial adenomatous polyposis (FAP), a genetically defined disease driven by APC loss. Based on platform insights into MAPK pathway modulation in APC-deficient systems, REC-4881 represents a targeted approach to addressing the underlying biology of disease progression:

•Phase 2 positive proof-of-concept clinical data showed a median 43% reduction in polyp burden at Week 13, deepening to 53% at Week 25 following a treatment break, with 40% of patients demonstrating improvement in Spigelman stage, supporting a differentiated and durable profile in FAP.
•Safety was consistent with MEK1/2 inhibition, with mostly Grade 1–2 TRAEs, Grade 3 events in 15.8% of patients, no Grade ≥4 TRAEs, and commonly including dermatitis acneiform/rash and increased CPK.

Recursion has initiated FDA engagement to align on a potential registrational study design, with an update expected in the second half of 2026. Expansion of TUPELO to include patients aged 18+ to support a broader development strategy is also ongoing.

First Patient Dosed in REC-4539 (LSD1 inhibitor):

REC-4539, an AI-designed, LSD1 inhibitor, highlights early progress for a differentiated approach to targeting epigenetic drivers in cancer. In April, the first patient was dosed in the ENLYGHT Phase 1 clinical study for solid tumors, including small cell lung cancer (SCLC).

REC-4539 was precision designed to have a reversible mechanism and shorter predicted human half-life to address treatment-limiting platelet toxicity observed with other LSD1 inhibitors, enabling a potentially differentiated profile across solid tumors and hematologic malignancies.

The differentiated, CNS-penetrant development candidate was delivered in approximately 20 months through Recursion’s AI-native design platform, demonstrating the Company’s ability to rapidly translate platform insights into optimized clinical candidates.

For the rest of the portfolio, programs continue to progress as planned.

Expected upcoming milestones across Recursion’s wholly-owned pipeline:

•REC-4881 (MEK1/2):
◦Regulatory update expected in 2H26
◦Additional Phase 1b/2 clinical data expected in 1H27
•REC-1245 (RBM39): Additional Phase 1 dose escalation data expected in 2H26
•REC-7735 (PI3Kα H1047R) and REC-102 (ENPP1): IND-enabling studies ongoing; data-driven go/no-go decision on Phase 1 initiation expected in 2H26
•REC-617 (CDK7): Early Phase 1 safety and PK combination data expected in 1H27
•REC-3565 (MALT1): Early Phase 1 safety and PK monotherapy data expected in 1H27
•REC-4539 (LSD1): Early Phase 1 safety and PK monotherapy data expected in 2H27

Meaningful upcoming milestones across partnered discovery:

Recursion continues to advance partnered programs that leverage complementary strengths of the Recursion OS.

In AI-enabled chemistry, Sanofi and Recursion joint programs continue progressing toward development candidate designation and earlier-stage milestones over the next 12 months, including programs designed against challenging targets in immunology and oncology.

In AI-enabled biology, Recursion expects to continue jointly translating insights from its large-scale maps of biology delivered to Roche and Genentech into potential target validation milestones over the next 12 months. The maps, jointly built by Recursion, Roche and Genentech are disease-relevant high-content maps built at large scale, including a Neuron map generated from a subset of 1 trillion internally manufactured iPSC-derived neuronal cells and a Microglia map generated from more than 100 billion internally manufactured iPSC-derived microglial cells. Additionally, we are combining our phenomics dataset with Roche and Genentech’s proprietary transcriptomics data to build multi-modal maps designed to explore potential novel targets and pathways by systematically linking gene perturbations to cellular phenotypes

Recursion OS Advances: Driving platform innovations, grounded in impact

Full Stack AI-powered Platform: The Recursion Operating System (OS) is continuing to drive program development by integrating AI across multimodal biology, precision design, and next-generation clinical development—enabling faster, more efficient, and more innovative drug discovery and development from biology to insight, insight to molecule, and molecule to patient.

