欢迎莅临。
Welcome to be one medicine. We want to thank you for coming to see me. Good morning. Good morning to you. Thank you for coming. I’ll just speak a little. There will be questions. Questions. I’ll be glad to answer them. Good morning. Hello everyone. Thanks for joining us. I’m Daniel Adams, an investor in be one medicine. If you begin to know that you can find additional material related to this podcast and presentation on the investor relations section of our website, I am Daniel Adams. I would like to remind all participants that during this call, we may make forward-looking statements regarding our business and the company’s future prospects and strategies. Actual results may differ materially from those indicated, and forward-looking statements are subject to various risks, including risks discussed in our presentation. During today’s presentation, we will discuss the following topics: our financials, our presentation, which includes our FYAR website, along with our release, our presentation and its presentation slides, as well as the presentation and take your questions from me. Thank you for joining us. Now, during this call, as outlined earlier, January 2020 was a very strong year for be one medicine. Our revenue was over 1.05 billion, and revenue growth was 20.26%. And we will present well-known performance and trends for FYAR and FYAR performance in 2026. And we will present well-known performance and trends for 2026 revenue guidance for 101 and various other trends. And we will discuss later our FYAR and FYAR transaction and this year’s growth trends. So overall, our business is rapidly progressing with the proof of one’s pivotal trial milestone. The expected in the year. Both our transaction and our solid performance will be on display next year. We will have over 60 acceptance. Last year, we will present proof of concept data from three exciting solid performance, moving into late stage clinical trials, which I will tell you more about shortly. All in that, by highlighting the exceptional commercial and clinical progress of Rukenda, which is firmly established, and the foundational BTK inhibitor, Rukenda continues globally to strengthen the global BTK market with first quarter sales of 1.1 billion, representing growth of 38%. We are seeing strong performance in all markets and all indications. Rukenda’s large and expanding body of clinical and real-world evidence has evidenced that our progress is possible in CLL. We believe that the show that all Rukenda provides long-term outcomes, the patients and physicians should expect and should demand. From inception, Rukenda was designed to provide the best in class 2024 BTK inhibition. Our purpose was to achieve complete and sustained BTK inhibition, which resulted in superior therapeutic profile. And as of now, it’s almost 7 years since we have covered the next few slides. Last 2025, Rukenda’s new standards for FYAR with six-year progression-free survival of 44% and overall survival of 84%. The outstanding for COVID, there was 77% for PFS and 87% for OS at six years. Still, all the evidence and admittedly much of the progress of our patients for the first three years looks similar, but outcomes beyond those are truly matters of patients. So this slide will on the scatter plot focuses on the landmark progression-free PFS in years three to six across these trials and provide CLL on the left. We see the data for Rukenda and the two continuous BTK inhibitors, representing the limitation of cross-trial comparisons. The early landmark PFS rates for Rukenda are higher and continuous over time. In year six, that reaches a delta of 11%. The one and one patients not present on the right. We see even more pronounced delta between Rukenda’s landmark PFS and that of fixed-duration regimen, such as BCL in year six, that reaches a delta of 11%. Overall, one five patients in each population, which is the majority of CLL patients, the difference between continuous Rukenda and BCL is 27%, which is more than one-four patients who started the study. Now, AVE has not reported the long-term landmark PFS data to be fully represented on this chart, but we know that the sample size studied in young population, which has 561 versus the 577 in the lower PFS of many regimen, and for years, the last sample size data was April 2024 over two years ago. Additional follow-up data has not been provided. Of course, exists. Rukenda is the only BTK inhibitor that demonstrates superior efficacy versus RIN and the trial. Here, we can see the sample size for Rukenda and other BTK inhibitors in our respective trials versus RIN and last for fixed BTK naive CLL patients. Rukenda demonstrates superiority with a hazard ratio of 0.26 and P value of 0.0001. When we present the initial early data for the CLL patient, the universal feedback was this is great, but in the lenses, we did see longer follow-up, and there was an important scientific reason for that. The RIN has no tolerability issues, the potential adverse patient ability to stay on the therapy during early treatment. In reality, our study of Rukenda had previously showed early PFS separation from RIN, but early separation was not sustained. As you can see in the middle panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, and roughly 31% at the fourth year hazard ratio of one. And yeah, our early separation was increased signal CLL progression from 1 to 1 with Rukenda sustained separation from RIN, but that early separation was not sustained. As you can see in the now panel, a Rukenda actually crossed over and became nearly worse than RIN, andNet income total 227 million, with GAAP diluted earnings per share of one dollar and ninety cents. Our net capital includes investments for third parties with fractionalization provided in appendix. Net income from operations total 414 million in the first quarter, from 139 million in the prior period, and our net income came to 375 million for the first quarter, which translates to diluted net income per share of three dollars and twenty-four cents. We