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Autodesk issues statement in response to comments by Starboard Value

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SAN FRANCISCO, March 26, 2025 /PRNewswire/ — Autodesk, Inc. (NASDAQ: ADSK) today issued the following statement in response to comments made by Starboard Value LP (“Starboard”):

“Autodesk is delivering strong business and financial results, positioning us to drive significant shareholder value. Our strategy is working, as evidenced by our recent performance. We have also proactively strengthened our Board of Directors, including the recent appointments of two independent directors with demonstrated track records of value creation.”

Autodesk’s Strong Financial Results:  

Delivered FY 2025 revenue of $6.1 billion – up 16% annually since FY 2019 and 12% year-over-year   Reported FY 2025 non-GAAP operating margins that have increased >2,400 bps since FY 2019, and we expect an additional 200 – 300 bps of underlying margin expansion in FY 20261, with more to come over timeGenerated strong free cash flow momentum from $1.3 billion in FY 2024 to $1.6 billion in FY 2025 (22% growth) to increasing our FY 2026 free cash flow target to $2.075 billion – $2.175 billion2Significantly increased our share repurchase authorization and commitment, and we anticipate buying back $1.1 billion – $1.2 billion of stock in FY 2026, a 30 – 40% increase over FY 2025  Completed the launch of our new go-to-market approach in FY 2025 and are now in the optimization phase of the plan, from which we expect to drive continued growth and margin expansion

“We remain highly committed to ongoing, constructive dialogue with our shareholders, having engaged with investors representing more than 50% of our outstanding shares. Despite persistent and concerning tactics by Starboard during its self-serving campaign—including repeated misrepresentations and selling down nearly half of its position mid-campaign—we have continued to approach engagement in good faith.”

Starboard’s Self-Serving Campaign:  

Attempted to launch a proxy fight last year, including suing Autodesk in Delaware Court to reopen the nomination deadline it had missed—even though Starboard did not own a position in Autodesk when our nomination window was open3. Starboard’s claims were rejected by the Court as frivolous4Declined multiple invitations over many months to constructively engage, including to participate in our Board refreshment process   Accepted an invitation from Autodesk to present its ideas to the full Board, and days later, published a presentation with numerous false claims and misrepresentations  Demonstrated its interests are opportunistic and not necessarily aligned with long-term shareholders, having been in and out of Autodesk stock over the last year, including selling 44% of its position as of the end of the fourth quarter of 2024 Submitted a dissident slate a mere three hours before the nomination window closed rather than constructively engaging with our Board after we had been in contact with Starboard for over nine months  

“Although we have concerns regarding Starboard’s nomination approach and its selection of candidates, consisting of a Starboard principal and affiliates and friends who are closely aligned with its opportunistic interests, we remain open to meeting its nominees. The Board will review Starboard’s nominees and make a recommendation in due course. Our unwavering focus remains on acting in the best interests of Autodesk and all our shareholders.”  

About Autodesk
The world’s designers, engineers, builders, and creators trust Autodesk to help them design and make anything. From the buildings we live and work in, to the cars we drive and the bridges we drive over. From the products we use and rely on, to the movies and games that inspire us. Autodesk’s Design and Make Platform unlocks the power of data to accelerate insights and automate processes, empowering our customers with the technology to create the world around us and deliver better outcomes for their business and the planet. For more information, visit autodesk.com or follow @autodesk. #MakeAnything

Autodesk is a registered trademark of Autodesk, Inc., and/or its subsidiaries and/or affiliates in the USA and/or other countries. All other brand names, product names or trademarks belong to their respective holders. Autodesk reserves the right to alter product and services offerings, and specifications and pricing at any time without notice, and is not responsible for typographical or graphical errors that may appear in this document.

