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  "GOOGL (Alphabet Inc.)": {
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    "news": [
      {
        "website": "https://finance.yahoo.com/news/chinese-chatgpt-rival-mobvoi-picks-013808866.html",
        "content": "Yahoo Finance Chinese ChatGPT Rival Mobvoi Picks Banks for $300 Million Hong Kong IPO, Sources Say Show Ad    (Bloomberg) -- Mobvoi, a Chinese artificial intelligence company and smart device maker, has selected banks for a Hong Kong initial public offering that could raise about $200 million to $300 million, according to people familiar with the matter. Most Read from Bloomberg Vanguard\u2019s Trillion-Dollar Man Leads a Fixed-Income Revolution Trump Liable for Sex Abuse, Must Pay $5 Million to Carroll Steve Schwarzman Holds Off Giving Money to DeSantis After Meeting Him Italy Intends to Exit China Belt and Road Pact as Relations Sour George Santos Faces Criminal Charges by US Justice Department The Beijing-based firm, which last month debuted its own AI large language model, is working with China International Capital Corp. and China Merchants Bank International to prepare for the first-time share sale, said the people. The IPO could take place as soon as this year, they said, asking not to be identified as the information is private. Considerations are preliminary and details of the offering such as size and timing could change, the people said. A representative for CICC declined to comment, while CMBI and Mobvoi didn\u2019t immediately respond to requests for comment. With the early success of OpenAI Inc.\u2019s ubiquitous chatbot, AI companies in China are rushing to roll out their own answers to ChatGPT and seeking more funding to fuel the sector\u2019s growth. Beijing\u2019s top internet overseer has published draft guidelines that would mandate a security review of generative AI services such as Mobvoi\u2019s Xulie Houzi platform as well as models from Baidu Inc. and SenseTime Group Inc. Read More: China AI Stocks Frenzy Loses Steam as Earnings Doubts Creep In Founded in 2012 by a group of former employees of Alphabet Inc.\u2019s Google, Mobvoi three years later attracted the US tech giant\u2019s first direct investment in China since it withdrew its search engine from the country in 2010. Mobvoi is known to consumers as a maker of products including smartwatches and smart speakers, its website shows. Its AI software is used in services including finance, telecommunications and senior care. Along with a strategic partnership with Alphabet, Mobvoi also drew Volkswagen AG as an investor and partner via a 2017 funding round and the forming of a joint venture. It also counts Sequoia and Zhenfund as backers. Mobvoi has roughly 700 employees and has offices in Seattle and Taipei in addition to its headquarters in Beijing, the website shows. Most Read from Bloomberg Businessweek Why Launch Rockets When You Can Just Fling Them Into Space? Biden Administration Tamps Down Talk of US-China Decoupling Even $500 Million a Year From Google Isn\u2019t Enough to Save Firefox AI Drug Discovery Is a $50 Billion Opportunity for Big Pharma Webtoons Are South Korea\u2019s Latest Viral Cultural Export \u00a92023 Bloomberg L.P.    Related Quotes",
        "score": 5.459797808012094
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      {
        "website": "https://finance.yahoo.com/m/4ce7fd18-8b7f-3c74-a4e4-701092f84bb7/ai-will-create-%E2%80%98a-serious.html",
        "content": "Yahoo Finance AI will create \u2018a serious number of losers\u2019, DeepMind co-founder warns Show Ad    Mustafa Suleyman says governments should think about how to support workers who lose their jobs to technology   ",
        "score": 3.666666666666667
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      {
        "website": "https://finance.yahoo.com/news/tech-earnings-featured-more-stock-buybacks--heres-what-that-means-for-investors-205638384.html",
        "content": "Yahoo Finance Tech earnings featured more stock buybacks \u2013 here's what that means for investors Show Ad    Share repurchases, or stock buybacks, have appeared over and over in tech companies' earnings this year. But they might be misunderstood, according to Cornell University assistant professor Nick Guest. \"Our main takeaway is that share buybacks don't create or destroy a lot of wealth,\" Guest told Yahoo Finance Live (video above). \"So you might wonder, 'Well, why are companies repurchasing on track for more than $1 trillion this year?' The benefits seem to be an opportunity for management to signal that they believe the stock is undervalued.\" There are plenty of criticisms of buybacks, including that companies use them to manipulate their share prices. But those criticisms haven't been necessarily proven by the data, according to Guest. \"Some argue they're associated with excessive executive compensation and that companies that buy back don't have as much cash available to take advantage of investment opportunities, thereby sacrificing growth and ultimately profitability,\" he said. \"But our evidence comparing both companies that repurchased and companies that don't repurchase shares didn't find any large-scale, on average, evidence of those things.\" Some of the biggest buyback news of this earnings cycle came from Alphabet (GOOG, GOOGL). If Google's $70 billion buyback announcement seems big, it is \u2014 sort of, VerityData analyst Ali Ragih said. \"$70 billion is slightly large for them, but not when you compare and adjust market-wide,\" he said. \"The best way to think about $70 billion is to compare against the market cap because you can better normalize market-wide. $70 billion is equal to 5.2% of the market cap at Google.\" Likewise, Apple (AAPL) also announced it would buy back $90 billion in stock this week. So why do these companies do stock buybacks? \"Repurchases have more flexibility than dividends,\" Guest said. \"They're easier to temporarily cut during downtime, and repurchasing shares reduces the amount of cash that could be misused on management's pet projects.\" Another reason, Guest added, is that \"managers and others \u2014 the board, for example \u2014 can use repurchased shares to compensate employees. So those seem to be the benefits, as opposed to improving long-term profitability or creating additional investment opportunities.\" It's worth doing buybacks when management thinks the company's valuation is low, Ragih said. \"The best time to do a buyback is when the valuation is low because companies get the most bang for their buyback,\" he told Yahoo Finance. \"If Google spends $15 billion, they\u2019d want to get the most amount of shares for that $15 billion \u2013 lower stock price will get them more shares for the same overall dollar value of spend.\" It's even more worthwhile if the company in question has the cash, which Alphabet does, Ragih added. \"Google has a high amount of free cash flow and not much else to spend it on, so it\u2019s appropriate to return cash to shareholders,\" he said. \"To boil it down, after they pay for organic investments, they still have a lot of cash left each quarter. The cash balance is about $100 billion so they defer to buybacks.\" However, buyback backlash has increased in recent years. Critics say that they enrich companies and executives without improving the overall economy. So over time, shareholders may see fewer buybacks if that trend continues. \"If the disincentives increase \u2014 for example, if we get this 4% tax or other limits on what managers can do in terms of selling their own shares after the company has bought back shares, and other potential restrictions \u2014 then some firms might decide to retain the cash instead or switch to dividends, which both could have negative consequences,\" Guest said. \"For example, dividends, as we know, are taxed as income tax, ... whereas repurchases typically generate a capital gain. So that could create some additional costs for shareholders.\" Allie Garfinkle is a Senior Tech Reporter at Yahoo Finance. Follow her on Twitter at @agarfinks and on LinkedIn. Click here for the latest technology business news, reviews, and useful articles on tech and gadgets Read the latest financial and business news from Yahoo Finance    Related Quotes",
        "score": 5.912264097558215
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      {
        "website": "https://finance.yahoo.com/video/wendys-google-preview-partnership-ai-205440386.html",
        "content": "Yahoo Finance Wendy's, Google preview partnership with new AI-powered drive-thru Show Ad    Yahoo Finance culinary correspondent Brooke DiPalma joins the Live Show to discuss the partnership between Wendy's and Google to revolutionize drive-thru orders with the use of AI technology, first premiering in Columbus, Ohio in June of this year, and how AI is transforming the restaurant industry. SEANA SMITH: Wendy's is partnering with Google Cloud to bring AI to its drive throughs. Now, this is called Wendy's Fresh AI. The pilot kicks off in June in Columbus, Ohio area at a company operated restaurant. Brooke DiPalma is here with those details. Brooke, it sounds exciting. BROOKE DIPALMA: Good afternoon. It certainly does sound exciting. Pretty interesting here. I'm eager to see how exactly it works, but as you noted this is one of the first partnerships that have come out of this collaboration between Google Cloud and Wendy's. That partnership began in 2021. This is called Wendy's Fresh AI. The first pilot of Wendy's Fresh AI sets launch in June in Columbus, Ohio near its headquarters in Dublin, Ohio. Now, in addition to that, the company wants you to know that the AI technology has the ability to understand made to order requests, which they say includes billions of different combinations. For example, if a customer asks for a large milkshake, this technology will know that they're asking for a frosty. In addition to that, they said that it'll be as natural as interacting with employees. Eager to see if customers think so as well. And in this pilot customers can expect a female voice. Now, what you also need to know is that Wendy's expects here to improve speed, accuracy, and consistency with this automated technology. And based on this pilot, Wendy's is looking for a few key things in addition to that drive-through speed. The customer is also taking a closer look at order averages. They hope to see a boost in sales with upselling opportunities that the AI technology will offer like larger sizes, asking customers perhaps if they want a frosty with their orders, in addition to daily specials. And this comes as drive-through remains a key opportunity for Wendy's. About 75% to 80% of Wendy's customers prefer drive-thru now, Seana, that's a big jump compared to roughly 2/3 before the COVID 19 pandemic. And Wendy's hoping to be not only a game changer here, but a leader in AI technology and the drive-thru. SEANA SMITH: It certainly makes sense. It certainly seems like that with the recent moves there. When it comes to AI, we talk about how so many companies are talking about it on their earnings releases. It sounds like Wendy's isn't the only food company and not the only fast food chain that's incorporating AI. Who are some of the others? BROOKE DIPALMA: Right, certainly not alone in that. In fact, this is probably the top, if not the topic of this earnings season. I mean, we heard McDonald's mention it in their earnings call, but in addition to that, they also teamed up with IBM back in 2021 to further accelerate and to development and deployment of their automated voice ordering technology. We've heard some customer feedback about the accuracy of it. A bit of a rough start there. Wingstop in March partnered with AI voice startup Converse. Now they're running a pilot where they're using voice AI powered virtual assistants to take customers' phone orders at select locations. We're also seeing Yum Brands using recommended ordering to understand how much food is needed at restaurants. And Chipotle using AI for kitchen management to streamline operations. They also introduced Chippy the robot and what they call an AI kitchen assistant to make chips. Chipotle's CFO also weighed in on the opportunity saying that it is taking a well thought out approach. Take a listen. JACK HARTUNG: There's a lot of possibilities. There's also a lot of pitfalls as well. So we want to be very careful, very thoughtful. But, certainly, if there's ways we can make the job that our crews do, the jobs that our support staff do to support a restaurant easier and better and if the end result is we can run better restaurants and serve the customers in a better way, we're certainly going to look at any technology. BROOKE DIPALMA: And, of course, this earnings season is not over yet. There's more food companies set to report later on this week, including Wendy's before the bell on Wednesday. We also have Cheesecake Factory after the bell on Wednesday in addition to Krispy Kreme Thursday before the bell. And so certainly something to look out for, something that we've heard not only from food chains, but also PepsiCo, Coca-Cola, looking to get into the mix here. And so something for investors and also Main Street to look out for. Perhaps, you'll be ordering your drive-thru a little bit different in the near future. SEANA SMITH: All right, Brooke. Exciting stuff. Thanks so much.    Related Quotes",
        "score": 5.7644537054984815
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      {