State of the Art Transcriptomics Models: Built to better connect Recursion’s proprietary perturbational biology with patient biology to find novel insights and medicines, the integration of these models help bridge the translation gap between what we see in the lab and what matters in disease:

•TxPert, recently featured in Nature Biotechnology, is a proof-of-principle model for predicting transcriptomic responses to perturbations. The model can generalize beyond its training data, including predicting responses to unseen single-gene perturbations, novel combinations, and known perturbations in new cell types—enabling more efficient hypothesis generation and experimental prioritization, and laying the foundation for Recursion’s Virtual Cell.
•TxFM, presented at the ICLR Workshop on Foundation Models for Science, is a transcriptomics foundation model designed to connect lab perturbations with patient biology within the Recursion OS. Trained on a large, curated dataset of public and proprietary data, it outperforms 16 leading foundation models and baselines, including models trained on datasets 10–100x larger. Beyond enabling target identification, mechanistic understanding, and patient stratification, TxFM’s superior batch correction and denoising drive operational efficiency—reducing experimental re-runs, enabling cross-experiment comparisons, and increasing the value of every sequencing dollar spent.

First Quarter 2026 Financial Results

•Cash Position: Cash, cash equivalents and restricted cash were $665.2 million as of March 31, 2026 compared to $753.9 million as of December 31, 2025. Based on current operating plans and with no additional financing, the Company continues to expect its cash runway to extend into early 2028.
•Revenue: Total revenue, consisting primarily of revenue from collaboration agreements, was $6.5 million for the first quarter of 2026, compared to $14.7 million for the first quarter of 2025. Roche revenue recognized was less in the current period due to the successful completion of certain project phases in the prior period.
•Research and Development Expenses: Research and development expenses decreased to $87.9 million for the first quarter of 2026, from $129.6 million for the first quarter of 2025. The decrease was primarily due to lower platform costs resulting from the timing of Tempus record purchases as well as lower costs due to improved operating efficiency. Specifically, the first quarter of 2025 included $27.1 million in non-cash expenses for the use of patient-centric multimodal oncology data within the Company’s R&D pipeline.
•General and Administrative Expenses: General and administrative expenses were $34.6 million for the first quarter of 2026 compared to $54.7 million for the first quarter of 2025. The decrease of $20.1 million relative to the three months ended March 31, 2025 was primarily driven by a decrease in salaries and one-time transaction costs incurred in the prior year.
•Net Loss: Net loss was $117.5 million for the first quarter of 2026, compared to a net loss of $202.5 million for the first quarter of 2025.
•Operational cash flows: Net cash used in operating activities was $81.1 million for the three months ended March 31, 2026, compared to net cash used in operating activities of $132.0 million for the three months ended March 31, 2025. The decrease in cash used in operating activities was primarily driven by operating efficiencies across the company and the strategic reprioritization of our clinical portfolio.
•Cash Operating Expense: Cash operating expense, excluding partnership inflows and transaction costs, for the three months ended March 31, 2026 was $85.1 million compared to $120.2 million for the three months ended March 31, 2025.

(Press release, Recursion Pharmaceuticals, MAY 6, 2026, View Source [SID1234665195])

On May 6, 2026 QIAGEN N.V. (NYSE: QGEN; Frankfurt Prime Standard: QIA) reported full results for the first quarter of 2026 in line with the preliminary announcement, showing QIAGEN continuing to deliver strong profitability as adjusted diluted earnings per share (EPS) achieved the outlook. Sales trends were mixed, as lower QuantiFERON sales and cautious U.S. Life Sciences customer demand offset solid growth in other areas of the portfolio.

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As announced April 27, net sales for Q1 2026 rose 2% on a reported basis to $492 million, while sales at constant exchange rates (CER) were down 1%, compared with the outlook for at least 1% CER growth. Adjusted diluted EPS CER of $0.54 CER was in line with the outlook for at least $0.54 CER.

