Latest news with #MM
Politico
11 hours ago
- Business
- Politico
How the Israel-Iran conflict could hit the economy
Presented by As the U.S. weighs intervention in Israel's conflict with Iran, Wall Street has been skittish, eyeing the potential fallout for oil prices and inflation. To get a better sense of what's driving the oil market and what economic risks might lie ahead, MM caught up with Rory Johnston, an oil market analyst at research service Commodity Context who's been following all of this closely. A takeaway from that conversation: The price jump has been notably large for a market that has become desensitized to political risks after safely weathering multiple shocks over the last few years, including Covid and the Russia-Ukraine war. Now, 'even a numb cynical oil market sees Israel bombing Tehran and says, 'OK, maybe worry a bit here,'' he said. Conflict with Iran is the 'No. 1 risk scenario that people talk about, and now we're living in it,' he added. A worst-case scenario would be if Tehran is driven to close off the Strait of Hormuz, a channel through which about a fifth of the world's oil passes. Experts including Johnston say it's unlikely Iran would do that unless pushed to the brink — such a move would run the risk of hurting its own economic lifeline, as well as antagonizing its neighbors in the region — but the shockwaves would be significant. For now, what struck your host is that this conflict is helping prop up prices at a time when they'd really started to drop, and that could help boost U.S. oil production, which had previously been forecast to contract in 2026. But the exact trajectory of all this is highly unclear. 'This is usually the lead-up to summer driving season, so gasoline prices were set to rise anyway,' POLITICO's resident oil market expert Ben Lefebvre told MM. 'Because of the current Middle East situation, they'll rise further than they might have when oil was still around $60 a barrel. But when compared to what U.S. drivers experienced even last year, it won't be too far off recent norms … if there is such a thing as 'recent norms.'' 'The interesting thing is whether this spurs U.S. oil companies to drill more,' he added. 'They might just see this as a temporary boost and not something they want to get too far ahead of.' Rewind to before the current Israel-Iran conflict escalated. OPEC, the cartel of major oil-exporting countries, had been holding back production but then ramped up output earlier this year. That move was taken, in part, to get ahead of the effects of President Donald Trump's tariffs, which had raised fears that demand for oil would crater amid a global slowdown. That was leading to forecasts of oversupply later this year, Johnston said, reducing incentives for oil companies to produce. Now, Israel's attacks on Iran have likely led to fear-buying, as well as speculative trading, that has pushed up prices as much as 15 percent. Fighting so far has spared infrastructure that would significantly crimp the outflow of crude. 'While theoretically on its face, nothing that's happened so far has changed anything physical about supply and demand, part of the way … price formation has occurred is you have physical participants — a refinery, whatever — that's all of a sudden worried they're not going to be able to get cargos next month or the month after,' Johnston said. For prices to stay high or go higher, there likely would have to be some actual damage to key oil infrastructure, he said. But in the meantime, the scope for economic disruption is still significant. The largest price increases have been for diesel, a key input for shipping and therefore a potential risk to inflation in many sectors. 'It might not seem as harsh at the pump, but your shipping and your route delivery is going to feel the pinch of diesel far more,' Johnston said. More broadly, John Fagan, co-founder of Markets Policy Partners and the former markets head at the Treasury Department, said this oil price shock feeds the narrative that the U.S. is going to have slower growth and higher prices: stagflation. 