Gilead Sciences Experimental Drug – Remdesivir

Gilead Sciences experimental drug is reportedly showing promise for treatment of the coronavirus.

The University of Chicago Medicine Hospital reports that patients with COVID-19 treated with Gilead Sciences’ experimental antiviral drug, Remdesivir, in a clinical trial showed “rapid recovery in fever and respiratory symptoms with nearly all patients discharged in less than a week”, medical site STAT reported.

The University of Chicago Medicine recruited 125 people with COVID-19 into Gilead’s two Phase 3 clinical trials. Of those people, 113 had severe disease. All the patients have been treated with daily infusions of Remdesivir. 

“The best news is that most of our patients have already been discharged, which is great. We’ve only had two patients perish,” said Kathleen Mullane, the University of Chicago infectious disease specialist overseeing the remdesivir studies for the hospital. She added: “Most of our patients are severe and most of them are leaving at six days, so that tells us duration of therapy doesn’t have to be 10 days. We have very few that went out to 10 days, maybe three,” she said.

Patients rush to join studies of remdesivir drug

But Gilead Sciences urged caution on drawing conclusions from the report. Gilead said the totality of the data from the trial needed to be analyzed, and expects to report results from a study in severe COVID-19 patients at the end of the month, and data from other trials in May.

“The entire world has been waiting for results from Gilead’s clinical trials, and positive results would likely lead to fast approvals by the Food and Drug Administration and other regulatory agencies,” STAT reported. “If safe and effective, it could become the first approved treatment against the disease.”

Currently, there is no FDA approved treatments or vaccines for the coronavirus.

REMDESIVIR IS AN INVESTIGATIONAL PRODUCT AND HAS NOT BEEN APPROVED ANYWHERE GLOBALLY. THE SAFETY AND EFFICACY OF REMDESIVIR FOR ANY USE HAVE NOT BEEN DETERMINED.


References:

  1. https://www.statnews.com/2020/04/16/early-peek-at-data-on-gilead-coronavirus-drug-suggests-patients-are-responding-to-treatment/
  2. https://www.reuters.com/article/us-gilead-sciences-stocks-idUSKBN21Z25V
  3. https://www.usatoday.com/story/money/2020/04/17/remdesivir-coronavirus-drug-gilead-sciences-covid-19-treatment/5150793002/

Getting Better at Something

To Get Better at Something, Ask Yourself These Two Questions

Anyone can get better and improve at anything, including personal finance, with the right mindset and deliberate action. That includes getting better at saving by paying yourself first, investing for the long-term and accumulating wealth.

But in order to get better, individuals need to honestly answer “yes” to two very basic questions. Those two questions are:

  1. Do you want to do or get better?
  2. Are you willing to feel the discomfort of putting in more effort and trying new things that will feel weird and different and won’t work right away? To fail?

If the answer is “no” to either question, then it would be foolish for an individual to believe they can improve and get better by doing things the way they’ve always done it or thinking the same way they’ve always thought. Additionally, it would prove a waste of time and effort for any coach to undertake a client or player to improve their skills who do not answer yes to both questions.

Essentially, getting better, especially at saving and investing, is about wanting to get better by embracing a positive mindset and is about having a willingness to experience discomfort. It is important to know that you can become better at anything if your willing to do what is necessary.

But you will not get better if 1) you don’t believe you can and 2) you aren’t willing to accept the discomfort of doing things differently and do whatever it takes to get better.

Learning anything new means moments of feeling uncomfortable. You will need to act in ways that are unfamiliar and take risks that are new. Try things that, in many cases, will be initially frustrating because they won’t work the first time.

You are guaranteed to feel awkward and possibly experience failure for the first time. You will make mistakes. You may be embarrassed or even feel shame, especially if you are accustomed to succeeding.

The key take-away is that answering these two questions yes are a prerequisite to growth and achieving financial success.


  1. https://hbrascend.org/topics/if-you-want-to-get-better-at-something-ask-yourself-these-two-questions/

Some States Ready to Reopen | REUTERS

REUTERS APRIL 15, 2020 / 10:29 AM

Some governors believe their states ready to reopen after coronavirus shutdown, CDC head says

Governors of about 20 U.S. states where the new-coronavirus pandemic has had a low impact believe they may be ready to start the process of reopening their economies by President Donald Trump’s May 1 target date, a top U.S. health official said on Wednesday.

