Core Viewpoint - The fourth quarter of 2025 experienced a sharp 5% sell-off followed by a quick recovery, with global stocks reaching all-time highs, influenced by concerns over a potential AI bubble and subsequent strong earnings from NVIDIA [4][5]. Portfolio Performance & Attribution - The Polen Global Growth Composite Portfolio returned -2.5% gross of fees and -2.7% net of fees in Q4 2025, underperforming the MSCI All Country World Index, which returned +3.3% [7]. - Top relative contributors included Eli Lilly, Alphabet, and Shopify, while Oracle, Paycom Software, and CoStar Group were the largest detractors [7][8]. - Eli Lilly's stock rallied over 40% in Q4 due to strong financial results and a favorable agreement on drug pricing, despite earlier concerns [8]. - Oracle's performance reversed from the previous quarter, primarily due to skepticism regarding its future revenue tied to OpenAI, impacting its stock negatively [9]. Portfolio Activity - New positions were initiated in Tencent Holdings and Spotify, while positions in Sage Group, Willis Towers Watson, ICON Plc, and Workday were eliminated to fund these investments [10][11]. - Tencent has shown consistent earnings growth of over 30% annually for the past three years, and its valuation is considered reasonable for sustainable revenue growth [11]. - Spotify is viewed as a leading streaming network with significant growth potential, expecting over 20% annual free cash flow growth for the next five years [12]. Outlook - The datacenter capital expenditure cycle is expected to continue, driven by increasing demand and supportive government policies, suggesting a favorable environment for growth in revenues and earnings for key players [17]. - The portfolio is positioned to deliver above-average earnings growth, with a focus on sectors outside of the AI and datacenter themes, ensuring resilience regardless of market drivers [18].

Group 1: Sarepta Therapeutics - Sarepta Therapeutics' shares declined by over 80% last year due to safety concerns surrounding its key product, Elevidys, which targets Duchenne muscular dystrophy (DMD) [3][4] - The company had to include a boxed warning for potential liver injury and restrict access to Elevidys after two patients died from liver failure [4][6] - For 2025, Sarepta expects revenue of $1.86 billion, a decline from $1.9 billion in the previous year, indicating a drop in demand for its medicine [6] - Despite efforts to develop new medicines and potential clinical progress, these products are not expected to impact financial performance in the near term [6][7] - Concerns remain regarding the safety of Sarepta's pipeline products, which could further affect investor confidence [7] Group 2: Teladoc Health - Teladoc Health has faced slow to non-existent revenue growth and accumulated net losses in recent years [8] - Increased competition in the telemedicine space has undermined Teladoc's market share, particularly affecting its virtual therapy platform, BetterHelp, which has seen a decline in paying members [9][10] - The company is attempting to improve its situation by seeking broader insurance coverage for BetterHelp and expanding internationally, but challenges similar to those faced domestically are anticipated abroad [12][13] - Teladoc's market cap stands at $1.1 billion, with a current price of $6.16, reflecting ongoing struggles in the market [11][12]

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Aquestive Therapeutics, Inc. (Beta Bionics) due to significant stock losses following a disappointing earnings announcement [2][5]. Group 1: Company Overview - Aquestive Therapeutics, Inc. is also referred to as Beta Bionics and is listed on NASDAQ under the ticker BBNX [2]. - The company experienced a significant decline in its stock price, with shares plunging approximately 37% on January 9, 2026, after announcing expectations of fewer patient starts in the fourth quarter than analysts had estimated [5]. Group 2: Legal Investigation - The investigation by Faruqi & Faruqi focuses on whether Beta Bionics issued misleading statements or failed to disclose important information that could affect investors [5]. - Investors who suffered significant losses in Beta Bionics stock or options are encouraged to contact the law firm to discuss their legal rights [1].

Core Viewpoint - Faruqi & Faruqi, LLP is investigating potential claims against Vistagen Therapeutics, Inc. due to allegations of violations of federal securities laws related to misleading statements about the company's clinical trial results [2][5]. Group 1: Legal Investigation and Claims - The law firm is encouraging investors who suffered losses in Vistagen between April 1, 2024, and December 16, 2025, to discuss their legal rights [1]. - A federal securities class action has been filed against Vistagen, with a deadline of March 16, 2026, for investors to seek the role of lead plaintiff [2]. - The complaint alleges that Vistagen and its executives made false statements regarding the likelihood of success in the PALISADE-3 clinical trial, which misled investors and caused them to purchase shares at inflated prices [5]. Group 2: Clinical Trial Results and Market Impact - On December 17, 2025, Vistagen announced that its PALISADE-3 study for fasedienol failed to meet its primary efficacy endpoint, leading to a significant stock price drop of over 81%, opening at $0.88 per share [6]. - The study did not demonstrate statistically significant improvement in anxiety reduction compared to placebo, which contradicted previous positive assertions made by the company [5][6]. Group 3: Firm Background and Contact Information - Faruqi & Faruqi, LLP is a national securities law firm with a history of recovering hundreds of millions of dollars for investors since its founding in 1995 [4]. - The firm is also seeking information from whistleblowers, former employees, and shareholders regarding Vistagen's conduct [8].

