最新ニュース EXoZymes (NASDAQ:EXOZ) 株価情報

eXoZymes Inc. - Common Stock

EXoZymes Inc is focused on using a biomanufacturing platform to create valuable biochemicals, including Active Pharmaceutical Ingredients or APIs, biofuels, food flavors, and cosmetics, offering a sustainable alternative to traditional chemical production methods.

EXoZymes Inc

The Company intends to use the net proceeds of any sales of Common Shares under the ATM Program for the production of all-electric vehicles, including BEAST school buses and EV Star commercial vehicles, as well as for product development, with the remainder, if any, for general corporate purposes.
 &nbsp;

News

Reported Friday, GreenPower Enters Sales Agreement With Roth Capital For $850K ATM Offering To Fund BEAST And EV Star EV Production

At week 24, 42.3% of patients in the higher dose group achieved ≥75% reduction from baseline in Eczema Area and Severity Index score (EASI-75), a 29.5% difference vs. placebo (p &lt; 0.001). In the lower dose group, 36.3% of patients achieved EASI-75, a 23.4% difference vs. placebo (p &lt; 0.001).
In the higher dose group, 23.6% of patients achieved a validated Investigator's Global Assessment for Atopic Dermatitis (vIGA-ADTM) score of 0 (clear) or 1 (almost clear) with a ≥2-point reduction from baseline (vIGA-AD 0/1) at week 24, representing a 14.9% difference vs. placebo (p &lt; 0.001). In the lower dose group, 19.1% of patients achieved this endpoint, a 10.3% difference vs. placebo (p = 0.002).
In addition, IGNITE met the endpoint of revised Investigator's Global Assessment (rIGATM) score of 0/1 with a ≥2-point reduction from baseline, a more stringent measure of efficacy than vIGA-AD 0/1. At week 24, 22.7% of patients in the higher dose group achieved this endpoint, a 14.4% difference vs. placebo (p &lt; 0.001). In the lower dose group, 16.3% of patients achieved this endpoint, an 8.0% difference vs. placebo (p = 0.01).

AMGN

Reported Saturday, Amgen And Kyowa Kirin's Rocatinlimab Delivers Up To 42.3% EASI-75 Response At Week 24 In Phase 3 IGNITE Trial

The Company reported an operating loss of $2.1 million ($0.08 per share) versus a $3.4 million loss in the same quarter of 2023 ($0.18 per share).
The operating loss for the full year 2024 was $8.8 million ($0.35 per share) versus $18.5 million ($1.01 per share) in 2023.
CEO Thomas DeRosa noted that AppTech underwent significant organizational changes in the fourth quarter when a new investor group committed $5 million to improve the Company's operations; established voting control of the Board of Directors and replaced certain key executives including the CEO and CFO. New CFO Felipe Corrado stated "We are encouraged by the organizational and operating improvements made in the fourth quarter. We bolstered our capital position, reduced expenses and narrowed our focus solely to several potentially near-term and profitable customers."

APCX

Reported Friday, Apptech Posted Q4 Loss Of $0.08 Per Share, Up From Loss Of $0.18 Per Share YoY, Signaling Continued Progress On Cost Efficiency And Capital Reinforcement

