Author: therawinformant

As the novel coronavirus became a global pandemic, health care systems have been struggling to educate individuals to prioritize their existing health concerns.

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As protests against police brutality continue across the country, health officials are warning about the spread COVID-19. Yahoo Finance’s Alexis Christoforous and Brian Sozzi discuss with Bipartisan Policy Center Chief Medical Advisor Dr. Anand Parekh.

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(Bloomberg) — Deutsche Lufthansa AG may have won its battle for state aid, but its surrender of airport slots to appease regulators heralds heightened conflict between European aviation’s old guard and low-cost challengers.A rivalry that’s been simmering for years has been given fresh impetus by the coronavirus crisis, with former flag carriers falling back on government support as discounters including Ryanair Holdings Plc and Wizz Air Holdings Plc argue that the market alone should dictate who survives.Lufthansa’s 9 billion-euro ($9.9 billion) bailout and a slots accord with the European Union overnight Friday handed the region’s biggest airline a lifeline. Now, the German group and network carriers such as Air France-KLM face a battle royale in repelling no-frills operators that came into the crisis stronger and plan to use it to gain ground in territories hitherto largely closed to them.“We are trying to take advantage of the situation,” Wizz Chief Executive Officer Jozsef Varadi said in an interview. “Lufthansa is getting a huge financial edge, but they’ll need to restructure after taking all of this money. So Germany will bring opportunities.”Aid ImbalanceDiscount airlines have received only modest support compared with legacy carriers. Ryanair, Wizz and EasyJet Plc have tapped the U.K.’s Covid Corporate Financing Facility for a combined 1.5 billion pounds ($1.8 billion), while Air France-KLM has received 7 billion euros from the French state and could overtake Lufthansa’s bailout once Dutch support is finalized.Low-cost carriers have also been quicker off the mark in slashing costs, with Ryanair, which has its biggest base at London Stansted, announcing 3,000 job cuts a month ago when Lufthansa was still in the early stages of putting together its bailout request.The strength of the challenge to Lufthansa in particular will depend on take-up for the 12 pairs of daily flight slots to be made available to competitors at its Frankfurt and Munich hubs as part of the bailout settlement ordered by the EU. Complicating matters is a proviso that says only new entrants can obtain the takeoff and landing rights during the first 18 months.Market DistortionThat would allow Ryanair, which has flights in Frankfurt, to target Munich, and EasyJet to do the reverse. Budapest-based Wizz, Europe’s third-biggest discount carrier, doesn’t currently serve either airport so could seek slots at both.Spokespeople for Ryanair and EasyJet declined to comment.Read more:Germany, Lufthansa Prove Tougher Foes for Vestager Than GoogleMerkel Is Seizing Her Chance to Revolutionize Germany’s EconomyWe All Might Be Flying in Planes Again Soon: Chris BryantRyanair gained 4.8% as of 11:18 a.m. in Dublin, while EasyJet advanced 4.4% and Wizz was up 3.8% in London. Lufthansa added 5.4% on Tradegate with regular trading in Frankfurt closed for a German holiday.The biggest opportunities for the low-cost players lie in Germany, Italy and Norway, said Mark Manduca, an analyst with Citigroup.“After the crisis passes and a price war this summer ensues, Ryanair and Wizz stand on the cusp of a three- to five-year consolidation and expansion story, as the participants around them shrink and flounder,” he said in a research note.State aid to the likes of Lufthansa will at least initially bend the market in their favor, EU competition watchdog Margrethe Vestager said in an interview with Bloomberg TV. “This is why we also have remedies, to try to limit that market distortion,” she said.The Lufthansa case is a template for EU oversight of other virus-related recapitalizations, Vestager said. The bloc would likely review any equity injection into Air France-KLM by France or the Netherlands, and is in close contact with the Italian government over the nationalization of bankrupt Alitalia Spa, which she called “a special case” because of its pre-existing financial distress.That budget airlines will make inroads isn’t a given.In Germany, the major hubs of Frankfurt and Munich charge typically higher fees than at the smaller airports traditional favored by discount operators, something Varadi said is a major obstacle to flying there.Both have a large proportion of passengers who transfer on or off long-distance flights, limiting the market share available to short-haul carriers.Stationing staff in Germany also means grappling with stringent employment laws and powerful unions, potential headaches for companies seeking to keep expenses low.Lufthansa’s pilot, cabin-crew and ground-crew unions wrote to European Commission President Ursula von Der Leyen on Friday saying that a shift of slots to discount carriers would cause a “massive hollowing out” of labor standards and pay.Disruption AheadThe French