Operator

Good afternoon, ladies and gentlemen, and welcome to the LENZ Therapeutics’ First Quarter 2026 Financial Results Conference Call. [Operator Instructions] Following prepared remarks from management, we will conduct a question-and-answer session. And instructions will follow at that time. As a reminder, this call is being recorded.

At this time I would like to turn the call over to Dan Chevallard, Chief Financial Officer. Please go ahead.

Daniel Chevallard
Chief Financial Officer

Thank you. Good afternoon, and thank you for joining us today. My name is Dan Chevallard, Chief Financial Officer of LENZ Therapeutics. We are joined today by Eef Schimmelpennink, our President and Chief Executive Officer; Shawn Olsson, our Chief Commercial Officer; and Dr. Marc Odrich, our Chief Medical Officer.

Before we begin, I would like to remind you that this call will contain forward-looking statements regarding LENZ’s future expectations, plans, prospects, corporate strategy, regulatory and commercial plans and expectations, cash runway projections and performance. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors and risks, including those discussed in our filings with the SEC, which can also be found on our website.

In addition, any forward-looking statements represent only our views as of the date of this webcast

OKLAHOMA CITY — As the Oklahoma City Thunder push through the 2026 NBA playoffs as defending champions, superstar guard Shai Gilgeous-Alexander stands as the overwhelming favorite to win his second consecutive Finals MVP award, with betting odds currently sitting at -155 to -160 across major sportsbooks.

The 27-year-old Canadian, who captured both regular-season MVP and Finals MVP honors in 2025, has once again dominated the league this season. His blend of scoring efficiency, playmaking vision and defensive versatility has powered the Thunder to the top seed in the Western Conference and a strong position in their conference semifinal series.

Dominant regular season sets stage

Gilgeous-Alexander led the league in scoring for much of the year while maintaining elite efficiency. His ability to create shots in isolation, attack the rim and make precise passes has made him nearly unguardable. Teammates and coaches praise his leadership and basketball IQ, which have elevated an already talented young roster.

The Thunder enter the later playoff rounds as heavy favorites to repeat as champions. Their depth, defensive identity and home-court advantage position them well, with many analysts projecting a relatively smooth path if they avoid major injuries.

Path to back-to-back Finals MVP

To repeat as Finals MVP, SGA would need to deliver standout performances across the championship series — something he accomplished last year with consistent 30-point games, clutch plays and lockdown defense. His versatility allows him to impact winning in multiple ways, making him the clear choice if Oklahoma City claims the title.

Betting markets reflect this confidence. Shai sits well ahead of other contenders like Victor Wembanyama (+380 to +500) and potential Eastern Conference stars. Only a major injury or unexpected collapse would derail his candidacy.

Challenges and competition

While Shai is the favorite, the playoffs remain unpredictable. The Western Conference features dangerous opponents capable of forcing tough series. A prolonged battle could open the door for teammates like Chet Holmgren or Jalen Williams to emerge as dark-horse MVP candidates if they deliver breakout performances.

Gilgeous-Alexander has faced criticism in the past for occasional playoff inconsistencies, though his 2025 championship run largely silenced doubters. Repeating as Finals MVP would place him in rare company alongside legends like Michael Jordan and LeBron James who achieved back-to-back dominance.

Team context boosts case

The Thunder’s balanced roster complements Shai perfectly. Their switch-heavy defense and versatile attacking options create opportunities for him to shine without excessive hero-ball. Coach Mark Daigneault’s system maximizes Gilgeous-Alexander’s strengths while distributing responsibility across the lineup.

If Oklahoma City advances and wins the title, SGA’s usage rate, efficiency and clutch impact would likely make him the clear MVP choice. His ability to elevate teammates while carrying the scoring load has been a hallmark of his game this postseason.

Historical perspective

Only a handful of players have won consecutive Finals MVPs. Repeating the feat would further solidify Gilgeous-Alexander’s place among the game’s elite. At 27, he is entering his prime and shows no signs of slowing down. A second ring and second Finals MVP would mark the beginning of what many expect to be a dynasty in Oklahoma City.

Fan and expert views

Thunder fans are buzzing with excitement as their team chases history. National analysts largely agree that a championship would almost certainly result in SGA repeating as Finals MVP, given his central role in OKC’s success. Even rival players have acknowledged his dominance in anonymous polls.

However, some caution against crowning him prematurely. The playoffs demand sustained excellence, and any injury or team slump could shift the narrative. Still, the consensus leans heavily toward Gilgeous-Alexander claiming the honor again if the Thunder complete their mission.

What would it mean for his legacy

Winning back-to-back Finals MVPs at this stage of his career would elevate Shai into the conversation of the league’s top players. Combined with regular-season MVP honors, it would cement his status as a generational talent and the face of the new NBA era.

For Oklahoma City, a repeat championship would validate years of patient rebuilding and smart roster construction. The city has embraced its young stars, and another title run would create lifelong memories for fans.

