Gilead: Phase 3 TROPiCS-02 Study With Trodelvy Shows Clinically Meaningful Survival Results

Gilead Sciences, Inc. (GILD) reported statistically significant and clinically
meaningful results from the second interim analysis of the key secondary endpoint of overall survival in the phase 3 TROPiCS-02 study evaluating Trodelvy in patients with HR+/HER2- metastatic breast cancer who received prior endocrine therapy, CDK4/6 inhibitors and two to four lines of chemotherapy. The company has submitted a supplemental Biologics License Application to the FDA.

Merdad Parsey, Chief Medical Officer, Gilead Sciences, said: “We look forward to discussing these results with global health authorities, as pre-treated HR+/HER2-
metastatic disease patients currently have limited treatment options and poor
quality of life.”

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Pre-market Movers: CARA, AGFY, TRQ, GWAV, ROOT…

The following are some of the stocks making big moves in Monday’s pre-market trading (as of 07.45 A.M. ET).

In the Green

Agrify Corporation (AGFY) is up over 23% at $1.97
Greenwave Technology Solutions, Inc. (GWAV) is up over 13% at $3.77
PlayAGS, Inc. (AGS) is up over 12% at $8.46
Torrid Holdings Inc. (CURV) is up over 9% at $7.66
F45 Training Holdings Inc. (FXLV) is up over 9% at $2.35
Bed Bath & Beyond Inc. (BBBY) is up over 6% at $13.73

In the Red

Cara Therapeutics, Inc. (CARA) is down over 34% at $7.52
Turquoise Hill Resources Ltd. (TRQ) is down over 20% at $20.99
Root, Inc. (ROOT) is down over 12% at $14.94
Clene Inc. (CLNN) is down over 9% at $3.12
Apexigen, Inc. (APGN) is down over 6% at $7.94

U.S. Reports 10,263 New Covid Cases, 11 Deaths

With 10,263 new positive cases reported on Sunday, the total number of people that have been infected with the coronavirus in the United States has risen to 92,113,114, as per Johns Hopkins University’s latest data.

11 additional deaths on the same day took the total U.S. Covid casualties to 1,033,557.

New Jersey reported the most number of cases – 2,611.

Covid deaths have increased by 11 percent in the last two weeks, while cases have decreased by 8 percent, New York Times’ latest tally shows.

More than 43,000 people are currently in American hospitals with the coronavirus, an increase of 3 percent over the last two weeks. Nearly 5,000 of these patients are admitted in intensive care units.

89,039,885 people have so far recovered from the disease, the Worldometer tally shows.

772 additional deaths were reported globally on Thursday, taking the total number of people who lost their lives due to the pandemic so far to 6,418,454.

Altus Power Swings To Profit In Q2; Reaffirms FY22 Outlook

Altus Power, Inc. (AMPS) announced Monday second-quarter net income attributable to Altus of $24.12 million or $0.16 per share, compared to a net loss of $1.19 million or $0.01 per share in the prior-year quarter.

Operating revenues for the quarter increased 41 percent to $24.76 million from $17.61 million in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.00 per share and revenues of $23.78 million for the second quarter. Analysts’ estimates typically exclude special items.

The company also reaffirmed its full year 2022 adjusted EBITDA guidance in the range of $57 million to $63 million.

Weber Slips To Net Loss In Q3; Sales Down, But Tops View

Weber Inc. (WEBR), a maker of outdoor cooking products, reported Monday that its third-quarter net loss attributable to the company was $7.49 million, compared to net income of $17.83 million.

Loss per share was $0.41.

Adjusted net loss was $19 million, compared to adjusted net income of $85 million in the prior-year quarter.

For the quarter, Weber generated net sales of $528 million, down 21 percent from $669 million last year.

On average, seven analysts polled by Thomson Reuters expected sales of $526.17 million for the quarter. Analysts’ estimates typically exclude special items.

The decrease was driven by slower retail traffic, both in-store and online in all key markets, due to rising inflation, supply chain constraints, geopolitical uncertainty and fuel prices,

The company said it has initiated a plan to manage cash flows, preserve liquidity, expand gross margins, and reduce SG&A expenses.

These actions are expected to result in at least $110 million of cash benefit, net of restructuring costs, in fiscal year 2023, with run-rate benefits beyond that.

In pre-market activity on the NYSE, Weber shares were gaining around 3.8 percent to trade at $7.18.

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Accelerate Diagnostics Q2 Net Loss Narrows

Vitro diagnostics company Accelerate Diagnostics, Inc. (AXDX) announced Monday that net loss for the second quarter narrowed to $17.80 million or $0.23 per share from $21.67 million or $0.36 per share in the prior-year quarter.

Net sales for the quarter increased 39 percent to $3.86 million from $2.80 million in the same quarter last year.

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HSBC increases interest rates on savings account – full list of changes

HSBC to close more than 50 branches across the UK – full list

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At a time where inflation is high and bills are on the rise, any extra cash could be vital for some families. Despite the base rate being below inflation, savers are encouraged to look around for the best deals to ensure they are getting the best they can.

HSBC has increased interest rates already this year in February, April, and July.

The new increases will come into affect from September 1.

The bank’s Online Bonus Saver will increase from 1.30 percent to 1.40 percent (under £10,000) for customers who don’t make a withdrawal from the account in the month.

Additionally, their Easy access savings rates will have increased from 0.20 percent to 0.40 percent for all customers.

Britons wanting a One Year Fixed Rate Saver rates can now get 1.25 percent, increased from 0.55 percent.

Lastly, Loyalty ISA increased from 0.50 increased to 0.80 percent for Premier customers.