QIAGEN’s growth pillars together grew 4% CER compared to Q1 2025. Sample technologies delivered 9% CER growth compared with Q1 2025, and 3% CER growth excluding the Parse acquisition, supported by demand for automated consumables and instrument placements. QIAcuity digital PCR delivered double-digit CER sales growth on higher consumables and instrument sales over the year-ago period. QIAGEN Digital Insights (QDI) posted solid single-digit gains led by clinical bioinformatics. QIAstat-Dx sales declined 1% CER as expected against tough prior-year results. QIAstat-Dx consumables sales rose despite a weaker respiratory season on double-digit CER growth from recently launched Gastrointestinal and Meningitis panels in the U.S., while QIAstat-Dx instrument placements continued at a good level.

QuantiFERON sales declined 5% CER from Q1 2025, mainly due to a significant decline in immigration testing demand in the United States and the Middle East. Trends remained solid in other patient testing groups. QIAGEN now expects QuantiFERON full-year 2026 sales to be unchanged at CER compared with 2025 sales of $503 million.

QIAGEN updated on April 27 its full-year 2026 outlook for net sales to grow about 1-2% CER (previously at least 5% CER growth), driven by headwinds from the reduced QuantiFERON immigration testing demand, sustained caution among U.S. Life Sciences customers and increased geopolitical uncertainty. Adjusted diluted EPS are now expected to be at least $2.43 CER (previously at least $2.50 CER).

"QIAGEN made important progress across many areas of the portfolio in the first quarter, led by solid sales growth in Sample technologies, QIAcuity and QIAGEN Digital Insights," said Thierry Bernard, Chief Executive Officer of QIAGEN. "QuantiFERON was affected by significant decline in immigration testing demand, but we view this as a rebasing of demand within this testing group during 2026 and not a change in the overall long-term opportunity for latent TB testing. We are focused on executing against our updated 2026 targets and positioning QIAGEN for faster growth in the second half of 2026."

"Our profitability for the first quarter reflected disciplined execution in a challenging environment, as we managed the impact of supporting portfolio investments, as well as headwinds from tariffs, currency movements and measures to ensure reliable product supply," said Roland Sackers, Chief Financial Officer of QIAGEN. "We are focused on delivering solid profitable growth through efficiency gains combined with disciplined capital allocation and targeted investments that strengthen QIAGEN’s long-term growth potential and create value for shareholders."

Please find the full press release incl. tables as a PDF for download at the top of this page.

QuantiFERON Spotlight Session on May 7, 2026

QIAGEN plans to hold a virtual Spotlight Session to provide insights into our strategic priorities for QuantiFERON and an update on the latest product enhancements. The online event, which is a new format that builds on the recent Deep Dives series, is scheduled for Thursday, May 7, 2026, at 15:30 Frankfurt Time / 14:30 London Time / 9:30 New York Time. Registration details and further information about the webcast are available in the Investor Relations section of the QIAGEN website (www.qiagen.com), under Events and Presentations (View Source), with a recording accessible after the event.

Use of adjusted results

QIAGEN reports adjusted results and constant exchange rate (CER) measures, along with other non-GAAP financial metrics, to provide deeper insight into business performance. These include adjusted gross margin and profit, adjusted operating income and expenses, adjusted operating income margin, adjusted net income, adjusted income before taxes, adjusted diluted EPS, adjusted tax rate and free cash flow. Free cash flow is calculated as cash flow from operating activities less capital expenditures for property, plant and equipment. Adjusted results are non-GAAP measures that QIAGEN views as complementary to GAAP-reported results. They exclude items considered outside of ongoing core operations, subject to significant period-to-period fluctuation, or that reduce comparability with competitors and historical performance. QIAGEN also uses these non-GAAP and constant currency measures internally for planning, forecasting, reporting and employee compensation purposes. These metrics enable consistent comparison of current and past performance, which QIAGEN has historically presented on an adjusted basis.

