Replimune stock plunges after FDA cancer drug rejection details emerge

 Replimune Group Inc (NASDAQ:REPL) stock tumbled 36% premarket after STAT reported that the FDA’s top cancer drug regulator intervened late in the review process of the company’s skin cancer therapy, contributing to its rejection despite support from others within the agency.

According to information obtained by STAT from three FDA officials with direct knowledge of the matter, the regulator’s intervention in the review of Replimune’s drug, known as RP1, played a key role in the treatment’s last-minute denial. The report indicates that internal support existed for the therapy within the FDA before the senior official stepped in.

The rejection occurred amid broader turmoil at the FDA, which has been experiencing leadership changes, staff upheaval, and internal dysfunction. These organizational issues reportedly factored into the review process and ultimate rejection decision, with Replimune caught in the crossfire.

The STAT report clarified that Vinay Prasad, who has been criticized for taking a hard line in reviews before his departure from the agency, did not play a substantive role in the debate over Replimune’s therapy.

The revelation about mixed views within the FDA regarding RP1’s approval provides new context for investors who were already aware of the drug’s rejection but not the internal disagreement surrounding the decision.

https://www.investing.com/news/stock-market-news/replimune-stock-plunges-after-fda-cancer-drug-rejection-details-emerge-93CH-4167877

IDEXX Pet Health Care Firm Lifts Full-Year Outlook

 hares of IDEXX Laboratories (IDXX) soared more than 20% Monday morning after the pet health care company reported better-than-expected second-quarter results and raised its 2025 profit and revenue forecasts.

The Westbrook, Maine-based firm posted GAAP earnings per share of $3.63 on revenue that increased 11% year-over-year to $1.11 billion. Analysts  had expected $3.30 and $1.06 billion, respectively.

IDEXX lifted its full-year EPS projection to a range of $12.40 to $12.76 from the prior $11.93 to $12.43. It also raised its revenue outlook to $4.205 billion to $4.280 billion from $4.095 billion to $4.210 billion.

"Our focus on helping veterinarians gain deeper diagnostic insights to inform patient care continues to drive customer loyalty and sets a solid foundation for sustained long-term growth," IDEXX CEO Jay Mazelsky said.

With today's surge, IDEXX Laboratories shares have added more than 55% of their value in 2025.

https://finance.yahoo.com/news/idexx-laboratories-stock-jumps-pet-122930621.html

Zepp Health Revenue Up in Q2 2025 with Amazfit Success

 Zepp Health Corporation reported a significant 46.2% year-over-year revenue growth for the second quarter of 2025, reaching $59.4 million, driven by the success of its Amazfit products. This marks the company’s first overall revenue growth since 2021, highlighting the effectiveness of its strategic focus on the Amazfit ecosystem. The company introduced new products, including the Amazfit Balance 2 and Helio Strap, and welcomed prominent athletes to its brand ambassador team, which contributed to increased brand recognition and sales. Despite a narrowed net loss, Zepp Health’s gross margin remained stable, and the company anticipates continued growth in the third quarter with projected revenues between $72.0 million and $76.0 million, representing a 70% to 79% year-over-year increase.

https://www.tipranks.com/news/company-announcements/zepp-health-sees-revenue-surge-in-q2-2025-with-amazfit-success

FDA Green Light: CASI Drug Aims at Leading Cause of Kidney Transplant Failure

China based CASI Pharmaceuticals (NASDAQ:CASI) has received FDA clearance for its Investigational New Drug (IND) application for CID-103, a potential best-in-class anti-CD38 monoclonal antibody targeting renal allograft antibody-mediated rejection (AMR). The company plans to initiate a Phase 1 clinical trial to evaluate the safety, tolerability, and efficacy of CID-103 in adults with active and chronic active renal allograft AMR.

