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NKGen Biotech, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NKGN#NASDAQ">NKGN</a>) ("NKGen" or the "Company"), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK natural killer ("NK") cell therapeutics, today announced that Paul Y. Song, MD, Chairman and Chief Executive Officer of NKGen Biotech, will present details around its NK cell therapy in neurodegenerative disease, review its preclinical data in Parkinson's disease, and highlight clinical safety and efficacy data from the Company's recently completed Phase 1 clinical trial of SNK01, autologous natural killer cell therapy, in Alzheimer's disease at the 12th Annual Alzheimer's &amp; Parkinson's Drug Development Summit to be held in Boston, MA, from April 23–25, 2024. &nbsp;
<figure class="table"> 
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<td>Presentation Details:</td>
<td>&nbsp;</td>
</tr>
<tr>
<td>Title:</td>
<td>Evaluating Adoptive Cellular Immunotherapy for Neurodegeneration with Autologous SNK01</td>
</tr>
<tr>
<td>Conference Track:&nbsp;</td>
<td>Translational -- Harnessing Cell Therapy &amp; Senescence to Reduce Alzheimer's Pathology in Preclinical Research</td>
</tr>
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<td>Date and Time:</td>
<td>Thursday, April 25, 2024, 2:00 pm ET</td>
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Dr. Song's presentation will detail how enhanced natural killer cells can maximize the body's ability to destroy diseased and abnormal cells and provide a review of NK cell therapy as an alternative treatment modality to resolve neurodegeneration by harnessing the body's natural immune system, including a discussion on the scientific rationale behind the use of NK cell therapy for the treatment of Parkinson's disease. Dr. Song will also present clinical safety and efficacy data from the Company's recently completed Phase 1 clinical trial evaluating autologous SNK01 NK cell therapy in patients with Alzheimer's disease (NCT04678453).
A copy of the presentation will be available on the Scientific Publications page of the Company's website at <a href="https://www.globenewswire.com/Tracker?data=yuwgEo20bodatxmRsdzZdGVODmnZAe7iMZM3ADVz4axOGZ3z0wCfJcJ1Ixqj953gDva_tx2CkABvWUDPnwimtNYMWamT7TmglbrdUMXjKAg=">https://nkgenbiotech.com/</a> once the presentation has concluded. Previously disclosed Phase 1 data on the positive effects of SNK01 on amyloid, tau and neuroinflammation biomarkers, which may not be included in this conference presentation, can also be found on the Scientific Publications page.

Biotech

News

General

NKGN

NKGen Biotech Announces Upcoming Presentation On SNK01 NK Cell Therapy In Neurodegenerative Disease At The 12th Annual Alzheimer's & Parkinson's Drug Development Summit

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.15 by 2.61 percent. The company reported quarterly sales of $167.382 million which missed the analyst consensus estimate of $170.118 million by 1.61 percent. This is a 10.61 percent decrease over sales of $187.240 million the same period last year.

Earnings

Earnings Misses

INDB

Independent Bank Q1 2024 Adj EPS $1.12 Misses $1.15 Estimate, Sales $167.382M Miss $170.118M Estimate

