Tesla and Rivian are settling their battery tech theft lawsuitMinnesotans’ generosity on this year’s Give to the Max Day surpassed the previous record by almost $3 million. It’s a pleasant surprise for Give MN’s executive director Jake Blumberg, who said he had concerns given the current divisive economic climate. “I think we all know right now that prices have been high at checkout lanes throughout our lives and nonprofits have been experiencing the same thing,” Blumberg said. “ And it seems to us that donors really recognized that and wanted to step up to help the organizations that help their neighbors.” In 2020, Give MN saw the state break $30 million in donations, and it’s been consistently increasing since then. Blumberg said this shows Minnesotans care deeply about one another and Give to the Max gives them a chance to find common ground. This year saw more donations than years before and in higher amounts. The average donation went from $117 over the last few years to $134. “Will that trend continue? We sure hope it does, because the need for support from donors is going to continue to be at historic levels,” he said. “We know the need has only grown since 2020 and it’s certainly anticipated to continue growing. So hopefully donors continue to meet that challenge.” Nationally, donation trends have plateaued, but Blumberg says Minnesota has been an outlier since the pandemic. “There have been multiple years now where other giving events, like Give to the Max Day and other giving trends around individual donors have showed declines, and Minnesota has bucked those national trends, and this is one of those years,” Blumberg said. Blumberg said people give based on their values. Compared to previous years, more contributions were made to organizations that prioritized direct and social services, in addition to hunger relief organizations and those supporting unsheltered people and animals.
US added a strong 227,000 jobs in November in bounce-back from October slowdown WASHINGTON (AP) — America’s job market rebounded in November, adding 227,000 workers in a solid recovery from the previous month, when the effects of strikes and hurricanes had sharply diminished employers’ payrolls. Last month’s hiring growth was up considerably from a meager gain of 36,000 jobs in October. The government also revised up its estimate of job growth in September and October by a combined 56,000. Friday’s report also showed that the unemployment rate ticked up from 4.1% in October to a still-low 4.2%. The November data provided the latest evidence that the U.S. job market remains durable even though it has lost significant momentum from the 2021-2023 hiring boom, when the economy was rebounding from the pandemic recession. Federal appeals court upholds law requiring sale or ban of TikTok in the US A federal appeals court panel on Friday unanimously upheld a law that could lead to a ban on TikTok in a few short months, handing a resounding defeat to the popular social media platform as it fights for its survival in the U.S. The U.S. Court of Appeals for the District of Columbia Circuit ruled that the law - which requires TikTok to break ties with its China-based parent company ByteDance or be banned by mid-January — is constitutional, rebuffing TikTok’s challenge that the statute ran afoul of the First Amendment and unfairly targeted the platform. TikTok and ByteDance — another plaintiff in the lawsuit — are expected to appeal to the Supreme Court. Stock market today: Wall Street hits more records following a just-right jobs report NEW YORK (AP) — U.S. stocks rose to records after data suggested the job market remains solid enough to keep the economy going, but not so strong that it raises immediate worries about inflation. The S&P 500 climbed 0.2%, just enough top the all-time high set on Wednesday, as it closed a third straight winning week in what looks to be one of its best years since the 2000 dot-com bust. The Dow Jones Industrial Average dipped 0.3%, while the Nasdaq composite climbed 0.8% to set its own record. Treasury yields eased after the jobs report showed stronger hiring than expected but also an uptick in the unemployment rate. Killing of UnitedHealthcare CEO spotlights complex challenge companies face in protecting top brass NEW YORK (AP) — In an era when online anger and social tensions are increasingly directed at the businesses consumers count on, Meta last year spent $24.4 million to surround CEO Mark Zuckerberg with security. But the fatal shooting this week of UnitedHealthcare CEO Brian Thompson while walking alone on a New York City sidewalk has put a spotlight on the widely varied approaches companies take to protect their leaders against threats. And experts say the task of evaluating threats against executives and taking action to protect them is getting more difficult. One of the primary worries are loners whose rantings online are fed by others who are like-minded. It’s up to corporate security analysts to decide what represents a real threat. Police believe the gunman who killed UnitedHealthcare's CEO quickly left NYC on a bus after shooting NEW YORK (AP) — Police officials say the gunman who killed the CEO of the largest U.S. health insurer likely left New York City on a bus soon after fleeing the scene on a bicycle and hopping in a cab. Chief of Detectives Joseph Kenny says video of the gunman fleeing Wednesday’s shooting of UnitedHealthcare CEO Brian Thompson showed him riding through Central Park and later taking a taxi to a bus terminal, directly across from New Jersey. Police have video of the man entering the bus station but no video of him exiting. Investigators on Friday found a backpack in Central Park that was carried by the shooter, police said. USDA orders nationwide testing of milk for bird flu to halt the virus The U.S. government has ordered testing of the nation’s milk supply for bird flu to better monitor the spread of the virus in dairy cows. The Agriculture Department on Friday said raw or unpasteurized milk from dairy farms and processors nationwide must be tested on request starting Dec. 16. Testing will begin in six states — California, Colorado, Michigan, Mississippi, Oregon and Pennsylvania. The move is aimed at eliminating the virus, which has infected more than 700 dairy herds in 15 states. Words on ammo in CEO shooting echo common phrase on insurer tactics: Delay, deny, defend A message left at the scene of an insurance executive’s fatal shooting echoes a phrase commonly used to describe insurer tactics to avoid paying claims. The words “deny,” “defend” and “depose” were written on the ammunition used to kill UnitedHealthcare's CEO. That's according to two officials who spoke to The Associated Press on condition of anonymity Thursday. The words are similar to the phrase “delay, deny, defend.” That's how attorneys describe insurers denying services and payment, and the title of a 2010 book critical of the industry. Police haven’t officially commented on the words. But Thompson’s shooting and the messages on the ammunition have sparked outrage on social media and elsewhere, reflecting frustration Americans have over the cost and complexity of getting care. Michigan Democrats move to protect reproductive health data before GOP takes control of House LANSING, Mich. (AP) — Democrats in Michigan are pressing to pass reproductive health care legislation before the party loses its majority with the new legislative session next