The Trump administration is reportedly in discussions with four different groups regarding&nbsp;the sale of the Chinese short video platform, TikTok.
What Happened: On Sunday, U.S. President Donald Trump confirmed that his administration was communicating with four different groups regarding the sale of TikTok, reported Reuters. TikTok&#8217;s future has been uncertain since a Biden-administration law, that requires its owner, ByteDance, to either sell the platform on national security grounds by Apr 5 or risk a ban, came into effect on Jan 19.
President Trump, after assuming office on Jan. 20, signed an executive order aiming to postpone the law&#8217;s enforcement by 75 days. When asked if a deal on TikTok was imminent, Trump told reporters while on board Air Force One, &#8220;It could.&#8221; 
&#8220;We&#8217;re dealing with four different groups, and a lot of people want it &#8230; all four are good,&#8221; he added.
Although ByteDance has not expressed any interest in selling TikTok's U.S. operations, CEO Chew Shou Zi met with Trump at Mar-a-Lago in December and was also present at his inauguration ceremony.
SEE ALSO: <a href="https://www.benzinga.com/trading-ideas/movers/25/03/44212362/bitcoin-ethereum-and-dogecoin-crash-as-trump-refuses-to-rule-out-recession-arthur-hayes-predicts-btc-to-retest-78000">Bitcoin, Ethereum And Dogecoin Crash As Trump Refuses To Rule Out Recession: Arthur Hayes Predicts BTC To Retest $78,000</a>
Why It Matters: The potential sale of TikTok comes amid growing tensions between the U.S. and China over data security. The uncertainty at TikTok has also attracted several potential buyers, including Frank McCourt, former owner of the Los Angeles Dodgers. McCourt&#8217;s bid for TikTok&#8217;s U.S. operations has been bolstered by the addition of Reddit Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RDDT#NYSE">RDDT</a>) co-founder and venture capitalist Alexis Ohanian as a strategic adviser for Project Liberty, <a href="https://www.benzinga.com/general/social-media/25/03/44100560/reddit-co-founder-alexis-ohanian-joins-frank-mccourts-tiktok-bid-amid-competition-from-mrbeast-jesse-tinsley-and-reid-rasner">known as &#8220;The People&#8217;s Bid&#8221;</a>.  
YouTube&nbsp;star&nbsp;MrBeast and tech entrepreneur Jesse Tinsley are some of the other bidders. Notably, Trump has also suggested the name of Larry Ellison, the founder of Oracle Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ORCL#NYSE">ORCL</a>). Analysts estimate the fast-growing business&nbsp;could be worth as much&nbsp;as $50 billion.
Interestingly, Elon Musk, the owner of the X social network, has stated that he is not interested.
Trump&#8217;s comments come on the heels of TikTok <a href="https://www.benzinga.com/markets/emerging-markets/25/02/44040537/tiktok-invests-8-8-billion-in-thailand-data-centers-bypassing-us-china-tech-tensions">committing $8.8 billion </a>in data centers in Thailand over five years, bypassing US-China tech tensions.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/25/03/44213521/us-economic-slowdown-talk-of-the-town-says-economist-mohamed-el-erian-as-fed-chair-powell-reaffirms-growth-at-solid-pace">US Economic Slowdown &#8216;Talk Of The Town,&#8217; Says Economist Mohamed El-Erian As Fed Chair Powell Reaffirms Growth At &#8216;Solid Pace&#8217;</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Markets

Tech

ORCL

RDDT

US Courts New Buyers For TikTok As Deal Deadline Approaches: 'All Four Are Good,' Says Trump

Logility previously announced on January 24, 2025 that it had entered into a definitive agreement to be acquired by Aptean, Inc. ("Aptean") for $14.30 per share in an all-cash transaction (the "Aptean Merger Agreement"). The Logility Board of Directors has determined that the Unsolicited Proposal would reasonably be expected to lead to a superior proposal under the terms of the Aptean Merger Agreement. As a result of the Logility Board of Directors' determination, Logility may, under the terms of the Aptean Merger Agreement, engage in discussions with the unsolicited bidder based on the Unsolicited Proposal and Logility intends to do so.
The Aptean Merger Agreement remains in full force and effect, and the Logility Board of Directors reaffirms its existing recommendation that Logility's shareholders vote in favor of the transaction with Aptean.

LGTY

Reported Friday, Logility Confirms $15.00 Unsolicited Offer Under Review; Board Says Proposal May Be Superior To Aptean Agreement

<ul>
<li>Projects aim to be responsive to the energy needs of data centers by offering an abundant supply of operational power within two years</li>
<li>Projects target the provision of on-site, continuous, and scalable power generation, and securing data center uptime even in volatile market conditions</li>
<li>The partnership would involve innovative capital structuring coupled with environmental credit cash flow generation from the fuel cell platforms and coal mine methane (CMM)</li>
<li>Clean fuel cell technology can reduce the carbon footprint of data center and other high-volume electrical off-takers</li>
<li>Projects aspire to create jobs and other economic benefits focused on the Appalachian region</li>
</ul>

