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Tuesday, June 4, 2024

ASCO24: BMS Eyes First-Line Treatment in Liver Cancer for Opdivo-Yervoy Combo

 Bristol Myers Squibbs’ combination approach could become a first-line option for unresectable liver cancer based on Phase III Opdivo-Yervoy data shared Tuesday at the American Society of Clinical Oncology’s annual meeting. 

In the CheckMate -9DW trial, the immunotherapy duo increased median overall survival by three months—23.7 months compared to 20.6 months for patients on Eisai’s Lenvima or Bayer’s Nexavar—in patients with unresectable hepatocellular carcinoma (HCC), a 21% improvement on risk of death. Objective response rate for those taking Opdivo plus Yervoy was 36% compared to 13% for those on the kinase inhibitors, with the median duration of response at 30.4 months and 12.9 months, respectively. 

“The combination of Opdivo plus Yervoy has been an established second-line treatment for patients with advanced HCC and, with these results, we can demonstrate that Opdivo plus Yervoy significantly increases survival and other key efficacy measures in the first-line setting for patients with advanced disease,” Dana Walker, vice president of BMS’ gastro cancer programs, said in a statement. 

In terms of safety, the Opdivo-Yervoy combo was consistent with previously reported data and was manageable with established protocols, according to BMS. Treatment-related adverse events (TRAEs) of any grade were reported in 84% of patients treated with Opdivo-Yervoy and 91% in patients with Lenvima or Nexava. Grade 3/4 TRAEs occurred in 41% and 42% of patients, respectively. 

Opdivo plus Yervoy is already approved as a first-line treatment in certain types of melanomas and non-small cell lung cancers. 

If approved, the move positions BMS to compete with other combo treatments on the market for liver cancer. Roche’s Tecentriq plus Avastin and AstraZeneca’s Infinzi plus Imjudo both earned their approvals for first line indication based on results from Phase III trials that pitted them against Nexavar.  

AstraZeneca’s anti-CTLA-4 antibody with its checkpoint inhibitor reduced the risk of death compared to Nexavar by 22%. Roche’s combination showed a 42% death risk reduction. A post hoc analysis revealed median overall survival for patients on Tecentriq plus Avastin at 19.2 months versus 13.4 months for Nexavar.  

After three years, 38% of patients on BMS’ Opdivo and Yervoy compared to 24% on Nexavar in the CheckMate –9DW trial. 

BMS said it will be discussing the Phase III data with global health authorities to bring the combination treatment to more patients. 

https://www.biospace.com/article/asco24-bms-eyes-first-line-treatment-in-liver-cancer-for-opdivo-yervoy-combo-on-positive-phase-iii-data-/

Massachusetts Regulator Probes 'Roaring Kitty's' GameStop Trades Around Pumps

 Meme stock guru Keith Gill went from sticking it to Wall Street hedge funds shorting GameStop to front-running retail, which he knows will unleash buying power with every social media post. A report from The Wall Street Journal on Monday explained that ETrade, the online brokerage Gill trades from, has had enough of his stock-pumping shenanigans. Now, the Massachusetts securities regulator is getting involved as unwanted attention swarms the social media stonk influencer, also known as "Roaring Kitty." 

Reuters reports that Massachusetts Secretary of State Bill Galvin, the state's top securities regulator, is investigating Gill's stock trading activities. 

Gill resurfaced early in May with posts on various social media platforms, including X, which triggered a short squeeze on GME. The multi-day pump, trapping many retail traders at the top, ended with a dump. Around the time of the first pump, GameStop executives slammed the market with an offering of 45 million shares, allowing the company to raise $933 million. This was a major red flag. 

The beginning of the second pump first surfaced on Sunday evening when Gill posted an image of his ETrade account, showing GME stock valued at $115.7 million, $65.7 million in GME short-term options, and $29 million in cash. 

Gill's GameStop June 21 call options at a strike price of $20 show the retail trader's time horizon was relatively short - just enough time to capitalize on a pump.

