Search This Blog

Thursday, August 24, 2023

ChatGPT Fails at Recommending Cancer Treatment


 As close and tempting as they sound, cancer treatment regimens designed by artificial intelligence tools are riddled with errors and still likely years away.

Computer-designed cancer treatment plans generated by OpenAI Inc.’s ChatGPT were plagued with a familiar problem, researchers at Brigham and Women’s Hospital found: Inappropriate treatment recommendations were intermingled with correct ones, making them especially hard to distinguish, according to the study published Thursday in the journal JAMA Oncology.

https://www.bloomberg.com/news/articles/2023-08-24/chatgpt-fails-at-recommending-cancer-treatment-study-finds

Retail Traders Are Driving Up to 40% of Zero-Day Options Boom

 Day traders are far more active in the booming world of zero-day stock options than Wall Street realizes, according to the exchange at the center of the frenzy.

Retail investors likely make up at least 30% of the volume in contracts tied to the S&P 500 that expire within 24 hours — and possibly up to 40% — according to Jonathan Zaionz, senior derivatives analyst at Cboe Global Markets. That’s much higher than estimates around 5% given by academics and researchers at firms like JPMorgan Chase & Co.

Getting a handle on who’s behind the rise in options with zero days to expiration, or 0DTE, matters in part because retail money is perceived as less sticky and more speculative than institutional investors. Still, getting a clean read on market positioning isn’t easy since retail broker platforms — which according to Cboe account for 90% of all 0DTE volumes — are also used by pros.

“While it is impossible to know with absolute certainty, through data that we as the exchange can see – such as originating retail broker or original order size – we’re fairly confident that between 30% and 40% is true retail,” Zaionz said in an interview. “Since day one, the share has stayed pretty consistent, plus or minus a few percent each month.”

The varied estimates demonstrate the vexing nature of an investing tool whose influence in the equity market has sparked a heated debate on Wall Street. Most recently, Goldman Sachs Group Inc. and Bank of America Corp. have issued conflicting takes on whether these popular derivatives have fueled a stock selloff.

Zero-day options were discovered by retail investors as a convenient way of speculating during what became known as the meme-stock craze in 2021. Their reach widened in 2022 when exchanges including Cboe extended S&P 500 option expirations to cover all five weekdays, unleashing a new wave of 0DTE boom. The frenzy shot to new highs lately as the equity benchmark fell toward its worst month of 2023 amid frequent intraday reversals.

The participation of day traders and their track record have become a subject of interest to Wall Street players and academics. At JPMorgan, strategists including Peng Cheng developed an algorithm to identify transactions from individual investors through various factors such as execution quality and timing of trades. The team put retail’s market share in zero-day options at 5%.

While some treat the prevalence of small-size transactions as being associated with the retail crowd, others Like JPMorgan’s Cheng have argued it’s more likely computer-powered institutions breaking down big orders into small ones to cloak their strategies.

“‘Retail’ can mean different things to different people,” he said.

Also up for debate is how to approach complex 0DTE strategies that utilize layers of puts and calls in so-called multi-leg trades. Some view them as being mostly driven by big money, but Cboe’s Zaionz suggests small-time traders are also part of the game.

“Retail is a lot more sophisticated than it used to be,” he said. “Zero commission trading, ease of order executions, and the availability of trading tools and educational resources opened up access to the markets for retail participants.”

https://finance.yahoo.com/news/retail-traders-driving-40-zero-150205344.html

Galapagos cut to Neutral by Citi

 From Buy

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

NextGen, Luma to Offer AI-Enhanced Solutions for Patient Engagement

  NextGen Healthcare Inc. (Nasdaq: NXGN), a leading provider of innovative, cloud-based healthcare technology solutions, and Luma Health, innovator of the market-leading Patient Success Platform™, announced an expanded alliance to equip ambulatory organizations nationwide with artificial intelligence (AI)-enhanced solutions for patient communications, beginning with intake and self-scheduling.

https://finance.yahoo.com/news/nextgen-healthcare-luma-health-announce-142400386.html

Recursion Pharmaceuticals stock gets boost after Nvidia results

 Shares of Recursion Pharmaceuticals Inc. (RXRX) jumped more than 4% premarket on Thursday after chip giant Nvidia Corp. (NVDA) on Wednesday posted blowout quarterly results. Recursion last month announced a $50 million investment from Nvidia, structured as a private investment in public equity, and plans to accelerate drug discovery using artificial intelligence. The biotech company said it will use Nvidia's BioNeMo cloud service for generative AI in drug discovery to help develop its internal pipeline as well as its current and future partners. Recursion's biological and chemical dataset includes over 23 petabytes and 3 trillion searchable gene and compound relationships. Recursion shares have gained 21.7% in the year to date, while the S&P 500 is up 15.5%.

https://www.morningstar.com/news/marketwatch/20230824320/recursion-pharmaceuticals-stock-gets-boost-after-nvidia-results

''CDC Says New COVID-19 Variant Could Cause Infections In Vaccinated People'

 by Jack Phillips via The Epoch Times,

The U.S. Centers for Disease Control and Prevention (CDC) stated Wednesday the new BA.2.86 COVID-19 lineage may cause infection in people who received vaccines or previously had the virus.