market could open up as Air France-KLM reins in its network in response to environmental demands from the French government. A restructuring to be presented within months will call for a 40% cut in domestic French capacity by the end of 2021, Chief Executive Officer Ben Smith told shareholders last week.The company has also said it may raise new equity, potentially triggering EU scrutiny that could lead to slots being made available in the busy Paris and Amsterdam markets. The initial funding package avoided increasing state holdings amid acrimony between the French and Dutch governments over existing stakes.In Italy, Alitalia was in bankruptcy protection even before the virus hit. The rescue is regarded as dubious given the airline’s status, and the EU is expected to begin an investigation. Slot availability in Rome and Milan could be one outcome.Full-service airlines are also in retreat in the U.K., where British Airways and Virgin Atlantic Airways Ltd. have indicated they’ll exit London Gatwick airport to consolidate operations at the city’s Heathrow hub.That will consolidate Gatwick’s status as a discount and leisure-oriented base, leaving EasyJet unchallenged as the biggest operator and offering an opportunity for Ryanair and Wizz to expand their more modest presence.Discount airlines are also cutting their cloth, though not nearly so much.Wizz will maintain all of its European bases and routes, while trimming frequencies, Varadi said. It announced four new hubs and 50 new routes on Friday.“We’re sensing strong demand, which we aim to tap as travel restrictions ease,” the CEO said.(Updates with Vestager comments in 12th paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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Shares in Immutep (IMMP) are surging 10% in Monday’s pre-market trading after the company announced first interim data from its ongoing INSIGHT-004 Phase I clinical trial at the 2020 American Society of Clinical Oncology’s (ASCO) Annual Meeting.The Frankfurt-based study is a phase I trial evaluating the combination of Immutep’s lead product candidate, eftilagimod alpha (“IMP321” or “efti”) with avelumab, a human anti-PD-L1 antibody, in 12 patients with solid cancers. Avelumab is co-developed and co-commercialized by Merck KGaA (MRK), Darmstadt, Germany and Pfizer Inc (PFE).Patients in cohort 1 receive 6mg doses of efti every two weeks with the standard dose of avelumab (800mg every two weeks), while patients in cohort 2 receive a higher dose of efti, 30mg, with avelumab.According to the presentation, 33% of patients (4 out of 12) showed a partial response (PR) to the combination therapy. In cohort 2, 3 patients out of 6 have not yet had their response assessed but are still under therapy without clinical signs of tumour progression, the company said, while noting a number of encouraging single PR cases.INSIGHT-004 reached full recruitment in April 2020 and has recruited patients in different solid tumors, primarily with gastrointestinal indications. It is the first combination trial of an approved and marketed anti-PD-L1 drug and efti.Trial investigator, Prof Salah-Eddin Al-Batran, commented: “It is good to see a number of patients are responding to the combination therapy of efti and avelumab, particularly as three patients in cohort 2 are still very early on in their treatment and haven’t yet been assessed… These patients typically are heavily pretreated and do not have any good therapy options.”Interim results from the first cohort in the trial show that the combination treatment is well tolerated with no dose limiting toxicities, while safety data from the second cohort will be reported at a later date.Two analysts have recently published buy recommendations on IMMP, giving the stock a Moderate Buy analyst consensus. Meanwhile the average analyst price target of $3.50 indicates a further 184% lies ahead. (See IMMP stock analysis on TipRanks). Shares are currently trading down 31% year-to-date, after the company announced disappointing top-line data from the P2b AIPAC study in metastatic breast cancer (mBC).“Is all lost for Immutep? Not at all, in our view… The mBC data is a disappointment, but efti and the other LAG3s in the pipeline still have a path forward. Overall, in our view, the damage has been done to IMMP shares” wrote Maxim Group’s Jason McCarthy at the time.Related News: Adaptimmune Spikes 127% Post-ASCO; Analyst Triples Price Target Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Zynga Snaps Up Peak For $1.8B In Its Largest Deal To Date; Shares Up 7% * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil

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We at Insider Monkey have gone over 821 13F filings that hedge funds and prominent investors are required to file by the SEC The 13F filings show the funds' and investors' portfolio positions as of March 31st, near the height of the coronavirus market crash. In this article, we look at what those funds think […]

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Gold has been strong recently on the heels of Coronavirus fears, Federal Reserve stimulus packages, and continued geopolitical tensions, which are now being exacerbated by the George Floyd riots in the United States.