Robert Redfield, director of the Centers for Disease Control and Prevention, said the CDC was prepared to assist those states in the process of lifting restrictions aimed at controlling the spread of the virus, which has contributed to the deaths of at least 28,000 people across the country.

“There are a number of states – 19, 20 states – that really have had limited impact from it. So I think we will see some states that are – the governors feel that they’re ready – we’re poised to assist them with that reopening,” Redfield said in an interview with ABC’s “Good Morning America.”

Yet, health experts say that to avoid a second wave of infections as people return to work in certain states, extensive testing must be available to track infections, as well as contact tracing and antibody testing to learn who had been previously infected and might have some immunity.

Reopen coronavirus plan

The CDC and the Federal Emergency Management Agency have put together a public health strategy to reopen parts of the country as part of the larger White House effort to get Americans back to work, the Washington Post reported.

The plan cites three phases: A national communication campaign and community readiness assessment through May 1; increased emergency funding and production of testing kits and personal protective equipment through May 15; and staged reopenings depending on local conditions.


Read more: https://www.reuters.com/article/us-health-coronavirus-usa-idUSKCN21X25I

Global Tracker: https://graphics.reuters.com/HEALTH-CORONAVIRUS-USA/0100B5K8423/index.html

Coronavirus Stimulus Check

Eligible Americans with direct deposit accounts set up have begun to receive their coronavirus relief payment.

Over 80 million Americans will see the coronavirus stimulus checks deposited into their bank accounts today. 

The first round of checks, which are part of the federal government’s response to unprecedented unemployment levels financial strain caused by coronavirus pandemic, were automatically deposited into the bank accounts of those who filed a 2018 or 2019 tax return and received a refund via direct deposit.

Social Security retirement and disability beneficiaries will also automatically receive their payments.

Those who do not typically file tax returns and have not provided the IRS with their bank account information, as well anyone receiving paper checks will have to wait a bit longer, according to the U.S. Treasury.

No checks have been mailed yet, and it is expected to take a few months for all of them to be sent out.

You can track your payment with the new IRS Get My Payment tool. You will need to input your Social Security number and the mailing address on your last tax return to check the status of your check.

Eligibility

For Americans to receive the coronavirus stimulus check, an individual must have a work-eligible Social Security number and cannot be the dependent of another taxpayer. The relief applies to both people without incomes and those whose sole income is derived from a benefit program, like Social Security.

The payments will be $1,200 per adult for those with adjusted gross incomes of up to $75,000. The threshold for married couples is $150,000 – they are eligible for $2,400 and $500 per child.

The payment steadily declines for those who make more. Those earning more than $99,000, or $198,000 for joint filers, are not eligible. The thresholds are slightly different for those who file as a head of household.

Parents will also receive $500 for each qualifying child.

What you need to do

The IRS will administer the program and determine eligibility based on an individual’s 2019 tax return. If 2019 taxes have not been filed, the agency will look at their field 2018 tax returns. That includes individuals who file returns for the Earned Income Tax Credit but do not otherwise pay taxes.

For most people, the stimulus checks will be directly deposited in American tax payers bank account if the government has that information from your tax return. But some people who might not traditionally file tax returns will need to take action. People behind on filing their federal tax returns might also want to get caught up.

The government will default to sending you the check by mail if a tax payer did not use direct deposit.  However, IRS and Treasury will develop an online portal in the coming weeks for individuals to provide their banking information so that they can receive the payments immediately instead of in the mail.


Sources:

  1. https://www.foxbusiness.com/money/coronavirus-stimulus-checks-expected-tax-return

Coronavirus stimulus payments flow into Americans’ bank accounts

Updated: April 15, 2020 2 pm

Eligible Americans with direct deposit accounts set up have begun to receive their coronavirus relief payment.

Over 80 million Americans will see the coronavirus stimulus checks deposited into their bank accounts today. 

The first round of checks, which are part of the federal government’s response to unprecedented unemployment levels and financial strain caused by the coronavirus pandemic, were automatically deposited into the bank accounts of those who filed a 2018 or 2019 tax return and received a refund via direct deposit. 

Social Security retirement and disability beneficiaries will also automatically receive their payments.

