Markets

Upstream Bio announced promising data on verekitug, a lead candidate targeting the TSLP receptor, presented at the EAACI Congress. Modeling data suggests enhanced potency compared to tezepelumab, potentially offering a differentiated profile across inflammatory diseases like asthma, COPD, and CRSwNP. Phase 2 trials for CRSwNP are expected in Q3 2025, followed by severe asthma data in 2026’s first half.

Major discounts on premium audio products are currently available, including high-end home audio systems, noise-canceling headphones, and gaming headsets. Leading retailers offer substantial savings, further reduced by government subsidies. Featured products include the B&O Beosound A5, Sony WH-1000XM6, SteelSeries Nova Pro, and various models like Huawei FreeBuds Pro 4, offering diverse audio solutions at competitive prices for a limited time.

Phase 1b/2 trial data showed that epcoritamab combined with R-ICE achieved an 87% overall response rate and a 65% complete response rate in relapsed/refractory DLBCL patients, with 65% proceeding to ASCT. These results, presented at EHA, suggest epcoritamab may improve ASCT eligibility and represent a potential new treatment option.

Meta is acquiring a 49% non-voting stake in Scale AI for nearly $15 billion, marking a significant investment in the AI space. The deal will see Scale AI founder Alexander Wang, a former MIT dropout, join Meta. Scale AI provides crucial data annotation services for training AI models and counts major tech companies among its clients. The acquisition values Scale AI at approximately $29 billion.

Johnson & Johnson announced promising results from the Phase 2 RedirecTT-1 study, which evaluated TALVEY (talquetamab) and TECVAYLI (teclistamab) in extramedullary multiple myeloma (EMD) patients. The combination therapy showed an impressive 78.9% overall response rate. These findings suggest a potential off-the-shelf treatment approach for a patient population with limited options and significant unmet needs.

Douyin, the Chinese TikTok, removed 26 accounts impersonating the “Girl with a Carrying Pole,” a viral sensation. The platform took action after identifying accounts using her name and profile. The student, who gained fame after images of her carrying luggage went viral, confirmed she has no social media accounts and will not create any before university. She is working a part-time job to contribute to her family.

Sarepta Therapeutics is taking action to address safety concerns with its gene therapy ELEVIDYS for Duchenne muscular dystrophy after a second fatal liver failure case. The company is implementing a new immunosuppression regimen, pausing shipments for non-ambulatory patients, and halting dosing in its ENVISION study. Sarepta will discuss these developments in an investor call on June 16, 2025.

JD.com’s second Beijing JD Mall opened in Shuangjing, attracting crowds with government subsidies and promotions. The opening featured a display of founder Richard Liu’s original “three-foot counter,” evoking nostalgia and connecting with younger shoppers. The 50,000-square-meter mall, offering diverse products, is part of JD’s expansion, with new malls opening in other cities. The company plans to open 8-10 stores annually, focusing on high-tier and economically growing cities.

An AI company is bypassing export controls by physically transporting data to Malaysia for AI model training. Four employees are hand-carrying 4.8 petabytes of data on hard drives via air freight to avoid online data transfer restrictions. This method, previously employed for training, allows access to advanced computing resources and is a complex workaround driven by increasing difficulties in acquiring AI chips and stricter export controls.

Vipshop is concluding its 618 mid-year sale with a final push, launching major discounts tonight at 8 p.m. Expect significant reductions on various products, including 15% off or more. Flash sales from June 15th to 20th and limited-time subsidies offering up to ¥250 off select items (e.g., Tory Burch, COACH, Dyson) aim to boost sales. The “New Trend Bazaar” and “Final Sprint” will provide more deals before the event ends on June 21st.