The CDC said it is too soon to know whether this might cause more severe illness compared with previous variants. But due to the high number of mutations detected in this lineage, there were concerns about its impact on immunity from vaccines and previous infections, the agency said.

“The large number of mutations in this variant raises concerns of greater escape from existing immunity from vaccines and previous infections compared with other recent variants,” the CDC stated in its assessment.

“For example, one analysis of mutations suggests the difference may be as large as or greater than that between BA.2 and XBB.1.5, which circulated nearly a year apart.”

But it said that “virus samples are not yet broadly available for more reliable laboratory testing of antibodies, and it is too soon to know the real-world impacts on immunity.”

The agency added that it detected at least two cases with the BA.2.86 variant in the United States, although few other details were provided. It was also found in Israel, the United Kingdom, South Africa, and Denmark, the agency said.

One of the BA.2.86 cases was found in a person detected via the CDC’s traveler surveillance system, while it added that cases being found in several countries is evidence of international transmission.

“Notably, the amount of genomic sequencing of SARS-CoV-2 globally has declined substantially from previous years, meaning more variants may emerge and spread undetected for longer periods of time,” according to the assessment.

“It is also important to note that the current increase in hospitalizations in the United States is not likely driven by the BA.2.86 variant. This assessment may change as additional data become available.”

The CDC noted that most of the U.S. population has COVID-19 antibodies from a previous infection, vaccination, or both. It’s likely that the antibodies will provide some protection against the variant, said the CDC.

The CDC said on Wednesday the slight recent increase in hospitalizations in the United States is not likely driven by the BA.2.86 lineage.

Based on an analysis of the mutations to the new virus, the CDC stated that COVID-19 tests and antiviral drugs are likely still going to work against it. “At this time, we don’t know how well this variant spreads, but we know that it spreads in the same way as other variants,” the CDC said.

A top official with the World Health Organization, meanwhile, has designated the BA.2.86 as a “variant under monitoring,” noting that there is “limited” information about the variant.

But some scientists warned that people shouldn’t jump to conclusions about the variant.

“Intrinsic severity of a virus is a byproduct of many traits, a product of selection on other features. Any attempt to guess the intrinsic severity of BA.2.86 (within reasonable parameters) is just that—a guess,” Aris Katzourakis, a biologist with the University of Oxford, wrote on social media.

“It is far, far too early to evaluate the potential of this variant.”

Michael Osterholm, the head of the University of Minnesota’s Center for Infectious Disease Research and Policy, told Stat News that the new subvariant should be monitored closely but he noted that a large number of subvariants and variants of COVID-19 didn’t take off.

“I assume that all are innocent until proven guilty,” he said,

And based on the evidence so far, the threat of BA.2.86 isn’t clear, said a CDC spokesperson. “We do not yet know what risks, if any, this may pose to the public’s health beyond what has been seen with other currently circulating lineages,” the spokesperson told EveryDay Health.

The CDC statement comes as Moderna, Pfizer, and Novavax are slated to release updated COVID-19 vaccines this fall, again possibly making them available for all ages. There is anticipation that the U.S. Food and Drug Administration will authorize the booster shots in the coming weeks.

It also comes as a small number businesses, schools, offices, and hospitals in recent days opted to re-implement mask mandates. A college in Atlanta, Hollywood studio Lionsgate, several hospitals, and others recently made masks mandatory, sparking concerns among some social media users that a broader attempt to re-instate mandates might be coming to the United States in the fall or winter.

“Employees must wear a medical grade face covering (surgical mask, KN95 or N95) when indoors except when alone in an office with the door closed, actively eating, actively drinking at their desk or workstation, or if they are the only individual present in a large open workspace,” a Lionsgate manager wrote in a memo, according to Deadline Hollywood.

The mandate was implemented even as the local Los Angeles County Department of Public Health reported that for COVID-19, “overall metrics remain at a low level of concern.”

https://www.zerohedge.com/covid-19/shocked-cdc-says-new-covid-19-variant-could-cause-infections-vaccinated-people

Bionomics: Last Patient Last Visit in Phase 2b for PTSD; Confirms Expected 2023 Milestones

 

  • The last patient last visit has been completed in the Phase 2b ATTUNE study of BNC210 for the treatment of PTSD

  • Topline results from Phase 2b ATTUNE study of BNC210 in patients with PTSD are expected by the end of September 2023

  • An end-of-phase 2 (EoPh2) meeting with the U.S. Food and Drug Administration (FDA) has been scheduled for September 2023 to review results from the Phase 2 PREVAIL study in patients with Social Anxiety Disorder (SAD) and to obtain feedback on a proposed Phase 3 registrational program

  • Bionomics is scheduled to delist from the Australian Securities Exchange on 28 August 2023