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Tuesday, November 4, 2025

Zelensky: Ukraine doing everything to join EU

 Ukrainian President Volodymyr Zelensky said on Tuesday that Ukraine is "doing everything to gain EU membership" and that "it is crucial that our results are met with proper support in Europe."

In a post on his official X profile, Zelensky celebrated that "the Russian army has once again been forced to push back" its own military deadlines and claimed that "today we have the most positive European Commission report in three years." He emphasized that Ukraine is ready to open the clusters and continue talks even in wartime, which is "absolutely unprecedented across Europe," and that "every other EU member state has followed a much easier path."

He concluded by saying that Ukraine is waiting for the EU's decision on this matter and by thanking "everyone who is helping."

https://breakingthenews.net/Article/Zelensky:-Ukraine-doing-everything-to-join-EU/65117226

Trump admin seeks $149 weight-loss drug deal

 The Trump Administration is in discussions with Eli Lilly and Company and Novo Nordisk A/S to sell low-dose versions of their popular weight-loss drugs for $149 per month through TrumpRx, the Wall Street Journal reported on Tuesday. The plan would also expand Medicare and Medicaid coverage for the medications, according to the people familiar with the matter.

If finalized, Trump will probably announce the deals on Thursday at the White House, joined by pharmaceutical executives. The arrangement would cover drugs such as Novo Nordisk's Wegovy and Lilly's Zepbound, while Lilly's experimental pill orforglipron could be added if approved by the Food and Drug Administration (FDA).

The talks are part of the administration's broader effort to reduce US drug prices under its "most favored nation" initiative, following similar agreements already reached with Pfizer Inc. and AstraZeneca.

https://breakingthenews.net/Article/Trump-admin-seeks-dollar149-weight-loss-drug-deal/65117230

Aurinia Pharmaceuticals (AUPH) Boosts 2025 Revenue Guidance Amid Strong LUPKYNIS Sales

 Aurinia Pharmaceuticals (AUPH) reported a robust third quarter in 2025, with LUPKYNIS sales climbing 27% year-over-year, spurred by its inclusion in key treatment guidelines. Total revenue reached $73.5 million, marking an 8% increase from the previous year. The company raised its 2025 revenue outlook to $275-$280 million. Net income surged 119% to $31.6 million, while diluted earnings per share grew 130% to $0.23. Cash flow from operations also saw a significant boost, rising 162% to $44.5 million.

https://www.gurufocus.com/news/3182149/aurinia-pharmaceuticals-auph-boosts-2025-revenue-guidance-amid-strong-lupkynis-sales

CDER chief George Tidmarsh resigns as deleted LinkedIn post prompts Aurinia lawsuit, FDA probe

 High-ranking FDA official George Tidmarsh, M.D., Ph.D., has tendered his resignation after an unconventional LinkedIn diatribe landed the senior drug regulator at the center of a lawsuit and an internal probe.  

Tidmarsh was placed on administrative leave Friday as the FDA kicked off an investigation into the Center for Drug Evaluation and Research (CDER) head over a complaint lodged by Tidmarsh’s former colleague and healthcare investor Kevin Tang, Stat reported Sunday.

Capping off the tumultuous weekend, Tidmarsh on Sunday resigned from his post outright.

“On Friday, HHS placed Dr. Tidmarsh on administrative leave after the Office of the General Counsel and the Office of the Inspector General were notified of serious concerns about his personal conduct,” an Department of Health and Human Services (HHS) spokesperson confirmed to Fierce Pharma over email. “Sunday morning, George Tidmarsh resigned effective immediately.”

An unconventional LinkedIn diatribe against Aurinia Pharmaceuticals’ lupus med earlier this fall—posted and then swiftly deleted by Tidmarsh—dredged up longstanding animosity between the CDER chief and Tang.

