2 days ago
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Sarepta Therapeutics has found the leader it hopes can engineer a desperately needed turnaround.
The company on Monday announced that Michael Severino, an executive with leadership experience at startups as well as large drugmakers, will become its next CEO effective July 28. He'll replace longtime leader Doug Ingram, who in February announced plans to retire after a tumultuous run.
Severino has been working in the biopharmaceutical industry for more than two decades, including stops at AbbVie and Amgen. At AbbVie, Severino helped bring to market multiple drugs for psoriasis, arthritis, cancer and hepatitis C. At Amgen, he oversaw research and development as the company's senior vice president of development and corporate chief medical officer.
In 2022, Severino left AbbVie to run Tessera Therapeutics, a buzzy "gene writing" startup backed by Flagship Pioneering. Tessera recently brought its first drug prospect, a gene editing treatment for alpha-1 antitrypsin deficiency, into clinical testing. Last week, Tessera announced that Severino had joined a "commercial stage" biotech company and that former Merck & Co. executive Joseph Romanelli would serve as its next leader.
#abbvie #tessera #biopharma #amgen
Sarepta Therapeutics has found the leader it hopes can engineer a desperately needed turnaround.
The company on Monday announced that Michael Severino, an executive with leadership experience at startups as well as large drugmakers, will become its next CEO effective July 28. He'll replace longtime leader Doug Ingram, who in February announced plans to retire after a tumultuous run.
Severino has been working in the biopharmaceutical industry for more than two decades, including stops at AbbVie and Amgen. At AbbVie, Severino helped bring to market multiple drugs for psoriasis, arthritis, cancer and hepatitis C. At Amgen, he oversaw research and development as the company's senior vice president of development and corporate chief medical officer.
In 2022, Severino left AbbVie to run Tessera Therapeutics, a buzzy "gene writing" startup backed by Flagship Pioneering. Tessera recently brought its first drug prospect, a gene editing treatment for alpha-1 antitrypsin deficiency, into clinical testing. Last week, Tessera announced that Severino had joined a "commercial stage" biotech company and that former Merck & Co. executive Joseph Romanelli would serve as its next leader.
#abbvie #tessera #biopharma #amgen
5 days ago
US stocks were hammered on Thursday as the latest AI spending outlooks from Alphabet (GOOG) and Tesla (TSLA) spooked investors, and oil prices surged above $100 in the wake of expanded attacks in the Middle East.
The Nasdaq Composite (^IXIC) suffered the worst of the losses, tumbling 2.1% and briefly breaking below 25,000 for the first time since May.
The Dow Jones Industrial Average (^DJI) dropped 0.9%, meanwhile, and the S&P 500 (^GSPC) fell by 1.2%, building on a stock retreat on Wednesday amid a flurry of earnings reports.
Big Tech stocks sold off, led by declines in Alphabet and Tesla shares after the two "Magnificent Seven" heavyweights reported results after Wednesday's market close.
Alphabet posted a strong quarter fundamentally, but the Google parent's raised capex outlook comes as investors scrutinize AI's return on investment. Tesla CEO Elon Musk also said 2026 would be a "massive capex year" for the company, highlighting a focus on Optimus robots, robotaxis, and data centers.
#goog
The Nasdaq Composite (^IXIC) suffered the worst of the losses, tumbling 2.1% and briefly breaking below 25,000 for the first time since May.
The Dow Jones Industrial Average (^DJI) dropped 0.9%, meanwhile, and the S&P 500 (^GSPC) fell by 1.2%, building on a stock retreat on Wednesday amid a flurry of earnings reports.
Big Tech stocks sold off, led by declines in Alphabet and Tesla shares after the two "Magnificent Seven" heavyweights reported results after Wednesday's market close.
Alphabet posted a strong quarter fundamentally, but the Google parent's raised capex outlook comes as investors scrutinize AI's return on investment. Tesla CEO Elon Musk also said 2026 would be a "massive capex year" for the company, highlighting a focus on Optimus robots, robotaxis, and data centers.
#goog
6 days ago
By
July 22, 2026 11:44 am ET
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(1 min)
Amazon AMZN -4.57%
decrease; down pointing triangle
.com cut jobs in parts of its artificial general intelligence organization, the latest targeted workforce reduction at a major technology company as the industry continues to pour billions of dollars into artificial intelligence.
#artificial #amazon #amzn #pointing
July 22, 2026 11:44 am ET
Listen
(1 min)
Amazon AMZN -4.57%
decrease; down pointing triangle
.com cut jobs in parts of its artificial general intelligence organization, the latest targeted workforce reduction at a major technology company as the industry continues to pour billions of dollars into artificial intelligence.
#artificial #amazon #amzn #pointing
7 days ago
Zcash (ZEC), the leading privacy coin by market cap, extended its decline on Wednesday, dropping by over 4% to around $510. That was down circa 15% from the local high of around $590, established a week ago.
The correction put ZEC's cup-and-handle breakout thesis at risk of invalidation. Instead, it is leading to the validation of multiple bearish reversal patterns, with downside targets under the key $500 support level.
Let's examine.
ZEC's four-hour chart shows the price breaking below the lower trendline of a symmetrical triangle near $535–$538.
A symmetrical triangle forms when price consolidates between converging support and resistance trendlines. The pattern typically resolves in either direction.
#leading #wednesday #instead
The correction put ZEC's cup-and-handle breakout thesis at risk of invalidation. Instead, it is leading to the validation of multiple bearish reversal patterns, with downside targets under the key $500 support level.
Let's examine.
ZEC's four-hour chart shows the price breaking below the lower trendline of a symmetrical triangle near $535–$538.
A symmetrical triangle forms when price consolidates between converging support and resistance trendlines. The pattern typically resolves in either direction.
#leading #wednesday #instead
