Apellis Pharmaceuticals (NASDAQ:APLS) shares plunged Monday on the back of a short report from Citron Research, which said the "happy days are over" for the company.
The short-selling firm said it has "reason to believe that CEO Cedric Francois is not being honest with Wall St. about the report cases of vasculitis" regarding the company's drug Syfovre.
Citron Research pointed to the first meeting of the American Academy of Ophthalmology in San Francisco since the approval of Syfovre, where the drug was discussed.
The firm said it is highly likely that more will emerge about Apellis and Syfovre, and they believe "legal action seems imminent" and "it won't be surprising if the FDA steps in with a warning label following a more thorough review of the drug."
APLS shares are currently down more than 8% following the report, trading around the $43 per share mark. The stock hit a low of $41.19 earlier in the session.
The Trade: Repare Therapeutics Inc. RPTX 10% owner Mark Lampert acquired a total of 783,709 shares at an average price of $3.60. The insider spent around $2.82 million to buy those shares.
What’s Happening: Repare Therapeutics posted a narrower-than-expected loss for its second quarter.
What Repare Therapeutics Does: Repare Therapeutics Inc is a precision medicine oncology company focused on the development of synthetic lethality-based therapies for patients with cancer.
New Jersey Democratic political boss George Norcross was kicked out of a Philadelphia Eagles game Sunday after he was confronted by security about the American-Israeli flag he was flying from his luxury suite and an altercation ensued, stadium officials said.
Norcross, 67, a power broker whose endorsements are widely sought after in the Garden State, was seen on a video posted to X being confronted by security officers at Lincoln Financial Field, where he was watching the Eagles take on the Dallas Cowboys.
He was filmed yelling and pointing at a security guard before being led away.
Meanwhile, another security officer reached down and tore down his flag — showing the American flag on one half and the Israeli flag on the other, in an apparent display of support for the Jewish nation.
A stadium official told The Post that flags have been prohibited at the stadium in a “longstanding policy.”
When security guards confronted Norcross about the display, the stadium official said he became “verbally and physically abusive” and was therefore removed from the stadium.
Lincoln Financial Field’s policy on signs and banners says security can remove anything that is “potentially offensive.
“Signs, banners or similar items that are obscene or indecent, not event-related, potentially offensive to other patrons, capable of blocking views of other fans or otherwise deemed dangerous or inappropriate by the Eagles are prohibited,” it says.
“Lincoln Financial Field reserves the right to confiscate any signs that are in violation of stadium policy.”
The security guard tore down his flag — showing the American flag on one half and the Israeli flag on the other, in an apparent display of support for the Jewish nation.X / @julieroginsky
But some fans criticized stadium officials for removing Norcross for his pro-Israel display.
Lincoln Financial Field does not have any specific policy against displaying flags, but its policy on signs and banners says security can remove anything that is “potentially offensive.”X / @julieroginsky
“The Eagles owe an apology to George and to the Jewish community #IStandWithIsrael.”
The Post reached out to Lincoln Financial Field and the Philadelphia Eagles for comment.
The Norcross family has previously expressed its support for Israel, with George’s brother, Donald, a New Jersey Democratic representative, joining a congressional delegation to visit the Jewish nation just three days afterHamas launched its surprise attack on Oct. 7.
Donald was seen in meetings with Israeli Prime Minister Benjamin Netanyahu, and released a statement afterward reaffirming his support for the country.
“It was important for myself and my colleagues to travel to Israel to show the strength of the US-Israel relationship and our unwavering bipartisan, bicameral unity for Israel and the Jewish people,” he said at the time.
“Israel is our closest and most important ally in the Middle East, and they need our support now more than ever.”
MSP Recovery, Inc.LIFWshares are trading higher tday. Last Monday, the company announced that it is in compliance with allapplicable Nasdaq listing standards
What To Know: MSP Recovery announced last Monday that it is now in compliance with all applicable Nasdaq listing standards, per a correspondence it received from Nasdaq on Oct. 27, allowing the company's Class A common stock to continue to be listed and traded on the exchange. The company has rectified its previously disclosed bid price deficiencies, although it will be subject to continued compliance with applicable Nasdaq listing standards.
The stock has been trending higher over the past several days, after hitting an all-time low last week. News that CEO John Hasan Ruiz bought 467,290 shares last Thursday appears to have been a strong catalyst for the recent move higher.
Primary endpoint and all key secondary endpoints met with high statistical significance in GLOW study.
With 6-month dosing of all patients, tarcocimab and the ABC platform continue to demonstrate differentiated durability.
Following dialogue with US regulatory authorities, Kodiak plans to conduct one additional pivotal study with a commercial formulation of tarcocimab.
New regulatory strategy could support a single Biologics License Application (BLA) for macular edema following retinal vein occlusion (RVO), wet age-related macular degeneration (wAMD) and non-proliferative diabetic retinopathy (NPDR).
Kodiak believes that it has sufficient capital to fund a comprehensive KSI-501 clinical program in parallel.