The investigation—and a lawsuit filed by Aurinia Sunday—hinge on concerns that Tidmarsh used his regulatory authority at the FDA to attempt to retaliate against Tang, with the two having clashed at several points in recent years, including in 2019, when Tidmarsh was still CEO of La Jolla Pharmaceuticals. Tang is currently the chair of Aurinia’s board of directors and manages Tang Capital Partners, the drugmaker’s largest shareholder.

The HHS spokesperson did not address the motivation for the probe in the statement to Fierce, although an unnamed official told The Wall Street Journal that the questionable conduct brought to the agency's attention was related to Tidmarsh’s LinkedIn post. In a New York Times interview, Tidmarsh also said he was told his leave was tied to the social media broadcast. 

The HHS spokesperson stressed that HHS Secretary Robert F. Kennedy Jr. “expects the highest ethical standards from all individuals serving under his leadership and remains committed to full transparency.”

As part of the Trump administration’s new-look FDA, sitting Commissioner Marty Makary, M.D., tapped Tidmarsh to lead CDER in July, replacing acting head Jacqueline Corrigan-Curay, M.D., who herself was holding down the fort following the resignation of Patrizia Cavazzoni, M.D., at the top of the year. Cavazzoni stepped down from her post shortly before the start of President Donald Trump’s second term.

At the time, Makary said he would work with Tidmarsh to bolster the FDA’s drug programs, foster innovation and advance cross-agency initiatives to improve public health outcomes, although it wasn’t entirely clear what Tidmarsh’s priorities in the new role would be.

For some insight into the now-former CDER chief’s leanings, Tidmarsh has previously spoken about the need for the FDA to “remove harmful, useless drugs from the market” and rebuked instances of scientific misconduct and fraud in academic science. 

Many of those claims have been laid out in various posts on Tidmarsh’s personal LinkedIn, a practice that appears to have come back to bite the biopharma veteran.
 

The social media post
 

In Tidmarsh’s now-deleted post on Aurinia’s lupus nephritis med Lupkynis, the former FDA official said the drug, also known as voclosporin, carries “significant toxicity,” adding that the medicine “has not been shown to provide a direct clinical benefit for patients.”

Tidmarsh went on to assert that the FDA would be “taking a close look at the use of surrogate endpoints to see where we can further accelerate promising drugs faster while requiring companies to perform the trials necessary to confirm actual clinical benefit.”

But that statement came as a bit of a non sequitur. The FDA’s early 2021 nod for Lupkynis conferred a full, standard approval, whereas the use of surrogate endpoints in drug approval applications is typically only used for accelerated green lights.

Before deleting his post, Tidmarsh clarified that the views expressed were his own and did not reflect the outlook of the FDA itself. Naturally, Aurinia sees the situation differently.

In the lawsuit brought against Tidmarsh in Maryland federal court, Aurinia and its U.S. subsidiary are accusing him of making “false and defamatory statements” against the company and its drug over a “longstanding personal vendetta against Kevin Tang.”

Lawyers for Aurinia linked the grudge to an incident in 2019, when “growing concerns over Dr. Tidmarsh’s management of La Jolla Pharmaceutical Company” prompted Tang, in his capacity as board chair, to ask for Tidmarsh’s resignation as the company’s CEO. Around that same time, Tang also requested that Tidmarsh hang up his hat at other companies where Tang chaired the board, like American Laboratories and Odonate Therapeutics, according to the lawsuit.

In the subsequent six years, Tidmarsh has “repeatedly threatened that he would exact revenge against Mr. Tang over these ousters,” Aurinia’s legal team contends. Over that span, Tidmarsh allegedly sent texts and emails to Tang and his associates threatening that the biopharma investor would “be exposed,” that there was “[m]ore bad karma to come,” that “[t]he pain is not over,” and that Tidmarsh was “[n]ot powerless,” according to the legal filing.

Aside from the Lupkynis LinkedIn post, Tidmarsh purportedly used his role at CDER to push the FDA to “effectively remove” desiccated thyroid extract (DTE) products from the U.S. market earlier this year, Aurinia’s lawyers argued. DTE products are used to treat hypothyroidism.

