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Tuesday, April 1, 2025

Newsmax stock soars, pushing market cap north of $20 billion after huge IPO success

 Newsmax stock (NMAX) soared as high as 173% Tuesday, extending its massive 735% gain on Monday following the conservative cable news outlet’s IPO.

Newsmax raised $75 million in its IPO Friday, with shares priced at $10. The outlet’s rapid ascent in its first two days of trading pushed its market cap to more than $20 billion Tuesday afternoon, with shares trading as high as $228.

“This incredibly successful offering, combined with our previous Preferred Offering, provides us with the capital and financial freedom to accelerate our growth initiatives, expand our programming, and further enhance our digital presence,” said CEO Christopher Ruddy, a media mogul and friend of President Trump who founded the company in 1998.

https://finance.yahoo.com/news/newsmax-stock-soars-pushing-market-cap-north-of-20-billion-after-shocking-ipo-success-140753184.html

bioAffinity 52-week low, then record revenue

 In a challenging year for bioAffinity Technologies, the company’s stock has plummeted to a 52-week low, trading at just $0.25. According to InvestingPro data, the stock’s RSI indicates oversold conditions, while its beta of 3.14 reflects significant volatility. This significant downturn reflects a staggering 1-year change, with the stock value eroding by -87.89%. Investors have watched with concern as the company struggled to maintain its market position amidst a tough economic landscape, leading to this new low point. With a market capitalization of just $4.08 million and rapid cash burn, the company faces significant challenges. However, analysts forecast 278% revenue growth for the current year. The current price level serves as a stark indicator of the hurdles bioAffinity Technologies has faced over the past year, marking a period of intense volatility and investor caution within the biotech sector. InvestingPro subscribers can access 12 additional key insights about the company’s financial health and future prospects.

In other recent news, bioAffinity Technologies, Inc. reported a notable 270% increase in revenue for the year ended December 31, 2024, reaching $9.4 million, compared to $2.5 million the previous year. This surge is primarily attributed to the increased demand for its CyPath® Lung test, which is now reimbursed by Medicare and private insurers, following its inclusion in the Centers for Medicare and Medicaid Services’ clinical laboratory fee schedule. Despite the revenue growth, the company anticipates a reduction in total revenue for 2025 due to the discontinuation of certain unprofitable services. In a strategic move, bioAffinity has announced cost-saving measures at its subsidiary, Precision Pathology Laboratory Services, aiming for $4 million in annual savings to focus on CyPath® Lung sales. The company also secured a patent in Australia for its lung cancer test, enhancing its intellectual property portfolio. Meanwhile, bioAffinity Technologies faces a potential Nasdaq delisting due to its stock not meeting the minimum bid price requirement, though it has been granted a 180-day period to regain compliance. Additionally, the company’s CEO, Maria Zannes, received a salary increase, reflecting bioAffinity’s recognition of leadership contributions.

https://www.investing.com/news/company-news/bioaffinity-technologies-stock-hits-52week-low-at-025-93CH-3957950

ReShape Lifesciences Inc. (1,900% Jump in Message Volume)

 ReShape Lifesciences saw a surge in retail discussion as traders speculated on the potential approval of its proposed reverse merger with Vyome Therapeutics, first announced in June 2024. 

The metabolic health solutions company stated in January that it was still working with the SEC on its S-4 filing and would set a shareholder meeting date once the filing is declared effective.

Some investor interest also stemmed from reports that Michael Bigger’s fund had taken a significant stake in ReShape. However, sentiment remained mixed after the company raised $6 million through a public offering last month. 

ReShape’s stock is down nearly 80% year-to-date (YTD).

https://www.msn.com/en-in/health/other/reshape-lifesciences-allarity-exact-sciences-cvs-abbvie-5-health-care-stocks-that-led-retail-message-growth-last-week/ar-AA1AAz1J

ACC25: Mineralys' uncontrolled hypertension drug aces trial

 What can you do if a patient with hypertension can't control their blood pressure with the best available drugs? Soon, it may be possible to layer in a therapy from Mineralys Therapeutics – with a new mechanism of action – to help regain control.