Streaming giant Netflix Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) reported first-quarter financial results after <a href="https://www.benzinga.com/calendars/earnings">market close Thursday.</a>
Here are the key highlights.
What Happened: Netflix reported first quarter revenue of $9.37 billion, which was up 14.8% year-over-year. The revenue beat a Street consensus estimate of $9.275 billion, according to<a href="https://www.benzinga.com/pro/feature/newsfeed?gspk=bHVrZWphY29iaTUzNDg&amp;gsxid=tdEE0VrK8Jeg&amp;ref=lukejacobi5348"> data from Benzinga Pro.</a>
The company reported earnings per share of $5.28 for the quarter, which beat a Street consensus estimate of $4.51.
Netflix added 9.33 million paid net new subscribers in the first quarter to bring the company to a total of 269.60 million. The subscriber growth was up 16.0% year-over-year.
Revenue, earnings per share and net additions all came in ahead of company guidance as well.
Average revenue per member was up 1% year-over-year in the first quarter.
Operating income for the company was $2.6 billion, up 54% year-over-year.
The company said it made progress on its ad-supported plan in the first quarter, saying its ads membership was up 65% quarter-over-quarter. Netflix reported that 40% of all signups for the ad-supported plan came from ads plans.
Highlighted content for the first quarter included "Griselda," "3 Body Problem," "Avatar: the Last Airbender," "Love is Blind Season 6," "American Nightmare" and "Dave Chappelle: The Dreamer."
Netflix said with an average of more than two people per household subscribed on each Netflix plan, the company has an audience of over half a billion people.
"No entertainment company has ever programmed at this scale and with this ambition before," the company said.
Related Link: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38278466/netflix-q1-earnings-preview-subscriber-growth-potential-price-increase-ad-tier-plan">Netflix Q1 Earnings Preview: Subscriber Growth, Potential Price Increase, Ad-Tier Plan And More On What Wall Street Expects</a>
What's Next: Netflix said it has room to grow and add value with members, which includes growth through live events in comedy, sports, competition shows and music. The company highlighted an upcoming boxing match between Mike Tyson and Jake Paul and its upcoming partnership with WWE.
The company is guiding for second quarter revenue of $9.49 billion and earnings per share of $4.68.
Netflix no longer provides guidance for net paid subscriber additions and said starting with the first quarter of fiscal 2025 it will stop reporting quarterly membership figures and average revenue per member.
"We have built a hard to replicate combination of a strong slate, superior recommendations, broad reach and intense fandom, which drives healthy engagement on Netflix," the company said.
The company said it will look to improve the variety and quality of entertainment going forward.
NFLX Price Action: Netflix shares are down 2% to $599.33 in after-hours trading Thursday, versus a 52-week trading range of $315.62 to $639.00.
Read Next: <a href="https://www.benzinga.com/general/entertainment/24/04/38237862/meghan-markle-prince-harry-line-up-new-projects-with-netflix-heres-what-the-shows-are-about">Meghan Markle, Prince Harry Line Up New Projects With Netflix: Here&#8217;s What The Shows Are About</a>
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="&#x1f534;WATCH LIVE: Netflix Q1 2024 Earnings Call &#x7C; NFLX" width="500" height="281" src="https://www.youtube.com/embed/PQ5PIr6z4U0?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
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Photo courtesy of Netflix.

Entertainment

Movers

NFLX

Netflix Q1 Earnings Highlights: Revenue Beat, EPS Beat, 9.33 Million Paid Subs Added, Ad-Tier Plan Update And More

Civista Bancshares, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CIVB#NASDAQ">CIVB</a>) ("Civista") today announced that the Board of Directors has approved a stock repurchase program authorizing Civista to purchase, from time to time, up to an aggregate $13.5 million of its outstanding common shares. This new program replaces the prior share repurchase program approved by the Board of Directors which had authorized Civista to purchase up to an aggregate of $13.5 million common shares and would have expired on April 18, 2024, with an aggregate of $1.5 million purchased through the replacement date.
Dennis G. Shaffer, Civista's President and CEO commented, "We remain committed to our strategy of growing our franchise. Provided we have a level of comfort, the repurchase program will allow us to be opportunistic and further deliver value to our shareholders."
Under the share repurchase program, shares may be repurchased from time to time in the open market or through negotiated transactions at prevailing market rates, or by other means in accordance with federal securities laws.&nbsp;
There is no guarantee as to the exact number or value of shares that will be repurchased by Civista, and Civista may discontinue repurchases at any time that management determines additional repurchases are not warranted. The timing and amount of share repurchases under the stock repurchase program will depend on several factors, including Civista's stock price performance, ongoing capital planning considerations, general market conditions, and applicable legal requirements. The repurchase program will continue until April 15, 2025.