year. A bill to protect digital reproductive health data including data logged on menstrual cycle tracking apps is a Democratic priority as lawmakers meet this month. Democratic women and supporters of the legislation say they are acting with new urgency before President-elect Donald Trump takes office because they don't believe his campaign promise to leave abortion to the states. The rush is also a reaction to Republicans taking control of the state House in January. Democrats kept control of the state Senate in the November election. Japan's Nippon Steel sets sights on a growing overseas market in its bid to acquire US Steel KASHIMA, Japan (AP) — The signs at Nippon Steel read: “The world through steel,” underlining why Japan’s top steelmaker is pursuing its $15 billion bid to acquire U.S. Steel. Japan's domestic market isn't growing, so Nippon Steel has its eyes on India, Southeast Asia and the United States, where populations are still growing. Nippon Steel gave reporters a tour of one of its plants in Japan on Friday. The bid for U.S. Steet is opposed by President-elect Donald Trump, President Joe Biden and American steelworkers. If the deal goes through, U.S. Steel will keep its name and its headquarters in Pittsburgh, Pennsylvania, but become subsidiary of Nippon Steel. China's ban on key high-tech materials could have broad impact on industries, economy BANGKOK (AP) — China has banned exports of key materials used for a wide range of products, including smartphones, electric vehicles, radar systems and CT scanners, swiping back at Washington after it expanded export controls to include dozens of Chinese companies that make equipment used to produce computer chips. Both sides say the controls are justified by national security concerns. Analysts say they could have a much wider impact on manufacturing in many industries and supply chains, depending on the ability of each side to compensate for loss of access to strategically important materials, equipment and components. Here's why this could be a tipping point in trade conflict between the two biggest economies.
Derik Queen takes over to lead Maryland men’s basketball over Villanova, 76-75
Malique Ewin finished with team highs of 17 points and seven rebounds to lead the Florida State Seminoles to a 92-59 victory over the Massachusetts Minutemen in each team's final game of the Naismith Hall of Fame Tip-Off on Sunday afternoon in Uncasville, Conn. The Seminoles (6-1) won their third consecutive game and went 2-0 in the event as they pulled away in the second half, leading by as many as 36 points. It's Florida State's best start since the 2019-20 season when it went 7-1. UMass (1-5) dropped its fifth in a row following a season-opening win over New Hampshire despite a strong game on Sunday from Jaylen Curry, who scored 17 points. Curry, with six free throws, helped propel the Minutemen on a 10-0 run over a four-plus minute span in the first half to take a 24-23 lead with 4:22 left. FSU closed the half on a 13-3 run to lead 37-27 at halftime. A 15-4 surge to open the second half helped the Seminoles break the game open. Florida State's defense frustrated UMass shooters throughout the contest, especially on the perimeter, limiting the Minutemen to 3-for-24 shooting (12.5 percent) from 3-point range and 18-for-58 (31 percent) overall. The Seminoles finished with 22 points off 17 UMass turnovers. On the flipside, Florida State had one of its best shooting games of the season. The Seminoles moved the ball well throughout the game and finished with 25 assists while only turning the ball over 10 times. The Seminoles shot 33 for 58 (57 percent) from the field and made 9 of 18 three-pointers to put together a season-high scoring output. Once again, Florida State shined thanks to its depth as 10 players scored and four scored in double figures. The Seminoles were able to have 16 players participate in the game as well. Jamir Watkins finished with 14 points while Jerry Deng and Justin Thomas each had 10 points. For UMass, Daniel Rivera finished with 12 points and six rebounds while Nate Guerengomba had 10 points. Daniel Hankins-Sanford collected a game-high 13 rebounds. --Field Level MediaGeorgia police fire tear gas, water cannons at pro-EU protesters
House rejects Democratic efforts to force release of Matt Gaetz ethics reportNew Peacock drama revisits one of the deadliest terror attacks in UK history
WASHINGTON (AP) — A person accused of accosting U.S. Rep. Nancy Mace in a Capitol Office building pleaded not guilty on Wednesday to a misdemeanor assault charge. Witnesses told police that James McIntyre, 33, of Chicago, shook Mace's hand in an “exaggerated, aggressive” manner after approaching the South Carolina Republican in the Rayburn House Office Building on Tuesday evening, according to a police affidavit. Mace, who is identified only by her initials in a court filing, posted a string of social media messages about the incident. She said she was “physically accosted” at the Capitol, and she thanked President-elect Donald Trump for calling her Wednesday morning to check on her condition. “I’m going to be fine just as soon as the pain and soreness subside,” Mace wrote. Mace declined to be treated by a paramedic after her encounter with McIntyre, who was arrested Tuesday by the Capitol Police, the affidavit says. Mace told police that McIntyre said, “Trans youth serve advocacy,” while shaking her hand. Last month, Mace proposed a resolution that would prohibit any lawmakers and House employees from “using single-sex facilities other than those corresponding to their biological sex.” Mace said the bill is aimed specifically at Delaware Democrat Sarah McBride — the first transgender person to be elected to Congress. A magistrate judge ordered McIntyre’s release after an arraignment in Superior Court of the District of Columbia. Efforts to reach an attorney for McIntyre weren't immediately successful. The Associated Press
The large mysterious drones reported flying over parts of New Jersey in recent weeks appear to avoid detection by traditional methods such as helicopter and radio, according to a state lawmaker briefed Wednesday by the Department of Homeland Security. In a post on the social media platform X, Assemblywoman Dawn Fantasia described the drones as up to 6 feet in diameter and sometimes traveling with their lights switched off. The Morris County Republican was among several state and local lawmakers who met with state police and Homeland Security officials to discuss the spate of sightings that range from the New York City area through New Jersey and westward into parts of Pennsylvania, including over Philadelphia. The devices do not appear to be The dronees wereffffflown by hobbyists, Fantasia wrote. Dozens of mysterious nighttime flights started last month and have raised growing concern among residents and officials. Part of the worry stems from the flying objects initially being spotted near the Picatinny Arsenal, a U.S. military research and manufacturing facility; and over President-elect Donald Trump’s golf course in Bedminster. Drones are legal in New Jersey for recreational and commercial use, but they are subject to local and Federal Aviation Administration regulations and flight restrictions. Operators must be FAA certified. Most, but not all, of the drones spotted in New Jersey were larger than those typically used by hobbyists. The number of sightings has increased in recent