The Massachusetts securities regulator had no other information about the investigation. This shows that Gill has attracted unwanted attention to his stock-pumping.

Shares of GME are lower by 5.5% around lunchtime, trading around the midpoint of the $26 handle. Most of the second pump gains have been evaporated. 

"Roaring Kitty went from being one of the little guys sticking it to Wall Street… …to front running multi million dollar trades that he knows his retail army will pump up by 80-100% after decides to tweet," X user itquidity said. 

X user The Real Fly said, "Roaring Kitty is showing equity of nearly $200m in $GME. He is truly exceptional. My guess he parlayed the $45m he made from last gambit into the stock before the memes from $12-15, kicked it out over $50 and made 4x min on his equity. He's likely sitting on $300m and this is his dip buy basis." 

"What made Keith Gill aka Kitty interesting initially was his authenticity. He shared a detailed investment thesis and put his money where his mouth was, which combined with a high short interest and a restless country and boom.. investing history.   This time it feels different. Now, with $GME, he posts with a large account and a significant near-term option position, appearing more like manipulation without a solid thesis. Considering the stock is now 2,000% higher than his initial video almost 4 years ago.  We believe someone is backing Gill—there's no way he made this size trade alone.   His reported finances don't support t his trade.  Investors will see through this roaring Icarus," Citron Research wrote on X. 

Meanwhile... 

Some on X say...

Ecstasy as a PTSD treatment gets thumbs down from FDA advisers

 Landmark meeting weighs MDMA-assisted therapy using the party drug, also known as ecstasy or molly, as a treatment for post-traumatic stress

A panel of independent advisers to the Food and Drug Administration on Tuesday cast doubt on the benefits of MDMA-assisted therapy for post-traumatic stress disorder, marking a pivotal moment for the booming field of psychedelic medicine.

The effort by privately held Lykos Therapeutics to win FDA approval for its MDMA therapy has triggered a barrage of questions from regulators, psychiatrists and independent researchers about clinical trials of the therapy and the reliability of data on the treatment's safety and efficacy.

One key issue: Due to the intense effects of MDMA, trial participants and researchers may have a strong sense of which patients received the active drug versus the placebo, opening the door to bias that could influence the trial outcomes, experts say.

In votes taken late Tuesday, the majority of the FDA advisory panel's members said the available data do not show the drug is effective in patients with PTSD and that the benefits of the treatment - even with a proposed FDA drug-safety program in place - would not outweigh its risks.

The FDA does not have to follow advisory-committee recommendations, but it often does. The agency's decision on the application is expected by mid-August.

MDMA is a stimulant and hallucinogen, widely known as a party drug called ecstasy or molly. But like some other psychedelic drugs, MDMA is also increasingly recognized for its therapeutic potential. The FDA in February granted priority review to Lykos's new drug application for MDMA in combination with talk therapy for treatment of PTSD.

The meeting Tuesday comes amid a surge in interest in - and debate over - psychedelic drugs as potential mental-health treatments. Ketamine, an anesthetic, is increasingly being used as a mental-health treatment, although it has not been approved for that use by the FDA. The agency also recently granted a breakthrough-therapy designation to Mind Medicine Inc.'s (MNMD) LSD-based treatment for generalized anxiety disorder. And Compass Pathways PLC (CMPS) is studying the hallucinogen psilocybin as a treatment for depression and other conditions.

Lykos, previously known as MAPS Public Benefit Corp., said in January that it had raised more than $100 million in an oversubscribed Series A financing round.

But questions about the value of the MDMA-assisted therapy for PTSD intensified in the weeks leading up to Tuesday's meeting. The Institute for Clinical and Economic Review, an independent, nonprofit research group that studies drugs' effectiveness and value, said in mid-May that there was not enough evidence to assess the risk-benefit tradeoffs of the MDMA-assisted therapy and that it could not evaluate the extent to which bias influenced the reporting of benefits in the clinical trials.

