Praxis Precision Medicine Stock (NASDAQ: PRAX)

Dernières nouvelles pour Praxis Precision Medicine (NASDAQ:PRAX) Stock

Praxis Precision Medicine

Praxis Precision Medicines Inc is a clinical-stage biopharmaceutical company. The firm is engaged in translating genetic insights into the development of therapies for patients affected by central nervous system disorders characterized by a neuronal excitation-inhibition imbalance. The company has generated three clinical-stage product candidates, ulixacaltamide (formerly known as PRAX-944), vormatrigine (formerly known as PRAX-628), and relutrigine (formerly known as PRAX-562), as well as PRAX-020 which has been in-licensed by UCB Biopharma SRL, or UCB.

Praxis Precision Medicines, Inc. - Common Stock

Praxis Precision Medicines Inc

Praxsyn Corp

An investor who shorted Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)&nbsp;with massive leverage is now&nbsp;sitting on tens of millions in unrealized profit&nbsp;as the market plunged following President Donald Trump&#8217;s tariff announcement.
What Happened: The trader took a 50x leverage bet on ETH&#8217;s decline on Monday, according to on-chain tracker Lookonchain. 
As the second-largest cryptocurrency fell after Trump confirmed plans to impose tariffs on key trade partners like Canada, Mexico, and China, the trader&#8217;s unrealized gains rocketed up to a whopping $81 million. As of this writing, the trader had already begun closing part of the short positions to secure profits. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">As <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> drops, the whale who shorted <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> with 50x leverage is now sitting on an unrealized profit of over $81M! The whale has already started closing part of short positions to lock in profits.<a href="https://t.co/8utezkrdPy">https://t.co/8utezkrdPy</a> <a href="https://t.co/edRVWAnQzf">pic.twitter.com/edRVWAnQzf</a>
&mdash; Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1896761748759420992?ref_src=twsrc%5Etfw">March 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Interestingly, this development follows a 50x long trade by a whale on Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) and Ethereum, turning a $4 million investment into a $200 million position. The trader closed their position shortly before Trump announced a&nbsp;<a href="https://www.benzinga.com/25/03/44068814/bitcoin-ethereum-dogecoin-rally-on-trumps-strategic-crypto-reserve-announcement-cardano-xrp-solana-skyrocket-analyst-says-btcs-new-ath-possible-later-in-the-month" target="_blank" rel="noreferrer noopener">cryptocurrency reserve</a>, resulting in a profit of over $6 million.
See Also:<a href="https://www.benzinga.com/24/12/42735744/pharma-bro-martin-shkreli-predicts-doom-for-michael-saylors-microstrategy-as-stock-dips-below-300-in-after-hours-trading"> </a><a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44069015/bitcoin-is-digital-gold-but-whats-the-rationale-for-an-xrp-reserve-asks-peter-schiff-cardano-founder-charles-hoskinson-says-trump-made-the-right-decision">Bitcoin Is Digital Gold But &#8216;What&#8217;s The Rationale For An XRP Reserve&#8217;, Asks Peter Schiff: Cardano Founder Charles Hoskinson Says Trump Made The Right Decision</a>
Benzinga Note:&nbsp;Leverage trading allows cryptocurrency traders to open larger positions using borrowed capital. While it can potentially amplify profits, it also significantly increases the risk of substantial losses due to the volatile nature of the cryptocurrencies.
Why It Matters: The timing of these trades has sparked speculation of possible insider trading. Panos, an X user, wondered if the long-leveraged trade before the cryptocurrency reserve-fueled rally and the bearish bets before the tariff-induced dump were coincidental or deliberate.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">First someone opens a multi million dollar 50x long right before Trump announces what coins will be part of the crypto strategic reserve Then someone opens 50x short the next day. Totally not insiders. <a href="https://t.co/4Akm5Lti62">https://t.co/4Akm5Lti62</a>
&mdash; Panos (@stridentcitizen) <a href="https://twitter.com/stridentcitizen/status/1896763911426433206?ref_src=twsrc%5Etfw">March 4, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Earlier in the day, renowned economist Peter Schiff<a href="https://in.benzinga.com/25/03/44100165/peter-schiff-anthony-scaramucci-question-trumps-crypto-reserve-announcements-seek-congressional-inquiry"> sought investigation</a> into Trump&#8217;s cryptocurrency announcements, with details on how much those with "advance notice" spent on the cryptocurrencies included in the reserve, as well as how much profit they made selling them.
Notably, on-chain sleuth and Coinbase executive Conor Grogan <a href="https://in.benzinga.com/25/03/44069726/big-gamble-or-insider-tradingwhale-opens-50x-leveraged-long-position-on-bitcoin-etherum-closes-just-before-trumps-crypto-reserve-announcement">found out</a> that the trader related to the 50x long leverage trade was a casino gambler, known for executive high-leveraged trades, and not someone privy to insider info.
Price Action: At the time of writing, Ethereum was exchanging hands at $2,077.37, down 12.81% in the last 24 hours, according to <a href="https://pro.benzinga.com/dashboard?_gl=1&#x2A;380nj0&#x2A;_ga&#x2A;MTEyOTAyOTcxMy4xNzEzMzY0NTYy&#x2A;_ga_V7ZK73W7N0&#x2A;MTcxNDk4MzIzMi42LjEuMTcxNDk4OTE0Ni4wLjAuMA..">data from Benzinga Pro</a>.&nbsp;
Read Next:&nbsp;
<ul>
<li><a href="https://www.benzinga.com/25/03/44069228/elon-musk-labels-meme-coins-as-casino-like-dont-sink-your-life-savings">Elon Musk Labels Meme Coins Casino-Like: Tesla CEO Says &#8216;Don&#8217;t Sink Your Life Savings&#8217; Even As Dogecoin Pumps Over 10%</a></li>
</ul>
Photo courtesy: Shutterstock

Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

News

Markets

$BTC

$ETH

Whale Leveraged 50x Short Sees $81 Million In Paper Gains As Ethereum Plummets After Trump's Tariff Confirmation

Tencent Holdings' (OTC:<a class="ticker" href="https://www.benzinga.com/stock/TCEHY#OTC">TCEHY</a>) Yuanbao AI chatbot has surpassed DeepSeek as the most downloaded iPhone app in China.
What Happened: Tencent integrated its in-house Hunyuan AI technology with DeepSeek's R1 reasoning model, boosting the chatbot's appeal and helping it claim the No. 1 spot on China's iPhone app rankings this week, according <a href="https://www.bloomberg.com/news/articles/2025-03-04/tencent-s-ai-bot-passes-deepseek-as-china-s-favorite-on-iphones">to</a> a report by Bloomberg.
DeepSeek had dominated downloads for over a month. Three of the top five free apps in China are now AI-powered chatbots, with ByteDance's Doubao also ranking among them.
See Also: <a href="https://www.benzinga.com/25/03/44070969/former-intel-ceo-craig-barrett-warns-that-splitting-the-company-would-be-a-costly-mistake-a-far-better-move-might-be-to-fire-the-intel-board-and-rehire-pat-gelsinger">&#8216;Fire The Intel Board,&#8217; Says Former CEO Craig Barrett As He Pushes Back On Breakup Plans, Urges Focus On Chipmaking Wins</a>
In January, DeepSeek shook the U.S. stock market. Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) lost <a href="https://www.benzinga.com/markets/emerging-markets/25/01/43260751/not-just-deepseek-alibaba-unveils-ai-model-to-rival-openais-operator">$600 billion in value</a> in a single day.
According to the Chinese startup, its chatbot can compete with OpenAI&#8217;s ChatGPT, which it developed at a fraction of the cost.
In <a href="https://in.benzinga.com/25/02/43970279/alibaba-and-deepseek-intensify-ai-showdown-challenging-openai-and-nvidias-market-dominance">response to DeepSeek's rise</a>, Alibaba Group Holding Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) has begun benchmarking against it and announced a $53 billion AI investment.
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It&#8217;s Important: China's leading tech giants—Tencent, Alibaba, and Baidu Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>)—are in a fierce race to capture the growing AI market.&nbsp;
While monetization strategies remain unclear, companies are focused on mass adoption and open-source AI development.
With its 1.4 billion WeChat users, Tencent has an advantage in distributing AI-powered services, but Alibaba and Baidu are making larger AI investments.&nbsp;
Meanwhile, Nvidia CEO Jensen Huang has spoken about the need for significantly more <a href="https://in.benzinga.com/markets/equities/25/02/43995515/jensen-huang-says-deepseek-was-fantastic-next-gen-models-demand-100x-more-compute-as-nvidia-smashes-earnings-records">computational power</a> for next-generation AI models.
Check out more of Benzinga's Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/25/02/44055314/mrbeast-lost-millions-on-amazons-beast-games-now-hes-looking-to-raise-hundreds-of-millions-to-take-h" target="_blank" rel="noreferrer noopener">MrBeast Lost Millions On Amazon&#8217;s ‘Beast Games&#8217;—Now He&#8217;s Looking To Raise Hundreds Of Millions To Take His Brand To The Next Level</a></li>
</ul>
Disclaimer:&nbsp;This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tech

