Aftermath Silver Ltd (TSX-V:AAG, OTCQX:AAGFF, FRA:FLM1) announced that it has started drilling at the eastern edge of its Berenguela project in Peru to test for high-grade copper mineralization beyond the current mineral resource estimate, while also launching a drill program at its Challacollo silver-gold project in northern Chile.
The company said the Berenguela program will initially include up to 1,000 metres of core drilling targeting an eastern copper zone, following previous drill results that intersected high-grade copper and silver mineralization. The program may be expanded depending on results.
Shares of Aftermath gained 6.2% in Toronto on Wednesday morning.
Aftermath Silver CEO Ralph Rushton said the company is investigating the potential for additional high-grade copper mineralization outside the current resource area after encouraging drilling results from 2024 and 2025.
"Our previous drilling in 2024/2025 on the eastern margins of the MRE was extremely positive and with the copper spot price close to its all-time high I look forward to reporting on the results of the drilling later this year," Rushton said in a statement.
At the Challacollo project in Chile's Region I, Aftermath has begun an initial five-hole, approximately 800-metre diamond drilling program aimed at expanding the existing silver-gold resource and testing additional exploration targets.
The company said the program will target extensions of known veins, previously identified but untested veins, and selected reverse circulation holes to gather additional geological and metallurgical information. Drilling will focus on the Lolón North, Lucy North and Palermo North target areas.
Rushton said the Challacollo campaign is intended to increase the company's exposure to silver alongside its flagship Berenguela project. "Our objective at Challacollo is to expand and increase the mineral resource and this is the first step toward that goal," he said.
According to a 2020 NI 43-101 technical report, the Challacollo project hosts indicated mineral resources of 6.64 million tonnes containing 35.15 million ounces of silver and 58,000 ounces of gold, along with inferred resources of 2.8 million tonnes containing 11.14 million ounces of silver and 15,000 ounces of gold.
Varon Corp (OTCID:OZSC) announced that Ballislife Drink Inc, its joint venture with Varon USA and Ballislife Inc, has signed a multi-year exclusive deal giving an Alberta-based company that controls Shoot 360 Canada distribution rights across the country.
The agreement supports the nationwide rollout of Ballislife HYDRO Sports Drink in Canada and begins with an opening purchase order valued at approximately C$100,000, representing nearly 65,000 cans.
It includes progressively increasing annual minimum purchase commitments aggregating to C$13.75 million over its initial five-year term.
Shoot 360 describes itself as the world's leading immersive basketball training experience, combining in-person player development with technology, digital gamification and virtual competition. Its network includes more than 50 locations worldwide and provides coaching and data-driven training for basketball players of varying ages and skill levels.
Ballislife Drink will retain certain strategic distribution rights under the agreement, giving the company flexibility to pursue select opportunities while its new partner leads the broader national rollout.
Although Ballislife HYDRO's commercial launch has initially focused on the US, the opportunity originated through inbound interest from the team behind Shoot 360's Canadian expansion.
The company said the combination of Ballislife's audience and cultural influence with Shoot 360's player-development network creates a differentiated foundation for introducing HYDRO to Canadian consumers and retailers.
"Ballislife has built one of the most recognizable and influential brands in basketball, and we saw an opportunity to introduce HYDRO to a market where that brand already resonates," said Fadi Smaidi, who is leading Shoot 360's expansion in Canada.
"Shoot 360 is built around helping athletes improve through coaching, technology and community, while Ballislife has become an important voice within basketball culture. We believe HYDRO fits naturally within that environment and has significant potential with Canadian players, families, fans and retailers."
Benjamin Schubert, CEO of Varon Corp (OTCID:OZSC), said the agreement was “particularly meaningful” given its origination.
"Ballislife HYDRO had not yet formally launched in Canada, but the strength of the Ballislife platform had already created interest from an organization deeply connected to the country's basketball community. We believe that speaks to the recognition Ballislife has built beyond the United States and the momentum HYDRO is beginning to generate."
The deal delivers immediate revenue from the initial order, Varon president and CFO Lior Srulovicz noted.
"For an emerging consumer brand, an important milestone is converting recognition and consumer interest into contracted commercial growth," Srulovicz said. "This agreement provides immediate revenue through the initial purchase order while establishing a framework for significant expansion over the coming years. More broadly, it validates the ecosystem we are building around Ballislife HYDRO."
OZOP and Varon Corp (OTCID:OZSC) are working through standard steps ahead of closing the previously disclosed transaction between the two companies.
Shares of OZOP gained nearly 20% at the opening bell on Wednesday.
Jefferies believes detailed data on AstraZeneca PLC's (LSE:AZN, NASDAQ:AZN) experimental lung drug tozorakimab could more than compensate investors for the recent failure of a separate heart trial.
The bank has reiterated its buy rating and 17,500p price target, implying 41% upside from the current 12,380p, and flagged the 8 September presentation at the European Respiratory Society congress as the key catalyst.
The collapse of the CARDIO-TTRansform study stripped $4 billion from Jefferies' longer-term forecasts and cut roughly 30 basis points from its estimated growth rate for 2027 to 2030.
Analyst Michael Leuchten argues that loss is recoverable and that the market is underappreciating what tozorakimab could add.
The drug targets IL-33, an inflammatory signalling protein released when lung tissue is damaged by smoke or infection, and would be the first medicine of its kind approved for chronic obstructive pulmonary disease, a progressive condition that narrows the airways.