This move, which Aurinia’s legal team suggests was targeted, cut off a key source of income for the Tang-affiliated company American Laboratories, the lawsuit claims.

Tidmarsh then allegedly tried to leverage the situation to “extort and solicit a bribe from Mr. Tang in exchange for Dr. Tidmarsh using his power to reverse or otherwise mitigate the adverse impact on Mr. Tang, Tang Capital, and American Laboratories,” the suit continues.

The plaintiff lawyers claim Tidmarsh next targeted Aurinia on his LinkedIn account after Tang “refused to submit to this shocking abuse of power.” They argued that Tidmarsh’s statements around Lupkynis sent Aurinia’s stock price plummeting “in a matter of hours,” erasing more than $350 million of the company’s market value. Over the course of October, Aurinia's stock price recovered from the incident.
 

Agency in disarray
 

Tidmarsh, for his part, told The New York Times that he thinks the FDA review of his actions was itself retaliatory and tied to concerns he raised last week about the agency’s new national priority review voucher program.

“The effort was going to basically change the entire paradigm of the legal underpinnings of drug approvals that have for decades supported the actions on the safety and effectiveness of drugs,” Tidmarsh said in the NYT interview. “There was insufficient legal support for what they wanted to do, and so I didn’t agree.”

Tidmarsh went on to describe a “toxic environment” at the agency under the FDA’s chief science and medical officer, Vinay Prasad, M.D., and denied in the interview that he was interested in exacting revenge on his former colleague Tang.

Aside from deep staff cuts under the Trump administration’s government efficiency drive earlier this year, the FDA and HHS, more broadly, has also seen significant turnover in 2025 among high-ranking leaders.

Most recently, HHS pushed out Centers for Disease Control and Prevention (CDC) Director Susan Monarez, Ph.D.—less than a month after her confirmation—as the former director claimed she was “targeted” by Kennedy’s health department after refusing to “rubber-stamp unscientific, reckless directives and fire dedicated health experts.” Several prominent CDC leaders resigned in protest following Monarez’s forced departure.

Prasad's tenure at the FDA has also been marked by turbulence. Back in July, Prasad resigned less than three months into his role as head of the agency's Center for Biologics Evaluation and Research (CBER) after a regulatory back-and-forth involving Sarepta's gene therapy Elevidys.

Prasad was reinstated to his role at the FDA's request a little less than a week later. 

Also at FDA's CBER, Prasad's predecessor, Peter Marks, M.D., Ph.D., resigned abruptly from his role in late March. In a subsequent interview with the Associated Press, Marks suggested he had been forced out for refusing to give RFK Jr.—a noted vaccine skeptic—unfettered access to the U.S.’ federal vaccine injury reporting system.

“It was pretty clear that either I was going to resign or they were going to fire me,” Marks told AP at the time. 

https://www.fiercepharma.com/pharma/cder-chief-tidmarsh-resigns-deleted-linkedin-post-blasting-lupkynis-prompts-aurinia-lawsuit

Reagan Airport Resumes Flight Operations After Bomb Threat

 Update (1308ET):

After Ground Control at Ronald Reagan Washington National Airport (DCA) informed United Airlines Flight 512, "I'm sorry, I have to do this to you… we have an unconfirmed bomb report for your flight," the jet was directed to an outer perimeter runway where passengers and crew were evacuated as law enforcement searched the aircraft.

DCA authorities are preparing to reopen Runway 1 for departures.

DC airspace is a mess.

It's the worst possible time for a bomb threat, as a shortage of air traffic controllers on day 35 of the government shutdown risks snarling flights. 

*   *   *  

All flights in and out of Reagan National Airport in Arlington, Virginia, have been disrupted due to what appears to be a security situation involving an arriving United Airlines flight around lunchtime. 

"All flights in and out of Reagan National Airport are currently halted due to a bomb threat on a flight. The plane is isolated on the east end of the field," CNN reporter Pete Muntean wrote on X. 

