Issues with Rolls-Royce Holdings PLC's (LSE:RR.) Trent 7000 engine "could become an issue" said Citigroup after an aerospace magazine ran an article about its reliability being "under the spotlight".
Analysts at Citi said the commentary in the Leeham News article appears to focus on time-on-wing, "which is durability", ie how long the engine lasts between overhauls, versus reliability, whether it breaks down unexpectedly.
Merck KGaA shares fell by as much as 10% after the company announced the termination of its phase III trial of xevinapant in neck cancer. The interim analysis revealed that the study is unlikely to meet its primary objective, prompting the halt.
The TrilynX trial evaluated xevinapant, an apoptosis protein inhibitor, in combination with chemo-radiotherapy for patients with unresected locally advanced squamous cell carcinoma of the head and neck (LA SCCHN).
AstraZeneca PLC (LSE:AZN) has put out mixed data for the Phase III trials of its immuno-oncology (IO) drug Imfinzi, notes broker ShoreCap.
There was a positive result from the phase III NIAGARA trial looking at its use perioperatively (either side of surgery) for the treatment of bladder cancer (MIBC).
3i Group PLC (LSE:III) has been hit with a downgrade from UBS, which reckons after the shares hit a five-year high recently have few catalysts to go higher still.
Since October 2022, shares in the private equity investment trust have trebled to 3,105p but following the recent financing for Dutch retailer Action, UBS says "what’s next?"
HeLIX Exploration PLC (AIM:HEX) has enhanced its portfolio with the addition of the Rudyard helium asset in Hill County, Montana.
The acquisition cost was a combination of $250,000 in cash and 600,000 shares for Rudyard, an asset that comprises 525 million cubic feet (mm cf) of helium and 2,176 mm cf of natural gas in the Souris River and Red River formations.