Reduces workforce by roughly 40%; expects annualized cost savings of more than $35 million
Discontinues development of therapeutics division and commences strategic alternatives process for all in-house therapeutic programs
Monday, November 11, 2024
Arcturus OKd to Begin H5N1 Pandemic Flu Vaccine Clinical Trial
Arcturus Therapeutics Holdings Inc. (the “Company”, “Arcturus”, Nasdaq: ARCT), a commercial messenger RNA medicines company focused on the development of infectious disease vaccines and opportunities within liver and respiratory rare diseases, today announced that the U.S. Food and Drug Administration (FDA) has issued a “Study Can Proceed” notification for the Company’s Investigational New Drug (IND) application, ARCT-2304, a self-amplifying mRNA (sa-mRNA) vaccine candidate for active immunization to prevent pandemic influenza disease caused by H5N1 virus. The clinical study is funded by Biomedical Advanced Research and Development Authority (BARDA) and designed to enroll approximately 200 healthy adults in the United States.
In Short, These Are Dangerous Times...
Mysteries Revealed
"People in the media are aware of how illegitimately they've done their jobs that they think they're on the verge of being locked up"
- Scott Adams
You must admit, it’s a little spooky how quickly and rigorously Mr. Trump intends to deconstruct those parts of the government at war with the people:
clean out “rogue bureaucrats,”
firehose the malignant agencies,
release and expose their document trails on spying, censorship, lawfare, and abuse-of-power.
The consequence would be the return of consequence in our national life.
It’s been absent for so long you can hardly imagine its power to get people’s minds right.
There are already reports of frenzy among the culpable DOJ lawyers, and FBI Director Wray is set to resign before Mr. Trump can fire him. Attorney General Merrick Garland has gone radio-silent for his own good since Election Day. Expect many abiding mysteries to get unraveled, such as exactly how many federal agents did work the crowd around the Capitol on J-6, 2021 — which Mr. Wray has pretended to not be able to discuss “due to ongoing investigations.” Expect to learn more about the pipe-bomb caper at the DNC HQ a few blocks away that same day. Prepare to be amazed at how deeply criminal these schemes were. You must wonder if the document-shredding party is already underway, despite calls to preserve all the emails, memos, and texts.
Then there are the poisoned realms of the intel blob located at CIA, DHS, State, DOD, and elsewhere being subject to inquiry and overhaul.
Think: John Brennan, James Clapper, Bill Barr, Michael Atkinson, Mayorkas, Judge Boasberg, Mary McCord, Col. Vindman, Senator Warner, Avril Haines, Victoria Nuland, Samantha Power, Gina Haspel, Marie Yovanovitch, Jen Easterly, all their deputies, and many more unknown to the public. Some of these names may yet seem obscure to you. They were all neck-deep in what looks a lot like sedition, treason, real conspiracies, not theories. Even state officials such as New York AG Letitia James, Manhattan DA Alvin Bragg, and Fulton County, GA, DA Fani Willis, would be subject to federal charges under 18USC Section 242: willful deprivation of constitutional rights acting under color of law. That is exactly what the Trump lawfare cases amounted to.
And then, of course, there are the long-running rumors of pedophilia and human trafficking networks among the elite, the Jeffrey Epstein list and the P. Diddy list. If these things exist, and they are released, history would shudder.
Think: the Clinton Foundation.
These people are looking ahead 70 days with visions of shoes dropping and hammers falling. If the mysteries are revealed, it’s hard to imagine that criminal proceedings would not be far behind. You can also imagine that the motivation across a broad and powerful elite class runs white-hot to stop Mr. Trump from entering the Oval Office. So, these days ahead will be fraught with threats, schemes, plots, ploys, and deceptions. The paranoia must be out of this world among people who still have the resources and hold the levers-of-power needed to undertake nefarious deeds.
There is chatter about “a coup” being considered among as-yet-unnamed parties in the Pentagon to prevent Mr. Trump from rising back into power. It’s unclear how that would work among our high command of transsexual generals and admirals and their hapless DEI adjutants. The strata of colonels benath them might have different ideas. But it could be the starting gun for actual civil war. We would find out what the Second Amendment is all about. “Joe Biden” likes to say that the citizenry can’t go up against his F-16 war-planes, but he evidently does not understand how much mischief can be made with small arms — rifles, grenades, rockets, drones — despite examples of it all over the world lately. That is hypothetical for now, of course.
