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Tuesday, March 10, 2020

NY to close schools, houses of worship in suburban center of coronavirus outbreak

Schools, houses of worship and large gathering venues in part of the New York City suburb of New Rochelle will shut down for two weeks in an effort to contain the coronavirus outbreak at its local epicentre, Governor Andrew Cuomo said on Tuesday.

The shutdown, which begins on Thursday and is due to last until at least March 25, affects an area of New Rochelle in Westchester County that measures 1 mile (1.61 km) in diameter. The county accounts for more than 100 of the state’s 173 confirmed cases, the governor said.
“This will be a period of disruption for the local community,” Cuomo said at a news conference. “It is a dramatic action, but it is the largest cluster in the country. And this is literally a matter of life and death.”
Cuomo said he was calling in the National Guard to the containment area to assist with cleaning public spaces and to deliver food to homes.
New Rochelle Mayor Noam Bramson said the National Guard would ensure that students who rely on school meals would receive food but would “not have a military or policing function.”
“It is very important to clarify that this is not an exclusion or quarantine zone. No one is prohibited from entering or leaving the area,” the mayor said at a news conference after the governor’s announcement.
The number of cases of the highly contagious respiratory illness caused by the virus has risen steadily to more than 800 in the United States. There have been 28 deaths, most of them in Washington state, according to a tally by Johns Hopkins University. New Jersey on Tuesday reported the state’s first death.
The containment measure will close three public schools and several parochial and private schools, in addition to houses of worship, country clubs, and possibly other public places, Bramson said.
New Rochelle’s senior center, which is outside the containment zone, will also be closed until further notice to prevent spread of the disease among one of the most vulnerable groups, the mayor said.
Coronavirus deaths have disproportionately hit the elderly with the largest U.S. cluster at a nursing home near Seattle.
Bramson said his office was still consulting with state authorities to create a comprehensive list of businesses and facilities that would be affected.
The group of cases in Westchester County emerged after an attorney who lives in New Rochelle and works in Manhattan became the second person in New York to be diagnosed with the virus last week.
Some cases in the town have been traced to the Young Israel Synagogue of New Rochelle, where the attorney attended services last month. The synagogue, which public health officials closed last week, is at the center of the containment zone.
“The heaviest burdens have fallen upon the members of Young Israel,” Bramson said. “Many are quarantined, which is enormously disruptive to their daily lives, and yet there has been a sense of commitment to the common good.”
New York State Health Commissioner Howard Zucker said in a statement on Tuesday that he believed the risk generally to people in New York remained low, and Cuomo urged New Yorkers not to panic.
“If you are not a member of the vulnerable population then there is no reason for excess anxiety,” Cuomo said.

https://www.marketscreener.com/news/New-York-to-close-schools-houses-of-worship-in-suburban-centre-of-coronavirus-outbreak–30140033/

Sanders cancels Cleveland rally over coronavirus concerns

U.S. Democratic presidential candidate Bernie Sanders has cancelled a rally set for Tuesday night in Cleveland over concerns about holding large public gatherings during the coronavirus outbreak, his campaign spokesman said.

“Out of concern for public health and safety, we are cancelling tonight’s rally in Cleveland,” spokesman Mike Casca said in a statement.
“We are heeding the public warnings from Ohio state officials, who have communicated concern about holding large, indoor events during the coronavirus outbreak,” he said. “All future Bernie 2020 events will be evaluated on a case by case basis.”

https://www.marketscreener.com/news/Bernie-Sanders-cancels-Cleveland-rally-over-coronavirus-concerns–30140031/

