ALT +16.5% on FDA Breakthrough Therapy Designation

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Altimmune (ALT) jumped 16.5% after the FDA granted Breakthrough Therapy Designation to pemvidutide for the treatment of MASH (metabolic dysfunction–associated steatohepatitis). The designation followed strong clinical data and signals the FDA’s view that pemvidutide may offer meaningful improvement over existing treatment options. With MASH representing a large, underserved market and heightened regulatory momentum around obesity-linked liver disease, the announcement materially improved visibility into pemvidutide’s development and commercial potential.

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Trump Floats 10% Credit Card Rate Cap

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President Trump called for a one-year cap on credit card interest rates at 10%, saying Americans have been “ripped off” by high borrowing costs. The outline lacks implementation details and would require Congress to act, leaving its practical path and timing uncertain.
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Who this impacts:
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• Large U.S. banks / credit card issuers — Higher-rate lending contributes materially to net interest income:
  • JPMorgan Chase (JPM)
  • Bank of America (BAC)
  • Capital One Financial (COF)
  • American Express (AXP)
  • Citigroup (C)
    Capping interest income on credit cards could compress revenues and margins if adopted in law.
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• Regional banks / community lenders — Often have a higher share of unsecured lending and could see funding and credit-risk dynamics shift.
• Non-bank lenders & alternative financing — A strict cap could push risk and demand toward unregulated or lightly regulated lenders (e.g., payday lenders, “buy-now-pay-later” firms), which do not fall under traditional rate caps.

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Market signal vs. mechanics

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The proposal has political traction because lawmakers from both parties have expressed concern over rising consumer borrowing costs. Banking advocacy groups warn a hard cap could reduce credit availability and push borrowers into higher-cost channels.