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Tuesday, September 17, 2024

KUDLOW: Right now, with the world on fire, we have neither peace nor strength

 The U.S. shrugs as World War III approaches and that's the subject of the riff. Check out the important WSJ op-ed by respected foreign policy analyst Walter Russell Mead, entitled: "U.S. Shrugs as World War III Approaches." On the campaign trail, Donald Trump often talks about the threat of World War III. I hope as many voters as possible listen carefully to what he's saying. Walter Russell Mead talks about a new alliance between China, Russia, and Iran. I would add North Korea, as well. 

Professor Mead cites reports that Ukraine is "bleeding out" – and then other reports suggest over a million people have been killed on both sides of the Russia-Ukraine war. Then China threatens Taiwan on a daily basis and is trying to drive Philippine forces from various islands that Beijing illegitimately claims. 

Russia may be helping Iran cross the finish line in its race for nuclear weapons. Trump often cites how the Biden-Harris administration has so relaxed the sanctions he put in place on Iranian oil production, that Iran is an economic and financial powerhouse, having been virtually work just four years ago and Iran's biggest oil customer is China, and China has also become Russia's biggest oil customer. 

In both cases, in violation of sanctions the Biden-Harris administration refuses to enforce. U.S. Congressional leaders, along with European Union leaders, would like to seize Russian central bank assets, possibly as much as $300 billion worth, to put real pressure on Putin, but Biden-Harris have never really pushed hard on the issue. 

In a word, the current administration has practiced a foreign policy of appeasement, not deterrence, all around the world. Even today, as Israel cleverly sabotaged thousands of Hezbollah cell phone pagers, wounding thousands of terrorists, Biden-Harris still won't unequivocally stand up for Israel. 

Professor Mead cites an alarming report by the bipartisan Commission on the National Defense Strategy, which paints a devastating picture of political failure, strategic inadequacy, and growing American weakness -- in a time of rapidly increasing danger. The Commission says the U.S. faces the most serious and most challenging threats since 1945, including the risk of near-term major war. 

However, few people in the corridors of power in Washington DC seem to be paying attention to this gloomy report and the Commission finds that the U.S. military lacks the capabilities to prevail in combat. Real defense spending adjusted for inflation has been declining during the Biden-Harris years. 

As a share of GDP, defense spending is projected to decline under 3%. During the Reagan years, when The Gipper was crusading against Soviet communism, he boosted defense spending to roughly 6.5% of GDP. Politicians of all stripes often talk about "peace through strength," but right now, with the world on fire, we have neither peace, nor strength. That's the riff. 

https://www.foxbusiness.com/media/larry-kudlow-right-now-world-fire-we-have-neither-peace-nor-strength

Hoth Promising Preclinical Results for Alzheimer's Drug HT-ALZ

 Early observations suggest that the vehicle-treated Alzheimer's mice exhibit a larger population of reactive astrocytes, while the HT-ALZ treated groups show fewer reactive astrocytes, pointing to a potential breakthrough in the treatment of Alzheimer's.

Hoth Therapeutics, Inc. (NASDAQ: HOTH), a biopharmaceutical company focused on developing innovative treatments for unmet medical needs, today announced encouraging preclinical results for its investigational Alzheimer's drug, HT-ALZ. In a recent study using Alzheimer's model mice treated with varying doses of HT-ALZ, significant reductions in astrocyte activity were observed in key areas of the brain, suggesting a potential link between reduced reactive astrocytes, and improved cognitive function.

In the study, astrocyte staining was used to evaluate the impact of different doses of aprepitant on the hippocampus and cortex. The data showed a notable decrease in the percentage of area covered by astrocytes in the hippocampus at both 20 mg and 40 mg dose levels, compared to the vehicle- treated group. A similar trend was observed in the cortex. These reductions in reactive astrocytes corresponded with enhanced cognitive performance in the same dose groups, further indicating that aprepitant's therapeutic benefit may be tied to its impact on astrocytic activity.

Reactive astrocytes, which are typically larger than normal astrocytes, play a role in the progression of neurodegenerative diseases like Alzheimer's. Hoth Therapeutics is currently conducting a secondary analysis to determine whether the size or total number of astrocytes is changing as a result of treatment. Early observations suggest that the vehicle-treated Alzheimer's mice exhibit a larger population of reactive astrocytes, while the HT-ALZ treated groups show fewer reactive astrocytes, pointing to a potential breakthrough in the treatment of Alzheimer's.

https://www.prnewswire.com/news-releases/hoth-therapeutics-announces-promising-preclinical-results-for-alzheimers-drug-ht-alz-302249998.html

Teladoc target upped to $10 from $8 by Jefferies

 Rating remains Hold

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

LivaNova upped to Outperform from Neutral by Baird

 Target to $66 from $55

https://finviz.com/quote.ashx?t=LIVN&p=d

Biden won't block potential port strikes on East and Gulf Coast

 President Biden doesn't plan to intervene to prevent a strike at ports on the East Coast and in the Gulf of Mexico if dockworkers fail to negotiate a new labor contract before a deadline on Oct. 1, an administration official said Tuesday.

