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The Securities and Exchange Commission on Monday said two related Robinhood broker-dealers agreed to pay $45 million in combined penalties to settle administrative charges that they violated more than 10 separate securities law provisions related to their brokerage operations.

The violations by Robinhood Securities LLC and Robinhood Financial LLC are related to failures to report suspicious trading in a timely manner, failing to implement adequate identity theft protections and failing to adequately address unauthorized access to Robinhood computer systems, the SEC said.

The two Robinhood entities also had longstanding failures to maintain and preserve electronic communications, failed to retain copies of operational databases, and failed to maintain some customer communications as legally required between 2020 and 2021, according to the agency.

The SEC said that Robinhood Securities alone failed for more than five years “to provide complete and accurate securities trading information, known as blue sheet data” to the agency.

According to an SEC order made public Monday, “During the [Electronic Blue Sheets] Relevant Period, in response to requests from the Commission, Robinhood Securities made at least 11,849 EBS submissions to the Commission that contained inaccurate information or omissions, resulting from eleven types of errors.”

“Those errors resulted in the misreporting of EBS data for at least 392 million transactions,” the order said.

Sanjay Wadhwa, the acting director of the SEC’s Division of Enforcement, in a statement, said, “It is essential to the Commission’s broader efforts to protect investors and promote the integrity and fairness of our markets that broker-dealers satisfy their legal obligations when carrying out their various market functions.”

“Today’s order finds that two Robinhood firms failed to observe a broad array of significant regulatory requirements, including failing to accurately report trading activity, comply with short sale rules, submit timely suspicious activity reports, maintain books and records, and safeguard customer information,” Wadhwa said.

Robinhood Markets General Counsel Lukas Moskowitz, in a statement, said, “We are pleased to resolve these matters. As the SEC’s order acknowledges, most of these are historical matters that our broker-dealers have previously addressed.”

“We are well-positioned to continue leading the industry in developing the innovative products and services our customers want and need to participate in U.S. and global financial markets,” Moskowitz said. “We look forward to working with the SEC under a new administration.” 

This post appeared first on NBC NEWS

Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers.

The deal represents a reversal from previous plans to build an arena in the Center City district of Philadelphia.

Harris Blitzer and Comcast Spectacor have entered into a binding agreement for a 50-50 stake in the project at South Philadelphia’s Sports Complex, which is slated to open in 2031. It will include the revitalization of Market East in Center City, the original proposed location for an arena. In December, the Philadelphia 76ers received approval to build a $1.3 billion arena downtown after more than two years of contentious negotiations.

The deal announced Monday will give Comcast a minority stake in the 76ers and naming rights to the arena. The Philadelphia-based company will also join HBSE’s bid to bring a WNBA team to the Liberty City.

Comcast Spectacor is already majority owner of the Philadelphia Flyers.

“From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve,” said HBSE’s Josh Harris, David Blitzer and David Adelman in a statement. “By coming together with [Comcast CEO Brian Roberts] and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

In committing to both investments, the companies say they will create thousands of jobs and generate billions of dollars in economic activity for the region.

“This has the potential to benefit our city for generations to come,” said Philadelphia Mayor Cherelle Parker during a news conference Monday.

Disclosure: Comcast is the parent company of CNBC.

This post appeared first on NBC NEWS

The pharmaceutical industry is poised for a dynamic year in 2025. A confluence of positive trends suggests a brighter outlook ahead after declining earnings in recent years.

According to ZS consultant Cody Powers, lower interest rates could increase investment in biopharma, boosting research and development (R&D) into promising new indications, mergers and acquisitions (M&A) and clinical trials.

Industry executives polled for Deloitte’s 2025 life science outlook anticipate revenue growth and margin expansion, leading to increased investment in key therapeutic areas such as oncology, immunology, neurology and, of course, treatments for obesity and diabetes. This renewed focus on innovation, coupled with a changing regulatory environment, is expected to drive interest in the sector that could reshape the competitive landscape.

Key therapeutic areas in 2025

PurpleLab data (via Axios) shows roughly a 10 percent increase in sales for GLP-1s in 2024, with continued growth predicted for 2025 due to sustained demand, according to Evaluate’s 2025 Pharma Preview.

After exceeding US$1 billion in 2024, the most recent forward-looking projections of GLP-1 sales from industry leaders Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY) are strong, with Novo aiming to capture more than a third of the global market share of diabetes care in 2025.

To keep up with demand, both companies are addressing previous production constraints by expanding manufacturing capacity. Novo Nordisk acquired contract manufacturer Catalent in a US$16.5 billion deal, finalizing the sale in December 2024 and securing itself as a key player in the supply chain. Meanwhile, Eli Lilly is bolstering its internal manufacturing with a new US$4.5 billion manufacturing and research and development (R&D) center in Indiana slated to open in late 2027.

In the meantime, Lilly is also expanding its existing facility in Wisconsin and has reportedly partnered with CDMOs National Resilience and BSP Pharmaceuticals to meet immediate needs.