In short, these are dangerous times.
Mr. Trump would be advised to stay out of airplanes until inauguration day and to be extra-careful who he puts himself around, especially in public. You also must expect more lawfare of the most extreme sort going forward to January, every possible stone unturned to find procedural tricks to prevent certification of the election. Do you think Norm Eisen, Marc Elias, and Andrew Weissmann just laid back and watched football this weekend? They are probably quarterbacking efforts to finagle ballots for the remaining contested seats in Congress, in order to game-out Rep. Jamie Raskin’s well-publicized block-Trump play this coming Jan. 6.
These are the darkest and most explosive parts of Mr. Trump’s admirably deep to-do list for fixing the many things that have stopped working in American life. The simplest picture of our current predicament, and why people voted as they did, is of “things going in the wrong direction,” Well, what direction is that, exactly? The tyranny of giant forces over our little lives and communities. It’s a leviathan government seeking to invade and dominate everything — and to do it with maximum malice when resisted. It has left American men and women mentally disordered, demoralized, stolen their sense of purpose, deprived them of roles in society that provide meaning, alienated them from each other, and from their history. And it has left them, as Robert Kennedy points out, catastrophically unhealthy.
All of which is to say, we have more to clean up and reorganize than just our government. We’re going to get it done, you may be sure, even if the zeitgeist has to drag us kicking and screaming out of the malaise we’re stuck in. All of this points to some very different new arrangements to be made in our everyday life, beginning with the realization that the era of getting something-for-nothing is over.
* * *
Resistance 2.0: Why The Campaign Against Trump Is Different This Time
The single most common principle of recovery programs is that the first step is to admit that you have a problem.
That first step continues to elude the politicians and pundits who unsuccessfully pushed lawfare and panic politics for years.
That includes prosecutors like New York Attorney General Letitia James and politicians like Illinois Gov. J.B. Pritzker, who affirmed this week that they will be redoubling, not reconsidering, their past positions.
For its part, The Washington Post quickly posted an editorial titled “The second resistance to Trump must start now.” They may, however, find the resistance more challenging both politically and legally this time around.
It is important to note at the outset that there is no reason Democratic activists should abandon their values just because they lost this election. Our system is strengthened by passionate and active advocacy.
Rather, it is the collective fury and delirium of the post-election protests that was so disconcerting. Pundits lashed out at the majority of voters, insisting that the election established that half of the nation is composed of racists, misogynists or domination addicts who long to submit to tyranny.
Others blamed free speech and the fact that social media allows “disinformation” to be read by ignorant voters. In other words, the problem could not possibly be themselves. It was, rather, the public, which refused to listen.
That does not bode well for the Democratic Party. As someone raised in a liberal politically active family in Chicago, I had hoped for greater introspection after this election blowout.
Ordinarily, recovery can begin with “a terrible experience” when someone hits rock bottom.
After a crushing electoral defeat and the loss of the White House and likely both houses of Congress, one would think that Democrats would be ready for that first step to recovery. However, those hoping for a new leaf on the left do not understand the true addictive hold of rage.
In my recent book, “The Indispensable Right: Free Speech in an Age of Rage,” I explore rage and our long history of rage politics. There is a certain release that comes with rage in allowing people to do and say things that you would never do or say. People rarely admit it, but they like it. It is the ultimate high produced by the lowest form of political discourse.
Over the course of the last eight years, the U.S. has become a nation of rage addicts.
For months, Democratic leaders denounced Donald Trump and his supporters as fascists and neo-Nazis. President Joe Biden, Vice President Kamala Harris and others suggested that democracy itself was about to die unless Democrats were kept in power.
Just before the election, New York Gov. Kathy Hochul called those voting for Trump “anti-American.” By Hochul’s measure, over half of the American electorate is now “anti-American.”
James is the face of lawfare. She may have done more to reelect Trump than anyone other than the president himself. She ran on nailing Trump on something, anything. In New York, she was joined by Manhattan District Attorney Alvin Bragg in this ill-conceived effort. They fulfilled the narrative of a weaponized legal system. Every new legal action seemed to produce another surge in polling for Trump.
Yet there James was, soon after the election, with another press conference promising again to unleash the powers of her office to stop Trump’s policies.