        "website": "https://finance.yahoo.com/news/leaked-google-memo-raises-questions-200915601.html",
        "content": "Yahoo Finance A leaked Google memo raises questions about open source A.I. But the White House doesn\u2019t seem to have gotten it Show Ad    It was another big week of A.I. news. The White House summoned the heads of four technology companies working on cutting-edge A.I. to a meeting with Vice President Kamala Harris to discuss potential regulation. President Joe Biden dropped by the meeting to issue an on-camera warning to the assembled executives that \u201cwhat you\u2019re doing has enormous potential and enormous danger.\u201d He also said he was sure the executives were aware of this and that he hoped they could \u201ceducate us as to what you think is most needed to protect society.\u201d More from Fortune:  5 side hustles where you may earn over $20,000 per year\u2014all while working from home Looking to make extra cash? This CD has a 5.15% APY right now Buying a house? Here's how much to save This is how much money you need to earn annually to comfortably buy a $600,000 home A summary of the meeting later provided by the White House said that the executives and Harris had \u201ca frank and constructive discussion\u201d on the need for the companies to be more transparent about their A.I. systems, the importance of there being a way to evaluate and verify the safety, security, and performance of this software, and the need to secure the systems from malicious actors and attacks. The White House also used the occasion to announce several new initiatives, including $140 million in funding to establish seven new National A.I. Research Institutes, a major red-teaming exercise where seven major A.I. companies will voluntarily submit their A.I. models to probing by independent security, safety, and ethics researchers at the DEFCON 31 cybersecurity conference in August, and a policymaking effort from the Office of Management and Budget that will result in guidelines for how the U.S. federal government will use A.I. software. What got the most attention, however, is who was in the room\u2014and who wasn\u2019t. Meeting with Harris were the CEOs of Microsoft, Google, OpenAI, and Anthropic. (Google DeepMind\u2019s Demis Hassibis also looked to be there from the video clip of Biden addressing the group.) When asked why only these companies, and not others, were present, the White House said it wanted to meet with the \u201cfour American companies at the forefront of A.I. innovation.\u201d Many read that as a burn on Mark Zuckerberg\u2019s Meta, which has invested heavily in A.I. technology and research, but, unlike the companies meeting with Harris, has not integrated the technology into a consumer-facing do-it-all chatbot, as well as Amazon and Apple, both of which are perceived as lagging in A.I. development. But there were a lot of other players absent: Nvidia is participating in the red-teaming exercise at DEFCON 31 but wasn\u2019t invited to the White House. Yet it\u2019s an American company, its chips are a linchpin of the current generative A.I. boom, and it is also building its own large language models. What about Cohere (which is technically Canadian) but is also building very large language models, with financial backing and close support from Google? There also were no representatives from the fast-growing open-source A.I. ecosystem, most notably Hugging Face and Stability AI, both of which are also participating in the DEFCON 31 exercise. Stability is a British company, but Hugging Face is incorporated in the U.S., and its CEO and cofounder, Clem Delangue, although French, lives in Miami. The open-source models these companies are building (and hosting in the case of Hugging Face) are being used by thousands of businesses and individual developers. They are rapidly matching the capabilities of the systems built by OpenAI, Microsoft, and Google. These open-source players really ought to be \u201cin the room where it happens\u201d if the Biden Administration is serious about grappling with A.I. and its risks. Arguably, the dangers with open-source software are greater than with the private models the big tech companies are building and making available through APIs: While is often easier to find security vulnerabilities or safety flaws with open-source software, it is also much easier for those with ill-intentions, or simply a cavalier attitude towards potential risks, to use these models however they want. If you wanted to create a malware factory, it would make more sense to download an open-source language model like Alpaca from Hugging Face than rely on OpenAI\u2019s API. OpenAI could always cut off your access if it discovered your operation. People are also already using open-source software to turn LLMs into nascent agents that can perform actions across the internet. Regulating the open-source A.I. world is a much, much bigger challenge than slapping limits on companies like Microsoft and Google. But any serious effort to govern advanced A.I. is going to have to figure out what to do about open-source. Which brings me to another very interesting bit of A.I. news from last week: that allegedly leaked Google \u201cWe have no moat\u201d memo. Google has neither confirmed nor denied the memo\u2019s legitimacy, but it seems likely to be genuine. The reason it leaked when it did, the same day as the White House meeting, is indeed suspect. (Since it makes the case that Google\u2019s A.I. tech is increasingly being matched, if not superseded in some respects, by open-source alternatives and thus might bolster arguments that the \u201cbig four\u201d called to the White House should not be singled out for any regulatory action.) The leaked memo does a good job of laying out some of the problems with the ultra-large generative A.I. models that Google, Microsoft, and OpenAI have been building their products around: The open-source community has quickly sussed out clever and innovative ways to mimic their performance with smaller models trained at a fraction of the cost, both financial and in terms of energy and carbon footprint. These models often run much faster and allow users to keep any proprietary data private. All of which means these open-source A.I. Ford Focuses and Volkswagens may be preferred, especially by large enterprise customers, over big tech\u2019s A.I. Cadillacs and Rolls Royces. The open source community has also, as the memo\u2019s anonymous author notes, not gotten hung up around sensitivities concerning \u201cresponsible release\u201d\u2014it just puts stuff out there as fast as possible. But as Emad Mostaque, Stability cofounder and CEO, tweeted, the memo\u2019s author doesn\u2019t seem to actually understand the concept of \u201cmoats\u201d as applied to business strategy. In business, moats are only rarely about a core technology. They are more often around a product\u2014which includes UX as well as feature sets\u2014data, location, convenience, customer service, and brand. Mostaque reckons that OpenAI, Microsoft, and Google still have some big advantages in most of those areas that will be hard for others to match. One thing about serving proprietary models through APIs is that they are much easier for companies with less technical expertise to implement and maintain than open-source models are. The plugins that OpenAI has created for ChatGPT also make that product very sticky, as Mostaque points out. One thing I think the leaked memo probably does capture accurately, at least in its tone, is the sense of pure panic within Google over the sudden challenge to its position at the forefront of A.I. technology. Tomorrow, Google will unveil a host of new A.I. product enhancements at its annual Google I/O developer conference that will constitute a big part of its effort to fight back. We\u2019ll see how successful it is in being able to recalibrate perceptions about its place in the A.I. arms race. Jeremy Kahn@jeremyakahnjeremy.kahn@fortune.com This story was originally featured on Fortune.com More from Fortune: 5 side hustles where you may earn over $20,000 per year\u2014all while working from homeLooking to make extra cash? This CD has a 5.15% APY right nowBuying a house? Here's how much to saveThis is how much money you need to earn annually to comfortably buy a $600,000 home    Related Quotes",
        "score": 5.7507120072909546
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      {
        "website": "https://finance.yahoo.com/news/eu-draft-rules-propose-tougher-195533539.html",
        "content": "Yahoo Finance EU draft rules propose tougher cybersecurity labelling rules for Amazon, Google, Microsoft Show Ad    By Foo Yun Chee BRUSSELS (Reuters) - Amazon, Alphabet's Google, Microsoft and other non-European Union cloud service providers looking to secure an EU cybersecurity label to handle sensitive data can only do so via a joint venture with an EU-based company, according to an EU draft document seen by Reuters. U.S. tech giants and others involved in the joint venture can only have a minority stake, and employees that have access to EU data would have to undergo specific screening and have to be located in the 27-country bloc, the document said. The document adds the cloud service must be operated and maintained from the EU, and all cloud service customer data stored and processed in the EU and that EU laws take precedence over non-EU laws regarding the cloud service provider. The latest draft proposal from EU cybersecurity agency ENISA concerns an EU certification scheme (EUCS) that would vouch for the cybersecurity of cloud services and determine how governments and companies in the bloc select a vendor for their business. While the new provisions underscore EU concerns of interference from non-EU states, they are likely to spark criticism from U.S. tech giants worried about being shut out from the European market. Big Tech is looking to the government cloud market to drive growth in the coming years while a potential boom in AI after the viral success of OpenAI's ChatGPT could also boost demand for cloud services. \"Certified cloud services are operated only by companies based in the EU, with no entity from outside the EU having effective control over the CSP (cloud service provider), to mitigate the risk of non-EU interfering powers undermining EU regulations, norms and values,\" the document said. \"Undertakings whose registered head office or headquarters are not established in a ember State of the EU shall not, directly or indirectly, solely or jointly, hold positive or negative effective control of the CSP applying for the certification of a cloud service,\" it said. The document said the tougher rules will apply to personal and non-personal data of particular sensitivity where a breach may have a negative impact on public order, public safety, human life or health, or the protection of intellectual property. The latest draft could fragment the EU single market as each country has full discretion to impose the requirements whenever it sees fit, an industry source said. The U.S. Chamber of Commerce has previously said that the plan puts U.S. companies on an unequal footing. The EU says the moves are necessary to protect the bloc's data rights and privacy. EU countries will review the draft later this month after which the European Commission will adopt a final scheme. (Reporting by Foo Yun Chee; Editing by Aurora Ellis)    Related Quotes",
        "score": 5.482055107055107
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      {
        "website": "https://finance.yahoo.com/news/google-io-2023-what-to-expect-during-googles-huge-developer-event-180510466.html",