Beyond manufacturing, both companies are making strategic moves to maintain their market dominance amidst the entry of biosimilars from corporations like Teva Pharmaceuticals and pharma companies in China.

Eli Lilly’s partnership with digital health company Ro expands patient access to its medications via telehealth, while its lower-priced single-dose vials of Zepbound lower the cost barriers for the self-pay market.

Moreover, innovation remains a key driver. Eli Lilly is actively testing tirzepatide for indications against MASH and chronic kidney disease and its oral GLP-1 agonist orforglipron is in Phase III trials for obstructive sleep apnea in addition to obesity and type II diabetes.

Novo Nordisk is also exploring new indications for semaglutide, including MASH, and as a potential treatment for Alzheimer’s disease.

According to Evaluate analysts, the field of oncology continues to be another evolving area within the pharmaceutical industry. While traditional cancer treatments remain relevant, there has been a notable shift in R&D focus towards more targeted approaches.

Antibody-drug conjugates (ADCs) have emerged as a promising avenue in oncology research in recent years and have shown potential in improving treatment outcomes for various types of cancer. Clinical trials examining the efficacy of Merck’s (NYSE:MRK) Keytruda, an immune checkpoint inhibitor, with various ADCs showed promising results compared to standard chemo treatments. An ongoing trial, DESTINY-Breast09, is investigating the combination of AstraZeneca (NASDAQ:AZN) and Daiichi Sankyo’s (OTCPINK:DSKYF) Enhertu and Keytruda in HER2-positive breast cancer, with primary completion data likely due in Q3 2025.

These trials could unlock new treatment options and expand the market for these already successful ADCs.

Similarly, bispecific antibodies have garnered significant attention in the oncology space, demonstrating efficacy in hematologic malignancies. A trial directly comparing Keytruda to Ivonescimab, a bispecific antibody under development by Chinese pharma company Akeso Biopharma (OTCPINK:AKESF) and licensed by Summit Therapeutics (NASDAQ:SMMT), resulted in ivonescimab leading to a better overall survival rate than Keytruda. Further testing is required, but the suggested outcome could impact the future development and potential commercial success of ivonescimab and the bispecific antibody mechanism overall.

Another area of renewed interest in recent months is bispecific antibodies targeting the TIGIT immune checkpoint. While Roche (OTCQX:RHHBF) and its subsidiary Genentech’s tiragolumab faced a setback in a Phase III trial, Gilead (NASDAQ:GILD) and Arcus Biosciences (NYSE:RCUS) have shown promising results with their anti-TIGIT drug domvanalimab.

In a Phase I trial, domvanalimab plus anti-PD-1 antibody zimberelimab led to a 36 percent reduction in the risk of death for patients with advanced non-small cell lung cancer compared to patients who took zimberelimab alone.

“These are the first results demonstrating an improvement in overall survival reported for domvanalimab and zimberelimab,” said Dimitry Nuyten, chief medical officer of Arcus, sharing the results at the Society for Immunotherapy of Cancer (SITC) annual meeting in November 2024.

“They add to the growing body of evidence that domvanalimab…may have a differentiated efficacy, safety and tolerability profile relative to published data from studies with Fc-enabled anti-TIGIT antibodies.”

While immunology remains a key area of pharmaceutical investment following the success of interleukin inhibitors Dupixent, jointly developed and commercialized by Sanofi (NASDAQ:SNY) and Regeneron (NASDAQ:REGN); and Skyrizi, developed and marketed by AbbVie (NYSE:ABBV), the sector is also experiencing shifts.

On January 13, amidst declining demand for Covid-19 and respiratory syncytial virus, Moderna (NASDAQ:MRNA) one of the most prominent names in immunology, cut its sales forecast for 2025. The company expects 2025 revenue of between US$1.5 billion to US$2.5 billion, down from its previous projection of between US$2.5 billion and US$3.5 billion.

Pharma regulation to shape investment decisions in 2025

Changes in the pharmaceutical industry’s heavily regulated environment could impact how companies make investment decisions in 2025. While Big Pharma may be hopeful that President-elect Trump will ease drug price negotiation rules, he has been relatively quiet about repealing that aspect of the Inflation Reduction Act (IRA). His stance on the Affordable Care Act (ACA) is unclear, but he has been vocal about his intentions to trim federal funding for various programs.

The ACA currently provides health insurance coverage to over 45 million Americans. Changes to coverage could have ripple effects throughout the healthcare sector, including the pharmaceutical industry, as reduced coverage could lead to decreased demand for certain medications.

If IRA provisions remain in place or are strengthened, they could put downward pressure on drug prices, potentially impacting company revenues and investor returns. Conversely, if these provisions are weakened or repealed, it could provide a boost to the industry. Investors will need to closely observe political developments and any signals regarding the future of the IRA.

Trump’s unconventional nominees for key health and regulatory positions add another layer of complexity. During his announcement naming celebrity Dr. Mehmet Oz as his choice for administrator of the Centers for Medicare and Medicaid Services (CMS), Trump said Dr. Oz would “cut waste and fraud within our country’s most expensive government agency,” prompting analysts to speculate that he may alter rules on who qualifies for Medicaid and Medicare by instituting work requirements to receive them.

