Shares of weight loss drug maker Zealand Pharma plummeted as much as 26% on Monday after new data on its experimental medicine raised concerns over its potential side effects. The Danish drugmaker said that while its drug survodutide met its key targets in a late-stage study , 19% of patients dropped out of the study due to gastrointestinal events, compared to 2.9% on placebo. "Safety/tolerability...
Shares of weight loss drug maker Zealand Pharma plummeted as much as 26% on Monday after new data on its experimental medicine raised concerns over its potential side effects. The Danish drugmaker said that while its drug survodutide met its key targets in a late-stage study , 19% of patients dropped out of the study due to gastrointestinal events, compared to 2.9% on placebo. "Safety/tolerability remains the key issue," said Barclays analysts in a note on Monday. The high discontinuation rate, with more than 40% of patients reporting vomiting, might limit the drug's commercial potential as a treatment for obesity or those suffering from fatty liver disease, the analysts added. Shares of Zealand Pharma were last seen down 24%, adding to nearly 50% drop year-to-date. Zealand's stock plummets after disappointing drug result. Its CEO tells CNBC people need to focus less on the 'weight loss Olympics' The full survodutide data comes about three months after Zealand stock suffered its worst day on record when a trial of another of its experimental anti-obesity drugs disappointed investors with lower-than-expected weight loss statistics. Analysts at Citi wrote in a note on Monday: "A 19% treatment discontinuation rate due to... adverse events... is not a rounding error, and nausea, vomiting, diarrhea, and constipation incidence at the levels reported here sit well above what we consider commercially viable against [rival drugs] tirzepatide and semaglutide." Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Bloomberg's Guy Johnson reports live from Rio de Janeiro on the key concerns for airline executives gathered at the International Air Transport Association's annual general meeting. (Source: Bloomberg)
Bloomberg's Guy Johnson reports live from Rio de Janeiro on the key concerns for airline executives gathered at the International Air Transport Association's annual general meeting. (Source: Bloomberg)
STORY: Jensen Huang's visit to South Korea paid off with a series of deals announced on Monday. The Nvidia CEO said agreements were reached with South Korean giants like SK Hynix and Naver. “We're seeing great demand. The business is booming around the world for more AI factories. And so that's the reason why we're entering this partnership.:" Huang's high-profile trip to the country began on Frid...
STORY: Jensen Huang's visit to South Korea paid off with a series of deals announced on Monday. The Nvidia CEO said agreements were reached with South Korean giants like SK Hynix and Naver. “We're seeing great demand. The business is booming around the world for more AI factories. And so that's the reason why we're entering this partnership.:" Huang's high-profile trip to the country began on Friday. It's seen him throw a baseball pitch, dine with top corporate leaders and meet a well-known gamer. It comes with the U.S. firm aiming to secure crucial memory chips to power its AI ambitions and draw new customers. SK Group said its SK Hynix and SK Telecom arms had agreed deals with Nvidia. Memory chip maker SK Hynix signed a multi-year technology partnership. It said this commits it to developing advanced types of memory for global AI data centres. SK Hynix and Nvidia said the deal would help supply keep pace with Nvidia's plans - which now include robotics, personal computers and AI supercomputers. “SK Hynix will continue to be Nvidia's largest memory partner. And this is a partnership and a friendship that has gone back a long time. I'm very proud of the contribution Nvidia has made to SK Hynix. Huang said the agreement was for more than two years with the option to keep extending. Nvidia said internet giant Naver and Doosan would also use its tech to help build AI data centres. Huang also said Nvidia is partnering with LG Group on electronics, mechanical systems and AI for humanoid robots. And he revealed Nvidia would deepen its partnership with Hyundai motor group across a range of AI initiatives. Huang also planned to meet Samsung's semiconductor business head later on Monday. Nvidia and its partners, including SK Telecom and Doosan Group, didn't reveal the value of the deals.
Dilok Klaisataporn/iStock via Getty Images Where’s the global economic meltdown? We’re 3 months into a war with Iran, the Strait of Hormuz closed. 20% of global LNG is shut down for the next 3 years, 20% of global crude oil production is being affected, 30% of global fertilizer supply is shut off, and roughly a third of global helium supply is bottled up in the gulf. Asia and Europe (to a lesser d...
Dilok Klaisataporn/iStock via Getty Images Where’s the global economic meltdown? We’re 3 months into a war with Iran, the Strait of Hormuz closed. 20% of global LNG is shut down for the next 3 years, 20% of global crude oil production is being affected, 30% of global fertilizer supply is shut off, and roughly a third of global helium supply is bottled up in the gulf. Asia and Europe (to a lesser degree) take the brunt of the damage, but the US isn’t immune from these supply chain disruptions. And yet... the global economy seems to be coping just fine, at least so far. The US economy in particular seems to have been almost unaffected except for the price of gas, although one can’t run the counterfactual. Is there a tipping point where the closure of the strait causes greater problems? There are a lot of people making that claim, but I’d be careful assuming anything. Markets find a way, and the global economy is already adapting to a world where the strait stays closed. When I review the US economy today, what I find is not a booming economy as Republicans claim or one that is obviously failing as Democrats seem to believe, but one that is so average it fades into the background. The US economy is growing at a trend. It is growing at the long-term average. It isn’t great, it isn’t terrible. There are problems in the details, but most things are just fine in aggregate. Inflation is higher than younger generations are accustomed to but feels pretty normal to old dudes like me. Real growth – despite all the hype around bitcoin and AI and the shale “revolution” and Web3 and blockchain and the “app” economy and the gig economy and 3D printing and the metaverse (I can’t believe people fell for the VR hype again) – is trending at the same 2 to 2.5% annual rate that has prevailed since 2010. And 2000. And 1990. And 1980. Yes, a few detours along the way, like the crash of ’87, the S&L crisis, the dot com boom and bust, the financial crisis of 2008, the Euro crisis in the earl...
(RTTNews) - German stocks tumbled on Monday amid lingering worries about geopolitical tensions, and concerns over possible rate hikes by the Federal Reserve following upbeat U.S. jobs data.
(RTTNews) - German stocks tumbled on Monday amid lingering worries about geopolitical tensions, and concerns over possible rate hikes by the Federal Reserve following upbeat U.S. jobs data.
Denmark’s medic reveals 34-year-old is in ‘good spirits’ Eriksen in hospital after losing consciousness on pitch Christian Eriksen is expected to be “discharged soon” from hospital after he appeared to collapse during Denmark’s friendly with Ukraine on Sunday. Television images showed Eriksen holding his chest in the 65th minute of the fixture at Odense Stadium, with the match quickly halted and a...
Denmark’s medic reveals 34-year-old is in ‘good spirits’ Eriksen in hospital after losing consciousness on pitch Christian Eriksen is expected to be “discharged soon” from hospital after he appeared to collapse during Denmark’s friendly with Ukraine on Sunday. Television images showed Eriksen holding his chest in the 65th minute of the fixture at Odense Stadium, with the match quickly halted and abandoned shortly afterwards amid concern for the former Tottenham and Manchester United playmaker. Continue reading...