Fake Fees Masked Franchise Losses at Boston Chicken
Boston Chicken redux. Boston Chicken parent lent money to franchisees; that money then did a U-turn and became fee income to itself. So they effectively transmuted their own capital into income, which of course Wall Street loved, until it turned out a year or two down the road that none of the franchises were profitable. All went to zero. Not saying the underlying business here is a zero - far from it. But the accounting risks are the same, and much of the near-term revenue flow is fake.
Illegalizing Ransom Payments Would Protect Future Victims
We would all have been much better off if we had made paying a ransom to ransomware criminals illegal. Tough for the first few victims, but then better for all.
Public AI Benchmarks Are Useless; Need Private, Impartial Tests
Basically public benchmarks at this point are meaningless - like giving exams with the answer sheets on the back. Need impartial institutions that keep the benchmarks private and release only some sample questions and the scores. And need to keep...
Biotech Edge: XBI Up 0.9% Amid Market Slump
With today's notable strength in biotech, I note that the XBI was actually marginally positive for the month (0.9%) - seems to be the only sector outside energy that was positive for the month. There have been a modest but...
Can You Deduct Getaway Car and Driver Costs?
But can you deduct the cost of the getaway car and driver from the fair value of the stolen property? And is the getaway driver really an independent contractor? So many questions. 😀
Prediction Claims 100% Success for MLTX in Psoriatic Arthritis
Really interesting. One of their predictions is 100% success chance for $MLTX in psoriatic arthritis.
LQDA's Superior Delivery Threatens UTHR's Orphan Edge
The $UTHR news today is great for IPF patients. But it is also very good news for $LQDA given they have better delivery of the same drug. UTHR has 7-year orphan protection in IPF, but that can be overcome by...
Complacent CEOs Dismiss Rivals, Then Backtrack.
What happens when there is no competitive pressure. (The Rheinmetall story is their CEO disparaged Ukrainian drone development - "how to play with Legos" and "Ukrainian housewives with 3D printers" - he subsequently apologized).
Ukrainian Strikes Hit Two Major Russian Oil Ports
Add the very recent Ukrainian attacks on two major Russian oil ports to the mix.
Fertilizer Shortage Triggers Crop Switch, Exposes Biofuel Policy Flaws
Given the nitrogen fertilizer shortages leading to more corn to soybean planting switches, I'll bet the eventual cost of the biofuel mandates is more than this. An idiotic policy.
Consider Extending Your Long VIX Position
Well worth a read. I've been long VIX for a few weeks now - but maybe not enough.
Apple Watch Accurately Tracks Sleep Apnea, Matches CPAP Data
I'd remind everyone that the Apple watch sleep apnea measurement is an absolute triumph of engineering - it matches very closely what I see from the data on my CPAP machine. (The watch, unlike the machine, scores some events with...
Centenarians Show High Apoptosis, Low IGF‑1 Signaling
Interesting paper - looks at what's high and what's low in centenarians vs others. Of course this doesn't reveal what's causal vs simply a biomarker. High apoptosis signals, low IGF-1 pathways.
California Batteries Power Significant Evening Electricity Supply
Batteries (purple) in CA already a significant part of the electricity supply in the evenings. And even a little in the early morning. https://t.co/zBs7Yb51Qy https://t.co/h8vRfr4sXx
Thin Legs Strongly Predict Higher Mortality Risk
There is a similar study for thigh circumference - turns out that thin legs are one of the best predictors of mortality. https://t.co/v6H3jYNXrY https://t.co/PkaQPvyrpX https://t.co/0cOR1L7ZnM
YC Proves Its Worth in Biotech Startups
Interesting collection of YCombinator biotech startups this batch. I had been skeptical that YC could work at all in biotech, but I've been proven wrong over the last couple of years.
FDA Must Add Spot Checks for Generic Drugs
Read “Bottle of Lies.” FDA needs to perform spot checks of generics - not just inspections.
Higher GLP‑1 Doses Show Cardiac Safety Signal
This definitely looks like a cardiac safety signal at the higher doses. The GLP-1's all slightly increase pulse rate as a starting point.
US Smoking Rates Dip Below 10% for First Time
Cigarette smoking in the US falls below 10% of the population for the first time. https://t.co/JReSJgZA85
Low‑level Cell‑phone Radiation Could Boost Health
Hormesis in action if this study proves correct - a little bit of cell phone radiation may be good for you.
Drug Patents: Near-Term Generic Threat, Mid-Term Safeguards, Tirzepat
AI: Short-Term Cliffs (0-3 years remaining): Drugs like sacubitril/valsartan, dapagliflozin, pembrolizumab, ocrelizumab, daratumumab, and apixaban face imminent generic/biosimilar pressure Mid-Term Protection (4-7 years): Risankizumab and dupilumab have solid runway, supported by ongoing label expansions. Long-Term (8+ years): Tirzepatide's robust patents position it...
Subq Inventory Expense Shifts Income, Potentially Doubles TAM
Note for $TGTX, this year has $100m in expenses building inventory for Subq - from a theoretical accounting perspective should really be capitalized (and then written-off if failed or amortized in year of sale), but in actuality gets deducted from...
IL11 Deficiency Causes Female Infertility, Low Weight, Osteoporosis
But note IL11 knockout mice are infertile (females) and have low body weight and some osteoporosis. Still interesting angle though.
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Given 1mg/week of Zepound showed 0.7% reduction in A1c in trials, and so is actually an efficacious dose, this microdose would just be $30/month. (Would imply using for longer than recommended after opening).
Vevye Rapidly Narrows Gap to Miebo Despite Head Start
So the key here is look at how quickly $HROW's Vevye is catching up with $BLCO's Miebo - this is happening despite the Miebo head start (which provides a waterfall effect from refills) and way more extensive detailing and DTC...
Novavax Targets S1 and S2 for Broader Protection
Novavax (unlike the mRNA vaccines) generates antibodies to both S1 and S2 units of the spike protein - explaining why it provides somewhat broader protection. I've personally gotten Novavax every time it was available at vaccine time.
Study Lacks Equipoise: Control Babies Likely Infected
The key point here is that the proposed study would not have equipoise because almost certainly some babies in the control arm would get hepatitis from their infected mother.
