Global business news twenty four hours a day at Bloomberg dot Com, the Radio plus Globile last and on your radio. This is a Bloomberg Business Flash from Bloomberg World Headquarters on Katherine Cowderie and mixed. Close. As the SMP five foundered, pulled back Froben's all time high, and the NASDAK gained,
scoring another record, Treasuries rallied while the dollar fell. Disappointing retail sales added to speculation, but the Federal Reserve will be in no rush to raise interest rates this year. Data showed sales at retailers were little change in July, as wholesale prices unexpectedly fell by the most and almost a year. Futures traders now see forty two percent odds of the US rate high this year. That's down from forty nine percent yesterday. We check the markets every fifteen
minutes throughout the trading day. Dow Industrial iverage fell thirty seven points, a loss of two tenths of a percent, to close out the week at eighteen thousand, five hundred seventy six. SMP five thundered down two points a tenth of a percent four then ASTAT gained four points at
nine one tenth of a percent. I closed at fifty two thirty two West Texas Intermediate crude oil up a dollar sixteen and barrel two point seven sixty five spot goled down eight dollars at one and the tenure treasury of fifteen thirty seconds with the yield of one point zero percent. And that's a Bloomberg business flash. You're listening to taking stock with Pim Fox and Kathleen Hayes on Bloomberg Radio. All right, I want to take stock of the biotech sector. It's been all over the map lately,
but cell side analysts continue to love this. So let's bring in Steve Brozac right now, President and managing partner w BB Securities. Also a marine, also active in the political space. Also apparently, were you an Olympic fencer, Steve, I was actually competing on the Junior Olympic side, but just watching Olympics now and my former coaches, the American coach and one of the guys that they I competed against, his son just won the silver and men's foil. So
that's that's an aside. How's that? I feel like that's close enough. Junior Olympics is close enough. To Olympics. You know, right, I agree, right, but that doesn't work in investing, which is why you want a professional. Right. Okay, So you're a biotech and healthcare banker here, um, talk to me about some of the deals you maybe maybe see on the horizon. This year has been a kind of a slow deal year compared to the records that we saw last year. Yeah, and it's it's one of these situations
where you've got a tale of the best and the worst. Um. You know, We've got three companies that we look at right now that I was looking to talk about, one of which is an antibiotics company, and it's obviously something that's really critical. The company is called Sempra and they were on taking stock just about two years ago. And frankly, it's a it's a critical antibiotics play. Asked about what the company does because taking a look at the Semperate
it's down twenty five nearly so far this year. Based in Chapel Hill, North Carolina, right, and what they what they have is the next generation Z pack. It is the same sorry, um uh siro meycn is like the mainstay everyone every most A lot of people can relate to taking a pill twice and then four or five days of pills after that to deal with antibotic bacterial infections. It's it's the main stay of antibotics, but unfortunately resistance
in the United States alone. So UM, this company, what they did and what they've done is they've developed a new antibotic called Solothera, which they're looking to introduce after after approval of course, uh, for dealing with community acquired pneumonia. But the real key here is that it's applicable for
just about every other kind of bacterial infection. So basically, when you have the flu and you're dying, at least in on the Upper East Side in New York, you go to your doctor to give you a Z pack and you're gonna be just fine. Um. But a lot of people have have developed a resistance to that, and so Solithera is expected to what work in place of
it exactly. Um. It's expected to go out there and to be the go to drug for not just the infectious disease doctors, but all the doctors that are out there that are dealing with people that frankly are are significantly sick and or have other uninary tract infections. Or other types of infections where they are just not getting better. Is it worth the dollars to share? No, I think
it's worth a lot more than that. As a matter of fact, When when data came out, the stock went down, but it went down because some analysts didn't understand what they were seeing on the data side, and they finally have started to The analytical community has finally started to understand, and what you're now seeing is the stock pushing its way back based on the fact that people and investors particularly are beginning to understand that this drug will be
approved and that it is critically important in the healthcare armamentarian for doctors today. So I don't want to spend the whole the whole day on this, but basically, if that drug gets through its lithera, then I'm saying a big drug maker comes in and takes out Sempra, because candidly, this drug was one of those drugs where people just said, oh, you can't get a new antibiotic approved, and this will
be the first one in a generation. Because you really do want to see this company go out there and get other drugs into this system, and that's the critical need right now. Turn your attention now, so you too, h T two biosystems. This is developing innovative diagnostic products. Um, it is critical that we understand what we're treating. And in this case, T two is that paradigm shift. Right now, you're going to the hospital and you start to present.
You know, you're in the intensive care unit and you have like a fungal infection. It takes three to five days for them to culture and figure it out. It's ninety year old technology. T two goes out there and within three to five hours can tell you exactly what it is within specificity because of mr I technology. And so what, uh is this already out there? Is this already working or do they still have to get it
approved or get convinced hospitals to buy it. Disney Hospitals is the next step there in twenty hospitals right now and growing. Uh, you're looking at a situation where more Americans die from SEPs from sepsisce and prostate cancer, breast cancer and AIDS combined. So if you look at it, this is a critical next step. And the other part is the same technology and the same development pattern also applies for bacterial culture, bacterial analysis and for blood things.
So this is the kind of technology that we we'd like to see go into the next generation and start to help out doctors and not just in the hospitals, but eventually everywhere. All right, that's uh T two. I beg your pardon. That's um uh Systems as symbol as T T O O OMIS. I want to give you a chance just to tell us quickly about um Omeris.
They've got an approved product that they've worked through the entirety of this of the clinical approval system called Omidria, and it's used to go out there and facilitate eye surgery. It reduces the inflammation and it also reduces um any kind of pain outcomes. So you know, you look at America Grain cataract surgery, um is excuse me, a blockbuster potential and you see that. You know, the market right now is over a billion dollars with more than three
million patients needing lens replacements. So this is one of those products that is starting to make its way into into the ophthalmological surgical system. I want to thank you very much for sharing the information with us. Steve Brozac is the president and managing partner of w BB Securities, talking about Sempra, T two Bioscience Biosystems and Omaris. Thanks for listening. This is Bloomberg coming up. Bloomberg Laws brought you by cash pro, the cash management platform from Bank
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