Markets

Innovent Biologics will present research findings at the 34th EADV Congress, showcasing data on IBI112 (picankibart) and preclinical results for IBI3013 and IAR129 via ePosters. Presentations include post-hoc analyses from Phase 2 and 3 trials of picankibart in psoriasis patients, focusing on efficacy in specific areas like the scalp and genitals, as well as comparisons between biologic-experienced and naive patients. Data on IBI3013, targeting IL-15, and IAR129, a bispecific antibody targeting IL-4R/OX40L for atopic dermatitis, will also be presented.

EnviroGold Global (ESGLF) announced a private placement aiming to raise up to C$5 million at C$0.09 per unit, with each unit including a share and a warrant to purchase another share at C$0.13. Funds will support technology development, demonstration plant operations for their NVRO Process™, debt reduction, and working capital. The offering is expected to close by October 15, 2025, pending regulatory approval. Some EnviroGold directors and officers may participate, relying on specific exemptions.

The combined wealth of Elon Musk, Larry Ellison, and Mark Zuckerberg has reached $1.03 trillion, approaching Berkshire Hathaway’s market cap. This wealth surge stems from their significant equity stakes in Tesla, Oracle, and Meta, driven by investor enthusiasm for AI advancements. Ellison’s wealth nearly doubled this year due to Oracle’s cloud and AI focus, while Zuckerberg’s increased with Meta’s strategic shift and AI integration. Musk may become the first trillionaire under a potential Tesla compensation plan tied to an $8.5 trillion valuation.

Legence (LGN) successfully completed its IPO on September 12, 2025, offering 26 million Class A shares at $28 per share. Underwriters exercised part of their option, purchasing an additional 3.48 million shares. The IPO, led by Goldman Sachs and Jefferies, generated approximately $780.2 million in net proceeds. Legence plans to use these funds to repay term loan debt and for general corporate purposes, aiming for stable growth and long-term value creation.

A Spelman College team won the Moguls in the Making competition, a collaboration between Ally Financial and the Thurgood Marshall College Fund. Their winning fintech platform, “Prospera,” aims to support women-owned small businesses in Detroit and beyond by fostering financial well-being. The competition engaged HBCU students in addressing economic mobility challenges, providing them with mentorship, learning experiences, and exploring AI’s role in business. Hampton University and North Carolina A&T State University secured second and third place, respectively, with innovative solutions addressing food insecurity and access to funding for small businesses.

In Quanzhou, Fujian, an intoxicated man was caught on security footage repeatedly kicking elevator doors, causing significant damage and a shutdown. Trapped inside, he was rescued by emergency responders and handed over to the police. After mediation, he was ordered to pay 10,000 yuan for the damages. The incident highlights the consequences of reckless behavior while intoxicated, raising questions about accountability and underscoring societal intolerance for alcohol-fueled misconduct. It also emphasizes the need for enhanced elevator safety measures and smart technologies.

Kyverna Therapeutics will present interim Phase 2 KYSA-6 trial results for KYV-101 in myasthenia gravis at the AANEM meeting in October 2025. Data from six patients with up to 9 months follow-up will be shared. KYV-101, a CD19 CAR T-cell therapy, aims for durable remission after a single dose. The study has been upgraded to a registrational Phase 2/3 trial, with Phase 3 initiation planned by year-end 2025. The presentation by Dr. Srikanth Muppidi will be on October 29th.

Docusign’s Intelligent Agreement Management (IAM) platform achieved FedRAMP Moderate authorization, enabling secure and compliant agreement solutions for U.S. federal agencies. This empowers agencies to modernize agreement processes, increase efficiency, improve service delivery, and unlock insights with AI. IAM facilitates digital transformation, replacing outdated paper-based workflows with AI-enhanced processes, improving security, and reducing costs. Agencies can now confidently deploy Docusign’s IAM to manage agreements faster and more securely, furthering government initiatives for digital services and cloud-based solutions.

Chinese restaurant chain XiBei’s public apology following criticism, including rebuttals from entrepreneur Luo Yonghao, highlights the importance of effective online public relations. Commentator Hu Xijin notes XiBei’s strong offline operations but disastrous PR, emphasizing the need for authenticity. The article suggests XiBei should focus on customer service and transparency to recover, rather than seeking quick online fixes. The case demonstrates how a disconnect between offline performance and online presence can damage brand reputation in the digital age, requiring companies to prioritize genuine engagement.

Harbor Capital Advisors celebrates the third anniversary of the Harbor International Compounders ETF (OSEA). Partnering with C WorldWide, OSEA offers a concentrated portfolio of approximately 30 high-performing international “compounders” selected based on fundamental research and long-term secular themes. The ETF prioritizes company fundamentals over geography, targeting resilient businesses with strong growth and cash flow. As of June 30, 2025, OSEA at NAV has a 3-year average annual return of 14.11% and 15.07% since inception (9/7/22). Performance data is past performance and not a guarantee of future results.