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☆ China approves two domestically developed COVID drugs
▼ + stars: | 2023-01-29 | by ( ) www.reuters.com time to read: 1 min

BEIJING, Jan 29 (Reuters) - China has approved two domestically developed oral medicines for COVID-19 patients with mild symptoms, the National Medical Products Administration said on Sunday. The drugs, used for treating adult patients with mild to moderate COVID-19 infections, have been developed by Simcere Pharmaceutical Group <2096. HK> and a unit of Shanghai Junshi Biosciences Co Ltd (688180.SS), the administration said in a statement on its website. China abandoned its stringent "zero COVID" policy in early December after protests against it, allowing people to travel and the virus to spread rapidly throughout the country, boosting demand for COVID treatments. Reporting by Kevin Yao; Editing by Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

☆ The recipe biotech startups use to go public is being thrown out. 5 startups CEOs reveal how they're changing their focus.
▼ + stars: | 2023-01-26 | by ( Andrew Dunn | Yeji Jesse Lee | ) www.businessinsider.com time to read: +6 min

Biotech-startup CEOs are taking more nuanced approaches to going public amid a downturn. SAN FRANCISCO — After record years of initial public offerings in 2020 and 2021, biotech leaders told Insider that the "recipe" for going public no longer works. Most biotechs saw their valuations increase by between 20% and 50% after going public. Insider asked five startup CEOs about how they approach going public and their perspectives on the biotech-IPO market for 2023. But going public doesn't carry an importance of validation for herself or the field of biotech companies specializing in AI, she said.

☆ China-based biopharmaceutical firm says its Covid drug causes fewer side effects than Paxlovid
▼ + stars: | 2023-01-16 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailChina-based biopharmaceutical firm says its Covid drug causes fewer side effects than PaxlovidYao Sheng of Junshi Biosciences discusses the clinical trial results of its antiviral pill, VV116.

☆ Novavax's longtime CEO Stanley Erck to retire
▼ + stars: | 2023-01-09 | by ( ) www.reuters.com time to read: +1 min

Jan 9 (Reuters) - Novavax Inc (NVAX.O) said on Monday its longtime chief executive officer, Stanley Erck, would retire and be succeeded by industry veteran John Jacobs, at a time when the COVID-19 vaccine maker looks to catch up with larger rivals. He joins Novavax from Harmony Biosciences (HRMY.O), where he served as CEO since June 2018. Erck, who has been at the helm of the company since 2011, was responsible for bringing Novavax's COVID vaccine, its first commercial product, to the market. However, the shot has been plagued by manufacturing snags, regulatory delays and sluggish uptake amid a global supply glut for vaccines and waning demand. Reporting by Raghav Mahobe in Bengaluru; Editing by Saumyadeb Chakrabarty and Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

☆ Stocks making the biggest moves midday: World Wrestling Entertainment, Bed Bath & Beyond, Costco and more
▼ + stars: | 2023-01-06 | by ( Sarah Min | ) www.cnbc.com time to read: +3 min

World Wrestling Entertainment — The wrestling entertainment stock surged 21% after WWE announced that founder Vince McMahon is returning to its board of directors and that the company is exploring strategic moves. R1 RCM — Shares of the healthcare technology firm soared more than 11% after the company raised its revenue outlook for 2023. Costco Wholesale — Shares of the big-box retailer jumped more than 6% after it reported solid sales numbers for December. First Solar — Shares of First Solar rose more than 4% after Wells Fargo upgraded it to overweight, saying Europe's energy crisis and the Inflation Reduction Act in the U.S. will boost demand for solar energy. Bed Bath & Beyond — Shares plunged 20% after the retailer warned it was running out of cash and was considering bankruptcy.

☆ Biotech investor Brad Loncar shares 10 predictions for 2023, including a hot new cancer target, Nobel Prize winners, and a biotech founder running for president
▼ + stars: | 2023-01-04 | by ( Andrew Dunn | ) www.businessinsider.com time to read: +14 min

Loncar shared his 2023 forecast, including new drugs, Nobel Prize winners, and more globalization. Brad Loncar isn't expecting a miraculous rebound for the biotech industry in 2023. In an interview with Insider, Loncar shared 10 predictions for biotech in 2023, ranging from Nobel Prize winners and presidential runs to hot cancer targets and bankruptcy worries. 2022 was a rough year for the biotech industry, which once again underperformed the stock market. The industry runs to the next super-hot cancer target: Claudin 18.2In cancer research, drug companies are always on the hunt for the next promising target.

