GadgetFreak

I think that 50% in nursing homes is quite high, at least in the NYC area. I think it is closer to 25% to 30%. The current total is about 5800 in care facilities out of 23,195 total as of today which is just about 25%

This is a page, updated frequently, of deaths in care facilities in NYS. It has a breakdown by county and by individual facility.

https://www.health.ny.gov/statistics...g_home_acf.pdf

FlitBen

Efficacy is still to be determined clinically, although HCQ is said to have a decent safety profile in current applications. We have to await the results of well-controlled randomized studies. I would hope that broad-based HCQ use turns out to be helpful in reducing admittances and/or care durations.

Smiley90

As a scientist, I don't blame him for not wanting to be "ahead of the curve" on re-opening, because I don't see many doctors/scientists doing that - it's the economists who are. He likely has bigger concerns than the economy and is just focusing on minimizing the loss of lives.

wco81

Yeah it didn't sound right to me.

But I've seen some criticism that Cuomo made some fateful decision to force patients who tested positive back to nursing homes. Don't know if that's true or not but what's being implied is that he sent those people to certain deaths.

GadgetFreak

As I understand it they were thought to be recovered patients but the thought by some is that they might have still been contagious. At least that’s how I understand it. I could be wrong on that.

rustykettel

I believe the directive was that assisted care facilities couldn't require a negative test prior to accepting (maybe it was reaccepting) a discharged patient. The obvious rationale was in the expectation of overwhelmed hospitals, to make sure that patients went to the appropriate level of care facility rather than warehousing in hospitals.

My suspicion is that most care facility outbreaks were by staff (and lesser extent visitors before those were restricted) bringing it in, especially once community spread was at NY levels. The less than perfect infection control in far too many places allowed it to spread inside once established.

FlyBitcoin

Being ahead of the curve means recognizing that there is co-mingling happening under constraints and rules, and commenting on those rules as they exist going forward and using the indicators to tell us what else we need to do to minimize morbidity and mortality going forward.

Simply ignoring that this is already happening and offering that this co-mingling can happen soon in some areas is being behind the curve.

dergon darkhelm

Moderna Execs Dumped Stock After Hyping Vaccine Results

“Moderna’s stock price skyrocketed as much as 30% on Monday after the biotech company announced promising early results for its coronavirus vaccine. As ordinary investors piled in, two insiders were quietly heading for the exits,” CNN reports.

“Moderna’s chief financial officer and chief medical officer executed options and sold nearly $30 million of shares combined on Monday and Tuesday.”

radonc1

Again.....
When we read the headline, our head's explode thinking that those SOBs just took us to the cleaners and made off like thieves. Here is the headline.

"Moderna unveiled encouraging coronavirus vaccine results. Then top execs dumped nearly $30 million of stock"

But, when you dig down into the story, this is what you find

"Moderna said the sales were executed under 10b5-1 trading plans that were established in advance. "These transactions are executing automatically pursuant to these trading plans," the company said.
Although the fortuitous timing of the transactions may raise eyebrows, Charles Whitehead, professor at Cornell Law School, said the stock sales did not appear to raise any legal red flags.
"On its face, there is nothing wrong with these trades," Whitehead said. "It's what a 10b5-1 plan is intended for, assuming the requirements are met."
These plans regulate when and how many shares company insiders, including directors and executives, are allowed to sell. The transactions are typically executed automatically, without the insiders taking any action. "

[conjecture removed by moderator]

jmastron

Of course, since the execs know when these automatic trades are going to occur (even though they can't change them), there wouldn't be any incentive to time announcements of "breakthroughs" accordingly (which they do have control over), would there? I don't mean to make an accusation there, just something that's hopefully being looked into broadly (not just here). The problem with all of these announcements seems to be that people in the industry know what "promising early results" means (a slightly increased chance that this may be one possible vaccine in a year or so), while others of us want to read it as "it's solved! we can all go get a quick shot tomorrow morning and everything can go back to exaclty the way it was tomorrow afternoon!" It's great to know progress is being made on many fronts though, however agonizingly slow it will be.

nk15

The fact that there was a pre-determined plan to buy and sell stock with some parameters set, it doesn't mean that the system cannot be or is not manipulated. For example, they may have set an automatic trading plan to sell when the shares reach a certain high price, so all they have to do is manipulate/ release the good news to drive the share price up, and the system will do the rest, giving them a cover from the appearance of any impropriety.

GadgetFreak

I think it would be more concerning if the stocks were to be sold at a certain time.

radonc1

Please remember that these are publicly traded companies and therefore are under the scrutiny of the SEC, who can make life miserable for insiders who release information that will influence stock prices for their benefit.

I suspect the whole purpose of a 10b5-1 plan is to make it more difficult for such things to occur, but I am not a stock broker, securities lawyer or a member of the SEC.

However, I am a reader and the headline published in CNN business did not match the information in the body of the text. That is all

chipmaster

I was curious what is your take, from my understanding the stock popped and they decide to go to the markets at record prices. Nothing illegal, you claim with best "intent" you have a possible treatments and then want to raise cash, lots of suckers, not your problem, LOL

radonc1

So I went and looked at what 10b5-1 plans are all about. You can find all the information here but I will use a small part of the FAQs answer to address your questions above.

"What are the benefits of a Rule 10b5‐1 plan? Rule 10b5‐1 plans provide the following benefits:  An affirmative defense to insider trading allegations for persons trading pursuant to the plan;  Greater certainty to insiders in planning securities transactions;  Potentially more opportunities for insiders to sell their shares, especially if the issuer’s trading policy permits trading under a plan during a trading or earnings blackout period;  Potentially less negative publicity associated with insider sales;....."

I will leave it to you to peruse the entire document but I suspect that this ground and the questions you raise have been plowed numerous times by those who make their living out of this. I don't so i will call it a day, and say that, as the CNN article said.........
"Although the fortuitous timing of the transactions may raise eyebrows, Charles Whitehead, professor at Cornell Law School, said the stock sales did not appear to raise any legal red flags."