ADC Therapeutics ( ADCT ) lost more than 50% in the premarket on Thursday as Wall Street reacted to topline data from a confirmatory Phase 3 trial for a combination regimen containing its FDA-approved lymphoma therapy Zynlonta. The antibody-drug conjugate is already available in the U.S. under the FDA's accelerated approval pathway as a late-line option for adults with relapsed or refractory large...
ADC Therapeutics ( ADCT ) lost more than 50% in the premarket on Thursday as Wall Street reacted to topline data from a confirmatory Phase 3 trial for a combination regimen containing its FDA-approved lymphoma therapy Zynlonta. The antibody-drug conjugate is already available in the U.S. under the FDA's accelerated approval pathway as a late-line option for adults with relapsed or refractory large B-cell lymphoma. Its continued availability in the U.S. depends on positive results from a confirmatory trial. Citing topline data, the Swiss biotech said that its Phase 3 LOTIS-5 trial reached the primary endpoint of progression-free survival with statistical significance in patients with r/r DLBCL who have previously undergone at least a single line of therapy. Those on Zynlonta, in combination with the lymphoma therapy rituximab, experienced a median PFS of 6.1 months, while those on standard immunochemotherapy in the control arm recorded a median PFS of 4.7 months. As for overall survival, a key secondary endpoint, the experimental therapy didn’t outperform the comparator with ADC ( ADCT ), indicating that in terms of OS, there was “no detrimental effect with Zynlonta plus rituximab compared to the control arm.” Regarding safety, the company said that while the rate of treatment-emergent adverse events was largely similar between the treatment arms (98.5% vs. 97.5%), the test arm was associated with a higher rate of serious adverse events (49.0% vs. 34.5%). ADC ( ADCT ) added that it intends to continue with its cost reduction initiatives and other value-enhancing measures as it prepares to submit a supplemental Biologics License Application filing with the FDA based on the totality of trial data. More on ADC Therapeutics ADC Therapeutics SA (ADCT) Discusses Phase III LOTIS-5 Trial Results and Next Steps in DLBCL Transcript ADC Therapeutics: 'Strong Buy' With 2 Shots On Goal For ZYNLONTA In R/R DLBCL ADC Therapeutics SA 2026 Q1 - Results - Earnings Call Presentation AD...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Brody Ford reports on Microsoft’s efforts to develop its own AI models. Tech Across the Globe Meta Platforms’ pitches AI: The social media company is selling businesses access to an artificial intelligence agent, trying to generate revenue to offset its huge investments i...
Welcome to Tech In Depth, our daily newsletter about the business of tech from Bloomberg’s journalists around the world. Today, Brody Ford reports on Microsoft’s efforts to develop its own AI models. Tech Across the Globe Meta Platforms’ pitches AI: The social media company is selling businesses access to an artificial intelligence agent, trying to generate revenue to offset its huge investments in the technology. The agent works on Meta’s various apps . Adobe’s CEO search: Two internal executives are being considered for the top post at the maker of Photoshop and other software for creative professionals. A search firm also has been hired to find outside candidates . DeepSeek’s fundraising: The Chinese AI company is close to completing a deal to raise about 50 billion yuan ($7.4 billion) from investors including Tencent and its own founder. It will be a milestone for the country’s domestic AI industry . Revalued AI music startup Suno has raised $400 million in a funding round that values the company at $5.4 billion — double its valuation from seven months ago. The startup lets users create music from scratch with text prompts. Three major music companies — Universal Music Group, Sony Music and Warner Music Group — sued Suno in 2024 over using their work to train AI models. The startup has settled with Warner and struck a deal to license its work. Budget busters In the crowded race to develop artificial intelligence models, Microsoft has settled on its pitch: price. “Anthropic is extremely expensive and I think many people are urgently looking for alternatives,” Mustafa Suleyman , who leads Microsoft’s efforts to train in-house models, said in an interview. To answer that need, Microsoft this week announced seven new AI models at its annual Build conference for developers, including one it says can match the coding abilities of a prior-generation Anthropic model that remains very popular — Opus 4.6 — at a reduced cost. That pitch may find warm reception at a time wh...
Thousands of electric vehicles in Waymo’s autonomous robotaxi fleet may eventually give up their used batteries for a very different purpose—contributing up to hundreds of megawatt-hours of stationary energy storage to local power grids. That prospect comes from a “strategic supply agreement” announced by Waymo and B2U Storage Solutions on June 4. B2U has been repurposing thousands of used batteri...
