Raphael Stevens

The Johnson & Johnson Janssen VaccineStephen Zenner | LightRocket | Getty ImagesCDC scientists say their investigation into a rare blood clotting issue linked to the Johnson & Johnson Covid-19 vaccine has identified 28 people who developed the potentially life threatening blockages — three of whom have died.The Food and Drug Administration and Centers for Disease Control and Prevention on April 13 asked states to temporarily halt using J&J’s vaccine “out of an abundance of caution” while it investigated six women, ages 18 to 48, who developed cerebral venous sinus thrombosis, or CVST, in combination with low blood platelets within about two weeks of receiving the shot.They recommended resuming use of the shot 10 days later after the CDC determined that the benefits of the inoculations outweighed their risks.CVST is a form of thrombosis with thrombocytopenia, or TTS, which are blood clots with a low platelet count that puts patients at risk for a stroke. Platelets actually help the blood to clot.CDC official Dr. Tom Shimabukuro said Wednesday that four of the 28 people with TTS remained in the hospital as of May 7, one of whom was in the ICU, and two have been discharged to a post-acute care facility. The remaining 19 patients have all been discharged, he said during a presentation to the CDC’s Advisory Committee on Immunization Practices. The panel voted earlier in the day to recommend the Pfizer-BioNTech vaccine for use in 12- to 15-year olds.CNBC Health & Science Read CNBC’s latest coverage of the Covid pandemic:Indian authorities warn of rare fungal infection seen in some Covid-19 patientsWHO labels a Covid strain in India as a ‘variant of concern’ — here’s what we knowWHO classifies triple-mutant Covid variant from India as global health risk’We were scared’: Asian-owned small businesses have been devastated by the double whammy of Covid and hateThe median age of the patients with TTS was 40, ranging from 18 to 59 years old. Women who were 30 to 39 years old accounted for the biggest risk group. All of the patients received the J&J shot before the pause on April 13. Out of the 28 TTS cases, 19 affected the brain with 10 of those patients suffering from a cerebral hemorrhage, Shimabukuro said.The other clots formed in the lower extremities, pulmonary arteries or other areas of the body. More

Centers for Disease Control and Prevention Director Dr. Rochelle Walensky defended the agency’s Covid-19 mask guidance policies amid widespread criticism from lawmakers and health officials.  “These issues are complex, the science is evolving, the science is moving, and we are following the science each and every day and our guidance is evolving as the science evolves,” said Walensky during a Wednesday interview on CNBC’s “The News with Shepard Smith.” Walensky pointed to the nation’s declining Covid cases and increasing vaccine rates. The U.S. positivity rate dropped to 3.1%, the lowest of the pandemic, according to Johns Hopkins University.  Nearly 59% of adults have received at least one vaccine, according to the CDC.  The CDC chief also signaled to host Shepard Smith that guidelines will be changing soon, following the agency’s endorsement of administering Pfizer and BioNTech’s Covid-19 vaccine to adolescents aged 12 to 15.”Today we have vaccines available, now for 12 to 15-year olds, [the agency’s guidelines are] going to have to evolve again, and I’m really enthusiastic about updating them very soon,” Walensky said.  Smith also asked Walensky why, if everyone in his office was vaccinated, they still had to wear masks indoors. She explained that the CDC wants to ensure that the vaccines are working against all of the variants circulating in the U.S., and that “you’re not an asymptomatic carrier if you’re vaccinated” before completely doing away with masks in indoor settings. More

The world faces a major shortage of Covid-19 vaccines, and waiving intellectual property rights won’t address the “most immediate problem,” says the global CEO of an Indian pharmaceutical firm.”I’m not so sure that an IP waiver at this stage is something that can … solve an immediate problem,” said Umang Vohra of Cipla, who sees two issues that need to be resolved.The first and most immediate problem is the need to vaccinate millions, and the second is long-term access to vaccines, he told CNBC’s “Street Signs Asia” on Wednesday.Waiving patent protections may be helpful with long-term access, but will not likely help much in the short run, Vohra said.There should be more partnerships to be able to bring more vaccines into parts of the world that