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Friday, February 7, 2020

China delays trade data; S&P cuts growth forecast

Due to the ongoing coronavirus outbreak, China has delayed trade figures for January and said it would combine the data with next month’s release.
The epidemic has also led to growth forecasts being cut, with S&P Global Ratings revising its estimation of China’s GDP growth for 2020 from 5.7% before the outbreak to 5%.
“Coronavirus will have a larger negative effect on the global economy than the SARS outbreak,” added IHS Markit, explaining that China accounted for 4.2% of the global economy in 2003 vs. 16.3% of the world’s GDP today.
https://seekingalpha.com/news/3539589-china-delays-trade-data-s-and-p-cuts-growth-forecast

Thursday, February 6, 2020

China opens second new hospital for coronavirus patients


Leishenshan Hospital
China completed the construction Thursday of the second of two hospitals built in record time in Wuhan to isolate and treat patients of the coronavirus, which has killed more than 560 people since emerging in a local market.
The 1,600-bed Leishenshan (meaning Thunder God Mountain) Hospital was ready to accept patients three days after the opening of the 1,000-bed Huoshenshan (Fire God Mountain) Hospital, which was built in just eight days with prefabricated wards.
Meanwhile, the first group of patients was expected to begin testing Remdesivir, a new antiviral drug, on Thursday after clinical trials were approved.
Word of the trials had boosted the stock price of the drug’s maker, American biotechnology company Gilead Sciences Inc.
Antivirals and other drugs can reduce the severity of the virus, but “so far, no antivirals have been proven effective,” said Dr. Thanarak Plipat, deputy director-general of Thailand’s Disease Control Department of the Health Ministry.
He said there were a lot of unknowns, “but we have a lot of hope, as well.”
Meanwhile, China moved people with milder symptoms into makeshift medical facilities at sports centers, exhibition halls and other public venues.
Wuhan also had another 132 quarantine sites with more than 12,500 beds, according to the official Xinhua News Agency.
Chinese health officials reported 563 deaths and another sharp spike in the number of confirmed cases to 28,018.
Outside mainland China, at least 260 cases have been confirmed, including two deaths in Hong Kong and the Philippines.
The Chinese National Health Commission said the number of infected patients who were “discharged and cured” stood at 1,153 as of Thursday.


Details weren’t provided, but milder cases have been seen in younger, healthier people.
The youngest patient is a baby who was born Saturday in Wuhan and confirmed positive just 36 hours after birth.
“The baby was immediately separated from the mother after the birth and has been under artificial feeding. There was no close contact with the parents, yet it was diagnosed with the disease,” Dr. Zeng Lingkong, chief of neonatal diseases at Wuhan Children’s Hospital, told China’s state broadcaster CCTV.
Zeng said other infected mothers have given birth to babies who tested negative, so it was not yet known if the virus can be transmitted in the womb.
That “still needs further study,” he said.
https://nypost.com/2020/02/06/china-opens-second-new-hospital-for-coronavirus-patients/

VA Tests Keto Diet in Diabetic Patients; Skeptics Raise Red Flags

A partnership between the Department of Veterans Affairs and Silicon Valley startup Virta Health Corp. is focusing attention on the company’s claim that it provides treatment “clinically-proven to safely and sustainably reverse type 2 diabetes” without medication or surgery.
The assertion is at the heart of an ongoing debate about the keto diet’s effect on diabetes. Some diabetes experts are skeptical of Virta’s promise and are expressing concerns that the company’s partnership with the federal government is giving the diet too much credence.
The agreement has helped raise the national profile of Virta, a fledgling health company that has developed a proprietary system of remote coaching and monitoring for people with Type 2 diabetes to help them follow the keto diet, which is high in fat and low in carbohydrates.
Despite its strict requirements, the keto diet has gained popularity in recent years with consumers and studies noting it helps shed pounds and can lead to improved health. But the company’s claim about reversing diabetes is unusual. Type 2 diabetes is often linked to excess weight, and the company said its studies suggest that significant weight loss through keto can lower patients’ blood sugar and need for diabetic medications.
The diet has won support among some diabetes researchers and patient groups. But other public health advocates are concerned that the science of treating diabetes with a keto diet is not well studied. They worry about keto’s effect on the heart and the paucity of vegetables and fruits generally in the diet.
In a press release announcing the collaboration, VA Secretary Robert Wilkie said Virta’s regimen would help the department create “a more comprehensive approach to care.”
Under the accord, Virta is providing its services free to about 400 VA patients for a year while federal officials evaluate the service and their health.
In November, Virta announced in a news release that the initial 90-day results were promising. It said veterans reported weight loss, reduced blood sugar and lower reliance on diabetes medication.
But Virta declined to provide KHN with underlying data, citing the need to protect patient information. It did arrange an interview with its then-chief counsel and vice president of finance, Anand Parikh. He said he expected the partnership with the VA to soon expand. Parikh, who left the company in December, said that future government collaboration will likely involve payment to Virta but that it was too early to estimate a price. The treatment currently costs other patients $370 per month, plus a one-time $500 initiation fee.
A VA spokesperson did not respond to detailed written questions concerning the partnership.
The VA runs the country’s largest integrated health care system and is considered a leader in diabetes careRoughly 25% of its patients have the disease, which is twice the national average. Inside the VA, diabetes is the leading cause of blindness, renal disease and amputations.
Neither Gottheimer nor his staff returned repeated requests for comment about what prompted his letter.