Three trials have already reported positive headline results, but the underlying numbers have not been published.
What matters commercially is breadth of label.
Existing biologic treatments such as Sanofi and Regeneron's Dupixent work mainly in patients with high eosinophil counts, a type of white blood cell, which restricts them to somewhere between 10% and 40% of the patient population.
Because IL-33 acts further upstream, tozorakimab could work regardless of eosinophil levels, opening the door to current smokers and patients with low counts who have no approved biologic option.
Jefferies' statistical modelling suggests the drug is likely delivering at least a 30% reduction in flare-ups among former smokers, comfortably competitive with Dupixent, with a signal in other subgroups.
On that basis, the bank puts peak sales at more than $5 billion beyond 2030, against consensus of $2.9 billion for 2032.
It also cautions that AstraZeneca will need more than one drug in the category, with roughly half the rival pipeline of dual-target antibodies originating in China and progressing quickly.
Solis Minerals Ltd (ASX:SLM, TSX-V:SLMN, OTCQB:SLMFF) has kicked off diamond drilling at the Mandacaru Lithium Project in Brazil, targeting a coherent lithium-caesium-tantalum pegmatite system across an approximately 800-metre corridor.
The 10-hole, 2,000-metre program is designed to test the continuity and geometry of the pegmatites, as well as their potential to host spodumene mineralisation at depth.
Solis wholly owns Mandacaru, which lies within the prospective Araçuaí Lithium Valley in Minas Gerais, a major lithium province that hosts established producers and several advanced development projects.
Mandacaru proposed drill-hole collar locations and traces; over geochemistry results (previously released), mapped pegmatites and interpreted geochemistry contours.
Testing a defined lithium target Drilling will focus on zones where lithium, caesium, tantalum and beryllium geochemical anomalies overlap with mapped pegmatite outcrops and historical auger results.
Solis said caesium was a particularly important indicator because elevated values may point to advanced magmatic fractionation, a characteristic commonly associated with spodumene-bearing pegmatite systems.
The company has designed two drilling “fences” to provide coverage across the interpreted pegmatite trend, with individual holes expected to reach depths of about 200 metres.
Drill locations have been selected using geological mapping, soil and rock-chip geochemistry, auger drilling, structural interpretation and high-resolution drone imagery.
Rapid transition from acquisition The start of drilling follows Solis’ completion of transaction documents and payment of consideration for its Brazil Lithium Project, marking a rapid progression from acquisition to drill testing.
“Drilling has commenced at Mandacaru marking a rapid transition from acquisition to drill testing one of the most compelling lithium targets in our portfolio. A combination of LCT anomalies across a defined ~800-metre corridor, supported by mapping and auger drilling, provides a strong technical basis for this program. Shareholders can expect updates as we progress,” Chief executive officer Mitch Thomas said.
Solis noted that Mandacaru displays a geological signature comparable to the Colina Lithium Project, around 100 kilometres to the southwest, which was discovered by members of the management team now leading the company.
Expanding exploration across Brazil and Peru Alongside its Brazilian lithium campaign, Solis is preparing to resume copper exploration in Peru.
The company holds the drill-ready Cinto Copper Project outright and can earn up to 100% of the Cucho Copper Project. Both projects contain surface copper mineralisation and indicators of potential large-scale porphyry systems.
All government approvals required to drill the two Peruvian projects have been received.
Location of deposits with attributable Ore Reserves that are currently being mined or the subject of future development works.
What’s ahead Solis plans to complete the 10-hole Mandacaru program while providing updates as drilling progresses and geological information becomes available.
The board has also approved a 2,500-metre diamond drilling campaign at Cinto, scheduled to begin during the third quarter of 2026 and operate alongside the Brazilian program.
Further updates covering Cinto and progress at Cucho are expected during the quarter.
ACG Metals Ltd (LSE:ACG, OTC:ACGAF), the London-listed gold, silver and copper group operating the Gediktepe operation in Türkiye, beat its full-year oxide production target within the first six months of 2026.
The company produced 18,487 ounces of gold equivalent in the first half, exceeding its full-year oxide target of 17,500 ounces.
The beat came despite a 17% year-on-year drop in output, as ACG worked through stockpiled ore following the completion of oxide mining at the end of 2025.
Surging metal prices did much of the heavy lifting.
ACG's realised gold price rose 64% year-on-year to $4,838 an ounce, while silver jumped 142% to $78.2 an ounce.
The company said the higher prices supported strong revenues during the period.
Costs also climbed, with all-in sustaining costs rising 52% to $1,609 an ounce, driven largely by higher royalties on elevated commodity prices and lower production volumes.
The centrepiece of the update was progress on the Gediktepe Sulphide Expansion Project, which reached 87.2% completion on 30 June.
All major equipment has been delivered to the site, and ACG expects first copper and zinc concentrate production in August.
The company will switch to copper equivalents as its primary reporting metric once copper production begins in the second half.
ACG reiterated full-year guidance of 20,000 to 22,000 tonnes of copper equivalent at all-in sustaining costs of $2.40 to $2.60 a pound.
The company also flagged progress on a proprietary heap-leach recovery process, patented in Türkiye and pending in 35 other countries.
The technique lifted commercial gold recovery to around 85% from 75% previously, while cutting cyanide consumption by roughly 45%.
Net debt stood at $140 million on 30 June, supported by a cash balance of $60 million, including $28 million of restricted cash.