currently don’t have that supply.Umang VohraGlobal CEO, Cipla”We’re more about creating access at the immediate moment because I think that’s the need of the hour,” he said.”There should be more partnerships to be able to bring more vaccines into parts of the world that currently don’t have that supply,” he added.Proposal to waive patent rightsThe Biden administration said last week it supported a proposal to temporarily lift patent protections for Covid-19 vaccines in order to boost global production of the shots. The proposal was submitted by India and South Africa, but backed by more than 100 countries.Experts are divided on the issue.Proponents say the waiver removes barriers in manufacturing vaccines and is important to prevent, treat and contain the coronavirus.Vials of the undiluted Pfizer-BioNTech vaccine for Covid-19, stored at -70 ° in a super freezer.Jean-Francois Monier | AFP | Getty ImagesHowever, the Pharmaceutical Research and Manufacturers of America criticized Biden’s team, saying that the “unprecedented step” will “undermine our global response to the pandemic and compromise safety.””This decision will sow confusion between public and private partners, further weaken already strained supply chains and foster the proliferation of counterfeit vaccines,” said Stephen J. Ubi, the group’s president and CEO.EU leaders have also questioned whether waiving patent protections is the way to go. French President Emmanuel Macron argued that laboratories overseas may not have the capability to produce the vaccines even if they obtain rights to the intellectual property.’Considerable know-how’Cipla’s Vohra agreed that there are high-level skills involved in the manufacturing of mRNA vaccines such as those developed by Pfizer-BioNTech and Moderna.”I do believe that manufacturing for these is complicated, I do believe that there exists considerable know-how,” he said. “It’s not just about IP, but it’s really about that technology and the experience that companies have had in formulating their technology.”India’s Covid crisisRead CNBC’s latest coverage of India’s battle with the coronavirus pandemic:WHO labels a Covid strain in India as a ‘variant of concern’ — here’s what we knowIndia’s worsening Covid crisis could spiral into a problem for the worldIndia is the home of the world’s biggest producer of Covid vaccines. But it’s facing a major internal shortageIndia’s economy will likely contract this quarter as Covid cases soar, economists warnHe added that large vaccine manufacturers appear to be more concerned about the fragility of the supply chain rather than a capacity shortage.Ultimately, Vohra said waiving IP protections would not instantly provide vaccines to parts of the world that don’t have access to the shots — and that’s the urgent problem.He said existing partnerships provide a template for how vaccines can be distributed.”I think if we were to step back and solve for access, that’s a better goal to solve for, and that will allow many things to sort themselves out,” he said. More

In this articlePFE22UA-DEUS President Joe Biden delivers remarks on Covid-19 response and the vaccination program, from the South Court Auditorium of the White House, Washington, DC on May 12, 2021.Nicholas Kamm | AFP | Getty ImagesPresident Joe Biden on Wednesday urged parents to get their children vaccinated, shortly before the Centers for Disease Control and Prevention approved the use of Pfizer and BioNTech’s Covid-19 vaccine for adolescents ages 12 to 15.Earlier Wednesday, the CDC’s Advisory Committee on Immunization Practices, or ACIP, issued its recommendation, which was adopted 14-0 with one abstention. CDC Director Dr. Rochelle Walensky gave her final approval to the endorsement later in the day.During a press conference, Biden said the endorsement was “one more giant step in our fight against the pandemic.”Nearly 17 million Americans are now eligible to get vaccinated, Biden said during a speech on the White House’s Covid-19 response and vaccination campaign. “I encourage each of them and their parents to get their vaccination shots right away,” he said.The two-dose vaccine was found to be 100% effective in the clinical trial of 12- to 15-year-olds. The most commonly reported side effects were pain at the injection site and in joints and muscles, tiredness, headache, chills and fever, Pfizer scientist Dr. John Perez told the CDC panel earlier Wednesday. Side effects usually resolved within one to two days, he said.The Biden administration is working to make the Pfizer-BioNTech vaccine available in more places across the U.S., including at