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AbbVie (ABBV) announced on Monday that it has entered into a partnership with Jacobio Pharmaceuticals, to jointly develop and commercialize SHP2 inhibitors, which target a key node in cancer and immune cells.Financial terms of the partnership were not disclosed. Under the terms of the agreement, AbbVie will be granted an exclusive license to the SHP2 portfolio. Meanwhile, Jacobio will continue to conduct early global clinical trials of JAB-3068 and JAB-3312 inhibitors, while AbbVie will cover the R&D expenses.SHP2 is a protein mediator of cellular signaling. Many tumors have genetic mutations, driving abnormal cancer cell growth which relies on SHP2 activity. SHP2 also plays a key role to control cytokine production and immune cell response.Therefore, inhibition of SHP2 is believed to have dual effects by potentially reducing cancer cell growth and modulating immune responses to generate anti-tumor activities. Jacobio's early clinical stage SHP2 assets, JAB-3068 and JAB-3312, are oral small molecules designed to specifically inhibit SHP2 activity."Identifying promising new targeted approaches for solid tumor patients is a high priority for us," said Mohit Trikha, vice president at AbbVie. "Jacobio's SHP2 program has the potential to treat cancer patients across many tumor types.  By targeting a key node in both cancer and immune cell signaling pathways, SHP2 inhibition, both as a monotherapy and potentially in combination with other agents, may rapidly advance new treatment options for cancer patients."Upon completion of the trials, AbbVie will be in charge of global development and commercialization. Jacobio has an option, exercisable before the initiation of registrational trials, to exclusively develop and commercialize the SHP2 program in mainland China, Hong Kong, and Macau.The partnership is still subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act.Since March 23, AbbVie shares have jumped 44% on the back of its recent acquisition of Botox maker Allergan and solid revenues of Humira, the company’s successful immunosuppressive anti-inflammatory drug. However with an expired patent, competition is growing.Five-star analyst Geoff Meacham at BofA Merrill Lynch last month reinstated coverage of AbbVie with a Hold rating and a $95 price target citing the “uncertainty of top-line resiliency given Humira's impending 2022 loss of exclusivity”.The analyst, who expects a 1% sales decline through 2021-2025, argues that AbbVie stock fairly reflects the headwinds from Humira offset by the Allergan new product portfolio.Overall, Wall Street analysts are more upbeat about AbbVie’s stock outlook. In a review of 9 analysts, the stock scores 7 Buys and the rest are Holds adding up to a Strong Buy consensus. The $102.29 average price target indicates another 10% upside potential in the coming 12 months. (See Abbvie’s stock analysis on TipRanks).Related News: Immutep Surges In Pre-Market On Positive Efti Cancer Data Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Eli Lilly Starts Dosing Patients In World’s First Covid-19 Antibody Trial * Immutep Surges In Pre-Market On Positive Efti Cancer Data * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon

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Eli Lilly (LLY) has today announced patients have been dosed in the world’s first study of a potential antibody treatment designed to fight COVID-19.This investigational medicine, referred to as LY-CoV555, is the first to emerge from the collaboration between Lilly and AbCellera to create antibody therapies for the prevention and treatment of COVID-19.Lilly scientists developed the antibody in just three months after AbCellera and the National Institute of Allergy and Infectious Diseases (NIAID) identified it from a blood sample taken from one of the first U.S. patients who recovered from COVID-19. LY-CoV555 is the first potential new medicine specifically designed to attack SARS-CoV-2, the virus that causes COVID-19.The first patients in the study were dosed at major medical centers in the U.S., including NYU Grossman School of Medicine and Cedars-Sinai in Los Angeles. Study J2W-MC-PYAA is a randomized, placebo-controlled, double-blind Phase 1 trial that aims to investigate the safety, tolerability, pharmacokinetics (PK), and pharmacodynamics (PD) of LY-CoV555 following a single dose administered to participants hospitalized for COVID-19.“Antibody therapies such as LY-CoV555 may have potential for both prevention and treatment of COVID-19 and may be particularly important for groups hardest hit by the disease such as the elderly and those with compromised immune systems,” said Daniel Skovronsky, chief scientific officer of Lilly Research Laboratories.“Later this month, we will review the results of this first human study and intend to initiate broader efficacy trials. At the same time… we also are starting large-scale manufacturing of this potential therapy. If LY-CoV555 becomes part of the near-term solution for COVID-19, we want to… [have] several hundred thousand doses available by the end of the year,” continued Skovronsky.Should Phase 1 results show the antibody can be safely administered, Lilly expects to move into the next phase of testing, studying LY-CoV555 in non-hospitalized COVID-19 patients. The company also plans to study the drug in a preventative setting, focusing on vulnerable patient populations.Lilly is researching multiple approaches to treating COVID-19, including examining existing LLY medicines and collaborating with two biotech companies to discover novel antibody treatments for COVID-19.Shares in Eli Lilly are up 16% year-to-date and 2.5% in Monday’s pre-market trading. Wall Street analysts are divided evenly between 4 Buy ratings and 4 Hold ratings, which add up to a Moderate Buy consensus. The $163.25 average price target implies 7% upside potential in the coming 12 months. (See Eli Lilly’s stock analysis on TipRanks).Related News: BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * Drugmaker Abbvie Teams Up With Jacobio To Develop Cancer Inhibitor * Immutep Surges In Pre-Market On Positive Efti Cancer Data * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon

