Categories
Health

Ambient scientific documentation steals the present

Attendees at HIMSS in Orlando, Florida 2024.

Courtesy of HIMSS

The hottest new technology for doctors promises to bring back an age-old health-care practice: face-to-face conversations with patients.

As more than 30,000 health and tech professionals gathered among the palm trees at the HIMSS conference in Orlando, Florida, this week, ambient clinical documentation was the talk of the exhibition floor. 

This technology allows doctors to consensually record their visits with patients. The conversations are automatically transformed into clinical notes and summaries using artificial intelligence. Companies like Microsoft’s Nuance Communications, Abridge and Suki have developed solutions with these capabilities, which they argue will help reduce doctors’ administrative workloads and prioritize meaningful connections with patients. 

“After I see a patient, I have to write notes, I have to place orders, I have to think about the patient summary,” Dr. Shiv Rao, founder and CEO of Abridge, told CNBC at HIMSS. “So what our technology does is it allows me to focus on the person in front of me — the most important person, the patient — because when I hit start, have a conversation, then hit stop, I can swivel my chair and within seconds, the note’s there.” 

Administrative workloads are a major problem for clinicians across the U.S. health-care system. A survey published by Athenahealth in February found that more than 90% of physicians report feeling burned out on a “regular basis,” largely because of the paperwork they are expected to complete. 

More than 60% of doctors said they feel overwhelmed by clerical requirements and work an average of 15 hours per week outside their normal hours to keep up, the survey said. Many in the industry call this at-home work “pajama time.” 

Since administrative work is mostly bureaucratic and doesn’t directly influence doctors’ decisions around diagnoses or patient care, it has served as one of the first areas where health systems have seriously begun to explore applications of generative AI. As a result, ambient clinical documentation solutions are having a real moment in the sun. 

“There isn’t a better place to be,” Kenneth Harper, general manager of DAX Copilot at Microsoft, told CNBC in an interview. 

Microsoft’s Nuance announced its ambient clinical documentation tool Dragon Ambient eXperience (DAX) Express in a preview capacity last March. By September, the solution, now called DAX Copilot, was generally available. Harper said there are now more than 200 organizations using the technology. 

Microsoft acquired Nuance for around $16 billion in 2021. The company had a two-story exhibition booth in the exhibit hall that was often packed with attendees

Harper said the technology saves doctors several minutes per encounter, though the exact numbers vary depending on the specialty. He said his team gets feedback about the service almost daily from doctors who claim it has helped them take better care of themselves — and even saved their marriages.

Harper recounted a conversation with one physician who was considering retirement after practicing for more than three decades. He said the doctor was feeling worn out from years of stress, but he was inspired to keep working after he was introduced to DAX Copilot. 

“He said, ‘I literally think I’m going to practice for another 10 years because I actually enjoy what I do,'” Harper said. “That’s just a personal anecdote of the type of impact this is having on our care teams.” 

At HIMSS, Stanford Health Care announced it is deploying DAX Copilot across its entire enterprise. 

Gary Fritz, chief of applications at Stanford Health Care, said the organization had initially started by testing the tool within its exam rooms. He said Stanford recently surveyed physicians about their use of DAX Copilot and 96% found it easy to use. 

“I don’t know that I’ve ever seen that big a number,” Fritz told CNBC in an interview. “It is a big deal.”

Dr. Christopher Sharp, chief medical information officer at Stanford Health Care and one of the physicians who tested DAX Copilot, said it is “remarkably seamless” to use. He said the tool’s immediacy and reliability are accurate and strong but could improve at capturing a patient’s tone. 

Sharp said he thinks the tool saves him documentation time and has changed how he spends that time. He said he is often reading and editing notes instead of composing them, for instance, so it is not as though the work has disappeared entirely.

In the near term, Sharp said he’d like to see more capabilities for personalization within DAX Copilot, both at an individual and specialty level. Even so, he said it was easy to see the value of it from the start.

“The moment that that first document returns to you, and you see your own words and the patient’s own words being reflected directly back to you in a usable fashion, I would say that from that moment, you’re hooked,” Sharp told CNBC in an interview.

Fritz said it is still early in the product life cycle, and Stanford Health Care is still working out exactly what deployment will look like. He said DAX Copilot will likely roll out in specialty-specific tranches. 

Attendees at HIMSS in Orlando, Florida 2024.