Buybacks

CIVB

Civista Bancshares, Inc. Announces Share Repurchase Program, From Time To Time, Up To An Aggregate $13.5M Of Its Outstanding Common Shares

Stock Split

SPCE

Virgin Galactic Annual Meeting Includes Proposal For Potential Reverse Split Between 1-for-2 And 1-for-20

Revenue
Our sales were $5.39 million for the second half of the fiscal year 2023, which increased by $3.95 million, or 275.1% from $1.44 million for the first half of the fiscal year 2023.
Our sales were $6.83 million for the fiscal year 2023 ended December 31, 2023, which increased by $2.66 million, or 63.7% from $4.17 million for the same period of 2022. During the fiscal year 2023, one of our largest construction projects was suspended since the first quarter of 2023 until July 2023 due to work delays caused by a third party to our client. Since the revenue is recognized based on the stages of site work, we posted a relatively low revenue in the first half year of the fiscal year 2023 comparing to the second half year of the fiscal year 2023. We successfully charged the client for the loss and damage caused by the suspension while resume the site work.
Cost of revenues
Our cost of revenues were $3.20 million for the second half of the fiscal year 2023, which increased by $2.02 million, or 170.3% from $1.18 million for the first half of the fiscal year 2023.
Our cost of revenues were $4.39 million for the fiscal year 2023 ended December 31, 2023, which increased by $1.01 million, or 29.6% from $3.38 million for the same period of 2022. The increase of the cost of revenues is due to the growth of revenues in the second half year of the fiscal year 2023 and a termination of a sub-contractor due to delayed progress which created higher cost of new engagements for the replacement and caught up the delays in the first half year of the fiscal year 2023.
Gross profit
Our gross profit was $2.19 million for the second half of the fiscal year 2023, which increased by $1.94 million, or 766.6% from $0.25 million for the first half of the fiscal year 2023.
Our gross profit was $2.44 million for the fiscal year 2023 ended December 31, 2023, which increased by $1.65 million, or 210.6% from $0.79 million for the same period of 2022. The significant increase of gross profit margin was caused by the demand of charge to client for the unilaterally suspension.
General and administrative expenses
General and administrative expenses amounted to approximately $1.00 million for the second half of the fiscal year 2023, which decreased by $0.89 million, or 47.4% from $1.89 million for the first half of the fiscal year 2023.
General and administrative expenses amounted to approximately $2.89 million for the fiscal year 2023 ended December 31, 2023, which increased by $1.46 million or 102.6% from $1.43 million for the same period of 2022. This increase was mainly due to the increase of cost after listing, the related cost such as listing fee, legal and professional fees, and salary payment.
General and administrative expenses include rental expenses, staff salary and benefits, legal and professional fees, office expenses, travel expenses, entertainment, depreciation and listing fees.
Interest Expenses
Interest expenses amounted to $36,967 for the second half of the fiscal year 2023, which increased by $12,370, or 50.3% from $24,597 for the first half of the fiscal year 2023.
Interest expenses amounted to $61,564 for the fiscal year 2023 ended December 31, 2023, which increased by $26,187, or 74.0% from $35,377 for the same period of 2022. During the fiscal year of 2023, we engaged into an additional bank facility to allow the group to increase the utilization of debt equity ratio, while also allowed us to offset the interest rate risk by in-house interest rate hedged.
Other Income
Other income amounted to $141,923 for the second half of the fiscal year 2023, which increased by $100,046, or 238.9% from $41,877 for the first half of the fiscal year 2023.
Other income amounted to $183,800 for the fiscal year 2023 ended December 31, 2023, which increased by $103,852, or 129.9% from $79,948 for the same period of 2022.
Net loss
Net profit was $1.30 million for the second half of the fiscal year 2023, which increased by $2.92 million, or 179.8% from net loss of $1.62 million for the first half of the fiscal year 2023.
Net loss was $0.33 million for the fiscal year 2023 ended December 31, 2023, which increased by $0.27 million, or 45.0% as compared to $0.60 million for the same period of 2022.
Equity
Our Shareholders' Equity increased by 28.4% and 449.0% to $5.98 million for the fiscal year 2023 ended December 31, 2023, from $4.66 million for six months ended June 30, 2023 and deficit of $1.71 million for the year ended December 31, 2022 respectively.