Then there was Pritzker, doing the community theater version of “The Avengers” and declaring, “You come for my people, you come through me.”
New Jersey Gov. Phil Murphy (D) added that he too will “fight to the death” against Trump’s agenda.
Rather than lower the rhetoric, these rage-addicts ran out for another hit.
Our prior periods of rage politics were largely ended by the public in major election shifts like the one this month. Things, however, are different this time around both politically and legally. The problem for the resistance is the very democracy that they claimed to be saving.
Democrats lost after opposing policies supported by an astonishing share of the public at a time of deep political division. That effort included opposing voter ID laws favored by 84 percent of the public, among other things.
They are now committed to opposing policies central to this election blowout, including deportations of illegal immigrants, which is favored in some polls by two-thirds of Americans.
Likewise, Democrats have already doubled down on attacks on free speech, including blaming their loss on the absence of sufficient censorship. On MSNBC, host Mika Brzezinski blamed the loss in part on “massive disinformation.” Yet, according to some polls, free speech ranked as high as second among issues on Election Day.
According to CNN, Trump’s performance was the best among young people (18-29 years old) in 20 years, the best among Black voters in 48 years, and the best among Hispanic voters in more than 50 years.
Harris actually lost a bit of support with women, and Trump won handily among some groups of women.
None of that seems to matter this time. We have an alliance of political media and academic interests wholly untethered to the views of most of the public. Yet, with both houses of Congress under Republican control, the investigations and impeachment efforts that hounded Trump throughout his first term will be less of a threat in his second term.
For that reason, the center of gravity of the “second resistance” will shift to Democratic prosecutors like James, Bragg and Fulton County District Attorney Fani Willis, who was just reelected.
Various Democratic governors are also pledging to thwart Trump’s policies despite the results of the election.
The “second resistance” will try to use state power to oppose the very issues and policies that led to this historic political shift. That means that there will be a legal shift in the focus of litigation to inherent federal powers versus state powers. That battle will favor the Trump administration.
In fairness to these Democratic politicians, they are certainly free to go to the courts, as Republicans did under Biden to argue for limitations on federal powers. But the promise of California Gov. Gavin Newsom to “Trump-proof” the state is easier to make rhetorically than it will be to keep legally.
Indeed, Trump will be able to cite a curious ally in this fight: Barack Obama. It was Obama who successfully swatted down state efforts to pursue their own policies and programs on immigration enforcement. Obama insisted that state laws were preempted in the area and the Supreme Court largely agreed in its 2012 decision in Arizona v. U.S.
Congress may even seek to tie the receipt of federal funds to states cooperating with federal mandates. For this reason, Democrats, who campaigned on the promise to end the filibuster for the good of democracy, suddenly became firm believers in that Senate rule right around 2:30 a.m. last Wednesday.
As the majority of the country walks away from the party shaking their heads, many activists are left only with their rage. Instead of reappraising the years of far-left orthodoxy and intolerance, some are calling to tear down the system or take drastic individual actions, including for women to break up with their boyfriends and husbands or to cut off their hair.
They will actually keep their rage and dump their relationships. Now that really is an addiction.
Jonathan Turley is the Shapiro Professor of Public Interest Law at George Washington University. He is the author of “The Indispensable Right: Free Speech in an Age of Rage.”
https://www.zerohedge.com/political/resistance-20-why-campaign-against-trump-different-time
Neurogene plummets 35% on gene therapy trial data for Rett syndrome
Neurogene falls ~47% in after-hours trading after a patient experienced a severe adverse event in a trial for its Rett syndrome gene therapy.
https://seekingalpha.com/news/4276690-neurogene-plummets-35-gene-therapy-trial-data-rett-syndrome
Wheat Futures Decline as Traders Reconsider 'War Premium'
Wheat for December delivery fell 1.4% to $5.64 3/4 a bushel on the Chicago Board of Trade on Monday on questions for the need for higher prices to cover the potential of war-related supply disruptions amid the expectation that the incoming Trump administration will help broker peace between Russia and Ukraine.
-- Soybeans for January delivery fell 0.8% to $10.22 a bushel.
-- Corn for December delivery fell 0.4% to $4.29 1/2 a bushel.