AirNav Radar shows video of the United Airlines jet being moved to the east side of the airfield as a precaution.

Developing...

https://www.zerohedge.com/political/all-flights-halted-reagan-airport-after-bomb-threat-arriving-united-airlines-jet

Stock Market Today: Sell-Off Includes Bitcoin Names; 'Big Short' Burry Bets Against Palantir, Nvidia



Selling remained heavy on the Dow Jones Industrial Average and other major stock indexes Tuesday, as valuation worries hit high-flying tech stocks. Among the victims, Nvidia (NVDA) and Palantir Technologies (PLTR) fell after "Big Short" investor Michael Burry disclosed bets against the artificial intelligence leaders. Meanwhile, bitcoin stocks felt the pressure on the stock market today.

The Dow gave up 0.6% in afternoon trade with Nvidia its biggest loser. The Nasdaq composite showed a 1.7% drop, and the S&P 500 retreated 1%, with Palantir stock sliding 8%. Small-cap stocks on Tuesday also felt pain, illustrated by the Russell 2000 index giving up 1.4%.

Nvidia gave up more than 3%. Burry's Scion Asset Management disclosed purchases of put options against Nvidia and Palantir late Monday. The firm's quarterly 13F filing with the Securities and Exchange Commission revealed it bought put options amounting to $187 million of Nvidia stock as of Sept. 30 and put options against Palantir valued at $912 million.

Burry, famed for his bet against the housing market in 2008, recently posted messages on X that suggested he is concerned about a market bubble and deals in the AI space.

Broadly in Tuesday's trade, volume was lower on both the Nasdaq exchange and the New York Stock Exchange vs. Monday. On the Nasdaq exchange, falling stocks topped rising issues by more than 3-to-1. On the NYSE, losers beat gainers by nearly 5-to-3.

Cryptocurrency stocks also got hit on Tuesday. Bitcoin improved from earlier lows and toppled nearly 5% to around $101,500 as investors grew weary of risk-on trades amid the scrutiny of current AI stock valuations. It had dipped under the $100,000 price level earlier before retaking the psychological benchmark.

Cryptocurrency platform operator Coinbase Global (COIN) shed more than 6%. Shares fell further below their 50-day moving average in a consolidation pattern with a 444.64 buy point.

Bitcoin miner Mara Holdings (MARA) relinquished nearly 5% and also dug deeper below its 50-day line. Mara stock gave back gains after breaking out of a cup base with a 21.50 entry point. Shares had already triggered the 7% sell rule.

Fellow bitcoin miner Riot Platforms (RIOT) also shed nearly 5% and is back below its 21-day exponential moving average. Shares are extended from the 25% profit zone of a cup base with a 15.34 buy point.

Lastly, CleanSpark (CLSK) lost roughly nearly 5%. The bitcoin mining services provider has fallen 29% from its 52-week high of 23.61, reached on Oct. 15.

Leaders at Goldman Sachs (GS) and Morgan Stanley (MS) voiced their views about a potential significant stock market pullback at a Hong Kong summit Tuesday.

Goldman Sachs Chief Executive David Solomon reaffirmed his recent concern that investors will likely see "a 10% to 20% drawdown in equity markets sometime in the next 12 to 24 months," The Wall Street Journal quoted Solomon as saying at the Global Financial Leaders Investment Summit.

But he also didn't think equities were in immediate danger of such a drawdown, as some stocks are at record highs. "It's a pretty constructive environment," Solomon said.

Morgan Stanley Chief Executive Ted Pick said investors should "welcome the possibility that there would be drawdowns, 10% to 15% drawdowns that are not driven by some sort of macro cliff effect," according to the report.

Both Goldman Sachs and Morgan Stanley beat third-quarter profit and sales estimates in mid-October. Dow stock Goldman is rising around more than 1%% Tuesday in a stage-two flat base with a 825.25 buy point.