ACG said the majority of project capital expenditure had now been incurred, including payment for substantially all major process equipment and long-lead items.
Chairman and chief executive Artem Volynets said the period reflected solid operational performance and disciplined execution by the operating team.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) has agreed to pay $600 million upfront to secure worldwide rights to a lung cancer pill developed by China's Dizal Pharmaceutical.
The Cambridge-based drugmaker could pay a further $900 million if the treatment hits certain development, regulatory and sales targets.
Dizal will also receive a share of future global sales.
The drug, sold under the brand name Zegfrovy, is a once-daily tablet that treats a common form of lung cancer.
It targets non-small cell lung cancer, which accounts for around 80% to 85% of all lung cancer cases.
Specifically, it is designed for patients whose tumours carry a genetic fault known as an exon 20 insertion mutation, an error in the DNA that helps drive cancer growth.
Such patients have historically had few targeted treatment options.
The pill works by blocking a protein called EGFR, which sits on the surface of cells and can fuel the growth of tumours when it malfunctions.
Zegfrovy is already approved in the United States and China for patients whose cancer has returned after standard chemotherapy.
The deal hands AstraZeneca the rights to sell and further develop the drug everywhere else in the world.
Dave Fredrickson, who runs AstraZeneca's oncology business, said the treatment would give patients with limited options a differentiated oral therapy.
Xiaolin Zhang, chief executive of Dizal, said the larger partner would help bring the drug, discovered by Chinese scientists, to patients globally.
The agreement adds to AstraZeneca's existing stable of lung cancer medicines, which includes its blockbuster tablet Tagrisso.
Dizal recently reported positive results from a late-stage trial testing Zegfrovy as a first treatment for newly diagnosed patients, rather than only after chemotherapy has failed.
Those findings were presented at a major cancer conference and published in the New England Journal of Medicine.
On the strength of that data, applications to expand the drug's approved use have been filed with regulators in both the United States and China.
The transaction is expected to complete in the second half of 2026, subject to regulatory clearance.
AstraZeneca said the deal would not affect its financial guidance for the year.
Lung cancer remains the leading cause of cancer death worldwide, accounting for roughly one in five such deaths.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares fell 9.55% in early trading, wiping £19 billion from the company's valuation, after its Wainua drug failed a closely watched Phase III trial in a form of heart disease.
The drop propelled the stock to the top of the FTSE 100 losers' list.
The CARDIO-TTRansform trial, run with US partner Ionis, tested Wainua in patients with transthyretin-mediated amyloid cardiomyopathy (ATTR-CM), a progressive and often fatal condition in which misfolded protein builds up in the heart.
The study did not meet its primary endpoint of reducing cardiovascular deaths and recurrent cardiovascular events over 140 weeks compared with placebo.
AstraZeneca said adding Wainua to today's standard of care, which included a stabiliser treatment for most patients, provided no statistically significant benefit.
In a prespecified subgroup of patients receiving Wainua on its own, fewer events were observed and the result was nominally significant, though no treatment effect was seen in patients already on stabiliser therapy.
The trial was the largest ever run in ATTR-CM, enrolling 1,432 patients across 130 sites in 20 countries.
Full data will be presented at the European Society of Cardiology Congress in August.
Sharon Barr, head of biopharmaceuticals research and development at AstraZeneca, said that although the trial missed its primary objective, the results support greater scientific understanding of treatment approaches for the hundreds of thousands of patients living with the disease worldwide.
The readout was one of three major Phase III catalysts hanging over the stock in the second half, alongside the SERENA-4 trial of breast cancer drug camizestrant and the AVANZAR lung cancer study of Datroway.
Citi, which has a buy rating on the shares, had modelled peak Wainua sales in ATTR-CM of around $6.2 billion, with a 59% probability of success, making it the highest-conviction of the three readouts.
The bank estimated in May that a failure of CARDIO-TTRansform would knock around 2.8% off its discounted cash flow valuation, equivalent to roughly £5.20 off its £181 fair value estimate.
Notably, Citi argued at the time that the roughly 10% fall in AstraZeneca shares from their pre-results highs already exceeded the combined 7% downside it attributed to the failure of all three trials.
Even in a scenario where all three readouts disappointed, the bank calculated a bear-case valuation of £168, still 23% above where the shares were then trading.
The broker's bull case, assuming success across all three, pointed to a valuation of around £204.
Today's sell-off suggests the market is pricing in a harsher read-across, with investors likely reassessing the risk attached to the remaining SERENA-4 and AVANZAR readouts later this year.
Citi has consistently described AstraZeneca as having the best growth and best pipeline in European pharma, with $46 billion of risk-adjusted peak pipeline sales and ten Phase III readouts due in 2026.
Wainua is already approved in more than 20 countries for the polyneuropathy of hereditary transthyretin-mediated amyloidosis, a separate nerve-damage indication unaffected by today's result.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) has been kept on a 'buy' rating by Citi, which pointed to a run of late-stage drug trial results in the second half of the year as the key driver for the shares.
The Wall Street bank was previewing second-quarter results from the Anglo-Swedish pharmaceuticals group, due on 27 July.
Citi forecasts earnings per share of $2.41 for the quarter, a rise of 11% at constant exchange rates, though around 3% below the market consensus on higher spending.
The bank expects the company to leave its full-year guidance unchanged, having pencilled in low double-digit growth in earnings per share.
Attention on the results call is likely to centre on a series of phase three trial readouts expected in the second half, the final testing stage before regulatory filing.
