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Tuesday, July 14, 2020

COVID-19 vaccine developers perk up on IMV rally

Premarket buying is lifting many COVID-19 vaccine players after IMV (NASDAQ:IMV) announced Health Canada sign-off on a Phase 1 study of its candidate DPX-COVID-19, expected to launch this summer. Shares are up a healthy 153% premarket on robust volume.
Selected tickers: Vaxart (NASDAQ:VXRT) (+12%), Dynavax (NASDAQ:DVAX) (adjuvant news) (+7%), Novavax (NASDAQ:NVAX) (+4%), iBio (NYSEMKT:IBIO) (+1%), GlaxoSmithKline (NYSE:GSK) (+1%), Moderna (NASDAQ:MRNA) (+5%), Inovio Pharmaceuticals (NASDAQ:INO) (+3%), Soligenix (NASDAQ:SNGX) (+8%), Altimmune (NASDAQ:ALT) (+9%), Vir Biotechnology (NASDAQ:VIR) (+2%).

Bank earnings to reveal more about state of U.S. economy

“This is the week when we find out if the real world is going to intrude on the stock market world,” CNBC’s Jim Cramer declared as big U.S. banks begin reporting their Q2 results.
“If the banks can rally, then maybe we’ve gone ‘through the looking glass,'” he said. “If the banks get hammered, things could get ugly.”
While investors should expect another big hit as lenders set aside more loan loss provisions, that could be offset by a boost in fee incomes from elevated investment banking and trading activity, as well as mortgage demand.
Citigroup (NYSE:C), JPMorgan Chase (NYSE:JPM) and Wells Fargo (NYSE:WFC) will all release earnings before the opening bell, followed by Goldman Sachs (NYSE:GS), Bank of America (NYSE:BAC) and Morgan Stanley (NYSE:MS) later this week.


Aldeyra up as holder Perceptive raises stake over 19%

Aldeyra Therapeutics (NASDAQ:ALDX) is up 8.7% postmarket after a filing noting Joseph Edelman’s Perceptive Advisors raised its stake to 19.1%.
Perceptive acquired 3.2M shares at an average price of $4.25 on Thursday, according to a Form 4 filing.
That brought indirect beneficial ownership to 6,285,458 shares.

Dr. Reddy’s launches generic nicorette lozenges in U.S.

Dr. Reddy’s Laboratories (NYSE:RDY) announces the launch of Over-the-Counter (OTC) Nicotine Polacrilex Lozenges, 2 mg and 4 mg in the U.S., the store brand version of GlaxoSmithKline’s Nicorette Lozenges.
The Nicotine Lozenges brands and store brand markets had total U.S. retail sales of ~$200M for the year ended May 17, according to IRI.

Heart scans of more than half of COVID-19 patients abnormal

Coronavirus may have a serious impact on the heart, with more than half of COVID-19 patients revealing abnormal scans, a study suggests.
Researchers at Edinburgh University examined ultrasound scans, known as echocardiograms, of 1,261 patients in hospitals from 69 countries.
They discovered abnormal changes to the way the heart was pumping in 55% of the patients, with around one in seven showing evidence of severe dysfunction.
Around 3% of patients had suffered a recent heart attack.
The majority – 901 patients – had no known heart problems before, leading scientists to conclude that COVID-19 itself, the disease caused by coronavirus, may seriously affect the heart.
Among this group, heart scans were abnormal in 46% of patients and 13% had severe disease.
The scans showed abnormalities were almost evenly split between the left and right chambers of the heart.


Mayor proposes shutdown as Houston COVID-19 case count rises

Houston Mayor Sylvester Turner on Saturday proposed a shutdown, arguing it was necessary as COVID-19 cases have climbed steadily in recent weeks.
“We have to acknowledge the fact that we opened too quickly, too soon,” said Turner. “We have to acknowledge the fact that the numbers are continuing to rise. We have to recognize the fact that not everybody is going to put on this mask. Let’s just be real, even with the requirement. Knowing all of that and knowing what works, you’ve got to recalibrate.”
Turner’s comments came as coronavirus cases in the city and state have reached record levels, daily deaths have risen and hospitals have seen an increase in the number of patients with COVID-19.
Texas set a record on Saturday, reporting 10,351 new cases, the Associated Press reported. A record 10,083 COVID-19 patients are hospitalized, while 99 new fatalities were also reported Saturday. The total is second only to the record 105 reported Thursday and brought the state’s overall death toll to 3,112.
On Saturday, the City of Houston reported 1,524 new cases and nine deaths. It is the second time in less than a week that the city has reported over 1,000 new cases in a single day.
“Quite frankly, I appreciate the governor putting in the requirement to wear a mask, giving local authorities the ability to restrict outside gatherings,” said Turner. “Even though I don’t have the ability to take us back to phase 1, I strongly recommend that for the next two weeks, that if I were the governor, I would just bring things down, shut things down for the next couple of weeks to take the energy away from this virus.”
Earlier this month, Abbott ordered Texas residents to cover their faces in public. Though for months, Abbott was against issuing a statewide mask order, daily coronavirus cases totals have swelled in the past few weeks and he has slowly rolled back reopening measures and even shuttered the state’s bars to help mitigate the spread of the virus.
But several law enforcement agencies in Texas, including the Montgomery County Sheriff’s Office, have refused to enforce Abbott’s order to wear masks in public.
“We’re needing to slow down the number of people that are having to go the hospital,” said Turner, “And the way we do it is what we did in March, April and May and that is you have to pull back, and separate to take the fuel away from this virus such that you can regain some modicum of control.”
Turner also stated concerns over restarting in-person public schooling next month, arguing it “makes no sense to be having this conversation while this virus is out of control.”
“If you want to send your kids back, and I want the kids to go back for example in August, then in order to give people that added comfort you’ve got to get control of this virus in July,” said Turner. “You don’t send kids back to school when there’s a raging fire and the fire’s still burning in August. Put the doggone fire out in July. Shut down for a couple weeks. Then we can see where things are and we can gradually move forward and then we can put our kids and parents and teachers and cafeteria workers and everybody else in the best position when it comes time to talking about school.”

NY to fine travelers from Florida $2,000 if they don’t provide contact info

New York Gov. Andrew Cuomo says people traveling to his state from Florida will be fined $2,000 if they don’t provide contact information to authorities when they arrive.
“Out-of-state travelers from high-COVID states must provide contact information upon arrival,” Cuomo said in a tweet. “If you fail to provide it, you will receive a summons with a $2K fine,” the tweet reads.
“We’re serious about enforcing quarantine.”
New York is requiring travelers from 19 states, including Florida, to self-quarantine after they arrive. Florida Gov. Ron DeSantis required the same of travelers from New York when that state was a hot spot near the start of coronavirus spread in the United States.
The other states are Alabama, Arizona, Arkansas, California, Delaware, Georgia, Iowa, Idaho, Kansas, Louisiana, Mississippi, Nevada, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Utah.
Florida counted 12,624 coronavirus infections on Monday and 35 deaths a day after posting the most positive daily tests of any state since the pandemic began.