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Friday, January 20, 2023

'No Regrets': Biden Breaks Long Silence Over Classified Docs With Shattering Admission

 by Jonathan Turley,

President Joe Biden has something that he wants the public to know.

After the discovery of highly classified material in Biden’s former office, his garage and library, the President wanted to make one thing (and only one thing) perfectly clear: I have no regrets.”

It was a moment that rivaled his disastrous observation that, while classified material was found in his garage, it is a locked garage that also housed his beloved 1967 Chevrolet Corvette Stingray.

While Biden’s “corvette standard” for storing classified documents was baffling, his declaration of “no regrets” is downright infuriating.  It is also remarkably moronic with a special counsel in the field. Either the President believes that Special Counsel Robert K. Hur will paper over the entire affair or he is doing his best to force his hand with a criminal charge.

Biden was miffed to be even asked about the matter after stonewalling the press for days. He ventured out of his White House bunker to tour storm damage in California and used the victims as a virtual human shield: “You know what, quite frankly, bugs me is that we have a serious problem here we’re talking about. We’re talking about what’s going on. And the American people don’t quite understand why you don’t ask me questions about that.”

The problem is that recent polls show that, while the President has no regrets, the public overwhelmingly does. Most citizens view his conduct as negligent. Roughly two-thirds believe that Congress should investigate the President, including a majority of Democrats. Sixty percent believe that he acted inappropriately with classified material.

Nevertheless, after days of hunkering down with this aides and polls, Biden decided to stick with total and absolute denial of regret or responsibility. It was not a surprise for many of us who have following Biden and his family through the years.

wrote at the start of this scandal that Biden’s “silence" is hardly surprising. Biden has always been better at expressing revulsion than responsibility. Time and again, he has literally rushed before cameras to denounce others, often without basis, for alleged crimes. He has not waited for investigations, let alone trials.” When it has come to his own alleged misconduct, Biden will deflect, deny, but rarely declare responsibility.

The comments on Thursday were classic Biden. He first deflected by using the California victims. He then denied any real responsibility. Despite the appointment of a special counsel to investigate his conduct, he shrugged off the entire matter as something akin to finding a neighbor’s borrowed hammer from 2017 in his garage:

“We found a handful of documents were filed in the wrong place. We immediately turned them over to the Archives and the Justice Department …I think you’re going to find there’s nothing there. I have no regrets. I’m following what the lawyers have told me they want me to do. It’s exactly what we’re doing. There’s no there there.” 

Of course, there is also a special counsel “there.”

Indeed, it is never a good idea to go public with expressions of no regret when you are being investigated on whether you took classification laws seriously. The statement was right out of the Alex Baldwin School of Criminal Defense in claiming that the gun did it. Fortunately, the President is not (yet) saying that the Corvette did it.

Since the standard is gross mishandling of classified evidence, the last thing you want to do is convey a grossly negligent attitude toward the discovery of highly classified material in your various private spaces. The President even added that he is “looking forward to getting this resolved quickly.” That quick resolution is less likely when you are telling the special counsel that this is no big deal. That is precisely the type of attitude that leads to classified material being stored with your corvette.

It is hard to imagine how Biden’s legal and political team would come up with this as the best approach when the President finally broke his silence. There is a difference between denying and dismissing an alleged crime. As a criminal defense attorney, I would be mortified by a client publicly dismissing the seriousness of a potential crime while he is under investigation. For most defendants, it would constitute “bearding the lion” and prosecutors would not take kindly to the approach.

Of course, the President could be counting on his prior declaration that “no one f**ks with a Biden.” However, he may be saying the quiet part out loud and putting Hur in an early and uncomfortable position. There is a “there there.” It is classified evidence in places like a garage. By stating that this is likely to wrap up quickly, Biden is not only showing little appreciation for the seriousness of the alleged crime but the seriousness of the investigation. He is not only making Hur look like a stooge or cipher. He is making Baldwin look like a comparative genius.

https://www.zerohedge.com/political/i-have-no-regrets-president-biden-breaks-long-silence-over-classified-docs-shattering

Why Shares of Vaxxinity Jumped This Week

 Shares of clinical-stage biotech company Vaxxinity (VAXX 27.20%) were up 28.2% for the week as of Thursday afternoon, according to data provided by S&P Global Market Intelligence. The stock closed at $2.02 a share last week and rose to as high as $2.63 on Thursday. The stock has a 52-week low of $1.24 and a 52-week high of $10.57.