Courtesy of HIMSS

In January, Nuance announced the general availability of DAX Copilot within Epic Systems’ electronic health record (EHR). Most doctors create and manage patient medical records using EHRs, and Epic is the largest vendor by hospital market share in the U.S., according to a May report from KLAS Research. 

Integrating a tool like DAX Copilot directly into doctors’ EHR workflow means they won’t need to switch apps to access it, which helps save time and reduce their clerical burden even further, Harper said. 

Seth Hain, senior vice president of R&D at Epic, told CNBC that more than 150,000 notes have been drafted into the company’s software by ambient technologies since the HIMSS conference last year. And the technology is scaling fast. Hain said more notes have already been drafted in 2024 than in 2023.

“You’re seeing health systems who have worked through an intentional process of acclimating their end users to this type of technology, now beginning to rapidly roll that out,” he said. 

A company named Abridge also integrates its ambient clinical documentation technology directly within Epic. Abridge declined to share the exact number of health organizations using its technology. It announced at HIMSS that California-based UCI Health is rolling out the company’s solution system-wide. 

Rao, the CEO of Abridge, said the rate at which the health-care industry has adopted ambient clinical documentation feels “historic.” 

Abridge announced a $30 million Series B funding round in October, led by Spark Capital, and four months later, the company closed a $150 million Series C round, according to a February release. Rao said tail winds like physician burnout have turned into a “tornado” for Abridge, and it will use these funds to continue to invest in the science behind the technology and explore where it can go next. 

The company is saving some doctors as much as three hours a day, Rao said, and is automating more than 92% of the clerical work it focuses on. Abridge’s technology is live across 55 specialties and 14 languages, he added. 

Abridge has a Slack channel called “love stories,” which was viewed by CNBC, where the team will share the positive feedback they get about their technology. One message from this week was from a doctor who said Abridge helped them take their least favorite part of their job away and saves them around an hour and a half each day.

“That’s the type of feedback that absolutely inspires everybody in the company,” Rao said.

Suki CEO Punit Soni said the ambient clinical documentation market is “sizzling.” He expects rapid growth to continue through the next couple of years, though, like all hype cycles, he said he thinks the dust will settle.

Soni founded Suki more than six years ago after hypothesizing that there would be a need for a digital assistant to help doctors manage clinical documentation. Soni said Suki is now used by more than 30 specialties in around 250 health organizations nationwide. Six “large health systems” have gone live with Suki in the past two weeks, he added. 

“For four to five years I’ve sat around, basically with the shop open, hoping somebody will show up. Now the entire mall is here, and there’s a line outside the door of people wanting to deploy, ” Soni told CNBC at HIMSS. “It’s very, very exciting to be here.”

Suki’s website says its technology can reduce the time a physician spends on documentation by an average of 72%. The company raised a $55 million funding round in 2021 led by March Capital. It will likely raise another round in the latter half of the year, Soni said.

Soni said Suki is focused on deploying its technology at scale and exploring additional applications, like how ambient documentation could be used to assist nurses. He said the Spanish language is coming to Suki soon, and customers should expect most major languages to follow. 

“There is so much that has to happen,” he said. “In the next decade, all of health-care tech is going to look completely different.”

Categories
Entertainment

Kim Kardashian Seems to Joke About Discovering Kate Middleton

The photo debacle and Kate’s absence from public duties—which, as her rep reiterated Feb. 29, is not expected to end until after the March 31 Easter holiday—have also been the topic of late night talk show discussions and jokes.

Stephen Colbert noted on The Late Show March 12 how “the kingdom has been all a flutter by the seeming disappearance of Kate Middleton.” Also that day, John Oliver shared his thoughts about the matter on Watch What Happens Live With Andy Cohen.

“I was out. I thought ‘Let’s all just ignore this, we’ve moved on,’ until the Photoshop thing,” the British-born Last Week Tonight host said. “Feels like you’re almost handling it badly in an impressive way at this point.”

John also joked, “There is a non-zero chance she died 18 months ago. They might be Weekend at Bernie’s-ing this situation,” adding, “I’m not saying it happened! I’m saying it’s non-zero. Until proved otherwise. Until you see her with a copy of the day’s newspaper.”

Kate is not the only royal to stir online discussion in recent months. Look back at more royal news from this year below:

Categories
Science

Offshore Wind Bribe Falls Brief – Watts Up With That?

From MasterResource

By Robert Bradley Jr.

