Amgen Positive Topline Data In Phase 2 Trial For Olpasiran In Adults With Elevated Lipoprotein

Blue Moose Spinach Artichoke Parmesan Dip Recalled

Blue Moose of Boulder LLC recalled one lot of 7 oz units of its “Spinach Artichoke Parmesan Dip” for potentially containing undeclared tree nut (Cashew) and soy allergens, the U.S. Food and Drug Administration or FDA said in a statement.

The recall was initiated due to mislabeling issue where a small run Spinach Artichoke Cashew Dip was labeled as Spinach Artichoke Parmesan Dip. These improperly labeled units were discovered at the store level when stocking products that did not reveal the presence of the allergens.

The Boulder, Colorado-based company warned that the consumption of the product by people allergic or having severe sensitivity to specific types of allergens such cashews or soy, could lead to serious or life-threatening allergic reactions.

The recall involves 7-ounce square clear plastic container labeled as “Spinach Artichoke Parmesan Dip”. They can be identified by the lot number ink-coded on the side of the container as Lot# SS446931 with Best By date of 8/10/22. The company noted that no other lots were affected by this recall.

The company said no illnesses have been reported to date in connection with the recalled product. It has urged consumers who purchased the product to return it to the retail location where the purchased for a full refund or exchange.

The recalled product was shipped on 5/13/22 to Vons, Albertsons, and Pavilions Grocery Stores located throughout southern California as well as the Las Vegas, Nevada area.

European Economics Preview: Eurozone Economic Confidence Data Due

Economic sentiment from eurozone and flash consumer prices from Germany are due on Monday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to issue Germany’s import prices for April. Economists expect import price inflation to rise to 32.0 percent from 31.2 percent in March.

In the meantime, Statistics Sweden is set to publish revised GDP data and foreign trade figures. Also, retail sales and household spending from Norway are due.

At 3.00 am ET, Spain’s INE is scheduled to issue flash consumer and harmonized prices for May. EU harmonized inflation is seen at 8.2 percent versus 8.3 percent in April.

In the meantime, the National Institute of Economic Research releases Sweden economic tendency survey results. Also, Swiss KOF leading index is due. Economists forecast the leading index to rise to 102.3 in May from 101.7 in the previous month.

At 5.00 am ET, the European Commission is set to issue Eurozone economic sentiment survey results. Economists forecast the economic confidence index to fall slightly to 104.9 in May from 105.0 in the previous month.

At 8.00 am ET, Germany’s flash CPI & HICP data is due. Consumer price inflation is expected to rise to 7.6 percent in May from 7.4 percent in April.

Gold Fields Stock Tanks 21% After It Announces Takeover Of Yamana Gold

Shares of Gold Fields Ltd. (GFI) are tanking over 21% on Tuesday morning after the company said it has agreed to acquire Yamana Gold Inc. (YRI.TO, AUY, AUY.L).

GFI is currently trading at $9.61, down $2.59 or 21.23%, on the Nasdaq.

Gold Fields will acquire Yamana at an exchange ratio of 0.6 Gold Fields consideration shares for each Yamana share, which gives Yamana a valuation of $6.7 billion.

The companies said the combined group will be headquartered in Johannesburg with operations across South Africa, Ghana, Australia, Canada and South America.

Unilever Gains 8% As Activist Investor Nelson Peltz To Join Board

Shares of Unilever PLC (UL) are gaining over 8% on Tuesday morning after the consumer goods company announced the appointment of Nelson Peltz as a non-executive director. The company also confirmed that Peltz’s Trian Fund Management holds a roughly 1.5% stake in the company.

UL is currently trading at $47.92, up $3.94 or 8.96%, on the Nasdaq. The stock opened its trading at $46.80 after closing Friday’s trading at $43.98. The stock has traded between $42.54 and $61.81 in the 52-week period.

Peltz, the CEO of Trian Fund Management, will join Unilever’s board as a non-executive director in July, pledging to help boost the company’s strategy, operations, sustainability, and shareholder value.

Devon Energy Maintains Upward Trend

Shares of natural gas liquids company Devon Energy Corp. (DVN) are rising 4 percent on Tuesday’s trading continuing their upward movement since the past few days. There has not been any company announcement to impact the stock movement.

Recently, the company reported higher profit in its first quarter. The company’s bottom line totaled $989 million, or $1.48 per share. This compares with $213 million, or $0.32 per share, in last year’s first quarter.

The company’s revenue for the quarter rose 85.9 percent to $3.81 billion from $2.05 billion last year.

Currently at $78.74, the stock has traded between $24.05 and $79.19 during the past 52 weeks.

Amgen Positive Topline Data In Phase 2 Trial For Olpasiran In Adults With Elevated Lipoprotein

Amgen, Inc. (AMGN) announced Tuesday positive topline data from the Phase 2 OCEAN(a)-DOSE clinical study, evaluating olpasiran (formerly AMG 890) in 281 adult patients with elevated Lipoprotein(a), or Lp(a), levels over 150 nmol/L and evidence of atherosclerotic cardiovascular disease (ASCVD).

Olpasiran is a small interfering RNA designed to lower the body’s production of apolipoprotein(a), a key component of Lp(a) that has been associated with an increased risk of cardiovascular events.

In the multicenter, randomized, double-blind placebo-controlled trial, olpasiran was administered up to 225 mg subcutaneously every 12 weeks to patients with a median baseline Lp(a) of approximately 260 nmol/L.

These data demonstrated a significant and sustained reduction from baseline in Lp(a) of up to or greater than 90 percent at week 36 (primary endpoint) and week 48 (end of treatment period) for the majority of doses.

The company noted that the Lp(a) reduction was consistent with phase 1 results. No new safety concerns were also identified during this treatment period.