Life

European Economics Preview: UK Revised GDP Data Due

BiondVax Pharma Stock Soars 88% After Inking Agreements For Nanosized Covid-19 Antibody Therapy

Shares of nano-cap company BiondVax Pharmaceuticals Ltd. (BVXV) nearly doubled after the biopharmaceutical company announced that it has inked definitive agreements for development and commercialization of innovative nanosized COVID-19 antibody therapy with Max Planck Institute of Biophysical Chemistry and University Medical Center Göttingen, Germany.

BVXV is currently trading at $2.788, up $1.308 or 88.3784%, on the Nasdaq.

The company said the agreements are part of a broader collaboration, expected to be signed in January 2022, covering development and commercialization of NanoAbs for several other disease indications with large market sizes that leverage their unique binding affinity, stability at high temperatures, and potential for more effective and convenient routes of administration.

Ryanair more than doubles annual loss forecast over Omicron

Airline expects €250m-€450m net loss and cuts passenger number estimates for January by a third

  • Coronavirus – latest updates
  • See all our coronavirus coverage

Last modified on Wed 22 Dec 2021 11.50 EST

Ryanair has more than doubled its annual loss forecast and cut its January traffic estimate by one-third in response to travel restrictions imposed after the emergence of the Omicron variant.

The Irish airline, Europe’s largest by passenger numbers, said it expected a net loss of between €250m (£212m) and €450m in the year to the end of March. That compares with a previous forecast of a loss of €100m–€200m.

The airline cut its December passenger forecast range to 9 million–9.5 million, down from 10 million–11 million.

Ryanair blamed last weekend’s French and German ban on UK arrivals and the suspension of all EU flights to and from Morocco. The airline cut its January traffic forecast to from 10 million passengers to between 6 million and 7 million.

It said it would wait until next month to revise its February and March schedules, “as more scientific information becomes available on the Omicron variant, its impact on hospitalisations, European population and/or travel restrictions”.

Ryanair said it now expected to fly just under 100 million passengers in the year to the end of March. “These figures are hugely sensitive to any further positive or negative Covid news flow,” it said.

VOYA Up 5%; Set To Join S&P MidCap 400 Index

Shares of Voya Financial Inc. (VOYA) are rising over 5% Wednesday morning, following the company’s inclusion in the S&P MidCap 400 Index, effective prior to the opening of trading on Tuesday, December 28.

Voya Financial will replace CoreSite Realty Corp. (COR) in the S&P MidCap 400.

The stock, which has been trading between $54.46 and $70.98 for the past one year, is currently trading at $66.76, up $3.51 or 5.55%. Trading volume is surging over 2.70 million versus an average volume of 1.70 million shares.

BioRestorative Therapies Rising On Clinical Trial Agreement With PRC Clinical

BioRestorative Therapies, Inc. (BRTX) shares are gaining more than 18 percent on Wednesday morning trade after the company announced a Master Service Agreement with the contract research organization – PRC Clinical for Phase 2 clinical trial.

As per the agreement, PRC Clinical will manage BioRestorative’s Phase 2 clinical study of BRTX-100 to treat chronic lumbar disc disease.

Currently, BRTX is trading at $5.39, up 17.94 percent from the previous close of $4.57 on a volume of 7,207,158. The shares have traded in a range of $4.36-$132.00 on average volume of 194,818.

Herald morning quiz: December 23

Test your brains with the Herald’s morning quiz. Be sure to check back on nzherald.co.nz for the afternoon quiz.

To challenge yourself with more quizzes, CLICK HERE.

India adds 33 unicorns in one year, displaces U.K.

U.S., China occupy top 2 slots: Hurun

Adding 33 ‘unicorns’ in a single year has helped India displace the United Kingdom (U.K.) to be third in the list of countries that are home to such enterprises valued at more than $1 billion each, according to a report.

India was placed fourth when it came to the number of unicorns last year. However, the U.S. and northern neighbour China, who occupy the first two ranks, are way ahead, according to the data compiled by Hurun Research Institute.

The U.S. added 254 unicorns and now totals 487 companies in the coveted list, while China added 74 to take its tally to 301 start-ups having a valuation of more than $1 billion, it said.

The top-two occupants are home to 74% of the unicorn universe, it said.

The U.K. added only 15 unicorns to take its total to 39, and hence got displaced by India, it said.

“India is in the midst of a start-up boom, more than doubling its unicorns to take its official tally of unicorns to 54, and overtake the U.K. to third place in the world,” Hurun Report India’s MD and chief researcher Anas Rahman Junaid said.

European Economics Preview: UK Revised GDP Data Due

Revised quarterly national accounts data from the UK is due on Wednesday, headlining a light day for the European economic news.

At 2.00 am ET, the Office for National Statistics releases UK revised quarterly GDP data. The economy is forecast to grow 1.3 percent sequentially in the third quarter, after rising 5.5 percent in the second quarter.

At 2.45 am ET, the French statistical office Insee is slated to release producer prices for November. Economists expect producer prices to climb 2.5 percent on month, following a 2.9 percent rise in October.

At 3.00 am ET, producer prices data from Spain and final foreign trade data from Hungary are due.

Half an hour later, Statistics Sweden releases producer prices and retail sales data for November. Economists expect sales to fall 0.4 percent on month, offsetting the 0.4 percent rise in October.