Search This Blog

Thursday, March 5, 2020

Opko Health up on planned launch of coronavirus testing service

OPKO Health (OPK +11.7%) jumps on the news that subsidiary BioReference Laboratories will launch its coronavirus testing service next week.
Earlier today, Quest Diagnostics announced its service that will also start next week. Expect more reference labs to follow.
https://seekingalpha.com/news/3549100-opko-health-up-12-on-planned-launch-of-coronavirus-testing-service

NanoViricides up 36% after hours on coronavirus drug progress

NanoViricides (NYSEMKT:NNVC) jumps 36% after hours in reaction to its announcement related to its development plans for a drug to treat COVID-19 infection.
Management intends to conduct initial testing of its drug candidates in its own virology laboratory using low-threat coronavirus strains that have been normally circulating in the human population. If successful, it has the ability to make “kilogram quantities” in just a few weeks which, it says, would be sufficient to treat several hundred to a few thousand patients.
https://seekingalpha.com/news/3549208-nanoviricides-up-36-after-hours-on-coronavirus-drug-progress

Coronavirus Containment Is ‘Unlikely Outcome’ as Spread Grows Worldwide

More cases of the new coronavirus were reported globally, from New York to Australia to South Korea, as some health officials warned it would be impossible to fully contain the pathogen now that infections are spreading within many communities.
Two New York City residents have tested positive for the virus, bringing the total number of cases in the state to 13, Mayor Bill de Blasio said Thursday. The patients, who don’t have a known connection to any of the previous cases, were confirmed to have the virus late Wednesday night, a mayoral spokeswoman said.
In the Seattle area, the site of one of the largest concentrations of the new coronavirus in the U.S.,big tech companies asked employees to work from home and a school district with more than 23,500 students announced it would close for up to 14 days in wake of the virus’s spread.
Facebook Inc. closed its one of its 18 Seattle offices until March 9 after an employee there, a contractor who last worked on Feb. 21, was diagnosed with the new coronavirus.
The roughly 150 people who worked out of that location must do their jobs from home until March 31, per guidance from county officials, the company said. Facebook is also encouraging all of its roughly 5,000 employees in the Seattle area to work from home through that date.
Amazon Inc. has also asked many of its Seattle-area employees to work from home until the end of March. On Tuesday, an employee who works in the company’s Seattle headquarters tested positive for the novel coronavirus. And Microsoft Corp. told employees at its Redmond, Wash., headquarters, as well as its Bay Area offices, that those who are able to work from home should do so.
Local authorities in King County, which includes Seattle, have taken more aggressive steps this week to prevent the virus’s spread. Officials encouraged businesses to allow employees to work from home when possible; recommended vulnerable populations — including residents over the age of 60 or those with underlying illnesses — stay home and avoid public events; and advised organizations to cancel or postpone large public gatherings.
Northshore School District, which includes parts of both King and Snohomish counties, announced Thursday it would close its 33 campuses and continue lessons online in an up to two-week closure.
The decision, which officials said comes after a parent at an elementary school tested positive for the virus, mirrors the actions of school districts in Hong Kong and in China and Italy, among other hard-hit countries.
“Now, I believe that the time has come for our district community to make an important shift,” said Michelle Reid, superintendent, in a letter to district families Wednesday. “We want to do our part to slow the spread of this coronavirus.”
The number of cases in the U.S. has risen to 162, with 11 deaths, according to data Thursday morning from Johns Hopkins University.
Ten of those deaths are in Washington state. Officials in King County on Wednesday disclosed 10 new cases of infection, bringing the county’s total to 31. Most of the new cases were residents of a nursing home that has become the center of an outbreak, suggesting the virus is spreading between people in the community there.
“The biggest thing is the announcement of community transmission in various places,” said Siouxsie Wiles, an associate professor in microbiology at the University of Auckland in New Zealand. “That’s starting to change the picture quite a bit.”
Tennessee Gov. Bill Lee announced the state’s first case of the viral infection Thursday morning, signaling the virus’s further spread.
The patient is a 44-year-old man who is isolated at home in Williamson County, outside of Nashville, with mild symptoms. He had recently returned to the state after domestic travel, local health officials said. The man’s household is also quarantined at home, and authorities are reaching out to any people who may have made contact with them.
