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Friday, June 5, 2020

Apple reportedly offers coronavirus tests to returning employees

Apple is reportedly offering coronavirus tests to employees at its Bay Area campus as they begin to return to the office after months of working from home.
In addition to having their temperature taken and being required to wear a mask at One Infinite Loop, Apple workers will have the option to get a nasal swab test as well, according to Bloomberg.
Apple was one of the earliest companies to send its employees home, doing so on March 8. But unlike other Silicon Valley giants like Facebook and Twitter — which have publicly spoken about allowing employees to work remotely permanently — Apple needs people in the office to work on its hardware products.
In March it was reported that the launch of the next iPhones may be delayed by “practical hurdles” caused by the coronavirus.
Apple traditionally needs to send engineers back and forth from its offices to its factories in China to finalize designs in the lead-up to the product’s release. But the coronavirus has led Apple to restrict employee travel to hotbeds of the disease, including China.
The Cupertino, Calif., company recently announced that it would be reopening more than 100 of its US retail locations after a months-long closure due to the pandemic.

De Blasio can’t explain why NYC saw spike in coronavirus hospitalizations

The number of hospital admissions across the city spiked to 84 Friday, a day after just 48 were recorded, according to Mayor Bill de Blasio.
But it’s unclear whether the startling increase is related to the mass protests and spread of coronavirus, the mayor said.
“That’s a meaningful movement in one day. We’re going to keep a close eye on that,” said de Blasio.
“We do not see evidence that it’s related to everything that happened over the last few weeks because of the time it takes for the disease to manifest.”
The mayor said it would take a week to 10 days to see any manifestation of the coronavirus.
The city has been the scene of numerous crowded protest gatherings in the wake of George Floyd’s police-involved death in Minneapolis.
On Wednesday, the Big Apple recorded zero confirmed deaths from COVID-19 for the first time since March 12.
https://nypost.com/2020/06/05/de-blasio-cant-explain-why-nyc-saw-spike-in-hospitalizations/

Pliant Therapeutics closes $166M IPO

Pliant Therapeutics (NASDAQ:PLRX) has closed its IPO of 10.35M common shares at $16 per share yielding gross proceeds of ~$165.6M.
The offering included underwriters’ full exercise of their over-allotment of 1.35M shares.

Fusion Pharmaceuticals readies IPO

The Boston, MA-based onclogy company develops next-generation radiopharmaceuticals as precision medicines based on its proprietary platform called Targeted Alpha Therapies (TAT) and its proprietary Fast-Clear linker technology.
Lead candidate is FPI-1434, a humanized monoclonal antibody targeting the insulin-like growth factor 1 receptor (IGF-1R), a well-established tumor target, linked to isotope actinium-225.
2019 Financials: Operating Expenses: $18.2M (+80%); Net Loss: ($16.2M) (-38%); Cash Burn: ($13.7M) (-38%).
https://seekingalpha.com/news/3580912-fusion-pharmaceuticals-readies-ipo

Sarepta to release data on gene therapy for rare type of muscular dystrophy

Sarepta Therapeutics (NASDAQ:SRPT) will host a webcast and conference call on Monday, June 8, at 8:30 am ET to present new data from six-subject Phase 1/2 clinical trial evaluating gene therapy candidate SRP-9003 in patients with beta-sarcoglycanopathy or Limb-girdle muscular dystrophy type 2E, a rare type of muscular dystrophy characterized by weakness in the pelvic and shoulder girdle.
Results will include expression and safety data from the high-dose cohort and one-year functional results from the low-dose cohort.
https://seekingalpha.com/news/3580895-sarepta-to-release-data-on-gene-therapy-for-rare-type-of-muscular-dystrophy

Teva recalls lots of metformin due to contamination

Teva Pharmaceutical Industries (TEVA +1.0%) is voluntarily recalling fourteen lots of metformin hydrochloride extended-release tablets due to the detection of N-nitrosodimethylamine (NDMA) levels in excess of the Acceptable Daily Intake Limit (ADI).
NDMA is an environmental contaminant and considered a probable human carcinogen based on lab tests.
https://seekingalpha.com/news/3580881-teva-recalls-lots-of-metformin-due-to-contamination

Healthcare sector jobs increase by 312K in May thanks to dentists’ offices

The healthcare sector earned 312,000 more jobs in May compared to the month before, with dentist offices representing the largest increase.
The numbers released, Friday by the Bureau of Labor Statistics, come as the healthcare sector seeks to recover from a financial crisis spurred by the COVID-19 pandemic.
Overall the healthcare sector grew to 15.2 million jobs, up from 14.9 million in May and 16 million in April. The biggest reason for the change was due to dentist’s offices, where jobs increased by 244,000 compared to April.
Physician office jobs increased by 51,000 compared to April. Physician offices have been hit hard by rapid declines in patient volume due to the pandemic.

But hospital employment declined by 26,000 in May. Some major hospital systems have been forced to furlough and lay off staff due to low patient volume and the cancellation of surgical procedures at the onset of the pandemic back in March.
Some hospital systems have slowly started to resume elective procedures canceled or delayed, but they must meet stringent requirements on testing and infection control to protect patients and staff from COVID-19.
Nursing care facilities also lost 36,000 jobs from April to May. The Trump administration announced that 32,000 nursing home residents have died due to COVID-19 and that it will update the Nursing Home Compare website with infections and deaths for each facility.
Congress has allocated $175 billion to providers to help get through the crisis, but provider groups have been calling for more due to the major drop in revenue.
https://www.fiercehealthcare.com/practices/healthcare-sector-jobs-increase-by-312k-may-thanks-to-dentist-offices