Headline grabbing biotechs are far from a rare sight in 2020. Nevertheless, when a little-known micro-cap pops by 730% in a single trading session, avid market followers are likely to take notice.And so to Equillium (EQ), the aforementioned little known biotech, whose shares blasted off on Monday.The rally began following the announcement that the Drugs Controller General of India – India’s equivalent of the FDA - granted Equillium's partner Biocon emergency approval for itolizumab, a treatment of cytokine release syndrome (CRS) in COVID-19 patients with acute respiratory distress syndrome (ARDS). The approval came following a 30-patient proof-of-concept trial in which the drug reduced mortality in hospitalized COVID-19 patients (all patients given the drug survived).The drug is currently being developed as a treatment for various autoimmune and inflammatory diseases. However, Equillium now plans to file an investigational new drug (IND) application so it can proceed with a clinical trial of itolizumab in...
Yahoo Finance's Ines Ferre shares how major cruise lines, including Carnival, Norwegian and Royal Caribbean, are performing after receiving a downgrade from SunTrust and MacQuarie....
On July 14, 2020, Wedgewood Partners released its Q2 2020 Investor Letter, a copy of which you can download here. The Fund returned 27.13% for the second quarter of 2020. Meanwhile, the benchmark Russell 1000 Growth Index and the Russell 1000 Value Index gained 27.84% and 14.29%, respectively. You should check out Wedgewood Partners' top […]...
(Bloomberg) -- China will impose unspecified sanctions on defense contractor Lockheed Martin Corp. after the U.S. approved a possible $620 million deal to supply missile parts to Taiwan, the latest in a series of punitive actions by the superpowers as relations grow colder.“China firmly opposes U.S. arms sales to Taiwan,” Chinese Foreign Ministry spokesman Zhao Lijian said at a briefing in Beijing on Tuesday. “We will impose sanctions on the main contractor of this arms sale, Lockheed Martin,” he said, without elaborating on what form the sanctions may take.The move comes as tensions grow between the U.S. and China on a number of fronts, from the trade war and territorial claims in the South China Sea to the coronavirus pandemic and new security law Beijing imposed on Hong Kong. Zhao called on the U.S. to cut military ties with Taiwan -- which China considers part of its territory -- to avoid...
