Travel Restrictions Trip Up Tongcheng-Elong

Covid-19 flare-ups dampened tourism in the third quarter, leading to a 9.3% drop in the online travel agent’s latest quarterly revenue Key Takeaways: Following a weak third quarter, similar travel declines during China’s Oct. 1 ‘Golden Week’ make it difficult to be optimistic about Tongcheng-Elong’s fourth quarter Despite suffering from travel restrictions, Tongcheng-Elong’s position standing on shoulders of giants Tencent and Trip.com should help it over the longer term By Jony Ho Online travel agent Tongcheng-Elong Holdings Ltd.’s (0780.HK) third-quarter results announced this week were bumpy at best, hobbled by slumping tourism as…

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Gracell Bio Shares Tumble as Investors Blow Hot, Cold Over Its Cutting-Edge Cancer Treatment

Receipt of ‘orphan drug’ designation for company’s CAR-T cancer drug in the U.S. will bring financial incentives, but also underscores drug’s limited market potential Key takeaways Gracell Bio stands to benefit from tax credits and marketing exclusivity following receipt of ‘orphan drug’ status for its CAR-T cancer treatment Analysts see profitability several years away as competition heats up for treatment of relatively low-occurring cancer By Richard Barbarosa Gracell Biotechnologies Inc. (Nasdaq:GRCL), a Chinese company developing rapid cell therapy treatments for rare cancers, has created fits of both high hopes and…

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