Virta’s Studies Find Benefits Of Keto

Virta officials first floated the idea of a partnership during President Barack Obama’s administration. A deal was finalized last year after former Rep. Jeff Miller (R-Fla.), who is now a Washington lobbyist, signed up to work for the company. Miller retired from his seat in January 2017 after serving as the powerful chairman of the House Veterans’ Affairs Committee for six years.
The day after registering as a lobbyist for Virta, Miller sent a note to Darin Selnick, then a senior VA political appointee, with proposed language for an agreement between Virta and the VA, according to emails obtained through the Freedom of Information Act. Selnick reviewed it, then passed it along to an official in the VA’s research department.
Parikh said the VA thoroughly evaluated Virta’s research before the deal was done. The partnership was announced in May.
Virta was founded in 2014 by venture capitalist Sami Inkinen after doctors told him he had signs of a prediabetes condition. Joining him were Dr. Stephen Phinney and Jeff Volek, who researches low-carb diets. The two had written a book about the Atkins diet, which also emphasizes severely limiting carbohydrates and instead turning to some high-fat foods.
A spokesperson for the American Diabetes Association declined to comment on Virta’s treatment regimen but pointed to an article in its magazine that noted some benefits of a keto diet, such as lowering blood sugar and weight, while listing its potential drawbacks, including missing nutrients, risk of dehydration and high cost.
Still, many health experts said there is little evidence the diet can produce long-term results that ameliorate diabetes.
Moreover, some studies suggest that low-fat or plant-based nutrition, like the Mediterranean diet, produces similar results and has fewer health risks. The VA’s clinical guidelines for diabetes care, while acknowledging potential benefits of low-carb diets like keto, make clear that “the evidence in support of the Mediterranean diet was more uniform and robust than that for the lower carbohydrate dietary approaches.”
Proponents of the keto diet note that a vegetarian option is also available.
Virta’s website lists six research papers as proof that the company’s assistance for diabetes results in significant improvements in various clinical markers of diabetes, including obesity and blood sugar levels.
The papers were peer-reviewed, yet they are all based on a single, non-randomized clinical trial of 262 patients, which was funded by Virta. Among the authors of these papers are Volek and Phinney.
In April, two Virta consultants co-authored a journal article reviewing various studies and said they showed low-carb diets were “effective in reversing diabetes in the short term.”

Concerns About Missing Nutrients In The Diet

Dr. Randall Stafford, who directs Stanford University’s Program on Prevention Outcomes and Practices, reviewed Virta’s research and called the results “encouraging.” Yet he said the comparison group — called the “control” in scientific circles — was “fairly useless, given that it was composed of people who did not want to change their diets.”
Stafford said results don’t suggest that Virta’s treatment alters diabetes.
“My interpretation is that the keto diet is a temporizing measure, not a cure,” he said.
In April, the Physicians Committee for Responsible Medicine, a nonprofit research and advocacy organization that advocates for plant-based diets, urged Wilkie in a letter to cancel the Virta partnership.
“The company’s approach is to place patients with diabetes on a low-carb ketogenic diet,” the letter reads. “At best, this type of diet may act as a ‘Band-Aid’ for diabetes, yet it carries serious health risks,” including higher cholesterol levels and nutrient deficiencies.
large study by the European Society of Cardiology published in 2018 found those who ate a low-carbohydrate diet were at greater risk of coronary heart disease, stroke and cancer.
In an opinion article in the Journal of the American Medical Association, Dr. Shivam Joshi, a lifestyle medicine physician associated with NYU Langone Health, suggested that Virta’s April review of studies should “be interpreted with caution” as the group of participants was self-selecting and said the review “presents an overly enthusiastic narrative” that passed over studies critical of the ketogenic lifestyle.
“Any diet can be effective when bundled with intense lifestyle interventions,” Joshi said in an interview. “The real question needs to be over the long-term benefits of the diet itself.”
Neither Gottheimer nor his staff returned repeated requests for comment about what prompted his letter.