The company has a relatively small market cap of $307.57 million, so it doesn't take much interest to make the stock soar -- or drop. It focuses on synthetic peptide vaccines to treat chronic diseases such as Alzheimer's, Parkinson's, hypercholesterolemia, migraines, and infectious diseases.

NASDAQ: VAXX

Vaxxinity
Today's Change
(27.20%) $0.68
Current Price
$3.18
 VAXX

KEY DATA POINTS

Market Cap
$315M
Day's Range
$2.46 - $3.22
52wk Range
$1.24 - $8.88
Volume
522,271
Avg Vol
456,679
Gross Margin
-3851.02%
Dividend Yield
N/A

It didn't make any announcements this week, but a number of factors likely contributed to the stock's rise. Vaxxinity completed phase 3 trials last month on its COVID-19 vaccine, UB-612, and cases remain high in China. According to Vaxxinity, UB-612 met its primary and secondary endpoints in a head-to-head booster trial against the approved COVID-19 vaccines of Pfizer-BioNTechAstraZeneca, and Sinopharm Group. The company said it plans to submit rolling submissions to regulatory agencies in the United Kingdom and in Australia in the first half of this year.


Vaxxinty's shares are down more than 67% for the year. It's great that it got a bump, but this past week was a good week in general for biotech stocks. Until it gets approval for its COVID-19 vaccine or gets an FDA approval for any of its other pipeline therapies, it remains a risky stock for investors. However, if it does get approval for UB-612, that could bring some needed revenue to help it finance the rest of the early stage therapies in its pipeline. As of Sept. 30, 2022, it only had $102 million in cash. The company's lead candidate, VXX-401, is expected to begin a phase 1 trial in the first quarter of 2023. It was tested preclinically on non-human primates as a therapy to lower low-density lipoprotein (LDL) and cut the likelihood of cardiac events.

https://www.fool.com/investing/2023/01/19/why-shares-of-vaxxinity-jumped-this-week/

Regeneron upped to Overweight from Neutral by JPMorgan

 Target $850

https://finviz.com/quote.ashx?t=REGN&p=d

Davos 2023-BOJ's Kuroda vows to keep ultra-loose policy

 Bank of Japan Governor Haruhiko Kuroda said on Friday the central bank will continue its current "extremely accommodative" monetary policy to achieve its 2% inflation target in a stable, sustainable manner.

"Our hope is that wages will start to rise, and that could make our 2% inflation target met in a stable and sustainable manner. But we have to wait" for some time, he told a panel at the World Economic Forum (WEF) annual meeting.

Kuroda said the BOJ's decision to widen the band around its 10-year bond yield target was "perfectly right," brushing aside criticism that the move failed to iron out market distortions, and instead fueled speculation of additional tweaks to its yield curve control (YCC) policy.

Japan's

core consumer prices

in December rose 4.0% from a year earlier, double the central bank's 2% target, hitting a fresh 41-year high and keeping alive market expectations the central bank could phase out ultra-low interest rates.

Kuroda said December's rise in inflation was largely caused by higher import costs, adding that consumer inflation will likely start to slow from February and will be less than 2% on average in the fiscal year that begins in April.

"All in all, the government's policy, coupled with the BOJ's extremely accommodative policy, have been successful in changing Japan's economic structure and growth prospects," he said.