        "content": "Yahoo Finance Google I/O 2023: What to expect during Google\u2019s huge developer event Tuesday, May 9, 2023 Google (GOOG, GOOGL) will host its annual I/O developers conference at the Shoreline Amphitheater in Mountain View, CA, on Wednesday. And you can bet CEO Sundar Pichai will have plenty to say about Big Tech\u2019s latest obsession: generative AI. Google is an AI juggernaut for sure. But the company\u2019s recent stumbles, namely its botched unveiling of its Bard chatbot and slow rollout of generative AI capabilities across its various products, have the tech giant playing catchup to arch rival Microsoft (MSFT) and its own Bing chatbot. And the push to change that should kick off in earnest at I/O. \u201cWhat I would anticipate from Google I/O is a very strong generative AI-forward message where Google re-seizes the mantle for AI leadership\u2026and you will likely see announcements specifically focused on that,\u201d Gartner Analyst Chirag Dekate told Yahoo Finance. Google has already made its own generative AI product announcements to combat Microsoft\u2019s Bing. Bard, Google\u2019s chatbot, is available to select trusted users, and the company is rolling out waitlist invites to people who want to get access to generative AI features in its Google Workspace productivity suite. You should expect to hear plenty of other announcements tied to both of those products. \u201cI would not be surprised if Google announced that it's expanding those features to Google Sheets or to Google Slides, or to make them more generally available to the masses not trusted trusted testers,\u201d Forrester Analyst Nikhil Lai told Yahoo Finance. \u201cGoogle, I think, bungled its launch of Bard. The stock tumbled when they fumbled that launch and the inaccuracy of Bard has been problematic,\u201d Lai said. \u201cWhen when users sign into Bard it talks about the limitations...so I think we'll see some enhancements there.\u201d It\u2019s not just about Bard and Workspace, though. Google will likely announce new generative AI features across its product lines including its all-important search engine. According to The New York Times, Google is developing a new feature for its search engine that will allow users to interact with an AI bot. The initiative, codenamed Magi, would also include more visual responses and posts from social media sites. Google\u2019s search business powers the company\u2019s massive advertising division, which generates the bulk of its $283 billion in revenue in 2022. Any changes to its search product are a risky endeavor, but with Microsoft\u2019s Bing already bringing AI chatbots to search, Google has to respond. \u201cThe good news is I think the market is headed where Google has been traditionally quite strong,\u201d Dekate explained. \u201cGoogle has always been, ever since its inception\u2026an AI-centric company. The only problem is that Google has not spoken a lot about what they've been doing in generative AI for the longest time.\u201d That should change at I/O, though, as the company looks to put its generative AI chops on full display. But Google isn\u2019t just expected to roll out AI apps and services. The company will also show off its Pixel Fold smartphone. We already got a look at the foldable handset thanks to a teaser Google posted of the phone last week. Like Samsung\u2019s Galaxy Z Fold 5, the Pixel Fold features a cover display and a foldable internal display that opens up into a larger tablet-style screen. There appears to be a three camera setup on the back of the phone, suggesting it\u2019ll sport telephoto, ultra-wide angle, and wide angle lenses. According to CNBC, the Pixel Fold will cost upwards of $1,700. Google is also expected to debut a new entry-level smartphone called the Pixel 7A. According to CNET, the phone, which is a low-cost version of last year\u2019s Pixel 7, will get many of its stablemate\u2019s features and cost $499. There\u2019s also reportedly a Pixel Tablet in the works. And you can likely expect to get a glimpse at Google\u2019s upcoming Android 14 and maybe even its next-generation smartphone, the Pixel 8. Be sure to check back in at Yahoo Finance for all of the news out of Google I/O when it kicks off Wednesday, May 10. By Daniel Howley, tech editor at Yahoo Finance. Follow him @DanielHowley Click here for the latest technology business news, reviews, and useful articles on tech and gadgets Read the latest financial and business news from Yahoo Finance Related Quotes",
        "score": 5.908209647495362
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        "website": "https://finance.yahoo.com/news/much-google-worth-180014194.html",
        "content": "Yahoo Finance How Much Is Google Worth? Show Ad    Google\u2019s ubiquity seems to qualify it as less of \u201ca search engine\u201d and more so \u201cthe search engine.\u201d Its cultural imprint runs so deep that \u201cGoogle\u201d has become a verb, and many people use it as their default browser page. How To Buy ChatGPT Stock: Your 2023 Guide to AI InvestingFind Out: How To Build Your Savings From Scratch With a share of the global search engine market that comes out to about 86%, according to Statista, the fact that Google is an important part of the daily lives of most people can\u2019t be understated. GOBankingRates Googled some figures on Alphabet, Google\u2019s parent company, to see what this importance means for investors. Read on to learn about the company\u2019s net worth and other factors you should consider before investing. About Google Headquarters Mountain View, California Year Founded 1998 Founders Sergey Brin, Larry Page CEO Sundar Pichai Google\u2019s Worth Alphabet (GOOG) Share Price, 52-Week Range $83.45 \u2013 $123.26 Third-Quarter 2022 Revenue $69.8 billion Shareholders\u2019 Equity $260.89 billion Google\u2019s net worth can be calculated by subtracting the company\u2019s liabilities from its assets. Shareholders\u2019 equity, which likewise equals total assets minus total liabilities, is essentially a company\u2019s net worth. Alphabet\u2019s total shareholders\u2019 equity as of the quarter ending Mar. 31 was $260.89 billion\u2013the highest it\u2019s been in the past five years. Take Our Poll: What Are You Worth to Your Company? In early 2020, Alphabet became the third American tech company to reach a $1 trillion valuation, joining Apple and Microsoft \u2014 Tesla and Amazon since have joined the club. The price of GOOG, Alphabet\u2019s Class C shares, is up, at $108.24 as of May 8, 2023, giving Google\u2019s parent company a market capitalization of $1.37 trillion as of the same date. In addition to its Class C shares, there are also shares of GOOGL, Alphabet\u2019s Class A common stock. Both types of shares are currently trading at relatively similar prices. Market capitalization is one of several metrics that investors use to gauge how much a company is worth. The market cap is the value of all of the company\u2019s stock combined, giving you a sense of what value investors are placing on the company based on the price it is trading at. The figure can change as much as the share price does since it\u2019s calculated by multiplying the number of outstanding shares by the current trading price. Although Alphabet shares have gone as high as $123.26 in the past year, the company is susceptible to market volatility, perhaps as a result of competing with tech giants like Apple and Amazon. Alphabet\u2019s share price was $83.45 at its 52-week low. Swings in share price have, in turn, caused its market cap to vary widely over the same period. As of May 8, Google has a share price of $108.24 and a market capitalization of $1.37 trillion. GOOGL has a high level of institutional ownership at 61.45%. The top 10 shareholders of Alphabet\u2019s Class A stock are: Shareholder Percentage of Shares The Vanguard Group Inc. 7.68% BlackRock Inc. 4.47% S SgA Funds Management, Inc. 3.64% Fidelity Management & Research Co. 3.37% Geode Capital Management LLC 1.97% T. Rowe Price Associates Inc. 1.91% Norges Bank Investment Management 1.59% Wellington Management Co. LLP 1.20% Massachusetts Financial Services 1.03% Northern Trust Investments Inc. 1.02% Google was founded in 1998 by Larry Page and Sergey Brin. The two met at Stanford in 1995 and collaborated on a search engine called Backrub. Google is a play on the word \u201cgoogol,\u201d which is a one followed by 100 zeros. The name was a great summary of Google\u2019s mission \u201cto organize the world\u2019s information and make it universally accessible and useful.\u201d Page has a net worth of $98 billion and Brin has a net worth of $93 billion as of May 8. Alphabet announced its first-quarter 2023 earnings on Apr. 25. The company generated revenues of about $69.8 billion, up 6% year over year despite declining ad revenues. Alphabet reported diluted earnings per share of $1.17, down from $1.23 a year ago. Alphabet\u2019s first-quarter 2023 earnings report highlighted a few areas that contributed to its success. One is the number of layoffs the company did, which led to a $2.6 billion reduction in charges related to workforce and office space. Another aspect that boosted Alphabet\u2019s earnings was a $988 million reduction in depreciation expense from the change in estimated life of their servers and network equipment. Lastly, the earnings report credited a shift in the timing of their annual employee stock-based compensation awards. Experts say the stock is expected to go up 16% in the next three months, with a 90% probability it will hold a price between $117.96 and $131.36 at the end of that period. Analysts have positive expectations for the stock and do suggest it as a candidate to buy. More From GOBankingRates Why Stealth Wealth Is the Best Way To Handle Your Money Got a Question About Money? Ask an Expert 3 Ways to Recession Proof Your Retirement 14 Ways to Invest That Don't Involve the Stock Market Sam DiSalvo, Daria Uhlig and Sean Dennison\u00a0contributed to the reporting for this article. Data is accurate as of May 8, 2023, and is subject to change. This article originally appeared on GOBankingRates.com: How Much Is Google Worth?    Related Quotes",
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    "news": [
      {
        "website": "https://finance.yahoo.com/news/biologic-therapeutics-market-size-increase-034500928.html",
        "content": "Yahoo Finance Biologic therapeutics market size to increase by USD 286.12 billion from 2022 to 2027: Introduction of biosimilars to drive growth - Technavio Show Ad    NEW YORK, May 9, 2023 /PRNewswire/ --\u00a0The biologic therapeutics market\u00a0size is forecasted to increase by USD 286.12 billion from 2022 to 2027 at a CAGR of 11.34%, according to a recent market study by Technavio. The growth of the market will be driven by the introduction of biosimilars,\u00a0increasing incidence of chronic diseases and immunological disorders, and patent expiry of major biologics. Charts & data tables about market and segment sizes for the historic period (2017-2021) and forecast period (2023-2027)\u00a0have been covered in this report. Download the sample report Vendor analysis: Vendor offerings - Technavio has extensively analyzed 15 major vendors, including\u00a0AbbVie Inc., Amgen Inc., Apogenix AG, AstraZeneca Plc, Aurobindo Pharma Ltd., Baxter International Inc., Biocon Ltd., BioMarin Pharmaceutical Inc., Celltrion Healthcare Co. Ltd., Eli Lilly and Co., GangaGen Biotechnologies Pvt Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Pfizer Inc., Precision Biologics Inc., Samsung Electronics Co. Ltd., Sanofi SA, and Tubulis GmbH. The key offerings of some of these vendors are listed below: Amgen Inc. -\u00a0The company offers Aimovig prescription medicine, which is used for the preventive treatment of migraine in adults. AstraZeneca Plc -\u00a0The company offers biotherapeutics oligonucleotide drugs, which are used for the treatment of respiratory disorders such as asthma. Aurobindo Pharma Ltd. -\u00a0The company offers biotherapeutics mirtazapine drug, which is designed for the treatment of depressive illnesses in adults. Baxter International Inc. -\u00a0The company offers cytotoxic chemotherapy drug, which is used to destroy cancer cells in the human body. Key benefits for industry players & stakeholders \u2013 The report offers information on the criticality of vendor inputs, including R&D, CAPEX, and technology. It also provides detailed analyses of the market's competitive landscape and vendors' product offerings. The report also provides a qualitative and quantitative analysis of vendors to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. Expand operations in the future - To get requisite details, ask for a custom report. Customer landscape - Analysis of price sensitivity, adoption lifecycle, customer purchase basket, adoption rates, and purchase criteria by Technavio One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage. Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH. Furthermore, market adoption rates for all regions have been covered. Get a holistic overview of the market by industry experts to evaluate and develop growth strategies.\u00a0Download the sample Market segmentation: Application Product Geography Market dynamics: Introduction of biosimilars Increasing incidence of chronic diseases and immunological disorders Patent expiry of major biologics A biosimilar refers to a biological product that closely resembles an already approved biopharmaceutical without clinically meaningful differences in safety, purity, and efficacy. Biosimilars are developed using different cell lines, manufacturing processes, or formulations. However, they have the same mechanism of action as the original biologic. Biosimilars can help reduce medical costs. They can also help replace off-patent biologics. Therefore, the availability of biosimilars will fuel the growth of the global biologic therapeutics market during the forecast period. Major trends: Strong R&D pipeline Targeted therapeutic mechanism of biologics Increasing investment in developing biologics Manufacturers are investing in R&D of biologics to effectively treat severe infections, malignancies, immune disorders, and hormonal disorders. For example, in the EU and the US, 153 monoclonal antibodies have been approved or are under investigation for various indications. Vendors such as AbbVie and Amgen are investigating biologics, and many research institutes are focusing on the development of new biologics. In addition, biologics have fewer side effects when compared to chemical agents. They can target specific areas of the body. These factors will support the growth of the global biologic therapeutics market during the forecast period. Key challenges: High cost of biologics Issues related to entry of new biologics Reimbursement challenges of new biologics Biologics can be used to treat many types of malignancies, hormonal imbalances, and autoimmune diseases. However, they are unaffordable for a large number of patients due to high cost. The total manufacturing cost, which includes the cost associated with clinical trials, contributes to the high cost of these products. Animal immunization and other procedures related to antibody and vaccine production further increase the product cost. Therefore, due to the high price of biologic therapies, many patients are unable to access treatment. This, in turn, will impede the global biologic therapeutics market growth during the forecast