Mr Vito/E+ via Getty Images Following ArriVent BioPharma's ( AVBP ) Fiscal Year 2025 results and its latest update, we are back to comment on the company. The investment case is supported by the clinical milestones of Firmonertinib. Here at the Lab, in our initiation of coverage report, we noted that the opportunity still carries a binary element. ArriVent represents a somewhat unique case in the ...
Mr Vito/E+ via Getty Images Following ArriVent BioPharma's ( AVBP ) Fiscal Year 2025 results and its latest update, we are back to comment on the company. The investment case is supported by the clinical milestones of Firmonertinib. Here at the Lab, in our initiation of coverage report, we noted that the opportunity still carries a binary element. ArriVent represents a somewhat unique case in the biotech space. Indeed, the company is developing the same licensed asset that Shanghai Allist has already commercialized; however, the product has not yet received approval in the United States. At this stage, we still believe the downside risk is more limited than before, and the valuation appears skewed to the upside. Since the end of December 2025, ArriVent BioPharma's share price has been flat (Fig. 1). For our new readers, we report that ArriVent "is a clinical-stage oncology company building a pipeline around targeted therapies for niche mutation-defined cancers, with a heavy near-term focus on Firmonertinib and early optionality from ADC programs." Author Rating Status Fig. 1 ArriVent BioPharma and Our Upside Case Again, the company is still in the pre-sales stage, so our reporting will be brief. The company has cash & equivalents of $312.8 million, with a cash runway to Q3 2027. Compared to 2024, R&D expenses doubled to $153.4 million from $79.0 million. This also includes a one-time payment to Lepu Biopharma. ArriVent also increases its yearly G&A expenses to $24.2 million from $15.3 million. For the above reason, the company reported a net loss of $166.3 million in 2025. Why are we still positive? Before updating our readers on ArriVent clinical catalysts, we are pleased to report that the company beat EPS by $0.05; a few Wall Street analysts recently increased their target prices ( Riley , Oppenheimer , and HC Wainwright ); and BTIG assumed coverage with a buy rating. Additionally, compared to our previous coverage, the company extended its cash runway from mid-2...
Abel Ortiz was brought from Mexico to LA when he was just two months old and has been living undocumented ever since. Now 38, he has a full life cutting hair, building a community, loving a city that has never fully loved him back. In a time of escalating ICE raids and the ache of uncertainty, Abel has made a radical decision: he’s leaving – not because he has to, but to escape perpetual lim...
Abel Ortiz was brought from Mexico to LA when he was just two months old and has been living undocumented ever since. Now 38, he has a full life cutting hair, building a community, loving a city that has never fully loved him back. In a time of escalating ICE raids and the ache of uncertainty, Abel has made a radical decision: he’s leaving – not because he has to, but to escape perpetual limbo and be free to see the world Continue reading...
Turkey’s central bank is preparing an expanded toolkit to defend the lira from Iran war-related volatility that includes potentially tapping its vast gold reserves , according to people familiar with the matter. The bank has held discussions about conducting gold-for-foreign currency swap transactions in the London market, the people said, asking not to be named because the deliberations are priva...
Turkey’s central bank is preparing an expanded toolkit to defend the lira from Iran war-related volatility that includes potentially tapping its vast gold reserves , according to people familiar with the matter. The bank has held discussions about conducting gold-for-foreign currency swap transactions in the London market, the people said, asking not to be named because the deliberations are private. The central bank declined to comment. Turkey has been one of the world’s most aggressive gold buyers over the past decade as the country’s leadership sought to trim exposure to US dollar-denominated assets. The monetary authority had gold reserves equivalent to about $135 billion as of early March, according to data compiled by Bloomberg. Turkey is estimated to hold about $30 billion of those reserves at the Bank of England, which Turkey’s central bank “may decide to use for FX intervention purposes without logistical constraints,” according to a report by JPMorgan Chase & Co. economist Fatih Akcelik on Tuesday. Turkey is especially vulnerable to inflation shocks and balance-of-payment concerns should the war in Iran prolong because it needs to import almost all of its oil and gas. Officials are already struggling to rein in an inflation rate that last registered at 31.5% in February, one of the highest in the world. The central bank’s disinflation strategy has relied primarily on maintaining so-called “real” lira appreciation — meaning the currency isn’t allowed to depreciate at a rate faster than monthly inflation. Heavy reserve drawdowns and rising import costs in the weeks since the war began have made that stable-lira policy much more costly to sustain. Crisis Response Turkish policymakers have so far responded to the crisis in the Middle East — which has sent oil prices soaring to above $100 a barrel from around $70 — by tightening liquidity, making lira funding costlier, and having state-run lenders intervene in the currency market. The central bank has meanwhile...
XRP institutional adoption hinges on companies actually using the network to solve business problems, with Franklin Templeton’s Roger Bayston predicting the tipping point comes when businesses integrate blockchain into operations. The Usage Thesis Bayston drew a parallel to Warren Buffett...
XRP institutional adoption hinges on companies actually using the network to solve business problems, with Franklin Templeton’s Roger Bayston predicting the tipping point comes when businesses integrate blockchain into operations. The Usage Thesis Bayston drew a parallel to Warren Buffett...
Let's start with the basics. What, exactly, is an orbital data center? On the ground, data centers are typically large, warehouse-sized facilities filled with racks of storage and servers, and usually some high-speed networking gear to connect everything. A data center can be small or large, but the ones SpaceX is looking to supplant are of the big kind—the ones operated by major industry players ...
Let's start with the basics. What, exactly, is an orbital data center? On the ground, data centers are typically large, warehouse-sized facilities filled with racks of storage and servers, and usually some high-speed networking gear to connect everything. A data center can be small or large, but the ones SpaceX is looking to supplant are of the big kind—the ones operated by major industry players like Amazon Web Services and Google, which provide most of the online services you use today. These are sprawling buildings, or even campuses of buildings, with redundant connections to the electrical grid, on-site generators, massive banks of batteries, and enormous cooling systems to handle the heat being shed by thousands upon thousands of machines operating around the clock. An orbital data center replicates all of that, but in space. Read full article Comments