Robert F. Kennedy Jr. (RFK) as Secretary of Health and Human Services (HHS) could impact pharma companies developing vaccines due to his skepticism; however, he has clarified that he supports rigorous research into vaccine safety rather than eliminating them entirely; Research and testing, however, are expensive.

The nomination of Dr. Marty Makary as FDA Commissioner has been met with optimism from some market analysts, who anticipate a potentially more streamlined drug approval process. This could be a positive sign for investors, as faster approvals mean quicker market entry for new drugs and potentially faster returns on investment.

Investor takeaway

Overall, the pharmaceutical industry in 2025 is expected to be characterized by innovation, growth, and transformation. While challenges remain, the industry’s focus on research and development, coupled with advancements in technology and a commitment to patient care, is expected to drive progress and deliver significant benefits to patients worldwide.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Today’s pharmaceutical market is facing the challenges of inflation, government-imposed drug price caps and waning demand for COVID-19 vaccines. However, the industry’s major underlying drivers — higher rates of cancer and chronic diseases — are still at play.

The US reigns supreme in the pharma market, both in terms of drug demand and development. In 2024, 50 novel medicines were approved by the US Food and Drug Administration (FDA), compared to 55 such approvals in 2023. Last year’s FDA approvals for pharmaceuticals included Eli Lilly and Company’s (NYSE:LLY) Alzheimer’s disease treatment Kisunla (donanemab-azbt).

Big pharma largely stole the show throughout the course of the past year, but a number of small- and mid-cap NASDAQ pharma stocks have also made gains.

1. Chimerix (NASDAQ:CMRX)

Year-over-year gain: 239.49 percent
Market cap: US$297.69 million
Share price: US$3.31

Chimerix is a clinical-stage company developing medicines to improve the quality of life for patients facing deadly diseases. Its most advanced drug development program is ONC201 (dordaviprone), which is in development for recurrent H3 K27M-mutant glioma, a lethal form of brain cancer.

After trading mostly sideways for much of the past year, shares of Chimerix received a big boost late in the fourth quarter of 2024 as the company reached important milestones in its drug development program. The stock jumped more than 217 percent on December 10 to US$2.76, one day after Chimerix announced it would submit a New Drug Application for accelerated approval of dordaviprone to the FDA before the end of the year.

The company’s stock price continued to gain momentum in the following weeks to push past the US$3 mark by December 23. The day following Chimerix’ December 30 press release confirming it had completed the submission process, the stock reached US$3.48 per share.

“With this submission, we now turn our attention to preparing for potential commercial launch in the U.S. next year,” stated Chimerix CEO Mike Andriole.

Chimerix shares hit a yearly high of US$3.66 on January 7, 2025.

2. Eton Pharmaceuticals (NASDAQ:ETON)

Year-over-year gain: 195.98 percent
Market cap: US$372.89 million
Share price: US$14.00

Eton Pharmaceuticals is developing and commercializing treatments for ultra-rare diseases. Its commercial portfolio of rare disease products includes Alkindi Sprinkle, Increlex, PKU Golike and multiple FDA-approved generic bioequivalents. The company also has several product candidates in late-stage development: hydrocortisone oral solution ET-400, ET-600 for diabetes insipidus and the ZENEO hydrocortisone autoinjector.

Eton’s share price performed exceptionally well in the second half of 2024 and into the first few weeks of 2025 on robust quarterly financials, acquisitions and key milestones.

The stock made steady gains following the release of the company’s Q2 2024 financial report in early August. The quarter brought royalty revenue of US$9.1 million and a 40 percent increase in product sales over Q2 2023, representing “the 14th straight quarter of sequential product sales growth.” Shares in Eton climbed by more than 65 percent to US$6.00 by the end of Q3.

In early October, the company announced the acquisition of Increlex, a medication used in the treatment of pediatric patients with severe IGF-1 deficiency, from French biopharma company Ispen. By the end of the month, Eton’s stock reached a value of US$8.62 per share.

November was a busy month for positive news flow out of Eton. The company was awarded a second patent for its liquid formulation of hydrocortisone on November 7. A few days later, its Q3 2024 report highlighted another consecutive quarter of growth in product sales, up 40 percent year-over-year. Eton closed out the month with the acquisition of the US rights to Amglidia for the treatment of neonatal diabetes mellitus from French biotech firm AMMTeK.

By the end of November, Eton’s stock price had surged to US$13.53 per share. The stock reached its highest yearly value of US$14.31 on January 2, 2025. The next day, Eton announced the acquisition of Galzin, an FDA-approved treatment for patients with Wilson disease, which it plans to begin commercializing in the US early this year.

3. Corvus Pharmaceuticals (NASDAQ:CRVS)

Year-over-year gain: 139.63 percent
Market cap: US$334.14 million
Share price: US$5.20

Corvus Pharmaceuticals is a clinical-stage biopharma company developing an immunotherapy platform based on ITK inhibition for the treatment of various cancer and immune diseases. The company’s lead product candidate is soquelitinib, an investigational small molecule drug that selectively inhibits ITK and is delivered orally.

