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Monday, March 11, 2024

Shadowy Network Of NGOs Supplies Mega-Corporations With Migrants To Exploit Cheap Labor

 One week ago, we wrote a note describing how illegals are obtaining jobs through a federal government loophole enabled by the Biden administration as they await deportation proceedings. This caught the attention of Elon Musk, who said, "Wow, learn something new every day." 

Now, we're revealing how corporate interests have become deeply interconnected with immigration through a non-governmental organization called Tent Partnership for Refugees. This NGO comprises more than 400 major multinational companies committed to hiring "refugees." 

Several NGO partnerships with mega corporations include RedRoof Inn, Royal Farms, Shopify, CSX, Delta Airlines, DoorDash, Etsy, and even Bloomberg. 

The NGO's relationships run deeper than mega-corporations, in fact, all the way up to the Biden administration. 

In December of 2022, US Secretary of State Antony Blinken signed a memorandum of understanding with Tent Partnership to "expand economic opportunity for refugees" in the private sector. 

Since the Biden administration opened the floodgates, 10 million illegal immigrants invaded the nation. The NGO serves as an extension for mega-corporations to exploit cheap labor.

Since the summer of 2018, there has been zero job creation for native-born workers... 

... and that since Joe Biden was sworn into office, most of the post-pandemic job gains the administration continuously brags about have gone foreign-born (read immigrants, mostly illegal ones) workers.

This leads us to a Bloomberg report showing how meatpacker Tyson Foods Inc. is set to hire tens of thousands of migrants via Tent Partnership. Tyson already employs 42,000 migrants among its 120,000 US workforce. 

"We would like to employ another 42,000 if we could find them," said Garrett Dolan, who leads Tyson's efforts to eliminate employment barriers such as immigration status. 

"We're recognizing there's not a lot of people that are going to be working labor-manufacturing jobs that are American," Dolan said, adding a large portion of new hires "are going to come from refugees and immigrants, so we're now in the business of strategically thinking that through."

In addition to efforts to influence elections and the Census through the influx of illegals, Democrats and their shadowy network of NGOs are pumping migrants to mega corporations, enabling the billionaires to exploit cheap labor. 

https://www.zerohedge.com/markets/shadowy-network-how-ngo-supplies-mega-corporations-migrants-exploit-cheap-labor

Passengers Boycott Boeing "Death Traps" With Use Of Kayak Plane Filter

 We penned a note on Saturday, recapping last week's surge in aviation incidents across the US. The spike in mishaps appears concentrated on Boeing jets, from a midair engine fire to a tire separating from the landing gear to another landing gear issue. We asked if this was sabotage or just shoddy maintenance

Consumers quickly realize, especially after January's midair door plug blowout incident on an Alaska Airlines flight involving a Boeing 737 Max 9 jet, that Boeing planes are flying "death traps." 

In recent weeks, the online travel booking website Kayak has seen a noticeable uptick in users who are filtering out Boeing planes for Airbus when searching for flights, according to ABC News

We suspect this Kayak feature will spike in usage after this past week's aviation incidents:

"If you know what's happening with Boeing and don't wanna fly on those death traps book your tickets on Kayak. They let you eliminate Boeing flights in your searches so you can stick to safer planes like Airbus," one X user said. 

And the boycott of Boeing planes for commercial travel is taking off: 

Meanwhile, Airbus is outselling Boeing, as the Federal Aviation Administration capped production at the troubled plane maker due to quality control issues. 

A recent Al Jazeera hidden camera report into Boeing's South Carolina facility, which builds the 787s, reveals workers wouldn't fly on the very own planes they produce, citing quality control issues. 

Furthermore, Boeing's largest labor union, the International Association of Machinists and Aerospace Workers, has called for a 40% pay increase over the next three to four years. 

Before the pay increase, Boeing and the union should consider a performance-based bonus for workers on quality control metrics—or perhaps no bonus at all. 

https://www.zerohedge.com/markets/passengers-boycott-boeing-death-traps-use-kayak-plane-filter

Ventyx Data for NLRP3 Inhibitor Portfolio and Pipeline Updates

 Ventyx Biosciences, Inc. (Nasdaq: VTYX) (“Ventyx”), a clinical-stage biopharmaceutical company focused on advancing novel oral therapies that address a broad range of inflammatory diseases with significant unmet medical need, will provide clinical and pipeline updates today during its virtual investor event.

