Vaxart: Phase II Study Of Wuhan S-only Oral Pill COVID-19 Vaccine Candidate Meets Endpoints

Vaxart, Inc. (VXRT) reported positive top-line data from the first part of a planned two-part phase II study of its Wuhan S-only oral pill COVID-19 vaccine candidate, VXA-CoV2-1.1-S. The company said the data showed that the trial met its primary safety and secondary immunogenicity endpoints. In the trial, the VXA-CoV2-1.1-S vaccine construct was safe and well-tolerated.

“The results clearly indicate that the S-only construct improved antibody responses compared with the data we previously generated for the S+N construct, and also boosted immune responses in subjects who previously received an mRNA vaccine,” said Sean Tucker, Vaxart’s Founder and Chief Scientific Officer.

Vaxart is evaluating new Omicron-based constructs as Omicron-only monovalent vaccine candidates and as bivalent candidates in combination with the company’s Wuhan constructs.

The company expects to move forward with the best possible vaccine constructs for its planned COVID-19 Omicron challenge in the second half of 2023 with hVIVO, and larger trials in the U.S. and internationally.

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Novo Nordisk To Acquire Forma Therapeutics – Quick Facts

Novo Nordisk and Forma Therapeutics, Holdings Inc. (FMTX) have entered into a definitive agreement under which Novo Nordisk will acquire Forma Therapeutics for $20 per share in cash, which represents a total equity value of $1.1 billion. Novo Nordisk noted that the acquisition will not impact its previously communicated operating profit outlook for 2022 or the ongoing share buy-back program. The transaction is anticipated to close in the fourth quarter of 2022.

Forma Therapeutics is a clinical-stage biopharmaceutical company focused on transforming the lives of patients with sickle cell disease and rare blood disorders. Novo Nordisk said the acquisition, including its lead development candidate, etavopivat, is aligned with the company’s strategy to complement and accelerate its scientific presence and pipeline in hemoglobinopathies.

Activision Blizzard Issues Update On Merger Deal – Quick Facts

In a letter sent to all employees, Activision Blizzard, Inc. (ATVI) CEO Bobby Kotick provided an update on the company’s progress towards the completion of its merger with Microsoft. With the number of government approvals required, the company still believes the deal is most likely to close in Microsoft’s fiscal year ending June of next year.

“We are fortunate to have already received approvals from a couple of countries, and the process with all of the regulators is generally moving along as we expected,” Bobby Kotick stated.

Chicago Business Barometer Inches Slightly Higher In August

A report released by MNI Indicators on Wednesday showed its reading on Chicago-area business activity was little changed in the month of August.

MNI Indicators said its Chicago business barometer inched up to 52.2 in August from 52.1 in July, with a reading above 50 indicating growth. Economists had expected the business barometer to edge down to 52.0.

The slight uptick came after the Chicago business barometer dropped to its lowest level since August 2020 in the previous month.

The modest increase by the headline index came as the production index jumped to 54.9 in August from 48.2 in July, while the new orders index climbed to 48.9 from 44.5.

On the other hand, MNI Indicators said the employment index edged down to 54.6 in August from 56.1 in July, implying little change in the tightness of the labor market.

The supplier deliveries index also slid to 62.1 in August from 67.1 in July, with MNI Indicators noting stockpiling in the first quarter of the year likely exasperated delivery issues.

With regard to inflation, the prices paid index was nearly unchanged at 81.8 in August, suggesting price pressures remain acute.

Nielsen Shareholders Approve Transaction Agreement With Brookfield – Quick Facts

Nielsen Holdings plc (NLSN) said the company’s shareholders have approved the definitive agreement for Nielsen to be acquired by a private equity consortium composed of Evergreen Coast Capital Corp., an affiliate of Elliott Investment Management L.P., and Brookfield Business Partners L.P. together with institutional partners. Upon closing, Nielsen will become a private company.

The company noted that the transaction, which is expected to close in October 2022, remains subject to customary closing conditions, including approval of the scheme of arrangement to implement the transaction by the UK Court and the delivery of a copy of the court order approving the transaction to the UK Companies Registry.

Genesco Q2 Adj. EPS Tops Estimates; Slashes FY23 Outlook

Specialty retailer Genesco, Inc. (GCO) on Thursday reported that net earnings for the second quarter declined to $7.64 million or $0.59 per share from $10.94 million or $0.75 per share in the prior-year quarter.

Net sales for the quarter decreased 4 percent to $535.33 million from $555.18 million in the same quarter last year. Excluding the impact of lower exchange rates, net sales decreased 1 percent. Total Genesco Comparable Sales declined 2 percent.

On average, three analysts polled by Thomson Reuters expected the company to report earnings of $0.27 per share on revenues of $539.89 million for the quarter. Analysts’ estimates typically exclude special items.

Looking ahead to fiscal 2023, the company now projects adjusted earnings from continuing operations in the range of $6.25 to $7.00 per share on sales between a decline of 3 percent and flat.

Previously, the company expected adjusted earnings from continuing operations in a range of $7.00 to $7.75 per share on sales growth of 1 to 3 percent.

The Street is looking for earnings of $8.12 per share on revenue growth of 2.9 percent to $2.50 billion for the year.

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