Oracle's financing announcement is a 'clearing event,' BNP Paribas says

 Amid fears that Oracle (ORCL) could raise as much as $100B in debt to fund its ambitious artificial intelligence endeavors, investment firm BNP Paribas believes the number is much smaller than that.

“We estimate 'only' an additional $25 to 30B is needed to fund Oracle's infrastructure build,” BNP Paribas analyst Stefan Slowinski wrote in a note to clients. Slowinski said the new $25B to $30B in debt is needed in addition to the recent $18B issuance, but it's markedly lower than some investors have feared.

“Given [Oracle Cloud Infrastructure] carries high cash margins, we believe the company can withstand a higher debt-load and management could also pursue alternative financing options (such as vendor financing) to mitigate upfront cash outlays,” Slowinksi added. He has an Outperform rating on Oracle but lowered his price target to $290 from $430, due in part to higher capital spending and changes in foreign exchange rates.

In addition, Slowinksi said the market is currently pricing in only “minimal upside” from Oracle's partnership with OpenAI (OPENAI), including its $300B data center capacity deal.

“We calculate ~84% of Oracle's current valuation is now underpinned by its non-AI segments,” Slwoinksi added. “We see [Oracle Cloud Infrastructure] potentially contributing ~$13 of EPS by FY30 by our estimate, suggesting there's asymmetric upside if Oracle can deliver even close to its [Oracle Cloud Infrastructure] targets.”

https://www.msn.com/en-us/money/topstocks/oracle-likely-to-ease-fears-by-only-adding-roughly-30b-in-debt-bnp-says/ar-AA1Rz2jJ

Humana downgraded to Underweight from Equal Weight at Morgan Stanley

 Morgan Stanley downgraded Humana (HUM) to Underweight from Equal Weight with a price target of $174, down from $262. The firm says the company’s 2026 bid strategy and policy risk may slow its margin turnaround. The “disappointing” Medicare Advantage advance rate notice adds 2027 pressure for Humana and a new policy overhang across Medicare Advantage where the company is “disproportionately exposed,” the analyst tells investors in a research note.

https://www.tipranks.com/news/the-fly/humana-downgraded-to-underweight-from-equal-weight-at-morgan-stanley-thefly

Lavrov, Cuban FM hold talks on bilateral ties

 Russian Foreign Minister Sergey Lavrov spoke by phone on Monday with his Cuban counterpart, Bruno Rodriguez Parrilla, to discuss priority areas of "bilateral cooperation" and key issues on "the international agenda."

"The Russian side reaffirmed its principled position regarding the unacceptability of economic and military pressure on Cuba, including the disruption of energy supplies to the island, which threatens to seriously worsen the economic and humanitarian situation in the country. A firm commitment to continue providing Cuba with the necessary political and material support was expressed," Russia's Foreign Ministry statement read.

The ministers also reviewed the schedule for upcoming Russian-Cuban engagements.

https://breakingthenews.net/Article/Lavrov-Cuban-FM-hold-talks-on-bilateral-ties/65588741

Netanyahu: Israel is ready for 'every scenario'

 Israeli Prime Minister Benjamin Netanyahu stated on Monday that Israel is prepared for "every scenario" regarding heightened tensions in the region and the situation surrounding Iran.

"We are alerted and prepared for every scenario. Whoever attacks us will face unbearable consequences," the prime minister declared in a speech to the Knesset.

According to several reports, Netanyahu is expected to meet United States Special Envoy to the Middle East Steve Witkoff tomorrow in Israel.

https://breakingthenews.net/Article/Netanyahu:-Israel-is-ready-for-'every-scenario'/65589067

'Starmer: UK seeks to put ties with China on stable footing'

 British Prime Minister Keir Starmer said on Monday that his trip to China last week aimed to put the bilateral relationship "on a more stable footing," accusing the previous Conservative government of "eight years of missed opportunities" in which no prime minister visited Beijing.

"It would be impossible to safeguard our national interests without engaging with China," Starmer told the House of Commons. He said that he held "positive and constructive" discussions with Chinese President Xi Jinping and senior officials, which "covered a full range of issues, from strategic stability to trade and invesment, opening a direct channel of communication to deliver in the national interest, enabling us to raise frank concerns about activities that impact our national security."

https://breakingthenews.net/Article/Starmer:-UK-seeks-to-put-ties-with-China-on-stable-footing/65589098

Sanofi Rare Disease Drug Scores a Hit and a Miss in Phase III Tests

 

Sanofi will take venglustat to regulators for Gaucher disease but an application for Fabry disease is less clear after the failure of a Phase III trial.