pediatricians’ offices and local pharmacies, according to senior administration officials.The CDC has launched an effort, in partnership with states, to enroll more pediatricians and family practitioners as Covid vaccination providers to expand access to shots over the coming weeks, they said. The CDC will also partner with community health centers to make vaccinations available for teens.The CDC panel’s endorsement comes ahead of summer camp season and the Fourth of July — a date the Biden administration is hoping will mark a turning point in the nation’s battle against the virus. More than 3.3 million people across the world have died from Covid-19 so far, almost 600,000 of them in the U.S., according to data compiled by Johns Hopkins University.Vaccinating children is seen as crucial to ending the pandemic. The nation is unlikely to achieve herd immunity — when enough people in a given community have antibodies against a specific disease — until children can get vaccinated, health officials and experts say.As of Tuesday, more than 150 million Americans age 18 and older have received at least one dose, according to data compiled by the CDC. Roughly 115 million American adults are fully vaccinated, according to the CDC. About 13% of adults say they definitely won’t get a vaccine while 21% say they will “wait and see” or will get one only if required, according to the Kaiser Family Foundation. More

In this article22UA-DEPFEThe Centers for Disease Control and Prevention on Wednesday signed off on expanded usage of Pfizer and BioNTech’s Covid-19 vaccine for 12- to 15-year-olds, clearing the way for pediatricians to start giving out the shots across the U.S. as early as Thursday.The recommendation from CDC Director Dr. Rochelle Walensky comes hours after the Advisory Committee on Immunization Practices endorsed the change, which was adopted 14-0 with one abstention. Two days earlier, the Food and Drug Administration approved Pfizer and BioNTech’s request to allow their shot to be given to young teens on an emergency use basis.President Joe Biden called the endorsement “one more giant step in our fight against the pandemic.”During Wednesday’s meeting, CDC officials said there were no serious adverse events associated with the Pfizer-BioNTech shot in 12- to 15-year-olds out of more than 2,000 children in the companies’ clinical trial. Most vaccine recipients, 91%, experienced side effects of some kind.The most commonly reported side effects were pain at the injection site and in joints and muscles, tiredness, headache, chills and fever, Pfizer scientist Dr. John Perez told the panel. With the exception of pain at the injection site, more adolescents reported side effects after the second dose than after the first. Side effects usually resolved within one to two days, he said.The CDC panel’s endorsement comes ahead of summer camp season and the Fourth of July — a date the Biden administration is hoping will mark a turning point in the nation’s battle against the virus. More than 3.3 million people across the world have died from Covid-19 so far, almost 600,000 of them in the U.S., according to data compiled by Johns Hopkins University.After Wednesday’s vote, several members expressed excitement that members of their own family could now get vaccinated. Others noted that access to the shots will help kids return to some normalcy after suffering a year of mental and social challenges due to the pandemic.”My husband and I are vaccinated. My 16-year-old is vaccinated. Now my 12- and 15-year-olds will be in line,” ACIP member Helen Keipp Talbot said.The panel’s recommendation will “help us close a difficult chapter for many kids & families,” Andy Slavitt, the White House’s top official on the nation’s Covid-19 response plan, said over Twitter.Vaccinating children is seen as crucial to ending the pandemic. The nation is unlikely to achieve herd immunity — when enough people in a given community have antibodies against a specific disease — until children can get vaccinated, health officials and experts say.Children make up around 20% of the total U.S. population of 331 million, according to government data. Between 70% and 85% of the U.S. population needs to be vaccinated against Covid to achieve herd immunity, experts say, and some adults may refuse to get the shots. More experts now say, though, that herd immunity is looking increasingly unlikely as variants spread.As of Tuesday, more than 150 million Americans age 18 and older have received at least one dose, according to data compiled by the CDC. Roughly 115 million American adults are fully