@save they may be selling anything above that 1630 fair dues, but Genting has made no such recovery all other counters have had a good run! Except Genting and still we have faith in the old far. Only saviour is TauRX and MHRA and not US as they won’t approve non US based pharmaceuticals unless they have huge presence in US. US by this means is not open market for sure just pretend.
According to Maybank IB Research, the share price weakness was more likely due to foreign selling from the weaker ringgit compared to the US dollar.
The research house added that since inflation in the United States has tapered down, and the ringgit is likely to recover against the dollar backed by the prospect of the Federal Reserve cutting the interest rate, it hopes the foreign selling will decrease.
“Our FX Research Team forecasts the US dollar/ringgit to recover to 4.600 by end-2024, and 4.500 by mid-2025 from 4.718 as at June 30, 2024.
Times have indeed changed since Trump's first term. The interest rate environment is much higher today, and maintaining high rates indefinitely is not sustainable. The Fed may have to balance between supporting the economy and keeping the dollar "strong".
Foreign fund nett buying Day 13 yesterday +64M, Local institution keep nett selling -84M. KLCI short term target 1630 seems broken, let see closing index if can maintain above 1630. Any successful breakout will bring KLCI towards 1680! Is Genting turn this round? Watch 4.85
Alzheimer's biotech Asceneuron raises $100M to see if it can compete with Lilly, Biogen on tau
A small Swiss biotech has raised a $100 million Series C to start testing its oral small molecule for Alzheimer’s disease in a Phase 2 later this year.
Asceneuron, a Merck KGaA spinout, is developing the O-GlcNAcase (OGA) inhibitor ASN51 and is hoping to go up against the two leading drugmakers in the Alzheimer’s field: Eli Lilly and Biogen.
The 12-year-old biotech started raising the Series C around the beginning of the year, CEO Barbara Angehrn Pavik said in an interview. She joined last fall after helping Vifor exit to CSL for $11.7 billion as chief business officer. Asceneuron was light on specifics of the Phase 2 trial design, including whether it’d be a global study.
Led by Novo Holdings, the Series C is expected to fully fund the trial and potentially see whether ASN51 can be developed for additional conditions, including Parkinson’s and amyotrophic lateral sclerosis, according to new board member Naveed Siddiqi, a senior partner on the venture investments team at Novo Holdings.
In addition to Novo Holdings, other investors in the Series C include new backers EQT Life Sciences’ LSP Dementia Fund, OrbiMed and SR One, along with existing financial supporters M Ventures, Sofinnova Partners, GSK Equities Investments and Johnson & Johnson Innovation’s JJDC. Race with Lilly, Biogen
Biogen and Lilly are also developing their own experimental medicines aiming to inhibit the OGA enzyme with the goal of slowing down or curbing the buildup of tau protein.
Biogen and Lilly’s current marketed drugs — Leqembi and Kisunla, respectively — go after the pesky protein amyloid. But their new medicines, alongside Asceneuron, seek to destroy tau. The neurodegenerative-linked protein comes after amyloid and can damage neurons upon accumulation.
Lilly is in the lead on the OGA front, with a Phase 2 of its drug LY3372689 estimated to wrap up this summer, according to the federal trials database. Biogen’s candidate, named BIIB113, completed a Phase 1 last year. Multiple other drugmakers are developing anti-tau treatments with different approaches.
Leqembi was approved in 2023, but has had a slow commercial rollout, and Kisunla secured FDA approval last month after multiple delays over the past year. These anti-amyloid drugs have to be infused, which can be a strain on healthcare systems and can cause logistical hurdles for patients, and they’ve come with safety concerns about brain swelling and bleeding.
“The infrastructure and cost of this is enormous, so what the field really needs is an oral, a pill, you could take at home. And what we picked up was that there is a new class coming through of OGA inhibitors, which Lilly, Biogen and Asceneuron are developing,” Siddiqi said.
“Lilly will hopefully validate this class later on this year, and then we are second after that in a very large market,” Siddiqi said. He said it’s believed that tau is “more highly correlated with the loss of your cognition than amyloid is.”
The field has been trying to tackle tau for years. Lilly, Biogen, Roche, AbbVie and others have attempted anti-tau approaches with monoclonal antibodies, but none of them panned out in key clinical studies. “If you want an efficacious tau-targeting approach or therapy, it really is going to need to influence the aggregation of tau inside the cell,” Asceneuron SVP of R&D Ryan Schubert said. ----------------------
Asceneuron's development stage now is like 19 years ago when Taurx initiated phase 2 REMBER trial using first generation MTC drug formula.
September meeting. FDA wants us to combine both AA and Full Approval sessions into 1 meeting instead of 2 separate meetings. KNN how to do both of them within a 60 min meeting? I think better focus on AA liow as Full Approval seems like a long shot to me due to trial placebo issues.
Accelerated Approval. Its usually a 8 to 10 yrs temporary commercialisation Approval to sell the drug but need to do n complete another confirmatory trial within this duration. AA primarily deals with biomarkers like Tau reduction, NfL reduction, slowdown in brain shrinkage to gain quick temporary approval. For taurx's case, although our drug can totally halt cognition decline n even reverse back up (its a cure), our placebo arm was later found to be an active dose (a low dose MTC formula for blue pee discolouration). Hence using traditional full approval standards, i doubt FDA will give us full approval (didn't meet primary endpoints measurements when compared against placebo arm)
MAGA: Trump will make the US great again. With Resorts World New York City and Resorts World Las Vegas expected to see exponential growth, Genting Berhad could be headed to the moon!
@Riaz, unfortunately FDA is not our friend. The FDA officials (civil service) are usually more cozy with large pharma MNCs due to future job prospects at the private sector.
Indeed Genting is a big laggard. It needs a catalyst. It seems there are nobody willing to chase. When time comes like an earthquake it will catapult! Wait at the starting blocks. Anytime after Sept I say.
Uncertainties persist as investors worry that tech stocks will stumble after the US presidential election. Consider buying tech stocks after the election.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
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It seems that local institutions and retailers are unloading shares anything above 1630 recently.......