days, though officials say many of the objects seen may have been planes rather than drones. It’s also possible that a single drone has been reported more than once. Gov. Phil Murphy and law enforcement officials have stressed that the drones don’t appear to threaten public safety. The FBI has been investigating and has asked residents to share any videos, photos or other information they may have. Two Republican Jersey Shore-area congressmen, U.S. Reps. Chris Smith and Jeff Van Drew, have called on the military to shoot down the drones. Smith said a Coast Guard commanding officer briefed him on an incident over the weekend in which a dozen drones followed a motorized Coast Guard lifeboat “in close pursuit” near Barnegat Light and Island Beach State Park in Ocean County. Coast Guard Lt. Luke Pinneo told The Associated Press Wednesday “that multiple low-altitude aircraft were observed in vicinity of one of our vessels near Island Beach State Park.” The aircraft weren't perceived as an immediate threat and didn't disrupt operations, Pinneo said. The Coast Guard is assisting the FBI and state agencies in investigating. In a letter to U.S. Defense Secretary Lloyd Austin, Smith called for military help dealing with the drones, noting that Joint Base McGuire-Dix-Lakehurst has the capability "to identify and take down unauthorized unmanned aerial systems.” However, Pentagon spokeswoman Sabrina Singh told reporters Wednesday that “our initial assessment here is that these are not drones or activities coming from a foreign entity or adversary.” Many municipal lawmakers have called for more restrictions on who is entitled to fly the unmanned devices. At least one state lawmaker proposed a temporary ban on drone flights in the state. “This is something we’re taking deadly seriously. I don’t blame people for being frustrated," Murphy said earlier this week. A spokesman for the Democratic governor said he did not attend Wednesday's meeting. Republican Assemblyman Erik Peterson, whose district includes parts of the state where the drones have been reported, said he also attended Wednesday's meeting at a state police facility in West Trenton. The session lasted for about 90 minutes. Peterson said DHS officials were generous with their time, but appeared dismissive of some concerns, saying not all the sightings reported have been confirmed to involve drones. So who or what is behind the flying objects? Where are they coming from? What are they doing? “My understanding is they have no clue,” Peterson said. A message seeking comment was left with the Department of Homeland Security. Most of the drones have been spotted along coastal areas and some were recently reported flying over a large reservoir in Clinton. Sightings also have been reported in neighboring states. James Edwards, of Succasunna, New Jersey, said he has seen a few drones flying over his neighborhood since last month. “It raises concern mainly because there's so much that's unknown,” Edwards said Wednesday. “There are lots of people spouting off about various conspiracies that they believe are in play here, but that only adds fuel to the fire unnecessarily. We need to wait and see what is really happening here, not let fear of the unknown overtake us." —— AP reporters Mike Catalini in Morrisville, Pennsylvania; and Wayne Parry in Point Pleasant, New Jersey, contributed to this report.Carbon Revolution Announces Receipt of Non-Compliance Letter from NasdaqThe Yoon Suk Yeol administration has focused on maintaining fiscal soundness as a key economic policy. But its policy showed signs of change last week amid growing concerns about the toxic mix of sluggish domestic demand and a continued slowdown in economic growth. “In the first half of this year, the government has made efforts to revitalize the economy by helping the private sector lead the way,” President Yoon said at an event Friday. “In the second half, the government will strive to resolve social polarization to offer people a hope for the future.” Yoon also said that the government will open a “new era for the middle class” by injecting "fresh energy" into people’s livelihoods and the economy. Yoon’s comments, which directly mention a shift in economic policy, are now interpreted as a sign that the government may pivot to active fiscal spending and push for drawing up a supplementary budget. Some experts view Yoon’s hint at departing from fiscal soundness as inevitable considering the worsening economic conditions that are feared to undercut the growth prospect of Asia’s fourth-biggest economy. The construction sector, which is an important indicator of economic activity in Korea, has been mired in a protracted slump. Private spending is also sluggish, reflecting consumers' willingness to cut costs at a time when the economy continues to slow. Equally worrisome is the disheartening outlook that the country’s exports could stagnate toward the end of the year. Against this backdrop, both the state-run Korea Development Institute and the International Monetary Fund lowered their 2025 growth outlook for Korea to 2 percent. If external conditions like the risks linked to the new trade policy of US President-elect Donald Trump worsen at a faster pace, even a 2 percent expansion could be a rosy projection. Fueling speculation about the policy focus from fiscal soundness to stimulus spending is a comment from the presidential office. On Friday, a senior official at the presidential office said that the government is “not ruling out an active role for fiscal spending, including the possibility of a supplementary budget.” But the official said that the government had no plans to draw up an extra budget early next year Later in the same day, the presidential office told reporters that the government “had not discussed, reviewed or decided on any possibility of an extra budget,” adding that the official’s comment was “a general explanation that state finance should play a role, if necessary.” As a policy shift would be seen as significant, the Finance Ministry also issued a statement that it is not considering an extra budget proposal for next year. However, given that the Yoon administration has rejected the extra budget proposal from opposition parties, citing the importance of fiscal soundness, the comment on a supplementary budget from a senior official at the presidential office signals that a change in fiscal policy is one of the possibilities now being considered among high-ranking policymakers. Maintaining a tight budget is not necessarily an effective policy when multiple factors threaten the overall economy. Expansionary fiscal policy could help prevent the economy from falling into a deeper trap of slump. But critics said holding a discussion about extra budget was premature, if not outright misguided, since the National Assembly is currently reviewing next year’s state budget. Even the ruling People Power Party said that it was “inappropriate to explore possibilities about a supplementary budget at this point.” A bigger question is whether the government has enough room to shift its focus away from fiscal soundness. The government is already expected to see another significant shortfall in tax revenue this year due mainly to weak corporate earnings. As Yoon said, resolving social polarization is important, but policymakers must weigh all options and issues, including the need for a supplementary budget and ways to remove wasteful state spending programs.