“We are excited to announce clinical updates from our novel NLRP3 inhibitor portfolio, including topline results from the Phase 1 trial of VTX3232 in healthy volunteers and topline results from the Phase 2 trial of VTX2735 in CAPS patients,” said Raju Mohan, Chief Executive Officer. “With these compelling clinical results and support from our recent PIPE financing, we are announcing a pipeline reprioritization, with internal resources to be focused on advancing our portfolio of potential best-in-class NLRP3 inhibitors in high value indications with substantial unmet medical need.”

Pipeline Updates

  • VTX3232 (CNS-penetrant NLRP3 Inhibitor): We completed a Phase 1 single- and multiple-ascending dose trial of VTX3232 in adult healthy volunteers to assess the safety, pharmacokinetics and pharmacodynamics of VTX3232. Separate cohorts were included in this trial in which serial cerebrospinal fluid (CSF) sampling was conducted to assess drug exposure and target engagement in the CSF.

    VTX3232 was well-tolerated with no dose-limiting toxicities identified. All treatment-emergent adverse events were graded mild or moderate. VTX3232 exhibited a dose-dependent and dose-linear pharmacokinetic profile. Repeat doses of 3 mg QD maintained steady-state IL-1β IC50 coverage in both plasma and CSF over 24 hours. Repeat doses of 40 mg QD exceeded steady-state IL-1β IC90 coverage in both plasma and CSF over 24 hours. Robust, dose-dependent pharmacodynamic effects were observed in a whole blood ex vivo IL-1β stimulation assay. Additionally, reductions in inflammatory biomarkers were observed in plasma and CSF samples. We believe these data support the potential for VTX3232 to emerge as a best-in-class CNS-penetrant NLRP3 inhibitor for the treatment of neuroinflammatory diseases.

    We expect to initiate a Phase 2a trial of VTX3232 in patients with early Parkinson’s disease during the second half of 2024. We also expect to initiate a Phase 2a trial of VTX3232 in subjects with obesity and certain additional risk factors for cardiovascular disease during the second half of 2024.
  • VTX2735 (Peripheral NLRP3 Inhibitor): We completed a Phase 2 trial of VTX2735 in patients with cryopyrin-associated periodic syndromes, or CAPS, a group of rare autoinflammatory conditions caused by gain-of-function mutations in the NLRP3 gene. This trial enrolled 7 patients with familial cold autoinflammatory syndrome (FCAS), the most common subset of CAPS. Treatment with VTX2735 demonstrated clinically meaningful improvements in disease activity, including an 85% mean reduction in the Key Symptom Score during Treatment Period 1. Reductions in inflammatory biomarkers were also observed, consistent with improvements in disease activity. VTX2735 was well-tolerated and all drug-related adverse events were graded mild. We believe these data establish compelling clinical proof of concept for our peripheral NLRP3 inhibitor VTX2735.

    We plan to evaluate VTX2735 in cardiovascular diseases with an initial focus on the secondary prevention of major adverse cardiovascular events (MACE) and recurrent pericarditis.
  • VTX002 (S1P1R Modulator): In October 2023, we announced positive results from the Phase 2 trial of VTX002 in patients with moderately to severely active ulcerative colitis (UC). We believe these results establish VTX002 as a potential best-in-disease oral agent in UC based on its differentiated efficacy profile, including a high rate of complete endoscopic remission, and its potential best-in-class safety profile.