Media

BABA

BIDU

NVDA

TCEHY

DeepSeek Loses Top Spot As Tencent's Yuanbao AI Becomes The Top iPhone App In China Amid Intensifying AI Battle

The parties will further develop APIs to enable developers to create new applications for enterprises, including financial services and healthcare.

Proximus Global And Nokia Collaborate To Bring Advanced Network APIs To Developers For Enterprise Innovation

The collaboration also represents a significant step forward in revolutionizing how businesses use AI and network APIs to enhance operations and customer experiences. SAP provides the foundational platform, integrating SAP Business AI with SAP BTP. Vonage helps to elevate these capabilities with communications and network APIs, leveraging Ericsson's expansive telecommunications ecosystem.

ERIC

Vonage, Backed By Ericsson, Partners With SAP To Deliver AI-Enhanced Enterprise Workflows And Customer Engagement

AVGO

Broadcom Introduces VeloSky To Drive Network Convergence aAd Enhance Connectivity For Service Providers

<ul>
<li>Ongoing strategic partnership advances joint pipeline in neurodegeneration research</li>
<li>Evotec receives a $20 million payment to further progress research</li>
</ul>

Evotec Advances Neuroscience Partnership With Bristol Myers Squibb, Secures $20M For Neurodegeneration Research

SQNS

Sequans And Coyote Partner To Improve Stolen Vehicle Recovery With Monarch-Powered Nano 2.0 Tracker

Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) has announced that it has not sold any shares or bought additional Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) in the week from Feb. 24 to March 2, 2025. The company has also declared a quarterly cash dividend on its preferred stock.
What Happened: According to an SEC filing dated March 3, Strategy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) and its subsidiaries currently hold around 499,096 Bitcoins, which were bought for a total of about $33.1 billion. This averages to roughly $66,357 per Bitcoin, including fees and expenses.
The company announced a quarterly cash dividend for its 8.00% Series A perpetual preferred stock, trading under the ticker symbol STRK on The Nasdaq Global Select Market. The dividend, nearly $1.24 per share, will be paid on March 31, to shareholders who are recorded as of the close of business on March 15.
Furthermore, Michael Saylor, co-founder and executive chairman of Strategy, predicted during an interview with CNBC on Monday that the market cap of Bitcoin would surge to $200 trillion. &#8220;Right now we're about $2 trillion in Bitcoin. It's going to $20 trillion, then it's going to $200 trillion, then it's growing 20% a year. And that capital is coming from overseas. It's coming from China, from Russia, from Europe, from Africa, from Asia,&#8221; stated Saylor.
SEE ALSO: <a href="https://www.benzinga.com/tech/25/03/44099748/tim-cook-says-theres-something-in-the-air-new-macbook-air-or-a-surprise-product-launch-on-the-cards">Tim Cook Says &#8216;There&#8217;s Something In The Air&#8217; — New MacBook Air Or A Surprise Product Launch On The Cards?</a>
Why It Matters: On Monday, Strategy&#8217;s shares saw a 12.6% rise <a href="https://www.benzinga.com/markets/cryptocurrency/25/03/44073346/mstr-stock-up-nearly-13-in-monday-pre-market-whats-going-on">in the pre-market </a>trading session, following a surge in Bitcoin&#8217;s value. This surge was triggered by President Donald Trump&#8216;s announcement of a U.S. strategic cryptocurrency reserve, wherein the President declared his preference for Bitcoin and Ethereum. The stock also surged after Saylor announced in a post on X that the company&#8217;s Bitcoin investments generated $2.6 billion in profits during the first two months of 2025.
Saylor hailed Trump&#8217;s plan as "a more liberal economic policy," and emphasized that a well-organized digital asset policy would foster economic growth and encourage innovation. 
Despite the pre-market rise, the stock ended 1.77% lower to close at 250.92 on Monday, as per <a href="https://www.benzinga.com/pro/">BenzingaPro</a>. 
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/markets/equities/25/03/44079509/preparing-for-worse-doesnt-mean-dumping-stocks-investing-wisdom-from-market-guru-sam-ro">&#8220;Preparing For Worse Doesn&#8217;t Mean Dumping Stocks&#8221;: Investing Wisdom From Market Guru Sam Ro</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

