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AngioDynamics Reports Fiscal Year 2025 Third Quarter Financial Results

LATHAM, N.Y.–(BUSINESS WIRE)–
AngioDynamics, Inc. (NASDAQ: ANGO), a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options, and improving quality of life for patients, today announced financial results for the third quarter of fiscal year 2025, which ended February 28, 2025.

Fiscal Year 2025 Third Quarter Highlights

	Quarter Ended February 28, 2025	Pro Forma* YoY Growth
Pro Forma* Net Sales	$72.0 million	9.2%
Med Tech Net Sales	$31.3 million	22.2%
Med Device Net Sales	$40.7 million	0.9%

• GAAP gross margin of 54.0%
• GAAP loss per share of $(0.11)
• Adjusted loss per share of $(0.08)
• Adjusted EBITDA of $1.3 million
• Initiated the AMBITION BTK RCT and Registry to generate definitive clinical evidence supporting the use of the Auryon Atherectomy System in treating below the knee lesions in patients with critical limb ischemia
• Published APEX-AV trial results in JSCAI demonstrating the safety and efficacy of the AlphaVac F18⁸⁵ System
• Received FDA 510(k) clearance for NanoKnife System for prostate tissue ablation
• Increasing fiscal year 2025 guidance for net sales, Med Tech net sales growth, gross margin, Adjusted EBITDA, and Adjusted EPS

*Pro forma results exclude the Dialysis and BioSentry businesses divested in June 2023 and the PICC and Midline product portfolios divested in February 2024, as well as the discontinued Radiofrequency and Syntrax products in February 2024.

“We are very pleased with our third quarter performance as we continued to drive strong topline growth and adjusted EBITDA profitability. Our ability to deliver consistently strong results comes as a result of the significant transformation we have undergone over the last few years to simplify our business and focus on large, fast-growing MedTech markets,” said Jim Clemmer, President and Chief Executive Officer of AngioDynamics. “To that end, we’re seeing impressive momentum across our MedTech franchise, which grew over 20% for the second quarter in a row, driven by growth within each of our MedTech platform technologies, Auryon, AngioVac, AlphaVac, and NanoKnife. In lock-step with this growth, we continue to improve gross margins and operational efficiency, which allowed us to deliver yet another quarter of positive adjusted EBITDA. Based on the quality of performance we have seen through fiscal 2025, we are increasing our fiscal full year guidance for all of our key metrics, including; total worldwide revenue, MedTech revenue growth, gross margin, adjusted EBITDA, and adjusted EPS.”

“As we look ahead, we are well positioned to deliver profitable growth going forward. With the many catalysts we have recently achieved, including FDA clearance for our NanoKnife System for prostate tissue ablation, our portfolio is the strongest it has been. With our improved operating leverage and strong balance sheet, we can continue to prudently invest to support high impact initiatives while remaining on track to hit our fiscal year 2026 profitability targets,” continued Mr. Clemmer.

Third Quarter 2025 Financial Results

Unless otherwise noted, all financial metrics and growth rates presented below are on a pro forma basis.

Net sales for the third quarter of fiscal year 2025 were $72.0 million, an increase of 9.2% compared to the prior-year quarter.

Med Tech net sales were $31.3 million, a 22.2% increase from $25.7 million in the prior-year period. Med Tech includes the Auryon peripheral atherectomy platform, the thrombus management platform, which includes the AlphaVac and AngioVac mechanical thrombectomy systems, and the NanoKnife irreversible electroporation platform.

Growth in the Med Tech segment for the quarter was driven by strength across all product lines, including Auryon sales of $13.9 million, which increased 17.3%, AngioVac sales of $6.8 million, which increased 23.1%, AlphaVac sales of $3.0 million, which increased 161.4%, and NanoKnife disposable sales of $4.9 million, which increased 16.2%. Total NanoKnife sales, including capital, of $6.3 million, increased 5.3%.

Med Device net sales were $40.7 million, an increase of 0.9% compared to $40.3 million in the prior-year period.

U.S. net sales in the third quarter of fiscal 2025 were $61.3 million, an increase of 9.9% from $55.8 million a year ago. International net sales were $10.7 million, an increase of 5.1%, compared to $10.1 million a year ago.

Gross margin for the third quarter of fiscal 2025 was 54.0%, which was 290 basis points up compared to the third quarter of fiscal 2024.

Gross margin for the Med Tech business was 62.5%, an increase of 100 basis points from the third quarter of fiscal 2024 driven by the growth of AngioVac sales, as well as a higher mix of Auryon hospital-based sales. Gross margin for the Med Device business was 47.4%, an increase of 300 basis points compared to the third quarter of fiscal 2024.

The Company recorded a non-pro forma GAAP net loss of $4.4 million, or a loss per share of $0.11, in the third quarter of fiscal 2025. Excluding the items shown in the non-GAAP reconciliation table below, adjusted net loss for the third quarter of fiscal 2025 was $3.1 million, or a loss per share of $0.08. This compares to an adjusted net loss during the fiscal third quarter of 2024 of $6.5 million, or a loss per share of $0.16.

Adjusted EBITDA in the third quarter of fiscal 2025, excluding the items shown in the non-GAAP reconciliation table below, was $1.3 million, compared to a loss of $3.6 million in the third quarter of fiscal 2024.

In the third quarter of fiscal 2025, the Company utilized $13.2 million in operating cash, and at February 28, 2025, the Company had $44.8 million in cash and cash equivalents compared to $54.1 million in cash and cash equivalents at November 30, 2024. This is in-line with the Company’s stated expectations following its second fiscal quarter. As the Company previously stated, in the fourth quarter of fiscal 2025, the Company expects to generate positive operating cash flow, ending with cash and cash equivalents around $55 million with zero debt. In addition, the Company remains on track to achieve positive operating cash flow for the full year of fiscal 2026.

Subsequent to the end of the third quarter of fiscal 2025, the Company announced that it secured a commitment from J.P. Morgan regarding a revolving line of credit agreement (“the revolver”), which allows the Company to draw down up to $25.0 million at its discretion. While the Company is well capitalized with existing cash on hand, the Company stated that entering into the revolver reflects good financial management and offers incremental flexibility to manage potential working capital fluctuations as part of its manufacturing transfer process without impacting its ability to execute on its strategic growth trajectory moving forward.