'Demand is not collapsing, and oil prices are not unbelievably high, so you don't have that pop and drop kind of dynamic' when prices rise above where the market can support, he said. 'And if the dollar can't rally, that's supportive of [higher] oil prices.' HAPPY FRIDAY — Hope many of you got to have a restful day off yesterday. Send thoughts about the economic outlook to vguida@ and as always, send MM tips and pitches to Sam Sutton, who is back next week: ssutton@ Driving the day Deputy Treasury Secretary Michael Faulkender speaks at the Council on Foreign Relations at 12:30 p.m. Debt warnings fall on deaf ears — Republicans are largely ignoring a host of reports warning that their bill would worsen the nation's fiscal trajectory in a serious way, our Ben Guggenheim reports. The Congressional Budget Office estimates Tuesday led to an unusual finding. Usually tax cuts tend to cost less under so-called dynamic scores that include economic effects. Not so here: The $2.8 trillion figure released Tuesday outstripped the CBO's prior $2.4 trillion estimate that did not include economic analysis — mostly because the bill would increase interest rates. But the GOP is relying instead on estimates from the White House that Kyle Pomerleau of the American Enterprise Institute called 'outrageous' and 'way higher than everyone else's.' Your MM host chatted last week with Joe Lavorgna, who joined the Treasury Department this month as a counselor to Secretary Scott Bessent, and he had thoughts on CBO's projection that the economy would grow at an average rate of 1.8 percent over the next 10 years. 'Once the One Big Beautiful Bill passes, it's going to lock in the gains that we saw in the first Trump administration, when we were growing at nearly 3 percent,' he told your MM host. 'Then, you could make a case because of AI,' productivity growth will be much higher. 'The trailing 10-year growth rate of GDP is 2.5 percent. Why aren't we using that? .. 1.8 is unbelievably pathetically slow.' On the pods: Hear from CBO Director Phillip Swagel himself on Bloomberg's Big Take podcast. Sober news on entitlements — The longterm financial health of Social Security and Medicare worsened last year, our Michael Stratford reports. 'Annual reports released by the Treasury Department on Monday show that Social Security's reserve funds, if combined, would run out of money to fully pay beneficiaries in 2034 — a year sooner than projected last year,' Stratford writes. 'And the trust fund that pays Medicare's hospital bills would be depleted in 2033 — three years earlier than expected.' Trump calls for 'clean' Senate crypto bill to pass — Late Wednesday, Trump called on House Republicans to move 'LIGHTNING FAST' to send Senate-passed stablecoin legislation to his desk, dialing up pressure on GOP lawmakers in the lower chamber to adopt the measure without any changes, our Jasper Goodman reports. The Economy ICYMI: Fed holds rates steady — Federal Reserve officials announced Wednesday that they will hold interest rates steady, ignoring repeated calls from President Donald Trump to dramatically lower borrowing costs. In fact, projections from the central bank's policymakers suggest they're less confident they will be able to significantly decrease rates than they were in March. Vibe check: Here was Trump's response on Truth Social Thursday morning: ''Too Late' Jerome Powell is costing our Country Hundreds of Billions of Dollars. He is truly one of the dumbest, and most destructive, people in Government, and the Fed Board is complicit. Europe has had 10 cuts, we have had none. We should be 2.5 Points lower, and save $BILLIONS on all of Biden's Short Term Debt. We have LOW inflation! TOO LATE's an American Disgrace!' Jobs report Carolyn Davis is now director of comms at Better Markets. She previously was director of external comms at Leadership for Educational Equity. Mike Spratt has joined the ICI as an associate general counsel. He previously was assistant director in the Division of Investment Management Disclosure Review office at the SEC. He also served as counsel to former SEC Commissioners Kara Stein and Elisse Walter.
