AG真人官方

First Horizon Corporation (NYSE: FHN) filed an 8-K dated July 16, 2025 to disclose two key items.

• Item 2.02 鈥� The company furnished its Second-Quarter 2025 Earnings Release (Exhibit 99.1). Detailed financial data, GAAP/鈥媙on-GAAP reconciliations and capital ratios are contained in that exhibit; they are not included in the body of this filing.
• Item 7.01 鈥� An accompanying Investor Slide Presentation (Exhibit 99.2) has also been furnished.

The filing emphasizes that both exhibits are furnished, not filed, under the Exchange Act and therefore are not incorporated by reference into other SEC filings.

Capital actions: The company confirms that all shares of Series B Non-Cumulative Perpetual Preferred Stock were called for redemption on July 2, 2025, effective August 1, 2025. When the redemption settles, the related depositary shares (ticker FHN PR B) will be suspended from trading and delisted from the NYSE.

The document also reminds investors that the exhibits contain forward-looking statements and extensive use of non-GAAP and regulatory capital measures such as CET1, Tier 1 Capital and RWA.

No quantitative second-quarter results are provided within this 8-K text; investors must review Exhibits 99.1 and 99.2 for earnings metrics and management commentary.

AstraZeneca (AZN) reports that baxdrostat, its orally administered, first-in-class aldosterone synthase inhibitor, met the primary and all secondary endpoints in the pivotal Phase III BaxHTN trial involving 796 patients with uncontrolled or treatment-resistant hypertension. At both 2 mg and 1 mg doses, baxdrostat produced a statistically significant, clinically meaningful reduction in mean seated systolic blood pressure (SBP) at 12 weeks versus placebo when added to standard of care. The compound was 鈥済enerally well tolerated鈥� and showed a favourable safety profile. Additional endpoints鈥攊ncluding diastolic BP, SBP in the resistant-hypertension subgroup, proportion of patients achieving SBP <130 mmHg, and persistence of effect during a randomised withdrawal period鈥攚ere all achieved.

The BaxHTN study comprises three components: (1) a 12-week double-blind efficacy period, (2) an 8-week withdrawal test of durability, and (3) a 52-week safety follow-up. Data will be shared with regulators worldwide and presented during a late-breaking Hot Line session at the European Society of Cardiology Congress in August 2025.

Hypertension affects 1.3 billion people globally, and roughly half of U.S. patients on multiple drugs remain uncontrolled, underlining the addressable market. By specifically targeting aldosterone鈥攊mplicated in difficult-to-manage hypertension鈥攂axdrostat introduces a novel mechanism to a therapeutic area with limited innovation in two decades.

AstraZeneca obtained baxdrostat through its February 2023 acquisition of CinCor Pharma; a contingent value right of $10 per CinCor share (鈮�$0.5 billion) becomes payable upon NDA/MAA submission. Positive Phase III results substantially de-risk that milestone and accelerate the path toward regulatory filings.

AstraZeneca PLC (AZN) has secured European Commission approval for Imfinzi (durvalumab) as the first and only peri-operative immunotherapy for resectable muscle-invasive bladder cancer (MIBC). The label covers combination use with gemcitabine/cisplatin before radical cystectomy and Imfinzi monotherapy after surgery. Approval is based on the NIAGARA Phase III trial, where the Imfinzi regimen produced a 32% reduction in risk of disease progression/recurrence or death (EFS HR 0.68; p<0.0001) and a 25% reduction in overall mortality (OS HR 0.75; p = 0.0106) versus neoadjuvant chemotherapy alone. Two-year event-free and overall survival rates reached 67.8% and 82.2%, respectively, compared with 59.8% and 75.2% for the control arm.

Safety signals were consistent with known profiles; the addition of Imfinzi did not hinder surgical completion. The regimen received the highest 鈥淎鈥� grade on ESMO鈥檚 Magnitude of Clinical Benefit Scale, highlighting strong clinical value.

Commercially, the EU market represents more than 35,000 treated MIBC patients annually. Given Imfinzi鈥檚 prior U.S. approval and ongoing filings in Japan and other regions, the decision materially enlarges the drug鈥檚 addressable population and strengthens 础蝉迟谤补窜别苍别肠补鈥檚 oncology franchise. Management states Imfinzi is positioned to 鈥渢ransform the standard of care,鈥� setting a new survival benchmark in a setting that has seen few therapeutic advances in decades.