Auryon

Initiated AMBITION BTK RCT and Registry to Advance Treatment for Critical Limb Ischemia

The Company initiated the AMBITION BTK (below the knee) randomized controlled trial and registry to evaluate the effectiveness of the Auryon Atherectomy System in treating critical limb ischemia below the knee. The multicenter study will enroll up to 200 subjects across 30 sites for the RCT, plus up to 1,500 subjects in a companion registry, comparing the system in combination with standard balloon angioplasty versus angioplasty alone for below the knee lesions. This study builds on previous clinical success demonstrating the system’s ability to safely treat complex below the knee cases while effectively reducing clot burden.

AlphaVac

Announced Publication of APEX-AV Trial Results in JSCAI

The Company announced the publication of APEX-AV trial results in the Journal of the Society for Cardiovascular Angiography & Interventions, validating the safety, efficacy, and efficiency of the AlphaVac F18⁸⁵ System for pulmonary embolism treatment. The peer-reviewed study demonstrated a 35.5% reduction in clot burden, comparing favorably to other mechanical aspiration devices, with notable improvements in both RV/LV ratio and pulmonary artery pressures. The FDA-cleared device features a unique funnel tip design, optional wireless navigation, and blood loss mitigation, addressing a condition that affects approximately 900,000 individuals annually in the United States.

NanoKnife

Received FDA Clearance for The NanoKnife® System for Prostate Tissue Ablation

The Company received FDA 510(k) clearance for the NanoKnife System for prostate tissue ablation following the successful completion of the pivotal PRESERVE clinical study. The trial, which enrolled 121 patients across 17 clinical sites, met its primary effectiveness endpoint with 84% of men free from in-field, clinically significant disease at 12 months post-procedure, while preserving urinary continence in 95.4% of patients and maintaining erectile function sufficient for intercourse in 71.7% of patients. The NanoKnife System is the first and only non-thermal, radiation-free ablation technology for prostate treatment utilizing Irreversible Electroporation technology.

On January 8, 2025, the Company hosted a Virtual NanoKnife Investor Event, which provided insights into the NanoKnife System’s proprietary irreversible electroporation (IRE) technology and how it is poised to become the standard, function-preserving treatment for men with prostate tumors.

To access a replay of the event, visit HERE.

Fiscal Year 2025 Financial Guidance

For fiscal year 2025:

• The Company now expects net sales to be in the range of $285 to $288 million, up from previously issued guidance of $282 to $288 million, representing growth between 5.3% to 6.4% over fiscal 2024 pro forma revenue of $270.7 million

• The Company now expects Med Tech net sales to grow in the range of 14% to 16%, an increase from prior guidance of 12% to 15%

• The Company continues to expect Med Device net sales to be flat

• The Company now expects Gross Margin to be approximately 53% to 54%, an increase from prior guidance of 52% to 53%

• The Company now expects Adjusted EBITDA to be in the range of $4.0 to $5.0 million, an increase from prior guidance of $1.0 to $3.0 million, and compared to a pro forma Adjusted EBITDA loss of $3.2 million in fiscal 2024

• The Company now expects Adjusted loss per share in the range of $0.31 to $0.34, an improvement from prior guidance of a loss of $0.34 to $0.38. This updated guidance compares to a pro forma Adjusted loss per share of $0.45 in fiscal 2024

Guidance Metric	Guidance Action	Current Guidance (As of Apr. 2, 2025)	Previous Guidance (Issued on Jan. 8, 2025)
Net Sales	Increased	$285 – $288 million	$282 – $288 million
Med Tech Net Sales Growth	Increased	14 – 16%	12 – 15%
Med Device Net Sales Growth	Unchanged	Flat (unchanged)	Flat
Gross Margin	Increased	53 – 54%	52 – 53%
Adjusted EBITDA	Increased	$4.0 – $5.0 million	$1.0 – $3.0 million
Adjusted EPS	Increased	($0.31) – ($0.34)	($0.34) – ($0.38)

Conference Call

The Company’s management will host a conference call at 8:00 a.m. ET the same day to discuss the results. To participate in the conference call, dial 1-877-407-0784 (domestic) or +1-201-689-8560 (international).

This conference call will also be webcast and can be accessed from the “Investors” section of the AngioDynamics website at www.angiodynamics.com. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.

A recording of the call will also be available, until Wednesday, April 09, 2025 at 11:59 PM ET. To hear this recording, dial 1-844-512-2921 (domestic) or +1-412-317-6671 (international) and enter the passcode 13752371.

Virtual Cardiovascular Investor Event

AngioDynamics will host a virtual cardiovascular investor event immediately following the Company’s Fiscal 2025 Third Quarter Financial Results Conference Call which will start at 9:00am ET. The Company will provide investors a deeper dive into the cardiovascular technology portfolio and strategic vision.

Webcast Registration Link: https://viavid.webcasts.com/starthere.jsp?ei=1712212&tp_key=cedf6b19b1

Use of Non-GAAP Measures

Management uses non-GAAP measures to establish operational goals and believes that non-GAAP measures may assist investors in analyzing the underlying trends in AngioDynamics’ business over time. Investors should consider these non-GAAP measures in addition to, not as a substitute for or as superior to, financial reporting measures prepared in accordance with GAAP. In this news release, AngioDynamics has reported pro forma results, adjusted EBITDA, adjusted net income and adjusted earnings per share. Management uses these measures in its internal analysis and review of operational performance. Management believes that these measures provide investors with useful information in comparing AngioDynamics’ performance over different periods. By using these non-GAAP measures, management believes that investors get a better picture of the performance of AngioDynamics’ underlying business. Management encourages investors to review AngioDynamics’ financial results prepared in accordance with GAAP to understand AngioDynamics’ performance taking into account all relevant factors, including those that may only occur from time to time but have a material impact on AngioDynamics’ financial results. Please see the tables that follow for a reconciliation of non-GAAP measures to measures prepared in accordance with GAAP.

About AngioDynamics, Inc.