Vogue
13 hours ago
- Entertainment
- Vogue
Female Gazes: Ana Margarita Flores & Marisol Mendez
It's about being resourceful and even if it takes longer, if it's what you're meant to do, just keep doing it. Let's be honest, nobody is waiting for our work, so take your time and try to find ways to produce it. CDB Final question. There's this myth that I want us to dismantle, that men, especially in working environments, are better at creating connections and solidarity. Would you tell me about the people who helped you? MM I dedicated my book to my mum because she was really the person that was with me throughout the project. I called her assistant, but she deserves a more intersectional kind of named tag for what she did. My mom, even though she is not an artist, knows me and she knew the work, so even when I was sequencing, I would show it to her. I would share the work that I was doing in my family group chat and ask my sisters: we took these pictures, which one is better? I feel very happy to have this nucleus of family that is very supportive. The project would not be what it is if it wasn't for every woman that participated in it. I wish I could take credit, but I was surrounded by all this beautiful energy. And I must say that back then I had also these two male photographer friends who helped me a lot. My book editor was a woman, she was the one who convinced the publisher to make the book. My writing teacher, who is a poet from Argentina, and Elisa Medde wrote for my book. The book was a collective effort of all these women. Many eyes that go into a project, many conversations, many voices. ANA So for me it was very solitary at the beginning, but when I feel stuck, obviously many times during the process, I like sharing my ideas with my closest friends. Especially with my housemate, one of my best friends. She understands my background because we both grew up in Geneva and we are both Latin Americans. Then obviously my mother even though at the beginning she didn't really understand what I was doing but we opened up a dialogue which helped me to see many things.
Spectator
a day ago
- Politics
- Spectator
Watch: SNP housing secretary slips up on social housing
SNP MSP Mairi McAllan appears to be rated rather highly by First Minister John Swinney, who created an entirely new job created for her on her return to Holyrood from maternity leave – but the Scottish government's new housing secretary hasn't had the smoothest start to the job. A rather awkward interview with STV this week highlighted the Cabinet minister isn't quite as on top of her brief as she should be. Oh dear… The SNP claims on its website that 'since taking office, we have delivered 96,750 affordable homes, nearly 67,000 of which were for social rent'. But on how many people are currently waiting for a social home in Scotland, it seems the Nats are a little less clear. When quizzed during a visit to Bathgate on Wednesday, McAllan's interview fast became rather excruciating… STV: Do you know how many people are waiting for a social home currently? MM: I don't have that… I don't have that figure. STV: You don't know how many people are waiting for a social home in Scotland? MM: I don't have that figure on me. STV: You're the new cabinet secretary for the housing brief, and you can't tell me how many thousands of people are waiting for a social home? MM: It's not that I don't know it. I don't have the figure with me today. Er, that rather sounds like she doesn't know, then… STV: Well, it's 250,000. More than a quarter of a million Scots are waiting for a social home. What are you going to say to them? They'll be quite shocked to hear you didn't know how many of them were waiting for a home. Ouch. Watch the clip here:
Yahoo
4 days ago
- Health
- Yahoo
EHA 2025: J&J's dual-targeting bispecifics could redefine SOC for r/r MM
At the 2025 Congress of the European Hematology Association (EHA 2025), held from 12 to 15 June, the preliminary results from the global, multi-centre open-label non-randomised Phase II RedirecTT-1 clinical trial (NCT04586426) were presented on 15 June. This trial evaluated the safety and efficacy of the combination of Johnson & Johnson's (J&J's) Tecvayli (teclistamab), an anti–G protein–coupled receptor family C group 5 member D (GPRC5D)-directed CD3 bispecific T-cell engager (BiTE) and Talvey (talquetamab), an anti–B-cell maturation antigen (BCMA)-CD3 BiTE, in treating patients with relapsed/refractory (r/r) multiple myeloma (MM) and extramedullary disease (EMD) who are already triple-class exposed (TCE) including proteasome inhibitor (PI), immunomodulatory drugs (IMiD), and an anti-CD38 monoclonal antibody. EMD is defined as soft tissue/organ-associated plasmacytomas that have no contact with bony structures. It represents an aggressive form of MM and occurs when myeloma cells spread and form tumours (plasmacytomas) in areas such as soft tissues and organs. EMD is commonly observed in haematologic malignancies such as MM, with a prevalence of roughly 6%–20% in r/r MM. The current standard of care (SOC) for patients with r/r MM with EMD includes combination regimens with PI, IMiD, or anti-CD38 monoclonal antibodies and may also involve chimeric antigen receptor (CAR)-T cell therapy or radiotherapy. Despite the promising efficacy of these advanced therapies, patients with MM and EMD consistently show lower response rates and shorter durations of remission across clinical trials compared to those with r/r MM without EMD. This highlights a significant unmet need for more effective therapeutic options in this high-risk population. According to GlobalData's Multiple Myeloma: Epidemiology Forecast to 2032 report, the number of diagnosed prevalent cases of MM in the eight major markets (8MM: US, France, Germany, Italy, Spain, UK, Japan, and China) is projected to increase from 328,151 in 2025 to 352,348 by 2032 at an annual growth rate of 1.12%. The RedirecTT-1 trial is the largest EMD study to date, with 90 patients enrolled who were TCE. The investigational combination of Tecvayli and Talvey demonstrated a robust overall response rate (ORR) of 78.9% (95% CI: 69.0–86.8), with 54.4% achieving a complete response or better. Notably, high response rates were maintained even among patients previously treated with BCMA CAR-T (ORR: 83.3%, 95% CI: 58.6–96.4) and anti-FcRH5 bispecifics (ORR: 75.0%, 95% CI: 34.9–96.8). At a median follow-up of 13.4 months, 66.2% of responders remained in remission, indicating the potential for deep and sustained responses. Progression-free survival at one year was 61.0%, while 64.1% of patients maintained their responses, with a median duration of response of 13.8 months. Overall survival data had not yet matured, but the one-year survival rate was reported at 74.5%. Discontinuations due to adverse events (AEs) were infrequent; only four patients discontinued Talvey. Most cases of cytokine release syndrome and immune effector cell-associated neurotoxicity syndrome were Grade 1 and 2. 10 patients (11.1%) experienced Grade 5 AEs, five of which were infection-related, consistent with infection rates observed in monotherapy studies involving BCMA-targeting bispecifics. The impressive results from the first oncology study to combine two bispecific antibodies are likely to reshape the SOC for patients with r/r MM and EMD. This dual-antigen targeting strategy enhances tumour cell recognition in a biologically and genetically heterogeneous patient population, helps overcome treatment resistance, and reduces the risk of relapse caused by antigen escape, particularly in those with EMD. Despite the strong efficacy and durability of response, the high incidence of Grade 3 and 4 infections and infection-related deaths highlights the need for careful consideration of dosing strategies and prophylactic interventions, including intravenous immunoglobulin, antibacterial, and antiviral therapies. In parallel, J&J is also advancing its BiTE portfolio through the Phase III MonumenTAL-6 clinical trial, which combines Tecvayli and Talvey, with results expected in 2026. J&J already dominates the MM market with Tecvayli, Talvey and its CAR-T cell therapy Carvykti (ciltacabtagene autoleucel), and is continuing to expand its pipeline. One of these assets, a trispecific T-cell engager, JNJ-79635322, is currently being evaluated in a Phase I clinical trial. It targets CD3, BCMA, and GPRC5D, and, if it progresses to later-stage trials and success, could become the first-in-class trispecific antibody in R/R MM. Its single-agent design offers a potential advantage in the overcrowded BiTE market, although it remains in early development. According to GlobalData's analyst consensus forecast, Tecvayli and Talvey are projected to generate global sales of $4.4bn and $1.8bn. respectively by 2031. "EHA 2025: J&J's dual-targeting bispecifics could redefine SOC for r/r MM" was originally created and published by Clinical Trials Arena, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
04-06-2025
- Business
- Yahoo
Sanofi announces new data from two clinical studies on Sarclisa
