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Thursday, June 12, 2025

Russia Won't End Ukraine War Until NATO Pulls Forces Out Of Eastern Flank

A top Kremlin official was quoted in Newsweek this week warning that Russia won’t end the Ukraine war until NATO pulls its troops out of the Baltic and 'eastern flank' states.

Russia's Deputy Foreign Minister Sergei Ryabkov demanded that NATO must withdraw its troops from the Baltic region. Russia has long seen the Baltics as very near, and its sphere of influence, also given its territory of of Kaliningrad. 

"The American side requires practical steps aimed at eliminating the root causes of the fundamental contradictions between us in the area of security," he had said, originally in state TASS.

"Among these causes, NATO expansion is in the foreground," he emphasized. "Without resolving this fundamental and most acute problem for us, it is simply impossible to resolve the current conflict in the Euro-Atlantic region."

NATO's 'eastern flank' closer to the start of the Ukraine war - forces have since grown...

"Given the nature and genesis of the Ukrainian crisis, provoked by the previous U.S. authorities and the West as a whole, this conflict naturally acts, well, if you like, as a test, a trial, which checks the seriousness of Washington's intentions to straighten out our relations," he said.

Ryabkov said Moscow's position all along has been that the Western military alliance "not deploy strike weapons near Russian border."

"In any case, reducing NATO's Eastern European contingent would likely boost the security of the whole continent," he concluded.

Such a broader ultimatum was actually issued just before the full-scale invasion, but was not heeded. In fact, countries like Estonia, Latvia, and Lithuania have only grown more hawkish and vocal in their anti-Moscow rhetoric, and have even taken legal action against the Russian Orthodox Church in the Baltics.

A very provocative and sensational alert issued by German intelligence...

Newsweek has meanwhile reviewed that "NATO maintains a strong military presence on its eastern flank in Europe, with multinational battle groups and brigades stationed in Bulgaria, Estonia, Hungary, Latvia, Lithuania, Poland, Romania and Slovakia."

* * *

Michael Every of Rabobank has commented the following of this renewed Kremlin demand...

In geopolitics, Russia warned it won’t end the Ukraine war until NATO pulls its troops out of the Baltic states. Whatever asset you look at, take a step back and think about that for a moment. 

Is that a bluff – how can you know? Does it mean the EU surrendering those states back to Russian influence – and where afterwards? That’s the end of the EU as we know it, let alone the version that breezily states it wants to expand to Moldova, next to a Russian client state, and Georgia, next to Russia itself.

Or it implies a permanent state of EU-Russia hostility --the latter not with “an economy the size of Italy”, but a war economy with a purchasing power parity of $7 trillion and a world of physical resources-- with profound implications for both sides socio-politically, economically, and financially. 

https://www.zerohedge.com/geopolitical/russia-wont-end-ukraine-war-until-nato-pull-forces-out-eastern-flank

Hungary Sues European Commission Over €1 Million-A-Day Migrant Fine

 by Thomas Brooke via Remix News,

The Hungarian government has launched a legal challenge against the European Commission’s decision to impose a daily €1 million fine over the country’s refusal to accept illegal migrants. György Bakondi, the chief security advisor to Prime Minister Viktor Orbán, announced on Wednesday that Budapest will file a lawsuit with the European Court of Justice.

Appearing on TV2’s “Mokka” program, Bakondi said Hungary will not comply with the European Union’s new Migration Pact, which he described as “a clear call for illegal immigrants to be allowed in.” He emphasized that Hungary remains committed to its sovereignty and national security, and refuses to be pressured into taking in individuals who entered the bloc unlawfully.

The lawsuit will be led by a team of lawyers with what Bakondi called “a serious reputation,” including two former members of the European Court of Justice.

Hungary’s resistance to EU migration policy is not new. In 2015, the country faced a surge of more than 400,000 illegal border crossings within two months. In response, the government implemented border fences and legal restrictions to halt the flow. Officials credited these measures with preventing the emergence of terrorist threats, no-go zones, and the overburdening of public services.

In a national referendum in 2016, 98 percent of those who voted rejected the proposal to allow the European Union to mandate the obligatory resettlement of non-Hungarian citizens into Hungary without parliamentary approval. The referendum had a 44 percent turnout, under the 50 percent threshold required to be considered valid.

The Orbán administration had already signaled its intent to take legal action against Brussels back in December, setting aside 600 million forints (approximately €1.5 million) to fund the court battle.

Hungary has consistently pushed for a rethinking of the EU’s asylum policy, including relocating asylum processing to centers outside of EU territory. Orbán reiterated this stance on Monday during a speech at a Patriots for Europe rally in France.

“What is happening is not migration,” he said. “It’s an organized exchange of people to replace Europe’s cultural base. For us, €1 million a day is a lot of money, but we’d rather pay than let anyone in illegally. It’s the best investment for the future.”