(Press release, Qiagen, MAY 6, 2026, View Source [SID1234665194])

On May 6, 2026 Perrigo Company plc (NYSE: PRGO) ("Perrigo" or the "Company"), a leading provider of Consumer Self-Care Products, reported financial results from continuing operations for the first quarter ended March 28, 2026.

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"Our first quarter results reflect tangible progress as we continue to transform Perrigo into a more focused, disciplined, and consistent business," said President and CEO Patrick Lockwood-Taylor. "Despite a challenging operating environment, we are advancing a clear plan to address the factors within our control. Our Three‑S plan and shift to a category‑led operating model are strengthening execution and accountability, and the momentum we are seeing in areas such as U.S. Store Brand and Women’s Health are encouraging. We also continue to simplify and streamline the organization through disciplined portfolio actions, including the sale of our Dermacosmetics business, with proceeds expected to be used to support debt reduction.

"We are maintaining our full‑year guidance, supported by clear, quantifiable factors expected to drive improvement in the second half of the year. We recognize that the environment is dynamic, and we are monitoring potential impacts related to geopolitical developments in the Middle East and retailer inventory destocking. Against this backdrop, we are well-positioned to deliver on our 2026 outlook while building a foundation for long-term growth."

First Quarter Results
As announced last quarter, the Company now reports results on both an All In and Core Perrigo basis. All In results reflect the entirety of our business, while Core represents our go-forward business and excludes Infant Formula and previously announced divestitures.

All In

Core

1Q’26

1Q’25

Change

1Q’26

1Q’25

Change

Reported Net Sales

$969

$1,044

(7.2) %

$842

$918

(8.3) %

Reported Gross Margin

33.6 %

37.6 %

(400)bps

Reported Operating Margin

(38.4) %

4.5 %

n/m

Reported Diluted Earnings Per Share
("EPS")

$(2.81)

$0.00

n/m

All In

Core

1Q’26

1Q’25

Change

1Q’26

1Q’25

Change

Organic Net Sales(1)

$939

$1,042

(9.9) %

$817

$918

(11.0) %

Adj. Gross Margin

37.6 %

41.0 %

(340)bps

39.2 %

40.8 %

(160)bps

Adj. Operating Margin

11.6 %

14.0 %

(240)bps

12.8 %

13.9 %

(110)bps

Adj. Diluted EPS

$0.43

$0.60

(28.3) %

$0.40

$0.50

(20.0) %

(1) See attached Appendix for details. Change in net sales on an organic basis excludes the effects of acquisitions, divestitures and exited products, and the impact of currency.

(2) Share gains according to Circana 13-weeks ending 03/29/26 vs. prior year period in the categories where Perrigo participates in cough cold, allergy, digestive health, pain, nicotine replacement, skin care, and women’s health.

(3) All tables and data may not add due to rounding. Percentages are based on actuals.

Net Sales

Core net sales were $842 million, declining 8.3% year over year, while Core organic net sales decreased 11.0%. Core organic results primarily reflect lower consumption across both the U.S. and Europe. Reduced consumption was driven in part by lower seasonal incidence of cough and cold versus the prior year, which was an approximately 3.5% net sales headwind, and also led to lower retailer inventory levels, creating an additional net sales headwind of approximately 3.0%. These factors were partially offset by continued market share gains, supported by innovation launches and performance of Women’s Health products. Core organic net sales comprised net pricing of 0.2% and volume/mix of -11.0%.
All In reported net sales declined 7.2% year over year to $969 million. The decrease was driven by the same factors impacting Core net sales, partially offset by Infant Formula net sales growth.
Gross Margin