MSTR

MSTR Retains Bitcoin, Declares Preferred Dividend As Michael Saylor Predicts $200 Trillion Market Cap For Bitcoin

<ul>
<li>Steep Decline in RC Stock Price Following Q4 2024 Earnings Release Has Potential to Erase More Than $30 Million in Value for&nbsp;UDF IV Shareholders Under Proposed Merger</li>
<li>NexPoint Urges Board to Reconsider Hasty Rejection of NexPoint's Proposal and Postpone Special Meeting to Properly Evaluate Transactions on Behalf of Shareholders</li>
</ul>

NXDT

Reported Earlier, NexPoint Asks UDF IV Board To Reconsider Merger After Ready Capital Stock Drops 25%

Bearish investor sentiment as measured by the American Association of Individual Investors reached a high of 60.6%, just before the S&amp;P 500 experienced its worst day of 2025 and second-worst March trading day ever on Monday.
What Happened: As highlighted by Ryan Detrick, the chief market strategist at Carson Research <a href="https://www.carsongroup.com/insights/blog/why-we-expect-some-green-in-march">in</a> his latest note, the bearish sentiment rose more than 60%, for the week ended Feb. 26. This was the seventh highest time in history since the poll was started in 1987.
Additionally, the 60.6% bearish reading was the highest in 30 months since September 2022 and is the third-highest reading over the last 10 years, as highlighted by LPL Financial in their <a href="https://www.lpl.com/research/blog/investor-sentiment-hits-extremely-bearish-levels.html">note</a>.
Detrick observed the historical data and suggested a potential contrarian buying opportunity. He noted that, on average, stocks have risen approximately 28% in the year following periods when bearish sentiment exceeded 60%.
Expanding the analysis to include all instances where bearish sentiment surpassed 55% in the AAII survey, he found consistently strong returns over the subsequent year. However, he cautioned that exceptions exist, highlighting the spike in fear observed in early 2008, which was followed by significantly lower returns a year later.
"Assuming we aren't heading into another financial crisis (we don't think we are), the other times we saw this was quite bullish for investors willing to stay strong and not panic sell. The S&amp;P 500 was up a median of nearly 13% six months later and 18% a year later," he stated.
See Also: <a href="https://www.benzinga.com/25/03/44070799/mark-cuban-supports-trumps-new-gold-card-scheme-if-sold-to-corporations-for-employee-citizenship-have-a-look-at-the-listed-companies-with-most-number-of-immigrants">Mark Cuban Supports Trump&#8217;s New &#8216;Gold Card&#8217; Scheme If Sold To Corporations For Employee Citizenship: Here&#8217;re The Listed-Companies With Most Number Of Immigrants</a>
Why It Matters: The survey data showed that only 19.4% of investors were bullish, whereas 20% had a neutral market sentiment. According to AAII, the bullish sentiment was unusually low and below its historical average of 37.5% for the seventh time in nine weeks.
Contrary to the AAII Sentiment Indicator, which indicates most investors remain bearish on the short-term outlook for stocks, respondents of the BofA survey remain cautiously optimistic, noted George Smith, portfolio strategist at LPL Financial.
"Given that the AAII Sentiment Indicator's bull-bear spread is bearish and respondents of the BofA survey have conflicting views on the likelihood of a global recession and the valuation of U.S. equities, the consensus on markets appears to be relatively neutral," said Smith.
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, fell on Monday. The SPY declined 1.75% to $583.77, and the QQQ dropped 2.19% to $497.05, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44074852/sp-500-correction-overdue-will-the-markets-sideways-dance-turn-into-a-tumble-focus-on-balance-and-diversification-recommends-analyst">S&amp;P 500 Correction &#8216;Overdue:&#8217; Will The Market&#8217;s &#8216;Sideways&#8217; Movement Turn Into A Tumble? &#8216;Focus On Balance And Diversification,&#8217; Says Analyst</a></li>
</ul>
Photo courtesy: Shutterstock