generated free cash flow of 161 million in the first quarter, an increase of 173 million over the prior period. Net operating and free cash flow for the first quarter to the working capital seasonality. Now turning to 2026 guidance update, we expect we see forward analysis with strong growth and with relatively low pricing, growth is anticipated in all markets and will benefit from continued global expansion. And we anticipate modest, for additional contribution from launches of data and software, and our guiding corporate all and anticipated competitive market dynamics. Given our 2024 sales and revenue trend, we project 2026 revenue to be between 6.3 billion to 6.5 billion, an increase of 100 million across the line. Our estimated GAAP gross margin remains the high 8 percent range, with continued benefit from mix and a full year of productivity improvements implemented this year. GAAP operating expense expectations are unchanged between 4.7 billion and 4.9 billion. Given our planned improvements, GAAP operating income estimates are updated to be between 750 and 850 million, with corresponding GAAP operating income. In summary, we are pleased with our third year and confident with 2026 shaping up, and with that, I’d like to pass the call over to you. Thank you, everyone, for joining us today. This highlights recent progress across the pipeline. In our technology development study, implementation of our main track will include three areas of specialness: supporting a potential for the team improvements in this year, solving the potential inflation, which us, due for decision, expect some alongside utilization and small scale inclusion. All be considered continuing events with potential capital base improvements in us, with various and water stream and the phase three had had started for the third quarter, completing in early 2027. In solutions, we will receive the U.S. party review and production guidance in parallel. The second quarter has had active its first phase three site, and the GPS three one BB bias effect is in a potential capital existence. Additionally, we have other exclusive option to license a novel BBV CA for 25, which is expected to the next year. In March, we made a data decision not to pursue a request for in the material side. What be considered successful study is on track to initiate by end. The progress you just saw reflects the very deliberate way we are building our pipeline. Our strategy starts with focus selecting a small number of diseases where we believe can lead and then building that not just the single set. What enables the approach is our in-house technology stack, spanning that novel therapies, drugs and emerging platforms like these issues. What allows us to build our platform long, we systematically validate our ideas with a variety of different platforms that is deep and sustainable. And in 2027, from 2021, we delivered eleven new market entities, building the foundation with assets like Zanu and Tesla. Between 2021 and 2023, we added 10 entities demonstrating consistent productivity and execution. The momentum stepped up again in the last year, with 18 entities across small molecules, CDEs and bi and transposable is reflecting the maturity of our in-house platforms. Looking ahead, we expect the trend of rapid CAPEX play from 2026 and beyond, innovation to be one accelerating, systematic and be two scale. As innovation and experience, there’s producing broad potential for customer pipeline across our disease areas. We have built that with multiple mechanisms and modalities, creating within the same indication. This is important because it creates new opportunities for cooperation combinations, developing in our portfolio, which drives higher investment rather than relying on external assets. 2026 marks the beginning year for our solution portfolio. After several of these plans, builds, we now have a new way of new way of program advancing toward resolution. In breadth, our CDFI activity is moving to latest development in large water studies. What be some of these continue to advance within current knowledge in collaboration with investors. In depth, the GPS three one BB bias effect represents a focused, first-class approach designed specifically for CCE, with potential capital study acceleration. We also advancing our P and F two, which is already being validated in first lines. On the scoring, is potential relevance of the last result. Finally, based on exciting data, we’re planning to transform our CDFI for the strengthening the solution portfolio. Taken together, our solution pipeline is shifting from early promise to latest achievement, with multiple programs advancing toward meaningful milestones. What several of these programs are ahead are in large water studies, such as the fourth in breadth. There remains less creation for opportunities in the capitalization of MEC. That we said earlier, the most valuable new cancer and CCE is a clear example. That’s most common cancer worldwide is the slow leading cause of cancer deaths, reflecting the most valuable rates that are well below many other cancers. A truly different potential game-changing approach to setting meaningful improvement outcomes, and expand what is already a market-leading market. The magnitude you just saw in CDFI not only innovation, but ability to execute within the agency. Our first-in-class program GPS three one BB is a clear demonstration of our unprecedented unprecedented clinical execution capability. We move the first few months into rolling the first patient potential registration studies in just the ninth month. This is exceptionally fast for novel bias specific solutions. Our operation was completed in the sixth quarter, with over 200 patients in 20 months, including over 450 patients participating in combination with Tesla. That gives early experience of cost, clinical meaningfulness. Along the way, the program has received fast and often just as much buy-in. The bottom of this slide is the simple view of the potential capital study that will allow us