Virta’s Studies Find Benefits Of Keto

Virta officials first floated the idea of a partnership during President Barack Obama’s administration. A deal was finalized last year after former Rep. Jeff Miller (R-Fla.), who is now a Washington lobbyist, signed up to work for the company. Miller retired from his seat in January 2017 after serving as the powerful chairman of the House Veterans’ Affairs Committee for six years.
The day after registering as a lobbyist for Virta, Miller sent a note to Darin Selnick, then a senior VA political appointee, with proposed language for an agreement between Virta and the VA, according to emails obtained through the Freedom of Information Act. Selnick reviewed it, then passed it along to an official in the VA’s research department.
Parikh said the VA thoroughly evaluated Virta’s research before the deal was done. The partnership was announced in May.
Virta was founded in 2014 by venture capitalist Sami Inkinen after doctors told him he had signs of a prediabetes condition. Joining him were Dr. Stephen Phinney and Jeff Volek, who researches low-carb diets. The two had written a book about the Atkins diet, which also emphasizes severely limiting carbohydrates and instead turning to some high-fat foods.
A spokesperson for the American Diabetes Association declined to comment on Virta’s treatment regimen but pointed to an article in its magazine that noted some benefits of a keto diet, such as lowering blood sugar and weight, while listing its potential drawbacks, including missing nutrients, risk of dehydration and high cost.
Still, many health experts said there is little evidence the diet can produce long-term results that ameliorate diabetes.
Moreover, some studies suggest that low-fat or plant-based nutrition, like the Mediterranean diet, produces similar results and has fewer health risks. The VA’s clinical guidelines for diabetes care, while acknowledging potential benefits of low-carb diets like keto, make clear that “the evidence in support of the Mediterranean diet was more uniform and robust than that for the lower carbohydrate dietary approaches.”
Proponents of the keto diet note that a vegetarian option is also available.
Virta’s website lists six research papers as proof that the company’s assistance for diabetes results in significant improvements in various clinical markers of diabetes, including obesity and blood sugar levels.
The papers were peer-reviewed, yet they are all based on a single, non-randomized clinical trial of 262 patients, which was funded by Virta. Among the authors of these papers are Volek and Phinney.
In April, two Virta consultants co-authored a journal article reviewing various studies and said they showed low-carb diets were “effective in reversing diabetes in the short term.”

Concerns About Missing Nutrients In The Diet

Dr. Randall Stafford, who directs Stanford University’s Program on Prevention Outcomes and Practices, reviewed Virta’s research and called the results “encouraging.” Yet he said the comparison group — called the “control” in scientific circles — was “fairly useless, given that it was composed of people who did not want to change their diets.”
Stafford said results don’t suggest that Virta’s treatment alters diabetes.
“My interpretation is that the keto diet is a temporizing measure, not a cure,” he said.
In April, the Physicians Committee for Responsible Medicine, a nonprofit research and advocacy organization that advocates for plant-based diets, urged Wilkie in a letter to cancel the Virta partnership.
“The company’s approach is to place patients with diabetes on a low-carb ketogenic diet,” the letter reads. “At best, this type of diet may act as a ‘Band-Aid’ for diabetes, yet it carries serious health risks,” including higher cholesterol levels and nutrient deficiencies.
large study by the European Society of Cardiology published in 2018 found those who ate a low-carbohydrate diet were at greater risk of coronary heart disease, stroke and cancer.
In an opinion article in the Journal of the American Medical Association, Dr. Shivam Joshi, a lifestyle medicine physician associated with NYU Langone Health, suggested that Virta’s April review of studies should “be interpreted with caution” as the group of participants was self-selecting and said the review “presents an overly enthusiastic narrative” that passed over studies critical of the ketogenic lifestyle.
“Any diet can be effective when bundled with intense lifestyle interventions,” Joshi said in an interview. “The real question needs to be over the long-term benefits of the diet itself.”
https://www.medscape.com/viewarticle/924871#vp_1