period. To get detailed insights about market dynamics, buy the report. What are the key data covered in this biologic therapeutics market report? CAGR of the market during the forecast period Detailed information on factors that will drive the growth of the biologic therapeutics market between 2023 and 2027 Precise estimation of the size of the biologic therapeutics market and its contribution to the parent market Accurate predictions about upcoming trends and changes in consumer behavior Growth of the biologic therapeutics market across North America, Europe, Asia, and Rest of World (ROW) A thorough analysis of the market's competitive landscape and detailed information about vendors Comprehensive analysis of factors that will challenge the growth of biologic therapeutics market vendors Technavio's SUBSCRIPTION platform Related Reports: The biologics CDMO market is estimated to grow at a CAGR of 13.97% between 2022 and 2027. The size of the market is forecasted to increase by USD 13.26 billion. This report extensively covers market segmentation by type (mammalian and microbial), product type (biologics and biosimilars), and geography (North America, Europe, Asia, and Rest Of World (ROW)). The cancer biologics market size is expected to increase by USD 34.97 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.91%. Furthermore, this report extensively covers market segmentation by product (monoclonal antibodies, vaccines, cell and gene therapy, and others) and geography (North America, Europe, Asia, and Rest of World (ROW)). Biologic Therapeutics Market Scope Report Coverage Details Base year 2022 Historic period 2017-2021 Forecast period 2023-2027 Growth momentum & CAGR Accelerate at a CAGR of 11.34% Market growth 2023-2027 USD 286.12 billion Market structure Fragmented YoY growth 2022-2023\u00a0(%) 10.6 Regional analysis North America, Europe, Asia, and Rest of World (ROW) Performing market contribution North America at 57% Key countries US, Germany, France, China, and Japan Competitive landscape Leading vendors, market positioning of vendors, competitive strategies, and industry risks Key companies profiled AbbVie Inc., Amgen Inc., Apogenix AG, AstraZeneca Plc, Aurobindo Pharma Ltd., Baxter International Inc., Biocon Ltd., BioMarin Pharmaceutical Inc., Celltrion Healthcare Co. Ltd., Eli Lilly and Co., GangaGen Biotechnologies Pvt Ltd., GlaxoSmithKline Plc, Johnson and Johnson Services Inc., Merck and Co. Inc., Novartis AG, Pfizer Inc., Precision Biologics Inc., Samsung Electronics Co. Ltd., Sanofi SA, and Tubulis GmbH Market dynamics Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. Customization purview If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. Browse for Technavio health care market\u00a0reports Table of contents 1 Executive Summary 1.1 Market overview 2 Market Landscape 2.1 Market ecosystem 3 Market Sizing 3.1 Market definition 3.2 Market segment analysis 3.3 Market size 2022 3.4 Market outlook: Forecast for 2022-2027 4 Historic Market Size 4.1 Global biologic therapeutics market 2017 - 2021 4.2 Application Segment Analysis 2017 - 2021 4.3 Product Segment Analysis 2017 - 2021 4.4 Geography Segment Analysis 2017 - 2021 4.5 Country Segment Analysis 2017 - 2021 5 Five Forces Analysis 5.1 Five forces summary 5.2 Bargaining power of buyers 5.3 Bargaining power of suppliers 5.4 Threat of new entrants 5.5 Threat of substitutes 5.6 Threat of rivalry 5.7 Market condition 6 Market Segmentation by Application 6.1 Market segments 6.2 Comparison by Application 6.3 Cancer - Market size and forecast 2022-2027 6.4 Infectious diseases - Market size and forecast 2022-2027 6.5 Autoimmune diseases - Market size and forecast 2022-2027 6.6 Others - Market size and forecast 2022-2027 6.7 Market opportunity by Application 7 Market Segmentation by Product 7.1 Market segments 7.2 Comparison by Product 7.3 Antibody therapeutics - Market size and forecast 2022-2027 7.4 Vaccines - Market size and forecast 2022-2027 7.5 Cell therapy - Market size and forecast 2022-2027 7.6 Gene therapy - Market size and forecast 2022-2027 7.7 Others - Market size and forecast 2022-2027 7.8 Market opportunity by Product 8 Customer Landscape 8.1 Customer landscape overview 9 Geographic Landscape 9.1 Geographic segmentation 9.2 Geographic comparison 9.3 North America - Market size and forecast 2022-2027 9.4 Europe - Market size and forecast 2022-2027 9.5 Asia - Market size and forecast 2022-2027 9.6 Rest of World (ROW) - Market size and forecast 2022-2027 9.7 US - Market size and forecast 2022-2027 9.8 China - Market size and forecast 2022-2027 9.9 Germany - Market size and forecast 2022-2027 9.10 France - Market size and forecast 2022-2027 9.11 Japan - Market size and forecast 2022-2027 9.12 Market opportunity by geography 10 Drivers, Challenges, and Trends 10.1 Market drivers 10.2 Market challenges 10.3 Impact of drivers and challenges 10.4 Market trends 11 Vendor Landscape 11.1 Overview 11.2 Vendor landscape 11.3 Landscape disruption 11.4 Industry risks 12 Vendor Analysis 12.1 Vendors covered 12.2 Market positioning of vendors 12.3 AbbVie Inc. 12.4 Amgen Inc. 12.5 AstraZeneca Plc 12.6 Aurobindo Pharma Ltd. 12.7 Baxter International Inc. 12.8 Biocon Ltd. 12.9 Celltrion Healthcare Co. Ltd. 12.10 Eli Lilly and Co. 12.11 GlaxoSmithKline Plc 12.12 Merck and Co. Inc. 12.13 Novartis AG 12.14 Pfizer Inc. 12.15 Precision Biologics Inc. 12.16 Samsung Electronics Co. Ltd. 12.17 Sanofi SA 13 Appendix 13.1 Scope of the report 13.2 Inclusions and exclusions checklist 13.3 Currency conversion rates for US$ 13.4 Research methodology 13.5 List of abbreviations About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: media@technavio.comWebsite: www.technavio.com/ View original content to download multimedia:https://www.prnewswire.com/news-releases/biologic-therapeutics-market-size-to-increase-by-usd-286-12-billion-from-2022-to-2027-introduction-of-biosimilars-to-drive-growth---technavio-301818252.html SOURCE Technavio   ",
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      {
        "website": "https://finance.yahoo.com/m/885fd35a-d562-3ef2-994f-ebfd6f25a52c/asean-leaders-say-%27deeply.html",
        "content": "Yahoo Finance ASEAN leaders say 'deeply concerned' about Myanmar violence Show Ad    Southeast Asian nations said Wednesday they are \"deeply concerned\" about the violence ravaging Myanmar, and condemned a recent attack on a convoy of diplomats delivering humanitarian aid in the country. Turmoil in junta-ruled Myanmar has dominated talks at this week's Association of Southeast Asian Nations (ASEAN) summit in Indonesia, as the regional bloc faces criticism for its perceived inaction. ASEAN has led diplomatic attempts to resolve the festering crisis, but its efforts so far have failed to stem the bloodshed unleashed by a military coup in 2021. \"We were deeply concerned with ongoing violence in Myanmar and urged the immediate cessation of all forms of violence and the use of force to create a conducive environment for the safe and timely delivery of humanitarian assistance and inclusive national dialogues,\" ASEAN leaders said in a statement. The junta has ignored international criticism and refused to engage with its opponents, which include ousted lawmakers, anti-coup \"People's Defence Forces\" and armed ethnic minority groups. An air strike on a village in a rebel stronghold last month that reportedly killed about 170 people sparked global condemnation and worsened the junta's isolation. Pressure on the regional bloc increased Sunday after a convoy of vehicles carrying diplomats and officials coordinating ASEAN humanitarian relief in Myanmar came under fire. Singapore and Indonesia said earlier that staff from their embassies in Myanmar were in the vehicles that came under fire in eastern Shan State but were unharmed. \"We condemned the attack and underlined that the perpetrators must be held accountable,\" ASEAN leaders said in their statement. Addressing the summit Wednesday, Indonesian President Joko Widodo said he was \"confident\" the 10-member bloc could deal with growing global challenges if its members were united. \"With unity, ASEAN will be able to play a central role in bringing peace and growth,\" Widodo said through a translator as he opened the leaders' session of the summit. - Low expectations - Foreign ministers and national leaders meeting on the Indonesian island of Flores are trying to kickstart a five-point plan agreed upon with Myanmar two years ago after mediation attempts to end the violence failed. Myanmar remains an ASEAN member but has been barred from top-level summits due to the junta's failure to implement the peace plan. Thai Prime Minister Prayut Chan-o-Cha is being represented by his deputy at the twice-yearly gathering due to elections at home. Ahead of the arrival of officials in Labuan Bajo, the army deployed more than 9,000 personnel, warships and F-16 fighter jets to the small fishing town that serves as the entrance to Komodo National Park, where tourists can see the world's largest lizards. Jakarta's chairmanship of the bloc this year had raised hopes ASEAN could push for a peaceful solution, using its economic weight as well as its diplomatic experience. Indonesian Foreign Minister Retno Marsudi said Friday that her country was using \"quiet diplomacy\" to speak with all sides of the Myanmar conflict and spur renewed peace efforts. But a senior Indonesian minister said Tuesday that ASEAN was at a \"crossroad\" and risked becoming irrelevant if it failed to deal with Myanmar and other regional emergencies. ASEAN's charter principles of consensus and non-interference have hamstrung its ability to stop the violence in Myanmar, which critics say poses an existential threat to the bloc. Divisions among its members over Myanmar and other issues, including China's growing assertiveness in the disputed South China Sea, have undermined the bloc. Expectations for progress at this summit are low. \"Indonesia has indicated they are planning to release an implementation plan for the five-point consensus,\" said Aaron Connelly, an analyst for International Institute for Strategic Studies in Singapore. \"I don't think that there's going to be very much there that will surprise people.\" mba-amj/cwl   ",
        "score": 4.954273504273504
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      {
        "website": "https://finance.yahoo.com/news/nuix-limiteds-asx-nxl-shares-033816779.html",
        "content": "Yahoo Finance Nuix Limited's (ASX:NXL) Shares Lagging The Industry But So Is The Business Show Ad    You may think that with a price-to-sales (or \"P/S\") ratio of 2.1x Nuix Limited (ASX:NXL) is a stock worth checking out, seeing as almost half of all the Software companies in Australia have P/S ratios greater than 2.8x and even P/S higher than 6x aren't out of the ordinary. However, the P/S might be low for a reason and it requires further investigation to determine if it's justified. See our latest analysis for Nuix Nuix hasn't been tracking well recently as its declining revenue compares poorly to other companies, which have seen some growth in their revenues on average. It seems that many are expecting the poor revenue performance to persist, which has repressed the P/S ratio. If you still like the company, you'd be hoping this isn't the case so that you could potentially pick up some stock while it's out of favour. Want the full picture on analyst estimates for the company? Then our free report on Nuix will help you uncover what's on the horizon. In order to justify its P/S ratio, Nuix would need to produce sluggish growth that's trailing the industry. Retrospectively, the last year delivered a frustrating 11% decrease to the company's top line. The last three years don't look nice either as the company has shrunk revenue by 11% in aggregate. Therefore, it's fair to say the revenue growth recently has been undesirable for the company. Shifting to the future, estimates from the lone analyst covering the company suggest revenue should grow by 14% over the next year. Meanwhile, the rest of the industry is forecast to expand by 24%, which is noticeably more attractive. With this in consideration, its clear as to why Nuix's P/S is falling short industry peers. It seems most investors are expecting to see limited future growth and are only willing to pay a reduced amount for the stock. Typically, we'd caution against reading too much into price-to-sales ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company. We've established that Nuix maintains its low P/S on the weakness of its forecast growth being lower than the wider industry, as expected. Shareholders' pessimism on the revenue prospects for the company seems to be the main contributor to the depressed P/S. Unless these conditions improve, they will continue to form a barrier for the share price around these levels. Before you take the next step, you should know about the 2 warning signs for Nuix (1 is potentially serious!) that we have uncovered. If you're unsure about the strength of Nuix's business, why not explore our interactive list of stocks with solid business fundamentals for some other companies you may have missed. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Join A Paid User Research SessionYou\u2019ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here   ",
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      {
        "website": "https://finance.yahoo.com/m/9a010304-89b8-35d9-bf9f-0c33bc237289/%E2%80%98the-quiet-epidemic%E2%80%99-review%3A.html",