vaccinated, according to the agency. About 13% of adults say they definitely won’t get a vaccine while 21% say they will “wait and see” or will get one only if required, according to the Kaiser Family Foundation.CNBC Health & Science Read CNBC’s latest coverage of the Covid pandemic:Indian authorities warn of rare fungal infection seen in some Covid-19 patientsWHO labels a Covid strain in India as a ‘variant of concern’ — here’s what we knowWHO classifies triple-mutant Covid variant from India as global health risk’We were scared’: Asian-owned small businesses have been devastated by the double whammy of Covid and hateCDC officials told the panel that research shows vaccine hesitancy among parents, with only about 46% to 60% who said they wanted to get their kids vaccinated. Reasons for not getting the shots included concerns about safety, the time it took to develop the vaccine and not having enough information, officials said.Acting FDA Commissioner Dr. Janet Woodcock on Monday assured parents that the U.S. agency “undertook a rigorous and thorough review of all available data” before clearing it for use in younger teens.CDC official Dr. Megan Wallace said Wednesday that serious adverse events were more common among vaccine than placebo participants, 0.4% versus 0.2%, but none of them were attributed to the shots.Perez said one adverse event that was associated with the vaccine was lymphadenopathy, which is a swelling of lymph nodes. In the clinical trial, there were nine cases in the vaccine group, with seven related to the shot. Two cases were in the placebo group, he said. There were no cases of anaphylaxis, according to a slide presented at the meeting. There were also no cases of Bell’s palsy — a rare issue that’s cropped up in some adult vaccine recipients — or blood clots, Perez said.The vaccine was found to be 100% effective in the clinical trial of 12- to 15-year-olds. No deaths were reported. More serious side effects were more common in the vaccine group, with about 11% reporting things such as pain at the injection site that prevented daily activity, severe fever, headache or muscle pain. More

In this articleARKKARKFInvestors in technology stocks should buckle up for a wild ride as the group turns toxic in a rising inflation environment, CNBC’s Jim Cramer said Wednesday.”If you own the turbo-charged growth stocks … you either need to steel yourself for the pain or cut your losses on the next sharp move up, because we’re in a new market that’s very different from last year,” the “Mad Money” host said. “What worked in 2020 hasn’t been working in 2021 and that’s not gonna change, so get used to it.”That explains the shellacking in stocks like Tesla, Teladoc Health, Square, Roku, Shopify, Zillow, Twilio, Spotify, Coinbase and Exact Sciences, Cramer noted. Most of their shares are down double digits in the month of May.Cramer referred to them as “WoodStocks,” dubbed after Cathie Wood, portfolio manager of the popular Ark Invest firm. The stocks make up the largest positions for Ark, whose exchange-traded funds include the ARK branded funds of Innovation, Genomic Revolution and Fintech Innovation, among others.”Cathie Wood’s fantastic at identifying [long-term growth] stocks like Twilio, but they’re not stocks for all seasons,” Cramer said. “They don’t work in this environment and … they really don’t work in any inflationary environment where bond yields are on the rise.”Commenting on the pullback in tech stocks, Wood told CNBC on Friday that she “love[s] this setup” for the company’s long-term outlook.After outperforming the major stock averages by a wide margin last year, the Nasdaq Composite has been the most volatile index since the start of the new year. The tech-heavy index dropped 2.7% in a market-wide sell-off Wednesday, driven by the inflation number.Cramer is expecting more downside in the tech cohort until inflation fears subside.”It ends when the inflation goes away or is tamed somehow,” he said. “With the exception of lumber and some semis, there’s no sign that commodities are cooling off any time soon.”DisclaimerQuestions for Cramer? Call Cramer: 1-800-743-CNBCWant to take a deep dive into Cramer’s world? Hit him up! Mad Money Twitter – Jim Cramer Twitter – Facebook – InstagramQuestions, comments, suggestions for the “Mad Money” website? [email protected] More