AngioDynamics is a leading and transformative medical technology company focused on restoring healthy blood flow in the body’s vascular system, expanding cancer treatment options and improving quality of life for patients.

The Company’s innovative technologies and devices are chosen by talented physicians in fast-growing healthcare markets to treat unmet patient needs. For more information, visit www.angiodynamics.com.

Safe Harbor

This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements regarding AngioDynamics’ expected future financial position, results of operations, cash flows, business strategy, budgets, projected costs, capital expenditures, products, competitive positions, growth opportunities, plans and objectives of management for future operations, as well as statements that include the words such as “expects,” “reaffirms,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “estimates,” “projects,” “optimistic,” or variations of such words and similar expressions, are forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. Investors are cautioned that actual events or results may differ materially from AngioDynamics’ expectations, expressed or implied. Factors that may affect the actual results achieved by AngioDynamics include, without limitation, the scale and scope of the COVID-19 global pandemic, the ability of AngioDynamics to develop its existing and new products, technological advances and patents attained by competitors, infringement of AngioDynamics’ technology or assertions that AngioDynamics’ technology infringes the technology of third parties, the ability of AngioDynamics to effectively compete against competitors that have substantially greater resources, future actions by the FDA or other regulatory agencies, domestic and foreign health care reforms and government regulations, results of pending or future clinical trials, overall economic conditions (including inflation, labor shortages and supply chain challenges including the cost and availability of raw materials), the results of on-going litigation, challenges with respect to third-party distributors or joint venture partners or collaborators, the results of sales efforts, the effects of product recalls and product liability claims, changes in key personnel, the ability of AngioDynamics to execute on strategic initiatives, the effects of economic, credit and capital market conditions, general market conditions, market acceptance, foreign currency exchange rate fluctuations, the effects on pricing from group purchasing organizations and competition, the ability of AngioDynamics to obtain regulatory clearances or approval of its products, or to integrate acquired businesses, as well as the risk factors listed from time to time in AngioDynamics’ SEC filings, including but not limited to its Annual Report on Form 10-K for the year ended May 31, 2024. AngioDynamics does not assume any obligation to publicly update or revise any forward-looking statements for any reason.

1https://www.wcrf.org/cancer-trends/prostate-cancer-statistics/

2 Cheng JY. The Prostate Cancer Intervention Versus Observation Trial (PIVOT) in Perspective. J Clin Med Res. 2013;5(4):266-268. doi:10.4021/jocmr1395w

3 Data on file.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)
	Three Months Ended												Three Months Ended
	Actual (1)				Pro Forma Adjustments (2)				Pro Forma				As Reported (1)				Pro Forma Adjustments (2)				Pro Forma
	Feb 28, 2025				Feb 28, 2025				Feb 28, 2025				Feb 29, 2024				Feb 29, 2024				Feb 29, 2024
					(unaudited)												(unaudited)
Net sales	$	72,004				9			$	72,013			$	75,182				(9,211	)		$	65,971
Cost of sales (exclusive of intangible amortization)		33,147				6				33,153				39,321				(7,038	)			32,283
Gross profit		38,857				3				38,860				35,861				(2,173	)			33,688
% of net sales		54.0	%							54.0	%			47.7	%							51.1	%
Operating expenses
Research and development		6,913				—				6,913				8,189				(117	)			8,072
Sales and marketing		25,504				—				25,504				25,405				(1,758	)			23,647
General and administrative		10,490				—				10,490				10,578				22				10,600
Amortization of intangibles		2,598				—				2,598				3,287				(643	)			2,644
Goodwill impairment		—				—				—				159,476				—				159,476
Change in fair value of contingent consideration		40				—				40				112				—				112
Acquisition, restructuring and other items, net		3,286				(3	)			3,283				35,367				(6,266	)			29,101
Total operating expenses		48,831				(3	)			48,828				242,414				(8,762	)			233,652
Gain on sale of assets		—				—				—				6,657				(6,657	)			—
Operating loss		(9,974	)			6				(9,968	)			(199,896	)			(68	)			(199,964	)
Interest income, net		135				—				135				394				—				394
Other income (expense), net		5,430				(5,500	)			(70	)			(238	)			—				(238	)
Total other income, net		5,565				(5,500	)			65				156				—				156
Loss before income tax benefit		(4,409	)			(5,494	)			(9,903	)			(199,740	)			(68	)			(199,808	)
Income tax expense (benefit)		(2	)			—				(2	)			(12,004	)			—				(12,004	)
Net loss	$	(4,407	)		$	(5,494	)		$	(9,901	)		$	(187,736	)		$	(68	)		$	(187,804	)
Loss per share
Basic	$	(0.11	)						$	(0.24	)		$	(4.67	)						$	(4.67	)
Diluted	$	(0.11	)						$	(0.24	)		$	(4.67	)						$	(4.67	)
Weighted average shares outstanding
Basic		40,853								40,853				40,234								40,234
Diluted		40,853								40,853				40,234								40,234