to advance and progress. As 2023 starts, we have 24 accepted in phase three or presentations. Our scoring was the best and momentum of our pipeline. You will see the clinical updates across programs, including CDFI and GPS three one BB. These are our actual validation events on June 1st to more about our clinical data and what we are excited about this year. That be one. We move quickly to clinical concepts and advance only programs with strongest data into latest development. You can see how this plan is being applied across portfolio actions we are taking this year. We are having additional discoveries of programs that provide and CDFI, one asset like Adam NDC and Carjewon have recently entered the clinic. As time, we have made a data-driven prioritization decision. These programs are the key to these projects, medical and banking projects, allowing us to really push results toward the potential highest impact outcomes. This is exactly how our strategy is intended to work: move fast to prove concepts and then find more promising candidates and invest aggressively to maximize impact. You mentioned our focus on our internal pursuits, we’re further strengthening our pipeline through selective external innovation. Beyond 1.0 is a clear example of that. And represents a potential opportunity for our solution portfolio. What differentiates the first phase from BB bias effect is the addition of CDFI, which gives potential for a more durable impact. Importantly, this creates more opportunities for cooperation combinations across our pipeline, including CCE and the BB bias program. This program this this track and next next month. We have covered most milestones already. So we just crossed three remaining 2026 catalysts. First, we expect in this year’s long phase study, second plasma biomarker, and the third extending our beta two study in new important patient populations. Second, in the half of the second half of this year, assuming the data is positive, we expect accelerated progression for BB bias effect in the last last last quarter. And finally, when considering your portfolio, in first line, cooperative potential market for the most important solutions. I will now turn the baton. Thanks for now for all the questions. Thank you for the number questions. To ensure that we have time to hear from as many attendees as possible, our next question. Thank you. If you have questions, please raise your hand. Thank you. When you’re completely online, please stand. When you’re completely online, please stand. Thank you very much for the question. I’ll turn you to just highlight the only be taken to answer your questions. And I’ll find just the time and I’m just curious. I’m wondering if you’re comparing the results of the early years for first versus the recent years. Some of them are older, and everything is calling for the next year. Thank you. Thank you for asking. Appreciate and I’m happy to answer all of your questions. Yeah, happy to do that. Thank you for the question. So, on the two main big questions that we will be addressing today, we can only be the answers to be our true name in the head to head study. So, before I talk about some of the specific rules for the game, let me just talk about a couple important fundamental principles. So, only study when the two are being compared. The standard is practice based on evidence is actually the best by independent review from the IAC, rather than relying on investigators. This is for all the reason that investigators can’t be experimental or control. Also, it is important to ensure that there’s no disorders in investigators. And I’ll talk about that in因为我们的生意是围绕着我们的派生的，所以这是很困难的。
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因为我们的业务是我们的三万两千。
所以，我们的业务是我们的三万两千。
因为我们的业务是我们的三万两千。
所以，我们的业务是我们的三万两千。
因为我们的业务是我们的三万两千。
所以，我们的业务是我们的三万两千。
因为我们的业务是我们的三万两千。
所以，我们的业务是我们的三万两千。
因为我们的业务是我们的三万两千。
所以，我们的业务是我们的三万两千。
因为我们的业务是我们的三 that we are undoubtedly a growth company. You see that in our performance and our guidance. And the second, to do that in a sustainable way, which means driving continuous operating leverage. Now, we’ve talked about moving toward margin expansion continuously, but in a measured way that matches the opportunity in front of us. So we really like the setup to be able to to hit on both of those objectives and look forward to running the business and making a difference relative to our purpose for the long term. Thank you. Thanks a lot, Aaron. And I do want to thank everyone for participating in the call. I think, again, in summary, we delivered a very strong first quarter and a solid start to 2026. We executed against our priorities. We drove revenue growth and we’re raising our full year outlook. At the same time, as you can see, the pipeline is at a really critical phase of execution with foundational strength in immunology and a clear inflection point in solid tumors as our programs are advancing into later stage development. We have demonstrated again the power of the B1 Superhighway and our strategic competitive advantage that we have in executing, which helps make investment in R&D more attractive in our organization than other places in the industry. And again, the aspiration and vision of our company, which we feel closer to than we ever have, is to be the company that is creating the most impact for cancer patients globally. I mean, lots of medicines and lots of indications that are truly game-changing for patients. And I feel more confident today than I ever have that we’re on a path to being that company, not in decades, but in years. I really want to thank the patients and the families that we serve, our physicians and our partners, and our more than 12,000 colleagues and their families who focus and urgency make our progress possible. We’re really encouraged by the momentum. We’re confident where we’re headed, and we’re focused on developing medicines that are great for patients. So thank you all so much for joining us today, and have a wonderful week.。
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