Equities

S&P 500 Selloff Spikes Investor Pessimism: Bearish Sentiment Hits 30-Month High, But This Expert Recommends Investors To 'Stay Strong And Not Panic Sell'

Ford Motor Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/F#NYSE">F</a>) sold 7,326 electric vehicles in February in the U.S., marking a growth of 15% from the corresponding period last year, thanks to a jump in sales of its Mustang Mach-E SUV and its E-Transit electric vans which offset a drop in sales of its F-150 Lightning truck.
What Happened: Ford currently sells only three pure electric vehicles in the U.S. 
While Mustang Mach-E sales jumped 13% year-on-year, E-Transit sales rose 111%, offsetting a 15% drop in F-150 Lightning truck sales. 
The Mach-E SUV, a rival to Tesla Inc&#8217;s best-selling Model Y SUV, was the best-selling electric vehicle from Ford last month.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>EV Model</td>
<td>Feb. 2025 Sales</td>
<td>Feb. 2024 Sales</td>
</tr>
<tr>
<td>Mustang Mach-E</td>
<td>3,312</td>
<td>2,930</td>
</tr>
<tr>
<td>F-150 Lightning</td>
<td>2,199</td>
<td>2,578</td>
</tr>
<tr>
<td>E-Transit</td>
<td>1,815</td>
<td>860</td>
</tr>
</tbody>
</table>
</figure>
Overall Ford vehicle sales in the U.S. <a href="https://www.benzinga.com/news/large-cap/25/03/44081963/ford-february-us-sales-slide-8-9-ev-sales-jump-15-details">dropped 9% last month</a>, owing to a steep 13% fall in internal combustion vehicle sales. Hybrid vehicle sales jumped 27.5% in the same period. 
Why It Matters: In February, Ford CEO&nbsp;Jim Farley addressed the possible impact of the proposed&nbsp;<a href="https://www.benzinga.com/tech/25/02/43524700/ford-ceo-jim-farley-says-trumps-proposed-tariffs-on-mexico-canada-will-be-manageable-in-near-term-but-will-have-huge-impact-if-protracted" target="_blank" rel="noreferrer noopener">25% tariffs on imports from Mexico and Canada</a>, which will take effect on Tuesday. While a few weeks of tariffs will be manageable, prolonged tariffs will have a huge impact on the auto industry and mean higher prices for customers, he said.
Farley also called for &#8220;comprehensive&#8221; tariffs that impact Asian automakers including Hyundai, Kia, and Toyota who import their vehicles into the U.S. from countries like Japan or South Korea. 
"…if we're going to have a tariff policy…it better be comprehensive for our industry. We can't just cherry pick one place or the other because this is a bonanza for our import competitors," he added.
Ford&#8217;s <a href="https://www.benzinga.com/tech/25/02/44000938/stellantis-executive-chairman-speaks-out-against-tariffs-on-vehicles-made-in-mexico-canada-real-opportunity-is-4m-cars-that-are-sold-in-america-that-dont-have-any-us-content">Mach-E is manufactured</a> at the company&#8217;s Cuautitlán Stamping and Assembly Plant in Mexico. 
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a href="https://www.benzinga.com/topic/mobility" target="_blank" rel="noreferrer noopener">following this link.</a>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/25/03/44100938/tesla-supercharger-in-littleton-massachusetts-set-on-fire-ev-company-says-no-customers-were-charging">Tesla Supercharger In Littleton, Massachusetts Set On Fire: Elon Musk-Led EV Giant Says No Customers Were Using Them</a></li>
</ul>
Photo courtesy: Shutterstock