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the three months ended February 28, 2025 and February 29, 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(in thousands, except per share data)
	Nine Months Ended												Nine Months Ended
	Actual (1)				Pro Forma Adjustments (2)				Pro Forma				As Reported (1)				Pro Forma Adjustments (2)				Pro Forma
	Feb 28, 2025				Feb 28, 2025				Feb 28, 2025				Feb 29, 2024				Feb 29, 2024				Feb 29, 2024
					(unaudited)												(unaudited)
Net sales	$	212,340				188			$	212,528			$	232,934				(33,336	)		$	199,598
Cost of sales (exclusive of intangible amortization)		96,853				155				97,008				116,751				(24,121	)			92,630
Gross profit		115,487				33				115,520				116,183				(9,215	)			106,968
% of net sales		54.4	%							54.4	%			49.9	%							53.6	%
Operating expenses
Research and development		19,632				—				19,632				24,788				(647	)			24,141
Sales and marketing		76,698				—				76,698				78,237				(4,714	)			73,523
General and administrative		31,856				—				31,856				30,723				(52	)			30,671
Amortization of intangibles		7,730				—				7,730				10,474				(2,571	)			7,903
Goodwill impairment		—				—				—				159,476				—				159,476
Change in fair value of contingent consideration		272				—				272				203				—				203
Acquisition, restructuring and other items, net		13,465				161				13,626				44,767				(6,394	)			38,373
Total operating expenses		149,653				161				149,814				348,668				(14,378	)			334,290
Gain on sale of assets		—				—				—				54,499				(54,499	)			—
Operating loss		(34,166	)			(128	)			(34,294	)			(177,986	)			(49,336	)			(227,322	)
Interest income, net		975				—				975				1,047				—				1,047
Other income (expense), net		5,269				(5,500	)			(231	)			(558	)			—				(558	)
Total other income, net		6,244				(5,500	)			744				489				—				489
Loss before income tax benefit		(27,922	)			(5,628	)			(33,550	)			(177,497	)			(49,336	)			(226,833	)
Income tax expense (benefit)		21				—				21				(6,597	)			—				(6,597	)
Net loss	$	(27,943	)		$	(5,628	)		$	(33,571	)		$	(170,900	)		$	(49,336	)		$	(220,236	)
Loss per share
Basic	$	(0.68	)						$	(0.82	)		$	(4.26	)						$	(5.49	)
Diluted	$	(0.68	)						$	(0.82	)		$	(4.26	)						$	(5.49	)
Weighted average shares outstanding
Basic		40,809								40,809				40,098								40,098
Diluted		40,809								40,809				40,098								40,098

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the nine months ended February 28, 2025 and February 29, 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data)
Reconciliation of Net Loss to non-GAAP Adjusted Net Income (Loss):
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Net loss	$	(4,407	)		$	(187,736	)		$	(27,943	)		$	(170,900	)
Amortization of intangibles		2,598				3,287				7,730				10,474
Change in fair value of contingent consideration		40				112				272				203
Acquisition, restructuring and other items, net (1)		3,286				35,367				13,465				44,767
Goodwill impairment		—				159,476				—				159,476
Gain on sale of assets		—				(6,657	)			—				(54,499	)
Tax effect of non-GAAP items (2)		(350	)			(10,128	)			1,506				(2,670	)
Adjusted net income (loss)	$	1,167			$	(6,279	)		$	(4,970	)		$	(13,149	)
Reconciliation of Diluted Loss Per Share to non-GAAP Adjusted Diluted Income (Loss) Per Share:
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Diluted loss per share	$	(0.11	)		$	(4.67	)		$	(0.68	)		$	(4.26	)
Amortization of intangibles		0.06				0.08				0.19				0.26
Change in fair value of contingent consideration		0.01				0.00				0.01				0.01
Acquisition, restructuring and other items, net (1)		0.08				0.89				0.32				1.11
Goodwill impairment		—				3.96				—				3.98
Gain on sale of assets		—				(0.17	)			—				(1.36	)
Tax effect of non-GAAP items (2)		(0.01	)			(0.25	)			0.04				(0.07	)
Adjusted diluted income (loss) per share	$	0.03			$	(0.16	)		$	(0.12	)		$	(0.33	)
Adjusted diluted sharecount (3)		42,091				40,234				40,809				40,098

(1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.

(2) Adjustment to reflect the income tax provision on a non-GAAP basis has been calculated assuming no valuation allowance on the Company’s U.S. deferred tax assets and an effective tax rate of 23% for the periods ended February 28, 2025 and February 29, 2024.

(3) Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP loss.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION (Continued)
(in thousands, except per share data)
Reconciliation of Net Loss to Adjusted EBITDA:
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Net loss	$	(4,407	)		$	(187,736	)		$	(27,943	)		$	(170,900	)
Income tax expense (benefit)		(2	)			(12,004	)			21				(6,597	)
Interest income, net		(135	)			(394	)			(975	)			(1,047	)
Depreciation and amortization		6,319				7,522				19,967				20,895
Goodwill impairment		—				159,476				—				159,476
Change in fair value of contingent consideration		40				112				272				203
Stock based compensation		2,398				2,612				8,131				8,633
Acquisition, restructuring and other items, net (1)		2,623				34,232				10,239				43,632
Gain on sale of assets		—				(6,657	)			—				(54,499	)
Adjusted EBITDA	$	6,836			$	(2,837	)		$	9,712			$	(204	)

(1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION
(in thousands, except per share data)
Reconciliation of Pro Forma Net Loss to Pro Forma Adjusted Net Loss:
	Pro Forma								Pro Forma
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Pro forma net loss	$	(9,901	)		$	(187,804	)		$	(33,571	)		$	(220,236	)
Amortization of intangibles		2,598				2,644				7,730				7,903
Change in fair value of contingent consideration		40				112				272				203
Acquisition, restructuring and other items, net (1)		3,283				29,101				13,626				38,373
Goodwill impairment		—				159,476				—				159,476
Tax effect of non-GAAP items (2)		914				(10,055	)			2,763				(1,795	)
Adjusted pro forma net loss	$	(3,066	)		$	(6,526	)		$	(9,180	)		$	(16,076	)
Reconciliation of Pro Forma Diluted Loss Per Share to Pro Forma Adjusted Diluted Loss Per Share:
	Pro Forma								Pro Forma
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Pro forma diluted loss per share	$	(0.24	)		$	(4.67	)		$	(0.82	)		$	(5.49	)
Amortization of intangibles		0.06				0.07				0.19				0.20
Change in fair value of contingent consideration		0.01				0.01				0.01				0.01
Acquisition, restructuring and other items, net (1)		0.07				0.72				0.33				0.94
Goodwill impairment		—				3.96				—				3.98
Tax effect of non-GAAP items (2)		0.02				(0.25	)			0.07				(0.04	)
Adjusted pro forma diluted loss per share	$	(0.08	)		$	(0.16	)		$	(0.22	)		$	(0.40	)
Adjusted diluted sharecount (3)		40,853				40,234				40,809				40,098

(1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.

(2) Adjustment to reflect the income tax provision on a non-GAAP basis has been calculated assuming no valuation allowance on the Company’s U.S. deferred tax assets and an effective tax rate of 23% for the periods ended February 28, 2025 and February 29, 2024.

