Cel-Sci: Fiscal Q2 Earnings Snapshot
On a per-share basis, the Vienna, Virginia-based company said it had a loss of 8 cents.
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Axios
23 minutes ago
- Axios
Developer pulls plans for Heritage Square rezoning in Durham
A Chicago developer proposing a new life sciences campus near downtown Durham has pulled its rezoning application from the City Council at the 11th hour. Why it matters: The plans from Chicago-based Sterling Bay envisioned a mixed-use life sciences campus on the site of the Heritage Square shopping center on the edge of the Hayti neighborhood and across the Durham Freeway from downtown. The shopping center currently sits vacant, but was once home to a grocery store, some smaller shops and restaurants. Driving the news: The developer's plans, which were set to be heard at Monday night's Durham City Council meeting, were facing pushback from residents of Hayti, a historically Black neighborhood that has faced rising costs in recent years. Many of those residents expressed concern at the City Council meeting that a project of that size will cause property valuations across the neighborhood to soar even more, the News & Observer reported. Before the council could vote, however, Sterling Bay withdrew its application, a move that surprised the council and the dozens of people in the audience. The council ultimately voted to approve the withdrawal 5-2. Zoom in: A Sterling Bay spokesperson told Axios the company is disappointed that the project will not proceed, and noted that it's worked for the past three years to speak with residents in the neighborhood about the project. The company said it proposed $2.3 million in contributions to the local community as part of its rezoning, including scholarship money for N.C. Central University and Durham Technical Community College, a contribution to the Hayti Promise Community Development Corporation, affordable retail space and several other measures. "While the initiative will not move forward, we remain proud of the collaborative efforts that shaped it," the spokesperson said in a statement. What's next: The withdrawal means that Sterling Bay could resubmit another rezoning in six months or potentially build without it. Sterling Bay only filed the rezoning after discovering issues with the bedrock that made building underground parking more expensive and required taller buildings. The company had bought the 10-acre property for $62 million in 2022, according to county records. Sterling Bay said it was "exploring new steps" but declined to comment further on what might become of the property. Between the lines: The pulling of the rezoning also comes at a time when financing for office and lab buildings is much harder to come by.
Business Wire
23 minutes ago
- Business Wire
BioHub Maryland, Powered by the Maryland Tech Council, Partners with Bowie State University On Summer Life Sciences Training for Students
ROCKVILLE, Md.--(BUSINESS WIRE)--In a move to expand pathways into Maryland's life sciences industry, BioHub Maryland, powered by Maryland Tech Council, and Bowie State University, the state's first historically Black College/University, are partnering to give two dozen undergraduates hands-on experience in biopharmaceutical manufacturing this summer. By working with Bowie State University, we're ensuring a more robust pipeline of talent is ready to lead the next generation of biotech breakthroughs—right here in Maryland. The partnership aims to equip students with the technical skills needed to fill in-demand jobs in one of Maryland's most innovative industries. Over four weeks, students from the university's Department of Natural Sciences receive immersive, lab-based training at the BioHub Maryland Training and Education Center in Rockville— an 8,200 square-foot facility replicating real-world biopharma production environments. 'BioHub Maryland doesn't just train students—it launches careers,' said Kelly Schulz, Chief Executive Officer of the Maryland Tech Council. 'By working with Bowie State University, we're ensuring a more robust pipeline of talent is ready to lead the next generation of biotech breakthroughs—right here in Maryland.' Students will learn core biopharma manufacturing skills such as upstream processing, cell culture, and quality control—all of which are essential to the production of vaccines and other treatments. Curricula is designed by the National Institute for Bioprocessing Research and Training (NIBRT), BioHub Maryland's globally-trusted training provider. Upon completion, each student will earn a certificate recognized by life sciences employers. Training takes place at the Rockville-based BioHub Maryland Training and Education Center at Montgomery County, a state-of-the-art facility made possible by Montgomery County and the State of Maryland. The partnership between BioHub Maryland and Bowie State University accelerates Maryland's life sciences leadership. Home to 2,700 life sciences companies and 54,000 life sciences workers, the state is part of the BioHealth Capital Region, recently ranked the #3 biopharma cluster in the U.S. Bowie State's Department of Natural Sciences Chair and Professor, Dr. George Ude, and Associate Professor, Dr. Supriyo Ray, secured this opportunity for their students through a National Institute of Standards & Technology (NIST) grant. About BioHub Maryland BioHub Maryland is accelerating the life sciences industry for companies and career seekers to expand the state's global innovation advantage. A workforce initiative of the Maryland Tech Council, the largest technology and life sciences trade association in the state, BioHub Maryland enables residents of all backgrounds to compete for rewarding careers in life sciences by offering skills training, career resources, and access to job openings. BioHub Maryland also helps life sciences companies at every stage grow by showcasing their career opportunities, training the next generation of life sciences talent, and providing strategic resources for raising capital. Learn more at and follow us on LinkedIn, Instagram, Facebook, and Twitter.