AMR is identified as a leading cause of kidney transplant failure, often resulting in dialysis or repeat transplantation. The Phase 1 study will focus on dose-ranging and safety assessments, addressing an urgent medical need in transplant medicine where current treatment options are limited.

https://www.stocktitan.net/news/CASI/casi-pharmaceuticals-announces-fda-clearance-of-ind-application-for-y38zmno03hya.html

BP strikes major oil discovery offshore Brazil, its largest in decades

 BP said on Monday it has made its largest oil and gas discovery in 25 years in Brazil's Santos basin, a so-called pre-salt area in deep water offshore which is believed to be a large reservoir of oil and gas.

BP returned its focus to fossil fuels last year to regain investor confidence and revive underperforming shares after a troubled push into renewable energy.

Its London-listed shares rose 1.4% in early trade.

BP, which has plans to grow its global oil and gas production to 2.3 million to 2.5 million barrels of oil equivalent a day in 2030, said this was its 10th discovery so far this year, following findings in Trinidad, Egypt, Brazil and others.

Production in 2024 was 2.4 million barrels of oil equivalent. BP expects production to be lower in 2025.

The oil major, which is planning to establish a new big production hub offshore Brazil, had secured the block in December 2022 in what it said were "very good commercial terms"

BP holds 100% participation in the Bumerangue block with Brazil's state-run company Pré-Sal Petróleo SA as the production sharing contract manager.

Results from the rig-site analysis indicate elevated levels of carbon dioxide, BP said, adding that it would start laboratory analysis, which would give more insight into the potential of the block.

BP is set to report its second-quarter results on Tuesday.

https://finance.yahoo.com/news/bp-strikes-major-oil-discovery-064121432.html

Adani Seeks Battery Tieup With China’s BYD in Renewables Push

 

The Adani Group is exploring a tieup with Chinese EV giant BYD Co. that would allow billionaire Gautam Adani’s conglomerate to manufacture batteries in India and extend its push into clean energy, according to people familiar with the matter.

Adani is personally heading discussions with BYD executives, which have taken place as recently as last week, one of the people said. Wary of diplomatic tensions between Beijing and New Delhi, any tieup will be signed with BYD’s subsidiaries in countries in the region, and not with its headquarters in Shenzhen, the people said, asking for anonymity to discuss private matters.

https://www.bloomberg.com/news/articles/2025-08-04/adani-personally-leading-tieup-talks-with-byd-to-manufacture-batteries-in-india

Texas Democrats seek to block redistricting vote by leaving state

 Democratic lawmakers in Texas said on Sunday they were leaving the state to deny Republicans the quorum needed to redraw the state’s 38 congressional districts, a move sought to protect the Republicans’ narrow U.S. House majority in next year’s midterm elections.

President Donald Trump has championed the redistricting plan, telling reporters he expects the effort to yield as many as five additional House Republicans. Republicans hold a narrow 220-212 majority in the House of Representatives, with three Democratic-held seats vacant after members’ deaths.

In a video shot in front of an airport, Democratic Representative James Talarico said the redistricting plan amounted to "rigging" the 2026 elections.

"If you’re seeing this video, my Democratic colleagues and I have just left our beloved state to break quorum and stop Trump’s redistricting power grab," Talarico said in the video posted on X on Sunday.

Several other Texas Democrats said on X they were headed to Illinois, whose governor is Democrat J.B. Pritzker.

States are required to redistrict every 10 years based on the U.S. Census but the Texas map was passed just four years ago by the Republican-dominated legislature. While mid-cycle redistricting occasionally takes place, it is usually prompted by a change in power at the legislature.

Republicans have pursued redistricting in a special legislative session that will also address funding for flood prevention in the wake of the deadly July 4 flash flooding that killed more than 130.

Under the current lines, Republicans control 25 seats, nearly two-thirds of the districts in a state that went for Trump last year by a 56% to 42% margin.

Redistricting experts have said the plan could backfire if Republicans try to squeeze too many seats out of what is already considered a significantly skewed map.

Republican Governor Greg Abbott’s office did not respond to a request for comment about the Democrats’ move on Sunday.

https://www.investing.com/news/world-news/texas-democrats-seek-to-block-redistricting-vote-by-leaving-state-4166899