adplus-dvertising
Connect with us

Business

AstraZeneca says COVID-19 vaccine shows 76% efficacy in updated analysis of U.S. trial – CBC.ca

Published

 on


AstraZeneca said its COVID-19 vaccine had a 76 per cent efficacy rate at preventing symptomatic illness in a new analysis of its major U.S. trial — slightly lower than the level announced earlier this week in a report that was criticized for using outdated information.

U.S. health officials had publicly rebuked the drugmaker for not using the most up-to-date information when it published an interim analysis on Monday that said the vaccine had a 79 per cent efficacy rate.

The latest data was based on 190 infections among more than 32,400 participants in the United States, Chile and Peru. The earlier interim data was based on 141 infections through Feb. 17.

300x250x1

“The primary analysis is consistent with our previously released interim analysis, and confirms that our COVID-19 vaccine is highly effective in adults,” Mene Pangalos, executive vice president of BioPharmaceuticals R&D at AstraZeneca, said in a statement.

AstraZeneca said it plans to seek U.S. emergency use authorization in the coming weeks and the latest data has been presented to the independent trial oversight committee, the Data Safety Monitoring Board.

AstraZeneca reiterated on Thursday that the shot, developed with Oxford University, was 100 per cent effective against severe or critical forms of the disease. It also said the vaccine showed 85 per cent efficacy in adults 65 years and older.

WATCH | Fauci says AstraZeneca vaccine is safe and effective:

Top U.S. infectious disease expert Dr. Anthony Fauci says interim data shows that the AstraZeneca-Oxford COVID-19 vaccine is 78.9 per cent effective overall. 1:05

“A lot of us were waiting for this large, well-constructed and reported Phase III study,” said Paul Griffin, a professor at the University of Queensland.

Although AstraZeneca’s vaccine has been authorized for use in more than 50 countries, including Canada, it has not yet been given the green light in the U.S.

Easier and cheaper to transport

“This appears to be a very effective vaccine with no safety concerns. Hopefully, this should now give people the confidence that this vaccine is the right one to continue to use moving forward,” Griffin said, noting that he and his parents have taken the vaccine.

The updated 76 per cent efficacy rate compares with rates of about 95 per cent for vaccines from Pfizer-BioNTech and Moderna.

The AstraZeneca vaccine is, however, seen as crucial in tackling the spread of COVID-19 across the globe, not just due to limited vaccine supply but also because it is easier and cheaper to transport than rival shots. It has been granted conditional marketing or emergency use authorization in more than 70 countries.

The highly unusual rebuke from U.S. health authorities had marked a fresh setback for the vaccine that was once hailed as a milestone in the fight against the COVID-19 pandemic, but has been dogged by questions over its effectiveness and possible side effects.

The shot has faced questions since late last year when the drugmaker and Oxford University published data from an earlier trial with two different efficacy readings as a result of a dosing error.

Then this month, more than a dozen countries temporarily suspended giving out the vaccine after reports linked it to a rare blood clotting disorder in a very small number of people.

The European Union’s drug regulator said last week the vaccine was clearly safe, but Europeans remain skeptical about its safety.

On Wednesday, Health Canada said it’s updating the label on the AstraZeneca-Oxford and Covishield COVID-19 vaccines to add information about “very rare reports of blood clots associated with low levels of blood platelets,” but says the shot remains safe and that the benefits of getting the vaccine outweigh the risks.

Let’s block ads! (Why?)

728x90x4

Source link

Continue Reading

Business

Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin's Fourth Halving Arrives – Investor's Business Daily

Published

 on


[unable to retrieve full-text content]

  1. Dow Jones Rises But S&P, Nasdaq Fall; Nvidia, SMCI Flash Sell Signals As Bitcoin’s Fourth Halving Arrives  Investor’s Business Daily
  2. Iran fires at apparent Israeli attack drones: Mideast tensions  The Associated Press
  3. S&P 500 extends losing streak to sixth day, Dow up 210 points  Yahoo Canada Finance
  4. Stock Market Today: Dow, S&P Live Updates for April 19  Bloomberg
  5. Stock market today: Wall Street limps toward its longest weekly losing streak since September  CityNews Kitchener

728x90x4

Source link

Continue Reading

Business

Netflix stock sinks on disappointing revenue forecast, move to scrap membership metrics – Yahoo Canada Finance

Published

 on


Netflix (NFLX) stock slid as much as 9.6% Friday after the company gave a second quarter revenue forecast that missed estimates and announced it would stop reporting quarterly subscriber metrics closely watched by Wall Street.

On Thursday, Netflix guided to second quarter revenue of $9.49 billion, a miss compared to consensus estimates of $9.51 billion.

The company said it will stop reporting quarterly membership numbers starting next year, along with average revenue per member, or ARM.

300x250x1

“As we’ve evolved our pricing and plans from a single to multiple tiers with different price points depending on the country, each incremental paid membership has a very different business impact,” the company said.

Netflix reported first quarter earnings that beat across the board on Thursday, with another 9 million-plus subscribers added in the quarter.