☆ This biotech founder has a new plan to treat Tourette Syndrome, which affects 200,000 Americans each year
▼ + stars: | 2023-01-03 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Emalex Bioscience is developing a new treatment for Tourette Syndrome. Tourette Syndrome currently has no cure and few treatment options. That's how in 2018 he came to found Emalex Biosciences, a pharmaceutical startup, to test a new drug for Tourette Syndrome. Emalex's drug works in a different way than other Tourette treatmentsIn spite of a tough market for biotech startups, Emalex has managed to raise $250 million from investors in November to develop its Tourette Syndrome drug candidate, called ecopipam. Many of the current approved therapies for Tourette Syndrome target D1 dopamine receptors in the brain.

☆ A promising new Covid pill shows key advantages over Paxlovid in trial
▼ + stars: | 2022-12-30 | by ( Aria Bendix | ) www.cnbc.com time to read: +2 min

A new antiviral pill for Covid was found to be as effective as Paxlovid at curbing mild to moderate illness among people at high risk of severe disease in a Phase 3 trial in China. The results, published Wednesday in The New England Journal of Medicine, suggest that the treatment had fewer side effects than Paxlovid, the go-to antiviral for high-risk patients. Around 67% of people who took the experimental pill, called VV116, reported side effects, compared to to 77% who took Paxlovid. In the trial of VV116, more than 380 people took the experimental drug, while a similarly sized group took Paxlovid. The median time to recovery — defined as no Covid symptoms for two consecutive days — was four days for VV116 recipients and five days for those who took Paxlovid.

Around 67% of people who took the experimental pill, called VV116, reported side effects, compared to to 77% who took Paxlovid. In the trial of VV116, more than 380 people took the experimental drug, while a similarly sized group took Paxlovid. The median time to recovery — defined as no Covid symptoms for two consecutive days — was four days for VV116 recipients and five days for those who took Paxlovid. Three-quarters of the trial participants were vaccinated, though the study found consistent results regardless of vaccine status. The National Institutes of Health recommends Paxlovid, with molnupiravir as an alternative in situations when neither Paxlovid nor remdesivir is available or appropriate.

☆ Stocks are headed for their worst year since 2008, but some names doubled or more in 2022
▼ + stars: | 2022-12-29 | by ( Sarah Min | ) www.cnbc.com time to read: +4 min

Stocks may be careening toward their worst year since 2008, but some names are completing a remarkable run after doubling or more in 2022. In 2022, the Dow Jones Industrial Average has lost 8.4%, while the S & P 500 shed 19.2%. These stocks are up more than 100% this year, and include tankers for petroleum products, energy companies such as coal firms, and biotech and pharmaceutical names, according to CNBC. Ardmore Shipping and Scorpio Tankers were the top tanker stocks, both up about 316% for the year. Energy companies came out on top in 2022 following a surge in oil and gas prices — which market participants say will remain elevated given expectations of tight supply ahead.

☆ Stocks making the biggest moves midday: Tesla, Southwest, Apple, AMC and more
▼ + stars: | 2022-12-28 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Baird also trimmed its price target on shares to $252 from $316 a share. AMC Entertainment – AMC Entertainment shares dipped about 3% a day after CEO Adam Aron tweeted that he asked the company's board to freeze his 2023 pay and urged other executives to forgo salary bumps. Maxeon — Shares slid 8% after the solar company announced Bill Mulligan would be the new CEO. The firm gave the stock a price target of $29, which presents an upside of 75.4% over where it closed Tuesday.

☆ Stocks making the biggest moves midday: Southwest, Peloton, Tesla, Herbalife and more
▼ + stars: | 2022-12-27 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Las Vegas Sands , Wynn Resorts — The casino stocks rose following China's announcement that it will end quarantine for international travelers starting Jan. 8. Shares of Las Vegas Sands and Wynn Resorts have outsized exposure to the country given their operations in Macao. B. Riley Financial - Shares of the investment company climbed more than 4% after it released guidance for the fourth quarter. The company said it expects operating adjusted EBITDA of between $90 million and $100 million for the fourth quarter. That is down from the fourth quarter of 2021 but above some previous quarters this year.

