Barnes Group Inc. - B STOCK NEWS

BioArctic's partner, Eisai, has published new research on the societal value of the anti-amyloid-beta antibody, lecanemab (LEQEMBI™), in Alzheimer's disease. This study utilized data from the Phase 3 Clarity AD trial, revealing a gain of 0.61 quality-adjusted life-years (QALYs) from a healthcare payer perspective and a reduction in costs by $6,263 per person. For the societal perspective, the QALY gain is 0.64 and costs decrease by $7,451. Lecanemab, which received accelerated FDA approval on January 18, 2023, could significantly improve quality of life and lessen the economic burden of Alzheimer's disease.

Barnes Group Inc. (NYSE: B) will release its first quarter 2023 financial results on April 27, 2023, before market opens. The company will host a conference call at 8:30 a.m. (ET) to discuss results and future outlook, accessible via a live audio webcast on their website. A recorded playback will be available from 12:00 p.m. (ET) on April 27 until 11:59 p.m. (ET) on May 4, 2023. Barnes specializes in advanced technology solutions across various industries, including medical and aerospace, enhancing production and sustainability through integrated hardware and software.

BioArctic AB (NASDAQ Stockholm: BIOA B) announced that the U.S. Veterans Health Administration (VHA) will cover LEQEMBI™ (lecanemab-irmb) for veterans with early-stage Alzheimer's disease. This decision comes two months post-FDA approval under the accelerated pathway. Healthcare professionals can prescribe LEQEMBI following VHA and FDA guidelines. The ongoing clinical trials aim to verify LEQEMBI's benefits, and further data is anticipated as Eisai prepares for traditional FDA approval. BioArctic has no development costs for lecanemab and is entitled to royalties and milestone payments from its commercialization.

BioArctic's partner, Eisai, announced that the FDA has accepted its supplemental Biologics License Application (sBLA) for LEQEMBI (lecanemab-irmb) for traditional approval, prioritizing the review. This follows its accelerated approval on January 6, 2023. The sBLA is based on the Phase 3 Clarity AD trial, which met its primary endpoint and key secondary endpoints. Eisai has a Prescription Drug User Fee Act (PDUFA) action date set for July 6, 2023. BioArctic is preparing for commercialization of LEQEMBI in the Nordics, having no development costs and receiving milestone payments and royalties on global sales.

BioArctic AB announced the recruitment of Anders Martin-Löf as the new CFO, effective June 1, 2023. Martin-Löf, who has over 20 years of experience in the Life Science sector, previously held roles at companies like Oncopeptides and A3P Biomedical. The current CFO, Jan Mattsson, will transition to a new role as VP Finance after Martin-Löf's arrival. Gunilla Osswald, the CEO, expressed confidence in Martin-Löf's capabilities to aid in the company's development during this exciting phase, particularly in treatments for neurodegenerative diseases. This change comes as BioArctic continues its partnership with Eisai on Alzheimer's therapies.

BioArctic AB announced that its partner Eisai's Biologics License Application (BLA) for lecanemab (LEQEMBI™) has been granted Priority Review by the National Medical Products Administration (NMPA) in China. This designation, aimed at expediting the approval process for clinically significant drugs, follows Eisai's submission of data, including results from the Phase 2b trial and the Phase III Clarity AD study on Alzheimer's disease. Lecanemab targets amyloid beta aggregates to potentially slow disease progression. BioArctic has no development costs for lecanemab and is entitled to milestone payments and royalties on global sales.

Barnes Group (NYSE: B) reported Q4 2022 sales of $313 million, a 1% increase year-over-year, with organic sales up 5%. Operating margin was 7.7%, and GAAP EPS was $0.30, down from $0.55 a year ago. For the full year 2022, sales reached $1,262 million, slightly up from 2021, with adjusted EPS of $1.98, a 2% increase. The 2023 outlook suggests organic sales growth of 6% to 8% and adjusted EPS between $2.10 and $2.30. The effective tax rate rose to 64.7%, largely due to non-tax-deductible charges. Management emphasizes core business execution to unlock enterprise value.

The Board of Directors of Barnes Group Inc. (NYSE: B) has declared a quarterly cash dividend of $0.16 per share, payable on March 10, 2023, to shareholders of record as of February 23, 2023.

Barnes has consistently paid dividends since 1934, underscoring its commitment to returning value to shareholders. The company specializes in advanced manufacturing and engineering solutions across various industries, enhancing sustainability and automation.