Reported gross margin was 33.6%, a decrease of 400 basis points versus the prior year due to the impact of prior-year manufacturing volume headwinds in Infant Formula and U.S. OTC, and lower net sales volumes, primarily within our Self Care reporting segment, partially offset by the net recognition of a recovery of a portion of previously paid tariffs of approximately $21 million.
Core adjusted gross margin decreased 160 basis points to 39.2% driven by lower net sales volumes, the carryover impact of prior-year manufacturing volume headwinds in U.S. OTC, and unfavorable mix. These factors were partially offset by the net recognition of a recovery of a portion of previously paid tariffs and favorable currency translation.
All In adjusted gross margin decreased 340 basis points to 37.6%, driven by the same factors impacting Core adjusted gross margin in addition to prior year manufacturing volume headwinds in Infant Formula.
Operating Margin

Reported operating margin was (38.4)% compared to 4.5% in the prior-year due to the $330.8 million goodwill impairment charge.
Core adjusted operating margin decreased 110 basis points to 12.8% primarily due to unfavorable gross margin. This decline was partially offset by reduced advertising and promotional expense, primarily from planned lower Opill investment levels, benefits from the Operational Enhancement Program, and favorable currency translation.
All In adjusted operating margin decreased 240 basis points to 11.6%, primarily driven by the same factors impacting Core adjusted operating margin in addition to the impact from Infant Formula.
Other Items

Reported net interest and other expense decreased $2.4 million to $36.2 million due to the hedging of expected proceeds in Euro from the Dermacosmetics business sale.
Net adjusted interest and other expense increased $5.0 million to $42.9 million due to lower interest income compared to prior year.
The Company’s reported effective tax rate was 4.6%. The Company’s adjusted effective tax rate decreased 790 basis points to 15.5%, primarily due to the release of reserves for uncertain tax positions in 2026.
Diluted EPS

Reported diluted EPS was $(2.81) due primarily to the $330.8 million goodwill impairment charge.
Core adjusted EPS declined 10 cents to $0.40, a 20.0% decrease from the prior year.
All In adjusted diluted EPS declined 17 cents to $0.43, a 28.3% decrease from the prior year.
Business Segment Results

1Q’26

1Q’25

Change

Organic
Change

Segment net sales:

Self Care

$543

$614

(11.5) %

(14.0) %

Specialty Care

207

199

4.0 %

(0.8) %

Infant Formula

90

88

2.1 %

1.9 %

Total segment net sales

840

901

(6.8) %

(9.5) %

All Other

129

143

(9.5) %

(11.8) %

Consolidated net sales

$969

$1,044

(7.2) %

(9.9) %

1Q’26

1Q’25

Change

Segment operating income:

Self Care

$68

$113

(39.3) %

Specialty Care

55

42

31.4 %

Infant Formula

(7)

11

n/m

Total segment operating income

$116

$165

(29.7) %

All Other

32

21

52.1 %

Unallocated

(35)

(40)

(11.2) %

Consolidated adjusted operating
income

$113

$147

(23.0) %

Self Care
Net sales decreased 11.5% compared to the prior year, inclusive of a 2.8% favorable impact of currency translation. The decline was driven by lower consumption in the U.S. and Europe, partly reflecting reduced seasonal incidence of cough and cold versus the prior year. This lower incidence pressured sales in the Upper Respiratory and Pain & Sleep categories, accounting for a significant portion of the segment’s net sales decline. The remaining decline reflected softer consumption in the Digestive Health and Healthy Lifestyles categories. Reduced consumption also led to lower retail inventory levels across the segment. These factors were partially offset by continued market share gains in the U.S. and Europe. Notably, Perrigo U.S. store brand OTC volume share2 increased 100 basis points.

Segment operating income decreased 39.3%, due primarily to the impact of prior-year manufacturing volume headwinds, lower net sales volumes, and unfavorable mix. These factors were partially offset by the net recognition of a recovery of a portion of previously paid tariffs in addition to favorable currency translation.

Specialty Care
Net sales increased 4.0%, inclusive of a 4.8% favorable effect of currency translation, driven by growth in the Women’s Health category, particularly continued momentum from Opill and ellaOne. This growth was partially offset by Skin Health results as lower store brand sales of Minoxidil at one customer were partially offset by share gains in Compeed and Jungle Formula.

