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Thursday, April 23, 2026

9th Circuit Kills California's ICE Unmasking Law

 The 9th Circuit Court of Appeals handed the Trump administration a significant legal victory Wednesday, issuing a formal injunction blocking California's No Vigilantes Act from being enforced against federal law enforcement officers. The court ruled that the state law - which required non-uniformed federal agents to visibly display identification while performing their duties - likely violates the Supremacy Clause of the U.S. Constitution.

Carlin Stiehl/Los Angeles Times via Getty Images

The No Vigilantes Act, part of a two-bill package signed by Gov. Gavin Newsom in September, was California's legislative response to immigration enforcement operations in Los Angeles. 

The Trump administration had filed suit in November, contending the law created real and immediate dangers for ICE officers already facing what it described as harassment, doxing, and threats of physical violence. The Department of Justice argued that federal agents must retain discretion over their own safety protocols. "Denying federal agencies and officers that choice would chill federal law enforcement and deter applicants for law enforcement positions," the Justice Department wrote in its lawsuit.

The law's companion piece, the No Secret Police Act, had previously been blocked by a federal district court in February on the grounds that it discriminated against federal interests by applying the mask ban exclusively to federal officers. 

 "The No Vigilantes Act responds to troubling immigration enforcement activities in which masked agents have seized people off the street without showing an agency name, personal identification, or badge number, alongside a rise in law enforcement impersonation cases and efforts in other states to recruit bounty hunters for immigration enforcement," State Sen. Sasha Renée Pérez (D-Pasadena), who authored the legislation said back in September, adding that the measure would "help rebuild the community's trust."

The court clearly didn’t see it that way. 

The 9th Circuit's three-judge panel found that “The United States is likely to succeed on the merits of its claim that § 10 of the No Vigilantes Act violates the Supremacy Clause because § 10 attempts to directly regulate the United States in its performance of governmental functions.”

The court further determined that all other preliminary injunction factors favored the federal government, clearing the way for the injunction to take effect pending further court order.

The outcome was not unexpected. During oral arguments in early March, 9th Circuit judges were openly skeptical of California’s position that the identification requirement was analogous to generally applicable laws such as speed limits. The state argued the law treated all law enforcement equally, but the panel clearly didn’t buy the argument that such framing could justify states directly regulating federal operations.

Bill Essayli, First Assistant U.S. Attorney for the Central District of California, did not understate what the ruling meant in a post on X. "Huge legal victory this morning in the Ninth Circuit, where the court permanently enjoined California's unconstitutional mask law targeting federal agents," he wrote. 

The use of "permanently" may be premature — the injunction technically remains pending further court order — but the Supremacy Clause of the Constitution is quite clear, and there’s little reason to believe the No Vigilantes Act will survive.

https://www.zerohedge.com/political/9th-circuit-kills-californias-ice-unmasking-law

JPMorgan Readies Fresh Private Credit Push After Needling Market

 


After years weighing how to dive deeper into private credit, JPMorgan Chase & Co.’s $4.3 trillion asset manager is committing to a strategy that will plow tens of billions of dollars into loans sourced by the firm’s commercial bankers.

JPMorgan is talking with institutional investors to raise several billion dollars to get started and has already secured some commitments, according to two of the asset manager’s top executives, George Gatch and Bob Michele.

https://www.bloomberg.com/news/articles/2026-04-23/jpmorgan-readies-fresh-private-credit-push-after-needling-market

"Mo Hire, No Fire" Economy Emerges As ADP Surges With Jobless Claims Flat

 Following the surge in ADP's weekly job additions index earlier in the week...

Today we see that the number of Americans filing for jobless benefits last week was just 214k - hovering back near record lows...

Continuing jobless claims inched back above 1.8 million Americans last week but remains near two year lows...

So are we morphing from "no hire, no fire" to a "mo more, no fire" economy?

https://www.zerohedge.com/markets/mo-hire-no-fire-economy-emerges-adp-surges-jobless-claims-flat

AAN 2026: J&J, Kyverna, Capricor and Praxis showcase practice-changing data

 

This year’s American Academy of Neurology meeting included a presentation that could one day set a new treatment standard for myasthenia gravis.

After four days in Chicago, the 2026 cycle of the American Academy of Neurology’s annual meeting has wrapped up, featuring some of the newest developments in the field—some of which hold the potential to shape the treatment paradigm in the coming years.

BioSpace rounds up some of the most interesting presentations here.

J&J’s Imaavy maintains myasthenia gravis benefit over 2 years

In patients with generalized myasthenia gravis (gMG), continued treatment with Johnson & Johnson’s FcRn blocker Imaavy keeps disease symptoms at bay and maintains quality of life through two years of follow-up, according to new Phase 3 data released at AAN.

In the Phase 3 Vivacity-MG3 trial, the pharma enrolled more than 150 patients who had insufficient response to standard of care treatments and were given either Imaavy or placebo. Patients entered a 24-week double-blind phase of the study, after which they were transitioned into the ongoing open-label extension portion. Participants stayed on their standard-of-care regimens.

Data presented at AAN cover a total of 120 weeks of observation, J&J said in an April 22 news release, which is “among the longest follow-up periods reported for any FcRn blocker study in gMG.” Results showed sustained improvements on symptoms that affect patients’ daily living and continued reductions in disease severity.

Additionally, nearly 60% of patients on Imaavy were able to cut back on corticosteroid use, with some reaching daily doses of at most 5 mg.