Those who do not typically file tax returns and have not provided the IRS with their bank account information, as well anyone receiving paper checks will have to wait a bit longer, according to the U.S. Treasury.

No checks have been mailed yet, and it is expected to take a few months for all of them to be sent out.

You can track your payment with the new IRS Get My Payment tool. You will need to input your Social Security number and the mailing address on your last tax return to check the status of your check.

IRS deposited the first Economic Impact Payments into taxpayers’ bank accounts.

The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.

According to the IRS, “We know many people are anxious to get their payments; we’ll continue issuing them as fast as we can.”

For security reasons, the IRS plans to mail a letter about the economic impact payment to the taxpayer’s last known address within 15 days after the payment is paid. The letter will provide information on how the payment was made and how to report any failure to receive the payment. If a taxpayer is unsure they’re receiving a legitimate letter, the IRS urges taxpayers to visit IRS.gov first to protect against scam artists.

For #COVIDreliefIRS updates see: irs.gov/coronavirus

Hydroxychloroquine not approved to treat COVID-19

Pushing a malaria drug

The Trump Administration has touted hydroxychloroquine to treat patients with COVID-19, despite a paucity of scientific evidence that it’s an effective treatment. The drug, hydroxychloroquine, is a popular malaria and lupus treatment.

The Trump administration continues to cite small unscientific studies in China and France as evidence that hydroxychloroquine helps treat COVID-19 patients. The most recent study came from China and found that the anti-malaria drug helped speed the recovery of a small number of patients who were mildly or moderately ill, though notes that the evidence is limited.

The report anecdotal findings from China and France revealed that virus symptoms of cough, fever and pneumonia went away faster and that patients’ illness were less likely to become severe after administering hydroxychloroquine.

The FDA has not approved hydroxychloroquine to treat COVID-19, though it has granted it limited emergency-use authorization. But medical experts warn that reports of the drug’s benefits for COVID-19 patients are anecdotal and small-scale. And, there is little scientific evidence that proves it efficacy against the coronavirus.

Medical experts warn of hydroxychloroquine potentially severe side effects, which can include impaired vision, hearing loss, paranoia and cardiac arrhythmias, which could be fatal for patients with heart problems or who are taking certain antidepressants. “It is not like water. It is not harmless,” one emergency-room doctor and research scientist said.

The administration’s touting of chloroquine has already created a shortage, making it unavailable for some patients with existing prescriptions for the drug.

Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, has repeatedly said it’s too soon to say if the drug would be effective against COVID-19.


References:

  1. https://www.marketwatch.com/story/trump-again-touts-unproven-drug-to-treat-coronavirus-what-do-you-have-to-lose-2020-04-05?link=sfmw_fb
  2. https://www.usatoday.com/story/news/health/2020/04/06/hydroxychloroquine-trump-anthony-fauci-peter-navarro-whos-right/2953317001/

Chinese Stocks are Risky

Recently Luckin Coffee (LK) issued a press release admitting that their chief operating officer had fabricated a significant amount of sales from the second quarter through the fourth quarter of 2019.  This caused Luckin Coffee share price to fall 82% in U.S. trading and leaving investor with little recourse.

Luckin, a rival of Starbucks in China, happen to be a fairly new public company that opened its initial public offering (IPO) in May 2019.  In the case of Luckin, investors needed to exercise caution when a company goes from zero to a $3 billion market capitalization valuation in less than two years.  Furthermore, it is important to understand that what occurred with Luckin Coffee can occur with other Chinese companies with stocks listed on U.S. equity market exchanges since they are not required to comply with Security and Exchange Commission’s (SEC) strict disclosure and transparency requirements.

Chinese stocks and emerging-markets stocks

China is the world’s second-largest economy and is still growing as an emerging market. Investing in young Chinese companies can be extremely risky.  Although the growth available in China is clearly appealing, there are a number of inherent risks for investors.  The risks include currency manipulation, ineffectual securities reporting standards, the draconian influence of China’s communist government, and the potential for financial fraud.

Recent economic and equity market history are rife with financial frauds and illegal activity related to Chinese companies listed on U.S. equity exchanges.  Many seasoned U.S. investors advise that Americans should avoid investing in Chinese stocks. They even recommend avoiding the few larger Chinese companies with established histories and strong management track records.