Generic anti-malarial may treat COVID-19 – Raymond James

A generic drug used to treat malaria may be as promising as any that companies are currently scrambling for to treat COVID-19, the coronavirus-related disease spreading rapidly, Raymond James says.
Analyst Steven Seedhouse says chloroquine – a longtime oral anti-malarial that costs pennies per dose – could turn out “more effective, scalable, and affordable” than the candidates being studied by companies including AbbVie (NYSE:ABBV), Gilead (NASDAQ:GILD), and Regeneron (NASDAQ:REGN), not to mention Moderna (NASDAQ:MRNA), GlaxoSmithKline (NYSE:GSK), Pfizer (NYSE:PFE) and others.
After very early indications of efficacy in China, chloroquine is seeing increased demand suggesting it may be seeing real-world use already, though ultimate efficacy depends on data that still need to be gathered.
https://seekingalpha.com/news/3550389-generic-anti-malarial-may-treat-covidminus-19-raymond-james

GT Biopharma up 20% on plan for coronavirus treatment

Thinly traded nano cap GT Biopharma (OTCQB:GTBP +20%) is, yet another, would-be player in the rush to develop a drug to treat COVID-19.
This morning, it announced a collaboration agreement with contract development and manufacturing services provider Cytovance Biologics aimed at advancing a TriKE candidate for severe acute respiratory syndrome associated with SARS-CoV-2 infection, the coronavirus causing the current outbreak.
Under the terms of the deal, the companies will focus on producing enough product for preclinical studies using Cytovance’s E. coli-based Keystone Expression System. Production will be scaled up with Cytovance’s GMP microbial manufacturing platform for human trials.
TriKEs (Tri-specific NK cell Engager) are small single-chain fusion proteins that bind to a certain receptor on natural killer (NK) cells, eliciting a more durable and potent immune response. GT’s first TriKE candidate was GTB-3550 for the potential treatment of acute myeloid leukemia (AML).
https://seekingalpha.com/news/3550190-gt-biopharma-up-20-on-plan-for-coronavirus-treatment

Gilead’s Descovy shows long-term effectiveness in HIV PrEP study

Longer-term data from the Phase 3 DISCOVER study evaluating Gilead Sciences’ (GILD -5.2%) Descovy (emtricitabine 200 mg and tenofovir alafenamide 25 mg tablets, F/TAF) for preexposure prophylaxis (PrEP) to reduce the risk of sexually acquired HIV-1 infection in at-risk adult men and transgender women showed a favorable safety profile and non-inferior efficacy compared to Truvada (emtricitabine 200 mg and tenofovir disoproxil fumarate 300 mg, F/TDF). The results were presented at the Conference on Retroviruses and Opportunistic Infections in Boston.
At week 96, participants receiving Descovy continued to show beneficial changes in key biomarkers of renal and bone safety.
Descovy’s non-inferiority to Truvada was demonstrated in the overall study population as well as subpopulations of participants older than 50 and younger than 25. A separate analysis showed that both drugs were effective and well-tolerated in Black and Hispanic/Latinx subjects.
The FDA approved Descovy in October 2019 for HIV PrEP.
https://seekingalpha.com/news/3550202-gileads-descovy-shows-long-term-effectiveness-in-hiv-prep-study

Teladoc up 6% on insurance coverage of telemedicine

Teladoc (TDOC +6.2%) perks up on 22% higher volume on the heels of an announcement from Vice President Mike Pence that health insurers will pay for telemedicine services during the COVID-19 outbreak.
The company is top dog in the space, completing ~4.1M telehealth visits last year. It says it has over 36.7M U.S. members and 19.3M visit fee-only users, delivering services in more than 175 countries around the world.
https://seekingalpha.com/news/3550209-teladoc-up-6-on-insurance-coverage-of-telemedicine

FDA postpones foreign inspections due to COVID-19

Citing the risks of the COVID-19 outbreak, the FDA is postponing most foreign inspections through April, effective immediately. In the meantime, the agency will consider ex-U.S. inspections deemed mission-critical on a case-by-case basis.
The FDA based its decision on the State Department’s Level 4 travel advisory (prohibits travel for U.S. government employees), CDC recommendations, access restrictions imposed on foreign visitors imposed by certain countries, guidance from the Office of Personnel Management and the importance of the health and safety of FDA staffers.
ETFs: THW, BME, GRX, IXJ, GDNA, KMED, XLV
https://seekingalpha.com/news/3550219-fda-postpones-foreign-inspections-due-to-covidminus-19