(3) Diluted shares may differ for non-GAAP measures as compared to GAAP due to a GAAP loss.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
GAAP TO NON-GAAP RECONCILIATION (Continued)
(in thousands, except per share data)
Reconciliation of Pro Forma Net Loss to Pro Forma Adjusted EBITDA:
	Pro Forma								Pro Forma
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Pro forma net loss	$	(9,901	)		$	(187,804	)		$	(33,571	)		$	(220,236	)
Income tax expense (benefit)		(2	)			(12,004	)			21				(6,597	)
Interest income, net		(135	)			(394	)			(975	)			(1,047	)
Depreciation and amortization		6,319				6,861				19,967				18,234
Goodwill impairment		—				159,476				—				159,476
Change in fair value of contingent consideration		40				112				272				203
Stock based compensation		2,398				2,142				8,131				8,000
Acquisition, restructuring and other items, net (1)		2,620				27,966				10,400				37,238
Adjusted EBITDA	$	1,339			$	(3,645	)		$	4,245			$	(4,729	)

(1) Includes costs related to merger and acquisition activities, restructuring, and unusual items, including asset impairments and write-offs, certain litigation, and other items.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
ACQUISITION, RESTRUCTURING, AND OTHER ITEMS, NET DETAIL
(in thousands)
	Three Months Ended								Nine Months Ended
(in thousands)	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
Legal (1)	$	—			$	23,314			$	406			$	30,453
Mergers and acquisitions		—				147				737				399
Plant closure (2)		3,130				5,426				11,820				6,115
Intangible and other asset impairment		—				6,260				—				6,260
Transition service agreement (3)		(463	)			(333	)			(1,424	)			(655	)
Manufacturing relocation (4)		—				—				—				587
Other (5)		619				553				1,926				1,608
Total	$	3,286			$	35,367			$	13,465			$	44,767

(1) Legal expenses related to litigation that is outside the normal course of business. For the three and nine months ended February 29, 2024, a $19.3 million settlement expense was recorded as a result of the Settlement Agreement that was entered into between the Company and BD.

(2) Plant closure expenses, related to the restructuring of our manufacturing footprint which was announced on January 5, 2024.

(3) Transition services agreements that were entered into with Merit and Spectrum.

(4) Expenses to relocate certain manufacturing lines out of Queensbury, NY.

(5) Included in the $1.6 million in other for the nine months ended February 29, 2024 is $0.9 million of deferred financing fees that were written-off in conjunction with the sale of the Dialysis and BioSentry businesses and concurrent extinguishment of the debt.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
NET SALES BY PRODUCT CATEGORY AND BY GEOGRAPHY
(in thousands)
	Three Months Ended							Three Months Ended
	Actual (1)		Pro Forma Adj. (2)		Pro Forma			As Reported (1)		Pro Forma Adj. (2)			Pro Forma			Actual							Pro Forma
	Feb 28, 2025		Feb 28, 2025		Feb 28, 2025			Feb 29, 2024		Feb 29, 2024			Feb 29, 2024			% Growth		Currency Impact		Constant Currency Growth			% Growth		Currency Impact		Constant Currency Growth
			(unaudited)							(unaudited)
Net Sales
Med Tech	$	31,341	$	—	$	31,341		$	25,844	$	(190	)	$	25,654		21.3	%						22.2	%
Med Device		40,663		9		40,672			49,338		(9,021	)		40,317		(17.6	)%						0.9	%
	$	72,004	$	9	$	72,013		$	75,182	$	(9,211	)	$	65,971		(4.2	)%	0.2	%	(4.0	)%		9.2	%	0.2	%	9.4	%
Net Sales
United States	$	61,340	$	4	$	61,344		$	62,342	$	(6,521	)	$	55,821		(1.6	)%						9.9	%
International		10,664		5		10,669			12,840		(2,690	)		10,150		(16.9	)%	1.1	%	(15.8	)%		5.1	%
	$	72,004	$	9	$	72,013		$	75,182	$	(9,211	)	$	65,971		(4.2	)%	0.2	%	(4.0	)%		9.2	%	0.2	%	9.4	%

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the three months ended February 28, 2025 and February 29, 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

GROSS PROFIT BY PRODUCT CATEGORY
(in thousands)
	Three Months Ended									Three Months Ended
	Actual (1)			Pro Forma Adj. (2)		Pro Forma				As Reported (1)			Pro Forma Adj. (2)			Pro Forma				Actual			Pro Forma
	Feb 28, 2025			Feb 28, 2025		Feb 28, 2025				Feb 29, 2024			Feb 29, 2024			Feb 29, 2024				% Change			% Change
	(unaudited)									(unaudited)
Med Tech	$	19,588		$	—	$	19,588			$	15,857		$	(83	)	$	15,774			23.5	%		24.2	%
Gross profit % of sales		62.5	%				62.5	%			61.4	%					61.5	%
Med Device	$	19,269		$	3	$	19,272			$	20,004		$	(2,090	)	$	17,914			(3.7	)%		7.6	%
Gross profit % of sales		47.4	%				47.4	%			40.5	%					44.4	%
Total	$	38,857		$	3	$	38,860			$	35,861		$	(2,173	)	$	33,688			8.4	%		15.4	%
Gross profit % of sales		54.0	%				54.0	%			47.7	%					51.1	%

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the three months ended February 28, 2025 and February 29, 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
NET SALES BY PRODUCT CATEGORY AND BY GEOGRAPHY
(in thousands)
	Nine Months Ended							Nine Months Ended
	Actual (1)		Pro Forma Adj. (2)		Pro Forma			As Reported (1)		Pro Forma Adj. (2)			Pro Forma			Actual							Pro Forma
	Feb 28, 2025		Feb 28, 2025		Feb 28, 2025			Feb 29, 2024		Feb 29, 2024			Feb 29, 2024			% Growth		Currency Impact		Constant Currency Growth			% Growth		Currency Impact		Constant Currency Growth
			(unaudited)							(unaudited)
Net Sales
Med Tech	$	90,863	$	—	$	90,863		$	77,068	$	(443	)	$	76,625		17.9	%						18.6	%
Med Device		121,477		188		121,665			155,866		(32,893	)		122,973		(22.1	)%						(1.1	)%
	$	212,340	$	188	$	212,528		$	232,934	$	(33,336	)	$	199,598		(8.8	)%	0.0	%	(8.8	)%		6.5	%	0.1	%	6.6	%
Net Sales
United States	$	183,499	$	14	$	183,513		$	190,743	$	(23,098	)	$	167,645		(3.8	)%						9.5	%
International		28,841		174		29,015			42,191		(10,238	)		31,953		(31.6	)%	0.4	%	(31.2	)%		(9.2	)%
	$	212,340	$	188	$	212,528		$	232,934	$	(33,336	)	$	199,598		(8.8	)%	0.0	%	(8.8	)%		6.5	%	0.1	%	6.6	%

