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Wednesday, November 5, 2025

Zepp Health drops after earnings

 Zepp Health Corporation's stock price dropped significantly following the release of its third quarter 2025 earnings report. The unaudited financial results were announced early today, potentially disappointing investors with weaker-than-expected performance metrics, leading to heavy selling pressure during trading hours. This event aligns with recent analyst concerns and prior downgrades, amplifying the negative market reaction and highlighting ongoing challenges in the wearable technology sector.

https://finviz.com/quote.ashx?t=ZEPP&p=d


Why Is Biohaven Stock (BHVN) Down

 Biohaven BHVN -39.28% ▼ stock plummeted on Wednesday after the U.S. Food and Drug Administration (FDA) sent it a Complete Response Letter (CRL) for the clinical-stage biopharmaceutical company’s VYGLXIA New Drug Application (NDA). This NDA sought approval for VYGLXIA as a treatment for spinocerebellar ataxia (SCA), a group of inherited neurodegenerative disorders that affect the cerebellum and spinal cord, which leads to progressive loss of coordination and movement control.

https://www.tipranks.com/news/why-is-biohaven-stock-bhvn-down-40-today

Rigeel: Record Revenue and Raised Guidance Amid Strategic Challenges

 

  • Rigel Pharmaceuticals Inc (RIGLFinancial) reported total revenue of $69.5 million for the third quarter of 2025, including record net product sales of $64.1 million, a 65% year-over-year increase.
  • The company has raised its 2025 revenue guidance to $285 million to $290 million, reflecting anticipated growth of 55% to 59% compared to 2024.
  • Rigel Pharmaceuticals Inc (RIGL) has completed enrollment in the dose escalation phase of its Phase 1B study of R289, with promising preliminary safety and efficacy data.
  • The company is expanding access to its products internationally, with TAVALISSE now available in Japan, Europe, Canada, Israel, and South Korea.
  • Rigel Pharmaceuticals Inc (RIGL) reported a net income of $27.9 million for the third quarter, significantly higher than the $12.4 million reported in the same period of 2024.

Negative Points

  • The CNS disease program with Eli Lilly will be terminated, which may impact future collaboration opportunities in that area.
  • There is uncertainty regarding the competitive positioning of R289 in lower-risk MDS, as it is still early to determine its potential against competitors like RYTELO.
  • The company faces challenges in expanding its product portfolio through in-licensing and acquisitions, which are necessary for long-term growth.
  • Rigel Pharmaceuticals Inc (RIGL) has not provided specific guidance on gross-to-net rates by product, which may lead to uncertainty in financial projections.
  • The company is still evaluating options for a Rigel-led study in glioma, indicating potential delays in advancing this part of the development pipeline.

Q & A Highlights

Q: How do you see the competitive positioning of R289 in lower-risk MDS versus RYTELO, and would you consider a similar placebo-controlled study for a potential registrational study?
A: Lisa Rojkjaer, Executive Vice President, Chief Medical Officer, mentioned that it might be too early to speculate on this. The patient population for R289 is different from RYTELO's, as they are more heavily pretreated. The plan is to complete the dose expansion phase and then evaluate the activity in less heavily pretreated patients before deciding on the next steps. Raul Rodriguez, President and CEO, added that there is a broad range of opportunities for R289 in lower-risk MDS, both before and after Luspatercept.

Q: What level of data do you feel might be needed for priority review of R289, especially regarding reducing transfusions?
A: Lisa Rojkjaer explained that the fast track designation opens up potential for priority review. The data from the dose expansion part of the study will be crucial in determining the next steps.

Q: Can you provide benchmarks for the CONNECT study in glioma with IDH1 mutations?
A: Lisa Rojkjaer stated that this is a novel approach, focusing on maintenance therapy post-chemo radiation. The comparison will be against historical controls, as there is no specific data for this maintenance setting.