“It has been a very difficult week for our state in a lot of ways,” said Mr. Lee, referring to the recent deadly tornadoes that ripped through the state. “We don’t want to understate the seriousness of this situation, but we also want to remind folks that keeping it in perspective is important.”
In California, Gov. Gavin Newsom declared a state of emergency so the government could make more resources available to combat the virus’s spread. He said the state’s confirmed cases rose to more than 50.
One person, an elderly patient with underlying health conditions, died after likely becoming exposed to the virus while traveling between San Francisco and Mexico aboard a Princess Cruises ship last month, according to health officials in Placer County near Sacramento.
On Wednesday, a Carnival Corp. cruise ship on a two-week voyage was ordered to return to a port in San Francisco after health officials said they were investigating a “small cluster” of Covid-19 cases tied to the same ship’s previous trip in February.
In Australia, officials Thursday said there were now 52 confirmed cases of the virus, up from 41 a day earlier. Six people who tested positive had no history of overseas travel and four of those cases are associated with a nursing home in Sydney, including a 95-year-old who recently died — indicating that transmission among local residents is under way. The source of infection for three other cases is being investigated.
“We do have an evolution happening in the spread of this virus,” said Brad Hazzard, the health minister for New South Wales state, which includes Sydney. Authorities are trying to stop the spread but containment is “an unlikely outcome,” he said.
Community transmission is a milestone for any disease and makes it more difficult for health officials given that the virus could be circulating among the general public.
Several countries reported increases in coronavirus cases. South Korea, the hardest-hit country outside of China, said Thursday afternoon it now has 6,088 coronavirus cases, up by 467 from a day earlier. Japan reported 33 more cases, bringing its total to 317, while New Zealand confirmed its third case.
Japan said Thursday that a visit to Tokyo by Chinese President Xi Jinping, scheduled for April, has been postponed due to the epidemic. The country is imposing a two-week quarantine on visitors from China or South Korea, and will ban visitor arrivals from regions of South Korea and Iran worst affected by the virus.
New Zealand officials said the country’s third case of the virus appeared to be “family transmission” — a man in his 40s with close family who recently returned to New Zealand after visiting Iran. Three other members of the man’s family had previously been unwell. Officials said some family members flew from Doha, in Qatar, to New Zealand’s largest city, Auckland, on Qatar Airways Flight 920, departing Feb. 22.
In China, where the epidemic got its start late last year, authorities reported 139 new cases on Thursday, up from 119 on Wednesday. Infections outside of China have been outpacing infections inside. There have been more than 95,000 cases of infection world-wide, with about 15,000 outside of China, according to data from Johns Hopkins. Globally, about 3,200 people have died.
Chinese authorities also reported two new coronavirus cases from people who recently returned from overseas, bringing the total number of infections originating abroad to 20. Local authorities said those two new cases were a mother and daughter who came from Italy, which has also been hard hit by the coronavirus.
Efforts to contain the virus have already forced airlines to cancel flights, public gatherings to be suspended and business conferences to be postponed, presenting a significant challenge to global economic growth.
Australia’s government beefed up travel restrictions Thursday, saying that it wouldn’t allow travelers who had recently been to South Korea to enter the country. It already had restrictions in place on mainland China and Iran.
In the U.S., the House of Representatives passed an $8.3 billion emergency spending package on Wednesday to combat the virus. Italy, meanwhile, became the latest country to close its schools.
Raina MacIntyre, a professor and head of the biosecurity program at the Kirby Institute at the University of New South Wales, said the evidence of community transmission suggests there are more people, without showing symptoms, who are spreading the virus than health officials initially realized. Covid-19, the name for the illness caused by the virus, has flulike symptoms including fever and coughing.
“I don’t think we’re at the peak, I think we’re at the beginning of the increase,” Ms. McIntyre said, noting that it could take up to two weeks for infected people to start showing symptoms. “There’s going to be some time delay in seeing the epidemic unfold.”
https://www.marketscreener.com/FACEBOOK-10547141/news/Coronavirus-Containment-Is-Unlikely-Outcome-as-Spread-Grows-World-Wide-2nd-Update-30115408/