FCEL

Diversified, FuelCell Energy And TESIAC Form Acquisition And Development Company T Deliver Net-Zero Power For Data Centers

CONSOLIDATED NET REVENUES (UNAUDITED)
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">44,961</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">49,444</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">39,751</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-9.1&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+13.1&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,374</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,506</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">1,269</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-8.8&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+8.3&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>
Net revenues for ATM assembly, testing and material business are as follows:
ATM NET REVENUES (UNAUDITED)
<figure class="table"> 
<table>
<tbody>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(NT$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">27,332</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">28,137</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">23,291</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-2.9&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+17.3&nbsp;%</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
</tr>
<tr>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Jan</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Feb</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Sequential</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">YoY</td>
</tr>
<tr>
<td colspan="1" rowspan="1">(US$ Million)</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2025</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">2024</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">Change</td>
</tr>
<tr>
<td colspan="1" rowspan="1">Net Revenues</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">835</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">857</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">744</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">-2.5&nbsp;%</td>
<td colspan="1" rowspan="1"> &nbsp;</td>
<td colspan="1" rowspan="1">+12.3&nbsp;%</td>
</tr>
</tbody>
</table>
</figure>

ASE Technology Reported February 2025 Revenue Of $1.37B, Up 8.3% YoY; ATM Revenue Of $835M, Up 12.3% YoY

Billionaire investor Chamath Palihapitiya believes a proposed 10% cap on credit card interest rates would significantly disrupt the financial services industry while potentially benefiting consumers.
What Happened: &#8220;This would be phenomenally disruptive,&#8221; Palihapitiya wrote Sunday on X. &#8220;Would force everyone who can embrace ultra low cost rails to emerge. Incumbents would be in trouble for sure.&#8221;
Palihapitiya was responding to news that Congresswoman Anna Luna (R-FL) is working with Rep. Alexandria Cortez (D-NY) on legislation to cap credit card interest rates at 10%.
His comments come as President Donald Trump and Sen. Bernie Sanders (I-VT) have independently supported similar proposals. Sanders announced plans to introduce legislation <a href="https://www.benzinga.com/markets/equities/24/12/42737402/bernie-sanders-supports-trumps-credit-card-interest-rate-cap-at-10-amid-highest-defaults-since-2008-visa-and-mastercard-trade-in-the-red">backing Trump&#8217;s 10% cap idea</a>.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">This would be phenomenally disruptive. <a href="https://t.co/3mb8fZfyh3">https://t.co/3mb8fZfyh3</a>
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1898778255332905401?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">I think opposite. Would force everyone who can embrace ultra low cost rails to emerge. Incumbents would be in trouble for sure.
&mdash; Chamath Palihapitiya (@chamath) <a href="https://twitter.com/chamath/status/1898790966091489749?ref_src=twsrc%5Etfw">March 9, 2025</a></blockquote>
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The initiative gains significance as credit card defaults reach their highest levels since the 2008 financial crisis. U.S. credit card lenders wrote off $46 billion in seriously delinquent loan balances during the first nine months of 2024, a 50% increase year-over-year, <a href="https://www.benzinga.com/24/12/42721109/mark-cuban-once-said-credit-card-users-dont-want-to-be-rich-now-us-credit-card-defaults-have-skyrocketed-to-highest-levels-since-2008-financial-crisis">according to BankRegData</a>.
See Also:&nbsp;<a href="https://www.benzinga.com/markets/equities/25/03/44212386/stock-futures-drop-as-reverse-trump-trade-takes-holdpeter-schiff-says-market-shift-long-overdue-and-will-likely-continue-for-a-decade" target="_blank" rel="noreferrer noopener">Stock Futures Drop As ‘Reverse Trump Trade&#8217; Takes Hold—Peter Schiff Says Market Shift ‘Long Overdue&#8217; And Will Likely Continue For A Decade</a>
Why It Matters: While Palihapitiya acknowledged he &#8220;generally hate[s] price controls,&#8221; he expressed support for &#8220;ultra low cost rails in financial services.&#8221; His view contrasts with industry warnings that such caps could restrict credit access for lower-income Americans.
Capital One Financial Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COF#NYSE">COF</a>), the nation&#8217;s third-largest credit card lender, reported its credit card write-off rate increased to 6.1% in November, up from 5.2% a year ago.
The current average credit card interest rate stands at 21.5%, according to Federal Reserve data, <a href="https://www.benzinga.com/personal-finance/24/09/41024812/trumps-bold-plan-limit-credit-card-interest-rates-to-10-but-could-this-move-lead-to-dangerous-pr">more than double the proposed cap</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/equities/25/03/44212672/jamie-dimon-cashed-out-234-million-in-jpmorgan-stock-warren-buffett-stockpiled-334-billion-in-cash-weeks-later-markets-crashed-coincidence" target="_blank" rel="noreferrer noopener">Jamie Dimon Cashed Out $234 Million In JPMorgan Stock, Warren Buffett Stockpiled $334 Billion In Cash — Weeks Later, Markets Crashed. Coincidence?</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Economics

