Category: Latest News
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Alumis Phase 2b lupus trial misses primary and secondary endpoints
Alumis Inc. (Nasdaq: ALMS) said its Phase 2b LUMUS trial evaluating envudeucitinib in patients with moderate-to-severe systemic lupus erythematosus (SLE) did not meet its primary or secondary endpoints in the overall study population. The trial enrolled 408 patients who received one of three doses of envudeucitinib or placebo over 48 weeks. The primary endpoint assessed…
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Comstock Resources shares rise 5% after $1.65 billion SOCAR agreement and $450 million drilling venture
Comstock Resources (NYSE:CRK) shares rose 5% on Tuesday after the company announced a letter of intent with the State Oil Company of the Azerbaijan Republic (SOCAR) covering a proposed $1.65 billion asset transaction, alongside a separate drilling venture involving approximately $450 million of expected costs with a partnership owned by the family of majority stockholder…
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Stoke Therapeutics and Biogen to present four-year zorevunersen data at epilepsy congress
Stoke Therapeutics (NASDAQ:STOK) and Biogen (NASDAQ:BIIB) said they will present clinical data for zorevunersen, their investigational treatment for Dravet syndrome, at the 16th European Epilepsy Congress in Athens, Greece, from September 5 to 9. The presentations will include the first disclosure at a medical meeting of four-year results from ongoing Phase 1/2a open-label extension studies.…
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Fervo Energy shares rise 15% following Google geothermal power agreement
Fervo Energy (NASDAQ:FRVO) shares rose 15% on Tuesday morning following a Wall Street Journal report that the geothermal company had secured its largest power agreement to date with Alphabet’s Google (NASDAQ:GOOG). The agreement covers nearly 400 megawatts of electricity from Fervo’s Cape Station project in southwestern Utah. Fervo plans to begin supplying electricity to Google…
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Medtronic shares rise 5% after earnings beat and guidance increase
Medtronic plc (NYSE:MDT) shares rose 5% after the medical device company reported first-quarter fiscal 2027 results above analyst expectations and increased its full-year revenue growth and earnings guidance. Adjusted earnings per share came in at $1.45, exceeding the consensus estimate of $1.39 by $0.06. Revenue increased 13.7% year over year to $9.8 billion, compared with…
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Keurig Dr Pepper to sell Chobani stake and facility for $925 million
Keurig Dr Pepper (NASDAQ:KDP) said on Tuesday that it will sell its investment in Chobani back to the yogurt maker for a total of $925 million as the beverage company continues to reshape its portfolio following its acquisition of JDE Peet’s. Under the transaction, Keurig Dr Pepper will sell its entire equity interest in Chobani…
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Tempus AI shares rise 2.7% following analyst actions
Tempus AI (NASDAQ:TEM) shares rose 2.7% in pre-market trading following analyst actions from Piper Sandler and Canaccord Genuity as investors assessed the company’s pending acquisition of Personalis. Piper Sandler upgraded Tempus AI to “Overweight” from “Neutral” and increased its price target to $76 from $56. The brokerage cited three factors in its assessment: Personalis’ tumor-informed…
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Newmont shares fall 2.6% as gold prices retreat
Newmont Goldcorp Corp (NYSE:NEM) shares fell 2.6% in pre-market trading to $122.83 as gold prices moved lower following Federal Reserve Chair Kevin Warsh’s comments at the Jackson Hole symposium. Warsh indicated that inflation remains above the Federal Reserve’s target and that a near-term interest-rate increase remains a possibility. The comments contributed to increased market expectations…
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U.S. stock futures fall as oil prices and Treasury yields rise: Dow Jones, S&P, Nasdaq, Wall Street
U.S. stock index futures pointed to a lower opening on Tuesday, with equities set to extend losses from the previous two sessions as investors assessed higher crude oil prices, rising Treasury yields and developments in the Middle East. U.S. crude oil futures climbed 2.5% after gaining nearly 3% in the previous session. The latest increase…
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Myriad Genetics shares fall 7.1% after Piper Sandler downgrade
Myriad Genetics (NASDAQ:MYGN) shares fell 7.1% in pre-market trading to $2.99 after Piper Sandler downgraded the stock to “Underweight” from “Overweight” and reduced its price target to $2.00 from $5.45. The brokerage questioned the company’s ability to achieve sustainable profitability through revenue growth or cost reductions alone and identified potential asset divestitures as an alternative…