Aadi Enters into Exclusive License for Three-Asset ADC Portfolio Developed through a Collaboration between WuXi Biologics and HANGZHOU DAC Aadi Enters Agreement to Sell FYARRO ® and Associated Infrastructure to KAKEN Pharmaceutical for $100M ; Announces PIPE Financing of $100M Cumulative Capital Expected to Fund Operations into Late 2028, Including Anticipated Clinical Data for the ADC Portfolio Co-Founder and Former CEO of ProfoundBio, Baiteng Zhao, Appointed to Aadi Board of Directors Aadi to Hold Webcast and Conference Call on December 20 at 8:00 AM EST LOS ANGELES , Dec. 19, 2024 /PRNewswire/ -- Aadi Bioscience, Inc. (NASDAQ: AADI) today announced it has entered into an exclusive license agreement for development and global commercialization of a three-asset portfolio of preclinical, next-wave antibody-drug conjugates (ADCs), in collaboration with WuXi Biologics (2269.HK), a leading global Contract Research, Development and Manufacturing Organization (CRDMO), and HANGZHOU DAC BIOTECHNOLOGY CO., LTD. ( HANGZHOU DAC), a global leader in ADC innovation. Per the terms of the license agreement, Aadi is granted exclusive rights to certain patents and know-how pertaining to three preclinical ADC programs leveraging HANGZHOU DAC's CPT113 linker payload technology targeting each of Protein Tyrosine Kinase 7 (PTK7), Mucin-16 (MUC16) and Seizure Related 6 Homolog (SEZ6). Aadi will pay aggregate upfront payments of $44 million for in-licensing such ADC programs. Additionally, Aadi is obligated to pay cumulative development milestone payments of up to $265 million , cumulative commercial milestone payments of up to $540 million and single-digit royalties of sales. To support this transaction, Aadi entered into a subscription agreement with certain qualified institutional buyers and accredited investors for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds of approximately $100 million , before deducting placement agent fees and other offering expenses. The Company is selling an aggregate of 21,592,000 shares of its common stock ("Common Stock") at a price of $2.40 per share, representing a premium of approximately 3.4% to the closing price on December 19, 2024 on Nasdaq, and pre-funded warrants ("Pre-Funded Warrants") to purchase up to an aggregate of 20,076,500 shares of Common Stock at a purchase price of $2.3999 per Pre-Funded Warrant share. The syndicate was led by Ally Bridge Group, with participation from new investors OrbiMed, Invus, Kalehua Capital and other accredited investors, Tae Han co-founder of ProfoundBio, as well as existing investors, including Avoro Capital, KVP Capital and Acuta Capital Partners. The PIPE financing is expected to close in the first half of 2025, subject to stockholder vote and satisfaction of customary closing conditions. "I'm thrilled to announce our partnership with WuXi Biologics and HANGZHOU DAC to bring forward this thoughtfully selected ADC portfolio. We were deliberate in identifying broadly expressed tumor targets where first-generation ADCs have already shown proof of concept. With our next wave ADC portfolio, we aim to build upon these earlier therapies to deliver improved outcomes for people living with cancer," said David Lennon , PhD, President and CEO of Aadi Bioscience. "The financing underscores the confidence our investors have in both the potential of this portfolio and the strength of Aadi's management team." About the ADC Portfolio Each of the three ADC assets utilizes HANGZHOU DAC's CPT113 ADC platform, which consists of a highly stable yet cleavable linker that delivers a Topoisomerase I (TOPO1) inhibitor payload. The CPT113 platform's linker stability and novel payload has the potential to be highly competitive among the next generation ADC platforms. To effectively leverage the CPT113 platform, Aadi selected tumor targets that are upregulated in high-potential cancer indications and where clinical efficacy has been demonstrated by first-generation ADCs. These assets were discovered through the collaborative efforts of WuXi Biologics and HANGZHOU DAC, utilizing the innovative antibody discovery platform provided by WuXi Biologics and advanced linker-payload technology provided by HANGZHOU DAC. "Leveraging our advanced antibody discovery service, we're glad to enable Aadi to accelerate the discovery of precision therapies targeting some of the most challenging cancers," said Dr. Chris Chen , CEO of WuXi Biologics. "This collaboration underscores our wide recognition as an industry leader in discovery service solutions, and further validates our ability to provide integrated discovery technology platforms for global partners to develop next-generation modalities. We look forward to partnering with Aadi and HANGZHOU DAC to expeditiously move these assets forward into clinical development and benefit patients worldwide." " HANGZHOU DAC's CPT-ADC platform is designed to enable next wave ADC capabilities that surpass first-generation technologies, including two programs already in clinical development in China ," said Dr. Robert Y. Zhao , President and CEO of HANGZHOU DAC Biotechnology. "As a global leader in ADC innovation, we are excited to partner with Aadi and WuXi Biologics to deliver this promising portfolio to patients." Aadi to Sell FYARRO for $100 Million , Cumulative Capital Expected to Fund Operations into Late 2028 In a separate agreement, KAKEN Pharmaceutical Co., Ltd., an R&D driven pharmaceutical company in Japan , has entered into a stock purchase agreement under which KAKEN will acquire Aadi Subsidiary, Inc. and all of its assets, including FYARRO ® (sirolimus protein-bound particles for injectable suspension) (albumin-bound) and associated infrastructure, including the majority of Aadi employees who support the FYARRO ® business. FYARRO is approved by the U.S. Food and Drug Administration (FDA) for the treatment of adult patients with locally advanced unresectable or metastatic malignant perivascular epithelioid cell tumor (PEComa), with cumulative revenue of $25.2 million reported over the prior four quarters ended September 30, 2024 . Per the terms of the agreement, Kaken will pay Aadi $100 million in cash at closing, subject to certain adjustments. The transaction is expected to close in the first half of 2025, subject to Aadi stockholder approval and certain