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Aurinia Pharmaceuticals Reports First Quarter 2024 Financial and Operational Results

Retrieved on:

Jeudi, mai 2, 2024

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today issued its financial results for the first quarter ended March 31, 2024.

Key Points:

Aurinia Pharmaceuticals Inc. (NASDAQ: AUPH) (Aurinia or the Company) today issued its financial results for the first quarter ended March 31, 2024.
Aurinia rapidly completed its corporate restructuring in the first quarter, reducing employee headcount by approximately 25%.
Financial Results for the Three Months Ended March 31, 2024
Total net revenue was $50.3 million and $34.4 million for the three months ended March 31, 2024 and March 31, 2023, respectively.
Aurinia will host a conference call and webcast to discuss the quarter ended March 31, 2024 financial results today, Thursday, May 2, 2024 at 8:30 a.m.

Artiva Biotherapeutics Announces First Patient Dosed in Phase 1 Trial of AlloNK® Cell Therapy Candidate in Lupus Nephritis

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Mercredi, avril 17, 2024

AlloNK is a non-genetically modified, allogeneic, cryopreserved NK cell therapy candidate being developed to enhance the activity of B-cell targeting monoclonal antibodies to drive B-cell depletion.

Key Points:

AlloNK is a non-genetically modified, allogeneic, cryopreserved NK cell therapy candidate being developed to enhance the activity of B-cell targeting monoclonal antibodies to drive B-cell depletion.
To our knowledge, this is the first time a patient has received an allogeneic NK cell therapy candidate in a U.S. clinical trial for treatment of an autoimmune disease.
Artiva is collaborating with Lupus Therapeutics, the clinical research affiliate of the Lupus Research Alliance, to support the evaluation of AlloNK for LN.
The Network, overseen by Lupus Therapeutics, is comprised of leading research centers throughout North America with the purpose of accelerating and optimizing lupus clinical trials.

Decomposing systemic risk: the roles of contagion and common exposures

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Mardi, avril 23, 2024

Tao, CIBC, Tax, RWA, Risk, European Systemic Risk Board, Research Papers in Economics, Contagion, RT, The Big Six, NBC, International, Shock, Observation, Bank of Canada, HTC, European Economic Association, The Washington Post, Great, JPMorgan Chase, Paper, GM, Environment, Political economy, Journal of Financial Economics, COVID-19, Perception, BNS, Website, Silicon, IAT, Cifuentes, Probability, Balance sheet, RAN, Medical classification, Algorithm, Information technology, Quarterly Journal of Economics, LN, Nature, European Journal, Royal Bank of Canada, Technical report, Journal of Political Economy, Equitable Bank, Bankruptcy, RAI, PDF, Private, ECB, Policy, CHS, Supercapacitor, Social science, Journal of Financial Stability, Intelligence (journal), Elsevier, Home, Cambridge University Press, Journal, Springer Science+Business Media, Research, Classification, Regulation, News, EQB, Credit, Literature, AIK, European Central Bank, COVID, SVAR, Section 5, Management science, DRA, M4, VL, National bank, Government, ISSN, BMO, Panel, International Financial Reporting Standards, BIS, FIS, Basel III, Commerce, Scotiabank, C32, Econometric Society, Interbank, Fraud, Section 4, Bank, Schedule, VAR, Section 3, The Journal of Finance, RBC, Volcanic explosivity index, Fire, Wassily Leontief, Financial economics, Metric, Section 2, L14, Central bank, Superintendent, Bank of Montreal, Kronecker, BOC, Lithium, BCBS, Sale, Macroeconomic Dynamics, Christophe, CWB, LBC, NHA, Imperial Bank, Private equity, Quarterly Journal, National Bank of Canada, C51, Canadian Western Bank, Currency crisis, JEL classification codes, Victor Drai, L.1, MFC, Silicon Valley Bank, EB, Laurentian Bank of Canada, Federal, RA1, Series, W0, FEVD, Journal of Econometrics, Aggregate, University, FRB, MB, Financial institution, Element, Health, Book, Angels & Airwaves, Common, OSFI, GFC, Reproduction, K L, Systematic, Housing, G21, Home Capital Group, Communications satellite