        "content": "Yahoo Finance \u2018The Quiet Epidemic\u2019 Review: A Documentary About Chronic Lyme Disease Needs to Make the Case \u2014 and Does \u2014 That CLD Exists Show Ad    Does chronic Lyme disease exist? That\u2019s the question that haunts \u201cThe Quiet Epidemic,\u201d Lindsay Keys and Winslow Crane-Murdoch\u2019s worthy and provocative documentary about the highly controversial syndrome. (The movie premieres on VOD on May 16.) The filmmakers argue, with unflinching advocacy and some very good reporting, that chronic Lyme disease most definitely exists. Among other things, \u201cThe Quiet Epidemic\u201d is a portrait of individuals whose lives have been ravaged by it. Yet the movie, in its doggedly opinionated way, does acknowledge the profundity of the debate. The medical establishment, led by the Centers for Disease Control and the National Institutes of Health, has long held the position \u2014 one it maintains to this day \u2014 that Lyme disease is a real thing, eminently curable with a two-to-four week regimen of antibiotics, but that chronic Lyme disease, with sometimes devastating symptoms stretching on for months, years, even decades, is not backed up by the science. Fifteen years ago, I wrote a review (for Entertainment Weekly) of the 2008 Lyme disease documentary \u201cUnder Our Skin\u201d in which I stated, trying to do nothing more (or less) than follow the science, that chronic Lyme disease does not exist. I was besieged by angry responses \u2014 more than 500 of them. Many were built around testimonials from individuals who said that they or one of their loved ones suffered from chronic Lyme. Today, I wouldn\u2019t make the same blanket statement. The science has advanced since 2008 (starting with a crucial study that was published in 2008). In \u201cDeep Places: A Memoir of Illness and Discovery\u201d (2021), the New York Times columnist Ross Douthat has written with searching eloquence and insight of his struggle with Lyme disease, and how it included his battles not just with the medical establishment but with his own skepticism. The perception that people who think they have chronic Lyme are victims of a psychosomatic phenomenon is one that Douthat first leaned toward, even about himself; that\u2019s part of what makes him such a convincing messenger. But even if you believe that chronic Lyme disease exists, you can also believe the question isn\u2019t nearly that simple. \u201cThe Quiet Epidemic\u201d opens with a man in Kalamazoo capturing birds and taking tiny ticks off them. As we see the ticks he\u2019s gathered onto a plastic petri dish, dramatic music fills the soundtrack. It\u2019s rapturous thriller music; you could also say that the music swells with a kind of holy fervor. Because the truth is that Lyme disease, unlike other diseases, has become more than a disease. The debate that has been raging about it since the \u201990s, with clusters of protesters arraying themselves against the medical establishment, and the medical establishment digging in its heels, has turned the disease\u2019s very identity into an issue of belief, a question of faith. From the start, the film presents the ticks almost as dark objects of worship. They\u2019re the carriers of Lyme disease, and therefore carriers of The Cause. In \u201cThe Quiet Epidemic,\u201d Mary Beth Pfeiffer, a former reporter for The Poughkeepsie Journal and the author of \u201cLyme: The First Epidemic of Climate Change,\u201d says that America now has 500,000 cases of Lyme disease a year, 10 to 20 percent of which she says become chronic. The filmmakers trace the history of Lyme disease (first identified, in the Connecticut town it was named for in 1975, as \u201cLyme arthritis\u201d). They interview Ivy League scientists, give us a crash course in what a \u201cspirochete\u201d is (the corkscrew-shaped bacteria injected into the bloodstream by ticks, and a first cousin of the spirochete that causes syphilis), and trace the life of Julia Bruzzese, a 15-year-old girl from Brooklyn who was struck by a series of drastic symptoms that her doctors could neither cure nor identify the source of. One day was she was 11, Julia felt sick at school; she couldn\u2019t see, and couldn\u2019t move her legs or arms. She was taken to the hospital and tested for every disorder under the sun, but each test came back negative. Today, she can\u2019t walk and is in a wheelchair, with a mostly unflinching good nature about her condition. Four months into her ordeal, she was picked out of a crowd at JFK Airport by Pope Francis, who blessed her. That thrust her into the spotlight, and she became a media poster girl for chronic Lyme disease. It\u2019s Julia\u2019s father, Enrico, who expresses his family\u2019s agony as he sits in his half-finished basement, surrounded by boxes and boxes of pills and oxygen respirators. He\u2019s desperate to heal his daughter. \u201cIt\u2019s so much more than just suffering and disease,\u201d he says. \u201cIt\u2019s like an atomic bomb drops down on your life and just turns everything upside down.\u201d The conundrum, as the film presents it, is this: If the medical establishment won\u2019t acknowledge that Julia has chronic Lyme disease, and in fact that\u2019s what she has, then how can she be cured? That all the tests she took came back negative is part of the chronic Lyme syndrome, and that\u2019s part of what makes so many outsiders view the phenomenon with skepticism. Last week in The New York Times, Nicholas Kristof wrote a striking column about the epic of unexplained chronic pain that now afflicts Americans \u2014 what he describes as \u201ca vast and mysterious panorama of pain that is increasing, sometimes with no obvious physical cause.\u201d Kristof connects that pain with our current social decline (the vanishing middle class, the anxiety and rage and helplessness, and so on). So you might say that his point echoes the psychosomatic view of chronic Lyme disease. The symptoms of Lyme are often similar to those of fibromyalgia, chronic fatigue syndrome, or various inflammatory disorders, but according to \u201cThe Quiet Epidemic\u201d many patients with chronic Lyme test negative even for Lyme. That, according to the film, is because of two crucial genetic markers that were taken off the test so that they could be used in a potential Lyme vaccine (the development of which has languished for 20 years). That this has the contour of a conspiracy theory doesn\u2019t make it wrong. But a conspiracy theory is what it sounds like. Where \u201cThe Quiet Epidemic\u201d is on solid ground, and hits moments of investigative power, is in relating the scientific evidence that\u2019s been gathered in recent years. The film looks at the case of Vicki Logan, a pediatric ICU nurse who was diagnosed with chronic Lyme and cared for, until she died, by Dr. Kenneth B. Leigner. After Logan was on antibiotics for months, the Mayo Clinic disputed her diagnosis. But according to a report in the New York Times, Leigner\u2019s diagnosis was ultimately vindicated. Scientists at the CDC in Atlanta found the Lyme spirochete swimming in a sample of Vicki Logan\u2019s spinal fluid. (That\u2019s what you call a smoking spirochete.) It indicates that Lyme can stay in the system. Ying Zhang, a microbiologist at Johns Hopkins University, describes what he calls the \u201cdandelion phenomenon,\u201d where the antibiotics chop off the top of the Lyme spirochete and leave the root, which can grow back. All of this is potent evidence that chronic Lyme disease is more than just part of the \u201canti-science movement\u201d (as the prestigious British medical journal The Lancet dubbed it). Yet the fact that Lyme disease itself became a movement gives one pause. Did it become a movement because it needed to \u2014 because that\u2019s the only way the people suffering from it could be heard? Or did it become a movement because people\u2019s need to believe they had it transcended their need for medical logic? Maybe both. Best of Variety The Best Albums of the Decade Sign up for Variety\u2019s Newsletter. For the latest news, follow us on Facebook, Twitter, and Instagram. Click here to read the full article.   ",
        "score": 5.547542611403998
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        "website": "https://finance.yahoo.com/news/q1-2023-xeris-biopharma-holdings-033317467.html",
        "content": "Yahoo Finance Q1 2023 Xeris Biopharma Holdings Inc Earnings Call Allison Wey; SVP of IR & Corporate Communications; Xeris Biopharma Holdings, Inc. Paul R. Edick; Chairman & CEO; Xeris Biopharma Holdings, Inc. Steven M. Pieper; CFO; Xeris Biopharma Holdings, Inc. Glen Joseph Santangelo; Equity Analyst; Jefferies LLC, Research Division Oren Gabriel Livnat; MD & Senior Healthcare Analyst; H.C. Wainwright & Co, LLC, Research Division Roanna Clarissa H. Ruiz; Director of Infectious Disease, Endocrine & Cardiovascular Disorders & Senior Research Analyst; SVB Securities LLC, Research Division Unidentified Analyst Operator Hello all, and a warm welcome to the Xeris Biopharma Holdings' First Quarter 2023 Financial Results Call. My name is Elisa, and I'll be the operator for today. (Operator Instructions)I now have the pleasure of handing over to your host today, Allison Wey, Senior Vice President of Investor Relations and Corporate Communications to begin. Allison, please go ahead when you're ready. Allison Wey Thank you, Elisa. Good morning, and welcome to Xeris Biopharma's first quarter financial results conference call and webcast. A press release with the company's financial results was issued earlier this morning can be found on our website. We are joined this morning by Paul Edick, Chairman and CEO; and Steve Pieper, CFO. Paul will provide opening remarks. Steve will provide details on our financial results, then we will open the call for Q&A.Before we begin, I would like to remind you that this call will contain forward-looking statements, which may include, but are not limited to statements concerning our business practices, future expectations, plans, prospects, clinical approvals, commercialization, corporate strategy and performance, which constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.Actual results may differ materially from those indicated by the forward-looking statements made during this call as a result of various factors, including our financial position and need for financing, including to fund our product, development programs or commercialization efforts, whether our products will achieve and maintain market acceptance in a competitive business environment or alliance with third-party suppliers, including single-source suppliers, our reliance on third-parties to conduct clinical trials, the ability of our product candidates to complete successfully with existing and new drugs, adverse effects of macroeconomic conditions on our business, operations and clinical activities and our and collaborators ability to protect our intellectual property and proprietary technology as well as other risk factors set forth in our filings with the Securities and Exchange Commission. Any forward-looking statements in this call represent our views only as of the date of this call and should not be relied upon as representing our views as of any subsequent date. Subject to obligations under applicable law, we disclaim any obligations to update such statements.Now I'd like to turn the call over to Paul. Paul R. Edick Thanks, Allison. You can take a breath. Good morning, everyone. Thank you for joining us today. Before I highlight our achievements for the first quarter, I think it's important that I reiterate what we're trying to build at Xeris. Every day, everyone at Xeris is intensely focused on building a substantial patient-centric, commercially focused, self-sustaining biopharma enterprise with multiple products -- commercial products in multiple therapeutic areas, a highly targeted development pipeline that has significant long-term promise and increasingly, a significant value-added technology partnership business, literally a three dimensional enterprise.What you will hear today, is that we are continuing to progress very successfully on that journey. We are executing on our vision. As I said just a few short weeks ago, when we reported outstanding 2022 results, our momentum from 2022 has set us up for a great 2023. First quarter 2023 delivered another record of quarterly revenue, strong underlying demand for Gvoke, Keveyis and Recorlev, and other potentially very valuable XeriJect partnership and a continued healthy cash position.Here are the headlines. We have achieved first quarter total revenue of $33.2 million, representing 50% growth compared to first quarter of '22. We ended first quarter 2023 with $95.1 million in cash, cash equivalents and short-term investments. We announced a research collaboration and option agreement with Regeneron for XeriJect formulations. And we are [affirming] our 2023 guidance of total revenues of $135 million to $165 million, cash utilization from operating activities of between 57 and $77 million, and year end cash, cash equivalents and short-term investments of between 45 and $65 million. Steve will go into those in greater detail as we progress.Let's start with the commercial portion of our business, which generated $32 million in the quarter, representing a 47% increase over last year in the first quarter. First, Gvoke. Gvoke had another record quarter of net revenue in prescriptions, just over $15 million in net revenue, a 21% increase compared to first quarter of '22. Total prescriptions for the