Safe Harbor Statement

This press release contains forward-looking statements that involve risks and uncertainties, including statements regarding momentum in our business and margin expansion, delivering sustainable value for shareholders, our share repurchase strategy, our review of Starboard’s nominees, our short-term and long-term goals and targets, our strategies, market and product positions, future performance and results, and all statements that are not historical facts. There are a significant number of factors that could cause actual results to differ materially from statements made in this press release, including: our strategy to develop and introduce new products and services and to move to platforms and capabilities, exposing us to risks such as limited customer acceptance (both new and existing customers), costs related to product defects, and large expenditures; global economic and political conditions, including changes in monetary and fiscal policy, foreign exchange headwinds, recessionary fears, supply chain disruptions, resulting inflationary pressures and hiring conditions; geopolitical tension and armed conflicts, and extreme weather events; costs and challenges associated with strategic acquisitions and investments; our ability to successfully implement and expand our transaction model and our sales and marketing optimization; dependency on international revenue and operations, exposing us to significant international regulatory, economic, intellectual property, collections, currency exchange rate, taxation, political, and other risks, including risks related to the war against Ukraine launched by Russia and our exit from Russia and the current conflict between Israel and Hamas; inability to predict subscription renewal rates and their impact on our future revenue and operating results; existing and increased competition and rapidly evolving technological changes; fluctuation of our financial results, key metrics and other operating metrics; our transition from up front to annual billings for multi-year contracts; deriving a substantial portion of our net revenue from a small number of solutions, including our AutoCAD-based software products and collections; any failure to successfully execute and manage initiatives to realign or introduce new business and sales initiatives, including our new transaction model for Flex; net revenue, billings, earnings, cash flow, or new or existing subscriptions shortfalls; social and ethical issues relating to the use of artificial intelligence in our offerings; our ability to maintain security levels and service performance meeting the expectations of our customers, and the resources and costs required to avoid unanticipated downtime and prevent, detect and remediate performance degradation and security breaches; security incidents or other incidents compromising the integrity of our or our customers’ offerings, services, data, or intellectual property; reliance on third parties to provide us with a number of operational and technical services as well as software; our highly complex software, which may contain undetected errors, defects, or vulnerabilities; increasing regulatory focus on privacy issues and expanding laws; governmental export and import controls that could impair our ability to compete in international markets or subject us to liability if we violate the controls; protection of our intellectual property rights and intellectual property infringement claims from others; the government procurement process; fluctuations in currency exchange rates; our debt service obligations; and our investment portfolio consisting of a variety of investment vehicles that are subject to interest rate trends, market volatility, and other economic factors.

Further information on potential factors that could affect the financial results of Autodesk are included in Autodesk’s Form 10-K and subsequent Forms 10-Q, which are on file with the U.S. Securities and Exchange Commission. Autodesk disclaims any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.

Additional Information and Where to Find It

In connection with Autodesk’s 2025 Annual Meeting, Autodesk will file with the U.S. Securities and Exchange Commission (“SEC”) and mail to the shareholders of record entitled to vote at the 2025 Annual Meeting a definitive proxy statement and other documents, including a universal proxy card. SHAREHOLDERS ARE ENCOURAGED TO READ THE PROXY STATEMENT AND ALL OTHER RELEVANT DOCUMENTS WHEN FILED WITH THE SEC AND WHEN THEY BECOME AVAILABLE BECAUSE THOSE DOCUMENTS WILL CONTAIN IMPORTANT INFORMATION. When filed with the SEC, the definitive proxy statement and universal proxy card will also be mailed to shareholders of record. Investors and other interested parties will be able to obtain the documents free of charge at the SEC’s website, www.sec.gov, or from Autodesk at its website: https://investors.autodesk.com/financials/sec-filings. You may also obtain copies of Autodesk’s definitive proxy statement and other documents, free of charge, by contacting Autodesk’s Investor Relations Department at investor.relations@autodesk.com. In addition, information regarding Autodesk’s directors and executive officers is available in its most recent proxy statement that was filed with the SEC (and is available at https://www.sec.gov/Archives/edgar/data/769397/000076939724000101/adsk-20240613.htm). Other information regarding potential participants in any such proxy solicitation will be filed by Autodesk.

Excluding the impact of foreign exchange for one year and the implementation of the new transaction model; see slide 10 in Autodesk’s Q4 FY 2025 earnings presentationFor a reconciliation of historical free cash flow metrics, see Autodesk’s annual report on Form 10-K for fiscal 2025 recently filed with the SEC”Based on the representations by plaintiffs’ counsel today, the plaintiffs sold their entire position in early March of this year”. Starboard Value v. Autodesk, 2024-0659, Delaware Chancery Court (Wilmington)”It’s been said that ‘a colorable claim for relief [] is essentially a non-frivolous cause of action.’ … But this showing while a minimal threshold is one that a party seeking expedition must, nevertheless, clear… The plaintiffs here don’t come close.” Starboard Value v. Autodesk, 2024-0659, Delaware Chancery Court (Wilmington)

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SOURCE Autodesk, Inc.

