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Joint vaccine trial 'not terminated'; Chinese virologists worry data safety in Canada – Global Times

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A medical worker shows the inactivated COVID-19 vaccine candidate developed by SinoPharm at the company’s vaccine candidate production plant on April 10. Photo: Xinhua

Chinese vaccine developer CanSino Biologics said on Thursday that its collaboration with a Canadian research team on late-stage clinical trials of a COVID-19 vaccine candidate “has not been terminated,” refuting reports by Canadian media which said the cooperation was called off for rising tensions between the two countries.

CanSino sent an English clarification announcement to the Global Times on Thursday night, in which it said the collaboration with the National Research Council of Canada (NRC) has not been terminated. None of the management of the company has accepted any interview in relation to the clinical trials for Ad5-nCoV in Canada.

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CanSino also said in the Thursday announcement that it noticed misleading media reports related to the clinical trials for the vaccine candidate in Canada. 

Canadian media CBC News on Wednesday reported that the cooperation of the two sides which was announced in May was “abandoned amid rising tensions between the two countries.” The report quoted an emailed statement from the NRC as saying that the Chinese Customs had not approved the vaccine candidate, named Ad5-nCoV, to be sent to Canada.

CanSino said on August 18 that the Phase III clinical trials with Canada had not yet started.

Canadian media even called the delayed shipments as an “apparent retaliation” from China for the arrest of Huawei CFO Meng Wanzhou.

Aside from saying it is currently driving the international multi-center phase III clinical trial for Ad5-nCoV with several countries, CanSino did not provide further details on the cooperation with the NRC in the announcement and NRC has not responded to a Global Times request as of press time.

However, some virologists reached by the Global Times believe that scientific, elements may have played a role in the twists and turns of the collaboration, though Canada’s damage to legal and diplomatic relations may also be a factor.

The types of COVID-19 that have spread in North America are different from those in Asia or Europe, making Canada a less ideal place for clinical trials of this China-based vaccine, said Yang Zhanqiu, a professor at the pathogen biology department of Wuhan University.

“Also, the number of infected patients in Canada is fewer than many other countries,” Yang told the Global Times on Thursday, saying that made Canada a less favorable destination for clinical trials of a recombinant vaccine that requires a large group of volunteers facing a higher risk of infection.

Canada has reported more than 128,000 cases of COVID19 so far, with a downward trend since early May. 

Another Beijing-based virologist who asked not to be named said that property rights disputes or other legal concerns may also put obstacles to the cooperation, as media reported the Ad5-nCoV used a piece of Canadian technology – a cell line modified by the NRC – which the NRC had provided to CanSino for use in Ebola vaccine R&D in 2014 and coronavirus vaccine research in 2020.

The twists of the cooperation deal may have also reflected China’s possible doubts about the safety of conducting trials in Canada over concerns Chinese vaccine R&D data may be leaked under outside pressure. Canada has already betrayed Chinese companies due to US pressure, Tao Lina, a Shanghai-based immunological expert, told the Global Times on Thursday.

China, along with other countries such as Russia and Saudi Arabia, has made progress in Phase III trials cooperation of the COVID-19 vaccine, Tao said.

Volunteers of joint China-Russia trials on the same vaccine candidate are scheduled to be all vaccinated by the end of September, and the results will be released by late fall, the Global Times learned on Sunday from Petrovax, a leading Russian pharmaceutical products developer.

“China has long rejected vaccine nationalism or politicization of coronavirus vaccines, as can be seen in its extensive cooperation with other countries,” Tao added.

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

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[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

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

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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.

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“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.

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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

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

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



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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. 

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  • 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.

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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

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