first quarter were just shy of 46,000, growing 50% compared to the same period last year, and a 10% increase from fourth quarter of '22, which is a very good sign since the first quarter market growth is historically flat to the fourth quarter of the prior year.Since the beginning of the year, market growth is back to double-digits, with Gvoke continuing to outpace all other products and driving that market growth. At the end of April, Gvoke market share of new and total prescriptions in the glucagon market grew to approximately 30% and 29%, respectively. Ready-to-use glucagon products now represent over 75% of the total new prescription market for glucagon. Gvoke is also off to a good start in the second quarter, having recently topped 4,000 prescriptions per week for the first time and for two consecutive weeks.I mentioned this on our fourth quarter call in a few weeks ago, but due to the significance, I believe it bears repeating, especially since we're entering an important conference period. While more and more patients on insulin are getting ready-to-use glucagon such as Gvoke, there are still over 7 million people on insulin who remain at high risk and don't have a ready-to-use Gvoke available just in case. To address this critical situation and motivate health care professionals to do more, the American Diabetes Association, the Endocrine Society, the American Association of Clinical Endocrinology and others have recently updated their guidelines and algorithms to include an important focus on the incorporation of ready-to-use glucagon into clinical practice.For example, the Endo Society expanded the definition of those at high risk for severe low blood sugar and strongly recommends that ready-to-use glucagon should be prescribed for all patients with diabetes who are on daily insulin or Sulfonylureas, confirming what we've been saying all along. On to Recorlev. Recorlev generated $4.5 million in net revenue for the first quarter, an increase of approximately 18% from the fourth quarter of '22. We continue to see a steady increase in referrals, new patients on drug and unique prescribers of Recorlev in the first quarter. For example, we saw an increase in the number of referrals to Recorlev in the first quarter of nearly 30% from the prior quarter. Interestingly, in the first quarter, more than 30% of patients were prescribed Recorlev as their first drug therapy. This means that health care professionals are valuing Recorlev as a first-line treatment for Cushing's syndrome post surgery. Overall, Recorlev is developing exactly as expected.Moving to Keveyis. First quarter revenue for Keveyis was approximately $13 million, which represents an increase of 37% compared to the first quarter of '22. Since the first generic was approved in late December, it has not had a material impact on Keveyis to-date in 2023. In fact, our referral rates and patients on drug remain very steady. That isn't to say there won't be an impact. However, this is a challenging marketplace that requires significant work to identify, initiate and maintain patients on therapy. We have so far only seen glimpses of how generics may impact that process and the market as a whole. We'll see how it plays out over the course of the year. That said, given the market dynamics historically, we are continuing to invest in Keveyis despite the entrance of a generic and believe we can maintain a considerable portion of the business we've worked so hard to build on behalf of the PPP patient community, and we continue to monitor the landscape.Xeris is committed to ensuring everyone who needs access to Recorlev and Keveyis will receive it, our dedicated Xeris CareConnection's team, patient advocates and mentors support patients and health care providers through the product initiation, reimbursement and titration process, and we will continue that effort.Let's turn to our pipeline and partnered programs. As you know, we are focused on advancing our XeriSol levothyroxine development program to eventual commercialization. We recently began recruiting patients in the Phase II study and hope to dose the first patient before the end of the second quarter. The primary objectives of this Phase II study are to determine a target dose conversion factor for oral -- from oral levothyroxine to our liquid ready-to-use subcutaneous levothyroxine, one week injection and to assess the safety and tolerability of our XeriSol levothyroxine after once weekly subcutaneous injections in subjects with hypothyroidism.The study will also gather insight on each subject's thyroxine, or T4 and thyroid stimulating hormone or TSH levels over the course of the study. Data from this Phase II study will help inform our proposal to the FDA for a pivotal Phase III program. Oral levothyroxine has been the standard of care for treatment of hypothyroidism for many years, and it is one of the most prescribed medicines in the United States, generating more than 100 million prescriptions per year. However, 47% of patients have some GI issue or combined GI condition with impacting oral absorption, 21% report taking concomitant medications that interfere with absorption, and 17% of patients admit to compliance issues with the daily oral regimen, many of whom may be the same patient. As a result, we believe that our once weekly subcutaneous levothyroxine, if approved, will compete in a potential $2 billion to $3 billion market segment.Now on to our growing Xeris partnership business. In March, we announced the XeriJect platform partnership, this one with Regeneron to enable subcutaneous delivery of potentially several monoclonal antibodies. Under the terms of this collaboration and option agreement, Xeris will use our XeriJect formulation to develop ultra highly concentrated, ready-to-use, small volume, subcutaneous injections of two undisclosed monoclonal antibodies developed by Regeneron.Regeneron has an option to license clinical development and commercial rights to XeriJect for these molecules and to nominate additional molecules for formulation and potential development and commercialization. This is our third recently disclosed Xeris technology partnership, following collaborations with Merck and Horizon, which highlights the unique value proposition of XeriJect as well as the investment and progress Xeris has been making in advancing XeriJect into clinical GMP readiness.So where are we with Merck and Horizon programs? For Merck, we have completed the XeriJect formulation stability assessment of the molecule. And at this point, Merck is evaluating the product for further clinical development and commercialization. With Horizon partnership, we're currently in the initial stages of formulation of TEPEZZA in our XeriJect delivery system. Once we meet the agreed-upon product profile, we will receive the previously disclosed $6 million from Horizon. If they sign the licensing agreement, giving them exclusive rights in the category, Xeris would be entitled to future development, regulatory and sales-based milestones, as well as royalties on future sales.With a great first quarter behind us and from where we stand today, I want to reiterate that we are affirming our total revenue guidance of $135 million to $165 million, cash utilization of $57 million to $75 million, a year end cash position in the range of $45 million to $65 million and achieving cash flow breakeven in the fourth quarter, without the need for additional capital to fund our operations.I will now turn the call over to Steve for additional details on our first quarter performance. Steven M. Pieper Thanks, Paul. Good morning, everyone. I will focus my remarks on key financial results for the first quarter 2023. The details of which are in the press release issued this morning. Total revenue was a record $33.2 million, representing a 50% increase over the same quarter last year. Strong underlying patient demand across all three products, coupled with revenue from our collaboration partnerships drove this growth in total revenue. Gvoke net revenue for the quarter was a record $15 million, representing a 21% increase compared to the same period last year. Continued growth in Gvoke prescriptions and market share drove this increase.Gvoke prescriptions topped 45,000 for the first time, a 50% increase compared to the same period in 2022. Gvoke ended the quarter with total retail market share of approximately 28% compared to approximately 21% in March of 2022. The total glucagon prescription market grew 3% compared to the fourth quarter of '22. Notably, Gvoke total prescriptions grew 10% in the same period, once again significantly outpacing the market. More promising, we are seeing this momentum continue into the second quarter, as Paul mentioned, with Gvoke weekly prescriptions exceeding 4,000 prescriptions in consecutive weeks.Moving to Keveyis. Keveyis net revenue for the quarter was $12.8 million, representing a 37% increase compared to the same period last year. This revenue growth was driven by an increase in the number of patients on Keveyis. To date, we have not experienced any material negative impact to Keveyis from the launch of a generic. We continue to proactively monitor and defend Keveyis against generic competition, while seeking patents to restore our exclusive rights.Moving to Recorlev. Recorlev net revenue for the quarter was $4.5 million, which represents an 18% increase over the fourth quarter. This growth was primarily driven by increases in the number of patients on Recorlev. As Paul mentioned, we continue to see a steady increase in referrals with a 30% increase over the fourth quarter. Additionally, over 30% of our patients in the first quarter were prescribed Recorlev as their first drug therapy. We believe that health care professionals are valuing Recorlev as a first-line treatment for Cushing's syndrome post surgery.In addition to total product revenue of $32.3 million, we recognized $900,000 of revenue from collaborations and partnerships. Additionally, we were pleased to announce another partnership with Regeneron in March. Looking ahead for the full year 2023, we affirm our guidance of total revenue between $135 million to $165 million.Moving down the P&L. Cost of goods sold was $5.3 million, a $1 million decrease compared to the same quarter last year. The decrease was attributable to a one-time contract credit and favorable product mix, offset by an increase in product sales. Research and development expenses was $4.3 million, a $1.4 million decrease compared to the same period last year. This decrease was driven by lower product development costs in the period. We continue to practice disciplined prioritization and are focusing our 2023 R&D on funding the levothyroxine program, the completion of the Recorlev OPTICS study and continued development work of our proprietary formulation science.We expect these initiatives to drive modest year-over-year increases in R&D expenses. Selling, general and administrative expenses were $33.6 million, a $2.3 million decrease compared to the same period last year. This decrease was primarily driven by no restructuring expense in 2023 when compared to 2022. As we discussed in March, we continue to expect total SG&A to be relatively flat in 2023 when compared to 2022. From a cash perspective, as of March 31, 2023, we had total cash, cash equivalents and short-term investments of approximately $95 million, compared to $122 million at December 31, 2022.Consistent with our experience in prior years and reflected in our March commentary, cash utilization in the first quarter was higher due to changes in working capital. Reiterating our position for March, we expect cash utilization utilization to moderate through the middle of 2023 until the fourth quarter when we expect to achieve cash flow breakeven.With that said, we are affirming our guidance of total cash, cash equivalents and short-term investments to end the year in the range of $45 million to $65 million, and cash utilized from operating activities to be between 57 and $77 million. Assuming we are performing to our guidance, we project to reach cash flow breakeven in the fourth quarter 2023, and from that point on, we will be a self-sustaining enterprise. As we have discussed, we do not plan to raise capital to fund our operations as we become a self-sustaining enterprise.Operator, please open the line for questions. Operator (Operator Instructions) Our first question for today comes from Oren Livnat of H.C. Wainwright. Oren Gabriel Livnat Congrats on a good quarter. I have a few. On guidance, you reiterated a solid growth year-over-year. And I'm just trying to get some help on the range of that. It's still quite wide and you haven't narrowed it 1/3 of the way through the year. So could you just remind us the major pushes and pulls there? And also, I can't remember who'd mentioned this in the past, but at the top end, does that include revenue recognition potentially for the Horizon formulation? And I have a follow-up. Paul R. Edick Oren, this is Paul. The answer to the second part of your question is. Yes, it does include that revenue. In terms of the breadth of the range, we said back in March when we established the range, that as the year progresses and we see how Keveyis plays out and how the generic plays out and we'll know if we can tighten the range. But there's a lot of unknowns right now. Oren Gabriel Livnat Okay. On Gvoke, you highlighted the share gains that you've been impressive, maybe even accelerating recently. And I'm just wondering, firstly, with the sale of [vaccine,] do you think