That is the conclusion of the Advance-HTN study reported at the American College of Cardiology (ACC) meeting, which found that adding Mineralys' aldosterone synthase inhibitor lorundrostat to the current treatment of uncontrolled hypertension significantly lowered 24-hour blood pressure.

It is thought that around 10% of the 1.3 billion people with hypertension around the world struggle to control their blood pressure using the current main classes of antihypertensive, namely diuretics, calcium channel blockers, and renin-angiotensin system-targeting drugs. That puts them at risk of serious consequences including heart attack, kidney damage, and stroke.

The pivotal study found that lorundrostat lowered 24-hour systolic blood pressure at week 12 by 15.4 mmHg, 7.9 mmHg more than placebo, at a once-daily dose of 50mg. Pushing the dose higher gave no additional treatment benefit but did worsen side effects, which included elevated levels of blood potassium – a side effect that can cause cardiac issues – although all the increases were modest.

"This result was achieved in expertly treated patients who were taking an optimal standardised antihypertensive regimen. In other words, they were patients with uncontrolled and truly treatment-resistant hypertension," said Cleveland Clinic cardiologist Luke Laffin, who presented the data at ACC.

"Additionally, this study's use of 24-hour ambulatory blood pressure monitoring strengthens findings from previous studies of lorundrostat that used office-based monitoring, as ambulatory monitoring is a better predictor of future cardiovascular and kidney risk," he added.

Mineralys now has data from two pivotal trials of lorundrostat, having earlier reported positive results with the drug in the Launch-HTN, which recruited patients in real-world settings rather than the group receiving specialist care in Advance-HTN. It revealed a 19.0 mmHg absolute and 11.7 mmHg placebo-adjusted reduction in blood pressure at week 12.

Prospects for people with uncontrolled hypertension are starting to look up, as various therapies are poised to join decades-old mineralocorticoid receptor blocker spironolactone as treatment options.

Last year, Idorsia Pharma claimed FDA approval for Tryvio (aprocitentan) as the first endothelin receptor antagonist for resistant hypertension, while AstraZeneca has another aldosterone synthase inhibitor, baxdrostat, in phase 3 testing for this indication. AZ acquired baxdrostat when it bought CinCor for $1.3 billion in 2023.

Mineralys' drug is considered to be the furthest along in development in the new class, with others in the pipeline including Damian Pharma's dexfadrostat and Boehringer Ingelheim's vicadrostat (BI 690517).

The company is also running the phase 2 Explore-CKD trial of lorundrostat in chronic kidney disease and is expecting topline data in the coming weeks and recently started another phase 2 trial called Explore-OSA in patients with moderate-to-severe obstructive sleep apnoea (OSA) and hypertension.

https://pharmaphorum.com/news/acc25-mineralys-uncontrolled-hypertension-drug-aces-trial

Monday, March 31, 2025

Trump administration to freeze family-planning funds for Planned Parenthood

 Reproductive health provider Planned Parenthood said on Monday the Trump administration would cut federal family planning funding as of Tuesday, affecting birth control, cancer screenings and other services for low-income people.

Planned Parenthood said that nine of its affiliates received notice that funding would be withheld under a program known as Title X, which has supported healthcare services for the poor since 1970. The Wall Street Journal reported last week the U.S. Department of Health and Human Services planned an immediate freeze of $27.5 million in family planning grants for groups including Planned Parenthood.

Planned Parenthood says more than 300 health centers are in the Title X network and Title X-funded centers received more than 1.5 million visits in 2023. It not say how much funding would be halted by the Trump administration.

The White House and HHS did not immediately respond to a Reuters request for comment. An HHS spokesperson said last week the department was reviewing grant recipients to ensure compliance with President Donald Trump's executive orders.

Alexis McGill Johnson, president and CEO of Planned Parenthood Action Fund, predicted that cancers would go undetected, access to birth control would be severely reduced, and sexually-transmitted infections would increase as a result.