Corvus is another NASDAQ pharma stock that saw significant gains in the last half of 2024.

The growth in its share price got its first major boost in early August when the FDA granted fast track designation to soquelitinib ‘for the treatment of adult patients with relapsed or refractory peripheral T cell lymphoma after at least two lines of systemic therapy.’ By the end of the month, shares in Corvus had grown by nearly 50 percent to US$4.48.

Corvus’ stock value received another bump to the upside following the September 10 announcement it had initiated registration in its Phase 3 clinical trial of soquelitinib for the aforementioned indication. Shares in the company reached what was then their highest point of US$5.91 on September 20, and continued to gain value throughout the following weeks to hit a current yearly high of US$9.56 on November 11.

4. ATyr Pharma (NASDAQ:ATYR)

Year-over-year gain: 110.9 percent
Market cap: US$276.17 million
Share price: US$3.29

ATyr Pharma is using its proprietary tRNA synthetase platform, which includes a library of domains derived from all 20 tRNA synthetases, to develop new therapies for fibrosis and inflammation. The company’s lead therapeutic candidate is efzofitimod, a first-in-class biologic immunomodulator targeting interstitial lung disease.

The fourth quarter of 2024 was very good to aTyr’s stock value, and it has continued to perform well into January 2025.

In early October, aTyr Pharma announced the publication of an analysis of the Phase 1b/2a clinical trial of efzofitimod in patients with pulmonary sarcoidosis, a major form of interstitial lung disease, in the European Respiratory Journal.

Shares in aTyr Pharma climbed by more than 92 percent through the month to a then yearly high of US$3.35 on October 22.

On December 10, the company shared its third positive safety review of its ongoing Phase 3 EFZO-FIT study of efzofitimod in patients with pulmonary sarcoidosis. Shares of the company hit their highest yearly value of US$3.98 on January 3.

5. Inhibikase Therapeutics (NASDAQ:IKT)

Company Profile

Year-over-year gain: 90 percent
Market cap: US$178.73 million
Share price: US$2.66

Inhibikase Therapeutics is developing protein kinase inhibitor therapeutics for modifying the course of cardiopulmonary and neurodegenerative disease through Abl kinase inhibition. Its two leading drug candidates are IkT-001Pro, a prodrug of imatinib mesylate, for pulmonary arterial hypertension with fewer on-dosing side-effects; and risvodetinib, a selective c-Abl inhibitor to treat Parkinson’s and Parkinson’s-related disease.

In late October, Inhibikase closed on an approximately US$110 million private placement, which with the full cash exercise of accompanying warrants could lead to a potential aggregate financing of up to approximately US$275 million before deducting fees and expenses. The company intends to use the funds in part for its Phase 2b 702 trial for IkT-001Pro in pulmonary arterial hypertension.

Shares of Inhibikase reached a yearly high of US$3.97 on December 17.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

As the boutique fitness sector starts to buckle, Barry’s Bootcamp on Monday announced new investment from Princeton Equity Group.

“The reason why this [boutique fitness] works for Barry’s is that our positioning in the marketplace is premium,” said Joey Gonzalez, Barry’s co-CEO, in an interview with CNBC. “We always want to minimize risks to any sort of brand dilution, and we only ever want to elevate the Barry’s experience.”

Gonzalez said this funding round will be focused on investing in client experience and brand positioning in a highly saturated industry. Barry’s offers high-intensity running, lifting and training classes in its trademark red-lit rooms.

Barry’s has 89 studios globally that saw more than 7 million visits in 2024.

Princeton is a franchisor and consumer services-focused private equity firm with $1.2 billion in assets under management. It has invested in other wellness brands such as spa chain Massage Envy and athletic training facility D1 Training.

The size of the investment was not disclosed.

The fresh capital for Barry’s adds to a list of private equity investments dating back nearly two decades from firms including LightBay Capital and North Castle Partners.

Gonzalez said Barry’s will use the investment in part to fund expansion in 12 U.S. cities this year, including Charleston, South Carolina; Hoboken, New Jersey; and Salt Lake City, as well as locations in Madrid, Athens and Dublin.

″[This partnership] is enabling us to consolidate our operations in the UK and Canada,” Gonzalez said. “We will now be overseeing operations in these countries where we can foster a closely knit community and create efficiencies.”

The broader global boutique fitness studio market was valued at nearly $48 billion in 2023 and is expected to grow to $86 billion in 2030, according to estimates from Research and Markets. Still, several high-profile brands have struggled to grow their customer base.

Xponential Fitness, a franchisor of health and wellness brands, divested from two struggling boutique chains — Stride Fitness and Row House — last year.

Jefferies analyst Randal Konik cited industry headwinds including macroeconomic concerns that could cause a pullback in consumer spending, and said fitness has proven to be more need-based with more people prioritizing health and wellness.