Chamath Palihapitiya Calls Proposed 10% Credit Card Interest Rate Cap 'Disruptive' As Trump, Sanders, And Lawmakers Push For Reform

Valens Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VLN#NYSE">VLN</a>), a leader in high-performance connectivity,&nbsp;today&nbsp;announced that it will display its innovative connectivity technology required for various AI applications at Embedded World 2025. Valens will display demonstrations in collaboration with a variety of companies, all offering the machine vision market cutting-edge solutions based on Valens' standard-compliant chipsets. These companies include Leopard Imaging, Acroname, Airy3D, Cherry Embedded Solutions, D3 Embedded, Fabrimex, Framos, Intel, RGo Robotics, and Teledyne e2v.

INTC

Valens Teams With Intel, Teledyne, and Others to Power Next-Gen Machine Vision Solutions, To Showcase AI-Driven Connectivity Tech at Embedded World 2025

VMAR

Vision Marine Technologies Announced The Filing Of A New Patent Application With Kennedy Lenart Spraggins, For Adaptive Control Of A Water Pump In A Marine Propulsion System

<ul>
<li>ESK-001 is a highly selective, next-generation oral tyrosine kinase 2 (TYK2) inhibitor currently under development in moderate-to-severe plaque psoriasis and systemic lupus</li>
<li>Phase 2 OLE data of ESK-001 at 40 mg BID demonstrated sustained or increasing clinical responses through week 52 on PASI 90, PASI 100, and sPGA 0</li>
<li>ESK-001 was generally well-tolerated at one year, with no new safety findings</li>
<li>Data further support ESK-001's potential to offer a highly differentiated and best-in-class treatment option for people with moderate-to-severe plaque psoriasis
<ul>
<li>Phase 3 ONWARD program ongoing with topline data expected in Q1 2026</li>
</ul>
</li>
</ul>

ALMS

Reported Saturday, Alumis' ESK-001 Demonstrates Sustained PASI 90 And PASI 100 Responses At Week 52 In Phase 2 Psoriasis Study

<ul>
<li>Standout combination of complete skin clearance and favorable safety profile in a once daily pill could shift treatment paradigm</li>
<li>Nearly half of patients with moderate-to-severe plaque psoriasis (PsO) treated with investigational icotrokinra achieved completely clear skin (IGA 0) at Week 24 in Phase 3 ICONIC-LEAD</li>
<li>Topline results from Phase 3 ICONIC-ADVANCE 1&amp;2&nbsp;studies show icotrokinra achieved co-primary endpoints and showed superiority to deucravacitinib in moderate-to-severe plaque PsO</li>
<li>These results pave the way to initiate the first-ever head-to-head study seeking to demonstrate the superiority of a pill versus injectable biologic in moderate-to-severe plaque PsO</li>
</ul>

Reported Saturday, Johnson & Johnson's Icotrokinra Achieves Complete Skin Clearance In 46% Of Patients At Week 24, Showing Potential To Redefine Psoriasis Treatment