HIGHLIGHTS
War Expenses: The war premium in wheat futures on worries of Black Sea or Middle East supply disruptions is being taken out of the market because of increasing hopes of peace, said Linda Meyer of AgriSource. Rainfall seen in both Russia and the U.S. Plains is also pressuring wheat futures, which in turn is weighing on corn and soybeans, Meyer said.
Friendlier Outlook: Rainfall in the U.S. Plains also pressured wheat trading.
"I think the arrival of some good moisture in many areas of the Plains last week with some sections getting over 4 inches," said Joel Karlin of Ocean States Research.
Improved rainfall means a better outlook for crops crippled by extreme drought conditions.
The USDA is closed in observance of Veterans Day, and is scheduled to release its Crop Progress Report on Tuesday.
Robust Dollar: Extended strength in the U.S. dollar index pressured the agricultural complex and other commodities.
For grains, the stronger dollar affects the competitiveness of U.S. grain exports on the world stage.
Traders are watching to see how this translates to China's export demand going forward.
"China still has very little coverage on for December and January shipment," said Arlan Suderman of StoneX in a note. "Will it now aggressively buy to fill those needs, or will it draw from its vast reserves to carry it over until new-crop Brazilian supplies are available?"
INSIGHT
World-Wide: Grain traders took Friday's WASDE report as confirmation that the world supply situation for corn and soybeans remains onerous.
"When looking at the ending stocks balance sheet, supplies are still ample from a historical perspective," said Naomi Blohm of Total Farm Marketing in a note.
The USDA did report reductions to the ending stocks of both U.S. corn and soybeans, and corn is now at 1.94 billion bushels and soybeans 470 million bushels.
Uncertain Times: The incoming administration of President-elect Trump has begun to take shape, with announcements of top-level cabinet appointments.
For agriculture, traders and analysts continue to have a host of uncertainties regarding what the Trump trade policy will ultimately be, especially as it pertains to China.
"My top question would be if he is going to enforce the Phase 1 agreement from his last presidency," said Karl Setzer of Consus Ag Consulting. "The Biden administration never really did and it's been kinda forgotten about."
Money Flow: Commodity categories across the board saw higher flows of open interest for the week ended Nov. 8, with the exception of precious metals, according to data from JPMorgan Global Commodities Research.
Grain and oilseed futures saw the largest percentage uptick for the week, with open interest rising by approximately 5% to around $185 billion.
Friday's WASDE report from the USDA was a factor spurring increased investment in agriculture because of yield cuts in the report.
AHEAD
-- The USDA is closed in observance of Veterans Day. It will reopen Tuesday.
-- Mosaic Corp. is scheduled to release its third-quarter earnings report before the stock market opens Tuesday.
-- Tyson Foods Inc. is due to release its fourth-quarter earnings report at 7:30 a.m. EST Tuesday.
-- The USDA is scheduled to release its weekly grains export inspections report at 11 a.m. EST Tuesday.
-- The USDA is due to release its weekly Crop Progress Report at 4 p.m. EST Tuesday.
Goods from China boosted U.S. ocean imports in October, Descartes said
Shipments from China helped U.S. imports of containerized goods exceed 2.4 million 20-foot equivalent units (TEUs) for the fourth consecutive month in October,trade data supplier Descartes Systems Group DSG.TO said on Monday.
U.S. container imports last month totaled 2.49 million TEUs, a 1% decline from September and just 2.4% lower than this year's high in July.
Import volume from China reached 960,016 TEUs, up 8.3% from October 2023 and reflecting an overall upward trend this year. The most common imports from China include furniture, bedding, toys, games and sports equipment, Descartes data showed.
U.S. President-elect Donald Trump has promised to impose 60% tariff on Chinese goods and on products from other countries, including Mexico. Some importers told Reuters they already have rushed in shipments to avoid paying additional levies on Chinese products.
China accounted for 38.5% of total U.S. container imports in October, below the February 2022 peak of 41.5%.
At seven of the top 10 U.S. ports, transit time delays increased in October. That includes the top five East and Gulf Coast ports, where operations were disrupted by a three-day strike at the beginning of the month.
The International Longshoremen's Association (ILA) labor union and the United States Maritime Alliance (USMX) employer group ended that impasse with a deal on wages. They set a new Jan. 15 deadline to reach a tentative deal on port automation and other remaining issues.
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