closing conditions. Upon the closing of this transaction, KAKEN will also acquire the rights to the Aadi name and trademark. "We are enormously proud of the impact FYARRO has had for people with PEComa, and Kaken's capabilities, coupled with the proven track record of the Aadi team, ensures physicians and patients will continue to have access to this critical treatment," said Lennon. The net proceeds from the PIPE financing and the sale of FYARRO, together with the Company's existing cash, cash equivalents and marketable securities are expected to fund operations into late-2028, including anticipated clinical data readouts for the ADC portfolio. Baiteng Zhao Appointed to the Board of Directors, Brings Significant ADC Expertise Baiteng Zhao, PhD, joins Aadi's board of directors. Zhao co-founded ProfoundBio, a clinical stage next-gen ADC developer, in 2018 and served as the Chairman and CEO of the company until it was acquired by Genmab for $1.8 billion in May 2024 . Prior to ProfoundBio, Dr. Zhao worked at Seagen (now part of Pfizer) for more than eight years and was responsible for the modeling and simulation strategies for the development pipeline and supported preclinical and clinical development of ADC drug candidates. "We are delighted to welcome Baiteng to our Board. His deep expertise and successful track record in ADC development will be instrumental as we tenaciously move this exciting portfolio forward," said Caley Castelein , MD, Chair of the Board of Directors of Aadi Bioscience. "I am thrilled to join the Board at this pivotal moment for Aadi," said Baiteng Zhao, PhD, Board of Directors of Aadi Bioscience and co-founder of ProfoundBio. "PTK7, MUC16 and SEZ6 represent highly promising targets that are commonly overexpressed in cancers with significant unmet therapeutic needs. Coupled with an advanced linker-payload platform that has the potential to enable next-gen ADCs, I believe Aadi is uniquely positioned to make a meaningful impact on patient outcomes. I look forward to collaborating with the leadership team and fellow Board directors to advance these innovative programs and drive transformative progress for patients." Advisors Leerink Partners is serving as financial advisor to Aadi on the sale of FYARRO and the licensing of the ADC portfolio. Jefferies LLC is acting as exclusive placement agent for the PIPE financing. Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal counsel to Aadi. McDermott Will & Emery LLP is serving as legal counsel to Kaken. Cooley LLP is serving as legal counsel to Jefferies LLC. Nomura Securities Co., Ltd. is serving as financial advisor to KAKEN. Conference Call Information The Aadi management team is hosting a conference call and webcast tomorrow, Friday, December 20 th at 8:00 AM EST ( 5:00 AM PST ) to discuss these updates. Participants may access a live webcast of the call and the associated slide presentation on these data through the "Investors & News" page of the Aadi Bioscience website at aadibio.com . To participate via telephone, please register in advance at this link . Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the Company's website for at least 30 days. Additional Information for Stockholders This communication relates to the proposed sale of FYARRO and the proposed PIPE financing and may be deemed to be solicitation material in respect of such transactions. In connection with these proposed transactions, Aadi will file a Proxy Statement with the SEC. This communication is not a substitute for the Proxy Statement or any other documents that Aadi may file with the SEC or send to Aadi stockholders in connection with the proposed transactions. Before making any voting decision, investors and securityholders are urged to read the Proxy Statement and all other relevant documents filed or that will be filed with the SEC in connection with the proposed transactions as they become available because they will contain important information about the proposed transactions and related matters. Stockholders may obtain a copy of the Proxy Statement and other documents the Company files with the SEC (when they are available) through the website maintained by the SEC at www.sec.gov , as well as on the Investor and News section of Aadi's website at www.aadibio.com . Certain stockholders of Aadi holding approximately 36% of Aadi's outstanding shares, as of the date hereof, including members of its board of directors and related entities, have entered into voting and support agreements in favor of KAKEN Pharmaceutical and Aadi, pursuant to which such stockholders have agreed to vote in favor of the stock purchase transaction with KAKEN Pharmaceutical and the other transactions described above. Participants in the Solicitation Aadi and its respective directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Aadi in connection with the proposed transactions. Information about Aadi's directors and executive officers is set forth in Aadi's definitive proxy statement filed with the SEC on April 26, 2024 , and in subsequent filings made by Aadi with the SEC. Other information regarding the interests of such individuals, as well as information regarding Aadi's directors and executive officers and other persons who may be deemed participants in the proposed transactions, will be set forth in the Proxy Statement and other relevant materials to be filed with the SEC when they become available. You may obtain free copies of these documents as described in the preceding paragraph. No Offer or Solicitation This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities nor a solicitation of any vote or approval with respect to the proposed transactions or otherwise, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The offer and sale of securities of Aadi described above are being made in a transaction not involving a public offering and the securities have not been registered under the Securities Act of 1933, as amended, and may not be reoffered or resold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements. Concurrently with the execution of the subscription agreement, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file, following the closing of the PIPE financing, a registration statement with the SEC registering the resale of the shares of Common Stock and the shares of Common