Ford's Mustang Mach-E Leads Company's US EV Sales In Feb But Trump Tariffs Threaten Future

In light of potential tariff threats from President Donald Trump, Pfizer Inc.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) CEO Albert Bourla has suggested the possibility of shifting the company&#8217;s overseas manufacturing to its U.S. facilities.
What Happened: At the TD Cowen healthcare conference, Bourla indicated that Pfizer, which already boasts an extensive U.S. manufacturing network, could relocate production to its domestic plants to avoid any potential tariffs, reported Reuters on Monday.
His remarks come as the pharmaceutical industry braces for a possible 25% tariff on imported goods. &#8220;We&nbsp;have the capabilities here (in&nbsp;the U.S.) and the manufacturing&nbsp;sites are operating in good&nbsp;capacity right now. If something&nbsp;happens, we will try to&nbsp;mitigate it by transferring from&nbsp;manufacturing sites outside to the&nbsp;manufacturing sites here,&#8221; Bourla said.
Pfizer has 10 manufacturing facilities and two distribution centers in the United States. 
SEE ALSO:<a href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets"> </a><a href="https://www.benzinga.com/news/25/03/44092335/trumps-tariffs-threaten-canada-mexico-china-and-american-wallets">Trump&#8217;s Tariffs Threaten Canada, Mexico, China — And American Wallets</a>
Why It Matters: This development follows a&nbsp;<a href="https://www.benzinga.com/markets/25/02/43906811/trump-reportedly-warns-big-pharma-move-manufacturing-to-us-or-face-tariffs">warning</a>&nbsp;from Trump to pharmaceutical companies in February. During a confidential meeting, the President urged drug companies to expedite the transfer of their overseas production to the U.S. or face the possibility of tariffs.
Among the attendees of this meeting were the CEOs of Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>), and Pfizer, along with the head of the industry's largest lobbying group. The executives aimed to convince Trump to support measures targeting middlemen blamed for increasing out-of-pocket costs and to limit a law allowing the federal government to negotiate specific drug prices.
Though the Trump administration has hinted at possible exemptions to reciprocal tariffs for certain sectors, including pharmaceuticals, a final decision is yet to be made.
While many see reshoring as a potential solution to avoid tariffs, it may not be pragmatic. Independent healthcare analyst Joshua P. Cohen wrote in Forbes, &#8220;..this takes time and is logistically complex.&#8221; He stated that generic products might call for volume purchase guarantees, and a public-private partnership may be required to boost infrastructure and regulatory compliance. &#8220;Whether the Trump administration is prepared to co-invest in a long-term strategy remains to be seen,&#8221; says Cohen.
<ul>
<li>READ MORE: <a href="https://www.benzinga.com/general/social-media/25/03/44100560/reddit-co-founder-alexis-ohanian-joins-frank-mccourts-tiktok-bid-amid-competition-from-mrbeast-jesse-tinsley-and-reid-rasner">Reddit Co-Founder Alexis Ohanian Joins Frank McCourt&#8217;s TikTok Bid Amid Competition From MrBeast, Jesse Tinsley, And Reid Rasner</a></li>
</ul>
Image via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Pfizer CEO Says Company May Shift Overseas Manufacturing To US Amid Looming Tariff Threats: 'Will The Trump Administration Co-Invest', Asks Analyst

BNY intends to use the net proceeds from the sale of the depositary shares for general corporate purposes, as further described in the preliminary prospectus supplement.
BNY intends to use the net proceeds from the sale of the depositary shares for general corporate purposes, as further described in the preliminary prospectus supplement.