that's going to have any impact on the competitive dynamics in the space, whether they'll get better, worse or stay the same? And like you highlighted, there was a pretty strong quarter-over-quarter into your seasonally toughest one. So can you comment, first of all, were gross to net better than expected in the first quarter? And actually, should we expect that to improve through the year as we've normally seen. Paul R. Edick Steve? Steven M. Pieper Yes, I can answer the second question, Oren. The gross to net, as we said kind of midway through last year, they've kind of moderated, and it kind of leveled off. So no, that's not driving it. We don't expect that to improve over the course of 2023. Oren Gabriel Livnat Okay. And lastly on... Paul R. Edick To the first part of your question on Gvoke, we need, and we have said all along that we want our voices in this marketplace in order to get more market growth. I think the value that really extracted for their product speaks to the potential for the category and having somebody who is dedicated to endocrinology and to the category, I think, can only help. So we're anticipating another voice in the marketplace will increase the market growth, and that will benefit us in the long run. Oren Gabriel Livnat Great. And on OpEx, they were both actually quite light. I was surprised to see SG&A down despite, I think it was the fourth quarter sales force expansion. Can you just talk about, I guess, how lumpy that is going forward? I know you gave sort of full year characterization. But did you actually trim some core costs across the board? Steven M. Pieper No, not at all. We're expecting SG&A for the full year to be relatively flat. I mean, there could be some lumpiness in terms of marketing promotional spend quarter-to-quarter. But by and large, we look at it from a full year perspective, Oren, it's going to be relatively flat compared to 2022. Oren Gabriel Livnat And R&D, it sounds like you said you're focusing on levothyroxine. Is the current run rate until that Phase 2 really kicks in here pretty good to go on R&D? Steven M. Pieper Yes. On R&D, I would expect to see a slight uptick in Q2 and for the balance of the year when you're looking at it from a quarter-over-quarter perspective, primarily in the second half of that Phase II levo program really kicks in. Operator Our next question from today comes from Glen Santangelo of Jefferies. Glen Joseph Santangelo Paul, I also want to follow-up on these reimbursement dynamics for Gvoke here in 1Q, right? Because if I look at your scripts, right, they were up 10%, and I think there was a price increase, so we can maybe flesh out the reimbursement dynamics a little bit more. But I would have thought with the scripts being as strong as they were, the revenues would have been a little bit better than flat versus -- sequentially versus 4Q. So if you could flesh that out a little bit, that would be great. Steven M. Pieper Glen, this is Steve. I'll take that question. So yes, what we saw in the first quarter, we're working pretty proactively with our wholesalers. And I think there was a little bit of shift in channel inventory in the first quarter, and that happens from time-to-time. The -- our wholesalers will tighten up their inventory a bit. If they swing that one or two weeks within the quarter, it makes a difference, and that's what we saw really. But nothing unusual and nothing concerning about that. That just happens from time-to-time. Glen Joseph Santangelo Okay. And then with respect to Keveyis, this is kind of four quarters in a row with revs roughly about $13 million. And I think you said, Paul, in your prepared remarks, right, you're not really seeing any evidence of any generic competition. So absent that generic competition, is this kind of roughly the right run rate for this product that we should be thinking about? Or based on sort of your marketing plans, do you see a bigger opportunity here? How should we think about the growth of that product going forward, sort of absent any incremental generic competition? Paul R. Edick Yes, that's a good question. The -- we're -- we need -- we're taking kind of a wait and see on that. The potential for Keveyis, we think, is significantly higher. And without a generic or without the threat of a generic, we would add resources and drive Keveyis even harder. Right now, we're driving Keveyis as hard as we can with the current resources that we have and generating good solid quarter-over-quarter every single quarter, like you said, $13 million-ish. And we need to see how the whole generic thing plays out and what they do relative to payers and discounting and rebating, and whether or not a second generic enters the market. If -- and then we also have to see if we are successful in our patent application and the appeal that we have going on in the middle of this year. So as things play out, we could substantially upsize our effort and drive a lot more Keveyis over time. But that's just not in the cards right now. Operator Our next question today comes from Roanna Ruiz of SVB Securities. Roanna Clarissa H. Ruiz So a quick question on Recorlev. I was curious if you could update us on, if you're seeing anything around how long the titration process has been for patients as physicians get more comfortable, could that titration period possibly get shorter and you can get patients on drug more quickly? Paul R. Edick Yes. Good question, Roanna. We are starting to see more titration, we're seeing the average dose start to creep up, and that's a very good sign. The other thing that we're seeing is the maximum dose, we're not getting to the higher doses that we thought, which I think is also a good sign the drug is working and physicians are starting to use it even for drug-naive patients. So all good signs, and we are starting to see the titration. Whether or not it's going to happen faster versus slower over time, we don't have enough to understand that yet. Roanna Clarissa H. Ruiz Got it. Okay. And then I wanted to ask a bit more about your new collaboration with Regeneron. Basically, could you give us a rundown of what makes you really excited about this program and the opportunity for possibly multiple products? And when might we get more clarity on future steps or milestones around these programs? Paul R. Edick So there's a lot -- we would love to talk about that we just can't talk about. But what excites us about the Regeneron deal is, it's a platform deal. I mean, Regeneron is starting out with identification of two products or molecules that they want to put into our system. The status of which -- we're just getting started. I mean, I think they just -- we're just having kickoff meetings and things like that to start the formulation of the first molecule and then the second molecule to follow on soon. The real interesting part is they can nominate additional molecules down the road for formulation and continued development.So the degree to which it could become a platform of products in our formulation is very exciting. And when you think about it, each one of those molecules, depending on if they take them forward into clinical development and eventual approval and commercialization, each one comes with its own set of milestones and both development, regulatory and commercial milestones, as well as royalties. So the eventual value could be very significant. Operator Our next question today comes from David Amsellem of Piper Sandler. Unidentified Analyst This is Skyler on for David. First, I was wondering, can you talk about the kind of patients who were getting Recorlev? Are they mainly those with prior exposure that received ketoconazole? Can you just speak to the overall patient mix? And then also what your view is on the potential commercial impact on Recorlev of Corcept's next-generation cortisol modulator relacorilant, and if you see that as posing a challenge to Recorlev at all? Paul R. Edick Skyler, I will take the second half first. We don't expect the next-generation anytime soon. Corcept product and one would expect that it would probably just cannibalize the product that they have. We're not seeing that as an additional big competitor in the marketplace. To your first question, in terms of patient mix, we tried to hit that in our prepared remarks. We're very excited about the patient mix, because it's not just patients coming from keto. If patients coming from predominantly two areas. One, other products in very specifically Korlym, because we have a product that is very effective at normalizing cortisol, Korlym doesn't do that.And we've got -- we're getting patients from Isturisa and others. The really exciting piece is about 30% of the patients we're getting have not been on any drug, that we're the first drug therapy post surgery. That sets physicians are more and more and very quickly, we're only a year into this, that one year into experience with Recorlev, physicians are using Recorlev first-line therapy. That's very exciting. So we think the patient mix is surprisingly positive. We did anticipate getting more of the uncontrolled or patients who have been through several products. But the mix we're getting is really good, bodes very well for the future of the drug. Operator We have no further questions, so I would like to hand back to the management team for any closing remarks. Paul R. Edick Thank you very much. Thanks all for joining us. What you heard today confirms once again that we have a durable business on its way to being self-sustaining, through continued revenue growth, careful allocation of resources and prudent expense management, we expect to cash flow breakeven in the fourth quarter. And by achieving that milestone prove we can be self-sustaining biopharmaceutical company. I'd also like to take this time to thank all of our patients and caregivers for their support and also the Xeris team for the tireless work that they've done over the last several years through just about every headwind you could imagine. We're very excited about our business and very excited about our future prospects. So thank you very much, and have a great day. Operator Thank you all for joining. That concludes today's Xeris Biopharma Holdings' first quarter 2023 financial results call. Have a great rest of your day, and you may now disconnect.",
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        "website": "https://finance.yahoo.com/news/tsx-venture-exchange-stock-maintenance-033200103.html",
        "content": "Yahoo Finance TSX Venture Exchange Stock Maintenance Bulletins Show Ad    VANCOUVER, BC, May 9, 2023 /CNW/ - TSX VENTURE COMPANIES BULLETIN TYPE: Cease Trade OrderBULLETIN DATE: May 9, 2023TSX Venture Companies A \u00a0Cease Trade Order has been issued by the British Columbia and Ontario \u00a0Securities Commissions on \u00a0May 8, 2023 against the following companies for failing to file the documents indicated within the required time period: Symbol Tier Company Failure to File Period Ending (Y/M/D) AUL 2 Aurelius Minerals Inc.   Annual audited financial statements for the year.   Annual management's discussion and analysis for the year.   Certification of annual filings for the year.    2022/12/31    2022/12/31    2022/12/31 VDKA 2 Forbidden Spirits Distilling Corp.  NXH 2 Next Hydrogen Solutions Inc.  RLP RLP.DB.B 2 Realia Properties Inc.  SCZ 2 Santacruz Silver Mining Ltd.  TAU 2 Thesis Gold Inc.  Upon revocation of the \u00a0Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements.\u00a0 Members are prohibited from trading in the securities of the companies during the period of the suspension or until further notice. ________________________________________ REACT GAMING GROUP INC. (\"RGG\")BULLETIN TYPE:\u00a0 Resume TradingBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 2\u00a0Company Further to the Exchange bulletin dated May 2, 2023 and the Company's news release dated May 9, 2023, effective at the open on Thursday, May 11, 2023, the shares of the Company will resume trading. _______________________________________ NEX COMPANIES: BULLETIN TYPE: Cease Trade OrderBULLETIN DATE: May 9, 2023NEX Company A \u00a0Cease Trade Order has been issued by the British Columbia and Ontario\u00a0Securities Commissions on \u00a0May 8, 2023 against the following company for failing to file the documents indicated within the required time period: Symbol  Company Failure to File Period Ending (Y/M/D)  ESTW.H  NEX  Eastower Wireless Inc.  Annual audited financial statements for the year.  Annual management's discussion and analysis for the year.  Certification of annual filings for the year.    2022/12/31   2022/12/31   2022/12/31 Upon revocation of the \u00a0Cease Trade Order, the Company's shares will remain suspended until the Company meets TSX Venture Exchange requirements.\u00a0 Members are prohibited from trading in the securities of the companies during the period of the suspension or until further notice. ________________________________________ KURE TECHNOLOGIES, INC. (\"KUR.H\")BULLETIN TYPE:\u00a0 Reinstated for TradingBULLETIN DATE:\u00a0 May 9, 2023NEX Company Further to the TSX Venture Exchange Bulletin dated January 9, 2023, the Exchange has been advised that the Cease Trade Order issued by the Ontario Securities Commission dated January 6, 2023, has been revoked. Effective at the opening, Thursday, May 11, 2023, trading will be reinstated in the securities of the Company. _______________________________________ ZINCORE METALS INC. (\"ZNC.H\")BULLETIN TYPE:\u00a0 ConsolidationBULLETIN DATE:\u00a0 May 9, 2023NEX Company Pursuant to a resolution passed by directors on April 17, 2023, the Company has consolidated its capital on a two (2) old for one (1) new basis.