The International Longshoremen's Association (ILA), which is negotiating on behalf of 45,000 dockworkers at three dozen U.S. ports from Maine to Texas that collectively handle about half of the country's seaborne imports, has warned its members are prepared to stop work if they don't have a new contract by the deadline.

The ILA's current contract with the United States Maritime Alliance (USMX) expires on Sept. 30, setting up a potential strike beginning next month if the two sides don't reach an agreement.

Presidents have the authority to intervene in labor disputes that pose a threat to national security or safety under a law known as the Taft-Hartley Act, which lets the president impose an 80-day cooling-off period under which workers go back to work while negotiations continue. However, the Biden administration has signaled it doesn't plan to use that authority if the longshoremen's union goes on strike at East and Gulf Coast ports.

"We support collective bargaining and believe it’s the best way for American workers and employers to come to agreement," a Biden administration official told FOX Business. "That’s why we encourage all parties to remain at the bargaining table and negotiate in good faith." 

"Since taking office, the Biden-Harris Administration has developed a comprehensive whole-of-government approach to monitor and mitigate potential supply chain impacts, from severe weather to transport service interruptions to this spring’s Key Bridge collapse in Baltimore. We’ve never invoked Taft-Hartley to break a strike and are not considering doing so now," the official added.

The signal comes after the National Retail Federation on Tuesday led a group of 177 trade organizations representing retailers, manufacturers, farmers, automakers and truckers in calling for Biden to help reach a deal.


Last summer, the Biden administration sent acting Labor Secretary Julie Su to help broker a deal in a similar labor dispute involving the West Coast longshoremen's union and seaport employers after unions disrupted operations at some busy California ports. 

In that case, the two sides agreed to extend negotiations beyond their July 1, 2022, deadline because the COVID pandemic-related cargo boom was clogging critical supply chains and helping fuel inflation. They eventually reached a deal in June 2023 that boosted pay by 32% and was viewed as a template for labor negotiations at ports on the East and Gulf Coasts.

Negotiations between the ILA and USMX are at an impasse over a range of issues, including wages and benefits, as well as a cap on the automation of port terminals.

An analysis by J.P. Morgan found that the cost of a strike could run upwards of $5 billion a day, which could ramp up the pressure on Biden to intervene if the work stoppage goes ahead.

John Janson, vice president of global supply chain for SanMar, told PPAI that a strike at the East and Gulf Coast ports "would have a catastrophic effect on the overall U.S. economy" and noted that it's too late to shift imports to West Coast ports with a potential strike just weeks away.

Christian Roeloffs, co-founder and CEO of Container xChange, said in a report by gCaptain that because of the possibility of strikes at East Coast and Gulf Coast ports, shipping companies should "anticipate short-term spikes in demand for leased containers as retailers rush to secure goods ahead of potential disruptions, particularly for seasonal inventory and industrial shipments."

Roeloffs also noted in the report that U.S. retailers have strong inventories after pulling forward orders to earlier dates that could mitigate some risks related to a potential strike because the "stockpile will act as an essential buffer, mitigating the risk of container rates spiking dramatically due to the strikes."

https://www.foxbusiness.com/politics/biden-wont-block-potential-port-strikes-east-gulf-coast

Capricor, Nippon Shinyaku Link for European Expansion and Commercialization of Duchenne Therapy

 Capricor to Receive $15 Million Equity Investment at a 20% Premium, as well as $20 Million Upfront Payment upon Signing Definitive Agreement with up to $715 Million in Potential Milestones and a Double-Digit Percentage of Product Revenue-

-Upfront Payment and Investment Extends Cash Runway into 2026-

-Potential Milestones from Combined Distribution Agreements Now Total approximately $1.5 Billion-

-Capricor Preparing to Meet with EMA to Discuss European Expansion for Deramiocel-

https://www.globenewswire.com/news-release/2024/09/17/2947526/0/en/Capricor-Therapeutics-Signs-Binding-Term-Sheet-with-Nippon-Shinyaku-for-European-Expansion-and-Commercialization-of-Deramiocel-for-the-Treatment-of-Duchenne-Muscular-Dystrophy.html

AC Immune 2nd Milestone Payment in Phase 2b Trial in Preclinical Alzheimer’s

 

  • Prescreening rate of Phase 2b ReTain trial triggers clinical development milestone payment in September
  • Potentially registrational trial is targeting enrollment of approximately 500 participants with pre-symptomatic AD
  • FDA Fast Track designation granted in July for ACI-35.030 (now “JNJ-2056”) for AD

AC Immune SA (NASDAQ: ACIU), a clinical-stage biopharmaceutical company pioneering precision therapeutics for neurodegenerative diseases, today announced that it will receive the second ReTain-related milestone payment (CHF 24.6 million) under its agreement with Janssen Pharmaceuticals, Inc. (Janssen), a Johnson & Johnson company.

https://www.globenewswire.com/news-release/2024/09/17/2947287/0/en/AC-Immune-Receives-Second-Milestone-Payment-Following-Progress-in-Phase-2b-ReTain-Trial-of-ACI-35-030-in-Preclinical-Alzheimer-s-Disease.html