    At our virtual investor event, we will present data from the ongoing Phase 2 open-label extension. We believe these data continue to support the potentially differentiated profile of VTX002 in ulcerative colitis, with robust rates of clinical remission and endoscopic remission observed among participants completing 52 weeks of treatment with VTX002. At least half of the patients in the 60 mg treat-through group achieved clinical remission or endoscopic remission at Week 52. Activities are underway to prepare for a Phase 3 trial. We intend to identify a partner or other source of non-dilutive financing to support the pivotal Phase 3 trial of VTX002 in ulcerative colitis.
  • VTX958 (TYK2 Inhibitor): We are evaluating VTX958 in a Phase 2 trial in patients with moderately to severely active Crohn’s disease. We recently implemented a protocol amendment for the ongoing Phase 2 trial to streamline trial design and accelerate the detection of an efficacy signal. As a result of the protocol amendment, target enrollment in the trial was revised from approximately 132 patients to approximately 93 patients. The trial’s sole primary endpoint is now the change from baseline in the mean Crohn’s disease activity index (CDAI) score at Week 12. We anticipate completing randomization of the trial during the first quarter of 2024 and expect to report topline results from the Phase 2 Crohn’s disease trial during the middle of 2024.
  • Cash Runway: We reported cash, cash equivalents and marketable securities of $252.2 million as of December 31, 2023. Combined with gross proceeds of approximately $100 million from our recent PIPE financing, and based on our revised pipeline priorities, we now expect our current cash, cash equivalents and marketable securities to fund planned operations into at least the second half of 2026.

Webcast and Conference Call Information

Ventyx will host a virtual investor event today, Monday, March 11, 2024 from 11:00AM to 12:30PM ET. To participate in the event, please dial (800) 343-4849 (U.S.) or (203) 518-9848 (international) and reference passcode VTYX0311. A live webcast will be available in the Investors section of the Company’s website at www.ventyxbio.com. A recording of the webcast will be available for thirty days following the call.

https://www.globenewswire.com/news-release/2024/03/11/2843608/0/en/Ventyx-Biosciences-Reports-Clinical-Data-for-its-NLRP3-Inhibitor-Portfolio-and-Provides-Pipeline-Updates-at-Virtual-Investor-Event.html

Graphite Bio Declares Special Dividend In Connection with Proposed Merger

 Graphite Bio, Inc. (Nasdaq: GRPH) (“Graphite” or the “Company”) today announced that its Board of Directors has declared a special dividend in connection with the previously announced merger (the “Merger”) with Lenz Therapeutics, Inc. (“LENZ”) pursuant to the Agreement and Plan of Merger, dated November 14, 2023 (the “Merger Agreement”).

The special dividend, which the Company estimates will be $1.03 per share of Graphite’s common stock, will be payable in cash to the stockholders of record as of March 18, 2024. The exact amount of the special dividend will be calculated after deducting certain cash amounts as set forth in the Merger Agreement. The payment date in respect of such special dividend will be on March 21, 2024. The special dividend will not exceed an amount equal to $60 million, subject to the adjustments set forth in the Merger Agreement.

Payment of the special dividend is conditioned upon the closing of the Merger, which Graphite’s stockholders will consider and vote upon at the special meeting of Graphite’s stockholders scheduled for 9:00 a.m. PT on March 14, 2024 with closing expected to occur after market close on March 21, 2024, assuming the transaction is approved by Graphite’s stockholders and the satisfaction or waiver of all conditions under the Merger Agreement.

https://www.businesswire.com/news/home/20240308823204/en/

Mesoblast Accelerated Approval Pathway for End-Stage Heart Failure Product

 Mesoblast Limited (Nasdaq:MESO; ASX:MSB), global leader in allogeneic cellular medicines for inflammatory diseases, today announced that U.S. FDA supports an accelerated approval pathway for rexlemestrocel-L, Mesoblast’s allogeneic mesenchymal precursor cell (MPC) product, in patients with end-stage ischemic heart failure with reduced ejection fraction (HFrEF) and a left ventricular assist device (LVAD). FDA provided this feedback in formal minutes to the company following the Type B meeting held with FDA on February 21, 2024 for rexlemestrocel-L (Revascor®) under the existing Regenerative Medicine Advanced Therapy (RMAT) designation.

https://www.globenewswire.com/news-release/2024/03/10/2843446/0/en/United-States-Food-Drug-Administration-FDA-Supports-Accelerated-Approval-Pathway-for-Rexlemestrocel-L-in-End-Stage-Heart-Failure-Patients-with-a-Left-Ventricular-Assist-Device-LVAD.html

ALX Oncology Has 'Elevated Valuation' - Stifel

 Thursday, ALX Oncology Holdings 

+ Free Alerts
 reported a fourth-quarter 2023 EPS loss of $(0.93), missing the consensus of $(0.86).

As of December 31, 2023, cash equivalents and investments were $218.1 million. 

The company says the cash balance and the ability to draw down an additional $40 million of its term loan are sufficient to fund planned operations into early 2026.

