Summit Therapeutics (SMMT) Sees Stock Surge Amid Early Warrant Exercises

 

• Summit Therapeutics' (SMMT, Financial) shares surge following warrant exercises by co-CEOs.
• Analysts are optimistic about upcoming trial data, maintaining a "Buy" recommendation.
• Wall Street forecasts suggest a significant downside despite current stock enthusiasm.

Recently, shares of Summit Therapeutics (SMMT) saw an impressive uptick as co-CEOs Bob Duggan and Maky Zanganeh made a notable move by exercising their warrants significantly ahead of schedule. Each acquired nearly 4 million shares, which analysts interpret as a strong indicator of confidence. The market is now keenly awaiting the HARMONi-2 trial's survival data, which some believe could be a game-changer for the company's trajectory.

https://www.gurufocus.com/news/2772365/summit-therapeutics-smmt-sees-stock-surge-amid-early-warrant-exercises

MBX Biosciences initiated with an Outperform at Citizens JMP

 Citizens JMP initiated coverage of MBX Biosciences (MBX) with an Outperform rating and $38 price target 

https://www.tipranks.com/news/the-fly/mbx-biosciences-initiated-with-an-outperform-at-citizens-jmp

Novartis to invest $23 billion in US manufacturing

 Novartis AG (SIX:NOVN), the Swiss pharmaceutical giant, has announced a substantial $23 billion investment to bolster its manufacturing and research and development operations in the United States. This five-year initiative is set to significantly enhance the company’s capacity to produce its key medicines domestically.

The planned investment will fund the establishment of 10 facilities, including seven new sites. This expansion is expected to create close to 1,000 new jobs within Novartis and an estimated 4,000 additional jobs across the U.S. economy. The company aims to achieve complete end-to-end production of its key medicines in the U.S., a notable increase from its current manufacturing capabilities.

The expansion includes the construction of four new manufacturing facilities in states yet to be named, two new radioligand therapy (RLT) manufacturing sites in Florida and Texas, and the enhancement of three existing RLT facilities. Novartis is the sole company with a dedicated commercial RLT portfolio and is enhancing its U.S. production to meet the growing demand for these therapies.

A significant portion of the investment, $1.1 billion, is earmarked for a new research hub in San Diego, California, slated to open between 2028 and 2029. This state-of-the-art facility will become a cornerstone of Novartis’ biomedical research on the West Coast, complementing its other major R&D centers.

Novartis CEO Vas Narasimhan emphasized the investment’s alignment with the company’s growth outlook and the favorable innovation policy environment in the U.S. He expressed confidence in Novartis’ ability to adapt to external shifts and reaffirmed the company’s financial guidance through 2027.

https://www.investing.com/news/stock-market-news/novartis-invests-23-billion-in-us-manufacturing-93CH-3980050

House Passes Bill Requiring Proof Of Citizenship To Vote

 The House on Thursday passed a bill that would require proof of citizenship to register to vote in federal elections, the first step in codifying one of President Donald Trump's executive orders from his second term.

The the Safeguard American Voter Eligibility (SAVE) Act passed in a 220-208 vote, with four Democrats joining every Republican present in support of the measure.

The legislation was sponsored by Rep. Chip Roy (R-TX), and would amend the National Voter Registration Act to require states to obtain proof of citizenship in person from people registering to vote.

It also requires states to establish programs to remove illegal immigrants from existing voter rolls, and allows US citizens to sue election officials who don't adhere to the proof of citizenship requirements.

Opponents of the bill say that the SAVE Act would disenfranchise eligible voters who don't easily have access to identification documents.

Hillary Clinton, for example, suggested divorced women would suffer greatly...

Federal law requires that people registering to vote swear under penalty of perjury that they are citizens and eligible to vote. Several courts have blocked efforts by states to require proof-of-citizenship for voters in federal races.

President Trump and his allies have slammed the threat of noncitizen voters. For example:

 https://www.zerohedge.com/political/house-passes-bill-requiring-proof-citizenship-vote

Trump Admin Will Fine Illegals Almost $1000 Per Day If They Don't Self-Deport

 by Steve Watson via Modernity.news,

The Trump administration has announced it will issue fines of $998 per day to illegal immigrants who do not voluntarily deport themselves.

Department of Homeland Security Assistant Secretary Tricia McLaughlin told Fox News, “Illegal aliens should use the CBP Home app to self-deport and leave the country now.” 

“If they don’t, they will face the consequences. This includes a fine of $998 per day for every day that the illegal alien overstayed their final deportation order,” McLaughlin added.

Reuters further notes that a Trump official confirmed the administration intends to use a 1996 law to apply retroactive penalties on illegal aliens dating back up to five years, meaning fines could rack up to over $1 million.

The report also states that government emails suggest the administration could seize property owned by illegals who refuse to pay the fines.

A DHS flyer aimed at illegals has also been highlighted by Fox News, touting the “benefits” and “consequences” of self-deporting, and includes mention of the huge fines.

“Self-deportation is safe. Leave on your own terms by picking your departure flight,” the flyer states.

The flyer further notes that those who make the decision to leave will be allowed to keep the money they earned in America, and still be eligible for legal immigration, in the future as well as subsidized flights if they cannot afford them.