Looking ahead

As the Western Conference semifinals and beyond unfold, all eyes remain on Gilgeous-Alexander. His health, performance and leadership will dictate not only the Thunder’s championship hopes but also his place in NBA history.

While nothing is guaranteed in the playoffs, Shai enters this postseason as the clear frontrunner for Finals MVP. If Oklahoma City delivers another championship, the Bill Russell Trophy is likely to stay in his hands for a second straight year — a rare achievement that would mark another milestone in an already stellar career.

The basketball world watches with anticipation as one of the league’s brightest stars chases greatness on the biggest stage.

Gauges in Japan, South Korea and Australia advanced, with the MSCI Asia Pacific Index rising 0.3%. That came after Wall Street benchmarks edged up to a record close on Monday and the Philadelphia Semiconductor Index jumped 2.6% to an all-time high.

West Texas Intermediate crude held above $98 a barrel Tuesday after President Donald Trump said the ceasefire with Iran was on “massive life support” and rejected the Islamic Republic’s latest peace proposal. Brent rose 0.3%.

Higher oil prices weighed on the bond market, which has priced out the odds of interest rate cuts by the Federal Reserve this year. The 10-year Treasury yield climbed six basis points to 4.41% on Monday, with investors getting a read on US inflation Tuesday.

Solid US earnings have driven a fresh round of upgrades to Wall Street’s year-end targets for the S&P 500, as investors bet corporate profits can sustain the rally despite lingering Middle East tensions. Global equities have erased losses tied to the Iran conflict and have climbed to records, supported by expectations that heavy spending on artificial intelligence, particularly in Asia, will underpin earnings growth.

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“Markets are pricing both AI-driven growth and the Middle East supply shock,” said Jean Boivin, head of BlackRock Investment Institute. He said the buildout of AI data centers is offsetting the oil supply shock’s “drag on growth.”
The fragile ceasefire in the Middle East appeared to waver, with Trump calling Iran’s response to his peace proposal a “piece of garbage” and that he “didn’t even finish reading it.”Trump didn’t indicate whether the US would resume military attacks on Iran as he previously has threatened if the Islamic Republic’s leadership didn’t agree to his terms. Trump told Fox News earlier on Monday that he’s looking at reviving a plan to escort ships through the Strait of Hormuz.

“An agreement remains elusive and risks remain elevated,” said Mark Haefele at UBS Chief Investment Office. “Both sides remain under pressure to conclude a deal.”

DUBAI, United Arab Emirates — Oil prices jumped sharply Monday after President Donald Trump dismissed Iran’s response to a U.S. peace proposal as “TOTALLY UNACCEPTABLE,” raising fears that the 10-week-old conflict will drag on and keep the Strait of Hormuz largely paralyzed for shipping.

Brent crude futures climbed as much as 4% in early trading before settling around 2-2.7% higher near $103–$104 per barrel. West Texas Intermediate crude rose similarly, trading near $98 per barrel. The surge comes as the strategic waterway — which normally carries about one-fifth of global oil and LNG — remains severely restricted, driving energy markets into a state of heightened volatility.

Trump’s blunt rejection, posted on Truth Social shortly after receiving Iran’s counterproposal via intermediaries, left little room for immediate diplomatic progress. “I have just read the response from Iran’s so-called ‘Representatives.’ I don’t like it — TOTALLY UNACCEPTABLE!” he wrote, without elaborating on specific objections.

Deadlock prolongs energy crisis

The swift dismissal dashed hopes for a quick resolution to the conflict that began in late February. Iran had proposed terms that included guarantees against future attacks and steps toward sanctions relief, but U.S. officials viewed them as insufficient, particularly regarding nuclear enrichment and free transit through the Strait of Hormuz.

The waterway remains a central flashpoint. With shipping largely stalled, hundreds of tankers have been rerouted or left waiting, causing significant delays and skyrocketing insurance costs. Three more tankers reportedly exited the strait with trackers switched off in recent days, adding to supply uncertainty.

Energy analysts warn that prolonged disruption could push Brent crude toward $110–$120 per barrel if no breakthrough occurs soon. Before the war, prices hovered around $70. The current levels are already contributing to inflationary pressures globally and straining economies heavily reliant on imported energy.

Market and economic ripple effects

The oil spike weighed on broader financial markets. While major U.S. stock indexes hovered near records with mixed performance, energy stocks gained ground. Airlines, shipping companies and consumer discretionary sectors faced headwinds from higher fuel costs.

Globally, Asian and European markets showed caution. Import-dependent nations in Europe and Asia are particularly exposed, with some governments already exploring strategic reserve releases or alternative suppliers. The International Energy Agency continues monitoring the situation closely.

Diplomatic stalemate

U.S. officials had pushed for restoration of free navigation through the strait and suspension of Iranian nuclear activities as core elements of any deal. Iran’s counteroffer reportedly fell short on key security assurances, prompting Trump’s strong response. Pakistani mediators and other back channels remain active, but momentum has clearly stalled.