\u00a0 The name of the Company has not been changed. Effective at the opening Thursday, May 11, 2023, the common shares of Zincore Metals Inc. will commence trading on TSX Venture Exchange on a consolidated basis. The Company is classified as a 'Mining' company. Post - Consolidation   Capitalization: Unlimited shares with no par value of which  19,093,169 shares are issued and outstanding Escrow NIL shares are subject to escrow    Transfer Agent: Computershare Trust Company of Canada Trading Symbol: ZNC.H (UNCHANGED) CUSIP Number: 98959P869 (new) ________________________________________ 23/05/09 \u00a0- TSX Venture Exchange Bulletins TSX VENTURE COMPANIES ARIZONA SILVER EXPLORATION INC.\u00a0(\"AZS\")BULLETIN TYPE:\u00a0 HaltBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 2 \u00a0Company Effective at 7:31 a.m. PST, May 9, 2023, trading in the shares of the Company was halted, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. ________________________________________ ARIZONA SILVER EXPLORATION INC.\u00a0(\"AZS\")BULLETIN TYPE:\u00a0 Resume TradingBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 2 \u00a0Company Effective at \u00a08:30\u00a0 a.m. PST, May 9, 2023, shares of the Company resumed trading, an announcement having been made. ________________________________________ GLOBAL BATTERY METALS LTD. (\"GBML\")BULLETIN TYPE:\u00a0 Private Placement-Non-BrokeredBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on April 27, 2023: Number of Shares: 9,090,910 shares   Purchase Price: $0.11 per share   Warrants: 9,090,910 share purchase warrants to purchase 9,090,910 shares   Warrant Exercise Price: $0.15 for a twenty-four-month period   Number of Placees: 10 placees   Insider / Pro Group Participation:    Placees # of Placee (s) Aggregate # of Shares    Aggregate Existing Insider Involvement: 2 3,000,000 Aggregate Pro Group Involvement: 2 325,000   Aggregate Cash Amount Aggregate # of Shares Aggregate # of Warrants Finder's Fee: N/A N/A  N/A     The Company issued a news release on May 8, 2023\u00a0confirming closing of the private placement. [Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.] ________________________________________ INTEGRA RESOURCES CORP.\u00a0(\"ITR\")BULLETIN TYPE: Private Placement-Non-Brokered, Convertible Debenture, AmendmentBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 1\u00a0Company TSX Venture Exchange has accepted for filing an amendment to the conversion price and interest rate of the following convertible debenture: Convertible Debenture US$ 10,000,000   Original Conversion Price: Convertible into 10,526,316 common shares at US$0.95 of principal outstanding.   Amended Conversion Price: Convertible into 14,414,944 common shares at US$0.6937 of principal outstanding.   Original Interest rate: 8.75 % per annum   Amended Interest rate: 9.25 % per annum   Maturity date: Three years from issuance   This debenture was issued pursuant to a private placement that was originally accepted for filing by the Exchange effective August 17, 2022. For further information, please refer to the Company's news release dated February 27, 2023. _______________________________________ KERMODE RESOURCES LTD. (\"KLM\")BULLETIN TYPE:\u00a0 Private Placement-Non-BrokeredBULLETIN DATE: May 9, 2023TSX Venture Tier 2 Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on March 10, 2023: Number of Shares: 2,573,000 shares   Purchase Price: $0.01 per share   Warrants: 2,573,000 share purchase warrants to purchase 2,573,000 shares   Warrant Exercise Price: $0.05 for a three-year period   Number of Placees: 2 placees  Insider / Pro Group Participation:      Placees # of Placee (s) Aggregate # of Shares    Aggregate Existing Insider Involvement: 1 1,573,000 Aggregate Pro Group Involvement: NA NA   Aggregate Cash Amount Aggregate # of Shares Aggregate # of Warrants Finder's Fee: $800 NA 80,000     Finder's Warrants Terms: Each warrant entitles the holder to purchase one common share at the price of $0.05\u00a0for a period of 3 years from the date of issuance. The Company issued a news release on May 8, 2023 confirming closing of the private placement.\u00a0Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term. ________________________________________ M3 METALS CORP.\u00a0(\"MT\")BULLETIN TYPE:\u00a0 HaltBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 2 \u00a0Company Effective at 4:35\u00a0a.m. PST, May 9, 2023, trading in the shares of the Company was halted Pending News; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. ________________________________________ MACDONALD MINES EXPLORATION LTD.\u00a0(\"BMK\")BULLETIN TYPE:\u00a0 Resume TradingBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier \u00a02 Company Effective at 5:00\u00a0a.m. PST, May 8, 2023, shares of the Company resumed trading, an announcement having been made. ________________________________________ NICKEL 28 CAPITAL CORP.\u00a0(\"NKL\")BULLETIN TYPE:\u00a0 Normal Course Issuer BidBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier 1\u00a0Company TSX Venture Exchange has been advised by the Company that pursuant to a Notice of Intention to make a Normal Course Issuer Bid dated May 4, 2023, it may repurchase for cancellation, up to 7,224,516\u00a0shares in its own capital stock. The purchases are to be made through the facilities of TSX Venture Exchange\u00a0or other recognized marketplaces during the period May 11, 2023,\u00a0to May 10, 2024. Purchases pursuant to the bid will be made by Haywood Securities Inc.Error! Bookmark not defined.\u00a0on behalf of the Company. ________________________________________ REVIVAL GOLD INC. \u00a0(\"RVG\")BULLETIN TYPE:\u00a0 HaltBULLETIN DATE: May 9, 2023TSX Venture Tier 2 \u00a0Company Effective at 12:18 \u00a0p.m. PST, May 8, 2023, trading in the shares of the Company was halted, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. ________________________________________ REVIVAL GOLD INC. \u00a0(\"RVG\")BULLETIN TYPE:\u00a0 Resume TradingBULLETIN DATE:\u00a0 May 9, 2023TSX Venture Tier \u00a02 Company Effective at \u00a05:00\u00a0 a.m. PST, May 9, 2023, shares of the Company resumed trading, an announcement having been made. ________________________________________ NEX COMPANIES: BUTTE ENERGY INC. (\"BEN.H\")BULLETIN TYPE:\u00a0 Private Placement-Non-BrokeredBULLETIN DATE:\u00a0 May 9, 2023NEX Company TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on April 26, 2023: Number of Shares: 1,250,000 shares   Purchase Price: $0.20 per share   Warrants: 1,250,000 share purchase warrants to purchase 1,250,000 shares   Warrant Exercise Price: $0.30 for a one-year period   Number of Placees: 3 placees Insider / Pro Group Participation:    Placees # of Placee (s) Aggregate # of Shares    Aggregate Existing Insider Involvement: 2 950,000 Aggregate Pro Group Involvement: N/A N/A  Finder's Fee: N/A   The Company issued a news release on May 8, 2023,\u00a0confirming closing of the private placement. ________________________________________ CANADA ENERGY PARTNERS INC. (\"CE.H\")BULLETIN TYPE:\u00a0 HaltBULLETIN DATE:\u00a0 May 9, 2023NEX Company Effective at 6:12 \u00a0a.m. PST, May 9, 2023, trading in the shares of the Company was Halted, pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. ________________________________________ CANADA ENERGY PARTNERS INC.\u00a0(\"CE.H\")BULLETIN TYPE:\u00a0 Remain HaltedBULLETIN DATE:\u00a0 May 9, 2023NEX Company Further to the TSX Venture Exchange\u00a0('TSXV') Bulletin dated May 9, 2023, trading in the shares of the Company will remain halted Pending Receipt and review of acceptable documentation regarding the Fundamental Acquisition pursuant to Section 5.6(d) of Exchange Policy 5.3 This regulatory halt is imposed by Investment Industry Regulatory Organization of Canada, the Market Regulator of the Exchange, pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules. ________________________________________ SOURCE TSX Venture Exchange View original content: http://www.newswire.ca/en/releases/archive/May2023/09/c1555.html   ",
        "score": 5.655754603377843
      },
      {
        "website": "https://finance.yahoo.com/m/82655a1e-7923-3b35-91a4-ae677f261e85/discovering-hiv-started-%27race.html",
        "content": "Yahoo Finance Discovering HIV started 'race against time': Barre-Sinoussi Show Ad    When Nobel laureate Francoise Barre-Sinoussi helped identify a mysterious virus that would become known as HIV 40 years ago, she says it kicked off a \"race against time\" to counter the looming AIDS crisis. In an interview with AFP, the 75-year-old virologist described how she and colleagues at the Pasteur Institute in Paris discovered HIV in 1983, which led to her jointly winning the Nobel Prize for Medicine. \"It all started in 1982,\" when doctors started sharing stories about the first French AIDS patients, France's Barre-Sinoussi said. \"They were convinced that a retrovirus could be responsible for this new disease.\" For more than a decade Barre-Sinoussi had been working on retroviruses, which on infection convert from the genetic material RNA into DNA, allowing them to easily integrate host cells. In January 1983, the team's strategy was to take a lymph node biopsy from a sick patient, then culture the cells in the lab looking for \"very specific enzymatic activity\", she said. Her French doctor colleagues thought that AIDS must be caused by HTLV-1, the only retrovirus known to directly cause cancer in humans. \"But our team did not believe in this hypothesis because this virus causes a proliferation of lymphocytes,\" Barre-Sinoussi said. AIDS patients had lower rates of this important immune cell. \"Something didn't add up,\" she said. \"In May 1983, we isolated the virus and demonstrated that it was a retrovirus that was different from HTLV-1. But we were not yet certain that it caused AIDS.\" That was confirmed the following year by US scientist Robert Gallo. This caused a transatlantic rift over who discovered HIV, with the United States and France eventually agreeing that both Gallo and the Pasteur team led by Luc Montagnier should get joint credit. - 'Enormous' challenge ahead - Finally, researchers around the world had a target to aim for in their efforts to combat AIDS, which was rapidly spreading and devastating communities. \"From then on, the task was enormous because we were faced with an unknown virus,\" Barre-Sinoussi said. \"We had to learn everything about it, find out what proteins it contained, its genetic material, what type of cells it infected, the consequences of this infection.\" A crucial first step was to develop tests as quickly as possible, both to diagnose patients and to demonstrate that HIV only infected AIDS patients. \"Only then could strategies be considered to try to block it,\" she said. \"It was a race against time because we realised that the virus was transmitted by blood, sex and from mother to child.\" The endeavour required the swift mobilisation of immunologists, molecular biologists and doctors, she said. Not to mention patients, even though scientists knew \"we would not have time to find a treatment that could save them\", she said. \"We found ourselves faced with people who came to the Pasteur Institute to ask us questions about the virus,\" she said. \"It was very difficult.\" - Nobel 'recognised a community' - In 2008, Barre-Sinoussi and her former mentor, Luc Montagnier, jointly received the Nobel medicine prize for the discovery of HIV. \"I was in Cambodia when I heard the news. It was a huge surprise. I did not expect it all,\" Barre-Sinoussi said. \"People living with HIV in the country came up to me with smiles and bouquets of flowers. \"I understood that this prize recognised a community that had been working together from the beginning.\" \"All levels of society have been affected by HIV/AIDS, which has always been a battle on multiple fronts -- scientific of course, but also political, societal (and) against pharmaceutical companies,\" she said. When she started her career, \"I was a researcher who never left the laboratory\", she said. But after helping discover HIV, things changed. \"I suddenly found myself faced with things that I never imagined possible, such as the general public's lack of tolerance towards certain people,\" she said. \"Patients were stigmatised, abandoned by their families, their friends, sometimes by health professionals. Some lost their homes, their jobs.\" Barre-Sinoussi said that she had also \"learned a lot about inequalities, which unfortunately may have become even worse today\". Throughout her long career, Barre-Sinoussi worked continuously towards finding a cure for HIV, serving as the president of the International AIDS Society a decade ago. She retired in 2017. ito/dl/gil/jm/smw   ",
        "score": 5.072043486816215
      },
      {
        "website": "https://finance.yahoo.com/m/9c21a55a-360f-3d04-9cb7-e09b4321e0b2/olo-%28olo%29-q1-2023-earnings.html",
        "content": "Yahoo Finance Olo (OLO) Q1 2023 Earnings Call Transcript Show Ad    At this time, I would like to welcome everyone to the Olo first quarter 2023 earnings conference call. Joining me today are Noah Glass, Olo's Founder and CEO; and Peter Benevides, Olo's CFO. During our call today, some of our discussions and responses to your questions may contain forward-looking statements, which represent our beliefs and assumptions only as of the date such statements are made.   ",
        "score": 6.3125
      }
    ]
  }
}