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Brii Bio Unveils New Data from Its Ongoing Phase 2 ENSURE Study at APASL 2025, Showcasing BRII-179’s Unique Potential to Prime and Boost Higher HBsAg Loss Through Target Patient Identification

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21 minutes ago

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March 30, 2025

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Preliminary data from Cohort 4 of the ENSURE study supports a novel enrichment strategy to utilize BRII-179 to identify patients who are immune responders and have the potential to achieve higher HBsAg loss at EOT48-week EOT data from Cohort 1-3 of the ENSURE study clearly suggests the added benefits of elebsiran towards achieving a higher rate of HBsAg loss in combination with PEG-IFNα

DURHAM, N.C. and BEIJING, China, March 30, 2025 /PRNewswire/ — Brii Biosciences Limited (“Brii Bio,” or the “Company”, stock code: 2137.HK), a biotechnology company developing therapies to improve patient health and choice across diseases with high unmet medical needs, announced new data from its ongoing Phase 2 ENSURE study as a late-breaking oral presentation at the 34th Annual Meeting of Asian Pacific Association for the Study of the Liver (APASL 2025) in Beijing, China.

ENSURE (NCT05970289) is a multicenter, open-label Phase 2 study. Cohorts 1-3 were designed to evaluate the contribution of elebsiran, an investigational small interfering ribonucleic acid (siRNA), in combination with pegylated interferon alpha (PEG-IFNα) in participants with chronic HBV infection with baseline hepatitis B surface antigen (HBsAg) of 100-3,000 IU/mL. Participants who completed 9 doses of BRII-179, a recombinant protein-based therapeutic vaccine, in combination with elebsiran (BRII-835) in a previous APAC study BRII-179-835-001 (NCT04749368) were enrolled to Cohort 4 of this study and received elebsiran and PEG-IFNα combination treatment. The design of Cohort 4 as part of this study was based on insight from previous studies that a significant proportion of the chronic HBV patients fail to generate a sufficient immune response after receiving multiple doses of BRII-179, and therefore unlikely to have the immune support to achieve sustainable functional cure.

Emerging data from Cohort 4 showed that participants who previously had BRII-179 induced anti-HBs response achieved a substantially higher rate of HBsAg seroclearance than those who did not. At Week 24, more than half of the BRII-179 responders (55.6% [10/18]) achieved HBsAg seroclearance, compared to only 10.0% (1/10) in non-responders. These latest data suggest that BRII-179 can serve as a predictive tool for enriching patients more likely to respond to curative therapies.

Additional data from Cohorts 1-3 of the ENSURE study showed that higher end of treatment (EOT) HBsAg loss and seroconversion rates in participants receiving elebsiran in combination with PEG-IFNα than those receiving PEG-IFNα alone.  

“The positive Cohort 4 data from the ENSURE study opens new doors for HBV functional cure,” said Dr. Grace Lai-Hung Wong, Professor of Gastroenterology and Hepatology at CUHK Medical Data Analytics Centre (MDAC) and Department of Medicine and Therapeutics in Hong Kong SAR, China. “Previous studies have suggested that BRII-179 may offer a unique opportunity to identify CHB patients who are able to elicit the necessary HBsAg antibody response. I believe these new findings provide clear evidence supporting such value proposition and further substantiate the role of BRII-179 in shaping future combination therapies.”

“We are encouraged that the Cohort 4 from the ENSURE study continue to support our enrichment strategy in developing a functional cure for chronic HBV in target populations,” said David Margolis, MD, Chief Medical Officer of Brii Bio. “The results underscore the potential of BRII-179 in identifying patients who are more likely to respond to regimens aimed at functional cure, thereby enhancing functional cure rates in the target population while reducing exposure to costly therapies for those with a lower probability of cure. We are committed to advancing BRII-179 in combination with various modalities through our ongoing studies and collaborations with strategic partners, aiming to deliver higher functional cure rates to 254 million patients worldwide living with chronic HBV infection.”