"Because of the effects of MDMA, the trials were, essentially, unblinded with nearly all patients who received MDMA correctly identifying that they were in the MDMA arm of the trials," ICER said in its report. "This would always raise concerns about bias, but these concerns are particularly heightened as we heard from multiple experts about the very strong prior beliefs of those involved in the trials (as investigators, therapists, and patients) about the benefits" of MDMA-assisted therapy, ICER wrote.

"We stand by the quality and integrity of our research and development program," Lykos CEO Amy Emerson said in a statement. "We are confident in the FDA's robust evaluation process, and we will continue to collaborate and answer any remaining questions" from the agency in advance of the regulatory decision, Emerson said.

Lykos also said in a briefing document prepared for the FDA meeting that it had taken several steps to minimize the impact of "functional unblinding," or patients and researchers potentially knowing who received MDMA versus a placebo. Among other measures, independent raters' interviews with the trial participants were structured to avoid discussion of participants' experience during the treatment period, Lykos said.

The FDA also raised questions about the treatment's safety in a briefing document prepared for Tuesday's meeting, noting significant increases in blood pressure and pulse among some trial participants as well as the potential for abuse of MDMA. If MDMA is approved, a drug-safety program called a Risk Evaluation and Mitigation Strategy will be necessary to ensure the benefits outweigh the risks of serious harm, the FDA said.

If Lykos wins FDA approval, Emerson said in the statement, "we will be planning for a responsible introduction of this new treatment into the healthcare system with careful consideration of its potential benefits and risks, in accordance with established medical guidelines, protocols, and quality standards."

While there is debate about Lykos's bid for regulatory approval of MDMA-assisted therapy, there's broad agreement about the need for new treatments for PTSD, which affects about 13 million people in the U.S. Selective serotonin reuptake inhibitors are often used to treat PTSD, but patient response rates rarely exceed 60%, and fewer than 20% to 30% of patients achieve full remission, the FDA said in its briefing document.

https://www.morningstar.com/news/marketwatch/20240604759/ecstasy-as-a-ptsd-treatment-gets-thumbs-down-from-fda-advisers

In National IQ Test, Biden Does 'We Gotta Secure The Border!' Routine

 Update (1443ET): President Ron Burgundy read what is perhaps the most audacious attempt to trick Americans into believing the exact opposite of reality - namely, that he didn't cause the border crisis, Republicans are the reason it isn't fixed, and he's here to save the day.

A national IQ test, if you will.

And he's off! To some kind of a start...


Oh...

Former President Trump responded to this attempted sleight of hand, saying that "The truth is that Crooked Joe Biden’s Executive Order won’t stop the invasion…it will actually make the invasion worse."

*  *  *

After shredding Donald Trump's 'xenophobic' Executive Orders on border security his first day in office more than three years ago, resulting in what some estimate to be upwards of 20 million illegal migrants pouring into the United States (which Trump plans to deport), President Joe Biden is quietly signing an executive order on Tuesday aimed at slowing migrant crossings.

Joe BidenPhotographer: Hannah Beier/Bloomberg

As we noted on Friday, the EO would slash asylum claims by roughly two-thirds of where they stand today - and would cap the number of daily encounters at an average of 2,500 crossings per day (or 912k per year), however Biden would allow mass asylum claims to resume once border encounters fall to around 1,500 per day.

US Border Patrol recorded approximately 4,300 daily encounters in April - which of course doesn't include 'gotaways' - those who enter the US without notice.

The move comes three months after the White House said Biden was no longer considering using executive action to secure the border.

According to Bloomberg, lawmakers and others have been invited to a Tuesday afternoon event at the White House.

The order is Biden’s most aggressive move yet to address the crisis on the US-Mexico border, which has seen record levels of migrants and taxed communities across the country struggling to deal with the influx of new arrivals. A bipartisan Senate plan that would have given Biden similar powers was blocked by Republicans at Trump’s behest earlier this year, denying the president a political win and prompting him to act unilaterally.