ADVERTISEMENT

Subscriber additions of 9.3 million beat expectations of 4.8 million and followed the 13 million net additions the streamer added in the fourth quarter. The company added 1.7 million paying users in Q1 2023.

Revenue beat Bloomberg consensus estimates of $9.27 billion to hit $9.37 billion in the quarter, an increase of 14.8% compared to the same period last year as the streamer leaned on revenue initiatives like its crackdown on password-sharing and ad-supported tier, in addition to the recent price hikes on certain subscription plans.

Netflix’s stock has been on a tear in recent months, with shares currently trading near the high end of its 52-week range. Wall Street analysts had warned that high expectations heading into the print could serve as an inherent risk to the stock price.

Earnings per share (EPS) beat estimates in the quarter, with the company reporting EPS of $5.28, well above consensus expectations of $4.52 and nearly double the $2.88 EPS figure it reported in the year-ago period. Netflix guided to second quarter EPS of $4.68, ahead of consensus calls for $4.54.

Profitability metrics also came in strong, with operating margins sitting at 28.1% for the first quarter compared to 21% in the same period last year.

The company previously guided to full-year 2024 operating margins of 24% after the metric grew to 21% from 18% in 2023. Netflix expects margins to tick down slightly in Q2 to 26.6%.

Free cash flow came in at $2.14 billion in the quarter, above consensus calls of $1.9 billion.

Meanwhile, ARM ticked up 1% year over year — matching the fourth quarter results. Wall Street analysts expect ARM to pick up later this year as both the ad-tier impact and price hike effects take hold.

On the ads front, ad-tier memberships increased 65% quarter over quarter after rising nearly 70% sequentially in Q3 2023 and Q4 2023. The ads plan now accounts for over 40% of all Netflix sign-ups in the markets it’s offered in.

FILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File PhotoFILE PHOTO: Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo

Netflix reported first quarter earnings after the bell on Thursday. REUTERS/Dado Ruvic/File Photo (REUTERS / Reuters)

Alexandra Canal is a Senior Reporter at Yahoo Finance. Follow her on X @allie_canal, LinkedIn, and email her at alexandra.canal@yahoofinance.com.

For the latest earnings reports and analysis, earnings whispers and expectations, and company earnings news, click here

Read the latest financial and business news from Yahoo Finance

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Business

Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack – OilPrice.com

Published

 on



Oil Prices Erase Gains as Iran Downplays Reports of Israeli Missile Attack | OilPrice.com



300x250x1


Tsvetana Paraskova

Tsvetana Paraskova

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. 

More Info

Trending Discussions

Premium Content

  • Oil prices initially spiked on Friday due to unconfirmed reports of an Israeli missile strike on Iran.
  • Prices briefly reached above $90 per barrel before falling back as Iran denied the attack.
  • Iranian media reported activating their air defense systems, not an Israeli strike.

oil

Oil prices gave up nearly all of early Friday’s gains after an Iranian official told Reuters that there hadn’t been a missile attack against Iran.

Oil surged by as much as $3 per barrel in Asian trade early on Friday after a U.S. official told ABC News today that Israel launched missile strikes against Iran in the early morning hours today. After briefly spiking to above $90 per barrel early on Friday in Asian trade, Brent fell back to $87.10 per barrel in the morning in Europe.

The news was later confirmed by Iranian media, which said the country’s air defense system took down three drones over the city of Isfahan, according to Al Jazeera. Flights to three cities including Tehran and Isfahan were suspended, Iranian media also reported.

Israel’s retaliation for Iran’s missile strikes last week was seen by most as a guarantee of escalation of the Middle East conflict since Iran had warned Tel Aviv that if it retaliates, so will Tehran in its turn and that retaliation would be on a greater scale than the missile strikes from last week. These developments were naturally seen as strongly bullish for oil prices.

However, hours after unconfirmed reports of an Israeli attack first emerged, Reuters quoted an Iranian official as saying that there was no missile strike carried out against Iran. The explosions that were heard in the large Iranian city of Isfahan were the result of the activation of the air defense systems of Iran, the official told Reuters.

Overall, Iran appears to downplay the event, with most official comments and news reports not mentioning Israel, Reuters notes.

The International Atomic Energy Agency (IAEA) said that “there is no damage to Iran’s nuclear sites,” confirming Iranian reports on the matter.

The Isfahan province is home to Iran’s nuclear site for uranium enrichment.

“Brent briefly soared back above $90 before reversing lower after Iranian media downplayed a retaliatory strike by Israel,” Saxo Bank said in a Friday note.

The $5 a barrel trading range in oil prices over the past week has been driven by traders attempting to “quantify the level of risk premium needed to reflect heightened tensions but with no impact on supply,” the bank said, adding “Expect prices to bid ahead of the weekend.”

At the time of writing Brent was trading at $87.34 and WTI at $83.14.

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Oilprice.com:

Download The Free Oilprice App Today


Back to homepage

<!–

Trending Discussions

–>

Related posts

Adblock test (Why?)

728x90x4

Source link

Continue Reading

Trending