Imaavy was approved in April last year for gMG in patients 12 years and up. J&J is continuing to develop the drug and in February filed an application for its use in warm autoimmune hemolytic anemia. The pharma is also running the first open-label, head-to-head gMG study comparing Imaavy against Argenx’s Vyvgart.

Kyverna’s CAR T therapy sets ‘new efficacy standard’ in myasthenia gravis

All patients treated with Kyverna Therapeutics’ CAR T candidate mivocabtagene autoleucel (miv-cel) saw “clinically meaningful” improvements in symptom severity, according to a Phase 2 gMG readout at AAN on Monday.

“We believe miv-cel is differentiated from current therapies and other late-stage assets by its magnitude of effect and durability, thereby setting a new efficacy standard in the field,” William Blair analysts wrote in an April 20 note. With Kyverna moving quickly toward a filing, the biotech “is poised to have the first FDA-approved CAR-T for the treatment of an autoimmune disease,” the analysts continued.

Miv-cel is an investigational autologous anti-CD19 CAR T therapy designed to stimulate CD28-bearing cells. Data presented at AAN come from seven gMG patients who received a single dose of miv-cel in the Phase 2/3 KYSA-6 study, a registrational single-arm trial. KYSA-6’s primary efficacy measure was improvements to patients’ daily life, as assessed through symptom severity and functional impairment.

Aside from improvements in patient-reported symptom burden, miv-cel treatment also led to deep depletion of B cells in all treated patients, with signs of “immune reset,” according to Kyverna. At week 24, all patients were able to stop treatment with non-steroidal immunosuppressants, high-dose steroids and FcRn and complement blockers.

Kyverna is currently enrolling patients in the Phase 3 portion of KYSA-6, the biotech said on Monday.

Capricor builds case for cell therapy ahead of August decision date for Duchenne

Capricor Therapeutics’ cell therapy deramiocel is currently undergoing FDA review for Duchenne muscular dystrophy, with a decision expected in August. While waiting, the biotech provided more data from its late-stage HOPE-3 trial, touting further functional improvements tied to the asset.

At 12 months, deramiocel slowed the deterioration of upper limb function by 54% versus placebo, as measured by a functional scale that assesses how well patients are able to perform certain tasks. This effect was statistically significant, according to a company presentation.

Using another assessment tool—one that relies on video assessments of how well a patient performs activities of daily living—HOPE-3 found that deramiocel could slow functional decline by 83%.

Deramiocel is composed of a rare subset of cardiac cells that reduce fibrosis and modulate the immune response. In July 2025, the FDA rejected deramiocel’s drug application, noting that it did not satisfy the “statutory requirement for substantial evidence of effectiveness.” Capricor refiled in December that year, boosting its data package with results from HOPE-3.

Praxis clears Phase 3 for essential tremor drug, nearing $3B+ market opportunity

Praxis Medicines is advancing the calcium channel blocker ulixacaltamide for essential tremor. At AAN, the biotech touted significant and durable improvements in activities of daily living. Jefferies analysts told investors that ulixacaltamide could secure FDA approval as early as January 2027 and access a market opportunity exceeding $3 billion at its peak, according to an April 21 note.

Praxis’ presentation at AAN comes after a topline readout in October 2025 demonstrated a 4.3-point improvement on a scale used to measure functional performance across 11 daily activities. Placebo comparators saw a 1.7-point statistically significant improvement.

These data remained unchanged in the AAN presentation, Jefferies noted.

Praxis at the conference also presented results from a withdrawal study, which randomized patients who had responded to ulixacaltamide to continue treatment or switch to placebo. According to Jefferies, 55% of those who stayed on ulixacaltamide remained responsive after 4 weeks, versus 33% of comparators who switched.

Ulixacaltamide is currently under FDA review for essential tremor, with a target action date of Jan. 29, 2027.

https://www.biospace.com/drug-development/aan-2026-j-j-kyverna-capricor-and-praxis-showcase-practice-changing-data

Thermo to update outlook on call

 

Thermo Fisher Scientific posts Q1 2026 EPS $5.44 (+6% YoY) on revenue $11.0B (+6% YoY), beating EPS and revenue estimates

  • GAAP EPS was $4.43 (+11% YoY), alongside adjusted EPS $5.44 (+6% YoY) reported for Q1 2026.
  • Company plans to update its full-year 2026 guidance during today’s earnings call.

West Pharma ups full year guidance

 

West Pharmaceutical beats Q1 2026 estimates with non-GAAP EPS $2.13 on $844.9M revenue, raises full-year 2026 guidance

  • Q1 2026 net sales grew 21% YoY to $844.9M, while non-GAAP EPS increased 47% YoY to $2.13.
  • Company guides Q2 2026 revenue range to $830–$850 million for the upcoming quarter.
  • Raises full-year 2026 revenue guidance to $3.3–$3.35 billion and adjusted EPS guidance to $8.40–$8.75.

Disputes in Iran's regime said to have halted US talks

 Disagreements between Iranian government officials and Supreme Leader Montaba Khamenei's spokespeople prevented Iran from taking part in a second round of negotiations with the United States, Iran International reported on Thursday. Delegations from the US and Iran were expected to arrive in the Pakistani capital of Islamabad this week, but Tehran said it will only participate if Washington ends its blockade of Iran's ports.

According to the report, Khamenei's office "reprimanded" the Iranian Foreign Ministry for "ignoring" its order and attending the first round of talks earlier this month. Meanwhile, Foreign Minister Abbas Araghchi argued that Khamenei's stance "effectively means a 'death sentence' for the negotiations with all its consequences."

https://breakingthenews.net/Article/Disputes-in-Iran's-regime-said-to-have-halted-US-talks/66134590