Reported Earlier, BNY Prices $500M Public Offering Of Depositary Shares Linked To 6.300% Series J Preferred Stock, Expected To Close March 10

PTLO

Reported Earlier, Portillo's Engages With Shareholders As Engaged Capital Seeks Board Seats At 2025 Annual Meeting

Humana announced that it has priced a public offering of $1.25 billion in aggregate principal amount of senior notes. These senior notes are comprised of $750 million of the company's 5.550 percent senior notes, due 2035, at 99.885 percent of the principal amount and $500 million of the company's 6.000 percent senior notes, due 2055, at 98.951 percent of the principal amount (collectively, the "Senior Notes Offerings"). The Senior Notes Offerings are expected to close on March 5, 2025, subject to the satisfaction of customary closing conditions.

Reported Earlier, Humana Prices $1.25B Debt Offering, Including $750M 5.550% Senior Notes Due 2035 And $500M 6.000% Senior Notes Due 2055

Smart Sand (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SND#NASDAQ">SND</a>) reported quarterly earnings of $0.08 per share which missed the analyst consensus estimate of $0.09 by 11.11 percent. This is a 166.67 percent increase over losses of $(0.12) per share from the same period last year. The company reported quarterly sales of $91.40 million which beat the analyst consensus estimate of $65.90 million by 38.69 percent. This is a 47.55 percent increase over sales of $61.95 million the same period last year.

Earnings

Earnings Beats

Earnings Misses

Smart Sand Q4 2024 GAAP EPS $0.08 Misses $0.09 Estimate, Sales $91.40M Beat $65.90M Estimate

ATCH

Reported Earlier, AtlasClear Reports 800% Market Cap Increase And Strong Subsidiary Performance With 2024 Revenues Exceeding $13.2M

U.S. markets suffered a steep selloff Monday as President Donald Trump announced sweeping new tariffs, extending last week&#8217;s losses and driving declines <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">across all major sectors</a>.
What Happened: The S&amp;P 500 tracked by The SPDR S&amp;P 500 (NYSE:&nbsp;SPY) closed at 5,849.72, sinking 1.76%, continuing its retreat from 5,983 on Feb 24. The Nasdaq-100 monitored by Invesco QQQ Trust, Series 1 (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell to 20,425.58, down from 21,352 a week earlier, marking a significant correction from recent highs.
Technology stocks bore the brunt of the selloff, with NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) plummeting 8.63% and ARM Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARM#NASDAQ">ARM</a>) dropping 8.05%. The sector&#8217;s decline follows a brutal week where AppLovin (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APP#NASDAQ">APP</a>) had already lost 20.64% and Super Micro Computer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) fell 19.67% between Feb. 24-28, according to <a href="https://pro.benzinga.com/dashboard">data from Benzinga Pro</a>.
However, some stocks showed positive performance amid the broader market selloff, according to the Benzinga Stock Heat Map. 
In chemicals and allied products, Eli Lilly &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) gained 0.83%, while Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) and Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) also edged higher. Philip Morris International Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PM#NYSE">PM</a>) rose 2.33% in the tobacco sector. In telecom, T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) and Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) climbed over 1.5%. Transport by air saw PHI Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PHIG#NASDAQ">PHIG</a>) gain 2.3%. Meanwhile, Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>) and PepsiCo Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PEP#NASDAQ">PEP</a>) both advanced over 1.3%.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/03/04011143/Screenshot-2025-03-04-at-11.40.56%E2%80%AFAM-1024x590.png" alt="" class="wp-image-807304" /></figure>
Industrials saw significant pressure, with Vertiv Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>) falling 10.09% and FTAI Aviation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FTAI#NASDAQ">FTAI</a>) down 7.89%. In healthcare, BeOne Medicines dropped 10.10% while Hims &amp; Hers Health (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>) declined 9.77%.
Financial stocks weren&#8217;t spared, with Robinhood Markets (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>) shedding 6.51% and SoFi Technologies (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SOFI#NASDAQ">SOFI</a>) losing 6.40%. The slide continued a trend from last week when PayPal Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PYPL#NASDAQ">PYPL</a>) had already declined 5.58%.
Consumer discretionary and staples both tumbled, with Li Auto (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LI#NASDAQ">LI</a>) plunging 10.96% and Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) falling 6.02%. Energy stocks like Ovintiv (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OVV#NYSE">OVV</a>) dropped 8.65%, while utilities Vistra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>) and Constellation Energy (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CEG#NASDAQ">CEG</a>) both fell 7.40%.
See Also:&nbsp;<a href="https://www.benzinga.com/personal-finance/25/03/44068159/nba-legend-shaq-says-his-net-worth-quadrupled-once-he-took-note-from-jeff-bezos-and-started-investing-in-things-that-change-peoples-lives" target="_blank" rel="noreferrer noopener">NBA Legend Shaq Says His Net Worth ‘Quadrupled&#8217; Once He Took Note From Jeff Bezos And Started Investing In Things That ‘Change People&#8217;s Lives&#8217;</a>
Why It Matters: The catalyst for Monday&#8217;s selloff was Trump&#8217;s announcement of 25% tariffs on imports from Canada and Mexico, plus an additional 20% tariff on Chinese goods. The Kobeissi Letter noted these increases would raise the U.S. average effective tariff to approximately 20%, levels not seen <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">since the Great Depression</a>.
Market strategist Tom Lee of Fundstrat suggested this week could mark the bottom for stocks in the <a href="https://www.benzinga.com/markets/equities/25/03/44072005/tom-lee-sees-stocks-potentially-hitting-first-half-lows-this-week-bad-news-has-gotten-priced-in">first half of 2025</a>, noting &#8220;a lot of bad news has gotten priced in&#8221; and that retail sentiment has reached bearish levels comparable to fall 2022.
Wall Street remains divided on the tariffs&#8217; impact, with Peter Schiff warning of domestic economic harm while others like Anthony Pompliano pointed to Taiwan Semiconductor&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) $100 billion U.S. investment announcement as evidence tariffs might boost <a href="https://www.benzinga.com/general/social-media/25/03/44098232/markets-tank-after-trump-confirms-more-tariffs-heres-what-wall-street-is-saying">domestic manufacturing</a>.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/personal-finance/25/03/44065932/mark-cuban-was-asked-how-hed-invest-100k-his-answer-buy-bulk-toothpaste-and-soup-for-the-best-guaranteed-return-on-investment" target="_blank" rel="noreferrer noopener">Mark Cuban Was Asked How He&#8217;d Invest $100K — His Answer? Buy Bulk Toothpaste And Soup For The ‘Best Guaranteed Return On Investment&#8217;</a></li>
</ul>
Image Via Shutterstock
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