Segment operating income increased 31.4% as lower advertising and promotional spend, including planned lower Opill investment levels, favorable currency translation, and the net recognition of a recovery of a portion of previously paid tariffs more than offset the impact of prior-year manufacturing volume headwinds and unfavorable mix.

Infant Formula
Net sales increased 2.1%, inclusive of a 0.3% favorable effect of currency translation, driven by growth in contract infant formula. This growth was partially offset by lower net sales in store brand and branded infant formula due to tougher prior‑year comparisons, including elevated sales from customer inventory replenishment.

Segment operating income decreased primarily due to unfavorable gross profit flow through from prior-year manufacturing volume headwinds, partly offset by lower operating expenses.

All Other
Net sales decreased 9.5%, inclusive of a 2.4% favorable effect of currency translation, driven in part by reduced distribution of lower-margin products.

Segment operating income increased 52.1% due to the net recognition of a recovery of a portion of previously paid tariffs, favorable mix in the Oral Care category, and lower operating expenses.

Cash Flow and Balance Sheet

First quarter 2026 cash for operating activities decreased $49 million to an outflow of $114 million due to lower earnings and higher working capital, in line with the Company’s expected full‑year cash flow phasing.
First quarter capital expenditures were $14 million and the Company returned $40 million to shareholders through dividends.
Cash and cash equivalents as of March 31, 2026, were $357 million while total debt was $3.6 billion.
After quarter end, the Company completed the sale of its Dermacosmetics business for total consideration of up to €332.6 million. The transaction consists of €305.6 million in upfront cash, including €5.6 million in net working capital adjustments, and up to an additional €27.0 million contingent on the achievement of net sales milestones over the next three years.
Fiscal 2026 Outlook

The Company reaffirms its 2026 outlook. Second-half results are expected to benefit from previously stated growth initiatives, the Operational Enhancement Program, and lapping of prior-year category consumption and manufacturing volume headwinds. As indicated last quarter, prior-year manufacturing volume headwinds are expected to result in an unfavorable All In EPS impact of approximately $0.60 in 2026. The Company experienced roughly $0.26 of that impact in the first quarter. The Company continues to closely monitor potential impacts from geopolitical developments in the Middle East. The Company is also monitoring retailer inventory levels and expects stabilization as consumption trends improve.

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All In

Ex Infant
Formula

Ex

Divestitures

Core

Foreign
Currency

Organic
Core

Net Sales Growth

(5.5)% to (1.5)%

—

~270 bps

(3.0)% to +1.0%

(0.5) %

(3.5)% to +0.5%

Adj. Gross Margin

36.5% to 37.5%

~240 bps

~(10) bps

39.0% to 40.0%

Adj. Operating Margin

12.5% to 13.5%

~260 bps

~(10) bps

15.0% to 16.0%

Adj. EPS

$2.00 to $2.30

~$0.30

~$(0.05)

$2.25 to $2.55

Other assumptions

Net interest expense of approximately $156 million.
Adjusted effective tax rate of approximately 20.0%.
Adjusted weighted average shares outstanding of approximately 140.5 million.
Net leverage of, or slightly lower than, approximately 4.0 times adjusted EBITDA.
Cash from operating activities as a percentage of adjusted net income in the mid-60% range.
Webcast and Conference Call Information

Perrigo previously announced that management will host a call/webcast to discuss its first quarter 2026 financial results beginning at 08:30 A.M. (EST) Wednesday, May 6, 2026. The call will be available live via webcast to interested parties in the investor relations section of the Perrigo website at View Source or by phone at 800-836-8184, International 646-357-8785, and reference ID # 82404. A taped replay of the call will be available beginning at approximately 12:00 P.M. (EST) Wednesday, May 6, until midnight Wednesday, May 13, 2026. To listen to the replay, dial 888-660-6345, International 646-517-4150, and use access code 82404#.

(Press release, Perrigo Company, MAY 6, 2026, View Source [SID1234665193])