Stock underlying the Pre-Funded Warrants sold in the PIPE financing. About Aadi Bioscience Aadi is a precision oncology company with a vision to make bold choices in applying technology to efficiently deliver improved precision oncology therapies for people living with difficult-to-treat cancers. More information on the Company is available on the Aadi website at www.aadibio.com and connect with us on LinkedIn. Forward-Looking Statements This press release contains certain forward-looking statements regarding the business of Aadi Bioscience that are not a description of historical facts within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are based on the Company's current beliefs and expectations and may include, but are not limited to, statements relating to: the timing and completion of the proposed sale of FYARRO to Kaken Pharmaceuticals and the anticipated timing of the closing of the transaction; expectations regarding the timing, closing and completion of the PIPE financing; Aadi's expected cash position at the closing and cash runway of the company following the sale of FYARRO and PIPE financing; the future operations of Aadi; the development and potential benefits of any of Aadi's product candidates, including the preclinical ADC assets proposed to be licensed from WuXi; anticipated preclinical and clinical development activities and related timelines, including the expected timing for announcement of data and other preclinical and clinical results and potential submission of IND filings for one or more product candidates; and other statements that are not historical fact. Actual results could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks associated with (i) the risk that the conditions to the closing of the proposed sale of FYARRO or the PIPE financing are not satisfied, including the failure to timely obtain stockholder approval for the transactions, if at all; (ii) uncertainties as to the timing of the consummation of the proposed transactions and the ability of each of Kaken and Aadi to consummate the proposed sale of FYARRO; (iii) risks related to Aadi's ability to manage its operating expenses and its expenses associated with the proposed transactions pending the closing; (iv) risks related to the failure or delay in obtaining required approvals from any governmental or quasi-governmental entity necessary to consummate the proposed transactions; (v) unexpected costs, charges or expenses resulting from the transactions; (vii) potential adverse reactions or changes to business relationships resulting from the announcement or completion of the proposed sale of FYARRO or the proposed PIPE financing; (vii) the uncertainties associated with Aadi's product candidates, as well as risks associated with the preclinical and clinical development and regulatory approval of product candidates, including potential delays in the completion of preclinical studies and clinical trials; (viii) risks related to the inability of Aadi to obtain sufficient additional capital to continue to advance these product candidates; (ix) uncertainties in obtaining successful preclinical and clinical results for product candidates and unexpected costs that may result therefrom; (x) risks related to the failure to realize any value from product candidates being developed and anticipated to be developed in light of inherent risks and difficulties involved in successfully bringing product candidates to market; and (xi) risks associated with the possible failure to realize certain anticipated benefits of the proposed sale of FYARRO or the proposed PIPE financing, including with respect to future financial and operating results. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2023 , including under the caption "Item 1A. Risk Factors," and in Aadi's subsequent Quarterly Reports on Form 10-Q, and elsewhere in Aadi's reports and other documents that Aadi has filed, or will file, with the SEC from time to time and available at www.sec.gov . All forward-looking statements in this press release are current only as of the date hereof and, except as required by applicable law, Aadi undertakes no obligation to revise or update any forward-looking statement, or to make any other forward-looking statements, whether as a result of new information, future events or otherwise. All forward-looking statements are qualified in their entirety by this cautionary statement. This cautionary statement is made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Contact: IR@aadibio.com View original content to download multimedia: https://www.prnewswire.com/news-releases/aadi-bioscience-transforms-with-in-licensing-of-novel-adc-portfolio-100-million-sale-of-fyarro-and-100-million-pipe-financing-302336743.html SOURCE Aadi BioscienceMicrosoft has logged some new known issues with Windows 11 24H2 and thrown up more safeguard holds until the problems are resolved. The latest glitches noted in Microsoft's Windows Release Health Dashboard are related to audio and gaming. The audio issue was reported by users who upgraded to Microsoft's latest and greatest but found that their device's integrated speakers, Bluetooth speakers, and Bluetooth headsets stopped working and disappeared as far as both first and third-party applications were concerned. The problem is confined to some devices containing Dirac Audio, a technology designed to enhance digital audio. The software component cridspapo.dll is the culprit, and Microsoft said an updated manufacturer driver was required. Until the release of that driver, Microsoft has slapped a compatibility safeguard hold on affected devices, meaning that Windows 11 24H2 will not be offered via Windows Update. The company did not name names, only saying "a limited set of devices from one manufacturer" would be the subject of the hold. This is helpful for users with affected devices that have yet to perform the upgrade. It is, however, not so useful for users wondering why their world has suddenly gone silent. The hold will be lifted once the driver has been released. Gamers using Auto HDR are not so lucky . A compatibility safeguard hold has been put on devices with the technology enabled after users complained about incorrect colors and games ceasing to respond. Auto HDR (high dynamic range) increases the color range and brightness in games. Enabling it, according to Microsoft, "enhances gaming experience by automatically converting standard dynamic range (SDR) content to high dynamic range (HDR)." It's a neat bit of technology that can enhance the look of some games. However, in Windows 11 24H2, it can also leave games unplayable for affected users. For the time being, Microsoft's solution is to turn off Auto HDR. This will allow Windows 11 24H2 to be installed or stop the issues if the update is already present. In the longer term, Microsoft said: "We are working on a resolution and will provide more information when it is available." ®