Abstract

Key Points:

Abstract
We evaluate the effects of contagion and common exposure on banks? capital through
a regression design inspired by the structural VAR literature and derived from the balance
sheet identity.
Contagion can occur through direct exposures, fire sales, and market-based
sentiment, while common exposures result from portfolio overlaps.
First, we document that contagion varies in time, with the highest levels
around the Great Financial Crisis and lowest levels during the pandemic.
Our new framework complements
traditional stress-tests focused on single institutions by providing a holistic view of systemic risk.
While existing literature presents various contagion narratives, empirical findings on
distress propagation - a precursor to defaults - remain scarce.
We decompose systemic risk into three elements: contagion, common exposures, and idiosyncratic risk, all derived from banks? balance sheet identities.
The contagion factor encompasses both sentiment- and contractual-based elements, common exposures consider systemic
aspects, while idiosyncratic risk encapsulates unique bank-specific risk sources.
Our empirical analysis of the Canadian banking system reveals the dynamic nature of contagion, with elevated levels observed during the Global Financial Crisis.
In conclusion, our model offers a comprehensive lens for policy intervention analysis and
scenario evaluations on contagion and systemic risk in banking.
This
notion of systemic risk implies two key components: first, systematic risks (e.g., risks related
to common exposures) and second, contagion (i.e., an initially idiosyncratic problem becoming
more widespread throughout the financial system) (see Caruana, 2010).
In this paper, we decompose systemic risk into three components: contagion, common exposures, and idiosyncratic risk.
First, we include contagion in three forms: sentiment-based contagion, contractual-based
contagion, and price-mediated contagion.
In this context,
portfolio overlaps create common exposures, implying that bigger overlaps make systematic
shocks more systemic.
With the COVID-19 pandemic starting
in 2020, contagion drops to all time lows, potentially related to strong fiscal and monetary
supports.
That is, our
structural model provides a framework for analyzing the impact of policy interventions and
scenarios on different levels of contagion and systemic risk in the banking system.
This provides a complementary approach to
seminal papers that took a structural approach to contagion, such as DebtRank Battiston et al.
More generally, the literature on networks and systemic risk started with Allen and Gale
(2001) and Eisenberg and Noe (2001).
The matrix is structured as follows:
1
In our model, we do not distinguish between interbank liabilities and other types of liabilities.
In other words, we can and aim to estimate different degrees
of contagion per asset class, i.e., potentially distinct parameters ?Ga .
For that, we build three major
metrics to check: average contagion, average common exposure, and average idiosyncratic risk.
N i j
et ,
Further, we define the (N ?K) common exposure matrix as Commt = [A

(20)

et ]diag (?C
?L

such that average common exposure reads,
average common exposure =

1 XX
Commik,t .
N i j
(22)

20

? c ),

The three metrics?average contagion, average common exposure, and average idiosyncratic risk?provide a comprehensive framework for understanding banking dynamics.
Figure 4 depicts the average level of risks per systemic risk channel: contagion risk, common exposure, and idiosyncratic risk.
Figure 4: Average levels of contagion (Equation (20)), common exposure (Equation (21)), and idiosyncratic risk
(Equation (22)).
The market-based contagion is the contagion due to
investors? sentiment, and the network is an estimate FEVD on volatility data.
For most of
the sample, we find that contagion had a bigger impact on the variance than common exposures.

