ADVFN US – Market Content Editor
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Soligenix secures EU orphan drug designation for Behçet’s disease therapy
Soligenix Inc. (NASDAQ:SNGX) said the European Commission has granted orphan drug designation to dusquetide, the active compound in its investigational therapy SGX945, for the treatment of Behçet’s Disease. The designation follows a favorable opinion from the European Medicines Agency’s Committee for Orphan Medicinal Products, which evaluated previously published Phase 2a clinical trial data for the…
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REX American Resources tops Q4 profit forecasts as tax credits boost results
REX American Resources Corporation (NYSE:REX) reported fourth-quarter earnings on Thursday that surpassed analyst expectations, largely supported by newly available tax credits, although revenue came in slightly below forecasts. The ethanol producer’s shares slipped about 0.22% in pre-market trading after the announcement, suggesting a restrained reaction from investors to the mixed results. For the fourth quarter,…
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Wave Life Sciences shares plunge 30% despite encouraging obesity trial results
Shares of Wave Life Sciences Ltd. (NASDAQ:WVE) dropped about 30% on Thursday even after the company released interim Phase 1 data from its INLIGHT study evaluating WVE-007 as a potential treatment for obesity. According to the company, six-month results showed that a single 240 mg dose of WVE-007 produced a placebo-adjusted 14% reduction in visceral…
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Sensient commits up to $250 million to boost natural color production capacity
Sensient Technologies Corporation (NYSE:SXT) said it plans to invest as much as $250 million to expand its manufacturing capacity, supply chain infrastructure and workforce dedicated to natural food colors, responding to rising demand in the United States for alternatives to synthetic coloring. The company marked the start of a major expansion project at its natural…
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UnitedHealthcare unveils Avery AI assistant to support members and service teams
UnitedHealthcare (NYSE:UNH) has launched Avery, a generative artificial intelligence assistant designed to help members manage healthcare services and assist customer support teams. The AI tool responds to questions in natural language at any time of day, offering guidance on topics such as coverage, claims, cost estimates, appointment scheduling and care options. Avery is currently accessible…
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Lumentum to launch North Carolina plant producing lasers for AI data centers
Lumentum Holdings Inc. (NASDAQ:LITE) said it plans to open a manufacturing facility in Greensboro, North Carolina, focused on producing indium phosphide-based optical components used in artificial intelligence data centers. The company has acquired a 240,000-square-foot site from semiconductor firm Qorvo. The facility is already operational and will be upgraded to manufacture continuous-wave and ultra-high-power lasers…
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MARA Holdings shares climb after $1 billion convertible debt buyback
Shares of MARA Holdings (NASDAQ:MARA) gained about 5% in Thursday morning trading after the company revealed plans to repurchase roughly $1 billion of its outstanding convertible debt, even as bitcoin prices showed weakness. The digital energy and infrastructure firm said it had reached privately negotiated agreements to buy back about $367.5 million in principal of…
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AppLovin shares drop 7% amid concerns over e-commerce demand and client churn
Shares of AppLovin (NASDAQ:APP) fell as much as 7% during the session after industry feedback pointed to softer e-commerce spending trends and signs of customer churn during the first quarter. The decline followed comments from e-commerce advertisers highlighting scaling difficulties on the platform, with returns on investment tending to weaken as marketing budgets grow beyond…
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Barrick slows development of Pakistan’s Reko Diq mine amid regional security concerns
Barrick Mining (NYSE:B) is delaying progress on its major copper and gold project in Pakistan as escalating tensions in the Middle East and a worsening security situation in the region raise concerns about project stability. The Toronto-based miner initiated a review of the Reko Diq project last month after separatist violence intensified in Pakistan’s Balochistan…
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Vivos Therapeutics secures Nevada insurer access and implements cost cuts
Vivos Therapeutics Inc. (NASDAQ:VVOS) said physician-owned practices supported by its Nevada-based management services subsidiary have obtained in-network status with several commercial insurers as well as participating provider status with Medicare. The network agreements include coverage from Medicare, TRICARE, UnitedHealthcare, UMR, Intermountain Health, Select Health, CareSource, Anthem, Aetna, Cigna, Health Plan of Nevada, Humana, Molina and…