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Authorities in cities across the U.S. used tear gas, curfews and arrests in an attempt to contain violent protests sparked by the death of George Floyd. WSJ reporters in Minneapolis, Chicago and Los Angeles describe the worst civil unrest to erupt across the country in decades. Photo: Alex Wong/Getty Images

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Shares in UK-based biopharma Adaptimmune (ADAP) spiked 127% in Friday’s trading, after the company reported positive durability and efficacy data in synovial sarcoma at the American Society for Clinical Oncology (ASCO) Annual Meeting.The data demonstrated durability and responses in synovial sarcoma, supporting SPEARHEAD-1 as a potential registrational trial, ADAP announced. Dr David Hong spoke of a 50% response rate with inclusion of unconfirmed PR assessed after data cut-off. The ASCO presentation also described a new response in a patient with lung cancer, and a response in a patient with head and neck cancer.At the same time, Adaptimmune also announced new responses in the SURPASS trial, confirming the potential for SPEAR T‑cell therapies targeting MAGE-A4 to treat a broad range of cancers in addition to sarcoma. In the SURPASS trial, three patients have responded out of the first four treated with ADP-A2M4CD8, ADAP said.These data further support the rationale for two new Phase 2 trials – SPEARHEAD-2 in head and neck cancer, which will begin later this year, and a second trial in esophagogastric junction (EGJ) cancer planned for 1H 2021.“We are raising our PT on shares of ADAP to $9 from $3 driven off data presented at ASCO which demonstrated broader platform value for the company’s T-cell receptor (TCR)-T-cell platform technology as well as increased probability of success (POS) for the indication of synovial sarcoma (SS)” cheered Mizuho Securities analyst Mara Goldstein following the presentation. She now assigns a probability of success for this indication of 90%, up from 70%.According to Goldstein, responses accumulating in other tumor types, while not conclusive, point to broader potential in solid tumors. However she “does not yet see a critical mass in responses to more comfortably assign greater value to new indications.” As a result, the analyst reiterates her hold rating on the stock but tripled her price target to $9. Given ADAP’s recent rally this now translates into downside potential of 19%.Meanwhile JonesTrading analyst Soumit Roy upgraded ADAP to buy from hold previously. He has a more bullish $15 price target on the stock, indicating further upside potential of 35%. Overall, ADAP continues to hold a Moderate Buy analyst consensus, with the Street evenly split between hold and buy. The average analyst price target currently stands at $10 (13% downside potential). (See ADAP stock analysis on TipRanks).Related News: BioMarin Provides Positive Gene Therapy Update For Severe Hemophilia A Pfizer Loses 6% On Disappointing Ibrance Breast Cancer Outcome Novavax Seeks To Make 1 Billion Covid-19 Vaccine Doses More recent articles from Smarter Analyst: * KKR Joins $3.3 Billion Bid To Acquire Spanish Telecom Carrier Masmovil * Amazon’s Jeff Bezos Invests In UK Freight Startup Beacon * Google Delays Rollout Of Android Beta Version Amid U.S. Protests * Facebook Holds ‘Productive’ Call With Trump, As Social Media War Rages On

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