Toronto-Dominion Bank (TD) plans to issue unsecured Digital S&P 500 Index-Linked Notes (Series H) with a tenor of roughly 4鈥�4.3 years. The notes pay no coupon; instead, investors receive a single cash payment at maturity that depends on the S&P 500 Index (鈥淪PX鈥�) level on the valuation date.

• Upside profile: If SPX finishes at or above 80% of its initial level, holders receive a fixed 鈥淭hreshold Settlement Amount鈥� of $1,291.80鈥�$1,342.40 per $1,000 note, equating to a 29.18%-34.24% gross return.
• Downside profile: Should SPX decline more than 20%, principal is lost 1-for-1 with the index decline (e.g., a 30% fall yields $700; a 100% fall yields $0). Principal is not protected.
• Key terms: Threshold level = 80% of initial index level; minimum investment = $1,000; CUSIP 89115HHV2; expected maturity 鈮� 49鈥�52 months after pricing.
• Pricing economics: Public offering price = $1,000; underwriting discount = $33.10; proceeds to TD = $966.90. TD鈥檚 initial estimated value is only $928.30鈥�$958.30, reflecting internal funding rates, selling commissions and hedging costs鈥�a 4%-7% premium is embedded in the offer price.
• Liquidity & listing: Notes will not list on any exchange; secondary market making is discretionary by TD Securities (USA) LLC (TDS). Investors may face wide bid/ask spreads and early sales could be well below face value.
• Credit & structural risks: Payment depends on TD鈥檚 ability to pay; notes rank pari passu with other senior unsecured TD debt. Various conflicts of interest arise because TD acts as issuer, calculation agent and hedger.
• Tax considerations: TD and investors agree to treat the notes as prepaid derivative contracts for U.S. tax purposes, but alternative treatments are possible; Section 871(m) deemed-dividend rules are expected not to apply because the notes are not delta-one.

Investment thesis: The structure appeals to investors willing to trade equity risk for a capped, bond-like payoff if the S&P 500 does not fall more than 20% over four years. However, limited upside participation, full downside exposure beyond the 20% buffer, valuation discount and illiquidity should be weighed carefully against potential benefits.

AstraZeneca PLC (AZN) has received accelerated FDA approval for Datroway (datopotamab deruxtecan, Dato-DXd) to treat adult patients with locally advanced or metastatic EGFR-mutated non-small cell lung cancer (NSCLC) that has progressed after EGFR-directed therapy and platinum chemotherapy. The decision makes Datroway the first and only TROP2-directed therapy authorised in the US for lung cancer.

The approval was granted on the strength of the TROPION-Lung05 Phase II subgroup (n=114) and supported by TROPION-Lung01 Phase III data. Datroway delivered a confirmed objective response rate of 45 % (95 % CI: 35-54) with a median duration of response of 6.5 months; 4.4 % achieved complete responses and 40 % partial responses. Safety across 125 pooled patients was consistent with prior findings, with no new safety concerns.

Financially, AstraZeneca owes partner Daiichi Sankyo a US$45 million milestone payment upon approval. However, US product sales will be recognised by Daiichi Sankyo under the July 2020 collaboration agreement, limiting immediate top-line impact for AZN. Datroway is already approved in >30 countries for HR-positive/HER2-negative breast cancer, and more than 20 ongoing trials (eight Phase III in lung cancer) aim to broaden indications and move the drug earlier in treatment lines.

The FDA classified the submission as Priority Review and had previously granted Breakthrough Therapy Designation. Because the approval is accelerated, continued marketing depends on confirmatory clinical benefit, data expected from ongoing Phase III trials (TROPION-Lung14 & Lung15).

Strategically, the decision reinforces 础蝉迟谤补窜别苍别肠补鈥檚 growing antibody-drug conjugate (ADC) franchise alongside Enhertu and deepens its NSCLC portfolio (Tagrisso, Imfinzi, Imjudo). While near-term revenue is limited, successful commercial uptake and future label expansions could materially enhance long-term oncology growth.