☆ Silicon Valley is coming for your gut biome
▼ + stars: | 2022-12-23 | by ( David Ingram | David Ingram Covers Tech For Nbc News. | ) www.nbcnews.com time to read: +8 min

SAN FRANCISCO — Cryptocurrency hasn’t worked out so well for tech investors. As a consumer product, supplements are associated more with the Kardashians or Joe Rogan than with Silicon Valley. Roelof Botha, the managing partner of Sequoia Capital, one of the largest venture capital firms in the world, is among those buying in. He said there’s a “societal reawakening” about the complex biome of the human gut where hundreds of species of bacteria live. She co-wrote a review of the science this year, and said future probiotic supplements have promise compared to supplements that have been available for decades.

Wall Street's main indexes continued their losing streak for a fourth straight session on Monday as investors shied away from riskier bets, worried that the Federal Reserve's interest rate hikes could push the U.S. economy into recession. The Fed has managed to slow the economy down so it's likely that earnings estimates (for Q4) are going to come down. Treasuries fell following the BOJ's shock move, with the benchmark 10-year Treasury yield rising to a three-week high of 3.66%. Earlier, data showed U.S. single-family homebuilding tumbled in November as higher mortgage rates continued to depress housing market activity. A slew of other economic data due this week including consumer confidence and core inflation will provide more clues to investors on future interest rate hikes.

☆ Goldman Sachs says this little-known biotech stock can jump more than 50%
▼ + stars: | 2022-12-19 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Shares of Ventyx Biosciences could surge more than 50% on a competitive slate of treatments for autoimmune diseases, according to Goldman Sachs. Analyst Chris Shibutani initiated coverage of Ventyx Biosciences with a buy rating, saying the company has a promising new oral treatment in development for plaque psoriasis. The TYK2 inhibitor from Ventyx Biosciences is notable, because it's expected to have "one of the cleanest safety profiles" among its competitors. "Commercially, VTX958 is being developed for large, well-established I & I markets that generate tens of billions of dollars in annual sales," Shibutani wrote. Shares of Ventyx Biosciences have surged more than 60% in 2022.

"The jury is still out," on which technology will dominate, said Dr. Sadik Esener, director of the Cancer Early Detection Advanced Research Center at the OHSU Knight Cancer Institute in Portland, Oregon. He added it could take as long as 20 years to show that an early cancer detection test saved lives. If proven to work, early cancer detection tests could help doctors identify cancer risk in patients long before symptoms or other indicators develop. DIFFERENT APPROACHESSeveral of the leading contenders take vastly different approaches to cancer detection and it is not yet clear which methods will prove most useful or when. Some are working on blood tests to detect different markers of early cancer, including proteins.

☆ Hedge funds are adding to these 'rising star' stocks with conviction, according to Goldman
▼ + stars: | 2022-11-25 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

The hedge fund community has bought several stocks with conviction during this year's market turmoil, and those same names could outperform going forward, according to Goldman Sachs. Goldman then identified a number of Russell 1000 stocks with the largest increase in number of hedge fund owners during the third quarter — so-called "rising stars." During the last 20 years, these rising hedge fund stars have typically gone on to outperform sector peers during the quarters following their rise in popularity, Goldman said. UnitedHealth stands on top of the list, with 31 hedge funds adding the stock last quarter. Other top picks among hedge funds included Signify Health , Edwards Lifesciences and TransUnion .

☆ Merck Strikes $1.35 Billion Deal for Bone-Marrow Disease Drug Developer
▼ + stars: | 2022-11-21 | by ( Jonathan D. Rockoff | ) www.wsj.com time to read: 1 min

Merck has been seeking deals to add fast-growing products and promising drugs in development . Merck & Co. has agreed to buy blood-cancer biotech Imago BioSciences Inc. for $1.35 billion, the big drugmaker’s latest deal in search of new sources of sales. Under the terms, Merck said Monday it will pay $36 a share cash for Imago, which is developing drugs to treat bone-marrow diseases. Merck said it expected the deal to close during the first quarter next year.