Abstract Number: OP0335

Presentation Title: Responders to Prior BRII-179 Treatment Achieved Faster and Higher Rate of HBsAg Seroclearance Following Treatment of Elebsiran and PEG-IFNα in Participants with Chronic Hepatitis B Virus Infection: Preliminary Data from ENSURE Study

Presenter: Grace Lai-Hung Wong, MBChB (CUHK), MD (CUHK), FRCP (Lond, Edin), FHKCP, FHKAM (Medicine), Professor of Gastroenterology and Hepatology at CUHK Medical Data Analytics Centre (MDAC) and Department of Medicine and Therapeutics in Hong Kong SAR, China

Among the 28 of the 31 participants enrolled in Cohort 4 with baseline HBsAg ≥ 100 IU/mL being analyzed, 18 participants with peak anti-HBs ≥ 10 IU/L induced by prior BRII-179 treatment were defined as BRII-179 responders and 10 participants with peak anti-HBs < 10 IU/L were defined as non-responders.At Week 24 of treatment with elebsiran + PEG-IFNα, 39.3% (11/28) of the Cohort 4 participants achieved HBsAg seroclearance.The rate of HBsAg seroclearance at Week 24 in the BRII-179 responders was 55.6% (10/18), notably higher compared to the non-responders at 10% (1/10).Responders to prior BRII-179 treatment appeared to achieve a faster HBsAg seroclearance compared to BRII-179 naïve participants receiving elebsiran + PEG-IFNα as previously reported.Elebsiran and PEG-IFNα combination therapy was generally safe and well tolerated in participants with virally suppressed chronic HBV infection.Treatment with elebsiran + PEG-IFNα is ongoing for 48 weeks.

Abstract Number: LB0009

Presentation Title: Higher end of treatment (EOT) HBsAg loss and seroconversion rates in participants with chronic HBV infection receiving elebsiran (BRII-835) and pegylated interferon alfa-2a (PEG-IFNα) compared to PEG-IFNα alone: Week 48 results from ongoing ENSURE study

Presenter: Jidong Jia, M.D., Ph.D., Professor of Medicine at the Liver Research Centre, Beijing Friendship Hospital, Capital Medical University in Beijing, China

The rates of HBsAg seroclearance at EOT in elebsiran 200 mg + PEG-IFNα and elebsiran 100 mg + PEG-IFNα cohorts were 26.3% (5/19) and 33.3% (6/18), respectively, notably higher compared to PEG-IFNα alone cohort (5.6%) in participants with baseline HBsAg levels 100-3,000 IU/mL.Greater HBsAg reductions at EOT were observed in elebsiran + PEG-IFNα combination cohorts (mean [SE]: -2.47 [0.28] or -3.01 [0.28] log10 IU/mL in elebsiran 200 mg or 100 mg, respectively) than in PEG-IFNα cohort (-1.02 [0.30] log10 IU/mL).Elebsiran in combination with PEG-IFNα at both 200 mg and 100 mg doses achieved similar HBsAg reductions and seroclearance rates. Elebsiran and PEG-IFNα combination therapy was generally safe and well tolerated in participants with virally suppressed chronic HBV infection.Post-treatment follow-up is ongoing and will continue for 24 weeks after discontinuation of treatment.

As part of Brii Bio’s unique approach to developing a functional cure for HBV, the Company and its partners are actively progressing multiple combination studies with our differentiated portfolio, including BRII-179, a recombinant protein-based HBV immunotherapeutic being evaluated in multiple combination studies with elebsiran led by Brii Bio; elebsiran being evaluated in combination with PEG-IFNα  in studies led by Brii Bio and tobevibart, an investigational broadly neutralizing monoclonal antibody targeting HBV, being evaluated  in multiple Phase 2 and 3 tobevibart and elebsiran combination studies led by Vir Biotechnology. Key data readouts will be shared in the coming months at the scientific conferences throughout 2025.

About Hepatitis B

Hepatitis B virus (HBV) infection is one of the world’s most significant infectious disease threats with more than 254 million people infected globally.[1] Chronic HBV infection is the leading cause of liver disease and an estimated 820,000 people die of complications from chronic HBV infection each year.[1] HBV is of exceptional concern in China, where 87 million people are chronically infected.[2]

About BRII-179

BRII-179 is a novel recombinant protein-based HBV immunotherapeutic candidate that expresses the Pre-S1, Pre-S2, and S HBV surface antigens, and is designed to induce enhanced and broad B-cell and T-cell immunity. In November 2023, the Center for Drug Evaluation (the “CDE”) of the National Medical Products Administration (the “NMPA”) granted BRII-179 Breakthrough Therapy Designation.