Thousands of electric vehicles in Waymo’s autonomous robotaxi fleet may eventually give up their used batteries for a very different purpose—contributing up to hundreds of megawatt-hours of stationary energy storage to local power grids. That prospect comes from a “strategic supply agreement” announced by Waymo and B2U Storage Solutions on June 4. B2U has been repurposing thousands of used batteries from various electric vehicles by installing them in large stationary energy storage projects. Such energy storage facilities can capture excess renewable energy during low demand periods and release such energy when local power grids are experiencing peak demand periods. “Our business is getting the full residual value out of electric vehicle batteries after they're no longer suitable for automotive use,” Freeman Hall , CEO of B2U Storage Solution, told Ars. “Waymo puts a lot of miles on EVs and their model is expanding rapidly, and so we're just very pleased and honored to be able to work with them.” Read full article Comments
The number to focus on is $190 billion, the new top end of Alphabet (NASDAQ:GOOGL)’s 2026 capital expenditure guidance. CFO Anat Ashkenazi walked the Street up to that figure on the Q1 2026 earnings call, telling investors the company was “updating our full year 2026 CapEx guidance range to $180 billion to $190 billion, up ... $190 Billion and Climbing: Google’s Stunning Equity Raise Signals an Ev...
The number to focus on is $190 billion, the new top end of Alphabet (NASDAQ:GOOGL)’s 2026 capital expenditure guidance. CFO Anat Ashkenazi walked the Street up to that figure on the Q1 2026 earnings call, telling investors the company was “updating our full year 2026 CapEx guidance range to $180 billion to $190 billion, up ... $190 Billion and Climbing: Google’s Stunning Equity Raise Signals an Even Bigger AI CapEx Surge
Ramp, a corporate spending management platform, has raised $750 million in a new funding round at a $44 billion valuation, a sign of investor enthusiasm for using artificial intelligence to help companies with their bookkeeping. Iconiq Capital, Singaporean sovereign wealth fund GIC and the Ontario Teachers’ Pension Plan co-led the financing, the startup is set to announce on Thursday. Goldman Sach...
Ramp, a corporate spending management platform, has raised $750 million in a new funding round at a $44 billion valuation, a sign of investor enthusiasm for using artificial intelligence to help companies with their bookkeeping. Iconiq Capital, Singaporean sovereign wealth fund GIC and the Ontario Teachers’ Pension Plan co-led the financing, the startup is set to announce on Thursday. Goldman Sachs Growth Equity, Morgan Stanley Investment Management and Peter Thiel’s Founders Fund also participated in the round. Ramp has raised $3 billion in funding to date. The New York-based company’s valuation, which includes the money raised, has nearly tripled across multiple rounds over the past year, reflecting significant growth in its business. Ramp’s annual revenue run rate is now more than $1.5 billion, according to a person familiar with the matter. That financial metric, a projection of full-year revenue based on a shorter period, was $1 billion in September. Founded in 2019, Ramp initially focused on helping startups simplify expense reporting. Now, it offers a wider mix of services for businesses, including payments processing and AI-powered fraud detection. Ramp’s closest competitor, Brex, sold to Capital One Financial Corp. earlier this year for $5.15 billion. Ramp intends to eventually go public rather than seek a buyer, according to co-founder and Chief Executive Officer Eric Glyman, who declined to provide a timeline for a potential listing. Roy Luo, a general partner at Iconiq, said the startup is big enough to be a public company whenever it chooses, stressing its fast growth. The firm currently works with 70,000 businesses, up from 50,000 at the beginning of the year. Much of that increase has come from young startups looking for help navigating unprecedented spending on AI models and managing their payments, Glyman said. “I don’t think we’ve ever particularly been slouches, but we’ve seen this incredible reacceleration of growth,” Glyman said. “As more work i...
Exclusive: Analysis shows resort has yet to recoup Disney’s investment despite record revenue and 16m annual visitors Disney has still not recouped $4.2bn of its investment in Disneyland Paris after more than 30 years, even though the resort is now its best-performing international outpost, according to an analysis of recent filings. The sprawling theme park complex swung open its ornate iron gate...
Exclusive: Analysis shows resort has yet to recoup Disney’s investment despite record revenue and 16m annual visitors Disney has still not recouped $4.2bn of its investment in Disneyland Paris after more than 30 years, even though the resort is now its best-performing international outpost, according to an analysis of recent filings. The sprawling theme park complex swung open its ornate iron gates in 1992 and now attracts about 16 million visitors every year. It is wholly owned by Disney and is home to two theme parks – the fairytale-inspired Disneyland and Disney Adventure World, which launched its largest-ever expansion in late March. The lavish land, themed to the hit animated movie Frozen , is part of a $2.5bn (€2bn) investment by Disney, and its new chief executive, Josh D’Amaro, was on hand for the opening alongside Emmanuel Macron. Continue reading...
After the dramatic termination of Scott Pelley, four of the show’s seven full-time correspondents are out under Bari Weiss’ leadership For many years now, CBS News employees entering the network’s New York headquarters have walked by a poster showing the seven correspondents who have helped keep 60 Minutes the most-watched show in news for 52 straight television seasons: Lesley Stahl, Scott Pelley...