"President Trump and Elon Musk are pushing their dangerous political agenda, stripping health care access from people nationwide, and not giving a second thought to the devastation they will cause," McGill Johnson said in a statement.

https://www.usnews.com/news/politics/articles/2025-03-31/trump-administration-to-freeze-family-planning-funds-for-planned-parenthood

SpaceX launches private astronaut crew in Fram2 polar-orbiting mission

 SpaceX launched the first human spaceflight directly over Earth's polar regions on Monday -- a days-long, privately funded orbital mission involving four astronauts.

Named "Fram2" after the famed Norwegian ship built in the 19th century for Arctic and Antarctic expeditions, the mission will feature a range of experiments including taking the first X-ray in space and growing mushrooms in microgravity.

It's hoped that the research will support future long-duration space travel to Mars.

The crew launched aboard a SpaceX Crew Dragon capsule on a Falcon 9 rocket at 9:46 pm Monday (0146 GMT Tuesday) from NASA's Kennedy Space Center in Florida.

Cheers rang out in the control room as the powerful rocket roared upward, lighting up the night sky with a long, orange plume of flame as the craft began its journey toward Earth's North and South Poles.

"With the same pioneering spirit as early polar explorers, we aim to bring back new data and knowledge to advance the long-term goals of space exploration," mission commander Chun Wang said before the launch.

Wang, a Chinese-born Maltese adventurer and co-founder of crypto companies f2pool and skatefish, selected the rest of the crew: vehicle commander Jannicke Mikkelsen, a Norwegian film director; mission pilot Rabea Rogge, a robotics researcher from Germany; and mission specialist and medical officer Eric Philips, an Australian polar explorer.

The team trained for eight months in preparation for the approximately four-day trip, including a wilderness expedition in Alaska to simulate living in close quarters under harsh conditions.

Upon returning to Earth, the crew will attempt to exit the spacecraft without additional medical support -- part of a study to help researchers understand how well astronauts can perform basic tasks after spaceflight.

Except for the Apollo lunar missions, Earth's polar regions have remained out of view for astronauts, including those aboard the International Space Station (ISS). Even on Apollo, they did not fly directly over the Earth's poles.

SpaceX has carried out five private astronaut missions to date -- three in collaboration with Axiom Space to the ISS, and two free-flying in Earth orbit.

The first of these was Inspiration4 in 2021, followed by Polaris Dawn, which featured the first spacewalk conducted by private astronauts.

Both free-flying missions were chartered by e-payments billionaire Jared Isaacman, who has also been nominated by President Donald Trump to serve as the next NASA administrator.

Isaacman is also a close associate of SpaceX CEO Elon Musk.\

https://www.yahoo.com/news/spacex-launches-private-astronauts-first-021015056.html

US, Denmark to hold first high-level talks since Trump's win, FT reports

Danish Foreign Minister Lars Lokke Rasmussen is set to meet U.S. Secretary of State Marco Rubio this week in the first high-level talks since President Donald Trump's re-election and his vow to "take control" of Greenland, the Financial Times said.

The prospect of such talks comes amid simmering tension between the two nations over U.S. interest in taking control of Greenland, the Arctic island controlled by Denmark since 1721.

The meeting is planned for the sidelines of a gathering of NATO foreign ministers in Brussels set to begin on Thursday, the paper said on Tuesday, citing two officials briefed on the preparations.

However, the officials warned the event could be cancelled because of tense relations between Copenhagen and Washington, it added.

The U.S. State Department did not immediately respond to a Reuters request for comment.

Danish Prime Minister Mette Frederiksen is visiting Greenland from April 2 to 4 for talks with the new government of the semi-autonomous territory just days after a visit by U.S. Vice President JD Vance.

On his trip, Vance accused Denmark of not doing a good job of keeping the island safe and suggested the United States would better protect the strategically located island.

https://www.yahoo.com/news/us-denmark-hold-first-high-041627161.html