“Tailwinds will be the focus on health and wellness coming out of Covid,” Konik said, “as well as a move towards strength training, [which] has lifted demand for all types of fitness classes and gym membership.”

Piper Sandler analyst Korinne Wolfmeyer cited “uncertainty around unit growth” at Xponential as one of the main reasons to stay on the sidelines of the stock.

Gonzalez said his company is bucking the trend.

“I think of Barry’s as one of the originals, and a very back-to-basics approach to fitness with efficacy at the heart,” said Gonzalez. “What Barry’s has really done is stick to our core competency: fitness experience, immersive experience, member experience.”

This post appeared first on NBC NEWS

China is reportedly building a series of ‘D-Day style’ barges that could be used to aid an invasion of Taiwan, according to media reports. 

At least three of the new craft have been observed at Guangzhou Shipyard in southern China, according to Naval News.

The barges are inspired by the World War II ‘Mulberry harbours,’ which were portable harbors built for the Allied campaign in Normandy, France, in 1944, The Telegraph reported.

Tensions between China and Taiwan, a key U.S. partner in the Indo-Pacific region, have remained heightened over Beijing’s refusal to recognize the independence of the island nation. 

In its report last week, Naval News said at least three but likely five or more barges were seen in China’s Guangzhou Shipyard. The barges, at over 390 feet, can be used to reach a coastal road or hard surface beyond a beach, the report said. 

In his New Year’s message, Chinese leader Xi Jinping said ‘reunification’ with Taiwan is inevitable.

‘The people on both sides of the Taiwan Strait are one family. No one can sever our family bonds, and no one can stop the historical trend of national reunification,’ he said on CCTV, China’s state broadcaster.

Using barges, Chinese forces could land in areas previously considered unsuitable, including rocky or soft terrain, and beaches where tanks and other heavy equipment can be delivered to firmer ground or a coastal road, the report said. 

‘Any invasion of Taiwan from the mainland would require a large number of ships to transport personnel and equipment across the strait quickly, particularly land assets like armored vehicles,’ Emma Salisbury, a sea power research fellow at the Council on Geostrategy, told Naval News. ‘As preparation for an invasion, or at least to give China the option as leverage, I would expect to see a build-up of construction of ships that could accomplish this transportation.’

House lawmakers meet legislative counterparts in Taiwan

Fox News Digital has reached out to the Department of Defense, the Chinese Embassy in Washington, D.C., and the Taipei Economic and Cultural Representative Office, also in Washington.

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In a major reversal, some U.S. intelligence agencies are now saying a foreign adversary could be behind the mysterious ‘Havana Syndrome’ brain injuries reported by U.S. diplomats and government workers overseas. While the overall assessment from the intelligence community remains, it is ‘very unlikely’ Havana Syndrome could be caused by a foreign actor, two out of seven U.S. intelligence agencies now say it is possible a foreign adversary could have developed a weapon that could cause such brain injuries.

Adam, a former government employee whose identity Fox News agreed to protect, considered to be ‘Patient Zero,’ was first attacked in December 2016 while living in Havana on assignment. Adam experienced multiple attacks and described pressure to the brain that led to vertigo, tinnitus and cognitive impairment.

Adam and other victims have been pressing the U.S. government to find a culprit. He said he is starting to feel hopeful now that two of the seven U.S. intelligence agencies acknowledge a foreign adversary, he says likely Russia, has developed a weapon that could be responsible for the kind of neurological injuries reported by those suffering from Havana Syndrome.

‘This has been an eight-year fight. I don’t know if I would say I feel vindicated yet. We will get there. The truth will come out. And when that’s fully exposed, I think that’s when I will say that I’m vindicated… I’m hoping the new administration can pay that debt and we can hold those responsible that have covered this up and partaken in some egregious behavior, frankly, because we all deserve better. The American people deserve better than to be lied to like this,’ Adam told Fox News.

Adam was one of six Havana Syndrome victims to attend a meeting in the White House situation room on November 18th, 2024. The meeting was designed to provide the incoming administration with a roadmap on Havana Syndrome, also called Anomalous Health Incidents (AHI’s). The three-hour meeting was chaired by NSC Coordinator for Intelligence and Defense Policy Mahar Bitar. The victims say they received a moving apology from the NSC staff on how they were treated by the U.S. Government.

The NSC released a statement following the updated assessment from the intelligence community:

‘Today’s updated Intelligence Community Assessment, which is the product of ongoing analytic efforts and includes a shift in key judgements by some intelligence components, only reinforces why it is vital that the U.S. Government continue critical research, investigate credible incidents, and strengthen efforts to provide timely care and long-term clinical follow-up,’ the statement read.

The NSC will brief the incoming Trump administration on the ‘full scope of ongoing work that should continue,’ the statement continued to say.

Adam said it has long been obvious to the victims that a foreign adversary could be behind the suspected directed energy attacks.  

‘Here’s the piece that, you know, astounds me. Can the CIA not Google? Because if anyone could sit and Google China, neuro-strike weapons, Russia, super weapons, they have been very public in the press that they have directed energy weapons programs that do exactly what they did to us and that they plan on deploying them in conventional warfare,’ Adam said.