After the dramatic termination of Scott Pelley, four of the show’s seven full-time correspondents are out under Bari Weiss’ leadership For many years now, CBS News employees entering the network’s New York headquarters have walked by a poster showing the seven correspondents who have helped keep 60 Minutes the most-watched show in news for 52 straight television seasons: Lesley Stahl, Scott Pelley, Bill Whitaker, Anderson Cooper, Sharyn Alfonsi, Jon Wertheim and Cecilia Vega. Over the last tumultuous week , three of those correspondents – Pelley, Alfonsi and Vega – have been fired. Cooper – who is also a CNN primetime anchor – announced in February that he is leaving the show. Amid the most significant uproar in the show’s lengthy history, CBS News staffers and 60 Minutes veterans now have two central questions: Who will be left to make the show’s 59th season, which begins in September? And will it still feel like 60 Minutes? Continue reading...
Opinions, the game loves them, and after Arsenal’s hugely divisive final, here’s my truth – feel free to yell back What the world needs now is one last hot take on Arsenal and the Champions League final before we are all brought together in beautiful symbiotic harmony by the World Cup. Key questions such as: was it a good game? Was this the perfect way to take on the best midfield and attack in wo...
Opinions, the game loves them, and after Arsenal’s hugely divisive final, here’s my truth – feel free to yell back What the world needs now is one last hot take on Arsenal and the Champions League final before we are all brought together in beautiful symbiotic harmony by the World Cup. Key questions such as: was it a good game? Was this the perfect way to take on the best midfield and attack in world football or the ultimate illustration of footballing cowardice? Why didn’t all the people in the UK want Arsenal to win? Why did some Arsenal fans find that annoying? Could it possibly be that people are different and want different things from football matches they consume in very different ways? Continue reading...
There’s a stew of factors at work behind the rise in consumer rage – but there are potential solutions, too People in the US: tell us about your difficult consumer experiences American consumers are angry. Nearly 80% of Americans had a service or product problem in 2025, and about two-thirds of those felt “rage” about it, according to the “National Consumer Rage” survey . Many consumers feel they ...
There’s a stew of factors at work behind the rise in consumer rage – but there are potential solutions, too People in the US: tell us about your difficult consumer experiences American consumers are angry. Nearly 80% of Americans had a service or product problem in 2025, and about two-thirds of those felt “rage” about it, according to the “National Consumer Rage” survey . Many consumers feel they are constantly fighting against an onslaught of overcharges, customer service hassles, shoddy products and billing mistakes that always seem to go in the company’s favor. All of this comes against a background of soaring prices and rising inflation. Continue reading...
Zion Thomas has amassed more than 800,000 followers on X by posting about his bets on memecoins — volatile crypto tokens whose value is driven by social media hype. And since last year, users on Polymarket have bet more than $50,000 on him, or at least on how influential they consider him to be, by investing in contracts based on his “mindshare,” a number that reflects his social media clout. Plat...
Zion Thomas has amassed more than 800,000 followers on X by posting about his bets on memecoins — volatile crypto tokens whose value is driven by social media hype. And since last year, users on Polymarket have bet more than $50,000 on him, or at least on how influential they consider him to be, by investing in contracts based on his “mindshare,” a number that reflects his social media clout. Platforming what are effectively for-profit popularity contests is one of several forays Polymarket has made into so-called attention markets. It also takes bets on Spotify stream rankings and the number of views a YouTube video will get. With these moves, the prediction market is letting users attach price tags to metrics that can easily be overwhelmed by bots. Mindshare contracts came about through a partnership the prediction market struck with the artificial intelligence company Kaito Pte Ltd. , which former Citadel Securities LLC strategist Yu Hu founded in 2022. Kaito began tracking mindshare on X the following year, and the concept really took off when the company introduced a public leaderboard ranking crypto influencers in 2024. Its ranking system was a trade secret, but on its first day, Thomas’ X account was awarded more mindshare than those of Ethereum creator Vitalik Buterin or Y Combinator co-founder Paul Graham . That earned him what the company called “ Yap points ” — the name draws on TikTok slang for talkative users — and a vague promise that he might gain early access to Kaito’s crypto token. Kaito wasn’t directly paying people to post frequently, but it seemed to be dangling that possibility. The crypto leaderboard gave X users a gamified way to jockey for attention and helped advertisers assess the influence and reach of popular accounts. “Information finance” imitators sprung up on other blockchains, and crypto news sources cited movement on Kaito’s leaderboard as indicators of industry sentiment. “There was an appetite for the idea that social posts could...