Tuesday’s order is politically risky. It will invite criticism from Biden’s left flank, which has blasted moves to ramp up deportations as an inhumane approach to the crisis. That has the potential to stymie his efforts to shore up an electoral coalition already riven by divisions over his handling of the Israel-Hamas war and overarching concerns over his age and fitness to serve a second term. -Bloomberg

The Biden administration's move underscores how the administration has been compelled to act just months before the 2024 US election - as it's become a centerpiece issue for Republicans on the campaign trail. Donald Trump has been constantly hammering Biden over the border as polls continue to show that voters think the border and immigration are critical issues.

The Executive Order is also timed to reflect an effort to deter a seasonal increase in crossings that typically occurs each summer and early fall (right before the election), and comes as Mexico welcomes a new president, Claudia Sheinbaum, who was elected on Sunday. She doesn't take office until Oct. 1, and it's unknown what actions she will take on the border situation.

In recent weeks the Biden administration has taken other steps to tighten immigration rules. Last month, they proposed a rule that would allow the US to expedite the expulsion of certain undocumented migrants trying to claim asylum.

According to the report, Biden will use Section 212(f) of the Immigration and Nationality Act - which Trump invoked - which are anticipated to invite legal challenges.

House Speaker Mike Johnson told Fox News Sunday that the move is "too little too late," adding "The only reason he’s doing that is because the polls say that it’s the biggest issue in America."

https://www.zerohedge.com/political/biden-finally-sign-executive-order-limiting-border-crossings

Pro-Palestinian Encampment Erected At LA City Hall; Protesters To Surround White House

Get ready for Pro-Palestinian demonstrations to spill over from universities and colleges onto city streets this summer.

Just days ago, we were the first to report that the ANSWER (Act Now to Stop War and End Racism) group is planning to surround the White House this Saturday. Now, new reports indicate that a pro-Palestinian protester encampment was erected outside the Los Angeles City Hall in the overnight hours.

Let's begin with the news from the local media outlet KABC:

Pro-Palestinian protesters set up an encampment Monday night in front of Los Angeles City Hall.

About 21 tents with about 50 protesters were seen lined up on the sidewalks outside the building at Main Street and First Street

AIR7 HD was above city hall and captured several tents with Palestinian flags and phrases such as "Free Palestine" and "Free Gaza."

At 0124 local time, the Los Angeles Police Department wrote on X, "Central Bureau is monitoring a non-permitted demonstration occurring in the Civic Center portion of DTLA.  Please use caution in the area due to people in the roadway." 

Here are scenes from the ground:

We suspect there is a much larger plan for pro-Palestinian protesters to erect encampments outside numerous city halls in major metro areas. In just days, the ANSWER will surround the White House. 

Photo: Craig Birchfield

On flyers, ANSWER wrote, "Get on a bus to DC" and "Surround the White House for Palestine." 

"June 8 marks 8 months of US-Israeli genocide of the Palestinian people, and marks the 54th anniversary of the occupation of Gaza. A month ago, Biden said that the invasion of Rafah was a red line. But now, the invasion of Rafah has continued for weeks, has expanded to the entire Gaza Strip, Biden's red line is nowhere to be seen," ANSWER wrote on its website

The spillover from schools to city streets could be imminent, adding another challenge for the Biden administration. 

https://www.zerohedge.com/political/pro-palestinian-encampment-erected-la-city-hall-protests-surround-white-house

Dems Want You To Check Your Brain At The Door

 by Frank Miele via RealClearPolitics,

“Do you accept the verdict of the New York jury that found Donald Trump guilty on all 34 counts?”

That will be the question asked of every Republican from now until the presidential election in November, and if Republicans don’t know how to answer, they will look like idiots, which is exactly what the left-leaning media wants.

You can’t just say yes because the implied premise of the question is that the verdict was fair, and that could not be further from the truth. But you can’t just say no either, because the verdict is a fact, just like the O.J. verdict. It exists, and it has to be explained.