Transactional demand for central bank digital currency

Retrieved on:

Jeudi, avril 18, 2024

POS, Learning, CB, E41, Calibration, Financial regulation, Interest, ATM, Oesterreichische Nationalbank, Journal of Macroeconomics, Sensitivity, Diffusion, ITunes, Bank of Canada, P2P, Safety, NBER, Benchmarking, Prevalence, SPACE, Bernoulli, Journal of Monetary Economics, E42, Paper, European Parliamentary Research Service, Apollo, Environment, Political economy, COVID-19, Review of Economic Dynamics, Abramov, Loss, Working paper, Choice, Collection, Probability, Dowd, Castrén, Face, Noise, History, Restaurant, Journal of Political Economy, ECB, Policy, Diary, Model, Utility, Clutch (eggs), Canadian International Council, Journal of Financial Stability, JEL, Digital, Bias, Journal, Research, Classification, CBDC, SARS-CoV-2, ECMI, Credit, Odds ratio, Literature, European Central Bank, Mises Institute, Monetary economics, Section 5, Occupation, E47, Financial intermediary, Government, Supermarket, Friction, Finance, BIS, Love, Bart, The Economic Journal, Education, Risk, Section 4, Privacy, Section 3, Appetite, App Store (iOS/iPadOS), Human, DNB, International finance, Section 2, Leonhard Euler, Payment, Attention, Central bank, Consumer, EPRS, Habit, American Economic Review, Confidence interval, FCO, Central bank digital currency, Exercise, Letizia, Applied economics, Digital currency, Sale, Business cycle, Amazon, Community business development corporation, Control, Chart, Proxy, American Economic Journal, LN, Bank, Fintech, IMF, Analysis, Aggregation, Cryptocurrency

Key Points:

Caribou Biosciences Expands Clinical Development of CB-010 with FDA Clearance of IND in Lupus

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Jeudi, avril 4, 2024

BERKELEY, Calif., April 04, 2024 (GLOBE NEWSWIRE) -- Caribou Biosciences, Inc. (Nasdaq: CRBU), a leading clinical-stage CRISPR genome-editing biopharmaceutical company, today announced that it received clearance of its Investigational New Drug (IND) application from the U.S. Food and Drug Administration (FDA) for CB-010, an allogeneic anti-CD19 CAR-T cell therapy with a PD-1 knockout (KO), for the treatment of lupus nephritis (LN) and extrarenal lupus (ERL). The Phase 1, multicenter, open label GALLOP clinical trial of CB-010 in patients with LN and ERL is expected to initiate by year-end 2024.

Key Points:

The Phase 1, multicenter, open label GALLOP clinical trial of CB-010 in patients with LN and ERL is expected to initiate by year-end 2024.
CB-010 targets CD19, a protein on the surface of B cells, and has a PD-1 knockout (KO) that reduces CAR-T cell exhaustion.
CB-010 holds the potential for deep depletion of disease-causing B cells which could reset the immune system, leading to sustained drug-free remission.
Instead, the chRDNA technology allows for precise insertion of the CAR at an intended location within the T cell genome.

Synthekine Announces U.S. FDA Clearance of IND Application for CD19 CAR-T and Orthogonal IL-2 Combination Therapy, SYNCAR-001 + STK-009, for Treatment of Lupus Without Lymphodepletion

Retrieved on:

Mardi, mars 26, 2024

Biotechnology, FDA, Health, Pharmaceutical, Clinical Trials, LN, Risk, Patient, NYU, SLE, IND, Investigational New Drug, Safety, Lupus nephritis, Inc., CD19, Food, Medicine, Pharmaceutical industry

SYNCAR-001 + STK-009 is a cytokine-inducible cell therapy regimen built on Synthekine’s proprietary orthoIL-2 technology.

Key Points:

SYNCAR-001 + STK-009 is a cytokine-inducible cell therapy regimen built on Synthekine’s proprietary orthoIL-2 technology.
The SYNCAR-001 + STK-009 combination therapy is in a Phase 1 study ( NCT05665062 ) in CD19+ hematologic malignancies.
“However, successful treatment with CD19 CAR-Ts requires patients to be lymphodepleted, a significant burden on the patient, physician and healthcare system.
By leveraging Synthekine’s orthoIL-2 technology, STK-009 has the potential to drive SYNCAR-001 cell engraftment and controlled cell expansion without lymphodepletion.