The European Commission has not yet publicly responded to the lawsuit.

https://www.zerohedge.com/geopolitical/hungary-sues-european-commission-over-eu1-million-day-migrant-fine

Wednesday, June 11, 2025

Pacific Biosciences at Goldman Sachs

 On Wednesday, 11 June 2025, Pacific Biosciences (NASDAQ:PACB) presented at the Goldman Sachs 46th Annual Global Healthcare Conference, discussing its strategic advancements and challenges. The company highlighted its long-read sequencing technology’s potential and addressed financial performance, emphasizing both growth opportunities and market constraints.

Key Takeaways

  • PacBio’s HiFi technology excels in structural variation analysis, aiming for cost parity with short-read sequencing.
  • Q1 2024 saw a record $20.1 million in consumable revenue, marking a 26% increase year-over-year.
  • The Revio platform can sequence 2,500 genomes annually at $500 per genome, with plans to reduce costs further.
  • PacBio is targeting profitability by 2027 through top-line growth, gross margin improvement, and reduced operating expenses.
  • The Vega platform’s launch has surpassed expectations, attracting new biopharma and metagenomics customers.

Financial Results

  • Q1 2024 consumable revenue reached $20.1 million, a 26% increase from the previous year.
  • Revio’s pull-through met expectations, with 200,000 to 250,000 annualized per box.
  • Spark chemistry contributed to 90% of Revio consumables sold, enhancing output by 33% and reducing DNA input needs.

Operational Updates

  • The Revio platform aims to increase throughput from 2,500 genomes per year to tens of thousands.
  • The cost per genome is currently $500, with goals to lower it to a few hundred dollars.
  • The Vega platform shipped 28 systems in Q1, with over 50% of customers being new to PacBio.
  • A distributor agreement with Haoray in China will expand HLA testing lab access.

Future Outlook

PacBio is focusing on high-throughput long-read sequencing, pausing short-read system development.

  • The company aims to capture 5% of the $3 billion whole-genome market.
  • Plans include enhancing gross margins through consumable sales and reducing operating expenses by $45 million to $50 million annually.

Q&A Highlights

  • Despite capital constraints in the US academic and government sectors, consumable usage remains stable.
  • The clinical market, representing 15% of the customer base, shows growth in genetic disease testing and other areas.
  • PacBio is proactively managing debt, aiming for a strong financial position to support R&D efforts.

For further details, please refer to the full transcript below.

Full transcript - Goldman Sachs 46th Annual Global Healthcare Conference:


Myriad Genetics at Goldman Sachs Conference

 On Wednesday, 11 June 2025, Myriad Genetics (NASDAQ:MYGN) participated in the Goldman Sachs 46th Annual Global Healthcare Conference. The company’s leadership shared a cautiously optimistic outlook, highlighting strategic growth opportunities while addressing current challenges. Despite slower growth this year, Myriad remains focused on profitability and operational efficiency.

Key Takeaways

  • Myriad aims for high single-digit to low double-digit revenue growth, driven by hereditary cancer, molecular profiling, MRD, and prenatal testing.
  • The company maintains strong gross margins around 70% and is investing in strategic initiatives like EMR integrations and the Lab of the Future.
  • Challenges include EMR integration issues and the impact of UnitedHealthcare’s decision on GeneSight coverage.
  • Myriad is leveraging partnerships and technological advancements to enhance its product offerings.

Financial Results

  • Gross Margins: Currently around 70%, with plans to maintain and improve.
  • OpEx Strategy: Focused on strategic investments in EMR, MRD, and Pathomic, while reducing discretionary spending.
  • Revenue Growth: Targeting high single-digit to low double-digit growth long-term.
  • ASP Performance: Strong overall, despite headwinds from GeneSight.
  • Cost per Test: Improvements expected from Lab of the Future integrations.

Operational Updates

  • EMR Integrations: Completed 4,500 integrations last year, addressing challenges in unaffected hereditary cancer with Epic integration.
  • GeneSight: Redirected resources to focus on profitability after UnitedHealthcare’s coverage decision.
  • Prolaris: Enhanced commercial intensity through new staff and a partnership with Pathomic for AI integration.
  • PRECISE MRD: Demonstrated high sensitivity in detecting low-shedding tumors.
  • Lab of the Future: Largely complete, expected to drive future margin improvements.

  • Future Outlook

  • Hereditary Cancer: Anticipating mid-to-high single-digit growth, with programs like breast cancer risk assessment.
  • Molecular Profiling: Targeting high single-digit to low double-digit growth through Prolaris and comprehensive genomic profiling.
  • MRD: Expected double-digit growth, focusing on low-shedding tumors.
  • Prenatal Testing: Aiming to maintain or exceed market growth with new assays.
  • GeneSight: Growth expectations adjusted to low-to-mid-single-digit.

Q&A Highlights

  • MRD Testing: Potential applications beyond recurrence, including therapy de-escalation.
  • GeneSight: Challenges in demonstrating health economic value to UnitedHealthcare.
  • Investor Communication: Emphasis on conveying the clinical and economic benefits of Myriad’s tests.

In conclusion, Myriad Genetics remains committed to strategic growth and operational efficiency. For a deeper dive into the company’s plans and challenges, refer to the full transcript below.

Full transcript - Goldman Sachs 46th Annual Global Healthcare Conference: