Category: Stock Market

Aircraft makers are circling Brazil’s Embraer weeks after Boeing ditched plans for a historic commercial aviation tie-up, people familiar with the matter said. Boeing axed plans to buy 80% of Embraer’s commercial unit in April, ending a planned move into regional jets that mirrored rival Airbus’ purchase in 2018 of a competing model developed by Canada’s Bombardier. China’s state-owned COMAC planemaker has voiced informal interest in co-operation with the world’s third-largest jetmaker, two of the people said.

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President Donald Trump is expected to make an announcement regarding relations between the U.S. and China on Friday. Arthur Dong, Georgetown University Professor, joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss that more.

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MedMen Enterprises Inc. (CSE:MMEN) just released its latest quarterly report and things are not looking great…

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Yahoo Finance’s Brian Cheung joins Zack Guzman to discuss the latest changes lawmakers are enacting to the Paycheck Protection Program.

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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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The latest 13F reporting period has come and gone, and Insider Monkey is again at the forefront when it comes to making use of this gold mine of data. Insider Monkey finished processing 821 13F filings submitted by hedge funds and prominent investors. These filings show these funds' portfolio positions as of March 31st, 2020. […]

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(Bloomberg) — Biotechnology stocks saw broad swings Friday morning as investors worked their way through a deluge of data from cancer drug developers presenting at the American Society of Clinical Oncology’s virtual annual meeting.Wall Street was quick to crown small-caps Adaptimmune Therapeutics Plc and Trillium Therapeutics Inc. as well as heavyweight AstraZeneca Plc among the early winners with shares rallying on the back of their respective updates. On the flip side, uninspiring results from Arvinas Inc.’s prostate cancer study and Aveo Pharmaceuticals Inc.’s kidney cancer trial drove investors to punish shares.Here’s a breakdown of some of ASCO’s biggest winners and losers:Adaptimmune TherapeuticsThe small developer of cell therapies more than doubled in Friday’s session after announcing updated early-stage results from a handful of trials in a range of cancer types. The company said its treatments drove responses in esophagogastric junction, lung, and head and neck cancer patients. Adaptimmune plans to start a mid-stage study of its therapy in esophagogastric junction cancer patients in the first half of next year.Trillium TherapeuticsThe hedge fund darling jumped as much as 21% after updated results for its early-stage study of TTI-622 showed a second patient responded to treatment with their cancer shrinking, providing further evidence that the drug could help patients with lymphoma that has progressed after trying previous therapies.Ladenburg Thalmann analyst Wangzhi Li wrote that the update showcased “excellent safety and surprising monotherapy activity” in the second patient. The 81-year-old patient’s response was classified as a partial response, but looked like it was almost a complete recovery with nearly 100% of the tumor reduced after eight weeks of follow-up.AstraZenecaShares of the pharmaceutical giant rallied as much as 3.4% in London after updates from a trio of key cancer drugs. The U.K. drugmaker said its blockbuster drug Tagrisso cut the risk of lung cancer death while studies of Imfinzi and Enhertu showed meaningful benefits for patients with small-cell lung cancer and gastric cancer.Autolus TherapeuticsAutolus was among the Nasdaq Biotechnology Index’s top performers Friday after announcing new data on its CAR-T cell therapy in patients with diffuse large B cell lymphoma. The updated results showed the medicine was well tolerated with no patients experiencing dose-limiting toxicity, and there were no treatment-related deaths.Aveo PharmaceuticalsAveo tumbled as much as 23%, the worst drop since early November, after late-stage results for its kidney cancer study showed its medicine didn’t extend lives longer than Bayer’s Nexavar. Aveo erased some of its loss after Baird raised its price target to a Street-high $24 from $15, saying the analysis removed an overhang on shares.ArvinasThe New Haven, Connecticut-based biopharma company sank 18% to make it the Nasdaq Biotech Index’s worst performer after updated results from its early-stage trial of ARV-110 in prostate cancer failed to excite investors. Just two of the 20 patients in the trial saw their PSA levels decline by 50% or more, missing many analyst expectations.MacroGenicsMacroGenics fell as much as 16% after releasing additional data for a trio of cancer drugs. Wall Street has been closely watching early data on MGD013 and MGC018 after bullish commentary from its management team earlier this month caused shares to triple.Allogene TherapeuticsShares of Allogene were little changed, erasing an initial drop, after updated results for its off-the-shelf CAR-T therapy showed a decline in patient benefit compared to an initial peek earlier this month. Twelve of 19 patients with blood cancer have responded to Allogene’s ALLO-501 in the “Alpha” study, including seven that had a complete response, the company said.Analysts had already started to debate whether the early-stage drug data that spurred Allogene to recored highs and a more than $6 billion valuation was warranted.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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Mindbody Founder & CEO Rick Stollmeyer joins Yahoo Finance’s On The Move panel to weigh in on consumer behavior and booking trends as more states look to reopen wellness services.

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The option, which is already available in a handful of cities in Australia, Africa, Europe and the Middle East, will cost $50 per hour. Fares for regular Uber rides are generally based on the level of demand and the trip distance. Uber said it decided to expand the hourly feature to the U.S. after riders requested an option for extended trips during the pandemic to avoid exposure to different drivers and vehicles when taking multiple trips in a confined time period.

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Nantkwest Inc (NASDAQ: NK) shares spiked after the company announced progress on the COVID-19 vaccine program and therapeutics options.Vaccine Program Part Of 'Operation Warp Speed'El Segundo, California-based NantKwest said its affiliate ImmunityBio has been selected to participate in Operation Warp Speed, a national program aimed at providing substantial quantities of safe, effective vaccine for Americans by January 2021.NanKwest said it will focus on developing, testing and largescale manufacturing of ImmunityBio's COVID-19 human adenovirus vaccine candidate, codenamed hAd5. The company said it's the first vaccine designed to deliver both Spike and Nucleocapsid DNA, offering scope for long-lasting immunity."ImmunityBio is honored to have been selected as one of the 14 companies for Operation Warp Speed and is committed to moving our vaccine candidate through the process to prevent people from contracting this deadly virus," said Patrick Soon-Shiong, CEO of ImmunityBio and NantKwest.Benzinga is covering every angle of how the coronavirus affects the financial world. For daily updates, sign up for our coronavirus newsletter.COVID Therapeutics NantKwest will evaluate ImmunityBio's N-803, an interleukin 15 as well its own haNK, off-the-shelf natural killer cells, to treat mild-to-moderate COVID-19 symptoms. Phase 1 trials for N-803 is set to begin in Los Angeles in June."Based on initial data, we believe our IL-15 superagonist N-803 could prevent patients from reaching the most advanced stages of disease, including pneumonia and acute respiratory distress syndrome," Soon-Shiong said.Meanwhile, the company has filed a pre-IND application to the FDA for haNK.For severe and critically ill COVID-19 patients on ventilator support, NantKwest's bone marrow-derived mesenchymal stem cells are being evaluated. The company initiated a Phase 1b study on May 18 to evaluate the safety and efficacy of BM-Allo.MSC versus current supporting care.The companies also said the FDA has authorized the use of ImmunityBio's IL-15 to treat patients prior to the onset of severe disease by potentially activating natural killer cells to mitigate viral replication.Alliance Firmed Up NantKwest and ImmunityBio have agreed to jointly develop haNK, mesenchymal stem cells, adenovirus constructs, and N-803 for the prevention and treatment of SAR-CoV-2 viral infections and associated conditions, including COVID-19.The agreement calls for both parties sharing equally in all costs relating to developing, manufacturing and marketing of the product candidates globally, with net profits from the collaboration products to be shared 60%/40% in favor of the party contributing the product.At last check, NantKwest shares were surging by 20% to $6.53.See more from Benzinga * The Daily Biotech Pulse: Co-Diagnostics Earnings, NantKwest Plans Pancreatic Cancer Study, ADC Therapeutics IPO * NantKwest In 'Active Discussions' With FDA On COVID-19 Vaccine, Therapeutic Development(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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