Of course, what the media inquisitors will try to do is paint Trump supporters into a corner. If you say you don’t support the verdict, you will be “justice deniers,” in the term smartly coined by talk-show host Dan Bongino last week. But Republicans can’t let that be the final word.

They have to explain that when you say you are accepting the verdict, it just means you are accepting that the verdict was the inevitable result of a corrupt New York legal system. Anyone who represents Trump or the MAGA movement has to be fully in command of the facts and be prepared to explain them. Start with the assignment of Judge Juan Merchan to the case and ask why this is the third Trump-related case he has been assigned to. Talk about the judge’s refusal to recuse himself despite his status as a Joe Biden donor and his daughter’s status as a multi-million dollar fund-raiser for Democrats.

Then demand answers for the multiple reversible errors Merchan committed in creating the court record – the salacious and irrelevant testimony of porn star Stormy Daniels, the refusal to allow Trump to present an expert witness who could explain federal election law to the jury and why Trump didn’t violate it. How about the unconstitutional decision to withhold from Trump and his attorneys the exact nature of the underlying crime, which turned misdemeanor charges into felonies, and Merchan’s claim that the jury did not even have to be unanimous in identifying such an underlying crime?

Of course, CNN, MSNBC, and the Sunday morning news shows won’t raise any of those troubling issues, so when a Trump supporter tries to explain the difference between a fair trial and a show trial, they will be shouted down by their interviewers.

This is not a new playbook. We’ve been watching the same kind of “gotcha” journalism for months as Republicans have been grilled by reporters in an attempt to paint them as “election deniers.”

“Will you accept the election results of 2024 no matter what happens?”

That is the question NBC’s Kristen Welker posed to Sen. Marco Rubio during his recent appearance on “Meet the Press,” but it is nearly identical to the question being asked to every supporter of Donald Trump for the past year.

Again, anyone who answers the question affirmatively is an idiot, which is the only kind of Republican who the media celebrates. No one with a brain would pledge to accept the results of an election to be held five months from now “no matter what,” but that is exactly the commitment that President Biden and his media allies want to extract from Republicans.

Fortunately, thanks to following the example of former President Trump, more and more Republicans are learning not to get bamboozled by such questions that require you to check your brain at the door.

Sen. Rubio deflected the question by telling Welker she should be asking Democrats the same question, pointing out that Biden’s party has questioned the election of every Republican president since 2000.

But it’s not necessary to deflect; you just need to answer the question the way a smart person would answer any similar question:

No, I’m not going to accept the results no matter what. I’m going to accept them when it is obvious that the election was conducted in a free and fair manner. Do you really want me to pledge to accept the results of a rigged election? Or are you really so naive as to believe that neither political party would ever attempt to rig an election?

You have to respond directly and forcefully because what has become obvious, both before and after the verdict, is that Democrats (whether in the form of left-wing media apparatchiks or actual politicians) have made an art form out of humiliating weak Republicans. Whether it’s about rigged elections or rigged trials, the media is going to try to gaslight the public and pretend that anyone who questions the media narrative is either a justice denier or an election denier.

Fortunately, the people of the United States have been paying attention. They saw how Democrats tried to destroy President Trump with the Russian collusion hoax. They saw how Trump was impeached for telling the truth about Joe Biden’s corruption in Ukraine. They saw how Trump was impeached for the Jan. 6 riot even though Trump was the only one who tried to get National Guard troops assigned to protect the Capitol.

This latest conviction on 34 counts is no different. The connecting thread through all of these anti-Trump operations and the other three indictments still pending is that they were all manufactured by Democrats and promoted by the left-wing media. It is now up to Republicans to fight back. Not with violence. With votes. The media may control the narrative, but they don’t control the voters. 

“Do you accept the verdict of the New York jury that found Donald Trump guilty on all 34 counts?”

Hell no.

https://www.zerohedge.com/political/dems-want-you-check-your-brain-door