"But our 2% inflation target has not been achieved in a sustainable, stable manner," he said. "That is the only regret I have," Kuroda said, speaking of his decade at the BOJ helm that will end when his term expires in April.

https://www.yahoo.com/now/1-davos-2023-bojs-kuroda-110853214.html

China plays down COVID outbreak with holiday rush at full tilt

 People across China crowded into trains and buses for one of its busiest days of travel in years on Friday, feeding fears of new surges in a raging COVID-19 outbreak that officials say has hit its peak.

In comments reported by state media late Thursday, Vice Premier Sun Chunlan said the virus was at a "relatively low" level, while health officials said the number of COVID patients in hospital and with critical conditions was on the decline.

But there are widespread doubts about China's official account of an outbreak that has overwhelmed hospitals and funeral homes since Beijing abandoned strict COVID controls and mass testing last month.

That policy U-turn, which followed historic protests against the government's tough anti-virus curbs, unleashed COVID on a population of 1.4 billion that had been largely shielded from the disease since it emerged in the city of Wuhan in late 2019.

Some health experts expect that more than one million people will die from the disease in China this year, with British-based health data firm Airfinity forecasting COVID fatalities could hit 36,000 a day next week.

"Recently, the overall pandemic in the country is at a relatively low level," Sun said in comments reported by the state-run Xinhua news agency.

"The number of critical patients at hospitals is decreasing steadily, though the rescue mission is still heavy."

She spoke on the eve of one of the most frenetic travel days in China since the start of the pandemic, as millions of city-dwellers travel to their hometowns for the Lunar New Year holiday that officially begins on Saturday.

More than 2 billion trips are expected to take place across China between Jan. 7 and Feb. 15, the government estimates.

'EAGER TO GO HOME'

Excited passengers laden with luggage and boxes of gifts boarded trains on Friday, heading for long-awaited family reunions.

"Everyone is eager to go home. After all, we haven't seen our families for so long," a 30-year-old surnamed Li told Reuters at Beijing's West railway station.


Opiant: FDA Acceptance and Priority Review of NDA for Opioid Overdose Treatment

 Opiant Pharmaceuticals, Inc. (“Opiant”) (NASDAQ: OPNT) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review the New Drug Application (NDA) for OPNT003, nasal nalmefene, Opiant’s product candidate for the treatment of opioid overdose.

The NDA was granted a Priority Review designation and has been given a Prescription Drug User Fee Act (PDUFA) action date of May 22, 2023, accelerating the review time from ten months to six months from the date of filing. Priority Review is granted to therapies that the FDA determines have the potential to provide a significant improvement in the safety or effectiveness of the treatment, diagnosis or prevention of a serious condition.

https://finance.yahoo.com/news/opiant-pharmaceuticals-announces-fda-acceptance-210500729.html

Dr. Reddy’s successfully completes studies of rituximab biosimilar for filing in U.S., Europe

 Dr. Reddy’s Laboratories Ltd. (BSE: 500124, NSE: DRREDDY, NYSE: RDY, NSEIFSC: DRREDDY; hereafter referred to as "Dr. Reddy’s"), a global pharmaceutical company, announced that it has successfully completed the full set of clinical studies of its proposed rituximab biosimilar candidate, DRL_RI, for filing in highly regulated markets such as the United States, Europe and other regions.

DRL_RI is being developed as a biosimilar of rituximab, a cluster of differentiation 20 (CD20) directed cytolytic antibody for approval in the United States, European Union and other regions for various indications including treatment of adult patients with rheumatoid arthritis, non-Hodgkin's lymphoma, chronic lymphocytic leukaemia, pemphigus vulgaris, granulomatosis with polyangiitis and microscopic polyangiitis.

Dr. Reddy’s rituximab biosimilar has already been approved for marketing in India and over 25 emerging markets. The company undertook further clinical development to meet regulatory requirements of highly regulated markets. With the successful completion of these clinical studies, Dr. Reddy’s is now preparing to file Biologics License Application (BLA) / Marketing Authorisation Application (MAA) dossiers with various regulatory authorities globally.

https://finance.yahoo.com/news/dr-reddy-successfully-completes-full-113000134.html