Biotech stocks posted losses for the third straight week, as the sector reacted to broader market weakness and announcements out of the 2022 JPMorgan Healthcare conference. Swiss biotech Molecular Partners AG was among the best-performing stocks in the past week following the release of positive Phase 2 data for partnered COVID-19 antiviral treatment. Ahead of…
Shares in COVID-19 Vaccine Developer Valneva Extend Fall
PARIS—Shares in biotech company Valneva fell again on Wednesday, declining for the seventh day in a row due to a growing belief amongst investors that the COVID-19 Omicron variant might lessen the need for mass vaccination. At 0945 GMT, Valneva shares were down 3 percent at 17.10 euros, meaning the stock has now lost close…
The Week Ahead in Biotech (Dec. 19–25): Amgen and Aquestive Regulatory Decisions Key Events of Holiday-Shortened Week
Biotech stocks reversed course and advanced solidly in the week ending Dec. 17, as an increase in risk aversion pushed investors to buy into defensive stocks. The sector also drew strength from some positive stock-specific news. Among the regulatory decisions for the week, the Food and Drug Administration gave the green light to argenx SE’s efgartigimod for…
US Blacklist Dozens of Chinese Biotech Firms That Aid Military, Including for ‘Brain-Control Weaponry’
December 16, 2021
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The U.S. Commerce Department has slapped trade restrictions on dozens of Chinese entities over their role in weaponizing biotechnology and other U.S. innovations to bolster the Chinese military and further its human rights abuses. Among the 34 Chinese entities targeted is the Academy of Military Medical Sciences, China’s top medical research institute run by the…
US Blacklists Dozens of Chinese Biotech Firms That Aid Military, Including for ‘Brain-Control Weaponry’
December 16, 2021
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Asia & PacificbiotechbiotechnologyChinaChinese militaryChinese RegimeHuaweimilitaryNational SecurityPolicies & ImpactsUSUS NewsUS-China relationsWorld
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The United States on Dec. 16 slapped trade and investment restrictions on dozens of Chinese entities over their role in weaponizing biotechnology and other U.S. innovations to bolster the Chinese military and to further its human rights abuses. Among the 34 Chinese entities targeted was the Academy of Military Medical Sciences—China’s top medical research institute…
Chinese Couple Arrested Over Scheme to Smuggle US Cancer Vaccine Data to China
December 13, 2021
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A Chinese scientist in California had been secretly passing confidential mRNA cancer vaccine research to her husband to benefit his lab in China, a federal agent alleged in a recently filed criminal complaint. For about five years, Chen Lianchun, who resides in San Diego, had been sending documents from her employer that were marked confidential…
The Week Ahead in Biotech (Dec. 6–Dec. 11)
The Omicron variant concerns were front and center in the markets in the week ended Dec. 3, and biotech stocks did not escape the brunt of selling in the wake of the negative development. The sector recorded weekly losses, reversing course from the previous week’s advance. Regulatory decisions scheduled for the week turned in mixed…
Biotech Investor Buys $70 Million Mansion in Orange County, Setting New Record
December 1, 2021
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LAGUNA BEACH, Calif.—Setting an all-time high record for home price in Orange County, a biotech hedge fund mogul purchased a $70 million oceanfront estate, nearly doubling the price the last time the property was sold in 2018. Joseph Edelman, founder and CEO of the New York-based Perspective Advisors, and his wife, Susan Lebovitz-Edelman, purchased the…
The Week Ahead in Biotech (Nov. 28 – Dec. 4): FDA Decisions for VBI Vaccines, BeyondSpring, CTI Biopharma and Merck Take the Spotlight in a Light Calendar Week
Biotech stocks advanced in the week ending Nov. 26, as a late-week surge on the back of news about a new COVID-19 variant, named Omicron, helped mitigate the losses notched earlier in the holiday-shortened week. Shares of companies with a COVID portfolio, including a vaccine, a treatment, or both, reacted with strong moves to the…
The Week Ahead in Biotech (Nov. 28 – Dec. 4)
Biotech stocks advanced in the week ending Nov. 26, as a late-week surge on the back of news about a new COVID-19 variant, named Omicron, helped mitigate the losses notched earlier in the holiday-shortened week. Shares of companies with a COVID portfolio, including a vaccine, a treatment, or both, reacted with strong moves to the…
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