☆ Stocks making the biggest moves in the premarket: Walt Disney, Carvana, Coinbase and more
▼ + stars: | 2022-11-21 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Take a look at some of the biggest movers in the premarket:Walt Disney (DIS) – Walt Disney rallied 8.8% in premarket trading after the weekend announcement that former Chairman and CEO Bob Iger is returning as chief executive, replacing Bob Chapek. Carvana (CVNA) – Carvana fell 3.9% in the premarket after The Wall Street Journal quoted analysts as saying the online used car retailer could run out of cash within a year. Coinbase (COIN) – Coinbase slid 6.8% in premarket trading, with the cryptocurrency exchange's shares falling in the wake of rival FTX's bankruptcy. Alibaba (BABA) fell 3.4% in premarket trading, JD.com (JD) dropped 5.3%, Baidu (BIDU) lost 2.7% and Pinduoduo (PDD) slid 2.8%. Williams-Sonoma (WSM) – The housewares retailer's stock fell 1.9% in premarket trading after Barclays downgraded it to "equal weight" from "overweight," pointing to the negative impact of a weakening housing market.

☆ Merck to acquire Imago BioSciences for $1.35 bln
▼ + stars: | 2022-11-21 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

Nov 21 (Reuters) - Merck & Co Inc (MRK.N) said on Monday it will acquire cancer drug developer Imago BioSciences Inc (IMGO.O) for a total equity value of $1.35 billion to expand its portfolio of blood disorder treatments. The drugmaker's offer of $36 per share in cash for Imago represents a nearly 107% premium to the company's last close. With Merck's blockbuster cancer immunotherapy Keytruda expected to lose key patents in 2028, the company has been trying to expand its drug portfolio. Imago, which develops drugs for the treatment of bone marrow-related diseases, is currently testing its lead drug bomedemstat for treating a chronic cancer known as myeloproliferative neoplasms. The Imago deal is expected to close in the first quarter of 2023, according to the companies.

☆ Stocks making the biggest moves midday: Disney, Carvana, Diamondback Energy and more
▼ + stars: | 2022-11-21 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Disney — Shares jumped 5% after the company reappointed Bob Iger as chief executive officer, effective immediately and 11 months after he left Disney. Carvana — Shares of the used car company slid 13% after Argus downgraded the stock to sell from hold. Energy stocks — Energy stocks were the biggest losers in the S&P 500 midday after oil prices fell to their lowest levels since early January following a Wall Street Journal report that Saudi Arabia and other OPEC oil producers are discussing an output increase. Still, Diamondback Energy and Halliburton fell 4% and 2.9%, respectively. Intel — Shares dipped more than 2% after Cowen downgraded Intel to market perform from outperform, according to StreetAccount.

☆ Watch CNBC's full interview with RTW Investment's Dr. Rod Wong
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with RTW Investment's Dr. Rod WongDr. Rod Wong, RTW Investments managing partner and CIO, joins the 'Halftime Report' to discuss his thoughts on the biotech sector going into the new year, his investing thesis behind Avidity Biosciences and more.

☆ If we do enter a recession next year, we'll see more of a rotation into health care, says RTW's Wong
▼ + stars: | 2022-11-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf we do enter a recession next year, we'll see more of a rotation into health care, says RTW's WongDr. Rod Wong, RTW Investments managing partner and CIO, joins the 'Halftime Report' to discuss his thoughts on the biotech sector going into the new year, his investing thesis behind Avidity Biosciences and more.

☆ A top Wall Street analyst names 6 major events that could send biotech stocks soaring between now and the end of 2022
▼ + stars: | 2022-11-14 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +5 min

Cantor Fitzgerald analysts named six big events to mark on your calendar. While the majority of the expected events are set to come from smaller biotech companies, bigger companies — like Roche, Gilead, and Alnylam — have their own events coming through the pipeline. Here are the six major events from big biotech companies that could send stocks soaring:1. Cantor Fitzgerald analysts give Gilead's stock a neutral rating and they have an overweight rating on Arcus. Lenacapavir "could become a much bigger piece of the HIV growth narrative over the next few years," according to Cantor Fitzgerald analysts.

☆ Cathie Wood's Innovation ETF surges 13%, on track for its best day ever
▼ + stars: | 2022-11-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Cathie Wood's flagship ARK Innovation ETF staged a dramatic relief rally Thursday on the back of an easing inflation reading . ARKK's biggest holding Zoom Video popped about 12%, while Tesla jumped nearly 7%. The innovation investor has been calling deflation for some time, betting the high prices were caused by temporary Covid-related supply issue. The innovation investor just doubled down on a slew of her favorite stocks this week, unfazed by the turmoil in many of these names. Wood snapped up shares of six companies Wednesday, including adding to some of her largest holdings Zoom Video and Tesla.

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