IAMGOLD Shares Surge After Agreeing To Sell Boto Gold To Managem

European Economics News Preview: Eurozone Current Account, Consumer Confidence Due

Current account and consumer confidence from the euro area are the top economic news due on Tuesday, headlining a busy day for the European economic news.

At 2.00 am ET, Destatis is slated to publish Germany’s producer prices for November. Economists forecast producer price inflation to ease to 30.6 percent from 34.5 percent in October.

In the meantime, Swiss foreign trade data is due for November. The surplus totaled CHF 3 billion in October.

At 4.00 am ET, the European Central Bank publishes euro area current account data for October. The current account balance had showed a deficit of seasonally adjusted EUR 8.1 billion in September.

At 8.00 am ET, Hungary’s central bank announces its monetary policy decision. The bank is expected to hold its benchmark rate at 13.0 percent.

At 10.00 am ET, the European Commission is slated to release consumer confidence survey results. The euro area confidence index is forecast to rise to -22 in December from -23.9 in November.

Horizon Says UPLIZNA Approved By Brazilian Health Regulatory Agency As Monotherapy For NMOSD

Biotechnology company Horizon Therapeutics plc (HZNP) announced Tuesday that the Brazilian Health Regulatory Agency (ANVISA) has approved UPLIZNA as a monotherapy for the treatment of adult patients with NMOSD who are AQP4-IgG+.

This rare autoimmune disease is caused by inflammation in the central nervous system, resulting in severe and recurrent attacks that can lead to permanent disability, such as paralysis and vision loss. An estimated 10,000 people in Brazil live with the disease.

A primary goal of treatment is to help prevent cumulative damage and permanent disability that can be caused by subsequent attacks.

In the N-MOmentum pivotal clinical trial, UPLIZNA demonstrated a significant reduction in the risk of an NMOSD attack with only two infusions per year, following the initial loading doses.

UPLIZNA was approved by the U.S. Food and Drug Administration (FDA) in June 2020, by the Japanese Ministry of Health, Labor and Welfare in March 2021 and by the European Commission (EC) in April 2022.

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Gilead Sciences Slips After Kite’s Acquisition Of Tmunity

Gilead Sciences, Inc. (GILD) shares are sliding more than 4 percent on Tuesday morning trade after Kite, a Gilead company agreed to acquire Tmunity Therapeutics to pursue next-generation CAR T-Cell Therapy advancements in cancer. The transaction is expected to reduce Gilead’s earnings per share by approximately $0.18-$0.22. The financial terms of the agreement were not disclosed.

The transaction is expected to close in the first quarter of 2023.

Subaru Recalls Over 271K SUVs Due To Fire Hazard

Subaru has recalled over 271,000 SUVs because some of them could catch fire.

The company has advised owners of 271,694 units of 2019 to 2022 model year Subaru Ascent SUVs to park them outside, away from garages or other structures, and not to leave the vehicles unattended with the engine running.

According to the company, the ground bolt that secures the ground terminal of the Positive Temperature Coefficient (PTC) heater may have been improperly fastened, which could result in melting of the ground terminal and surrounding components.

The PTC heater is part of a back-up heating system that operates until the engine is warmed up enough to heat the passenger cabin.

If an owner notices or smells smoke coming from the dash or driver’s footwell area, the company has advised that they should immediately stop operating the vehicle and turn the ignition switch to the “Off” position.

Dealers will replace the PTC heater ground bolts and if necessary, replace the ground wire and the connector holder, free of charge.

Owner notification letters are expected to be mailed February 6, 2023

Kobo, Serving Mediterranean Fare, Opens in the East Village

A new life for Paris Café in the financial district, classic fare in Hell’s Kitchen, and more restaurant news.

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By Florence Fabricant

Athenex Spikes On Positive Results From Oral Paclitaxel Combination Study In Breast Cancer

Athenex, Inc. (ATNX) shares are gaining more than 48 percent on Tuesday after announcing Quantum Leap Healthcare reported positive results in the Phase 2 trial of oral paclitaxel plus encequidar in combination with a PD-1 inhibitor and carboplatin in the triple-negative subgroup of high-risk early-stage breast cancer.

Quantum Leap Healthcare Collaborative plans to present the results at upcoming national meetings in the second quarter of 2023.

The study confirmed the finding of less neuropathy for Oral Paclitaxel compared to intravenous paclitaxel in metastatic breast cancer studies.

Currently, shares are at $0.2141, up 58.59 percent from the previous close of $0.1350 on a volume of 89,081,659.

IAMGOLD Shares Surge After Agreeing To Sell Boto Gold To Managem

IAMGOLD Corp. (IAG,IMG.TO) shares are progressing more than 25 percent on Tuesday morning trade after the company announced an agreement to sell the Boto Gold project to surrounding exploration assets to Managem for $282 million.

The transaction is expected to close over the course of the second quarter into the early third quarter of 2023.

Currently, shares are at $2.29, up 25.82 percent from the previous close of $1.82 on a volume of 8,300,857.