TAMPA, Fla. (AP) — Bucky Irving isn’t choosy. The rookie running back relishes any opportunity he gets to contribute to the success of the Tampa Bay Buccaneers, who have to climb back into a tie for first place in the NFC South. Irving leads NFL rookies in rushing with 732 yards, averaging 5.5 yards per carry while sharing the workload with starter Rachaad White and third-stringer Sean Tucker, who have combined to ease some of the burden on quarterback Baker Mayfield. A fourth-round draft pick out of Oregon, Irving is coming off rushing for a season-best 152 yards and a touchdown in last week’s 26-23 overtime win over the Carolina Panthers. He had another 33 yards receiving, giving him a rookie-leading 1,017 total yards from scrimmage through 12 games. The Bucs (6-6) on Sunday host the Las Vegas Raiders (2-10), who have an outstanding newcomer of their own with Brock Bowers on the verge of breaking the league's record for catches by a rookie tight end. Bowers leads all players, regardless of position, with 84 receptions. He's fourth with 884 yards receiving and second behind Irving among rookies with 895 total yards from scrimmage. “I don’t really like taking all the credit. It’s those guys up front,” Irving said, deferring to Tampa Bay’s improved offensive line. “I think I have to do something special for those guys for Christmas because they’re getting the job done.” The Bucs are eighth in the NFL in rushing at 137.2 yards per game. They’ve gained 100-plus yards on the ground in nine of 12 games after only doing it nine times in 34 games over the past two seasons. Irving, whose ability to make defenders miss and accelerate in the open field, has provided a spark to an offense that sputtered without injured wide receivers Mike Evans and Chris Godwin during a four-game losing streak. It doesn’t seem to bother the rookie that he still sits behind White on the depth chart. The starter had a 38-yard run in overtime to set up the winning field goal last week. Coach Todd Bowles continues to stress that the Bucs, tied with Atlanta for the NFC South lead, need both Irving and White to be successful. “In our room, all our success is one,” said Irving, who in the past two weeks became the first rookie since Miles Sanders in 2019 to string together consecutive games with 150-plus yards from scrimmage. “If I’m having success,’’ Irving added, “everybody in the room is having success.” Tampa Bay’s porous secondary figures to be tested by Bowers, the first tight end to lead the league in catches after Week 13 since Todd Christenson in 1986. The first-round draft pick out of Georgia needs three receptions to break Sam LaPorta’s season record (86 in 2023) for catches by a tight end. He’s 116 yards away from joining Mike Ditka (1,076 in 1961) and Kyle Pitts (1,026 in 2021) as the only rookie tight ends to finish with 1,000-plus yards receiving. “I thought he was one of the best tight ends coming out in a long time – not just this draft, but in a long time,” Bowles said. “He’s living up to expectations. He can play wideout, he can play tight end, he can do some fullback, he can run jet sweeps,” the Bucs coach added. “They do a lot of things with him and he’s a very talented guy.” The last time the Raiders went against Mayfield was two seasons ago when he came off a plane to play for the Los Angeles Rams. Despite having minimal time with the playbook and just one brief practice, Mayfield rallied the Rams to a 17-16 victory on a 23-yard touchdown pass with 10 seconds left. Raiders coach Antonio Pierce was the team’s linebackers coach at the time. “He plays the game kind of like Brett Favre, who I played against in (the) league,” Pierce said. “He’s very fiery. He’ll do whatever it takes to make a play. The play’s never dead with him. You’ve got to keep your eyes on him and then stay in coverage, so that’ll be a challenge.” Raiders quarterback Aidan O’Connell didn’t look as though he had missed nearly six weeks because of a broken thumb when he almost led Las Vegas to a victory at Kansas City last week. He completed 23 of 35 passes for 340 yards and two touchdowns in the Raiders’ 19-17 loss to the Chiefs. But O’Connell had a hard time looking at the positives given how close the Raiders came to beating the two-time defending Super Bowl champions. “Definitely some good plays, but it just stinks more than anything,” O’Connell said. “It was just a really hard loss. Even sometimes when you have a game right after, it’s easier to move on. But we had a longer week this week and so kind of really got to sit in it and it’s no fun.” AP Sports Writer Mark Anderson in Las Vegas contributed to this report. NFL:
NEW YORK , Dec. 5, 2024 /PRNewswire/ -- The Board of Directors of Omnicom (NYSE: OMC) declared a quarterly dividend of 70 cents per outstanding share of the corporation's common stock. The dividend is payable on January 10, 2025 to Omnicom common shareholders of record at the close of business on December 20, 2024. About Omnicom Omnicom (NYSE: OMC) is a leading provider of data-inspired, creative marketing and sales solutions. Omnicom's iconic agency brands are home to the industry's most innovative communications specialists who are focused on driving intelligent business outcomes for their clients. The company offers a wide range of services in advertising, strategic media planning and buying, precision marketing, retail and digital commerce, branding, experiential, public relations, healthcare marketing and other specialty marketing services to over 5,000 clients in more than 70 countries. For more information, visit www.omnicomgroup.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/omnicom-declares-dividend-302324450.html SOURCE Omnicom Group Inc.