Q: What improvements in Q3 gross-to-net rates were observed, and what are the expectations for Q1 and Q4, especially under the Medicaid Part D redesign?
A: Dean Schorno, Chief Financial Officer, noted that favorable gross-to-net dynamics have been observed, driven by patient affordability and various factors like patient mix and legislation. Specific product-by-product guidance was not provided. David Santos, Chief Commercial Officer, added that improvements in patient services and distribution efficiency have also contributed to better gross-to-net outcomes.

Q: How are you setting expectations for the updated data at ASH for R289 in lower-risk MDS patients?
A: Lisa Rojkjaer mentioned that with the October 28 data cut-off, they will have 16 weeks of follow-up on all patients, including those in the 500-mg BID dose level. Raul Rodriguez added that they are eager to share this data set.

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

https://www.gurufocus.com/news/3184936/rigel-pharmaceuticals-inc-rigl-q3-2025-earnings-call-highlights-record-revenue-and-raised-guidance-amid-strategic-challenges

'Schumer And Jeffries Demand Meeting With Trump To End Record Gov't Shutdown'

 Update (0935ET):

"We write to demand a bipartisan meeting of legislative leaders to end the GOP shutdown of the federal government and decisively address the Republican healthcare crisis. Democrats stand ready to meet with you face to face, anytime and anyplace," Senate Minority Leader Chuck Schumer and Minority Leader Hakeem Jeffries wrote in a letter addressed to President Trump. 

This letter comes hours after the Washington Post reported that "a handful" of moderate Senate Democrats are ready to end the record government shutdown. 

Movement within the Democratic Party to reopen the government comes after last night's election victories, where leftists mostly wonincluding socialist Zohran Mamdani becoming New York City's next mayor. 

Latest Polymarket odds show just a 36% chance the government shutdown ends between Nov. 8 and Nov. 11.

 

Trump commented earlier...

And noted on Truth Social. 

The GOP has learned a lot after last night, especially that the new face of the Dems is the DSA. 

*   *   * 

A report overnight suggests that several moderate Senate Democrats are prepared to break ranks and vote to end what has become the longest U.S. government shutdown in history. The push to reopen the government comes conveniently after major victories for Democrats in Tuesday's elections, including socialist Zohran Mamdani becoming New York City's next mayor, and Abigail Spanberger and Mikie Sherrill winning their respective gubernatorial races in Virginia and New Jersey.

The Soros family is very happy. 

Washington Post reporters Riley Beggin and Theodoric Meyer cite multiple people familiar with the talks who say "a handful" of moderate Senate Democrats are ready to end the government shutdown.

Here's more color on those conversations:

A bipartisan group of senators is working to craft a deal in which Congress would pass three full-year appropriations bills to fund some agencies, along with a short-term bill that would reopen the rest of the government, according to four people familiar with the talks, who spoke on the condition of anonymity to describe private discussions. In exchange, Senate Republicans would agree to hold a vote at a set date on extending Affordable Care Act subsidies that are otherwise slated to expire. Democrats have insisted throughout the shutdown that the subsidies be extended.

About a dozen Senate Democrats are open to backing the proposal, three of the people estimated, which is still being hammered out — more than enough to break the impasse and reopen the government.

Democrats have used the government shutdown to push for the restoration of taxpayer-funded health insurance subsidies for illegal aliens. That funding stream was terminated when Republicans delivered working families tax cuts that include no tax on tips, overtime, and Social Security as well as major health care reforms earlier this year.

The report continued:

Sen. Gary Peters (D-Michigan), who has been a part of the negotiations, said Tuesday that "everything's on the table," adding that "the pace of talks have increased." Senate Democrats met for lunch Tuesday for nearly three hours to discuss the path forward. Those involved in the talks updated their colleagues on where they stand. Afterward, Peters said it was a "thoughtful" discussion: "It was one of the better caucus meetings I've been in in a while."

Republicans hold a 53-47 majority in the Senate. They need at least eight Democratic votes to overcome a filibuster and reopen the government. Sen. Rand Paul (R-Kentucky) remains opposed to the measure. A couple of lawmakers have already crossed the center aisle, including Sen. Angus King (I-Maine), Sen. Catherine Cortez Masto (D-Nevada), and Sen. John Fetterman (D-Pennsylvania, who support the GOP's clean continuing resolution. 