These include studies of the heart drug Wainua, the cancer treatment Datroway and the breast cancer therapy camizestrant.
Citi sees a favourable balance of risk and reward given investor caution, noting its downside valuation scenario on a trial failure sits about 15% above the current share price.
Its upside scenario on positive data points to a value roughly 40% higher.
The broker also flagged around 8% of combined further upside from two other pipeline prospects.
The first is detailed data on tozorakimab in chronic obstructive pulmonary disease, a lung condition, which could lift Citi's peak sales estimate to $7 billion against a risk-adjusted consensus of $4 billion.
The second is progress on efzimfotase alfa, a treatment for the rare bone disorder hypophosphatasia, where detailed trial data and any filing update could unlock value.
That drug accounts for $3 billion of the bank's $4.4 billion peak sales estimate.
HIVE Digital Technologies Ltd (TSX:HIVE, NASDAQ:HIVE, FRA:YO0, BVC:HIVECO) has announced the pricing of an upsized private offering of $115 million in zero-coupon exchangeable senior notes due 2031, increasing the size of the deal from the previously announced $100 million.
The notes will be issued by HIVE Bermuda 2026 Ltd., a wholly owned subsidiary of HIVE, and are expected to close on June 30, subject to customary conditions. Initial purchasers have also been granted an option to buy up to an additional $15 million of notes within 13 days of issuance.
The notes will not pay regular interest and will mature on July 1, 2031, unless they are earlier exchanged, redeemed, or repurchased. They are exchangeable into cash, HIVE common shares, or a combination of both at the issuer's election. The initial exchange price is approximately $4.83 per share, representing a 27.5% premium to HIVE's Nasdaq closing price of $3.79 on June 25.
HIVE estimates net proceeds from the offering will total about $110 million, or roughly $124.5 million if the additional purchase option is exercised in full.
The company plans to use the funds for general corporate purposes, capital investments, including graphics processing unit (GPU) purchases, and data center development.
In connection with the offering, HIVE entered into cash-settled capped call transactions with certain financial institutions. The capped calls have an initial cap price of $8.53 per share, equal to a 125% premium over the June 25 closing price.
The company said the transactions are intended to reduce potential dilution from future exchanges of the notes and offset certain cash payments that could otherwise be required.
The notes are unsecured obligations of the issuer and are fully guaranteed by HIVE on a senior unsecured basis. Holders will have the right to require the issuer to repurchase their notes for cash on July 1, 2030, and under certain circumstances involving a fundamental change at the company.
The offering is being conducted as a private placement to qualified institutional buyers under Rule 144A of the US Securities Act.
Jefferies has reiterated its 'buy' rating on AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) and named the drugmaker a Franchise Pick, framing an approaching late-stage trial readout as the next major catalyst for the shares.
The broker holds a price target of 18,000p, implying upside of around 30% to the current price.
At the centre of the call is CARDIO-TTRansform, a phase III study of eplontersen, marketed as Wainua, in transthyretin amyloidosis, a progressive condition in which misfolded proteins build up in the heart.
Data is due in the second half of 2026, and Jefferies argues a positive result could de-risk around $5 billion in future sales while adding a low single-digit percentage to its net present value estimate.
The analysts see the trial as well placed to succeed, citing a large patient population and the ability to test the drug both alone and alongside existing stabiliser therapies such as tafamidis.
A favourable outcome would validate eplontersen as a competitive silencing treatment and open the door to combination use, where Jefferies sees the larger long-term prize.
The broker frames the opportunity within a transthyretin amyloidosis market it expects to reach around $18 billion by 2030, driven by earlier diagnosis and a shift towards disease-modifying therapies in a condition that remains widely underdiagnosed.
Jefferies also points to AstraZeneca's broader pipeline, including the amyloid-clearing antibody cliramitug, as evidence of a multi-mechanism franchise rather than a single-product bet.
On the longer-term question of growth beyond 2030, the analysts estimate AstraZeneca must de-risk roughly $12.5 billion of incremental revenue by 2034 to sustain forecast top-line growth of about 3% a year, a target they consider achievable.
The price target places the stock at a premium of around 40% to the European pharmaceuticals sector on 2027 earnings, a valuation Jefferies says is justified.
AstraZeneca PLC (LON: AZN - Get Free Report) has received an average recommendation of "Moderate Buy" from the six brokerages that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among analysts
AstraZeneca PLC (LON: AZN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of £134.71 and traded as high as £140.80. AstraZeneca shares last traded at £140.76, with a volume of 214,151,109 shares traded. Analyst Ratings Changes A number of analysts have
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares rose 3% to 14,230p, placing the drugmaker at the top of the FTSE 100 leaderboard on a subdued Friday session, after its experimental COPD treatment tozorakimab succeeded in two late-stage clinical trials.
The results mark the first positive phase III readout from a programme of more than 20 major data releases AstraZeneca expects to deliver in 2026, each adding weight to the company's ambition to reach $80 billion in annual revenue by 2030.
Tozorakimab met its primary endpoint in both the OBERON and TITANIA trials, reducing the rate of moderate-to-severe exacerbations in patients with chronic obstructive pulmonary disease (COPD), the progressive lung condition that is the third leading cause of death worldwide, affecting nearly 400 million people.
The drug works by blocking interleukin-33 (IL-33), a protein the body releases in response to damage or irritation in the airways.
