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Tuesday, August 8, 2023

Kids almost NEVER transmitted Covid in schools, a major new study shows

 Children almost never passed Covid infections in school, a study published Friday reveals.

In fall 2021, in four Massachusetts school districts with 18,000 children, researchers found 44 potential cases of in-school transmission.

You read that right.

18,000 students. 34 schools. Four months. And 44 Covid infections - including no infections of teachers or other staff members.

Throughout 2020 and 2021, as parents pressed with increasing urgency to reopen classrooms, teachers unions and Democratic politicians warned in-school Covid transmission would lead to waves of death. “Teachers are so worried about returning to school that they’re preparing wills,” CNN infamously wrote on July 16, 2020.

In reality, schools were among the safest possible places for students and teachers during Covid, this study suggests.

The study, which ran in the peer-reviewed journal JAMA Health Forumis both nearly useless and vital.

It’s nearly useless in advancing our actual knowledge about Covid- because serious researchers have known since 2020 that children spread Covid much less frequently than adults and that schools and camps were likely to be major sources of new Covid cases.

As early as April 11, 2020, French researchers published a paper showing that an infected nine-year-old child had not transmitted the disease “despite close interactions within schools.” By August 2020, researchers in Spain and Sweden had confirmed that finding on a much larger scale.

The reason is obvious too, since it is the same reason kids get much less sick than adults. They have lower viral loads and clear the infection more quickly. For many healthy children, Covid is barely even a cold.

Yet the new paper is also vital.

Why? Because it covers American schools and was published in an American journal. And the American Covid-political-medical complex has had the habit for three-plus years of simply ignoring any research from outside the United States, especially if it includes inconvenient data and facts.

And so having concrete American evidence that schools were not in any way meaningful vectors for Covid transmission can only help to make sure the colossal mistake of mass school closures never happens again.

Too bad it comes far too late to matter to the kids in blue states who in some cases were denied over a year of in-person education.

Alex Berenson is a former New York Times reporter and the author of 13 novels, three non-fiction books, and the Unreported Truths booklets. His newest book, PANDEMIA, on the coronavirus and our response to it, was published in November 2021.

https://alexberenson.substack.com/p/kids-almost-never-transmitted-covid

Credit card debt hits $1T for the first time ever

 Americans are increasingly turning to their credit cards to cover everyday expenses, with debt surpassing $1 trillion for the first time at the end of June, according to a New York Federal Reserve report published Tuesday. 

In the three-month period from April to June, total credit card debt surged to $1.03 trillion, an increase of $45 billion, or 4.6% from the previous quarter. It marks the highest level on record in Fed data dating back to 2003.

The rise in credit card usage and debt is particularly concerning because interest rates are astronomically high right now. The average credit card annual percentage rate, or APR, hit a new record of 20.33% last week, according to a Bankrate database that goes back to 1985. The previous record was 19% in July 1991.

If people are carrying debt to compensate for steeper prices, they could end up paying more for items in the long run. For instance, if you owe $5,000 in debt – which the average American does – current APR levels would mean it would take about 277 months and $7,723 in interest to pay off the debt making the minimum payments. 

"One trillion dollars in credit card debt is staggering," said Matt Schulz, chief credit analyst at LendingTree. "Unfortunately, it is likely only going to keep growing from here."

The increase in the credit card category helped to push total household debt to a staggering $17.06 billion, a 0.1% increase from the first three months of 2023. Balances are now $2.9 trillion higher than they were at the end of 2019, before the COVID-19 pandemic began.

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Auto loan balances also contributed to the uptick, climbing by $20 billion or 4.3% over the course of the second quarter. Student loan debt, meanwhile, declined by $35 billion while mortgage balances remained largely unchanged at $12 trillion, despite an uptick in mortgage originations.

While delinquency rates remain relatively small, there was an uptick in borrowers who are struggling with credit card and auto loan payments. As of June, about 2.7% of outstanding debt was in some stage of delinquency, up slightly from the 2.6% recorded the previous quarter. That remains 2 percentage points lower than the pre-pandemic level. 

But the fact that there is any semblance of delinquency rates rising during such a strong labor market is concerning. Experts have warned the rate may begin to climb higher as student loan payments resume in the fall after the Supreme Court struck down President Biden's forgiveness plan. 

"Even as inflation has lingered and interest rates have risen, pushing card debt to record levels, Americans have generally done a good job paying their credit card bills on time," Schulz said.

"That may not last, however. The resumption of student loan payments will be a huge test for many cardholders, shrinking the amount they have to devote to paying off card debt and leaving some people simply unable to make minimum payments at all."

The rise in balances comes in the midst of the Federal Reserve's aggressive interest rate-hike campaign as it tries to crush stubborn inflation and cool the economy. 

https://www.foxbusiness.com/economy/credit-card-debt-hits-1-trillion-first-time-ever

Organon results beat estimates on demand for women heath products, biosims

 Organon & Co reported better-than-expected second-quarter results on Tuesday, helped by strong demand for its women's heath products and biosimilar drugs, sending the healthcare firm's shares up about 8%.

The company posted quarterly revenue of $1.61 billion, beating analysts' average estimate of $1.57 billion.

Revenue from its Women's Health segment rose 8% to $438 million, as sales of oral contraceptive Nexplanon jumped 12% to $214 million.

"In the United States, the Dobbs decision has driven an increase in demand from patients obtaining Nexplanon through providers under the 340B program, which is a more highly discounted channel," the company said in a conference call.

