Target to $70 from $85
Thursday, February 6, 2025
Sangamo Positive Updated Phase 1/2 Data in Fabry Disease
Sustained benefit demonstrated with elevated expression of alpha-galactosidase A (α-Gal A) activity maintained for nearly four years for the longest treated patient as of the data cutoff date
Positive mean estimated glomerular filtration rate (eGFR) slope observed in the 23 patients who had reached at least one-year follow-up, indicating notable improvements in renal function
All 18 patients who began study on enzyme replacement therapy (ERT) have been withdrawn from, and remain off, ERT
Data to support Accelerated Approval pathway expected in first half of 2025, with potential Biologics License Application (BLA) submission to the U.S. Food and Drug Administration (FDA) anticipated in second half of 2025
Sangamo continues to advance business development discussions for a potential ST-920 collaboration
Equillium Positive Data from Phase 2 in Ulcerative Colitis
Itolizumab demonstrated clinical efficacy after 12 weeks of treatment, achieving a clinical remission rate of 23.3% compared to 20.0% for adalimumab and 10.0% for placebo
Itolizumab achieved key secondary endpoint of endoscopic remission of 16.7% compared to 16.7% for adalimumab and 6.7% for placebo
Itolizumab was generally well tolerated consistent with prior clinical experience
https://www.businesswire.com/news/home/20250206241338/en/(Graphic
White House preparing order to cut thousands of federal health workers, WSJ reports
The White House is working on an executive order to fire thousands of U.S. Department of Health and Human Services workers, the Wall Street Journal reported on Thursday, citing people familiar with the matter.
Under the order, which could come as soon as next week, the Food and Drug Administration, Centers for Disease Control and Prevention and other health agencies would have to cut a certain percentage of employees, the WSJ said.
Temu pushes ‘local’ products asTrump reverses trade loophole helping China firms avoid taxes
Temu is touting more of its so-called “local” products after President Trump revoked a lucrative trade loophole that helped the Chinese fast-fashion firm avoid taxes and US customs.
On Thursday, the Chinese-owned e-commerce site promoted items that had a green “local” badge, meaning they come from a US warehouse – boasting of deals starting as low as $1.99 with ultra-fast shipping.
The bulk of its “Lightning deals” section included these “local” items, and the website’s homepage promoted a special “local warehouse” section.
Temu is trying to pivot from its reliance on Chinese merchants who ship direct to the US after President Trump imposed a 10% tariff on China, and killed the longtime “de minimis” exemption, which allowed sellers to ship packages worth less than $800 into the US duty-free.
The loophole helped Temu and fellow Chinese fast-fashion giant Shein grow massively popular in the US, since they could ship products directly from China to US doorsteps and sell them at dirt-cheap prices — like $5 sneakers and $13 AirPod knockoffs.
Trump’s tariff and elimination of the de minimis rule could force the Chinese firms to raise their prices and face major shipping delays at customs, experts previously told The Post.
So the Chinese-owned firm has ramped up its promotion of sellers with inventory in US warehouses in an attempt to avoid the taxes and customs craze, CNBC earlier reported.
Temu did not immediately respond to a request for comment.
Along with getting purchases to US shoppers quicker, the strategic move will also help reduce the company’s dependence on sellers who ship direct from China, according to CNBC.
Though the “local” products are stored in US warehouses, many of them are sold by businesses based in China, according to the product listings.
By prioritizing its “local” products, Temu sets itself up to more directly compete with US rivals like Amazon, eBay and Walmart, which partner with Chinese sellers who ship goods to US warehouses.
These more traditional retailers have taken notice of Temu and Shein, who emerged as stiff competition over the past few years, especially as the Chinese firms took advantage of TikTok trends and churned out new products quickly.
Amazon last year launched its own low-price storefront, Haul, to compete with the two fast-fashion sites.
Meanwhile, in March, Temu started onboarding sellers with inventory in US warehouses in a preemptive measure as US lawmakers fought to stifle the Chinese firm’s imports, according to CNBC.
US lawmakers have accused Temu and Shein of abusing the de minimis rule.
Their exports soared to $66 billion in 2023, from $5.3 billion in 2018, according to a report released last week by the Congressional Research Service.
And a 2023 investigation by the House select committee found that Temu was likely shipping goods made with forced labor into the US on a “regular basis.”
By July 2024, about 20% of Temu’s US sales came from sellers with US warehouses, not merchants based in China, according to e-commerce market research firm Marketplace Pulse.
Shein has also been bringing on US buyers and sellers, as well as opening distribution centers in Illinois and California and a supply chain hub in Seattle.
As Temu and Shein this week feared extra costs and shipping delays after the de minimis rollback, they were thrown another curveball when the United States Postal Service announced a ban on inbound packages from China and Hong Kong, and then reversed the suspension less than a day later.
New York is sued over $75 billion climate superfund
New York state was sued on Thursday over a new law requiring fossil fuel companies to contribute $75 billion over 25 years into a state fund that will pay for damage caused by climate change, West Virginia Attorney General John McCuskey said.
The law signed by Democratic Governor Kathy Hochul on December 26 creates a "superfund" to shift the cost to mitigate climate change to oil, gas and coal companies from taxpayers.
At a press conference, McCuskey, a Republican, called the law unconstitutional. A copy of the complaint was not immediately available.
https://www.yahoo.com/news/york-sued-over-75-billion-181756161.html
'Panama president: No deal to allow US warships to use canal for free'
Panamanian President José Raúl Mulino on Thursday rejected U.S. claims that American warships and boats can transit the Panama Canal without paying a standard fee.
In a weekly news conference, Mulino disputed a statement from the State Department on free transit after Secretary of State Marco Rubio’s visit to Panama earlier this week.
“I want to make it very clear to the country my absolute rejection of the statement from the State Department,” he said. “It is based on a falsehood.”
Mulino said there were “many more interests that unite” Panama and the U.S. and expressed interest in continuing dialogue with Rubio and the Trump administration.
The State Department said in a Wednesday post on X that it “U.S. government vessels can now transit the Panama Canal without charge fees, saving the U.S. government millions of dollars a year.”
But Panama Canal authorities quickly denied it in a separate post, saying, “it has not made any adjustments” to transit fees but noted it was open to dialogue on the issue.
The Panama Canal is one of the main waterways connecting the Atlantic and Pacific oceans. Trump has pushed to regain control of the canal in recent months, decrying Chinese influence and high transit prices. The U.S. helped built the canal in the early 20th century but later turned it over to Panama.
Dozens of U.S. Navy ships transit the Panama Canal each year, and U.S. commercial and other vessels also make up a significant share of the traffic in the canal. The Panama Canal charges anywhere between $300,000 to $1 million, varying based on ship size.
After Rubio visited Panama this week, his office put out a statement saying that he and Mulino discussed Chinese influence in the country and illegal migration. Defense Secretary Pete Hegseth also held a call with Mulino this week.
Mulino said Thursday that warships from different countries have passed through the Panama Canal for years “without hindrance.”
https://thehill.com/policy/defense/5130455-panama-canal-fees-us-rejection/
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