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the nine months ended February 28, 2025 and February 29, 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

GROSS PROFIT BY PRODUCT CATEGORY
(in thousands)
	Nine Months Ended									Nine Months Ended
	Actual (1)			Pro Forma Adj. (2)		Pro Forma				As Reported (1)			Pro Forma Adj. (2)			Pro Forma				Actual			Pro Forma
	Feb 28, 2025			Feb 28, 2025		Feb 28, 2025				Feb 29, 2024			Feb 29, 2024			Feb 29, 2024				% Change			% Change
	(unaudited)									(unaudited)
Med Tech	$	57,398		$	—	$	57,398			$	48,400		$	(155	)	$	48,245			18.6	%		19.0	%
Gross profit % of sales		63.2	%				63.2	%			62.8	%					63.0	%
Med Device	$	58,089			33	$	58,122			$	67,783		$	(9,060	)	$	58,723			(14.3	)%		(1.0	)%
Gross profit % of sales		47.8	%				47.8	%			43.5	%					47.7	%
Total	$	115,487		$	33	$	115,520			$	116,183		$	(9,215	)	$	106,968			(0.6	)%		8.0	%
Gross profit % of sales		54.4	%				54.4	%			49.9	%					53.6	%

(1) Reflects the Company’s US GAAP consolidated financial statements before pro forma adjustments related to the sale of the Dialysis and BioSentry Businesses on June 8, 2023, the sale of the PICCs and Midlines Businesses on February 15, 2024 and the discontinuation of the RadioFrequency Ablation and Syntrax products (“the Businesses”) as of February 29, 2024, for the nine months ended February 28, 2025 and 2024.

(2) Reflects the elimination of revenues and expenses representing the operating results from the sales and discontinuation of the Businesses.

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in thousands)
	Feb 28, 2025			May 31, 2024
	(unaudited)			(audited)
Assets
Current assets:
Cash and cash equivalents	$	44,760		$	76,056
Accounts receivable, net		43,468			43,610
Inventories		63,105			60,616
Earn-out receivable		5,500			—
Prepaid expenses and other		15,440			12,971
Total current assets		172,273			193,253
Property, plant and equipment, net		32,530			35,666
Other assets		9,681			11,369
Intangible assets, net		70,931			77,383
Total assets	$	285,415		$	317,671
Liabilities and stockholders’ equity
Current liabilities:
Accounts payable	$	30,265		$	37,751
Accrued liabilities		36,949			41,098
Current portion of contingent consideration		5,000			4,728
Other current liabilities		5,757			7,578
Total current liabilities		77,971			91,155
Deferred income taxes		4,203			4,852
Other long-term liabilities		17,371			16,078
Total liabilities		99,545			112,085
Stockholders’ equity		185,870			205,586
Total Liabilities and Stockholders’ Equity	$	285,415		$	317,671

ANGIODYNAMICS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
	Three Months Ended								Nine Months Ended
	Feb 28, 2025				Feb 29, 2024				Feb 28, 2025				Feb 29, 2024
	(unaudited)								(unaudited)
Cash flows from operating activities:
Net loss	$	(4,407	)		$	(187,736	)		$	(27,943	)		$	(170,900	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		6,319				7,522				19,967				20,895
Non-cash lease expense		503				484				1,496				1,441
Stock based compensation		2,398				2,612				8,131				8,633
Gain on disposal of assets		—				(6,657	)			—				(54,499	)
Transaction costs for disposition		—				(2,657	)			—				(5,084	)
Change in fair value of contingent consideration		40				112				272				203
Impairment loss on indefinite-lived intangible assets (1)		—				159,476				—				159,476
Deferred income taxes		(207	)			(12,094	)			(795	)			(7,143	)
Change in accounts receivable allowances		142				458				530				1,007
Fixed and intangible asset impairments and disposals		38				6,845				97				7,084
Write-off of other assets		—				—				—				869
Other		30				299				149				161
Changes in operating assets and liabilities:
Accounts receivable		(474	)			1,668				(424	)			2,345
Inventories		2,810				2,019				(2,493	)			(6,825	)
Prepaid expenses and other		(9,387	)			(2,587	)			(9,459	)			(7,566	)
Accounts payable, accrued and other liabilities		(10,964	)			17,710				(18,467	)			16,744
Net cash used in operating activities		(13,159	)			(12,526	)			(28,939	)			(33,159	)
Cash flows from investing activities:
Additions to property, plant and equipment		(1,798	)			(607	)			(3,687	)			(1,952	)
Additions to placement and evaluation units		(1,391	)			(1,239	)			(3,868	)			(3,245	)
Acquisition of intangibles		—				(3,250	)			—				(3,250	)
Proceeds from sale of assets		—				34,500				—				134,500
Net cash (used in) provided by investing activities		(3,189	)			29,404				(7,555	)			126,053
Cash flows from financing activities:
Repayment of long-term debt		—				—				—				(50,000	)
Payment of acquisition related contingent consideration		—				—				—				(10,000	)
Principal payments on finance arrangement		(58	)			—				(58	)			—
Proceeds from finance arrangement		6,310				—				6,310				—
Repurchase of common stock		—				—				(1,670	)			—
Proceeds from exercise of stock options and employee stock purchase plan		895				694				933				752
Net cash provided by (used) in financing activities		7,147				694				5,515				(59,248	)
Effect of exchange rate changes on cash and cash equivalents		(128	)			(17	)			(317	)			185
Increase (decrease) in cash and cash equivalents		(9,329	)			17,555				(31,296	)			33,831
Cash and cash equivalents at beginning of period		54,089				60,896				76,056				44,620
Cash and cash equivalents at end of period	$	44,760			$	78,451			$	44,760			$	78,451

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250402329970/en/

Investors:

AngioDynamics, Inc.