In this articlePOSHRafael Henrique | LightRocket | Getty ImagesShares of Poshmark and ThredUp, two leaders in the secondhand retail space, tumbled Wednesday in extended trading, as widening losses overshadowed strong sales growth in a hot category — especially among Gen Z.Poshmark’s stock was falling more than 11%, and ThredUp shares were recently down about 8%.The stock drop marred ThredUp’s first quarterly report as a public company. It debuted in March, while Poshmark shares have been public since mid-January.ThredUp shares as of Wednesday had risen more than 42% since its IPO, bringing the company’s market cap to $1.9 billion. Poshmark shares have fallen more than 55% since it went public, giving it a market value of $3.3 billion.Both businesses are digital marketplaces for secondhand clothes, shoes and accessories, somewhat akin to eBay and Etsy. Younger consumers in particular have been leading a shift to places such as Poshmark, ThredUp, Depop, The RealReal and StockX — with some favoring these stores for the bargain prices and others seeing shopping there as a way to be more conscious about the environment. These businesses have also allowed many consumers to clean out their closets during the Covid pandemic and come up with extra cash.The increasing interest in shopping secondhand has whet investors’ appetite to buy into a space that has seen momentum. But the losses sparked a sell-off on Wednesday.Here’s how both Poshmark and ThredUp did during the first quarter.PoshmarkPoshmark’s net loss for the period ended March 31 widened to $74.5 million, or $1.19 per share, from a loss of $11 million, or 89 cents a share, a year earlier. Excluding one-time charges, it lost 33 cents per share, less than the 42-cent loss that analysts polled by Refinitiv were anticipating.Revenue rose 42% to $81 million from $57.1 million a year earlier, topping analyst estimates of $77.2 million.Poshmark said it expects second-quarter revenue in the range of $79 million to $81 million. Analysts had been looking for revenue of $79.3 million, according to Refinitiv data. It’s calling for adjusted EBITDA of between $1.5 million and $2.5 million.”There’s a real meaningful shift as people are preparing for reopening,” said Manish Chandra, founder and CEO, in a phone interview. “So, we’re pretty optimistic that as people go out, go out on dates, go on trips, go to weddings — the demand for apparel, both on the demand side and on the supply side, is accelerating.”Chandra said searches for “crop tops” doubled in March from a year ago. Searches for “jean shorts” were up 85%, he said, as people visited Poshmark to buy clothes for socializing again.During the first quarter, the number of active buyers on the site rose 18% from last year to 6.7 million. An active buyer is a unique user who has purchased at least one item from Poshmark in the trailing 12 months, regardless of returns and cancellations.Poshmark continues to innovate and expand to new categories and regions. In the first quarter, it launched a pets category and expanded its business into Australia, marking its second venture overseas. It also started allowing users to market their merchandise through short video clips in addition to still photos.ThredUpthredUP Co-Founder & CEO James Reinhart speaks onstage during TechCrunch Disrupt San Francisco 2019 at Moscone Convention Center on October 02, 2019 in San Francisco, California.Kimberly White | Getty Images Entertainment | Getty ImagesThredUp is investing in new warehouses and automation to meet the demand it is seeing from customers and speed up deliveries. But that has pressured profits.ThredUp’s net loss in the period ended March 31 widened to $16.17 million, or 86 cents per share, from $13.2 million, or $1.23 per share, a year earlier. Excluding one-time items, it lost 17 cents per share.Its revenue rose 15.2% to $55.7 million from $48.3 million a year earlier. That beat estimates for $48.4 million.The company said its active buyer count grew 14% year over year to 1.29 million and orders were up 18% at 1.13 million.”We continue to be optimistic about resale’s long-term growth, and are seeing early signals of an uptick in purchasing enthusiasm as the U.S. economy reopens,” CEO and co-founder James Reinhart said in a statement.GlobalData Retail Managing Director Neil Saunders pointed out that expenses associated with ThredUp’s IPO were elevated in the first quarter and that those costs should fade out over time.”The pandemic has accelerated the interest in resale apparel … and this has swelled the number of consumers who are active in the circular economy – even at a time when overall demand for apparel remains somewhat suppressed,” Saunders said.ThredUp is calling for second-quarter revenue to be in a range of $53 million to $55 million. Its full-year outlook for sales is a range of $223 million to $229 million. More