The Office of the Director of National Intelligence (ODNI) released the report and held a background call with reporters on Friday.

The new assessment from the intelligence community said, ‘New reporting led two components to shift their assessments about whether a foreign actor has a capability that could cause biological effects consistent with some of the symptoms reported as possible AHIs. This shift consequently led two IC components to subtly change their overall judgment about whether a foreign actor might have played a role in a small number of events.’

The ODNI official explained the change in assessment of the two intelligence agencies.

‘They judge there is a roughly even chance a foreign actor has developed a novel weapon or prototype device that could have harmed a small, undetermined subset of the U.S. personnel or dependents who reported medical symptoms or sensory phenomena as AHIs,’ the official said.

For both of these components. They have a low confidence in their judgments,’ the official continued to say.

 The Republican-led CIA Subcommittee Chairman Rick Crawford (R-Ark.) released an interim report on the committee’s separate investigation into Havana Syndrome. The report concluded that it is ‘increasingly likely’ that a foreign adversary is responsible for ‘some portion’ of the incidents.

The subcommittee accused the intelligence community of withholding valuable information from them in the interim report.

‘The IC’s inconsistent approach has had detrimental effects on IC personnel, trust in the IC by policymakers, the understanding of the American public, and perceptions of the IC by both foreign allies and adversaries,’ the report said.

Crawford vowed to work with the incoming Trump administration to get answers for affected federal employees and the public.

Attorney Mark Zaid who represents some of the victims said the new assessment indicates, ‘evidence has only moved closer to the Intelligence Community acknowledging the involvement of a foreign adversary, not away.’

Adam hopes the Trump administration will keep pressing for answers on Havana Syndrome and what caused hundreds of workers brain injuries.  

‘Now there is also new information that’s in play, and it’s so irrefutable that even they can’t stand by and watch this cover-up continue… we’re hoping that we’re going to have a more amenable administration that cares about its workforce and cares about the truth,’ Adam said.

This post appeared first on FOX NEWS

Today’s pharmaceutical market is facing the challenges of inflation, government-imposed drug price caps and waning demand for COVID-19 vaccines. However, the industry’s major underlying drivers — higher rates of cancer and chronic diseases — are still at play.

The US reigns supreme in the pharma market, both in terms of drug demand and development. In 2024, 50 novel medicines were approved by the US Food and Drug Administration (FDA), compared to 55 such approvals in 2023. Last year’s FDA approvals for pharmaceuticals included Eli Lilly and Company’s (NYSE:LLY) Alzheimer’s disease treatment Kisunla (donanemab-azbt).

Big pharma largely stole the show throughout the course of the past year, but a number of small- and mid-cap NASDAQ pharma stocks have also made gains.

1. Chimerix (NASDAQ:CMRX)

Year-over-year gain: 239.49 percent
Market cap: US$297.69 million
Share price: US$3.31

Chimerix is a clinical-stage company developing medicines to improve the quality of life for patients facing deadly diseases. Its most advanced drug development program is ONC201 (dordaviprone), which is in development for recurrent H3 K27M-mutant glioma, a lethal form of brain cancer.

After trading mostly sideways for much of the past year, shares of Chimerix received a big boost late in the fourth quarter of 2024 as the company reached important milestones in its drug development program. The stock jumped more than 217 percent on December 10 to US$2.76, one day after Chimerix announced it would submit a New Drug Application for accelerated approval of dordaviprone to the FDA before the end of the year.

The company’s stock price continued to gain momentum in the following weeks to push past the US$3 mark by December 23. The day following Chimerix’ December 30 press release confirming it had completed the submission process, the stock reached US$3.48 per share.

“With this submission, we now turn our attention to preparing for potential commercial launch in the U.S. next year,” stated Chimerix CEO Mike Andriole.

Chimerix shares hit a yearly high of US$3.66 on January 7, 2025.

2. Eton Pharmaceuticals (NASDAQ:ETON)

Year-over-year gain: 195.98 percent
Market cap: US$372.89 million
Share price: US$14.00

Eton Pharmaceuticals is developing and commercializing treatments for ultra-rare diseases. Its commercial portfolio of rare disease products includes Alkindi Sprinkle, Increlex, PKU Golike and multiple FDA-approved generic bioequivalents. The company also has several product candidates in late-stage development: hydrocortisone oral solution ET-400, ET-600 for diabetes insipidus and the ZENEO hydrocortisone autoinjector.

Eton’s share price performed exceptionally well in the second half of 2024 and into the first few weeks of 2025 on robust quarterly financials, acquisitions and key milestones.

The stock made steady gains following the release of the company’s Q2 2024 financial report in early August. The quarter brought royalty revenue of US$9.1 million and a 40 percent increase in product sales over Q2 2023, representing “the 14th straight quarter of sequential product sales growth.” Shares in Eton climbed by more than 65 percent to US$6.00 by the end of Q3.