Economist Mohamed El-Erian highlighted the risks of an economic slowdown as Federal Reserve Chairman Jerome Powell reiterated that the economy was growing at a &#8220;solid pace&#8221; during his Friday address at the University of Chicago.
What Happened: During a podcast with Forward Guidance, the chief economic advisor at Allianz, El-Erian underscored &#8220;two disturbing data&#8221; sets on the stagflation side.
This included a fall in February&#8217;s ISM Manufacturing New Orders Index, which contracted to 48.6% after expanding for three months, indicating a weakening demand and a decline in new orders compared to the previous month.
The other data set highlighted by El-Erian included February&#8217;s job report, wherein nonfarm payrolls increased by 151,000 and the unemployment rate rose to 4.1%, the highest in 3.5 years, thus inducing uncertainty in the labour market. However, &#8220;one qualification is the slip in labor force participation,&#8221; from 62.6% to 62.4%, according to him.
&#8220;So the concern that we all have, is that while growth is slowing down, companies will feel that they need to pass on the higher costs into higher prices, of course that&#8217;s why tariffs play a major role because people are worried that it won&#8217;t be a once and for all effect, it may be a repeated effect, so there&#8217;s a price level and then there&#8217;s an inflation effect,&#8221; he said.
Economic slowdown was &#8220;the talk of the town,&#8221; El-Erian said while highlighting lower oil prices, negative stock futures, lower yields, and a weaker dollar on Monday.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The possibility of lower US economic growth is now the talk of the town, amplified by this weekend's remarks from high-level officials. As you would expect, the market impact so far this early morning in Asian trading includes lower oil prices (with Brent again joining WTI below… <a href="https://t.co/egyftI2GpR">pic.twitter.com/egyftI2GpR</a>
&mdash; Mohamed A. El-Erian (@elerianm) <a href="https://twitter.com/elerianm/status/1898950253325279263?ref_src=twsrc%5Etfw">March 10, 2025</a></blockquote>
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Meanwhile, President Donald Trump did not rule out a recession this year, acknowledging potential short-term turbulence from his economic agenda but expressing confidence in future prosperity. In a Fox News interview, he said, "I hate to predict things like that" and called the changes "very big."
See Also: <a href="https://www.benzinga.com/government/regulations/25/03/44160833/us-dollar-weakness-a-symptom-not-cause-argues-expert-as-economist-hails-devaluation-to-restore-global-growth">US Dollar Weakness A &#8216;Symptom Not Cause,&#8217; Argues Expert As Economist Hails Devaluation To &#8216;Restore Global Growth&#8217;</a>
Why It Matters: Despite the looming uncertainties and the difficulty of businesses to chart their way forward, Fed Chair Powell <a href="https://www.federalreserve.gov/newsevents/speech/powell20250307a.htm">said</a>, &#8220;The U.S. economy continues to be in a good place.&#8221;
He reaffirmed that the labor market is solid, and inflation has moved closer to the 2% longer-run goal. &#8220;At the Federal Reserve, we are intently focused on the dual-mandate goals given to us by Congress: maximum employment and stable prices,&#8221; Powell said.
Outlining the future course of action, he said that if inflation doesn&#8217;t fall to the 2% goal, the Fed will maintain policy restraint for longer and if the labor market weakens, the Fed will ease the policy accordingly.
Talking about the rate cuts, El-Erian added that he sees one cut and not three cuts in 2025 because of the persistent inflation and how the Fed is unlikely to &#8220;look through&#8221; that issue, the way they did in 2021.
Price Action: Futures of the Dow Jones slipped to 0.38%, whereas S&amp;P 500 and Nasdaq 100 declined by 0.49% and 0.61% respectively. Crude Oil WTI Futures dropped 0.51% to $66.7, the dollar index spot was down to the 103.816 level and the 10-year Treasury bonds yielded 4.29% as of 2:18 a.m., EDT.
The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, advanced on Friday. SPY gained 0.56% to $575.92, and QQQ was up 0.74% to $491.79, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
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<li><a href="https://www.benzinga.com/general/market-summary/25/03/44159401/rigetti-claims-leadership-in-quantum-computing-race-aims-to-scale-to-100-qubits-as-it-looks-to-catch-up-with-ibm-google">Rigetti Asserts &#8216;Leadership&#8217; In Quantum Computing Race, Aims To Scale To 100 Qubits As It Looks To Catch Up With IBM, Google</a></li>
</ul>
Photo courtesy: Federal Reserve