If everyone is spending like there won’t be a tomorrow, there probably won’t be a tomorrow Doom is the prefix du jour. Doomscrolling, doomposting, doomsplaining, doomspreading. Doom joins other recent suffixes -maxxing, -pilled, and -slop – giving discussions about contemporary life an overtly negative cast. Doomspending, in particular, is a new term for spending frivolously with no concern for fu...
If everyone is spending like there won’t be a tomorrow, there probably won’t be a tomorrow Doom is the prefix du jour. Doomscrolling, doomposting, doomsplaining, doomspreading. Doom joins other recent suffixes -maxxing, -pilled, and -slop – giving discussions about contemporary life an overtly negative cast. Doomspending, in particular, is a new term for spending frivolously with no concern for future financial consequences. It has become synonymous with the declining fortunes of young westerners. A survey by Credit Karma, a consumer fintech company, published in the fall of 2024, introduced the concept and the general parameters around it. Chronically online youth had begun coping with anxiety about the economy and world events with retail therapy. They claim 27% of Americans doomspend to deal with stress. The numbers rise to 37% of gen Z and 39% of millennials. Continue reading...
Drink brands such as Yahweh and Praise Energy say they’re raising awareness for Christianity – but are they just treating Jesus like an uncopyrighted Mickey Mouse? By now, you’ve probably noticed the trend: every celebrity and influencer appears to be chasing the same prize. We’re deep in the era of the celebrity beverage. Kim Kardashian has Update energy drinks. John and Hank Green have the Aweso...
Drink brands such as Yahweh and Praise Energy say they’re raising awareness for Christianity – but are they just treating Jesus like an uncopyrighted Mickey Mouse? By now, you’ve probably noticed the trend: every celebrity and influencer appears to be chasing the same prize. We’re deep in the era of the celebrity beverage. Kim Kardashian has Update energy drinks. John and Hank Green have the Awesome Coffee Club. Blake Lively sells sparkling grapefruit juice. Even Danny DeVito, somehow perfectly cast for the role, is the face of a limoncello. Continue reading...
Signage for the FIFA World Cup at The Shops at Columbus Circle in New York, May 21, 2026. Michael Nagle | Bloomberg | Getty Images As athletes and millions of fans gear up for the FIFA World Cup starting next week, global health officials are preparing for a high-stakes challenge of their own: protecting against infectious diseases. For the first time, the tournament will span 16 host cities acros...
Signage for the FIFA World Cup at The Shops at Columbus Circle in New York, May 21, 2026. Michael Nagle | Bloomberg | Getty Images As athletes and millions of fans gear up for the FIFA World Cup starting next week, global health officials are preparing for a high-stakes challenge of their own: protecting against infectious diseases. For the first time, the tournament will span 16 host cities across three countries — the United States, Canada and Mexico — and feature 48 teams, making it the largest World Cup in history. The event also comes amid an Ebola outbreak in Congo and Uganda that the World Health Organization has designated a "public health emergency of international concern." Despite those worries, the risk of widespread Ebola transmission during the tournament is low, infectious disease experts told CNBC. Public health departments, hospitals and other partners are also well equipped to respond to a range of potential threats — even after sweeping cuts to critical federal agencies and the U.S. exiting from the WHO under the Trump administration. "Ebola and hantavirus, I worry about a lot less," Dr. Shruti Gohil, the associate medical director for University of California, Irvine Health Epidemiology and Infection Prevention, said in an interview. "The overall likelihood of risk is not nonzero, but it's low, very low, because it is not easy to transmit person to person." Instead, experts say more contagious threats could pose greater challenges during the tournament and other large events this summer, particularly because international visitors could move through multiple venues and cities in a matter of days. Those threats include measles — one of the world's most contagious diseases — as well as respiratory viruses such as Covid-19 and influenza. The concern comes after the U.S. recorded its highest number of measles cases in decades last year, driven in part by growing vaccine hesitancy and declining immunization rates. Some experts also pointed to arboviru...
Brand-new Federal Reserve Chair Kevin Warsh was nominated by President Donald Trump. Trump's stated reasoning for nominating Warsh was the hope that Warsh would start cutting the target value of the federal funds rate, which would lead to lower borrowing rates and stimulate the economy in time for the November 2026 congressional elections. During the run-up to his nomination and subsequent Senate ...
Brand-new Federal Reserve Chair Kevin Warsh was nominated by President Donald Trump. Trump's stated reasoning for nominating Warsh was the hope that Warsh would start cutting the target value of the federal funds rate, which would lead to lower borrowing rates and stimulate the economy in time for the November 2026 congressional elections. During the run-up to his nomination and subsequent Senate confirmation, Warsh repeatedly argued that a productivity boom driven by artificial intelligence(AI) would allow the U.S. economy to produce more output without inflation, thus paving the way for the Fed to cut rates. Image source: Official White House Photo by Daniel Torok. Continue reading