In October 2023, ALX Oncology released prespecified interim Phase 2 data from its ASPEN-06 trial of evorpacept plus trastuzumab, Cyramza (ramucirumab), and paclitaxel for HER2-positive gastric/gastroesophageal junction cancer

A confirmed overall response rate (ORR) of 52% was demonstrated for evorpacept in combination with trastuzumab + Cyramza + paclitaxel compared to 22% for the control group of trastuzumab + Cyramza + paclitaxel.

Stifel has downgraded ALX Oncology, saying that the evaluation of ALX Oncology’s CD47 blocker, evorpacept, suggests that its value is currently justified for the HER2+ gastric cancer development opportunity. 

The analyst downgrades ALX Oncology stock from Buy to Hold.

Stifel notes that the assessment is cautious, and optimism is tempered due to the perceived limited market size (sub-$100 million). 

The stance leans towards the sidelines until additional development plans, supported by phase 1/2 data, materialize.

Despite the imminent early-stage data catalysts, there is skepticism about the potential for positive data in Head and neck squamous cell carcinomas

The development paths as a combination backbone, especially with ADCs, seem unclear. 

https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37566272/alx-oncology-has-elevated-valuation-analyst-downgrades-stock-highlights-need-for-de

Are France & The UK Plotting A Ukrainian Power Play Right Under Germany's Nose?

 by Andrew Korybko via Substack,

There are indeed plans for a conventional Western intervention in Ukraine despite their leaders’ denials over the past two weeks, but they’ve yet to fully form and their execution can’t be taken for granted, but they also can’t be ruled out either.

The debate that French President Macron provoked over whether NATO should conventionally intervene in Ukraine exposed the existence of two distinct schools of thought on this issue inside of Europe. France, the Baltic States, and Poland appear to be in favor of “non-combat deployments” there for demining and training missions, which could be carried out through a “coalition of the willing”, while the rest of the bloc supports Germany’s stance that this shouldn’t happen under any circumstances.

Scholz’s Slip Of The Tongue Spilled The Beans On Ukraine’s Worst-Kept Secret”, however, since he inadvertently revealed that there are already British and French troops there helping Ukraine with “target control”. The subsequently leaked Bundeswehr recording about bombing the Crimean Bridge confirmed that the Americans are there too. Nevertheless, what’s being proposed by Paris is a formalization of these deployments along with their gradual expansion in a “non-combat” capacity.

Nobody should be fooled into thinking that France and the other four that appear to be in favor of this scenario are solely interested in demining and training missions. Rather, their intent seems to be to prepare these on-the-ground forces for surging eastward in the event that the worst-case scenario from Kiev’s perspective materializes whereby the frontline collapses and Russia starts steamrolling westward. These NATO members would then try to draw a red line in the sand as far as possible to save Ukraine.

Germany’s approach is altogether different in that it prefers to formally stay out of the fray in order to focus on building “Fortress Europe”. This refers to Berlin’s policy of resuming its long-lost superpower trajectory through “defensive” military means with US support in order to lead Russia’s containment in Europe at Washington’s behest while America “Pivots (back) to Asia” to contain China. A major component of this plan is the “military Schengen” between Germany, the Netherlands, and Poland.

The Baltic States and Poland are unlikely to participate in a conventional intervention in Ukraine without the official participation of a nuclear power because they fear being hung out to dry in the scenario that they clash with Russia inside of that crumbling former Soviet Republic. Therein lies the strategic importance of France’s involvement since it could assuage their concerns due to the possibility of Paris resorting to nuclear brinksmanship with Moscow if its own troops take part in the aforesaid clashes.

The UK wouldn’t sit on the sidelines in that event since it’s already playing a leading role in NATO’s proxy war on Russia through Ukraine and previously signed a trilateral security pact with Kiev and Warsaw in the week before the latest phase of this decade-long conflict started in mid-February 2022. Like France, the UK also doesn’t want to see Germany resuming its superpower trajectory, and both might wager that they can either get the US’ approval for their intervention or do it unilaterally to make it a fait accompli.

France isn’t yet part of the “military Schengen”, which could impede its ability to move large amounts of troops and equipment into Ukraine, so it can either soon join this pact or negotiate its own version with Poland and/or Greece-Bulgaria-Romania to complement its new deal with Moldova. Romania’s “Moldovan Highway” that’s being built in “emergency” mode is creating a new military corridor in the Balkans from which France can counter Germany’s growing military influence across the continent.  

