Trump presses ‘pathetic’ Fed to cut rates more aggressively

President Donald Trump on Tuesday lashed into the U.S. Federal Reserve and its chairman Jerome Powell, calling the institution “pathetic, slow moving” and saying it should bring U.S. interest rates down to the level of “competitor nations.”

“Our pathetic, slow moving Federal Reserve, headed by Jay Powell, who raised rates too fast and lowered too late, should get our Fed Rate down to the levels of our competitor nations,” Trump said on Twitter. “They now have as much as a two point advantage, with even bigger currency help.”

https://www.marketscreener.com/news/Trump-presses-pathetic-Fed-to-cut-rates-more-aggressively–30137542/?countview=0

Novavax up on advancement of coronavirus vaccine

The Coalition for Epidemic Preparedness (CEPI) has awarded $4M to Novavax (NASDAQ:NVAX) to support the development of a COVID-19 vaccine. It is currently assessing multiple candidates in animal models.

The parties are in talks about additional funds to support the company’s costs through Phase 1 (expected to begin in late spring).

Novavax plans to use its proprietary Matrix-M adjuvant with its vaccine candidates to enhance immune responses.

Emergent BioSolutions (NYSE:EBS) will provide contract development and manufacturing services and will supply product through Phase 1 testing.

Shares up 17% premarket on light volume.

https://seekingalpha.com/news/3550033-novavax-up-17-premarket-on-advancement-of-coronavirus-vaccine

COVID-19 test for Becton Dickinson Max System CE Mark’d

CerTest Biotec and Becton, Dickinson and Company (NYSE:BDX) announce CE Mark certification of the VIASURE SARS-CoV-2 Real Time PCR Detection Kit adapted for BDX’s automated molecular diagnostic platform called the BD Max System.

The real-time reverse transcriptase polymerase chain reaction (PCR) assay, developed by CerTest, detects the presence of the coronavirus by amplifying a fragment of the S gene of the virus.

The BD Max System can generate results from up to 24 samples in less than three hours.

The test kit is not yet available in the U.S.

https://seekingalpha.com/news/3550050-covidminus-19-test-for-bd-max-system-ce-markd

McKesson up on overprescribed exchange offer for SpinCo shares

McKesson (NYSE:MCK) reports that its offer to stockholders to exchange its common shares for shares of PF2 SpinCo, which holds MCK’s interest in Change Healthcare LLC, is overprescribed.

About 98.2M of MCK shares were tendered, of which ~15.4M were accepted in exchange for ~176M SpinCo shares (1:11.4086 ratio).

SpinCo will be merged with and into Change Healthcare (NASDAQ:CHNG), a healthcare data and analytics provider, enabling MCK to exit its investment.

MCK is up 3% premarket on modest volume while CHNG is up 12% on robust volume.

https://seekingalpha.com/news/3550134-mckesson-up-3-on-overprescribed-exchange-offer-for-spinco-shares

Bellerophon sets late-stage study of INOpulse for pulmolnary hypertension

Based on FDA feedback, Bellerophon Therapeutics (BLPH +12%) has set the key aspects of its planned Phase 3 clinical trial evaluating INOpulse for the treatment of pulmonary hypertension associated with pulmonary fibrosis.

The primary endpoint will include the use of moderate-to-vigorous physical activity. The trial should launch shortly.

Results from a Phase 2 study, announced about a month ago, were positive.

INOpulse is a drug-device combination system that delivers pulsed doses of nitric oxide.

https://seekingalpha.com/news/3550140-bellerophon-sets-late-stage-study-of-inopulse-for-ph-shares-up-12

Takeda Ninlaro shows less-than-expected effect in first-line multiple myeloma

Results from a Phase 3 clinical trial, TOURMALINE-MM2, evaluating the addition of Takeda Pharmaceutical’s (TAK +2.3%) Ninlaro (ixazomib) to Celgene’s Revlimid (lenalidomide) and dexamethasone in newly diagnosed transplant ineligible multiple myeloma (MM) patients came up short of expectations.

Specifically, the ixazomib triplet extended median progression-free survival (PFS) compared to the doublet therapy (35.3 months versus 21.8 months) but the separation fell short of statistical significance (p=0.073).

No new safety signals were observed.

The data will be submitted for presentation at a future medical conference.

The FDA approved Ninlaro in November 2015 for MM patients who have received at least one prior line of therapy.

https://seekingalpha.com/news/3550147-takedas-ninlaro-shows-less-expected-effect-in-first-line-multiple-myeloma

Albireo advancing mid-stage study of IBAT inhibitor in NASH/NAFLD

Albireo Pharma (ALBO -0.9%) completes the enrollment of 47 subjects in a Phase 2 clinical trial evaluating ileal bile acid transporter (IBAT) elobixibat (5 mg) in patients with nonalcoholic fatty liver disease (NAFLD) or nonalcoholic steatohepatitis (NASH), the first such study assessing an IBAT inhibitor in these patients according to the company.

The primary endpoint is the change from baseline in low-density lipoprotein cholesterol (“bad” cholesterol) at week 16.

Topline data should be available mid-year.

https://seekingalpha.com/news/3550162-albireo-advancing-mid-stage-study-of-ibat-inhibitor-in-nash-nafld