When IL-33 is activated, it triggers inflammation and contributes to the build-up of excess mucus that makes breathing progressively harder for COPD patients, setting off a damaging cycle of worsening that can lead to hospitalisation or death.
By intercepting IL-33 at source and neutralising both its active and oxidised forms, tozorakimab aims to break that cycle simultaneously at two points: cooling the inflammatory response and clearing the mucus dysfunction that standard inhaled therapies cannot adequately address.
The trials enrolled patients who were still experiencing exacerbations despite being on standard inhaled treatments, a population with significant unmet medical need.
Tozorakimab, administered as a 300mg injection every four weeks on top of existing therapy, reduced exacerbation rates in both former smokers, the primary study population, and in the broader group, including current smokers and patients across all levels of a blood marker called eosinophils, a type of white blood cell often used to categorise COPD patients for treatment.
The drug was described as generally well-tolerated with a favourable safety profile.
Frank Sciurba, professor of pulmonary and critical care medicine at the University of Pittsburgh and chief investigator of the trial programme, said the results suggested meaningful clinical benefit across a broad COPD population, regardless of smoking status or eosinophil levels.
Sharon Barr, AstraZeneca's executive vice president of biopharmaceuticals research and development, described the outcome as a major scientific advancement, noting that tozorakimab is the first IL-33-targeting biologic to demonstrate statistically significant reductions in COPD exacerbations across two replicate phase III trials.
Two further last-stage clinical evaluations of tozorakimab in COPD, PROSPERO and MIRANDA, are ongoing, alongside separate studies in severe viral lower respiratory tract disease and asthma.
Graphene Manufacturing Group Ltd (TSX-V:GMG, OTCQX:GMGMF) announced that it has been certified as a Verified Graphene Producer by the Advanced Carbons Council.
The certification is part of the council’s Verified Graphene Producer program, which involves third-party validation of both the graphene material and its production process.
The process includes on-site inspections of manufacturing facilities and testing through independent laboratories to confirm the material’s origin and characteristics. The program follows established international standards for graphene classification and measurement.
In addition to the certification, the company reported that it has passed a recent ISO 9001:2015 quality audit covering its manufacturing, distribution, and technical support operations. The ISO 9001 standard is widely used to assess quality management systems across industries.
Craig Nicol, GMG’s CEO, said the verification places the company among a limited number of globally recognized graphene producers.
“Verification by the Advanced Carbon Council as one of five currently verified global graphene producers is another proof of the high quality of our graphene and why our graphene products function at such a world leading standard,” Nicol said.
He added that the successful quality system audit demonstrates the company’s ability to translate its materials into commercially viable products.
Jack Perkowski, chairman and non-executive director, described the third-party validation as an important milestone for the company’s operations in advanced materials.
“Congratulations to the team on getting this third-party verification on the graphene and quality management system — a real table stake when it comes to producing carbon nano material products,” Perkowski said.
The certification was also welcomed by the council. Terrance Barkan, executive director of the Advanced Carbons Council, said the program provides independent assurance to stakeholders evaluating graphene suppliers.
“We are proud to count Graphene Manufacturing Group as the newest member of a select group of graphene companies to have passed a rigorous in-person inspection of their facilities and a thorough examination of their graphene material,” Barkan said.
He noted that third-party validation can be a valuable tool for customers and investors when assessing producers.
Tiziana Life Sciences Ltd (NASDAQ:TLSA) unveiled new preclinical data suggesting that its investigational therapy, intranasal foralumab, may offer a novel approach to addressing neuroinflammation associated with aging.
The company highlighted that neuro inflammation is widely recognized as a contributing factor to cognitive decline in age-related neurological conditions.
The study found that nasal delivery of anti-CD3 therapy was able to reverse several key features of brain aging and improve cognitive performance in preclinical models.
Among the primary findings, the therapy appeared to reduce activation of microglia—immune cells in the brain that, when overactive, can drive chronic inflammation. This reduction in neuroinflammation is considered significant, as persistent inflammatory processes have been strongly linked to age-related cognitive decline.
The study also reported increased neurogenesis in the hippocampus, a region of the brain essential for memory and learning. In addition, the treatment was associated with reduced cellular senescence, achieved through the downregulation of inflammatory markers and genes linked to aging.
Howard Weiner, chairman of the company’s Scientific Advisory Board and co-director of the Ann Romney Center for Neurologic Diseases at Brigham and Women’s Hospital, said the findings add to a growing body of evidence supporting the therapy’s mechanism.
“By targeting T cells to influence microglial behavior and promote brain repair mechanisms like neurogenesis, nasal anti-CD3 offers a differentiated, non-invasive approach with potential applications in age related cognitive impairment,” Weiner said.
Tiziana CEO Ivor Elrifi added that the that the results reinforce the proposed mechanism of intranasal foralumab, which involves stimulating regulatory T cells to reduce neuroinflammation.
Tiziana is currently evaluating intranasal foralumab in clinical trials for several neurological conditions, including non-active secondary progressive multiple sclerosis, multiple system atrophy, amyotrophic lateral sclerosis, and Alzheimer’s disease. The company is also expanding its preclinical research into additional applications related to aging.
Shares of Tiziana added 6.8% on Wednesday morning.
New Era Energy & Digital (NASDAQ:NUAI) announced that it has signed a non-binding letter of intent to form a joint venture aimed at developing and financing its Texas Critical Data Centers (TCDC) campus in West Texas.
The proposed partnership would bring together New Era, data center developer Stream Data Centers, and an unnamed institutional investor that would provide equity capital and help arrange project financing.