Equities

Government

Market Summary

Federal Reserve

US Economic Slowdown 'Talk Of The Town,' Says Economist Mohamed El-Erian As Fed Chair Powell Reaffirms Growth At 'Solid Pace'

<ul>
<li>Low disease activity was observed after a mean duration of 80 consecutive days off-treatment following success with VTAMA cream, with a mean weekly Peak Pruritus Numerical Rating Scale (PP-NRS) score of 2.9 at the end of the treatment-free interval</li>
<li>Data presented as late breaker at 2025 American Academy of Dermatology (AAD) Annual Meeting</li>
</ul>

Reported Saturday, Organon's VTAMA Phase 3 Data Shows 84% Of Patients Maintained Mild Disease After 80-Day Off-Treatment Interval In Adults And Children 2+

<ul>
<li>Significantly more patients treated with Sotyktu achieved ACR and PASI response rates and had greater improvements in patient-reported quality of life compared with placebo at Week 16</li>
<li>Sotyktu was well-tolerated in comparison with placebo and apremilast, demonstrating safety consistent with its established clinical profile</li>
</ul>

Reported Saturday, Bristol Myers Squibb Presents Late-Breaking Phase 3 Data Showing Sotyktu Superior To Placebo In Psoriatic Arthritis

<ul>
<li>Nearly half of patients with moderate-to-severe plaque psoriasis (PsO) treated with icotrokinra achieved completely clear skin (IGA 0) at Week 24 in Phase 3 ICONIC-LEAD study</li>
<li>Topline results from Phase 3 ICONIC-ADVANCE 1&amp;2studies show icotrokinra achieved co-primary endpoints and showed superiority to deucravacitinib in moderate-to-severe PsO</li>
<li>Results pave the way to initiate the first-ever head-to-head study (ICONIC-ASCEND) seeking to demonstrate the superiority of a pill versus injectable biologic in moderate-to-severe PsO</li>
</ul>

PTGX

Reported Saturday, Protagonist Reports Icotrokinra Achieved IGA 0/1 In 74% Of Patients At Week 24 With Favorable Safety Profile