This emerging Greek-Ukrainian corridor is already one of the West’s most important logistical routes for perpetuating the proxy war after the traditional Polish one became unreliable following the farmers’ protests. It therefore makes perfect sense not only to invest in it for that sake alone, but also for countries like France and the UK to entrench their influence along the route in order to create their own “sphere of influence” there for decelerating Germany’s superpower trajectory.

That’s precisely what France is doing via its new security deal with Moldova, which will lead to closer security ties of the “military Schengen” sort with Romania, Bulgaria, and Greece in order to facilitate the dispatch of “trainers” to that landlocked country. The UK can either follow suit in some way or redouble its influence in the Baltic States and especially Poland, possibly culminating in its troops conventionally intervening in Ukraine through the last-mentioned while France’s enter from Romania-Moldova.

The possibility of France and the UK either receiving the US’ approval for this intervention or doing it unilaterally as a “coalition of the willing” in order to make it a fait accompli could pressure Germany to participate in order to not be left out and made to “look weak”. Its Air Force officers already claimed in the earlier cited leaked recording that the missiles that those two sent to Ukraine pressures them to do the same with the Taurus so the precedent is established for why they might think the same in that case.

While it initially seems counterintuitive that France and the UK might want Germany to participate in this intervention when one of the reasons why they’re arguably plotting it is to decelerate its newly resumed superpower trajectory, there’s actually a clear logic to these calculations. Deeper German involvement in this conflict could further reduce the already dismal chances of it entering into a rapprochement with Russia after everything ends like many hawks still fear is possible and desperately want to prevent.

It could also become overextended in some sense and thus lose the military-strategic grip that it’s recently obtained, thus creating openings for France and the UK to chip away at Germany’s influence in the Balkans and Baltics respectively in order to keep their historical rival’s rise somewhat in check. Berlin might not bite the bait though since Scholz has yet to even approve sending Taurus missiles there with the clandestine troop deployment that they require so there’s a chance that he’ll stick to his guns.

If Germany formally stays out of the fray while France and the UK embroil themselves in it with disastrous or at least unimpressive results, including those that see their Baltic and Polish “junior partners” exploited as cannon fodder, then Germany might actually benefit a lot. Those two’s approach would be discredited, the possibility of which might be why the US thus far appears reluctant to approve their “coalition of the willing”, and by contrast lend credence to Germany’s approach.

“Fortress Europe” might then be built at an even faster pace in the aftermath of this conflict as the only two possibly countervailing forces to keep its influence in check would have discredited themselves. On the other hand, a partially “successful” conventional Franco-British intervention in Ukraine could discredit Germany if it literally ends up saving Ukraine from collapse and stopping the Russian steamroller. In that event, “Fortress Europe” might be built a lot differently than Germany planned.

Instead of the EU as a whole functioning as a pro-US German-led proxy bloc in the New Cold War, Berlin would have to accept London’s “sphere of influence” in the Baltics and a condominium with it in Poland while Paris would have its own “sphere” in the Balkans. Rather than relying on one country to rule the EU by proxy, the US would depend on three, with the advantage being that there’d be less of a chance that Germany would ever “go rogue” but at the detriment of this being more complex to manage.

It remains to be seen whether France and the UK will go through with this Ukrainian power play right under Germany’s nose, but there’s little doubt that this is what they’re planning. The US could possibly disapprove, however, and they might then lack the confidence to conventionally intervene through their own “coalition of the willing”. There’s also the chance that the US takes the lead in this respect if Russia achieves a breakthrough before NATO’s largest drills in three decades end in June.

It would be easier for the US to do this on its own with everyone else following it than to depend on others, but this could risk World War III by miscalculation much more than if France and the UK conventionally intervene while the US “Leads From Behind”, hence the latter scenario’s appeal. In any case, the top takeaway from this analysis is that there are indeed plans for a conventional Western intervention in Ukraine, but they’ve yet to fully form and their execution can’t be taken for granted.

https://www.zerohedge.com/geopolitical/are-france-uk-plotting-ukrainian-power-play-right-under-germanys-nose