The collaboration is intended to support the construction of a large-scale data center campus designed for artificial intelligence and high-performance computing workloads.
Under the terms outlined in the letter of intent, New Era is expected to contribute control of the project site and local relationships, while Stream Data Centers would take on responsibilities related to development, leasing, and operations.
The institutional investor would lead financing efforts, which are expected to include a significant portion of debt funding.
New Era said that it plans to remain an active stakeholder in the project by co-investing equity alongside the institutional partner, rather than acting solely as a land provider.
The company said this structure could allow it to generate ongoing revenue through distributions tied to operating cash flow once initial phases of the project become operational.
The project is expected to be structured through a newly formed limited liability company. Governance provisions are anticipated to include protections and rights for New Era as a partner in the venture.
“The fact that Stream and a premier provider of infrastructure capital have chosen to partner with New Era validates both the strategic value of the TCDC campus and the strength of our development strategy and platform,” New Era CEO E. Will Gray II said in a statement.
“This LOI represents an important step in advancing TCDC toward delivery, and we remain focused on progressing toward a definitive agreement with Stream.”
The TCDC campus is planned for a 438-acre site near Odessa, Texas. It is designed as a multi-phase development, with projected capacity exceeding 1 gigawatt over time.
Shares of New Era were up 6.7% on Wednesday morning.
A positive phase three trial result in a hard-to-treat cancer adds fresh momentum to one of AstraZeneca's most important growth drivers.
Liver cancer is one of the most difficult cancers to treat, and for patients whose tumours cannot be surgically removed, options have historically been limited.
That is what makes AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) latest clinical trial result significant.
The FTSE 100 drugmaker has shown that its immunotherapy Imfinzi, used in combination with three other treatments, can meaningfully delay disease progression in patients with unresectable hepatocellular carcinoma, the most common form of liver cancer, compared with the standard treatment alone.
Immunotherapies work by helping the body's own immune system recognise and attack cancer cells, rather than using chemotherapy to kill them directly.
The result, from a large-scale phase three trial called EMERALD-3, is the kind of rigorous clinical evidence that regulators require before approving a new treatment, meaning a formal application to bring the combination to market is now a realistic near-term prospect.
For AstraZeneca, the commercial implications are considerable.
Citi, which rates the company a buy, already forecasts Imfinzi will generate peak annual sales of $11 billion by 2030, a figure roughly 20% above what most City analysts currently expect, and this trial result helps support that case.
That puts the product in the super-blockbuster category, which is any drug with annual revenues above $10 billion.
Imfinzi is already approved in lung, bladder and bile duct cancers, and further trial readouts in bladder and oesophageal cancers are expected later this year.
Each successful indication adds another layer of revenue to what is rapidly becoming one of the most versatile drugs in AstraZeneca's portfolio, and a central pillar of its growth story.
UBS and Citi both maintain 'buy' ratings on the Anglo-Swedish drugmaker ahead of its first-quarter results, with a rich pipeline of clinical catalysts adding to the investment case.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) reports first-quarter 2026 results on 29 April, with UBS flagging several moving parts that investors will watch closely when the numbers land.
In a preview note, UBS highlights continued strong momentum expected from key cancer drugs Imfinzi, Tagrisso and Calquence, while cautioning that Farxiga, a treatment for type 2 diabetes and heart failure, is likely to show some impact from wholesaler destocking in the US ahead of its loss of exclusivity (LOE), the point at which generic competitors can enter the market.
UBS also flags that three AZ drugs faced volume-based procurement (VBP) in China during the quarter, a government-mandated pricing process under which the company chose not to offer price concessions and, as a result, was excluded from the programme, leaving Forxiga, Lynparza and roxadustat facing mandatory price cuts of 20%, 30% and 30%, respectively.
On the cost side, UBS anticipates higher selling and administrative expenses in the first quarter as AstraZeneca prepares for launches of camizestrant and baxdrostat, two drugs in late-stage development targeting breast cancer and cardiovascular disease, respectively.
UBS maintains its 'buy' rating and 12-month price target of 17,600p, implying upside of around 15% from the current price of 15,274p.
Citi is more bullish, raising its price target to £180 from £170 after updating its model for first-quarter developments, with the bank's earnings per share compound annual growth rate forecast for 2027 to 2030 rising to 15% from 13%.
Citi's upgrade reflects increased confidence in camizestrant following a rival drug's clinical failure, which Citi says expands the addressable market, and a significantly higher probability of success assigned to tozorakimab, a drug targeting lung disease, following positive headline trial data.
AstraZeneca PLC's (LSE:AZN, NASDAQ:AZN) Ultomiris has met its primary endpoint in a phase III trial targeting immunoglobulin A nephropathy (IgAN), a rare inflammatory kidney disease that can progress to kidney failure.
The results showed a statistically significant reduction in proteinuria, the presence of excess protein in urine that indicates kidney damage.
The interim results from the I CAN trial showed Ultomiris, known generically as ravulizumab, reduced proteinuria based on a 24-hour urine protein creatinine ratio (UPCR) at week 34, with reductions observed as early as week 10.
IgAN affects more than 560,000 people across the US, EU and Japan and occurs when abnormal proteins trigger immune complexes that deposit in the kidneys, activating the body's complement system, a branch of the immune response, and driving inflammation that progressively damages kidney tissue.
Ultomiris works by blocking the C5 protein in the terminal complement cascade, the final stage of this immune response, preventing the body from attacking its own kidney cells.
