Biogen reverses course on Alzheimer's drug. Previously, failed, now seeking approval; WeWork leadership shake-up after disastrous IPO attempt; US lawmaker seeks to classify stablecoins as securities; Geno's cheesesteaks have a new mascot; and launching a Steem-powered ecovillage
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- In Shocking Reversal, Biogen to Submit Experimental Alzheimer’s Drug for Approval - In March, Biogen halted testing on Aducanumab as an Alzheimer's drug, saying that it had failed. Now, the company says it has worked with the FDA and conducted analysis on a larger dataset that became available after testing was halted, and found that the drug does help by reducing clinical decline in early-onset patients. The article says that the earlier futility analysis was incorrect, because it had been conducted on patients who were limited to lower doses of the drug. Now, it is up to the FDA to decide whether to accept the drug based on results from a single positive trial.
- Adam Neumann is no longer chairman of WeWork's board of directors — here's who is still leading the office-sharing company - Neumann stepped down from his role as nonexecutive chairman on the company's board of directors, and is now a board observer. His new position comes with no voting rights and a $1.7 payout as SoftBank infuses the company with bailout money and simultaneously takes over control. In September, after WeWork's disastrous IPO effort, Neumann was replaced as CEO by coCEOs "Sebastian Gunningham, WeWork's former vice chairman, and Artie Minson, the company's former chief financial officer", and now his replacement on the board will be Marcelo Claure, SoftBank's chief operating officer.
- US Lawmaker Introduces Bill Classifying Stablecoins as Securities - The bill says, "The market value of such digital asset is determined, in whole or in significant part, directly or indirectly, by reference to the value of a pool or basket of assets, including digital assets, held, designated, or managed by one or more persons." It is apparently targeted at Facebook's Libra, and it's not clear how likely it is to actually become law. But, I wonder how it would affect the Steem Dollar (SBD).
- Move Over, Gritty: Whizzy the Geno's Cheesesteak Is Philadelphia's Newest Mascot - My long-standing rule of thumb is this: "If they call it a Philadelphia cheese steak, then run for the hills. It's not a cheese steak. Even in the Philadelphia area, there's a long-standing rivalry as to who has the best Cheese Steaks, Pat's or Geno's. Now the Geno's fans have a team mascot. Here's a video from the local news station.
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