New data from two clinical studies of the investigational use of Sarclisa administered subcutaneously via an on-body injector in relapsed or refractory multiple myeloma support the potential use of this innovative delivery method to advance patient care, while upholding Sarclisa's efficacy and safety profile. The results were presented at the American Society of Clinical Oncology Annual Meeting and include full data from the IRAKLIA phase 3 study, the first to incorporate the use of an OBI in the treatment of MM, and demonstrate non-inferior efficacy and pharmacokinetics compared to Sarclisa intravenous infusion. The OBI offers the potential to improve the overall patient experience in MM treatment. Recent studies and surveys suggest the use of an OBI may be associated with greater convenience, flexibility, and patient satisfaction compared to IV or manual SC administration methods.1 In addition, an OBI may also streamline the administration process for providers, potentially reducing the physical burden on nurses and enabling them to possibly move freely through the use of a hands-free device while monitoring the patient during injection. The IRAKLIA phase 3 study and the IZALCO phase 2 study presented at ASCO were conducted using Enable Injections' enFuse hands-free OBI, an automated injector designed to subcutaneously administer high-volume medicines beginning with the click of a button, to administer the hyaluronidase-free SC formulation of Sarclisa. The enFuse device uses a 30 gauge, hidden, and retractable needle that is smaller compared to some of the commonly used large-volume SC injection needles, which may support patient comfort. The safety and efficacy of Sarclisa SC administered with the OBI or manual administration are investigational and have not been approved for use by any regulatory authority. IRAKLIA is a global, randomized, open-label, pivotal phase 3 non-inferiority study comparing Sarclisa SC administered via an OBI and Sarclisa IV, both in combination with pomalidomide and dexamethasone in adult patients with R/R MM who have received at least one prior line of treatment. At the data cut-off of November 6, 2024, and a median follow-up of 12 months, the study demonstrated: Primary endpoints: Objective response rate with Sarclisa SC-Pd was 71.1% compared to 70.5% with Sarclisa IV-Pd, establishing non-inferiority. Observed Sarclisa mean concentration before dosing at steady state with Sarclisa SC-Pd was 499 ug/mL compared to 341 ug/mL with Sarclisa IV-Pd, establishing non-inferiority. Secondary endpoints Very good partial response or better rates were consistent between Sarclisa SC-Pd and Sarclisa IV-Pd at 46.4% and 45.9%, respectively. Observed Sarclisa mean C trough at 4 weeks with Sarclisa SC-Pd was 421 ug/mL compared to 302 ug/mL with Sarclisa IV-Pd. Systemic infusion reactions were significantly lower with Sarclisa SC-Pd, occurring in only 1.5% of patients compared to 25% of those treated with Sarclisa IV-Pd. Of note, nearly all IRs occurring were grade 1 or 2 and resolved within one day. No patients in the Sarclisa SC-Pd arm discontinued treatment due to a systemic IR. Most Sarclisa SC-Pd-treated patients reported being satisfied or very satisfied with their injection compared to 53.4% in the Sarclisa IV-Pd arm, demonstrating the positive impact of this innovative method of administration on the patient experience. 99.9% of Sarclisa SC OBI injections were successfully delivered with no significant safety concerns related to the OBI. Progression-free survival rates at 12 months were also similar, reaching 66.1% for patients treated with Sarclisa SC-Pd compared to 65.1% of patients treated with Sarclisa IV-Pd. The overall safety profile of Sarclisa SC-Pd observed in this study was consistent with the established safety profile of Sarclisa IV-Pd, but with a notably lower rate of systemic IRs. No new safety concerns were observed, except for low-grade local injection site reactions associated with SC administration that occurred with a low incidence. Nearly all ISRs were grade 1, except for one episode of grade 2. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on SNY: Disclaimer & DisclosureReport an Issue Sanofi price target raised to EUR 110 from EUR 108 at Guggenheim Sanofi price target lowered to EUR 118 from EUR 120 at Berenberg Oppenheimer bullish on Nurix as Sanofi opt-in, competitor data derisk STAT6 Sanofi price target lowered to EUR 108 from EUR 121 at Guggenheim Morning Movers: Trump to bump steel tariffs, pharma companies announce deals Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