SAN DIEGO, Jan. 21, 2026 (GLOBE NEWSWIRE) -- Erasca, Inc. (Nasdaq: ERAS), a clinical-stage precision oncology company singularly focused on discovering, developing, and commercializing therapies for patients with RAS/MAPK pathway-driven cancers, today announced the pricing of an upsized public offering of 22,500,000 shares of its common stock. The shares of common stock are being sold to the public at a price of $10.00 per share. All of the shares of common stock to be sold in the public offering are to be ...

Market Overview - The stock market experienced a significant rally due to positive developments in international trade, particularly the suspension of planned tariffs on EU countries by President Trump [1] - Major U.S. stock indexes saw notable gains, with the Dow Jones Industrial Average increasing by 1.2% to 49,077.23, the S&P 500 rising by 1.16% to 6,875.62, and the Nasdaq adding 1.18% to 23,224.82 [1] Company Highlights - **Intel Corporation (NASDAQ:INTC)**: - Intel's stock rose by 11.72% to close at $54.25, nearing its 52-week high of $54.41, with an after-hours gain of 1.2% to $54.92 [2] - Anticipation builds for Intel's fourth-quarter earnings report, expected to show earnings per share of 8 cents and revenue of $13.38 billion, following a previous quarter where revenue was $13.65 billion and earnings per share were 23 cents [3] - **Moderna Inc (NASDAQ:MRNA)**: - Moderna shares surged by 15.84% to $49.81, reaching a 52-week high of $50, with an after-hours increase of 4.4% to $52 [4] - Investor enthusiasm is driven by a recent update on a cancer therapy study in collaboration with Merck & Co, which showed significant improvements in recurrence-free survival for melanoma patients [5] - **The Metals Company Inc (NASDAQ:TMC)**: - TMC's stock climbed by 13.31% to $8.17, with an after-hours increase of 9.4% to $8.94 [6] - The company welcomed a new rule from the National Oceanic and Atmospheric Administration that modernizes regulations for deep seabed mining permits, aligning with TMC's strategy for transitioning to commercial production [7] - **Microsoft Corporation (NASDAQ:MSFT)**: - Microsoft's stock fell by 2.29% to $444.11, remaining below its 52-week high of $555.45 [8] - CEO Satya Nadella emphasized the need for artificial intelligence to deliver tangible benefits to maintain public trust, particularly in sectors like healthcare and education [8] - **Lucid Group Inc (NASDAQ:LCID)**: - Lucid's stock jumped by 17.88% to $11.47, with an expansion of its manufacturing partnership in Saudi Arabia enhancing its growth outlook [9] - The collaboration with Rockwell Automation aims to implement advanced manufacturing systems at Lucid's plant, providing real-time visibility and control over production lines [10]

生殖健康服务获取、障碍与 保障措施： 2026年美国运营企业须知 2026年1月 BSR | 生殖健康、数据与风险：2026年美国运营企业须知 关于此报告 该报告由林爱诗和詹·斯塔克撰写。残留的错误是作者的责任。请将意见或问题发送至alin@bsr.org，联系 林爱诗。 本报告分析了美国生殖健康政策的变化如何为企业跨州运营创造新的和不断演变的风险。它旨在帮助公司 了解2026年对员工健康、数据隐私和运营决策的启示。 该分析基于对联邦和州政策发展、监管行动及相关研究（截至2025年）的公开信息回顾，并参考了专家意 见。鉴于法律环境迅速变化，该分析结果反映了发布时的状况。 该报告主张，生殖健康限制现在已成为系统性商业风险，其影响已超越福利范围，直接作用于医疗保健获 取、现有劳动力市场以及数据治理。报告梳理了上一年度的主要趋势，考察了联邦和各州的进展情况，并 最终提出了需要关注的问题以及商业准备的实际考量。 这份报告得到了几个基金会的支持才得以完成。 致谢 作者感谢阿莱杭德拉·卡拉巴尔和妮可·奥泽的专业审阅和见解。 免责声明 BSR会以不定期出版论文的方式，为理解商业在社会中的角色以及与公司社会责任和负责任商业实 ...

NEW YORK, Jan. 21, 2026 (GLOBE NEWSWIRE) -- The Gross Law Firm issues the following notice to shareholders of Vistagen Therapeutics, Inc. (NASDAQ: VTGN). Shareholders who purchased shares of VTGN during the class period listed are encouraged to contact the firm regarding possible lead plaintiff appointment. Appointment as lead plaintiff is not required to partake in any recovery. CONTACT US HERE: https://securitiesclasslaw.com/securities/vistagen-therapeutics-inc-loss-submission-form/?id=183185&from=3 CLASS ...

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VANCOUVER, BC / ACCESS Newswire / January 21, 2026 / FutureGen Industries Corp. (formerly Right Season Investments Corp.) (TSXV:LITT) ("FutureGen Industries" or the "Company") is providing an update to its shareholders regarding the Company's expanded investment mandate focused on innovation-driven, high-growth technology sectors. The Company reports that, further to its press release dated June 19, 2025, it intends to advance its strategy by pursuing investment exposure through investments in companies ope ...