Sanofi’s rare disease drug venglustat split a pair of Phase III clinical trials, with success in Gaucher disease but failure in Fabry disease.

The French pharma reported Monday that the glucosylceramide synthase inhibitor (GCSi) spurred neurological improvements in patients with Gaucher who had neurological manifestations. Gaucher is a rare, inherited lysosomal disorder that leads to the buildup of fatty substances in tissue.

In terms of improving neurological symptoms, venglustat outperformed enzyme replacement therapy (ERT), which is the standard of care, at week 52 in the late-stage LEAP2MONO trial. The drug also matched ERT on non-neurological outcomes, such as spleen volume, liver volume and hemoglobin levels, which were key secondary endpoints. On the basis of these results, Sanofi plans to take venglustat to regulators for Gaucher disease.

In Fabry disease, however, the outcome was not as positive. Sanofi reported that the Phase III PERIDOT trial did not meet its main goal of reducing neuropathic and abdominal pain, however, there were reductions in markers of both.

Sanofi is also studying the effect of venglustat on left cardiac ventricular mass index in men and women who have Fabry disease. The Phase III test is ongoing.

The company did not reveal its regulatory plans for Fabry, besides analyzing the results further and waiting for the additional late-stage test.

Sanofi has experience with both diseases; the French pharma manufactures Fabrazyme, an ERT for Fabry, as well as Cerezyme and Cerdelga for Gaucher.

The FDA previously granted fast track designation to venglustat for both Gaucher and Fabry disease. The drug has had a bit of a rocky ride through the clinic so far. In 2024, Sanofi canned a Phase II test of venglustat in the rare genetic disorder GM2 gangliosidosis after a clinical failure, and in 2021, a Phase II/III trial was axed for kidney disease.

https://www.biospace.com/drug-development/sanofi-rare-disease-drug-scores-a-hit-and-a-miss-in-phase-iii-tests

GSK Hands RNA Editor Back to Wave After Underwhelming Early AATD Data

 

While GSK did not provide a specific reason for returning Wave Life Sciences’ WVE-006, the decision comes after the asset in September 2025 came below analyst expectations in a Phase Ib/IIa AATD study.

GSK is letting go of Wave Life Sciences’ RNA editing oligonucleotide WVE-006, which the companies were jointly developing for alpha-1 antitrypsin deficiency.

The pharma has not said why it returned the asset to Wave, but the move comes months after a disappointing Phase Ib/IIa readout last September.

“The news comes as a bit of a surprise, but we think it makes sense as GSK may be more interested in large indications, such as COPD,” Truist Securities analysts wrote in an investor note Monday morning. “It appears GSK may have decided that AATD may be a more niche program for them.”

The September data drop showed 11.9uM of alpha-1 antitrypsin (AAT) protein in patients treated with repeat injections of a 200-mg dose of WVE-006. While Wave at the time called this outcome “therapeutically relevant,” analysts were not as enthused. Truist analysts said at the time that they were expecting AAT levels to hit 12uM and above, meaning the readout was “exceedingly close” but still “came in below buyside expectations.”

Nevertheless, Truist remained optimistic, noting that the higher dose of 400 mg “could drive total AAT well into the 13uM+ range.” Data for this dose is expected in the first quarter of 2026, while additional findings for a 600-mg single dose and from multidose cohorts are coming later this year, according to a Monday news release.

That GSK pulled out of the WVE-006 partnership prior to these additional readouts is important, the Truist team said Monday, meaning “there should not be any read-through to forthcoming AATD data.”

Despite turning its back on WVE-006, GSK appears to still want Wave as a collaborator. Tony Wood, the pharma’s chief scientific officer, said in a statement on Monday that “our research collaboration with Wave continues with exciting opportunities ahead.”

The companies first got together in December 2022, when the pharma fronted $170 million—and put up to $3.3 billion on the line in milestones—for an exclusive global license to WVE-006. Also part of this agreement, however, is access to the biotech’s PRISM platform, which can produce oligonucleotides for RNA silencing and editing, among other potentially therapeutic functions. All told, GSK planned to use PRISM to advance up to eight preclinical programs.

Last month, the pharma selected a fourth program to go ahead with, according to Monday’s release. Validation work is ongoing across several therapy areas. If these programs move forward, Wave could still win up to $2.8 billion in initiation, development, launch and commercialization milestones, plus tiered royalties, according to the biotech’s release.

Even without these contingent payments, the biotech expects that its cash runway will provide funding into the third quarter of 2028. As of Sept. 30, 2025, the company had $196.2 million in cash and equivalents.

https://www.biospace.com/business/gsk-hands-rna-editor-back-to-wave-after-underwhelming-early-aatd-data