Alnylam gets Euro panel backing for second gene-silencing drug Givlaari

Alnylam could be weeks away from getting its second RNA interference drug approved in Europe, after a CHMP green light for its rare disease drug Givlaari.
EMA’s human medicines committee the CHMP gave Givlaari (givosiran) a positive opinion for the treatment of acute hepatic porphyria (AHP) in adults and adolescents aged 12 years and older, a couple of months after the drug was approved by the US FDA.
The positive opinion is another step forward for Alnylam in what is shaping up to be a pivotal year for the gene-silencing specialist as it tries to grow Givlaari and first approved product Onpattro (patisiran) for hATTR amyloidosis, and gears up for a possible approval of a third product – lumasiran – for primary hyperoxaluria.
In a statement, the CHMP said that Givlaari is the first treatment in Europe for AHP, a rare life-threatening genetic condition that causes attacks of severe abdominal pain, vomiting and nervous system disorders, such as seizures, depression and anxiety.
It’s caused by a lack of certain enzymes needed to produce haem, part of the oxygen-carrying haemoglobin molecule, which results in the accumulation of compounds called porphyrins in the body.
Givlaari has been reviewed under the EMA’s PRIME scheme, which allows more rapid approval for drugs that represent a significant advance over current therapies or are the first for a disease. A final verdict typically comes from the EU regulator within a couple of months.
At the moment, intravenous hemin – a human blood-derived haem formulation – can be used to treat acute AHP attacks, but isn’t approved to prevent attacks.
In the US, Givlaari has been launched with a hefty price tag – around $575,000 per patient per year – although Alnylam has tried to soften the blow with a money back guarantee if it isn’t effective and rebates for payer formularies who have more AHP than expected in their health plans.
Alnylam’s chief executive John Maraganore has said he thinks the company can build the drug to $500 million annual sales at peak.
Alnylam updated on the initial roll-out of its two commercial products at the JP Morgan healthcare conference last month, saying it expects Onpattro to achieve slightly better-than-expected sales of $56 million in the fourth quarter – taking the 2019 total to around $166 million – while Givlaari brought in around $200,000 in “initial channel stocking”.
The company has been working in the US to improve access to third-party genetic testing for the mutation associated with AHP. It has also forged an alliance with gastrointestinal disease specialist Ironwood Pharma to raise awareness of the drug and testing among gastroenterologists, who are often involved in the care of AHP patients.
The estimated global prevalence of AHP is in the range of two to five per 100,000 for people with systemic or systematic disease, and there are thought to be roughly 1,000 diagnosed patients in US and Europe who are severely affected and experience recurrent attacks. Many patients with active disease remain undiagnosed.
Alnylam gets CHMP backing for second gene-silencing drug Givlaari

Former FDA Commissioner Scott Gottlieb Joins Illumina’s Board

Illumina, Inc. (ILMN) on Thursday said Scott Gottlieb, a former commissioner of the U.S. Food and Drug Administration, has joined its board.
Dr. Gottlieb currently is a special partner at venture capital firm New Enterprise Associates and a resident fellow at the American Enterprise Institute, the company said.
He served as FDA commissioner from 2017 to 2019.
Illumina develops, makes and sells tools and integrated systems for analysis of genetic variation and function.

https://www.marketscreener.com/ILLUMINA-INC-9659/news/Illumina-Former-FDA-Commissioner-Scott-Gottlieb-Joins-Illumina-s-Board-29955619/

Twist Bio adds to rally, up 10%, on ‘favorable’ legal development

Twist Biosciences (TWST +9.9%) is up again today. Shares have rallied 40% since touching $21.01 on January 27.
The move is reportedly related to a “favorable” legal development, almost certainly pertaining to a lawsuit brought by Agilent (A -0.4%) who sued the company and CEO Dr. Emily Leproust in February 2016 over alleged breach of contract (use of confidential information and alleged breach on non-solicitation), alleged breach of duty of loyalty and alleged misappropriation of trade secrets (10-K, page 53). The defendants countersued Agilent in January 2019.
Update: According to Cowen’s Doug Schenkel, a hearing set for tomorrow has been canceled with the court vacating the scheduled trial, signaling that a settlement may be close.
https://seekingalpha.com/news/3539352-twist-bio-adds-to-rally-up-10-on-favorable-legal-development

Co-Diagnostics RUO test for coronavirus now available; shares up 15%

Co-Diagnostics (CODX +15.3%) is up on almost double normal volume on the heels of its announcement that its Research-Use-Only (RUO) CoPrimer test for 2019-nCov, the coronavirus causing the current outbreak, is ready for sale to qualified laboratories, hospitals and institutions.
https://seekingalpha.com/news/3539385-co-diagnostics-ruo-test-for-coronavirus-now-available-shares-up-15