E Maid Marion

*An unlikely gainer from Swiss Novartis NVS buying by Q1 2021 US Cadent Therapeutics, for $210 up front and up to $770 mn in milestones is an Israeli fund, CLAL Biotech, owner of 13% of the neurologicals firm. Another winner is NVS, long Cadent licensee. Its share jumped $1.34% to $92.2.

*Yet another vaccine against COVID-19 will have UK funded trials. French Valneva will produce a traditional whole virus vaccine in Scotland in 2021 for which there may be need because of allergies.s.

*After the collapse of its share price yesterday, Israeli Enlivex, maker of a drug against cytokine surge in covid-19 and other infections regained 10% to $11.2-11.23. ENLV high today was $11.49.

*The US FDA approved Glaxo's Benlysta to treat lupus nephritis, a kidney disease that killed my college classmate Ann. GSK also did a deal on immunotherapy against cancer with Surface Oncology paying $85 mn up front and as much as $730 mn in milestones and royalties.

*Israeli TEVA was tipped by Steve Tepper of TBI Investment advisors as a possible 50% gainer next year mainly because the charges against it have mostly been dealt with and because of its work on PVRIG antibodies to treat cancer with killer T-cells and NK cells is a potential winner. Teva fell another 0.8%.

*Pfizer's PFE vials holding the corona-virus jab are over-filled and the surplus can be used to inoculate more people. That's the good news. The bad is that vials are sometimes too cold to thaw at all. And two Alaska recipients now have had dangerous allergic reactions

Funds to go

*Lazard Global Total Return CEF LGI is upping its monthly divvy to an annualized 9.2%. LGI also produced a capital gain in the low double digits so far.

*Taiwan Fund TWN, just added to our holdings, is going to buy of to a quarter of its shares outstanding over the next 5 years if the are trading at less than 98% of net asset value. We are up 1.66% on that stake taken for political reasons.

*Mexican REIT Fibra Uno FBASF rose 2.51% today in Mexico to pesos 22.89. After it drew down half its revolving credit lines in April over covid-19 fears it has now paid them back.

*Swedish Investor a/b, a fund, is up 2.78% after it started divesting European telecom tower holdings.

*However Finnish counterpart Sampo Oij fell after Blackrock cut its SAXPY holdings by over 1%.

*Aberdeen Asia Pacific (FAX) and Aberdeen Global Income Funds (FCO) rose 0.9% and 1.17%.

*After Tencent got back its mojo both Naspers (South African NPSNY) and Dutch Prosus (PROSY) gained, by 4.1% and 2.1% resp. Both are invested in lots of other internet operations worldwide.

*UK Atlantica Sustainable Infrastructure, AY, fell 0.08% but its part-owner Algonquin Power & Utility of Canada rose fractionally. Harry Geisel wrote up AY and Vivian has long held AQN. AY pays a yield of 4.67% essentially untaxed according to Harry.

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William K. 2 months ago Member's comment

Interesting and educational today.