Moderna Stock Jumps 10% Merck Inks Deal To Jointly Develop Personalized Cancer Vaccine

Mirati, Aadi To Evaluate Adagrasib, Nab-sirolimus Combination To Treat NSCLC, Other Solid Tumors

Oncology company Mirati Therapeutics, Inc. (MRTX) and biopharmaceutical company Aadi Bioscience, Inc. (AADI) announced Wednesday a clinical collaboration to evaluate the combination of adagrasib, a KRASG12C selective inhibitor, and nab-sirolimus, a small molecule mTOR inhibitor complexed with human albumin in KRAS G12C mutant non-small cell lung cancer (NSCLC) and other solid tumors.

The primary objective of this multi-center, single-arm, open-label Phase 1/2 trial is to determine the optimal dose and recommended Phase 2 dose for the combination of adagrasib and nab-sirolimus in patients with KRASG12C – mutant solid tumors.

In addition, the study will investigate the safety, tolerability and efficacy of adagrasib and nab-sirolimus in combination in patients both with and without prior exposure to a KRASG12C inhibitor.

The trial will build on preclinical data showing enhanced anti-tumor efficacy with the combination of adagrasib and nab-sirolimus relative to either agent alone.

Under the terms of the collaboration agreement, Mirati will be responsible for sponsoring and operating the Phase 1/2 study, and jointly with Aadi, will oversee and share the cost of the study.

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Meta Materials Rises 22%

Shares of electronics components manufacturer Meta Materials Inc. (MMTLP) are climbing 22 percent on Wednesday’s trading continuing their upward movement since the past few days. The stock movement is in line with the U.S stock markets, which are in the green early Wednesday morning.

There has not been any company-specific news to impact the stock on Wednesday.

Currently at $5.25, the stock has traded between $0.85 and $5.40 during the past 52 weeks.

BASF Preliminary Q3 EBIT Before Special Items Declines; Outlook Unchanged

BASF Group (BFA.L,BASFY.PK) reported preliminary third-quarter EBIT before special items of 1.35 billion euros, compared to 1.86 billion euros, a year ago. The Group noted that the result is slightly above the analyst consensus for the third quarter.

Net income is expected to amount to 909 million euros, compared to 1.25 billion euros, prior year. The company noted that its third quarter net income contains non-cash-effective impairments on the shareholding in Wintershall Dea in the amount of about 740 million euros.

Sales increased by 12 percent to 21.95 billion euros. The company said this was mainly driven by higher prices. Volumes declined from previous year.

The company’s outlook for fiscal 2022 remains unchanged. EBIT before special items continues to be expected between 6.8 billion euros and 7.2 billion euros.

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PepsiCo Rises 4% After Lifting FY22 View

Shares of snacks and beverage giant PepsiCo, Inc. (PEP) are rising 4 percent on Wednesday’s trading after the company lifted its fiscal 2022 earnings and organic revenue forecast above market estimates. In addition, for the third quarter, both earnings and top line beat Wall Street view.

Looking ahead for fiscal 2022, the company now expects to deliver 12 percent organic revenue growth, higher than previously expected 10 percent growth. The company now projects 10 percent core constant currency earnings per share growth, up from earlier expected 8 percent.

In the third quarter, net income attributable to Pepsi grew to $2.70 billion from last year’s $2.22 billion.

Earnings per share were $1.95, up 22 percent from last year’s $1.60. Analysts expected earnings of $1.84 per share for the quarter.

Currently at $169.10, the stock has traded between $153.37 and $181.07 during the past 52 weeks.

CDOT: I-70 reopens between Glenwood Springs to Dotsero after vehicle fire causes closure

Interstate 70 from Glenwood Springs to Dotsero has reopened one lane in both directions after a vehicle fire closed the interstate for several hours, the Colorado Department of Transportation says.

The closure was first reported about 6 a.m.

The Garfield County Sheriff’s Office reported the crash involved a tractor-trailer and closed both directions of the interstate.

Elon Musk Launches ‘Burnt Hair’ Perfume

Elon Musk, CEO of luxury electric car maker Tesla, is promoting “Burnt Hair perfume,” a product launched by his tunnel construction firm The Boring Co. in a couple of tweets on Wednesday. This has also seen Musk changing his Twitter bio to “Perfume Salesman” in his bid to boost the sales of the $100 perfume bottle.

Musk tweeted that “Over 5000 bottles of Burnt Hair sold!” and about four hours later tweeted “10,000 bottles of Burnt Hair sold” that translates to about $1 million worth of the new perfume sold on twitter in pre-orders. The product will be available in the first quarter of 2023.

Being a long-time advocate of cryptocurrency DogeCoin (DOGE) and preferring it over Bitcoin, Musk has tweeted, “And you can pay with Doge!” He also claimed the product to be “The finest fragrance on Earth!” while the website describes Burnt Hair as “The Essence of Repugnant Desire.”

The value of Dogecoin has increased and plunged based on Musk’s promotion in recent times.

Moderna Stock Jumps 10% Merck Inks Deal To Jointly Develop Personalized Cancer Vaccine

Shares of Moderna, Inc. (MRNA) are gaining over 10% on Wednesday morning after inking a deal with Merck to co-develop personalized cancer vaccine treatment.

MRNA is currently trading at $133.68, up $12.96 or 10.74%, on the Nasdaq, on a volume of 8 million shares, above average volume of 4.5 million. The stock opened its trading at $135.55 after closing Tuesday’s trading at $120.72. The stock has traded between $115.03 and $376.65 in the 52-week period.

Moderna announced that Merck has exercised its option to jointly develop and commercialize personalized cancer vaccine (PCV) mRNA-4157/V940 pursuant to the terms of its existing collaboration and License Agreement.

mRNA-4157/V940 is currently being evaluated in combination with KEYTRUDA, Merck’s anti-PD-1 therapy, as adjuvant treatment for patients with high-risk melanoma in a Phase 2 clinical trial being conducted by Moderna.

“We have been collaborating with Merck on PCVs since 2016, and together we have made significant progress in advancing mRNA-4157 as an investigational personalized cancer treatment used in combination with KEYTRUDA,” said Stephen Hoge, M.D., President of Moderna. “With data expected this quarter on PCV, we continue to be excited about the future and the impact mRNA can have as a new treatment paradigm in the management of cancer. Continuing our strategic alliance with Merck is an important milestone as we continue to grow our mRNA platform with promising clinical programs in multiple therapeutic areas.”