Morgan Stanley stock is climbing about 1% and trading near its all-time high of 167.13, reached on Oct. 28. Shares are extended after a relentless climb after a breakout from a double-bottom base in May. Shares rode their 10-week moving average up with two successful tests of the line in October.

Elsewhere Tuesday, the Invesco QQQ Trust (QQQ) fell 1.6% and the SPDR S&P 500 ETF (SPY) gave back 1%.

Meanwhile, the 10-year Treasury yield eased two basis points to around 4.09%. Oil prices fell to around $60.70 a barrel. Bitcoin slumped more than 5% to trade around $101,100.
11:17 a.m. ET
Stock Market Today: Uber Hits A Roadblock
Ride hailing giant Uber Technologies fell more than 6% in heavy volume even after topping third-quarter earnings and revenue expectations.

Its bottom line got a boost from tax and investment benefits, but Uber's operating income missed estimates. Investors may have been further disappointed in its fourth-quarter gross bookings guidance of $52.25 billion to $53.75 billion. And its adjusted EBITDA of $2.46 billion, a measure of profitability, came up shy of the $2.47 billion consensus forecast.

Uber stock undercut its 50-day moving average in a late-stage flat base with a 101.99 buy point.

Bitcoin mining company Hut 8 (HUT) also cut larger morning losses to around 4.5% even after the bitcoin mining infrastructure provider exceeded third-quarter profit and sales projections. The stock has gotten extended and has climbed nearly 150% so far this year.

Norwegian Cruise Line (NCLH) hit rough waters and ceded more than 12% after it missed third-quarter sales estimates and gave full-year 2025 profit guidance that left investors wanting more.

The cruise line stock fell further below its 50-day line and plunged below its 200-day moving average. Shares have lost around 22% year to date.
9:47 a.m. ET
Nasdaq 100 Winners, Losers: Exelon, Micron

Among the Nasdaq 100 stocks, Exelon (EXC) and Marriott International (MAR) climbed more than 2% each, making them some of the best gainers at the market open.

Meanwhile, Micron Technology (MU) and Strategy (MSTR) sold off more than 4% each.
9:06 a.m. ET
Dow Jones Movers: Amazon, Apple, Microsoft

Inside the blue chip index, Amazon (AMZN), Apple (AAPL) and Microsoft (MSFT) were among the early losers in premarket trading.

Amazon shares declined more than 2%, set to end a two-day winning streak that saw the stock break out past a 238.85 buy point.

Apple stock moved down 0.8%, on pace to extend a losing streak to three sessions. And Microsoft stock lost 0.7%, threatening to make it five straight down days.
8:32 a.m. ET
Stock Market Today: Nvidia And Tesla Sell Off

Nvidia shares declined nearly 2% Tuesday morning, threatening to erase a corresponding gain from Monday. The stock made a new high last week and is extended past a recent buy point at 184.48.

Meanwhile, Tesla stock skidded nearly 3% premarket. On Monday, the electric-vehicle giant topped an early buy point at 467, but is set to open below that entry.
8:07 a.m. ET
Stock Market Today: Palantir Sells Off After Earnings

Palantir stock plunged more than 7% Tuesday morning even after the company reported third-quarter earnings and revenue that topped Wall Street targets, boosted by U.S. government and commercial growth. The company's fourth-quarter revenue forecasts also came in above expectations.

In the third quarter, Palantir earnings were 21 cents on an adjusted basis, doubling from a year earlier. Revenue climbed 63% to $1.81 billion, the software maker said.

Analysts expected Palantir to report adjusted profit of 17 cents per share and revenue of $1.09 billion. September-quarter revenue beat estimates by 8%, roughly the same as in the previous quarter.

On Monday, Palantir shares made another new high, with a 3.4% advance. Shares closed about 12% above a 188.20 buy point.

https://www.investors.com/market-trend/stock-market-today/dow-jones-sp500-nasdaq-palantir-earnings-pltr-stock-2/

https://nypost.com/2025/11/04/us-news/nyc-mayoral-election-live-updates-results-reactions-from-races-across-the-city/