San Francisco Chronicle
23 minutes ago
- San Francisco Chronicle
Trump narrows Fed chair candidates to four, excluding Treasury Secretary Bessent
WASHINGTON (AP) — President Donald Trump said Tuesday that he's whittled down his list of potential Federal Reserve chair candidates to four as he considers a successor to Jerome Powell — a choice that could reset the path of the U.S. economy. Asked on CNBC's 'Squawk Box' for a future replacement to Powell, Trump named Kevin Hassett, director of the National Economic Council, and Kevin Warsh, a former member of the Federal Reserve Board of Governors. 'I think Kevin and Kevin, both Kevins, are very good,' Trump said during an interview on CNBC's 'Squawk Box.' He said two other people were also under consideration, but Treasury Secretary Scott Bessent is not among them. 'I love Scott, but he wants to stay where he is," Trump said. He did not name his other two top candidates but used the opportunity to disparage Powell, whom he has dubbed 'too late' in cutting interest rates. The news that Trump plans to make a decision on the Fed chair 'soon' comes as the Republican president has been highly critical of current Powell, whose term ends in May 2026. Trump recently floated having the Fed's board of governors take full control of the U.S. central bank from Powell, whom he has relentlessly pressured to cut short-term interest rates in ways that raise questions about whether the Fed can remain free from White House politicking. Trump has openly mused about whether to remove Powell before his tenure as chair ends, but he's held off on dismissing the Fed chair after a recent Supreme Court ruling suggested he could only do so for cause rather than out of policy disagreements. The president has put pressure on Powell by claiming he mismanaged the Fed's $2.5 billion renovation project, but he's also said that he's 'highly unlikely' to fire Powell. One of the Fed's governors, Adriana Kugler, made a surprise announcement last Friday that she would be stepping away from her role. That created an opening for Trump, who called her departure 'a pleasant surprise,' to name a new Fed governor. Trump told CNBC it's 'a possibility' that his pick to replace Kugler could also be his choice to replace Powell. Here's what to know about the two known candidates: Kevin Hassett Hassett, director of the White House National Economic Council, has been supportive of the president's agenda — from his advocacy for income tax cuts and tariffs to his support of the recent firing of BLS Commissioner Erika McEntarfer. Hassett served in the first Trump administration as chairman of the Council of Economic Advisers. He has a doctoral degree in economics from the University of Pennsylvania and worked at the right-leaning American Enterprise Institute before joining the Trump White House in 2017. As part of Hassett's farewell announcement in 2019, Trump called him a 'true friend' who did a 'great job.' Hassett became a fellow at the Hoover Institution, which is located at Stanford University. He later returned to the administration to help deal with the pandemic. On CNBC on Monday, Hassett said 'all over the U.S. government, there have been people who have been resisting Trump everywhere they can." Kevin Warsh A former Fed governor who stepped down in 2011, Warsh is currently a fellow at the Hoover Institution. He has been supportive of cutting interest rates, a key goal of Trump's. 'The president's right to be frustrated with Jay Powell and the Federal Reserve,' Warsh said on Fox News' 'Sunday Morning Futures' last month. Warsh has been increasingly critical of Powell's Federal Reserve and in July, on CNBC, called for sweeping changes on how the Fed conducts business as well as a new Treasury-Fed accord 'like we did in 1951, after another period where we built up our nation's debt and we were stuck with a central bank that was working at cross purposes with the Treasury.' He said the Fed's 'hesitancy to cut rates, I think, is actually quite a mark against them.' 'The specter of the miss they made on inflation" after the pandemic, he said, "it has stuck with them. So one of the reasons why the president, I think, is right to be pushing the Fed publicly is we need regime change in the conduct of policy.' 'He's very highly thought of,' Trump said in June when asked directly about Warsh.
