Stock Alert: Unity Biotechnology Falls To New 52-week Low
Court tosses Tiffany’s $21M judgment against Costco over fake ‘Tiffany’ rings
A federal appeals court on Monday overturned Tiffany’s $21 million judgment against Costco over the warehouse club chain’s sale of unbranded diamond engagement rings bearing the “Tiffany” name.
In a 3-0 decision, the 2nd US Circuit Court of Appeals in Manhattan said it agreed with Costco that its use of the word “Tiffany” was unlikely to confuse customers, and that Costco was entitled in good faith to describe the style of its rings even if confusion were likely.
Tiffany had sued Costco on Valentine’s Day in 2013 for trademark infringement, accusing the chain of counterfeiting.
Costco countered that “Tiffany” had become a generic term, and that it had removed “Tiffany” from store signage within one week of being contacted by that company.
The appeals court returned the case to a federal district court for a new trial.
Lawyers for Tiffany and Costco did not immediately respond to requests for comment.
Tiffany sued to protect its brand and cachet as one of the world’s best-known luxury retailers.
An estimated 3,349 customers bought Tiffany-set rings at Costco during the relevant period.
The $21 million award included $8.25 million in punitive damages, $11.1 million representing triple Tiffany’s lost profit from Costco’s alleged infringement, and interest.
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Lunch Special: Denver sports live chat with Mark Kiszla – The Denver Post
Got a question about Colorado sports? The Denver Post’s Mark Kiszla is discussing all things Denver sports in a live Lunch Special chat, scheduled to begin at noon on Monday, Aug. 17, 2020.
Mobile users, if you can’t see the live blog, tap here.
Walgreens Makes Influenza Vaccine Available At All Its Pharmacies
Walgreens said Monday that it is offering influenza vaccine at all of its 9,100 pharmacies, with additional safety measures. The move is in view of the upcoming flu season.
The drugstore chain said that it will take patients’ temperature and screen for the presence of symptoms or illness, before giving the influenza vaccines, also known as flu shots. It asked patients to wear face masks.
It has also asked pharmacy team members to wear plastic face shields for additional protection.
The company has guided that patients could get their flu shots by walk-in or schedule an appointment via Walgreens Find Care through the Walgreens app or online during pharmacy hours, including evenings, overnights at 24-hour pharmacy locations, weekends and holidays.
The company estimates that 60 percent of U.S. adults will get an influenza vaccine, in this fall, compared to 45 percent of U.S. adults got vaccinated during the 2018-19 influenza season.
The Centers for Disease Control and Prevention or CDC recommends that everyone over 6 months of age get a flu shot to help protect themselves and their communities from vaccine-preventable illnesses.
Walgreens said it provides flu immunizations for anyone over the age of 4 and age restrictions vary based on state regulations. The flu shot is free, no cost to the patients, who are covered under any insurance scheme.
Exam results fiasco: Did ministers fail the test?
On this edition of the Sky News Daily podcast with Dermot Murnaghan, we examine the government’s handling of the A-levels fiasco.
We are joined by Welsh student Maia Gould and her dad Ashley. There is analysis from our political correspondent Tamara Cohen, and writer Timandra Harkness looks at the algorithm controversy.
Listen to the Daily podcast on Apple Podcasts, Google Podcasts, Spotify, Spreaker
Podcast producer – Annie Joyce
Podcast producer – Nicola Eyers
Assistant producer – Sabah Choudhry
Interviews producer – Oli Foster
Cuomo Says N.Y. Gyms Can Open Aug. 24 With 33% Capacity, Masks
New York Governor Andrew Cuomo said gyms in the state can reopen as soon as Aug. 24 at 33% capacity, but customers and staff must wear masks at all times.
The fitness centers also must meet strict health and air-ventilation guidelines, Cuomo said Monday at a press briefing. Localities must inspect every gym before it opens or within 2 weeks of opening, and will determine whether the businesses can have indoor classes, he said.
The governor had said on August 14 that he would release guidelines on August 17 for the reopening of gyms.
Cuomo had expressed concern about the air conditioning systems in large indoor spaces, such as fitness centers and movie theaters, recirculating the virus. Gyms, led by Thousand Island Fitness Center, filed a class-action complaint against the governor in July, claiming that his executive order is unfair and unconstitutional.
The test positivity rate in New York state was 0.71% yesterday, the lowest since the outbreak began. It has been averaging 1% or less since June, and less than 1% for 10 straight days.
“On all the numbers, it’s good news,” Cuomo said.
Stock Alert: Unity Biotechnology Falls To New 52-week Low
Shares of Unity Biotechnology Inc. (UBX) are tumbling more than 62 percent or $7.73 in Monday’s morning trade at $4.70, after falling to a new 52-week low of $4.59 earlier as the company’s lead candidate, UBX0101, failed to meet the 12-week primary endpoint in a Phase 2 double-blind, placebo controlled study.
Monday, Unity Biotechnology announced the 12-week results from the Phase 2 study of UBX0101, a p53/MDM2 interaction inhibitor, in patients with moderate-to-severe painful osteoarthritis (OA) of the knee. The company noted that there was no statistically significant difference between any arm of UBX0101 and placebo at the 12-week endpoint for change from baseline in WOMAC-A, an established measurement of pain in OA.
Due to these results, Unity Biotechnology said it does not anticipate progressing UBX0101 into pivotal studies and will narrow the company’s near-term focus to its ongoing ophthalmologic and neurologic disease programs.
Unity Biotechnology has traded in a range of $4.59 to $15.44 in the past 52 weeks.