It further adds that those who do not leave immediately will be “apprehended by DHS with no opportunity to get your affairs in order beforehand,” and could face additional fines of $1,000 to $5,000 for failing to self deport after “claiming that you will.”

https://www.zerohedge.com/political/trump-admin-will-fine-illegals-almost-1000-day-if-they-dont-self-deport

Novavax Shares Crash After RFK Jr. Comments

 Robert F. Kennedy Jr., in his first national TV appearance as Health and Human Services Secretary under the Trump administration, questioned the effectiveness of Novavax's Covid vaccine during an interview with CBS News' chief medical correspondent, Dr. Jon LaPook. The interview, which cast doubt on the shot, sent shares of the Maryland-based biotech firm crashing on Thursday.

RFK Jr. told LaPook that Novavax's shot targets just one piece of the virus, an approach he said has "never worked" for respiratory illnesses:

We're looking at that vaccine, and it is a single-antigen vaccine. And, for respiratory illnesses, the single-antigen vaccines have never worked and we're actually shifting our priorities to multiple-antigen vaccines. And NIH is already working on a number of those.

RFK Jr.'s comments sent Novavax shares into a tailspin, plunging 24% during late-morning trading in New York. The stock has already suffered steep losses in recent years, falling back to pre-pandemic lows after the pandemic ended.

"Novavax's shot is already on the market under a conditional approval. It's awaiting from the Food and Drug Administration a full approval that was expected April 1," Bloomberg noted.

In recent weeks, Wall Street analysts have raised concerns about Peter Marks' abrupt resignation. Marks was a top FDA regulator and pro-vaxxer. 

Analysts—including BMO Capital Markets' Evan David Seigerman—viewed Marks' departure as a "significant negative" for the biotech and biopharma sectors. 

The share of SPDR S&P Biotech ETF (XBI) is down about 34% since Trump won the presidential election and Wall Street's fear that RFK Jr. would push through major reforms at HHS that would hurt the vaccine industrial industry

.  .  . 

https://www.zerohedge.com/markets/novavax-shares-crash-after-rfk-jr-comments-cbs

"Coercive Control": Parents Could Lose Custody Under Proposed Colorado Law For "Misgendering"

 by Jonathan Turley,

Parental rights are emerging as one of the major civil liberties movements of this generation — and one of the greatest conflicts between the right and the left in this country. For example, the United States Court of Appeals for the First Circuit ruled schools can hide a change of gender in young children from their parents. Now, Colorado is poised to pass a law that would threaten the custody rights of parents who “deadname” or “misgender” their own children. If a parent does not adopt a child’s new pronouns or name, they could be found to have exercised “coercive control” and lose custody in divorce proceedings in favor of a more enlightened parent.

As someone who grew up in an Italian family, I must confess that I thought “coercive control” of a parent was called . . . well . . . parenting. I can still remember my Sicilian mother brandishing a broom in front of our door to prevent one of my sisters from going out with a boy that she did not like. She simply declared “I gave you life, I can take it away” and my sister went back upstairs.

I admit the Italian parental style can be a bit shocking for outsiders and misunderstood by many. (My Irish father would sit bemused in the kitchen). In reality, it was all drama but you knew that it conveyed not anger but love.

Under the new proposal, House Bill 25-1312, Colorado would use the “Kelly Loving Act” to make “deadnaming” and “misgendering” children a factor in child custody disputes. Referring to your child’s biological gender or given name or pronoun would now be considered harmful and abusive, inviting a court to take your child away from you as a coercive parent.

“Section 2 provides that, when making child custody decisions and determining the best interests of a child for purposes of parenting time, a court shall consider deadnaming, misgendering, or threatening to publish material related to an individual’s gender-affirming health-care services as types of coercive control. A court shall consider reports of coercive control when determining the allocation of parental responsibilities in accordance with the best interests of the child.”

So the state will require parents to adopt a gender, name, and pronoun that they believe are harmful for their children. 

Many such parents may believe that a young child should proceed slowly and not make such changes as they consider the implications of such decisions.

One question is whether this would be limited to custody proceedings or eventually expand to families generally. 

If this is deemed abusive or harmful during custody battles, it would also be presumably abusive or harmful outside of such proceedings. The fear is that the underlying conclusions could support a view of a household being abusive and not being in the best interests of the child.

Notably, the Supreme Court will now be considering a Colorado case involving a ban on counselors offering “conversion therapy” for children. 

Under the state rule, a counselor can lose her license if she agrees to such counseling at the request of her parents. The U.S. Court of Appeals for the 10th Circuit tossed the challenge, ruling that conversion therapy is harmful and the rule is part of an effort to regulate the healthcare profession.

Rep. Lorena Garcia, D-Denver, insisted that:

“This bill is the bare minimum of what we can do as a state, and the fact that we have to legislate for people to not bully and misgender and deadname people because of whatever insecurities they might have is sad to me. Why can’t we just respect one another? Why can’t we just understand that someone else’s identity has nothing to do with me or you?”

The bill passed the committee on a straight party vote with Republicans in opposition. I believe that the Democrats are not just ignoring parental rights but political realities. They will find that this is not a partisan issue. It is a primal issue. For parents, Democratic politicians like Garcia fail to “understand” that it has a lot “to do with them.” 

They are the parents of these children. If Democrats do not “understand” that, they are likely soon to find that out.

https://www.zerohedge.com/political/coercive-control-parents-could-lose-custody-under-proposed-colorado-law-misgendering