Investing.com – The S&P 500 remained close to record highs Thursday as investors digested more corporate earnings  and remarks from President Donald Trump at Davos in which he said he would demand interest rates be lowered. 

At 12:47 ET (17:47 GMT), the rose 303 points, or 0.7%, while the  index was 0.2% higher, and the dropped 0.3%.

Trump says he’ll demand Fed drops interest rates at Davos

Trump delivered a speech remotely to the World Economic Conference in Davos, Switzerland, touching on range of topics including interest rates, the US-China trade relationship, and domestic energy policy. 

On interest rates, Trump said he would

“demand that interest rates drop immediately, and likewise they should be dropping all over the world.” 

The remarks come ahead of the Fed meeting next week, with many on Wall Street expecting the central bank to hold rates steady, 

The rate sensitive 2-year Treasury was largely unchanged, however, as he Fed like many other world central banks is independent. 

The president did, however, pressure oil prices after saying he would ask Saudi Arabia to lower the price of oil and he reiterated a pledge to accelerate U.S. energy production. 

American Airlines slumps, EA falls on guidance cut; Ge Aerospace shines 

The quarterly corporate earnings season continues Thursday, with more senior companies releasing their results.

GE Aerospace (NYSE:) stock rose 7% after the aircraft engine supplier forecast a stronger full-year profit as demand for its high-margin parts and services got a boost from airlines flying older jets to sidestep a persistent shortage of new aircraft.

American Airlines (NASDAQ:) stock slumped 8% after the carrier’s first-quarter earnings outlook on Thursday fell short of expectations, forecasting an adjusted loss per share of 20 cents to 40 cents for the first three months of 2025, breaking from a more upbeat outlook from its rivals.

Electronic Arts (NASDAQ:) slumped 17% after the video game maker slashed its guidance for net bookings due to sluggish performance of its soccer titles.

“The drastic cut to Global Football’s near-term outlook does not provide a hard reset that investors looked for. Relative to a Battlefield delay, declines in Global Football are more alarming,” Oppenheimer said in a note. 

Knight-Swift Transportation (NYSE:) stock rose 4% after fourth-quarter results showed improved operating margins, while Alaska Air (NYSE:) gained 4% after fourth-quarter results topped estimates on the top and bottom lines.

Labor market remains solid

Data released earlier Thursday showed that the number of Americans filing rose marginally last week, suggesting that solid job growth likely continued in January.

Initial claims for state unemployment benefits increased 6,000 to a seasonally adjusted 223,000 for the week ended Jan. 18.

However, freezing temperatures that have gripped large parts of the country and fires in Los Angeles could boost claims in the coming weeks.

(Peter Nurse, Ayushman Ojha contributed to this article.)

• Capital increases in late 2024 provide sufficient working capital until expected resumption of early access program in February.
• Review of LUMEVOQ ® dossier ongoing, following submission of responses to questions from the ANSM.

PARIS–(BUSINESS WIRE)–Regulatory News:

GenSight Biologics (“GenSight Biologics” or the “Company“) ( Euronext (EPA:): SIGHT, ISIN: FR0013183985, PEA-PME eligible), a biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders, today reported its cash position as of December 31, 2024, and provided a business update.

“Our recent bridge financing operations have provided us with operational flexibility as we await regulatory clearance for the resumption of our early access program, noted Jan Eryk Umiastowski, Chief Financial Officer of GenSight Biologics. We remain focused on prudent cash management while working closely with ANSM to restart our program. The potential restart of the early access program represents an important milestone that would significantly strengthen our financial position and support our continued development efforts.“

Cash Position as of December 31, 2024

GenSight Biologics’ cash and cash equivalents totaled €2.5 million as of December 31, 2024, compared to €3.4 million on September 30, 2024.

The Company completed successful offerings in November and December 2024, through capital increases for gross amounts of approximately €2.8 million and €1.5 million, respectively, reserved to specialized investors. GenSight continues to work on optimizing cash management while ensuring a sustainable future.

To date, the Company does not have sufficient net working capital to meet its obligations over the next 12 months but only until late February 2025 when the first payments in connection with the potential resumption of the early access program (Autorisation d’Accès Compassionnel or AAC) are expected. With the potential indemnities generated by the resumption of AAC, the Company anticipates that it would have sufficient net working capital to meet its obligations over the next 12 months.

In November 2026, the Company will have to pay the annual rebates on the 2025 AAC program which will amount to around 50% of the AAC indemnities generated over the year. Consequently, the Company may need to seek other sources of debt or equity financing or achieve partnering or M&A opportunities, in order to supplement its working capital requirements and fund its operating expenses before the second half of 2026.

Regulatory Update

The French medicines safety agency ANSM (Agence Nationale de Sécurité des Médicaments et des produits de santé) is continuing its review of the LUMEVOQ ® quality dossier LUMEVOQ ® following the submission, on January 10, of the Company’s responses to the questions received from the agency in late December. GenSight teams, along with those of the treating center 15-20 National Hospital, are mobilized to act quickly on next steps once the ANSM’s green light is received.