In early October, the company announced the acquisition of Increlex, a medication used in the treatment of pediatric patients with severe IGF-1 deficiency, from French biopharma company Ispen. By the end of the month, Eton’s stock reached a value of US$8.62 per share.

November was a busy month for positive news flow out of Eton. The company was awarded a second patent for its liquid formulation of hydrocortisone on November 7. A few days later, its Q3 2024 report highlighted another consecutive quarter of growth in product sales, up 40 percent year-over-year. Eton closed out the month with the acquisition of the US rights to Amglidia for the treatment of neonatal diabetes mellitus from French biotech firm AMMTeK.

By the end of November, Eton’s stock price had surged to US$13.53 per share. The stock reached its highest yearly value of US$14.31 on January 2, 2025. The next day, Eton announced the acquisition of Galzin, an FDA-approved treatment for patients with Wilson disease, which it plans to begin commercializing in the US early this year.

3. Corvus Pharmaceuticals (NASDAQ:CRVS)

Year-over-year gain: 139.63 percent
Market cap: US$334.14 million
Share price: US$5.20

Corvus Pharmaceuticals is a clinical-stage biopharma company developing an immunotherapy platform based on ITK inhibition for the treatment of various cancer and immune diseases. The company’s lead product candidate is soquelitinib, an investigational small molecule drug that selectively inhibits ITK and is delivered orally.

Corvus is another NASDAQ pharma stock that saw significant gains in the last half of 2024.

The growth in its share price got its first major boost in early August when the FDA granted fast track designation to soquelitinib ‘for the treatment of adult patients with relapsed or refractory peripheral T cell lymphoma after at least two lines of systemic therapy.’ By the end of the month, shares in Corvus had grown by nearly 50 percent to US$4.48.

Corvus’ stock value received another bump to the upside following the September 10 announcement it had initiated registration in its Phase 3 clinical trial of soquelitinib for the aforementioned indication. Shares in the company reached what was then their highest point of US$5.91 on September 20, and continued to gain value throughout the following weeks to hit a current yearly high of US$9.56 on November 11.

4. ATyr Pharma (NASDAQ:ATYR)

Year-over-year gain: 110.9 percent
Market cap: US$276.17 million
Share price: US$3.29

ATyr Pharma is using its proprietary tRNA synthetase platform, which includes a library of domains derived from all 20 tRNA synthetases, to develop new therapies for fibrosis and inflammation. The company’s lead therapeutic candidate is efzofitimod, a first-in-class biologic immunomodulator targeting interstitial lung disease.

The fourth quarter of 2024 was very good to aTyr’s stock value, and it has continued to perform well into January 2025.

In early October, aTyr Pharma announced the publication of an analysis of the Phase 1b/2a clinical trial of efzofitimod in patients with pulmonary sarcoidosis, a major form of interstitial lung disease, in the European Respiratory Journal.

Shares in aTyr Pharma climbed by more than 92 percent through the month to a then yearly high of US$3.35 on October 22.

On December 10, the company shared its third positive safety review of its ongoing Phase 3 EFZO-FIT study of efzofitimod in patients with pulmonary sarcoidosis. Shares of the company hit their highest yearly value of US$3.98 on January 3.

5. Inhibikase Therapeutics (NASDAQ:IKT)

Company Profile

Year-over-year gain: 90 percent
Market cap: US$178.73 million
Share price: US$2.66

Inhibikase Therapeutics is developing protein kinase inhibitor therapeutics for modifying the course of cardiopulmonary and neurodegenerative disease through Abl kinase inhibition. Its two leading drug candidates are IkT-001Pro, a prodrug of imatinib mesylate, for pulmonary arterial hypertension with fewer on-dosing side-effects; and risvodetinib, a selective c-Abl inhibitor to treat Parkinson’s and Parkinson’s-related disease.

In late October, Inhibikase closed on an approximately US$110 million private placement, which with the full cash exercise of accompanying warrants could lead to a potential aggregate financing of up to approximately US$275 million before deducting fees and expenses. The company intends to use the funds in part for its Phase 2b 702 trial for IkT-001Pro in pulmonary arterial hypertension.

Shares of Inhibikase reached a yearly high of US$3.97 on December 17.

Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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Harris Blitzer Sports & Entertainment announced on Monday a joint venture with Comcast Spectacor to build a new arena in South Philadelphia for the NBA’s 76ers and the NHL’s Flyers.

The deal represents a reversal from previous plans to build an arena in the Center City district of Philadelphia.

Harris Blitzer and Comcast Spectacor have entered into a binding agreement for a 50-50 stake in the project at South Philadelphia’s Sports Complex, which is slated to open in 2031. It will include the revitalization of Market East in Center City, the original proposed location for an arena. In December, the Philadelphia 76ers received approval to build a $1.3 billion arena downtown after more than two years of contentious negotiations.

The deal announced Monday will give Comcast a minority stake in the 76ers and naming rights to the arena. The Philadelphia-based company will also join HBSE’s bid to bring a WNBA team to the Liberty City.

Comcast Spectacor is already majority owner of the Philadelphia Flyers.