Delisting Chinese Stocks

To avoid future Luckin Coffee frauds perpetrated on unsuspecting American investors, “Chinese companies should be delisted from American exchanges if they don’t follow U.S. securities laws”, according to Senator Marco Rubio.  Senator Rubio believes that increase oversight is vitally required for Chinese and other foreign companies listed on American stock exchanges. In fact, he and colleagues have offered legislation that calls for delisting firms that are out of compliance with U.S. regulators for a period of three years.

Bottomline, it is difficult to trust the financial statements coming out of some high-flying companies based there. Fundamentals don’t matter if you can’t be sure the numbers are real and it is difficult to invest in Chinese companies that might be trying to deceive investors.


References:

  1. https://finance.yahoo.com/news/luckin-coffee-chairman-defaults-loan-152735017.html
  2. https://www.msn.com/en-us/finance/topstocks/investing-lessons-from-the-luckin-coffee-accounting-fraud-debacle/ar-BB12eas4
  3. https://www.cnbc.com/2019/10/08/marco-rubio-chinese-firms-should-be-delisted-in-us-if-they-dont-follow-laws.html

Some Auto Insurers Refunding Premiums

Drivers that stay home have fewer accidents and file fewer claims.

Many U.S property-casualty insurance companies are planning to refund a percentage of automobile policy holders payment due to the COVID-19 pandemic and the many stay at home orders that are in place across our nation.  As a result, trends show that Americans are “heeding the calls to suspend nonessential travel, leading to fewer miles driven and fewer accidents”.

For example, one the country’s largest property-casualty insurers indicated to its policy holders that it “will be returning $520 million to its members. This payment is a result of data showing members are driving less due to stay-at-home and shelter-in-place guidance across the country. Every member with an auto insurance policy in effect as of March 31, 2020, will receive a 20% credit on two months of premiums in the coming weeks.”

Refunding a percentage policy holders automobile premium payments makes sense since Americans are driving less and as a result, are involved in substantially less traffic accidents and filing significantly less claims.  During unprecedented times like these, it behooves all property-casualty insurance company executives to be a part of the solution and put cash back into consumers’ wallets by refunding a portion of policy holders premium.  Otherwise, they and the companies they lead will be unduly profiting from this pandemic nightmare that has spread across the U.S.

The amounts may be small relatively speaking, but every little bit will help if it puts dollars into Americans’ wallets.


  1. https://communities.usaa.com/t5/Press-Releases/USAA-to-Return-520-Million-to-Members/ba-p/228150?_ga=2.107157259.825316722.1586454769-212589225.1586454769
  2. https://www.aarp.org/auto/car-maintenance-safety/info-2020/coronavirus-car-insurance-premium-refund.html

How to discontinue COVID-19 home isolation

Centers for Disease Control guidelines say someone who has tested positive for coronavirus can end isolation if he or she has not had a fever for three days, other symptoms have subsided and it’s been seven days since symptoms first appeared.

People with COVID-19 who have stayed home (home isolated) can stop home isolation under the following conditions:

If you will not have a test to determine if you are still contagious, you can leave home after these three things have happened:

  • You have had no fever for at least 72 hours (that is three full days of no fever without the use medicine that reduces fevers)

AND

  • other symptoms have improved (for example, when your cough or shortness of breath have improved)

AND

  • at least 7 days have passed since your symptoms first appeared

If you will be tested to determine if you are still contagious, you can leave home after these three things have happened:

  • You no longer have a fever (without the use medicine that reduces fevers)

AND

  • other symptoms have improved (for example, when your cough or shortness of breath have improved)

AND

  • you received two negative tests in a row, 24 hours apart. Your doctor will follow CDC guidelines.

When to Seek Medical Attention

Reported illnesses have ranged from mild symptoms to severe illness and death for confirmed coronavirus disease 2019 (COVID-19) cases.

These symptoms may appear 2-14 days after exposure. If you develop emergency warning signs for COVID-19 get medical attention immediately.

Emergency warning signs include:

  • Trouble breathing
  • Persistent pain or pressure in the chest
  • New confusion or inability to arouse
  • Bluish lips or face

This list is not all inclusive. Please consult your medical provider for any other symptoms that are severe or concerning.