Preparations for the new Phase III trial RECOVER and the planned submission to the UK’s MHRA are ongoing.

Number of outstanding shares

As of December 31, 2024, the Company’s share capital is composed of 124,774,445 shares.

Financial Calendar 2025

The Company’s financial calendar for 2025 is as follows:

This financial calendar is provided for information only and may be subject to changes. The Company’s updated financial calendar is available on the corporate website.

About GenSight Biologics

GenSight Biologics S.A. is a clinical-stage biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics’ pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from blinding retinal diseases. GenSight Biologics’ lead product candidate, LUMEVOQ ® (GS010; lenadogene nolparvovec), is an investigational compound and has not been registered in any country at this stage; a marketing authorization application is currently under review by the EMA for the treatment of Leber Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease affecting primarily teens and young adults that leads to irreversible blindness. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to be administered in a single treatment to each eye by intravitreal injection to offer patients a sustainable functional visual recovery.

Forward-Looking Statements

This press release contains forward-looking statements, including statements regarding product development prospects and financial projections. These statements do not constitute guarantees of future performance and involve risks and uncertainties. A further list and description of risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements in this press release can be found in GenSight Biologics’ regulatory filings with the French Autorité des Marchés Financiers. Existing and prospective investors are cautioned not to place undue reliance on these forward-looking statements and estimates, which speak only as of the date hereof. Other than as required by applicable law, GenSight Biologics undertakes no obligation to update or revise the information contained in this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250123773001/en/

GenSight Biologics
Chief Financial Officer
Jan Eryk Umiastowski
jeumiastowski@gensight-biologics.com

LifeSci Advisors
Investor Relations
Guillaume van Renterghem
gvanrenterghem@lifesciadvisors.com
+41 (0)76 735 01 31

Source: GenSight Biologics

By Sam Tobin and Michael Holden

LONDON (Reuters) – A British teenager who killed three young girls at a Taylor Swift-themed dance event was jailed for at least 52 years on Thursday, for an attack Prime Minister Keir Starmer called one of the most harrowing moments in Britain’s history.

Axel Rudakubana, 18, admitted killing the girls and stabbing 10 others last July in the northern English town of Southport, an atrocity that shocked Britain and was followed by days of nationwide rioting.

Prosecutor Deanna Heer told Liverpool Crown Court that Rudakubana was obsessed with violence and genocide, and two of his victims suffered such terrible injuries they were “difficult to explain as anything other than sadistic in nature”.

Judge Julian Goose said Rudakubana should serve a minimum of 52 years. He said he could not impose a full life sentence as Rudakubana was 17 when the attack took place but he was unlikely ever to be released.

Twice during Thursday’s hearing, Rudakubana was removed from the dock after shouting he was unwell. He refused to return to court to hear his sentence.

The court was shown harrowing video footage of screaming girls fleeing the building. One bloodied girl collapsed outside, provoking gasps and sobs from the court’s public gallery.

“He targeted us because we were women and girls, vulnerable and easy prey,” Leanne Lucas, 36, the yoga teacher who organised the event and was stabbed five times, told the court.

Bebe King, six, Elsie Dot Stancombe, seven, and Alice Dasilva Aguiar, nine, were killed. They were among 26 children attending the summer vacation event.

Two suffered at least 85 and 122 sharp force injuries Heer said, saying it appeared he had tried to decapitate one of them.

After his arrest, Rudakubana told police: “I’m glad those kids are dead, it makes me happy.”

Images and documents found on a computer at his home showed a long obsession with violence, killing and genocide, Heer said.

Rudakubana also admitted possessing an al Qaeda training manual and producing ricin, a deadly poison which the judge said it was likely the teenager would have used.

MURDERS NOT CONSIDERED TERRORISM

Heer said the murders were not considered terrorism as Rudakubana was not inspired by any particular political or religious ideology. Material mocking religions including Islam, Judaism and Christianity had been found on his devices.

“It is not possible to identify any particular terrorist cause,” Heer said. “Rather, the evidence suggests that the defendant’s purpose was the commission of mass murder as an end in itself.”

Rudakubana had been diagnosed with autism but his lawyer, Stan Reiz, said he did not have a mental disorder that explained his actions and there was little he could offer in mitigation for “such wickedness”.

Heer said Rudakubana had in 2019 contacted a helpline for children and asked: “What should I do if I want to kill somebody?”

Soon afterwards, he was expelled from school after admitting bringing in a knife 10 times, and was arrested with a knife in his backpack after returning and attacking a pupil with a hockey stick, Heer said.

Rudakubana had been referred to a counter-radicalisation scheme, Prevent, after researching school shootings, uploading images of late Libyan leader Muammar Gaddafi to Instagram and researching an attack in London, but no action was taken.

The government has ordered a public inquiry, saying there were grave questions to answer.

“After one of the most harrowing moments in our country’s history we owe it to these innocent young girls and all those affected to deliver the change that they deserve,” Starmer said.