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The Week Ahead in Biotech (Dec. 19-25): Amgen and Aquestive Regulatory Decisions Key Events of Holiday-Shortened Week

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Biotech stocks reversed course and advanced solidly in the week ending Dec. 17, as an increase in risk aversion pushed investors to buy into defensive stocks. The sector also drew strength from some positive stock-specific news.

Among the regulatory decisions for the week, the Food and Drug Administration gave the green light to argenx SE’s (NASDAQ: ARGX) efgartigimod for the treatment of generalized myasthenia gravis.

AstraZeneca plc (NASDAQ: AZN) and Amgen, Inc. (NASDAQ: AMGN) announced an FDA nod for their Tezspire as a treatment option for severe asthma for those aged 12 years and older. Bristol-Myers Squibb Company‘s (NYSE: BMY) Orencia was approved for the prophylactic treatment of acute graft-versus-host disease.

Calliditas Therapeutics AB (publ) (NASDAQ: CALT) scored an FDA win for Tarpeyo, the first-approved treatment to reduce proteinuria in adults with primary immunoglobulin A nephropathy at risk of rapid disease progression.

Galera Therapeutics, Inc. (NASDAQ: …

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Truist Sees 350% Upside on This Cancer-Focused Biopharma Stock – Read Why

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Truist has initiated coverage on Verastem Oncology Inc (NASDAQ: VSTM) with a Buy rating and $6.00 price target, equivalent to approximately 350% upside.
Analyst Srikripa Devarakonda notes that trading at about 2-times cash, the stock is “undervalued” given its programs in two cancers.
Devarakonda adds that the Verastem base case is supported by a $470 million unadjusted U.S. opportunity in the ovarian cancer program, “early but strong” clinical data, and positive expert feedback.
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“Peek Performance”: Apple’s Next Hardware Event Happens on March 8

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Enlarge (credit: Apple)

Apple will stream its next hardware event to the masses on March 8 at 10 am Pacific (1 pm Eastern), the company announced today. Invitations have already been sent to the press—though the event will be yet another prerecorded, streaming-only presentation with no media in attendance. Apple marketing SVP Greg Joswiak tweeted the now-customary Apple-logo-centric teaser video that doesn’t actually tease anything.

We never know exactly what will be announced at any given Apple event, but Bloomberg’s Mark Gurman reports that the lineup will include a refresh of the budget-friendly iPhone SE and the first iPad Air update in a little over a year.

Rumors have also circulated about updated designs and new Apple Silicon chips for the MacBook Air and the 13-inch MacBook Pro, and the high-end Intel Mac Mini, the 27-inch iMac, and the Mac Pro are all still running Intel chips. The characteristically cryptic “peek performance” tagline does at least hint at new chips for one or more Macs, whether that’s a truly next-gen Apple M2 for thin-and-light laptops or an M1 Pro/Max-focused refresh for the more powerful desktops.

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Original Article: arstechnica.com

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Charles River’s Q4 Earnings Beats Street Expectation, Reaffirms FY22 Outlook

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Charles River Laboratories International Inc’s (NYSE: CRLQ4 sales increased 14.4% Y/Y to $905.1 million, beating the consensus of $888.27 million.

Acquisitions contributed 5.9% to consolidated fourth-quarter revenue growth. Organic revenue growth was 10.5%, driven by contributions from all three business segments. 
Adjusted EPS reached $2.49 higher than $2.39 posted a year ago and …

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