PacketFabric Appoints Three New Industry-Leading Board Members, Including IT and Telecom Executive Peter Hase as Chairman of the Board

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Lundi, février 26, 2024

Broadcom Inc., GIC, CA Technologies, Interxion, Cisco, Growth, LN, Network as a service, Telstra, Nagpuri language, Digital Realty, Network, Telecommunications, DEC Alpha, Management

CULVER CITY, Calif., Feb. 26, 2024 /PRNewswire/ -- PacketFabric, a leading Network as a Service (NaaS) innovator and a Digital Alpha Advisors, LLC portfolio company, today named three new board members, including Peter Hase as chairman of the board. Ketsen Networks CEO Surya Panditi and Lensbridge Capital founder & CEO LN Sadani have also been appointed to the board as directors.

Key Points:

Ketsen Networks CEO Surya Panditi and Lensbridge Capital founder & CEO LN Sadani have also been appointed to the board as directors.
Hase has directed several hypergrowth companies including Megaport, another NaaS provider, where he was Chief Commercial Officer and led the business through a sustained period of growth during his seven-year tenure.
"His appointment gives the company tremendous domain expertise and drives operational excellence as PacketFabric enters its next stage of growth."
Surya and LN both bring significant executive experience to the Board both from an investor's perspective and as technology leaders.

Aurinia Discloses 2023 Year-End Financial and Operational Results, Announces Corporate Actions Focused on Enhancing Shareholder Value

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Jeudi, février 15, 2024

This includes corporate actions designed to enhance shareholder value, including an exclusive focus on driving commercial execution of the LUPKYNIS® (voclosporin) business, and a significant share repurchase program.

Key Points:

This includes corporate actions designed to enhance shareholder value, including an exclusive focus on driving commercial execution of the LUPKYNIS® (voclosporin) business, and a significant share repurchase program.
The Company had cash, cash equivalents, restricted cash and investments of approximately $350.7 million as of December 31, 2023.
There were approximately 2,066 patients on LUPKYNIS therapy as of December 31, 2023, compared to 1,525 at the end of 2022.
From January 1 through the end of December 2023, the Company recorded 1,791 PSFs, compared to 1,650 in the prior year.

Annexon Reports Significant Progress with its Priority Programs and Third Quarter 2023 Financial Results

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Lundi, novembre 13, 2023

EMA orphan drug designation requires that a novel rare disease therapeutic demonstrates the potential for significant benefit over available therapies.

Key Points:

EMA orphan drug designation requires that a novel rare disease therapeutic demonstrates the potential for significant benefit over available therapies.
Importantly, Annexon also announced that it has achieved target enrollment of 225 patients in the randomized, double-blind, placebo-controlled Phase 3 trial of ANX005 in patients with GBS.
Research and development (R&D) expenses: R&D expenses were $27.9 million for the quarter ended September 30, 2023, reflecting the advancement of the company’s priority programs, including GBS, GA and ANX1502, compared to $27.9 million for the quarter ended September 30, 2022.
General and administrative (G&A) expenses: G&A expenses were $6.9 million for the quarter ended September 30, 2023, compared to $8.2 million for the quarter ended September 30, 2022.

Nkarta Reports Third Quarter 2023 Financial Results and Corporate Highlights

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Jeudi, novembre 9, 2023

In June 2023, Nkarta reported updated clinical data from its Phase 1 clinical trial evaluating NKX101 in patients with relapsed or refractory (r/r) AML.

Key Points:

In June 2023, Nkarta reported updated clinical data from its Phase 1 clinical trial evaluating NKX101 in patients with relapsed or refractory (r/r) AML.
In October 2023, Nkarta announced the opening of a new cohort in its Phase 1 study of NKX019 in r/r NHL.
As of September 30, 2023, Nkarta had cash, cash equivalents, restricted cash, and investments of $278.4 million.
Net loss was $25.6 million, or $0.52 per basic and diluted share, for the third quarter of 2023.