The Federal Open Market Committee (FOMC) released its minutes from the December meeting on Tuesday, showing that some members suggested leaving interest rates unchanged after thelast cut.
On the other hand, according to the document, "most participants judged that further downward adjustments to the target range for the federal funds rate would likely be appropriate if inflation declined over time as expected." Additionally, some of the members who were in favor of the December cut implied that the move was "finely balanced."
Meanwhile, regarding inflation, a certain number of participants pointed out that additional cuts could be viewed as a "lack of commitment" to the 2% inflation target, since they saw the risk of higher inflation becoming "entrenched."
SELLAS Life Sciences (NASDAQ: SLS) provided an update on the pivotal Phase 3 REGAL trial of galinpepimut-S (GPS) in acute myeloid leukemia (AML) on Dec 29, 2025. The contract research organization reported 72 pooled events (deaths) as of Dec 26, 2025; the trial requires 80 events to trigger the event-driven final overall survival analysis. SELLAS remains fully blinded to efficacy and survival data and says this aggregate update does not affect planned statistical analyses. The company will announce when the 80th event occurs.
Additional context: the Independent Data Monitoring Committee previously recommended continuing the trial without modification.
The sharp rise in Jyong Biotech Ltd.'s stock price on December 30, 2025, during regular market hours stems from a technical rebound following intense selling pressure triggered by the mid-December lock-up period expiration. This event unlocked shares held by insiders and early investors, leading to a multi-day price collapse and heightened volatility in the low-float biotech stock. Traders appear to be engaging in short covering and bargain hunting as the stock stabilizes off recent lows around $2.78, amplified by the company's supportive fundamentals like recent Phase II trial enrollment completion. Trading volume spiked alongside the move, reflecting opportunistic positioning in a thinly traded name sensitive to sector flows and year-end dynamics.
As a blank check company pursuing a business combination with a hydrogen-focused entity, the stock's limited public float—reduced to under 4 million shares following heavy redemptions noted in recent SEC filings—amplified buying pressure during regular trading hours. This dynamic, combined with ongoing retail chatter about proxy approvals and deadline extensions from mid-December, triggered volatile spikes as traders bet on potential short-term squeezes. Volume surged alongside the move, reflecting speculative positioning rather than new operational news, though post-merger dilution risks from planned share issuance loomed large. Based on available reports, this extends momentum from the November shareholder vote greenlighting the complex merger structure.
Digital health firm Profusa restructures senior secured convertible notes, ending 2026 amortization, raising the conversion floor to $0.35 and boosting ELOC.
Ekso Bionics Holdings, Inc. (EKSO) shares jumped 102.93%, closing at $11.08, up $5.62, after Applied Digital announced plans to spin out its cloud business, a move investors interpreted as potentially unlocking value for affiliates, including Ekso.
The stock rallied following news that Applied Digital is pursuing a separation of its cloud segment into a standalone business, with proposed strategic actions aimed at sharpening operational focus and capital allocation.
A pair of Empire State snowbirds just learned it’s not easy to fly the coop.
An upstate couple who relocated to Florida is still on the hook for a $60,000 New York tax bill because they didn’t prove their Sunshine State pad was their main residence, the state tax panel ruled in a recent bombshell decision.
John Hoff and his wife, Kathleen Ocorr-Hoff, kept cashing paychecks here and didn’t give up their local country club memberships, the tax panel found in the decision — which could give pause to snowbirds splitting time between the Empire State and Florida.
The couple decided to retire to the warmer climes of Naples, Florida, and plunked down money for a ritzy $1 million three-bedroom, three-bath condo in the Sunshine State — but kept too many ties to Canandaigua, the Oct. 9 decision determined.
John Hoff and Kathleen Ocorr-Hoff relocated to Florida, but New York said they’re on the hook for a $60,000 tax bill.Facebook/Kathleen Hoff
Hoff and Ocorr-Hoff contended the proof of their move was they had registered vehicles in Florida and had bank accounts there, the 24-page ruling by the State of New York Tax Appeals Tribunal said.
Hoff also got a hunting and fishing license while Ocorr-Hoff said she started a business with a Florida address, the ruling said.
“We disagree that any of these factors are persuasive here, as each is unsubstantiated, not established to have occurred during the period in issue or contrary to the record,” the decision said.
Hoff, the founder of Global Point Technology, a successful upstate tech import/export company, and his graphic designer wife, married in 2008, according to the document.
In 2011, the couple bought the upstate home on Poplar Beach for $907,000 and settled in.
The Hoffs fell in love with Naples, Florida, and plunked down for a luxury condo with this stellar view, a new ruling said.Facebook/Kathleen Hoff
But Hoff and Ocorr-Hoff later “fell in love with the Naples area,” and planned an “exit strategy” to relocate to Florida, including Hoff planning to turn over the business to his grown son.
They bought the condo on Gulf Shore Boulevard in Naples in 2014 for $935,000 and even made another $200,000 in improvements, planning to make it their retirement home — and listed it as their primary residence in their 2018 and 2019 tax returns, the decision said.
The Hoffs moved their ski equipment and a valuable Waterford crystal collection into the condo, and signed up to vote, drive and hunt in Florida, and opened bank accounts as they began the transition.
They even joined a local country club, despite keeping two memberships in New York, with plans to spend winters down south and summer months back in their upstate ‘burb.
John Hoff and Kathleen Ocorr-Hoff turned in upstate New York for the warmer climes of Naples, Florida.Facebook/Kathleen Hoff
In 2018, they said they spent 186 days in New York, 131 in Florida and 48 days elsewhere, with the numbers going up to 164 days in New York, 153.5 in Naples and 47.5 somewhere else in 2019.
New York State tax officials said it wasn’t enough to make them legit Floridians.
Hoff’s plans to turn the business over to his son fizzled due to newly imposed tariffs on Chinese products, affecting the company’s bottom line, and despite reducing his work load he continued to play a key role in the company, the tax tribunal said.
More importantly, the two continued to earn income from their New York companies, including Ocorr-Hoff’s graphic design business, despite opening a new company in Florida.
In 2021, state tax officials hit the pair with a $59,648 tax bill for 2018 and 2019, with penalties.
John Hoff and Kathleen Ocorr-Hoff have to pay off a New York tax bill despite moving to Florida, state officials said..Facebook/Kathleen Hoff
The Hoffs challenged the bill, with the dispute ending up before an administrative judge.
“The administrative judge concluded that petitioners have not met their burden of proof to show that they changed their domicile for purposes of the tax law for the years at issue,” the judge ruled.
They appealed to the tribunal, which upheld the judge’s ruling in the October decision.
The couple could not be reached for comment Monday, and their attorneys did not immediately respond to a request for comment from The Post.