About Elebsiran (BRII-835, VIR-2218)

Elebsiran is an investigational subcutaneously administered HBV-targeting siRNA designed to degrade hepatitis B virus RNA transcripts and limit the production of hepatitis B surface antigen. It has the potential to have direct antiviral activity against HBV and HDV. It is the first siRNA in the clinic to include Enhanced Stabilization Chemistry Plus technology to enhance stability and minimize off-target activity, which potentially can result in an increased therapeutic index. Brii Bio licensed exclusive rights to develop and commercialize elebsiran for the Greater China territory from Vir Biotechnology, Inc. in 2020.

About Brii Bio

Brii Biosciences Limited (“Brii Bio“, stock code: 2137.HK) is a biotechnology company developing therapies to address major public health challenges where patients experience high unmet medical needs, limited choice and significant social stigmas. With a focus on infectious diseases, the Company is advancing a broad pipeline of unique therapeutic candidates with lead programs against hepatitis B virus (HBV) infection. The Company is led by a visionary and experienced leadership team and has operations in key biotech hubs, including Raleigh-Durham, the San Francisco Bay Area, Beijing and Shanghai. For more information, visit www.briibio.com.

[1] World Health Organization. (April 2024). Global hepatitis report 2024: action for access in low- and middle-income countries. World Health Organization. Retrieved from https://www.who.int/publications/i/item/9789240091672

[2] World Health Organization. Hepatitis. World Health Organization. Retrieved from https://www.who.int/china/health-topics/hepatitis#:~:text=There%20are%2087%20million%20people,living%20with%20chronic%20hepatitis%20C.

 

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SOURCE Brii Biosciences Limited

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Charge Up, SEA! Anker Powers Iconic Landmarks Across Southeast Asia With Immersive AR Campaign

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9 hours ago

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March 30, 2025

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HO CHI MINH CITY, Vietnam, March 30, 2025 /PRNewswire/ — Anker Innovations, a global leader in mobile charging and consumer electronics, is redefining the boundaries of innovation with its latest campaign, Charge Up, SEA!—an electrifying fusion of augmented reality (AR) and computer-generated imagery (CGI) set to energize Southeast Asia. These experiences allow users to interact with technology and explore the future of charging, reinforcing Anker’s leadership in global innovation.

“At Anker, our mission is to ignite possibilities through ultimate innovation,” said Leon Wu, General Manager of Southeast Asia at Anker Innovations. “We’ve not only created products that lead the industry in performance but also ones that fundamentally change the way people engage with power. This campaign reflects our vision of an interconnected world where innovation enhances the everyday lives of Southeast Asia consumers.”

Revolutionizing Charging with Anker

At the core of Charge Up, SEA! is Anker’s most advanced charging lineup to date, the Anker Prime Series. This revolutionary series redefines multi-device fast charging, offering a powerful, intelligent, and interactive solution that transforms what was once a passive task into an engaging experience. Designed with extensive user insights, the Anker Prime Series is engineered to be the ultimate power source for today’s fast-paced, tech-driven world, empowering users with speed, efficiency, and innovation.

This innovation powers Charge Up, SEA!, an AR-driven journey that brings Anker’s cutting-edge technology to life by “charging” iconic landmarks across Southeast Asia. The visual narrative of the campaign showcases Anker Prime chargers energizing these landmarks, reflecting the brand’s commitment to efficient and intelligent charging solutions. Through advanced AR technology, Anker’s innovations seamlessly integrate into the cityscapes, reinforcing its position as the leader in next-generation charging while reshaping how users experience power in an increasingly connected world.

Lights Up the City’s landmark with Ultimate Innovation

Starting February 27, “Charge Up, SEA!” will light up five countries—Singapore, Malaysia, the Philippines, Indonesia, and Vietnam—through immersive digital storytelling and interactive experiences. In Singapore and Malaysia, users will have the exclusive opportunity to experience Anker’s AR world in person at key landmarks, while all five countries will engage with high-quality CGI videos that bring Anker Prime to life. These experiences allow users to interact with technology and explore the future of charging, reinforcing Anker’s leadership in global innovation.