In the case known as as Dobbs v. Jackson Women's Health Organization, the U.S. Supreme Court in June last year overturned a ruling that established a constitutional right to abortion.

Revenue at the company's biosimilar unit increased 14%, primarily driven by Renflexis, a copycat version of autoimmune diseases' treatment Remicade.

Organon and partner Samsung Bioepis in July launched Hadlima, a biosimilar for AbbVie's blockbuster arthritis drug, Humira, at $1,038 per month, an 85% discount to the original treatment cost.

The biosimilar is being evaluated for the interchangeability designation, which allows patients to switch between the reference product and a copycat version without approvals from the prescribing physician.

Organon said it expects the interchangeability indication for the drug, which met the goals in a recent trial, by next summer.

The company said it expects revenue from its Established Brands franchise to be flat for 2023 after a 2% dip in second-quarter sales.

Organon now expects annual revenue of $6.25 billion to $6.45 billion, compared with its earlier forecast of $6.15 billion to $6.45 billion. Analysts estimate full-year revenue of $6.28 billion.

Excluding items, the company reported a profit of $1.31 for the quarter, compared with analysts' average estimate of 99 cents.

https://www.yahoo.com/news/organon-results-beat-estimates-demand-144301705.html

NovoCure upped to Overweight from Neutral by Piper

 Target $45

https://finviz.com/quote.ashx?t=NVCR&ty=c&ta=1&p=d

Why Is Infinity Pharmaceuticals (INFI) Stock Up 84%

 Infinity Pharmaceuticals (NASDAQ:INFI) stock is rocketing higher on Tuesday morning despite a lack of news from the biopharmaceutical company.

Investors seeking out news concerning shares of INFI stock this morning won’t find any new press releases or filings. There’s also been no new coverage from analysts that would explain today’s rally.

However, traders will likely notice that INFI stock is seeing incredibly strong trading this morning. As of this writing, more than 33 million shares have changed hands. That’s an impressive surge in trading volume compared to its daily average of about 920,000 shares.

One thing investors will want to keep in mind about this is INFI stock’s prior closing price of 9 cents per share. That, combined with its market capitalization of just $8 million, firmly place the shares in penny stock territory.

Why Does This Matter for INFI Stock?

Penny stocks are incredibly volatile due to how easily retail and day traders can manipulate them. The low entry point allows for this when combined with a small market cap. As such, investors can buy up large numbers of shares to boost the price before dumping it for profit.

Traders will also keep in mind that penny stocks are even more volatile outside of normal trading hours. That likely explains why traders are seeing so much movement from INFI stock in pre-market trading this morning.

INFI stock is up 84% as of Tuesday morning.


https://investorplace.com/2023/08/why-is-infinity-pharmaceuticals-infi-stock-up-84-today/


China's CanSino in mRNA vaccine deal with AstraZeneca

 CanSino Biologics has agreed with AstraZeneca to provide "contract development and manufacturing services" to support the Anglo-Swedish drugmaker's messenger RNA (mRNA) vaccine programme, the Chinese company said on Tuesday.

In a filing to Shanghai's stock exchange, CanSino said it would manufacture and supply unspecified mRNA products to AstraZeneca. It did not disclose the value of the deal.

AstraZeneca did not have an immediate comment on the announcement.

In China, which has relied on locally produced COVID-19 vaccines rather than allowing mRNA products from foreign manufacturers to be imported, mRNA vaccines are still not in widespread use.

The country approved in March its first homegrown mRNA vaccine against COVID-19, developed by CSPC Pharmaceutical Group .

CanSino has been working on its own mRNA COVID-19 vaccine, and said in February it was in discussion with Chinese regulators around the protocol for a late-stage study for its COVID-19 mRNA booster vaccine, CS-2034.

AstraZeneca is China's largest drugmaker and is doubling down on the world's No.2 pharmaceutical market amid slumping sales of its COVID vaccine.

At an event in China in May, its China president pledged to "build a local, transnational company that loves the Communist Party and loves the country".

The cooperation deal comes only a month after China's Commerce Minister Wang Wentao told foreign pharmaceuticals firms including AstraZeneca at a roundtable meeting that they can expect "more development opportunities".

It also comes after vaccine maker Moderna, which has said that it was keen to sell its mRNA vaccine to China, announced a deal last month to develop and manufacture mRNA medicines in the country.

https://finance.yahoo.com/news/chinas-cansino-mrna-vaccine-deal-112041254.html

Cardiff: New Lead Program in Metastatic Colorectal Cancer, Expanded Pfizer Relationship

 Advance to first-line RAS-mutated mCRC follows the strong signal from new clinical and preclinical data, and agreement with FDA -

 - First-line mCRC represents substantial increase in patient impact and market opportunity over second-line -

 - Pfizer Ignite will be responsible for the clinical execution of new first-line mCRC trial with interim topline data expected in mid-2024 -

 - Cash position on June 30, 2023 was $89.4 million; sufficient to fund operations into 2025 and through interim topline results from mCRC trial -

 - Company will hold a conference call today at 5:00 p.m. ET/2:00 p.m. PT -

Cardiff Oncology will host a corresponding conference call and live webcast at 5:00 p.m. ET/2:00 p.m. PT on August 7, 2023. Individuals interested in listening to the live conference call may do so by using the webcast link in the "Investors" section of the company's website at www.cardiffoncology.com. A webcast replay will be available in the investor relations section on the company's website for 30 days following the completion of the call.

https://finance.yahoo.com/news/cardiff-oncology-announces-lead-program-200500856.html