Stephen Trowbridge, Executive Vice President & CFO

(518) 795-1408

[email protected]

Media:

Saleem Cheeks

Vice President, Communications

518-795-1174

[email protected]

KEYWORDS: United States North America New York

INDUSTRY KEYWORDS: Oncology Medical Devices Health Health Technology General Health Cardiology

MEDIA:

Posted on April 2, 2025 6:33 am

Hope Bancorp Completes Merger With Territorial Bancorp

Hope Bancorp Completes Merger With Territorial Bancorp

LOS ANGELES–(BUSINESS WIRE)–
Hope Bancorp, Inc. (“Hope Bancorp”) (NASDAQ: HOPE), the holding company of Bank of Hope, today announced the completion of its merger with Honolulu-based Territorial Bancorp Inc. (“Territorial”), the holding company for Territorial Savings Bank. Effective as of April 2, 2025, Territorial Savings Bank will operate under the trade name Territorial Savings, a division of Bank of Hope, preserving the 100-plus year legacy of the Territorial brand, culture and commitment to local communities.

“We are excited to have completed this combination and to officially welcome Territorial customers and team members to the Bank of Hope family,” stated Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp. “With the addition of Territorial Savings, Bank of Hope has become the largest regional bank catering to multi-cultural customers across the continental United States and Hawaii.”

Pursuant to the merger agreement, Territorial shareholders have the right to receive 0.8048 shares of Hope Bancorp common stock in exchange for each share of Territorial common stock they own.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. (NASDAQ: HOPE) is the holding company of Bank of Hope, the only regional Korean American bank in the United States with $17.05 billion in total assets as of December 31, 2024. With the addition of Territorial Savings, a division of Bank of Hope, effective April 2, 2025, the Company became the largest regional bank catering to multi-cultural customers across the continental United States and Hawaii. Headquartered in Los Angeles, the Bank provides a full suite of commercial, corporate and consumer loans, deposit and fee-based products and services, including commercial and commercial real estate lending, SBA lending, residential mortgage and other consumer lending; treasury management services, foreign currency exchange solutions, interest rate derivative products, and international trade financing, among others. The Bank operates 46 full-service branches in California, New York, New Jersey, Washington, Texas, Illinois, New York, New Jersey, Alabama, and Georgia under the Bank of Hope banner, and 29 branches in Hawaii under the Territorial Savings banner. The Bank also operates SBA loan production offices, commercial loan production offices, and residential mortgage loan production offices throughout the United States, and a representative office in Seoul, South Korea. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to www.bankofhope.com for Bank of Hope and www.tsbhawaii.bank for Territorial Savings, a division of Bank of Hope. By including the foregoing website address link, Hope Bancorp does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

Forward-Looking Statements

Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, Hope Bancorp claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. Factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; and deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected. Other risks and uncertainties include, but are not limited to: possible renewed deterioration in economic conditions in Hope Bancorp’s areas of operation or elsewhere; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying Hope Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp; and risks from natural disasters. For additional information concerning these and other risk factors, see Hope Bancorp’s most recent Annual Report on Form 10-K. Hope Bancorp does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250402477441/en/

For Hope Bancorp, Inc.

Julianna Balicka

EVP & Chief Financial Officer

213-235-3235

[email protected]

 

Angie Yang

SVP, Director of Investor Relations & Corporate Communications

213-251-2219

[email protected]

KEYWORDS: South Korea United States North America Asia Pacific California Hawaii

INDUSTRY KEYWORDS: Banking Professional Services Finance

MEDIA:

Posted on April 2, 2025 6:29 am

Edgewise Therapeutics Announces Pricing of $200 Million Underwritten Offering of Common Stock

PR Newswire

BOULDER, Colo.
, April 2, 2025 /PRNewswire/ — Edgewise Therapeutics, Inc. (NASDAQ: EWTX), a leading muscle disease biopharmaceutical company, today announced the pricing of an underwritten offering of 9,935,419 shares of its common stock at an offering price of $20.13 per share. Edgewise anticipates gross proceeds from the offering to be approximately $200 million, before deducting underwriting discounts and commissions and offering expenses. The closing of the offering is expected to occur on April 3, 2025, subject to the satisfaction of customary closing conditions.

The deal included participation from Braidwell LP, Cormorant Asset Management, Driehaus Capital Management, Invus, Janus Henderson Investors, MPM BioImpact, OrbiMed, Paradigm BioCapital Advisors, Perceptive Advisors, RA Capital Management and Sofinnova Investments, Inc., among other funds. Leerink Partners, Piper Sandler, Guggenheim Securities and Truist Securities acted as joint book-running managers for the offering.

Edgewise intends to use the net proceeds from the offering to support the potential U.S. commercial launch of sevasemten in patients with Becker muscular dystrophy, if approved, and advancement of a Phase 3 trial with sevasemten in Duchenne muscular dystrophy, Phase 3 trials of EDG-7500 in patients with obstructive and non-obstructive hypertrophic cardiomyopathy and Edgewise’s other ongoing research and development programs, and for working capital and general corporate purposes. The shares are being offered by Edgewise pursuant to a Registration Statement on Form S-3ASR previously filed with the U.S. Securities and Exchange Commission (the SEC) and which automatically became effective upon filing. A prospectus supplement and accompanying prospectus relating to the offering will also be filed with the SEC. These documents can be accessed for free through the SEC’s website at www.sec.gov.

When available, a copy of the prospectus supplement and the accompanying prospectus relating to the offering may also be obtained from: Leerink Partners LLC, Attention: Syndicate Department, 53 State Street, 40th Floor, Boston, MA 02109, or by telephone at (800) 808-7525, ext. 6105, or by email at [email protected]; Piper Sandler & Co., Attention: Prospectus Department, 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, or by telephone at (800) 747-3924, or by email at [email protected]; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at (212) 518-9544, or by email at [email protected]; or Truist Securities, Inc., Attention: Prospectus Department, 3333 Peachtree Road NE, 9^th Floor, Atlanta, GA 30326, or by telephone at (800) 685-4786, or by email at [email protected].