Four Canadian stores of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) have been suspected of exploiting the country&#8217;s EV rebate program. The stores are said to have sold an average of 30&nbsp;cars per hour over three days, claiming&nbsp;over 50% of the&nbsp;remaining rebate funds.
What Happened: Four Tesla stores in Canada managed to sell an average of 30 cars per hour, amounting to 120 cars per hour across all four locations, as <a href="https://www.thestar.com/news/canada/tesla-gamed-the-system-canadian-auto-dealers-stiffed-millions-when-u-s-giant-rushed-to/article_6d1025c6-fa0a-11ef-b780-a73277202cb2.html">reported </a>by the Toronto Star on Friday. 
This sales boom lasted for three consecutive days, even during hours when the stores were supposedly closed. Reportedly, a total of 8,653 cars were sold during the final 72 hours of the EV rebate program, also known as the iZEV Program.
Consequently, the Elon Musk-led company applied&nbsp;for C$43.1 million ($30 million) in&nbsp;rebates, which is over&nbsp;half of the remaining C$71.8&nbsp;million ($50 million) allocated for EV&nbsp;rebates.
The iZEV rebate program provided incentives ranging from C$2,500 ($1740.29) to C$5,000 ($3480.57) for purchasing electric vehicles and plug-in hybrids. Dealerships applied the rebate directly to the purchase price, anticipating reimbursement from the government.
Tesla did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment.
As a result of the incident, the rival brands haven&#8217;t been able to access the EV credits as Tesla claimed more than half of them. The Canadian Automobile Dealers Association (CADA), has received rebate claims for 2,295 electric vehicles from 226 dealers who are yet to receive the reimbursement, resulting in a collective shortfall of C$10 million.
CADA&#8217;s spokesperson, Huw Williams, told the Toronto Star, "Somehow, Tesla gamed the system. What we can't figure out is how this could have happened without setting off alarm bells."
Notably, Transport Canada, the body which oversees the iZEV rebate program, has not clarified whether any wrongdoing took place. It also stated that there is no restriction preventing Tesla from submitting rebate paperwork in bulk after delivering sold cars.
SEE ALSO: <a href="https://www.benzinga.com/news/25/03/44211240/warren-buffett-on-debt-and-donald-trumps-money-moves-trump-never-went-right">Warren Buffett on Debt and Donald Trump&#8217;s Money Moves: Trump &#8216;Never Went Right&#8217;</a>
Why It Matters: Tesla has been struggling in Canada, wherein thousands of Canadians have even signed a petition for revoking Musk&#8217;s Canadian citizenship. According to&nbsp;data from shop4tesla.com, the EV maker&#8217;s sales in Canada have dropped by approximately 70% between December 2024 and January 2025.
This surge in sales comes on the heels of Tesla&#8217;s recent offer of lifetime free supercharging for new Foundation Series Cybertruck purchases in Canada. Tesla <a href="https://www.benzinga.com/tech/25/03/44160193/tesla-offers-lifetime-free-supercharging-on-foundation-series-cybertruck-purchases-in-canada-mexico">announced this offer </a>to make the expensive truck more appealing to customers. The offer, valid for orders placed on or after March 5, lasts for the duration of the customer's ownership of the vehicle and is non-transferable.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/25/03/44212993/palantir-ceo-alex-karp-meets-hyundai-vice-chair-to-enhance-ai-shipyard-defense-collaboration-amid-trumps-call-for-us-shipbuilding-revival">Palantir CEO Alex Karp Meets Hyundai Vice Chair to Enhance AI Shipyard, Defense Collaboration Amid Trump&#8217;s Call for US Shipbuilding Revival</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

TSLA

Tesla Suspected Of EV Rebate Manipulation In Canada Amid Sudden Sales Surge Before Deadline: 'Tesla Gamed The System', Says Industry Body

<ul>
<li>Results presented in AAD late-breaker demonstrate bempikibart's encouraging improvement on SALT reduction at week 24 and continued effects after dosing cessation in patients with severe and very severe alopecia areata (AA) --</li>
<li>Durable, ongoing responses in multiple patients through week 36 follow-up period and beyond to week 55, despite only 24 weeks of dosing, suggestive of potential for remittive effect; multiple inbound patient requests to re-initiate dosing --</li>
<li>In the Phase 2a clinical trial, bempikibart was observed to be safe and well-tolerated, with PK supporting subcutaneous dosing and receptor occupancy data demonstrating desired target engagement; clinical biomarkers showed changes in Th2 biomarkers, and expected on-mechanism changes in T-cells, indicative of potent IL-7 and TSLP inhibition --</li>
<li>Bempikibart development program remains on track with open-label extension study to initiate in 1H'25; SIGNAL-AA Part B remains on track for initiation of dosing in 1H'25, with topline data expected in 1H'26 --</li>
</ul>

QTTB

Reported Saturday, Q32 Bio Presents Phase 2a Data Showing Bempikibart Induces Sustained Hair Regrowth Post-Treatment In Severe Alopecia Areata

<ul>
<li>Late-breaking results presented at AAD show 80% or more scalp hair coverage at Week 36 in 42.4% of adolescents receiving baricitinib 4 mg</li>
<li>Patients treated with&nbsp;baricitinib 4 mg saw significant regrowth of eyebrows and eyelashes at Week 36 compared to placebo</li>
<li>Positive data underscore Lilly's continued expansion across dermatologic conditions, with treatments that can improve outcomes for patients with the greatest need</li>
</ul>

INCY

Reported Saturday, Lilly And Incyte Present Late-Breaking Phase 3 Data Showing Baricitinib Significantly Improves Scalp, Eyebrow, And Eyelash Regrowth In Teens With AA

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