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Thursday, August 13, 2020

Mallinckrodt up 11% on merger chatter

Mallinckrodt (MNK +11.1%) perks up on modestly higher volume in apparent response to social media chatter that it is in merger talks with an unnamed company.

The company has been under a bankruptcy cloud due to its potential exposure to opioid crisis-related liabilities and a reimbursement cut to top seller Acthar Gel.


Seres upped to Buy from Hold by Jefferies

Target to $29 from $4.


Biocept to provide COVID-19 testing to multi-state locations

Biocept (NASDAQ:BIOC) has entered into an agreement with a healthcare group operating multiple states to provide COVID-19 testing to skilled nursing facilities.

“We began by providing COVID-19 testing services to a few facilities within this group, and they have been impressed by our quick turnaround times, with the vast majority of our COVID-19 testing results reported within 48 hours,” said Michael Nall, President and CEO of Biocept.

The company’s initial service is now expanded into a formal agreement for Biocept to be one of only two labs contracted to provide COVID-19 testing to employees and residents/patients in this system.


Chinese cities find virus in Brazilian chicken wings, Ecuadorian shrimp packaging

Two cities in China have found traces of the new coronavirus in imported frozen food and on food packaging, local authorities said on Thursday, raising fears that contaminated food shipments might cause new outbreaks.

A sample taken from the surface of frozen chicken wings imported into the southern city of Shenzhen from Brazil, as well as samples of outer packaging of frozen Ecuadorian shrimp sold in the northwestern Xian city, have tested positive for the virus, local authorities said on Thursday.

The discoveries came a day after traces of the coronavirus that causes COVID-19 were found on the packaging of frozen shrimp from Ecuador in a city in eastern Anhui province. China has been stepping up screenings at ports amid the concerns over food imports.

Shenzhen’s health authorities traced and tested everyone who might have come into contact with potentially contaminated food products, and all results were negative, the city’s notice said.

The Brazilian embassy in Beijing did not immediately respond to a request for comment. Reuters could not immediately reach the Ecuadorean embassy in Beijing.

“It is hard to say at which stage the frozen chicken got infected,” said a China-based official at a Brazilian meat exporter.

The Shenzhen Epidemic Prevention and Control Headquarters said the public needed to take precautions to reduce infection risks from imported meat and seafood.

The health commission of Shannxi province, where Xian city is located, said authorities are testing people and the surrounding environment connected to the contaminated shrimp products sold in a local market.

In addition to screening all meat and seafood containers coming into major ports in recent months, China has suspended some meat imports from various origins, including Brazil, since mid-June.

The first cluster of COVID-19 cases was linked to the Huanan seafood market in the city of Wuhan. Initial studies suggested the virus originated in animal products on sale at the market.

Li Fengqin, who heads a microbiology lab at the China National Center for Food Safety Risk Assessment told reporters in June the possibility of contaminated frozen food causing new infections could not be ruled out.

Viruses can survive up to two years at temperatures of minus 20 degrees Celsius, but scientists say there is no strong evidence so far the coronavirus that causes COVID-19 can spread via frozen food.


Xinfadi market in China’s capital city Beijing, a sprawling food market linked to cluster infections in June, where virus was found on the chopping board on which imported salmons were handled, will be reopened from the weekend.

How the virus entered Xinfadi market in the first place is yet to be determined, the Chinese Center for Disease Control and Prevention said in its latest update of the investigation in July.


AstraZeneca ships flu vaccine nasal spray to U.S. for upcoming season

AstraZeneca (NYSE:AZN) has shipped the first lot of Flumist Quadrivalent (Influenza Vaccine Live, Intranasal) to the U.S. for the 2020-2021 flu season. It is indicated for people between the ages of 2 and 49, although it may not prevent influenza in everyone who gets vaccinated.


Novavax closes COVID-19 vaccine antigen supply deal

Novavax (NASDAQ:NVAX) inks an agreement with South Korea’s SK Group subsidiary SK bioscience for the development and supply of the antigen component of COVID-19 vaccine candidate NVX-CoV2373.

The parties have also signed a letter of intent with the Republic of Korea’s Ministry of Health and Welfare aimed at working toward broad access of NVX-CoV2373 in South Korea and global markets.

Financial terms remain confidential.


XpressSpa inks COVID-19 testing facility contract at Newark facility

Following its successful pilot program at JFK International Airport, XpressSpa (NASDAQ:XSPA) +5.8% PM signed a contract with the Port Authority of New York and New Jersey to provide diagnostic COVID-19 testing at Newark Liberty International Airport through its XpresCheck brand; expected to be fully operational in the week of August 17.

It is currently building a modular constructed testing facility within Terminal B, hosting 6 separate testing rooms with a capacity to administer over 350 tests/day.

Commencing Aug 10, XpressSpa will expand its testing services to the traveling public as airport traffic likely to increase in upcoming months.