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

About Edgewise Therapeutics

Edgewise Therapeutics is a leading muscle disease biopharmaceutical company developing novel therapeutics for muscular dystrophies and serious cardiac conditions. The Company’s deep expertise in muscle physiology is driving a new generation of novel therapeutics. Sevasemten is an orally administered skeletal myosin inhibitor in late-stage clinical trials in Becker and Duchenne muscular dystrophies. EDG-7500 is a novel cardiac sarcomere modulator for the treatment of hypertrophic cardiomyopathy and other diseases of diastolic dysfunction, currently in Phase 2 clinical development. The entire team at Edgewise is dedicated to our mission: changing the lives of patients and families affected by serious muscle diseases.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release that are not purely historical are forward-looking statements. Words such as “believes,” “anticipates,” “plans,” “expects,” “intends,” “will,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from current expectations and beliefs, including but not limited to: general economic and market conditions; satisfaction of customary closing conditions related to the offering; the timing, progress and results of clinical trials for sevasemten and EDG-7500; the timing, scope and likelihood of regulatory filings and approvals; and other risks. Information regarding the foregoing and additional risks may be found in the section entitled “Risk Factors” in documents that Edgewise files from time to time with the SEC. These forward-looking statements are made as of the date of this press release, and Edgewise assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.

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SOURCE Edgewise Therapeutics

Posted on April 2, 2025 6:27 am

NETSCOUT Reports DDoS Attacks Targeting Critical Infrastructure Play a Dominant Role in Geopolitical Conflicts

NETSCOUT Reports DDoS Attacks Targeting Critical Infrastructure Play a Dominant Role in Geopolitical Conflicts

DDoS attacks are precision-guided digital weapons as DDoS-for-hire services, AI and powerful botnets drive onslaught of attacks

WESTFORD, Mass.–(BUSINESS WIRE)–
NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) today released its 2H2024 DDoS Threat Intelligence Report, revealing how Distributed Denial of Service (DDoS) attacks have become a dominant means of waging cyberwarfare linked to sociopolitical events such as elections, civil protests, and policy disputes. The findings show how attackers exploit moments of national vulnerability to amplify chaos and erode trust in institutions, as they target the critical infrastructure of governments, commercial entities and service providers.

Throughout the year, DDoS attacks were intricately tied to social/political events, including Israel experiencing a 2,844% surge tied to hostage rescues and political conflicts, Georgia enduring a 1,489% increase during the lead-up to the passage of the “Russia Bill,” Mexico having a 218% increase during national elections, and the United Kingdom experiencing a 152% increase on the day the Labour Party resumed session in Parliament.

“DDoS has emerged as the go-to tool for cyberwarfare,” stated Richard Hummel, director, threat intelligence, NETSCOUT. “NoName057(16) continues to be the leading actor for politically motivated DDoS campaigns targeting governments, infrastructure, and organizations. In 2024, they repeatedly targeted government services in the United Kingdom, Belgium, and Spain.”

AI and Automation Drive Scale and Impact

DDoS-for-hire services have become more powerful using AI for CAPTCHA bypassing, with about nine in ten platforms now offering this capability. Additionally, many employ automation to enable dynamic, multi-target campaigns and offer infrastructure exploitation techniques such as carpet bombing, geo-spoofing, and IPv6 to expand attack surfaces. Even the most novice operators can launch significant DDoS attack campaigns causing substantial harm.

Botnets Playing a Bigger Role

Enterprise servers and routers have been exploited to intensify attacks and make remediation more challenging. Overall botnet populations declined by 5% but demonstrated strong resiliency despite concerted takedown efforts. Law enforcement takedown efforts, like Operation PowerOFF, continue to target DDoS-for-hire services but only momentarily disrupt attack platforms as new platforms take their place. The long-term impact is uncertain as attackers adapt and reconstitute their networks, with no significant decline in global attack volume.

DDoS Attacks are Adaptive and Persistent

DDoS attacks are evolving and adapting faster than ever, creating a challenge for defenders and those entrusted with protecting critical infrastructure networks and service availability. Enterprises, government organizations, and service providers are all targets for DDoS attacks. Successful strategies must deploy proactive intelligence-driven methodologies and automation to mitigate modern-day DDoS attacks effectively. Staying ahead of new threats demands that organizations outmaneuver an adversary that can force multiply its strength, speed, intelligence, and persistence like nothing the world has ever seen.

Unparalleled Attack Visibility

NETSCOUT maps the DDoS landscape through passive, active, and reactive vantage points, providing unparalleled visibility into global attack trends. NETSCOUT protects two-thirds of the routed IPv4 space, securing network edges that carried global peak traffic of over 700 Tbps in 2H2024. It monitors tens of thousands of daily DDoS attacks by tracking multiple botnets and DDoS-for-hire services that leverage millions of abused or compromised devices.

Visit our website to learn more about NETSCOUT’s DDoS Threat Intelligence Report. For real-time DDoS attack stats and insights, visit NETSCOUT Cyber Threat Horizon.

About NETSCOUT

NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) protects the connected world from cyberattacks and performance and availability disruptions through its unique visibility platform and solutions powered by its pioneering deep packet inspection at scale technology. NETSCOUT serves the world’s largest enterprises, service providers, and public sector organizations. Learn more at www.netscout.com or follow @NETSCOUT on LinkedIn, X, or Facebook.

©2025 NETSCOUT SYSTEMS, INC. All rights reserved. Third-party trademarks mentioned are the property of their respective owners.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250402344938/en/

Chris Lucas

NETSCOUT Systems, Inc.

+1 978 614 4124

[email protected]

Chris Shattuck

Finn Partners for NETSCOUT

+1 404 502 6755

[email protected]

KEYWORDS: United States North America Massachusetts

INDUSTRY KEYWORDS: Software Mobile/Wireless Networks Data Management White House/Federal Government Technology State/Local Artificial Intelligence Security Elections/Campaigns Telecommunications Public Policy/Government

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