Jonathan Barratt, professor of renal medicine at the University of Leicester and a trial investigator, said many patients with IgAN continue to progress to kidney failure despite advances in care, and described the results as promising.
Marc Dunoyer, chief executive of Alexion, AstraZeneca Rare Disease, said the company intends to file the data with regulatory authorities in key markets and will seek accelerated approval.
The safety profile was consistent with Ultomiris's established record, with no new concerns identified.
The trial's second primary endpoint, measuring the rate of kidney filtration at week 106, will be assessed at the final analysis when the full study completes.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN), the FTSE 100 pharmaceuticals giant, faces no material risk from its Japanese partner Daiichi Sankyo's decision to delay its full-year 2025 results, according to Citi, which maintains a 'buy' rating on the stock.
Daiichi Sankyo, which partners with AstraZeneca on cancer treatments Enhertu and Datroway, has pushed its results publication back from 27 April to 11 May to allow additional time to estimate loss provisions linked to contract manufacturers, citing a review of supply plans across its oncology portfolio in light of rapidly changing business conditions.
Citi notes that Daiichi has previously flagged manufacturing difficulties, including minor Enhertu inventory write-downs of around $30 million in the second quarter of its 2025 financial year due to unqualified production lots, a problem since identified and resolved with no expected impact on supply.
The Japanese drugmaker also recorded around $110 million in compensation fees and inventory write-downs relating to contract manufacturers for Datroway and HER3-DXD, the latter developed in partnership with Merck, in the year to December 2025.
Citi's analysts believe the delay reflects Daiichi working through issues within its own manufacturing network rather than any fundamental problem with the Enhertu or Datroway franchises, which are forecast to contribute 6.5% and 11% of AstraZeneca's revenues in 2026 and 2030 respectively.
The bank sees little or no impact on sales of either drug and retains its positive stance on AstraZeneca's shares.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares fell 1.9% to 13,688p after the US regulator's advisory panel declined to back its camizestrant treatment in a key breast cancer setting.
The FTSE 100 drugmaker said the Oncologic Drugs Advisory Committee of the Food and Drug Administration (FDA) voted three to six against the benefit-risk profile of camizestrant in combination with a CDK4/6 inhibitor for first-line treatment of advanced hormone receptor-positive breast cancer.
AstraZeneca noted the FDA is not bound by the panel’s recommendation but will take it into account as it reviews the application.
The decision comes despite positive data from the Phase III SERENA-6 trial, which showed a 56% reduction in the risk of disease progression or death compared with standard care.
Median progression-free survival was 16.0 months for patients on the camizestrant combination versus 9.2 months for those on existing treatments.
Susan Galbraith, executive vice president of oncology R&D, said the company was “disappointed with the mixed outcome” but remained confident in the drug’s clinical benefit.
Regulatory reviews are ongoing in other regions including the EU and Japan.
Also on Friday, AstraZeneca saw more positive news elsewhere, with a separate FDA advisory panel voting seven to one in favour of its Truqap combination for a form of prostate cancer.
The treatment showed a 19% reduction in the risk of disease progression or death in late-stage trials, supporting its potential as a targeted option in an area of high unmet need.
88 Energy Ltd (AIM:88E, ASX:88E, OTCQB:EEENF, FRA:POQ) told investors that it has lifted the scale of its South Prudhoe project in Alaska, upgrading total gross unrisked 2U prospective resources by around 35% to 768.9 million barrels of oil and natural gas liquids.
The company said the estimate equates to 640.7 million barrels net to 88E and confirms a multi-reservoir opportunity immediately south of the Prudhoe Bay Unit and Kuparuk River Unit on Alaska’s North Slope.
The update follows further geophysical analysis of Schrader Bluff 3D seismic velocity data. It includes a maiden Brookian prospective resource for the North-West Hub and an upgraded Ivishak estimate, particularly for the priority Augusta prospect.
The North-West Hub now carries 301.3 million barrels of gross unrisked 2U resources, while the South-East Hub contains 467.6 million barrels. Within the North-West Hub, the maiden Brookian estimate totals 181.5 million barrels gross 2U, including 61.2 million barrels at West Sak and 120.3 million barrels at Upper Schrader Bluff.
The Ivishak estimate for the North-West Hub increased around 44% to 69.9 million barrels gross 2U.
The planned Augusta-1 exploration well is now designed to test up to 133.7 million barrels gross unrisked 2U, or 111.4 million barrels net to 88E, across the Ivishak, Kuparuk and Brookian reservoir intervals.
88 Energy said Nordic Rig-3 has been secured for Augusta-1, with well planning, permitting and long-lead procurement advancing ahead of a planned drilling campaign during the CY2027 Alaskan winter season.
Sintana Energy Inc (TSX-V:SEI, OTCQB:SEUSF, FRA:3ZX1, AIM:SEI) has conditionally raised US$11.5 million to back a busy exploration programme, including drilling on the Chevron-operated Nabba-1 well in Namibia’s PEL 90.
The fundraise was priced at 22.5p per new common share on AIM and C$0.41 on the TSX-V, with the company set to issue 38.0 million new shares. The AIM price represents a 13.5% discount to Sintana’s 26p closing mid-market price on 14 May.
The raise comprises a US$10.8 million placing of 35.6 million shares and a US$0.7 million subscription for 2.37 million shares by directors and qualified investors from Canada and Australia. Chief executive Robert Bose and president Eytan Uliel each subscribed for 826,105 shares, investing US$250,000 apiece.