Iran has vowed to continue resisting what it calls foreign interference, while maintaining that any agreement must respect its sovereignty. The deadlock leaves both sides in an uneasy limbo, with sporadic clashes continuing in the region.

Impact on global energy security

The crisis highlights the world’s continued vulnerability to disruptions in the Strait of Hormuz. Even partial closures have dramatic effects on supply chains, pricing and inflation. Alternative routes are limited and more expensive, while new pipeline and LNG infrastructure cannot quickly compensate for lost volumes.

U.S. domestic production provides some buffer, but global markets remain tightly linked. Higher prices are already filtering through to gasoline, heating oil and consumer goods, potentially complicating central bank efforts to manage inflation.

What comes next

Markets will watch closely for any further statements from Trump or Iranian officials. Additional U.S. naval operations in the region or new sanctions could intensify pressure, while any credible breakthrough in talks might ease prices rapidly. For now, traders are bracing for continued volatility.

The episode underscores how geopolitical flashpoints can swiftly override economic fundamentals. As summer driving season approaches in the Northern Hemisphere and global demand remains robust, the risk of sustained higher energy costs looms large.

Oil’s surge following Trump’s rejection serves as a stark reminder of the fragile balance in global energy markets — where a single social media post can move prices by billions of dollars and reshape economic outlooks worldwide. The coming days will be critical in determining whether diplomacy can regain momentum or if further escalation drives costs even higher.

An Indiana-based company is voluntarily recalling one of its dog food products due to potential salmonella contamination.

Albright’s Raw Pet Food of Fort Wayne is recalling one lot of its Chicken Recipe for Dogs Complete and Balanced product after routine sampling by the Food and Drug Administration found one composite sample testing positive for salmonella.

“While we continue to evaluate all available data, Albright’s Raw is proceeding with this voluntary recall to ensure the highest level of safety and transparency,” the company said in the recall notice.

Albright’s Raw Pet Food is based in Fort Wayne, Indiana. (Getty Images)

CHOCOLATE RECALL HITS COMPANY’S ENTIRE PRODUCT LINEUP OVER SALMONELLA CONTAMINATION FEARS

The recalled products are sold as frozen 1-pound bricks in clear vacuum packaging, and are generally distributed in 30-pound cases, the company said.

One lot of the product is affected and was sold directly to consumers nationwide and to select retailers in California, Massachusetts, North Carolina, New York, South Carolina and Wisconsin and by direct online sales.

The recalled products are sold as frozen 1-pound bricks in clear vacuum packaging. (iStock)

FDA EXPANDS CHOCOLATE RECALL TO 8 PRODUCTS NATIONWIDE OVER SALMONELLA FEARS

Albright’s Raw Pet Food said no illnesses associated with the affected lot have been confirmed or reported.

The company advises customers who have purchased the affected product not to feed it to pets and to throw it out or destroy it “in a way that children, pets, and wildlife cannot access it.” A receipt, pictures of the product and information on the place of purchase are required when requesting a refund.

A bag of Albright’s Raw Pet Food’s Chicken Recipe for Dogs Complete and Balanced. (FDA)

MULTIPLE SNACK MIXES RECALLED, INCLUDING TARGET PRODUCT, OVER RISK OF SALMONELLA CONTAMINATION

“Albright’s Raw is conducting further investigation on, including third-party laboratory testing, to better understand this finding,” the company said in the FDA notice. “We remain committed to producing safe, high-quality, biologically appropriate pet food and will continue to update our customers and partners as more information becomes available.”

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FOX Business reached out to Albright’s Raw Pet Food for additional comment.

Operator

Good morning, everyone, and welcome to the Kaltura First Quarter 2026 Earnings Call. All material contained in the webcast is the sole property and copyright of Kaltura with all rights reserved.

For opening remarks and introductions, I now turn the call over to Erica Mannion at Sapphire Investor Relations. Please go ahead, Erica.

Erica Mannion
Sapphire Investor Relations, LLC

Thank you, operator, and good afternoon. I am joined by Ron Yekutiel, Kaltura’s Co-Founder, Chairman, President and Chief Executive Officer; and Liron Sharon, Executive Vice President of FP&A and Interim Principal Financial Officer. Ron will begin with a summary of the results for the first quarter ended March 31, 2026, and provide a business update. Liron will then review the financial results for the first quarter of 2026 in greater detail, followed by the company’s outlook for the second quarter and full year 2026. We will then open the call for questions.

Please note that this call will include forward-looking statements within the meaning of the federal securities laws, including, but not limited to, statements regarding Kaltura’s expected future financial results, management’s expectations and plans for the business, including execution on our strategic transition and upcoming product launches, integration and expected benefits of our recent acquisitions, trends in customer engagement, anticipated headwinds and our expectations around capabilities and benefits of our products, including AI technologies. These statements are neither promises nor guarantees and involve risks and uncertainties that may cause actual results to differ materially from those discussed here. Important factors that could cause actual results to