Last week, a Washington Post-ABC News-Ipsos poll found that most respondents blamed President Donald Trump and Republicans more than Democrats for the shutdown than blame Democrats. The informational war to pin the blame on Trump by Democrats, their billionaire funders, their corporate media allies, and their protest industrial complex comes as no surprise, given that this shutdown likely gave Dems a boost during last night's election. This is a firm warning to Republicans, serving as an early indicator of which national strategies will work in the 2026 midterms. 

 

https://www.zerohedge.com/political/democrats-weigh-ending-record-shutdown-conveniently-after-socialist-wins-nyc-mayoral-race

Commercial Technology Most Often Target Of Chinese Spies

 The case of a former aide to two New York governors who stands accused of excerting influence, falsifying documents, sharing information and carrying out shady business deals while receiving favors and kickbacks from the Chinese government and Chinese companies is expected to go to trial early this month.

While in many ways, the case of Linda Sun and her husband Chris Hu is not typical of Chinese espionage and influence in the United States, it is extremely brazen in nature and stands for a trend that experts say is growing.

The Center for Strategic and International Studies, which researched cases of Chinese espionage in the United States between the years 2000 and 2023, found that most of these cases involved Chinese citizens, not naturalized U.S. citizens like Sun and Hu.

As Statista's Katharina Buchholz details below, only 10 percent of cases involved non-Chinese actors.

Infographic: Commercial Technology Most Often Target of Chinese Spies | Statista

You will find more infographics at Statista

Furthermore, just 17 percent of cases had to do with U.S. government agencies (other than military ones) or U.S. politicians.

In fact, 54 percent of cases involved spying on military installations and technology, like in the case of two Chinese citizens residing in Oregon, who were accused in the summer of having spied on the U.S. Navy.

Another 29 percent of cases analyzed out of a total of 224 had to do with commercial espionage.

46 percent involved cyber espionagewhile others were carried out on the ground though agents and acquired assets.

A study undertaken by author Nicholas Eftimiades and published in the year 2020 likewise found that China had expanded its espionage efforts since the year 2000 and that mainly Chinese citizens and males were involved.

It identifies private as well as state-owned companies, China's Ministry of State Security, the Central Military Commission, other government offices and universities as actors carrying out espionage acts.

According to Eftimiades, these acts often target military and tech commercial technologies the country seeks to acquire in areas like clean energy, biotechnology, aerospace, information technology and manufacturing.

Geographically, cases in this second study focused heavily on California.

https://www.zerohedge.com/geopolitical/commercial-technology-most-often-target-chinese-spies

Soleno Therapeutics Third Quarter 2025 Financial Results, Update on U.S. Launch of VYKAT(TM) XR

Soleno Therapeutics (NASDAQ: SLNO) reported third quarter 2025 results and a U.S. launch update for VYKAT XR on November 4, 2025. Key highlights: Q3 product revenue $66.0M, net income $26.0M for the quarter, and $556.1M in cash, cash equivalents and marketable securities as of September 30, 2025 (includes $230M gross proceeds raised in July). From FDA approval on March 26, 2025 through Sept 30, 2025: 1,043 patient start forms, 764 active patients, and 494 unique prescribers. Q3 product revenue rose >100% sequentially vs Q2. Company noted contingent consideration fair value of $19.5M tied to commercial milestones.

PTC narrows revenue guidance



PTC Therapeutics (NASDAQ: PTCT) reported Q3 2025 total revenue of $211.0M and positive net income of $15.9M. The company initiated the global launch of Sephience (sepiapterin), recording $19.6M in Sephience revenue, 521 US patient start forms from 141 prescribers, and 341 patients on commercial therapy worldwide as of September 30, 2025.


Third-quarter product revenue was $131.0M with royalty and collaboration revenue of $80.1M (including $70.8M royalty from Evrysdi). Cash, cash equivalents and marketable securities were $1.688B at quarter end. PTC narrowed full-year 2025 revenue guidance to $750–$800M and projects GAAP R&D and SG&A of $805–$835M (non-GAAP $730–$760M).