IIT Madras students win hackathon on eradicating tuberculosis stigma
New Orleans (4-8) at New York Giants (2-10) Sunday, 1 p.m. EST, Fox Javascript is required for you to be able to read premium content. Please enable it in your browser settings.Click Camera App Announces New Photojournalism Fellowship As App Reaches 50,000 Users Signing 1,000+ Authenticated Photos DailyCAIRO The D-8 Organization for Economic Cooperation, with eight developing Muslim-majority nations, announced support for expanding membership Thursday and revealed Indonesia as the host for the 2025 summit. The announcements were part of the Cairo Declaration issued at the conclusion of the summit in the Egyptian capital, according to Egypt’s official news agency. The D-8, established to bolster economic collaboration, includes Türkiye, Egypt, Nigeria, Pakistan, Iran, Indonesia, Malaysia and Bangladesh. The leaders and delegations of member nations voiced unanimous support for Azerbaijan's acceptance as a full member. It expressed opposition to unilateral economic sanctions imposed on member states, describing the measures as threats to global economic stability and violations of international law. Member states called for the immediate lifting of the sanctions. The leaders emphasized their shared commitment to peace, sustainable development and building a more inclusive future based on mutual respect and cooperation. They pledged to advance common development goals that are guided by principles of fraternity, justice, equality, democracy and the rule of law. The declaration outlined priority areas for collaboration, including agriculture, food security, energy, science and technology, industry, small- and medium-enterprise development, infrastructure, trade, investment and transportation. The initiatives aim to promote equitable and inclusive growth across member states. Indonesia was formally welcomed as the next chair of the organization, with leaders commending its offer to host the 12th summit. The date and location for the meeting will be announced later. The summit, chaired by Egyptian President Abdel Fattah al-Sisi, included a special session on Palestine and Lebanon. Palestinian President Mahmoud Abbas and Lebanese Prime Minister Najib Mikati participated in discussions. Key attendees also included Turkish President Recep Tayyip Erdogan and Iranian President Masoud Pezeshkian, who made the first visit to the northern African country by an Iranian president in 11 years. The D-8 was established to enhance the role of developing nations in the global economy, strengthen trade relations and ensure better representation in international decision-making to improve living standards worldwide. *Writing by Mohammad Sio
Shouting match erupts as lawmakers grill acting Secret Service directorOSAKA, Japan and MONTREAL , Dec. 5, 2024 /PRNewswire/ -- Ono Pharmaceutical Co., Ltd. (Headquarters: Osaka, Japan ; President: Toichi Takino; "Ono") announced that it has entered into a drug discovery collaboration agreement with Congruence Therapeutics (Headquarters: Montreal, Quebec, Canada ; CEO: Clarissa Desjardins; "Congruence") to generate novel small molecule correctors against multiple protein targets in the oncology area by leveraging Congruence's proprietary drug discovery platform, RevenirTM. Under the terms of the agreement, Congruence will generate small molecule correctors by leveraging Congruence's proprietary drug discovery engine called, RevenirTM. Ono will obtain an exclusive option right to develop, manufacture and commercialize the identified small molecule correctors worldwide. Congruence will be eligible to receive an upfront payment, research expenses, milestone payments based on research and development progress and sales, as well as tiered royalties based on net sales. "We believe that this collaboration with Congruence may help generating novel small molecule correctors for validated targets in the oncology area by leveraging their own technologies in protein dynamics and computational biology, leading to our development pipeline," said Seishi Katsumata , Corporate Officer / Executive Director, Discovery & Research of Ono. "We will be committed to delivering innovative new drugs to cancer patients as soon as possible." "Congruence is thrilled to partner with Ono, which has established itself as a global leader in drug development, particularly in the oncology space. We believe that our RevenirTM platform and capabilities in protein dynamics will accelerate the discovery of novel therapies for compelling targets of interest to both companies," said Sharath Hegde PhD, Chief Scientific Officer of Congruence. About RevenirTM Drug Discovery Platform RevenirTM, Congruence's proprietary computational drug discovery platform, captures the dynamic biophysical changes caused by mutations in proteins, offering unique insights into protein defects and their correction. By examining surface features and a spectrum of biophysical descriptors across an ensemble of protein conformers, RevenirTM predicts small molecule induced correction of the underlying defect. About Congruence Therapeutics Congruence is a computationally-driven biotechnology company building a unique pipeline of transformative small molecule correctors rationally designed to rescue aberrant protein function. Congruence's proprietary scalable platform, RevenirTM, captures the biophysical features of proteins across their conformational ensembles, in order to identify novel allosteric and cryptic pockets which are virtually screened to generate novel chemical matter. For more information, please visit www.congruencetx.com . View original content to download multimedia: https://www.prnewswire.com/news-releases/ono-enters-into-drug-discovery-collaboration-agreement-with-congruence-therapeutics-to-generate-novel-small-molecule-correctors-in-the-oncology-area-302324452.html SOURCE Ono Pharmaceutical co., ltd. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.Alex Ovechkin is expected to miss 4 to 6 weeks with a broken left leg
