Organon To Report Second Quarter 2024 Results and Host Conference Call on August 6, 2024

Rhea-AI Summary

Organon (NYSE: OGN) will announce its Q2 2024 financial results on August 6, 2024. The company's webcast and conference call are scheduled for 8:30 a.m. EDT. Organon estimates a $15 million milestone expense in the second quarter, impacting both GAAP and non-GAAP EPS by approximately $0.05. These expenses stem from collaborations with Cirqle Biomedical and Shanghai Henlius Biotech. The company notes that these milestones are not included in their May 2, 2024, financial guidance due to forecasting uncertainties. Final results are pending and may differ from estimates.

Interested parties can access the live webcast on Organon's website, with a replay available two hours post-event. Institutional investors and analysts need to pre-register to participate in the call.

Positive

• None.

Negative

• Estimated $15 million milestone expense in Q2 2024.
• Expected impact of approximately $0.05 on both GAAP and non-GAAP EPS.
• Milestone expenses not included in previous financial guidance.

Company estimates $15 million of milestone expense in the second quarter

JERSEY CITY, N.J.--(BUSINESS WIRE)-- Organon (NYSE: OGN), a global healthcare company with a focus on women’s health, will release its second quarter 2024 financial results on August 6, 2024, prior to the company’s webcast and conference call scheduled for 8:30 a.m. EDT.

IPR&D and Milestones

Organon currently expects that it will record approximately $15 million of milestone expense in the second quarter of 2024, representing an impact of approximately $0.05 to both GAAP and non-GAAP earnings per share. These development milestones relate to progress associated with Organon’s research collaboration and license agreement with Cirqle Biomedical and its agreement with Shanghai Henlius Biotech, Inc. for the license of certain biosimilar candidates.

As previously disclosed, Organon does not forecast IPR&D (in process research and development) or milestones due to the level of uncertainty and ability to forecast the timing of such achievements. As such, these milestones, as well as any future IPR&D and milestones are not contemplated in the company’s financial guidance provided on May 2, 2024. Organon’s second quarter 2024 results have not been finalized and are subject to the company’s quarterly financial statement closing procedures. There can be no assurance that actual results will not differ from the preliminary estimates described herein.

Accessing Second Quarter 2024 Financial Results Webcast

Interested parties may access the live call via webcast on the Organon website at https://www.organon.com/investor-relations/events-and-presentations/. A replay of the webcast will be available approximately two hours after the conclusion of the live event on the company’s website.

Institutional investors and analysts interested in participating in the call must register in advance by clicking on this link: https://registrations.events/direct/Q4I585119

Following registration, participants will receive a confirmation email containing details on how to join the conference call, including dial-in information and a unique passcode and registrant ID. Pre-registration will allow participants to bypass an operator and be placed directly into the call.

About Organon

Organon is a global healthcare company created to help improve the health of women throughout their lives. Organon’s diverse portfolio offers more than 60 medicines and products in women’s health, biosimilars, and a large franchise of established medicines across a range of therapeutic areas. In addition to Organon’s current products, the company invests in innovative solutions and research to drive future growth opportunities in women’s health and biosimilars. In addition, Organon is pursuing opportunities to collaborate with biopharmaceutical partners and innovators looking to commercialize their products by leveraging its scale and agile presence in fast growing international markets.

Organon has a global footprint with significant scale and geographic reach, world-class commercial capabilities, and approximately 10,500 employees with headquarters located in Jersey City, New Jersey.

For more information, visit http://www.organon.com and connect with us on LinkedIn, Instagram, X (formerly known as Twitter) and Facebook.

Cautionary Note Regarding Forward-Looking Statements

The information above reflects management’s current intentions and expectations for the future with respect to Organon’s anticipated charges for milestone payments and the related impact to Organon’s GAAP and non-GAAP earnings per share, which constitute “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are subject to a number of risks, assumptions, uncertainties and other factors, such as the completion of Organon’s quarter-end closing process, including review by management and the audit committee of the Organon’s board of directors, which could result in material changes to the preliminary estimates described herein. Organon undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events or otherwise. Factors that could cause results to differ materially from those described in the forward-looking statements can be found in Organon’s filings with the Securities and Exchange Commission ("SEC"), including Organon’s most recent Annual Report on Form 10-K and subsequent SEC filings, available at the SEC’s Internet site (www.sec.gov).

View source version on businesswire.com: https://www.businesswire.com/news/home/20240709233122/en/

Organon Media Contacts:

Karissa Peer

(614) 314-8094



Kate Vossen

(732) 675-8448

Organon Investor Contacts:

Jennifer Halchak

(201) 275-2711



Renee McKnight

(551) 204-6129

Source: Organon & Co.

FAQ

When will Organon report its Q2 2024 financial results?

Organon will report its Q2 2024 financial results on August 6, 2024.

How will Organon's milestone expenses impact their Q2 2024 earnings?

Organon expects a $15 million milestone expense in Q2 2024, impacting both GAAP and non-GAAP EPS by approximately $0.05.

What collaborations are contributing to Organon's Q2 2024 milestone expenses?

The milestone expenses are related to Organon's collaborations with Cirqle Biomedical and Shanghai Henlius Biotech.

How can I access Organon's Q2 2024 financial results webcast?

The live webcast can be accessed on Organon's website, with a replay available approximately two hours after the event.

Do Organon's Q2 2024 milestone expenses affect their previous financial guidance?

No, the milestone expenses are not included in the previous financial guidance provided on May 2, 2024, due to forecasting uncertainties.