3M taps regional suppliers to meet soaring demand for masks

Diversified manufacturer 3M Co has avoided major supply chain disruptions from the coronavirus outbreak by sourcing materials for its protective face masks from regional suppliers instead of far-flung locations, a company official told Reuters.

More than 3,200 people have died from the fast-spreading coronavirus, which has reached more than 80 nations. It has spurred buying sprees on medical supplies like face masks, even as world health officials have warned that citizens generally do not need to buy such supplies, and that stockpiling by the public can put healthcare workers, who do need them, at risk.
3M has ramped up testing and production of single-use N95 respirator masks, designed to filter 95% of airborne particles, along with more robust respiratory protective gear amid the coronavirus outbreak.
So far, the company has not seen disruptions in production, Nikki McCullough, global lead for occupational health and safety at 3M, told Reuters at its global testing lab outside of Minneapolis,
“If we start to see disruptions, we’ll certainly work to alert our customers. At this point in time, we are able to manufacture and we are continuing at capacity for respirators,” she said.
U.S. Vice President Mike Pence, who is heading the coronavirus response team in the United States, said on Sunday that the U.S. government is seeking 35 million additional masks per month from 3M. Pence will visit the 3M facility on Thursday.
3M produces all of the components of the filters in its N95 respirator masks in house but sources other materials from regional suppliers, including the straps and metal nose clips that hold the masks in pace, McCullough said.
“Since we have this regional manufacturing model, many of our items are coming regionally. And we’re working with our supply partners very closely to monitor the situation,” McCullough told Reuters.
The company is not currently under contract to produce the masks and is preparing to respond to the government’s request, 3M spokeswoman Jennifer Ehrlich said.
Demand for masks like the ones produced by 3M has outpaced supply as the coronavirus outbreak, which originated in China, has spread. The outbreak has riled markets and disrupted global supply chains, largely in export-dependent China.
“The demand is outstripping capacity right now, and we’re working 24/7 to ramp up and be able to meet as much of that demand as we can,” CEO Michael Roman told investors at an industry conference last month.
The U.S. Department of Health and Human Services intends to buy 500 million N95 respirators over the next 18 months for the Strategic National Stockpile (SNS), the nation’s supply of pharmaceuticals and medical supplies.

https://www.marketscreener.com/news/3M-taps-regional-suppliers-to-meet-soaring-demand-for-masks–30115167/?countview=0

India plans to airlift components from China to help local tech industry

India is planning to backstop its growing electronics sector by arranging to airlift components from China, three government officials said, as it tries to contain the fallout from the coronavirus crisis in China.

