The Food and Drug Administration declined to approve Cytokinetics’ heart drug. The agency cited a lack of sufficient data to show the drug was effective and the decision sent shares down 3% after the market trade. (Reuters)
An AI breakthrough from Alphabet’s DeepMind ‘changed scientific history’ and could lead to new cures. Over 1 million researchers have used the AI breakthrough that helps scientists better understand diseases. Here’s how AlphaFold came to be. (Business Insider)
Adamis Pharmaceuticals’ stock jumped nearly 30% after the company announced a merger agreement with DMK Pharmaceuticals. “…we believe a merger with DMK is the best path forward for Adamis and the strategy that has the potential to deliver significant value to Adamis’ shareholders,” said Adamis CEO David J. Marguglio in a statement. (Seeking Alpha)
In wake of an activist shareholder letter, Theravance cut its JAK inhibitor along with 17% of its workforce. Theravance came out with a quarterly loss of $0.21 per share versus the Zacks Consensus Estimate of a loss of $0.20. This compares to a loss of $0.43 per share a year ago. (Yahoo! Finance)
The FDA restricted the importation of ‘tranq’ drug xylazine. Under the import alert, xylazine shipments are subject to heightened FDA scrutiny, and agency staff may detain shipments of xylazine and the ingredients used to make it to ensure they’re meant for legitimate use. (The Hill)