“From the start, we envisioned a project that would be transformative for our city and deliver the type of experience our fans deserve,” said HBSE’s Josh Harris, David Blitzer and David Adelman in a statement. “By coming together with [Comcast CEO Brian Roberts] and Comcast, this partnership ensures Philadelphia will have two developments instead of one, creating more jobs and real, sustainable economic opportunity.”

In committing to both investments, the companies say they will create thousands of jobs and generate billions of dollars in economic activity for the region.

“This has the potential to benefit our city for generations to come,” said Philadelphia Mayor Cherelle Parker during a news conference Monday.

Disclosure: Comcast is the parent company of CNBC.

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Special Counsel David Weiss’ final report on his years-long investigation into Hunter Biden determined the first son’s drug abuse could not explain away not paying taxes on millions of dollars of income earned off of his ‘last name and connections.’ 

‘As a well-educated lawyer and businessman, Mr. Biden consciously and willfully chose not to pay at least $1.4 million in taxes over a four-year period. From 2016 to 2020, Mr. Biden received more than $7 million in total gross income, including approximately $1.5 million in 2016, $2.3 million in 2017, $2.1 million in 2018, $1 million in 2019 and $188,000 from January through October 15, 2020,’ Weiss wrote in his final report, which was released Monday. 

‘Mr. Biden made this money by using his last name and connections to secure lucrative business opportunities, such as a board seat at a Ukrainian industrial conglomerate, Burisma Holdings Limited, and a joint venture with individuals associated with a Chinese energy conglomerate. He negotiated and executed contracts and agreements that paid him millions of dollars for limited work,’ Weiss continued. 

Hunter Biden, 54, had a busy year in court last year, when he was convicted of two separate federal cases prosecuted by Weiss. He kicked off his first trial in Delaware in June, when he faced three felony firearm offenses involving his drug use, before pleading guilty in a separate felony tax case in September. 

Hunter Biden’s September trial revolved around charges of three felony tax offenses and six misdemeanor tax offenses regarding the failure to pay at least $1.4 million in taxes. As jury selection was about to kick off in Los Angeles federal court for the case, however, Hunter Biden entered a surprise guilty plea. 

Weiss continued in his report that Hunter Biden ‘spent millions of dollars on an extravagant lifestyle rather than paying his tax bills,’ and that he ‘willfully failed to pay his 2016, 2017, 2018, and 2019 taxes on time, despite having access to funds to pay some or all of these taxes.’ 

Weiss added that the first son’s previous drug abuse could not explain his failure to pay the taxes. 

‘These are not ‘inconsequential’ or ‘technical’ tax code violations,’ Weiss wrote. ‘Nor can Mr. Biden’s conduct be explained away by his drug use-most glaringly, Mr. Biden filed his false 2018 return, in which he deliberately underreported his income to lower his tax liability, in February 2020, approximately eight months after he had regained his sobriety. Therefore, the prosecution of Mr. Biden was warranted given the nature and seriousness of his tax crimes.’

Hunter has a well-documented history of drug abuse, which was most notably documented in his 2021 memoir, ‘Beautiful Things.’ The book walked readers through his previous addiction to crack cocaine, before getting sober in 2019. The memoir featured extensively in his separate firearms case in June, when a jury found him guilty of three felony charges related to his purchase of a gun while addicted to substances. 

‘The evidence demonstrated that as Mr. Biden held high-paying positions earning him millions of dollars, he chose to keep funding his extravagant lifestyle instead of paying his taxes. He then chose to lie to his accountants in claiming false business deductions when, in fact, he knew they were personal expenses. He did this on his own, and his tax return preparers relied on him, because, among other reasons, only he understood the true nature of his deductions and he failed to give them records that might have revealed that the deductions were bogus,’ Weiss continued. 

The tax case charges carried up to 17 years behind bars, but the first son would likely have faced a much shorter sentence under federal sentencing guidelines. His sentencing was scheduled for Dec. 16, but he was pardoned by his father, President Biden, earlier that month. 

Hunter Biden’s blanket pardon encompassed a decade-period applying to any offenses he ‘has committed or may have committed’ on a federal level. 

Weiss’ report also took issue with the president’s pardoning of Hunter Biden, specifically with how President Biden characterized prosecutions of Hunter Biden as ‘selective’ and ‘unfair.’

‘This statement is gratuitous and wrong,’ Weiss wrote in his report. ‘Other presidents have pardoned family members, but in doing so, none have taken the occasion as an opportunity to malign the public servants at the Department of Justice based solely on false accusations.’ 

‘Politicians who attack the decisions of career prosecutors as politically motivated when they disagree with the outcome of a case undermine the public’s confidence in our criminal justice system,’ Weiss wrote in another section of the report. ‘The President’s statements unfairly impugn the integrity not only of Department of Justice personnel, but all of the public servants making these difficult decisions in good faith.’ 

The DOJ sent Weiss’ report to Congress Monday evening, officially bringing the years-long investigation into the first son to a close. 

Fox News Digital’s Brooke Singman contributed to this report. 

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