India’s federal technology ministry has asked electronics and smartphone industry lobby groups to draw up a list of components made in China which then can be airlifted, two of the officials said. China is slowly getting back to work after an extended shutdown, but it is still grappling with a range of production and logistics delays.
Electronics manufacturing, especially the assembly of smartphones, is a bright spot for India’s otherwise flagging economy. But the country is still highly dependent on China for components such as camera modules and display screens.
The emergency airlift plans underscore the interconnected nature of global supply chains and the continued dependence on China for key goods even as some manufacturers – prompted in some cases by the U.S.-China trade war – move to build up capacity outside of China.
Other industries are also exploring airfreight options.
The Automotive Component Manufacturers Association of India has reached out to its members to assess which parts are in short supply and can potentially be air-lifted, according to a source aware of the matter. India’s auto industry relies heavily on China for parts such as electronic components, pressure sensors and fuel injectors.
India’s embassy in China is also helping coordinate an airlift of drug ingredients from China, said a government adviser with direct knowledge of the matter.
For the electronics and smartphone components, the technology ministry “is in touch with aviation carriers and air freighters and they’ve been connected with the industry,” one of the government sources said.
The airlifting of components from the Chinese cities of Guangzhou and Shanghai is one option being discussed, the official said.
The sources did not say when the airlifting might begin. The aviation ministry did not immediately respond a request for comment.
Lack of truck drivers, a proliferation of road checkpoints and a shortage of workers at Chinese ports have slowed shipments even for parts that are still being produced, Reuters has reported. Air cargo firms have also reduced services in response to crew health concerns and uncertain demand.
China is India’s biggest trading partner, but India’s imports of Chinese goods contracted in February to their lowest levels in nearly four years, trade ministry data reviewed by Reuters showed.
SCRAMBLING IN INDIA
Smartphone makers in India thus far have largely weathered the virus crisis, partly because they had built up inventories of Chinese-made parts to cover the Lunar New Year holiday period when China’s factories close down.
But those stocks could dry up soon. S.N. Rai, the co-founder of homegrown smartphone maker Lava, said the supply of some components had resumed, but the pace of production at his factory on the outskirts of New Delhi could soon slow down.
“The period between March 10 and March 20 is going to be very tough,” Rai told Reuters. “In the absence of supplies, we might have to cut one or two of the three eight-hour shifts we have daily.”
Others are scrambling for components too.
The India units of contract manufacturers Wistron Corp, which makes some of Apple Inc’s lower-priced iPhones, and Flex Ltd have, through an industry body, asked for government help in securing components including camera modules and displays from China, according to two industry sources.
Wistron and Flex did not immediately respond to Reuters’ requests for comment.
Chinese smartphone makers Oppo and Korea’s Samsung Electronics did not respond to requests seeking comment on their supply chains.
https://www.marketscreener.com/SAMSUNG-ELECTRONICS-CO–6494906/news/India-plans-to-airlift-components-from-China-to-help-local-tech-industry-sources-30112643/

Heat Biologics up 14% on coronavirus vaccine plan

Nano cap Heat Biologics (HTBX +13.9%) jumps on a healthy 12x surge in volume in reaction to its collaboration with the University of Miami Miller School of Medicine aimed at developing a coronavirus vaccine.
The company says the COVID-19 vaccine will leverage its gp96 platform to generate open docking sites for the insertion of multiple SARS-CoV-2 antigens, adding that its approach should activate a potent immune response without the disadvantages of possible genomic integration of foreign DNA or viral vector instability possible with attenuated viral vaccines.
Subsidiary Zolovax will lead development.
https://seekingalpha.com/news/3549068-heat-biologics-up-14-on-coronavirus-vaccine-plan

Actinium Pharma up on advancement of Actimab-A in leukemia

Nano cap Actinium Pharmaceuticals (ATNM +23.9%) is up on triple normal normal volume in response to its update on a Phase 1 clinical trial being conducted at the Medical College of Wisconsin evaluating Actimab-A, combined with CLAG-M chemo, in patients with relapsed/refractory acute myeloid leukemia (AML).
The first patient in the third and final cohort has begun treatment. The cohort should be completed by mid-year.
The objectives of the study are safety, determining the maximum tolerated dose, response rates, progression-free survival and overall survival.
The overall response has been 86% thus far, better than other approaches.
Actimab-M is a targeted cancer therapy comprised of a monoclonal antibody called HuM-195 that binds to a protein found on the surface of myeloid cells called CD33 and a radioisotope that kills cancer cells called actinium 225. The expression of CD33 in certain blood cancers is associated with very aggressive disease.
https://seekingalpha.com/news/3549077-actinium-pharma-up-24-on-advancement-of-actimab-in-aml