WLGS

Wang & Lee Group H2 EPS $(0.11); FY23 EPS $(0.02) Vs $(0.05) YoY; Revenue $6.83M Vs $4.17M YoY

The Company anticipates incurring a one-time restructuring charge of approximately&nbsp;$1.6 million&nbsp;in the&nbsp;second quarter&nbsp;of 2024 in connection with these restructuring actions. The company believes it has sufficient capacity to process orders for the DermTech Melanoma Test (DMT).

DMTK

DermTech Intends To Continue Laboratory Operations During Strategic Review

Potential strategic alternatives that may be explored or evaluated include an acquisition, merger, reverse merger, business combination, sale of assets, licensing or other transaction involving the Company.&nbsp;The Company will not be hosting a&nbsp;first-quarter&nbsp;2024 earnings conference call as a result of today&#39;s announcement.

DermTech To Seek Strategic Alternatives; Plans Restructuring Actions That Will Result In Workforce Reduction Of ~100 Employees, Or 56% Of Workforce

WIIM

ISRG

Intuitive Surgical shares are trading higher after the company reported better-than-expected Q1 financial results.

Asset Sales

Community Health Systems Says Transaction Expected To Close In Q3 Of This Year

The APOLLO study met its primary safety endpoint, demonstrating that VTP-200 was generally well-tolerated and was administered with no treatment-related grade 3 or higher unsolicited AEs and no treatment-related SAEs.

BRNS

Barinthus Bio Reports Topline Data From Phase 1b/2 APOLLO Trial Of VTP-200 In Persistent High-Risk HPV Infections; Primary Safety Endpoint Met;  VTP-200 Was Generally Well-Tolerated

Community Health Systems Announces Agreement To Sell Cleveland, Tennessee, Hospital To Hamilton Health Care System For $160M In Cash

Independent Bank (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INDB#NASDAQ">INDB</a>) reported quarterly earnings of $1.12 per share which missed the analyst consensus estimate of $1.15 by 2.61 percent.

Independent Bank Q1 2024 Adj EPS $1.12 Misses $1.15 Estimate

Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) reported quarterly earnings of $1.60 per share which missed the analyst consensus estimate of $1.66 by 3.61 percent. This is a 30.43 percent decrease over earnings of $2.30 per share from the same period last year. The company reported quarterly sales of $728.80 million which beat the analyst consensus estimate of $697.04 million by 4.56 percent. This is a 32.05 percent increase over sales of $551.90 million the same period last year.

Earnings Beats

Western Alliance Q1 EPS $1.60 Misses $1.66 Estimate, Sales $728.80M Beat $697.04M Estimate

Barinthus Bio Announces Topline Data From Phase 1b/2 APOLLO Trial Of VTP-200 In Persistent High-Risk HPV Infections; Says 'Pooled data from the five different active dose groups demonstrated no statistically significant improvement in either hrHPV or cervical lesion clearance in comparison to the placebo group.'

Franklin Covey Board Approves $50M Purchase Plan

FYBR

Frontier Communications Parent Experienced A Significant Operational Disruption On April 14, 2024, Due To Unauthorized Access By A Cybercrime Group To Its It Environment And Personal Data, But Has Since Contained The Incident And Is Restoring Operations; Not Expecting Material Financial Impact

&quot;In the&nbsp;second quarter, we expect low single-digit percentage aggregate sales volume growth, led by our aerospace, protective and marine, and packaging coatings businesses and by Mexico, China and India,&quot;&nbsp;Chairman and CEO comments.

Guidance

PPG Expects FY24 Organic Sales Growth To Be Up Low Single Digits; Continues To See Adjusted EPS $8.34-$8.59, Est $8.48

AMCON Distributing Q2 2024 EPS $0.89 Down From $3.49 YoY; Revenue $601.877M Up From $584.993M YoY

SPDR SSGA US Sector Rotation ETF declares quarterly distribution of $0.1222

Large Vs. Small Gap Keeps Widening

Rate Decreases: Be Careful What You Wish For?

Why U.S. Large Cap Growth's Banner Year Didn't Look The Same Across Index Providers

SPDR SSGA US Sector Rotation ETF declares quarterly distribution of $0.0859

Weekly Market Pulse: A New Paradigm?

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