Bose said the oversubscribed fundraise, together with existing cash and proceeds from the Exxon settlement in Colombia, gives Sintana additional capital for Nabba-1 and the cash portion of acquisitions covering interests in PEL 37 in Namibia’s Walvis Basin and KON-16 in Angola’s Kwanza Basin.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) has secured US approval for Baxfendy, the first in a new class of blood pressure medication to reach the market in more than two decades.
The drug works by blocking production of aldosterone, a hormone that can raise blood pressure to dangerous levels and increase the risk of heart and kidney damage.
Roughly half of all patients in the US who take multiple blood pressure medications still cannot get their condition under control, making hypertension the leading modifiable risk factor for heart attack, stroke, kidney disease and dementia.
In clinical trials published in the New England Journal of Medicine, Baxfendy at its higher dose lowered the top blood pressure reading by nearly 16 points, with close to 10 points of that reduction attributable to the drug rather than placebo effect.
That level of improvement is considered clinically meaningful because evidence suggests every 10-point drop in the top reading is associated with a roughly 20% lower risk of serious cardiovascular events.
Ruud Dobber, executive vice president of AstraZeneca's biopharmaceuticals unit, said the drug "offers a much-needed, first-in-class innovation for people living with persistently uncontrolled hypertension who have not responded to or tolerated existing medicines".
Separately, US regulators have approved two new uses for AstraZeneca and Daiichi Sankyo's breast cancer drug Enhertu, allowing it to be used for the first time in earlier-stage disease where the goal is to cure rather than manage the cancer.
Enhertu has been approved for use both before and after surgery in patients with HER2-positive breast cancer, a particularly aggressive form of the disease driven by excess levels of a growth-promoting protein.
In the post-surgery trial, Enhertu cut the risk of the cancer returning or death by 53% compared with an existing treatment, with more than nine in ten patients alive and disease-free after three years.
The approvals trigger $155 million in milestone payments from AstraZeneca to its Japanese partner Daiichi Sankyo.
Enhertu is already approved in more than 95 countries for advanced breast cancer and now covers both early and late-stage disease in the US.
Citi sees the risk-reward balance as favourable for AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) ahead of headline results from a pivotal trial of its heart drug Wainua, expected in the third quarter of 2026.
Wainua is a TTR-silencer, a drug that suppresses production of a protein called transthyretin (TTR) which can misfold and accumulate in the heart and nerves, causing a progressive condition known as ATTR-cardiomyopathy (ATTR-CM).
The CARDIO-TTRansform trial is a phase three study examining Wainua's efficacy specifically in ATTR-CM patients, a larger and more commercially significant population than the nerve disease indication for which the drug is already approved.
Citi believes there is a relatively high probability that the trial hits its primary endpoint, which would push its peak Wainua sales estimate for ATTR-CM to $6 billion, or $7 billion including the existing nerve disease approval.
This is well above the risk-adjusted consensus of around $3 billion and represents a 2% uplift to the bank's discounted cash flow valuation.
If a secondary endpoint showing benefit in patients already treated with stabiliser drugs is also met, Citi sees peak ATTR-CM sales reaching $8 billion and total Wainua sales of $9 billion, equivalent to a 4% DCF uplift.
Trial failure would represent a 3% DCF downside, but Citi notes that even in this scenario, its valuation remains more than 20% above the current share price, suggesting investors should treat any weakness as a buying opportunity.
Deutsche Bank has kept its sell rating and 11,500p price target on AstraZeneca PLC (LSE:AZN, NASDAQ:AZN), the FTSE 100 pharmaceuticals giant, with the shares at 13,064p.
The bank's analyst judged the company's investor event at the American Society of Clinical Oncology (ASCO) annual conference in Chicago as broadly incremental, acknowledging AZ's formidable oncology track record while pointing to unresolved questions that temper enthusiasm.
The most closely watched data at ASCO was the phase III EMERALD-3 trial, which showed AstraZeneca's immunotherapy combination of Imfinzi (durvalumab) and Imjudo (tremelimumab), paired with lenvatinib and transarterial chemoembolisation (TACE), cut the risk of disease progression or death by 30% versus TACE alone in patients with unresectable liver cancer eligible for embolisation.
Despite the positive readout, Deutsche flagged uncertainty over whether EMERALD-3 will secure regulatory approval, a question it sees as unresolved alongside similar concerns about SERENA-6, AstraZeneca's breast cancer study of camizestrant, a next-generation oestrogen receptor degrader.
The bank also noted that ASCO 2026 marks the first conference since 2018 at which AstraZeneca has not featured in the prestigious plenary session, ending a remarkable eight-year run.
A second Deutsche Bank note, arising from a call with AstraZeneca's head of cardiovascular and renal research and development, flagged 2027 as a potentially significant year for pipeline catalysts, with phase III readouts expected for oral PCSK9 inhibitor laroprovstat, mineralocorticoid receptor antagonist balcinrenone and endothelin receptor antagonist zibotentan.
More immediately, the bank expressed caution over the early commercial trajectory of Baxfendy, a first-in-class hypertension treatment that recently received FDA approval, describing a third-party prescriber poll on the launch as mixed.
AstraZeneca's Wainua RNA-interference therapy for hereditary transthyretin amyloidosis is also expected to deliver a pivotal trial result in 2026, adding to a busy near-term catalyst schedule.