For the Charge Up, SEA! campaign, Anker will launch a futuristic CGI video in Vietnam. The creative concept features the supertall Landmark 81 skyscraper in Ho Chi Minh City as a physical backdrop, seamlessly integrating Anker’s innovative technology with local culture, resulting in a visually striking fusion of cutting-edge technology and heritage.

In this CGI video, Anker innovatively creates a stunning virtual space, with the Anker 30W Zolo Charger acting as the key to unlock this realm. The charger powers up the Landmark 81, and thanks to its outstanding temperature control, the space is immediately enveloped in polar ice and snow. This transformation sparks an innovative interaction between the landmark and the virtual world. To further energize the virtual space, the Anker 25,000mAh 165W Power Bank, the Anker 140W Charger, and the Anker Prime 250W GaN Desktop Charger deliver a continuous flow of high-speed power, keeping the experience alive.

Engaging with the dynamic world, consumers will witness how Anker’s advanced charging technology seamlessly integrates into this digital universe, providing a truly futuristic experience and a glimpse into the future of connected, intelligent charging.

Powering the Future with Limitless Possibilities

As a global pioneer in charging technologies, Anker consistently integrates user feedback and cutting-edge research to drive its innovation. With its innovations, Anker offers a glimpse into the future of sustainable, efficient power that is both portable and powerful—ideal for the modern, always-connected consumer.

As Anker expands its presence in Southeast Asia, the Charge Up, SEA! campaign reaffirms its commitment to pioneering innovation and user-centered design. By merging cutting-edge digital experiences with state-of-the-art charging technology, Anker is not just powering devices—it’s reshaping how consumers connect with the future.

Anker invites consumers across Southeast Asia to experience the next generation of charging—where every city, every device, and every moment is powered by limitless possibilities.

About Anker

Anker is the world’s #1 mobile charging brand and a developer of high-speed charging technologies for the home, car, and on the go. This includes wall plugs, wireless chargers, car chargers, power banks, cables, and more. Find out more about Anker at anker.com.

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SOURCE Anker Innovations

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Hisense Broadband Multimedia Technologies Co., Ltd. (HBMT) forms Ligent Inc. by Consolidating North American and Thailand Operations

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12 hours ago

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March 29, 2025

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Hisense Broadband Multimedia Technologies Co., Ltd. (HBMT) forms a new entity, Ligent Inc. by Consolidating North American and Thailand Operations to better serve its US and global customers.

SAN JOSE, Calif., March 29, 2025 /PRNewswire-PRWeb/ — Hisense Broadband Multimedia Technologies Co., Ltd. (HBMT), a leading innovator of high-speed optical transceivers, active optical cables, ONTs and Terminal Devices, is pleased to announce the consolidation of its North American business operations to form a new entity, LIGENT Inc. officially registered in Delaware, USA. This strategic move aims to streamline our operations and help to better serve its broad range of customers in North America as well as in Europe.

“The formation of LIGENT enables us to better serve our customers, accelerate our growth and capitalize on major opportunities in this new era of AI and accelerated computing. The consolidation reflects our firm commitment to our customers and our continuous improvement for the future.”

The new independent entity combines the expertise resources of: Hisense Thailand (Manufacturing), Hisense Photonics (R&D and Manufacturing) and Hisense Broadband North America (S&M, R&D, and Quality Service Assurance); creating a focused team that will continue to drive innovation and deliver superior services and values to its customers.

The consolidation has already commenced in the background, with the initial phase successfully completed in April 2024. This strategic initiative is set to continue over the next few quarters, ensuring minimal disruption to its valued customers and partners. During this transition, HBMT remains steadfast in its commitment to delivering exceptional service and support to its customers while driving sustained growth.

“We are thrilled to embark on this important journey,” said Dr. Jin Hong, President & CEO of Ligent Inc., and Executive VP of HBMT & President of its Optical Transceiver Business. “The formation of LIGENT enables us to better serve our customers, accelerate our growth and capitalize on major opportunities in this new era of AI and accelerated computing. The consolidation reflects our firm commitment to our customers and our continuous improvement for the future.”

Media Contact

Media Relations, Ligent, 1 4083530623, mediarelations@ligent.com, www.ligent.com 

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SOURCE Ligent

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