DLTR

FTAI

Hims & Hers Health, Inc. Class A Common Stock

HIMS

HOOD

PHIG

PYPL

SMCI

SOFI

TMUS

Tech Sector Hammered As Trump's Tariff Plans Spark Market Selloff: Nvidia, ARM, Super Micro Lead Tech Bloodbath

<ul>
<li>A novel, allosteric and highly potent USP1 inhibitor, LAE120 exhibits robust tumor inhibitory activity across various xenograft models</li>
<li>Significantly accelerated the progress of drug discovery leveraging cutting-edge AI models</li>
<li>Another potential anti-tumor drug candidate, LAE118 (a mutant-selective PI3Kα inhibitor) also in IND-enabling studies</li>
</ul>
Laekna (2105.HK) announced that the U.S. Food and Drug Administration (FDA) has approved the IND for LAE120, an internally discovered USP1 inhibitor, for the treatment of advanced solid tumors.

LAEKF

Reported Earlier, Laekna Secures FDA IND Approval For LAE120, Advancing Oncology Pipeline And Global Expansion With Lilly Partnership

TNYA

Reported Earlier, Tenaya Therapeutics Prices $52.5M Public Offering Of 75M Units, Strengthening Pipeline For TN-201 & TN-401

Health Care

Press Releases

Praxis Precision Medicines to Showcase Updates from Largest Epilepsy Pipeline of Precision Epilepsy Programs at the 2024 American Epilepsy Society Annual Meeting

Comments

Praxis Precision Medicine

Actualités

Dernières nouvelles pour Praxis Precision Medicine (NASDAQ:PRAX) Stock

Les gens regardent aussi

Notizie

PARTENAIRE / CONTRIBUTEUR

BENZINGA MONDIAL