Item 8.01 |
Other Events.
|
A. |
The third full paragraph on page 34 (such paragraph beginning with "On October 20, 2023, Party A …") of the Proxy Statement is hereby amended and restated to read as follows:
|
B. |
The third full paragraph on page 36 (such paragraph beginning with "On December 12, 2023, Mr. Meury …") of the Proxy Statement is hereby amended and restated to read as follows:
|
C. |
The sixth full paragraph on page 38 (such paragraph beginning with "Also on December 19, 2023, Dr. Boerner …") of the Proxy Statement is hereby amended and restated to read as follows:
|
A. |
The last paragraph on page 49 under the heading "Illustrative Discounted Cash Flow Analysis" (such paragraph beginning with "Goldman Sachs derived ranges …") of the Proxy Statement is hereby amended and restated to read as follows:
|
B. |
The first full paragraph on page 49 under the heading "Premia Paid Analysis" (such paragraph beginning with "Goldman Sachs reviewed and analyzed …") of the Proxy Statement is hereby amended and restated to read as follows:
|
Announcement Date |
Selected Acquisition Transactions |
Premium to Undisturbed
StockPrice | |
Acquiror |
Target | ||
December 6, 2023 |
AbbVie Inc. |
Cerevel Therapeutics
Holdings, Inc. |
73% |
November 30, 2023 |
AbbVie Inc. |
ImmunoGen, Inc. |
95% |
April 16, 2023 |
Merck & Co., Inc. |
Prometheus Biosciences, Inc. |
75% |
May 10, 2022 |
Pfizer Inc. |
Biohaven Pharmaceutical
Holding Company Ltd. |
79% |
September 30, 2021 |
Merck & Co., Inc. |
Acceleron Pharma Inc. |
36% |
October 5, 2020 |
Bristol-Myers Squibb Company |
MyoKardia, Inc. |
61% |
November 24, 2019 |
Novartis AG |
The Medicines Company |
45% |
June 17, 2019 |
Pfizer Inc. |
Array BioPharma Inc. |
63% |
April 9, 2018 |
Novartis AG |
AveXis, Inc. |
88% |
January 22, 2018 |
Sanofi SA |
Bioverativ Inc. |
64% |
January 22, 2018 |
Celgene Corporation |
Juno Therapeutics, Inc. |
91% |
A. |
The table on page 51 under the heading "Financial Projections (Risk-Adjusted) ($ in millions)" of the Proxy Statement is hereby amended and restated as follows:
|
Fiscal Year Ending December 31,
| ||||||||||||||||||||||||||||||||||||
2023
|
2024
|
2025
|
2026
|
2027
|
2028
|
2029
|
2030
|
2031
| ||||||||||||||||||||||||||||
Revenue
|
$
|
0
|
$
|
22
|
$
|
152
|
$
|
517
|
$
|
1,001
|
$
|
1,607
|
$
|
2,432
|
$
|
2,996
|
$
|
3,689
| ||||||||||||||||||
Gross Profit(1) |
$
|
0
|
$
|
22
|
$
|
141
|
$
|
474
|
$
|
860
|
$
|
1,438
|
$
|
2,166
|
$
|
2,668
|
$
|
3,452
| ||||||||||||||||||
Net Operating Profit After Tax(2) |
$
|
(294
|
)
|
$
|
(424
|
)
|
$
|
(300
|
)
|
$
|
21
|
$
|
299
|
$
|
669
|
$
|
1,042
|
$
|
1,334
|
$
|
1,804
| |||||||||||||||
Unlevered Free Cash Flow(3) |
$
|
(299
|
)
|
$
|
(414
|
)
|
$
|
(306
|
)
|
$
|
(12
|
)
|
$
|
277
|
$
|
616
|
$
|
994
|
$
|
1,286
|
$
|
1,742
|
Fiscal Year Ending December 31,
| ||||||||||||||||||||||||||||||||||||
2032
|
2033
|
2034
|
2035
|
2036
|
2037
|
2038
|
2039
|
2040
| ||||||||||||||||||||||||||||
Revenue
|
$
|
4,419
|
$
|
5,086
|
$
|
5,725
|
$
|
6,329
|
$
|
6,950
|
$
|
7,520
|
$
|
8,070
|
$
|
6,865
|
$
|
2,794
| ||||||||||||||||||
Gross Profit
|
$
|
4,128
|
$
|
4,735
|
$
|
5,311
|
$
|
5,872
|
$
|
6,471
|
$
|
7,028
|
$
|
7,543
|
$
|
6,420
|
$
|
2,623
| ||||||||||||||||||
Net Operating Profit After Tax
|
$
|
2,212
|
$
|
2,577
|
$
|
2,919
|
$
|
3,250
|
$
|
3,593
|
$
|
3,927
|
$
|
4,227
|
$
|
3,549
|
$
|
1,298
| ||||||||||||||||||
Unlevered Free Cash Flow
|
$
|
2,150
|
$
|
2,509
|
$
|
2,849
|
$
|
3,182
|
$
|
3,525
|
$
|
3,877
|
$
|
4,172
|
$
|
3,554
|
$
|
1,274
|
Fiscal Year Ending December 31,
| ||||||||||||||||||||||||||||||||
2041
|
2042
|
2043
|
2044
|
2045
|
2046
|
2047
|
2048
| |||||||||||||||||||||||||
Revenue
|
$
|
2,532
|
$
|
2,501
|
$
|
2,547
|
$
|
2,552
|
$
|
2,567
|
$
|
2,050
|
$
|
1,506
|
$
|
1,315
| ||||||||||||||||
Gross Profit
|
$
|
2,381
|
$
|
2,354
|
$
|
2,399
|
$
|
2,405
|
$
|
2,418
|
$
|
1,947
|
$
|
1,430
|
$
|
1,250
| ||||||||||||||||
Net Operating Profit After Tax
|
$
|
1,155
|
$
|
1,137
|
$
|
1,160
|
$
|
1,160
|
$
|
1,165
|
$
|
923
|
$
|
655
|
$
|
561
| ||||||||||||||||
Unlevered Free Cash Flow
|
$
|
1,128
|
$
|
1,109
|
$
|
1,137
|
$
|
1,151
|
$
|
1,159
|
$
|
920
|
$
|
654
|
$
|
560
|
(1) | "Gross Profit" is a non-GAAP measure and refers to Karuna's non-GAAP Risk-Adjusted Revenue lesscost of goods sold. |
(2) | "Net Operating Profit After Tax" is a non-GAAP measure and refers to Karuna's non-GAAP gross profit, lessresearch and development expenses, lesssales, general and administrative expenses, lesstax. |
(3) |
"Unlevered Free Cash Flow"is a non-GAAP measure and refers to non-GAAP Net Operating Profit After Tax, lesscapital expenditures and changes in net working capital, plus depreciation and amortization. Unlevered Free Cash Flow excludes free cash flow benefits from net operating losses.
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B. |
The following paragraph is added on page 51 immediately following the table under the heading "Financial Projections (Risk-Adjusted)" of the Proxy Statement:
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Karuna Therapeutics Inc. published this content on 01 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2024 11:59:30 UTC.