FDA Orders Halt to $JUNO Clinical Trials; Shares Set to Collapse Lower

Sympathy stocks are already getting mauled, with KITE leading the fray off by 12.5%. BLUE is down too–off by 4.55%. BLCM is another little known CAR-T competitor, off by almost 3%.

Juno Therapeutics, Inc. (JUNO), a biopharmaceutical company focused on re-engaging the body’s immune system to revolutionize the treatment of cancer, today announced that it has received notice from the U.S. Food and Drug Administration (FDA) that a clinical hold has been placed on the Phase II clinical trial of JCAR015 in adult patients with relapsed or refractory B cell acute lymphoblastic leukemia (r/r ALL), known as the “ROCKET” trial. The clinical hold was initiated after two patient deaths last week, which followed the recent addition of fludarabine to the pre-conditioning regimen.

Juno has proposed to the FDA to continue the ROCKET trial using JCAR015 with cyclophosphamide pre-conditioning alone. In response, the FDA has requested that Juno submit, as a Complete Response to the Clinical Hold: a revised patient informed consent form, a revised investigator brochure, a revised trial protocol, and a copy of the presentation made to the agency yesterday. Juno will submit the requested information to the FDA this week.

CELG is a major investor in JUNO. That money has just been whisked away.

Update: JUNO reopens for trade, down 30%.

UPDATE: Juno reveals two patients died in clinical trials.

The two adult patients died last week, Juno said in a statement Thursday, after a chemotherapy drug called fludarabine was added to the treatment regimen. It was being tested in adults with relapsed or refractory B-cell acute lymphoblastic leukemia, a cancer that affects the immune system. Juno has asked the FDA to be allowed to continue the trial without using the drug.

A day of reckoning is coming. You’re all assholes at a party in the Hamptons, trashing a beautiful mansion.

But do you know how the story ends?

YOU GET FUCKING FIRED.

Laugh now. They all laughed at Noah too, until they were getting kicked in the head by giraffes who weren’t fast enough to board the ark.

This is what I know.

A fucking pestilence is sweeping the western hemisphere. Crude oil is knifing lower–currently at 2 month lows. Come 2017, the entirety of the oil complex will be in shambles due to the debt wall to come. We’re in an earnings recession. The Fed is tone deaf. The world is encumbered by negative yielding interest rates. And, lastly, Hillary Clinton is fixing to be your next President.

Need I say more?

The name of the company is Oxitec. They’re funded by the Bill and Melinda Gates foundation and they’ve created a method to decrease the population via genetically modified mosquitos, targeting indigenous folks who aren’t afforded the antidote.

It sounds like a horrifying sci-fi movie for the masses. It’s too diabolical to be true, naturally. The dengue virus GMO mosquitos, although ‘experimental’, couldn’t lead to this. Could it?

Up to 50 women per day are being infected in Puerto Rico. Fuck the warmer climes. Seek refuge in the north, where the air is brisk and the people are intelligent.

All of you fuckers in electricity stocks are getting 1.2 jigawatts to your heads today, as the greatest, dumbest, melt up of all time–unwinds.

The utes are off by 1.5%. Finally, valuation means something.

According to Exodus, the median P/S and PE ratios are way out of wack for the utes, trading well above levels one would deem ‘appropriate.’

On the Bitcoin side, who the fuck knows why it’s chasing silver and crude down the drain. As of right now, it’s down 8.2%.

A future unemployed lad from Deutsche Bank downgraded FSLR today, causing great misery and pain for lovers of hideous solar’d panels. In his childish report, he cited ‘slower than expected ramp in bookings’ and a ‘likely pause in demand ahead of the series 5 ramp and potential increase in pricing pressure, driven by aggressive bidding environment from the developers in international segments.’

It’s all a bunch of nonsense, really. All of these issues were known. Price target comes barreling down from $80 to $44.

You’d think this bodes poorly for a TSLA-SCTY tie up, now that the industry leader is left in shambles. But SCTY is up–because we live in a fucked up world.

I tried to play your sordid catamite games, looking for silver linings, pretending the world isn’t on the precipice any longer. But I can’t do it anymore. You’re all doomed, fucked in a burlap bag and beaten to death like a few lumps of ice.

LISTEN TO ME: your ramp that you love so dearly will be gone. Poof, like a whisper in the dark and then into the crevasse. Vanished.

Your little respite rallies are finished. The days of when you could trade XYZ for ABC are over. You will either board the fucking ark, or drown.

Crude is down 4.7% right now. This is the end of days scenario. The road runner has been killed. All is lost.

Moving on.

German bund yields are back lower gain–down to -0.172, reversing earlier gains.

USD/JPY cross stands at 100.73, down 0.6%.

Do you know what that means?

Wait for it.

.

.

.

FUCKED.

The pound is lower. Gold is lower. The Dow is barreling towards -100.

Shares of organic food producer, HAIN, is running hardcore higher, after news broke that Danone was interested in acquiring WWAV. God only knows why. Comparing WWAV to HAIN on an apples to apples basis, any moron can see HAIN is the better company. Plus they have better brands.

Some people mentioned LWAY as a possible play off the WWAV bid. But LWAY makes disgusting Kefir and no one really wants to ever fucking drink that stuff, not even crazed body builders. And we all know, body builders would eat roaches if it meant more mass.

I’ve always been a fan of the food industry. In spite of being fit, one could argue that Le Fly is a foodie, deep down a gluttonous pig. Nevertheless, I have my favorites, which are MNST, HAIN and maybe JJSF.

For now, HAIN is living the dream, the fucking rice dream, and loving it.

The negative rate phenomenon is putting enormous strain on forex crosses and generally scaring the shit out of people. Today’s 2bps bump in German bunds is a very good development. Moreover, it seems the ECB will be more focused on both Italian and Spanish debt, going forward, which is the reason why we’re seeing the spreads between periphery nations tighten v Germany.

QE has distorted the bond market with reckless abandon. The result of negative rates have left both European and Japanese markets in tatters, greatly underperforming US indices.

Year to date, Germany is down 12% and Japan is off by 20%, while we’re up 4%. I cannot remember the last time US markets have diverged to such a degree. There can be only one explanation: negative rates.

Ergo, the quicker German bunds can crawl out from the negative position it’s in the better they’ll be.

The DAX is higher by 0.55%.

Nick Mazing from Ampera Capital wants the makers of the reprehensible Silk milk to demand MOAR from Danone. In an open letter to the company, Mazing says the true value of the company is $69-84.

Shares of WWAV are sharply higher in the pre market on Danone’s $10 bill buyout bid.

Head of Global EM rates at HSBC, Andrew De Silva, sees opportunity in non-negative sovereign bonds, such as Australia, and believes rates might never go up.

‘Central banks don’t have a choice.’