“Respectfully, the future of the Town of Ocean City cannot be bought [by offshore wind interests] and we intend to continue to do what is necessary to protect the interests of our residents, property owners and future generations.” – Mayor Rick Meehan, Ocean City, Maryland

The $2 million bribe was turned down–flatly, by the Mayor of Ocean City, Rick Meeham. This “opportunity” spread out over 20 years came with this request from US Wind: “local government officials… [refraining] from making any negative comments or objections.”

Here is the story reported in UtilityDive:

“In December 2023, I received an email from Jeff Grybowski, Chief Executive Officer for US Wind, offering Ocean City the same opportunity that has been extended to the Delaware Beach Towns,” [Ocean City Mayor] Meehan said. “My response was, ‘Respectfully the future of the Town of Ocean City cannot be bought and we intend to continue to do what is necessary to protect the interests of our residents, property owners and future generations.’” …

The story continued:

Meehan said he found the idea “unconscionable.” ….

That leaves US Wind as the only company currently developing a wind project offshore near Ocean City, and the town’s only opponent in its “battle of the proposed construction of wind turbines off our coast,” according to Ocean City’s official website. “As of January 2024, The Town of Ocean City does not support any turbines built off our coast,” a release from the town said. “As of January 2024, US Wind is the only company with proposed plans to build turbines off the coast of Ocean City.”

Ever the crony, US Wind tried to paint a happy face on the situation.

Nancy Sopko, US Wind’s senior director of external affairs, said in an email that while Ocean City chose not to discuss a community benefit agreement, the company wants to continue to work with the city as “good neighbors.” … “As a member of this community, we believe it’s important to do what we can to help it thrive,” Sopko said. However, she added, “Ocean City’s position on community benefits has no impact on our project plans.”

Final Comment

Nancy Sopko is quoted at the end of the story: “We’re very confident that we will build Maryland’s first offshore wind farm and deliver clean energy to the people of Delmarva for years to come.”

Nope. Real environmentalists are standing up, knowing also that the electricity rate increases from offshore wind will be substantial, even after U.S. taxpayers get soaked via the U.S. Department of Energy grants and the Production Tax Credit.

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Categories
Technology

Riddled with debt, Sweden’s Embracer sells Star Wars sport maker for $500M

Swedish gaming company Embracer Group has sold a big chunk of one of its biggest subsidiaries, US-headquartered Saber Interactive, in a deal totalling $500mn. 

The buyer is Beacon Interactive, a holding company recently formed by none other than Saber’s own co-founder Matthew Karch. In a letter shared with Bloomberg, Karch said he was buying back the rights to his company and many of its studios because “they represent the best of what Saber is and can be.” 

Saber Interactive is currently overseeing the development of 38 games, including Warhammer 40,000: Space Marine 2, John Carpenter’s Toxic Commando, and Jurassic Park: Survival. It is also working on a remake of the classic sci-fi game Star Wars: Knights of the Old Republic.

In 2020, Embracer purchased Saber Interactive for $525mn, as part of a spending spree that saw it acquire a number of major gaming studios — and a whole lot of debt.

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Forced into some major restructuring, by November last year Embracer had laid off 904 employees, roughly 5% of its workforce, and canceled at least fifteen projects. As such, the company cut its debt from $2bn to $1.5bn. Selling Saber will no doubt push Embracer closer to the green, but it is also losing some major titles in the process. 

Along with the games it is currently working on, Beacon is taking 3000 workers from Saber while Embracer is retaining 800 (it has 14,140 workers overall). Beacon will also take some proprietary engine technology and game tools along with it.

This may be the beginning of a widespread exodus at Embracer, which has also reportedly received interest for another one of its subsidiaries Gearbox, best known for the Borderlands game. The studio could be worth $1.3bn. 

For many gamers, the quicker their favourite titles leave Embracer the better. “Great news,” wrote one Reddit user upon the news that 4A, the maker of the Metro first-person shooter franchise, was jumping ship. “It would be a dark day in gaming if they were closed down because of the shit show Embracer has become.”

“Hopefully the remaining titles get out of that [Embracer] clusterfuck soon,” said another.

Lars Wingefors, co-founder and CEO of Embracer, is just happy to get some cash on the account. “Cash flow is immediately improved, and we remain committed to reducing net debt,” he said, adding that the transaction puts “both companies in a stronger position to thrive going forward.

Under the deal, Embracer will also discontinue all operations in Russia, due to the fact that it now longer owns the studios that have offices there.

Categories
Sport

NBA’s wild West play-in race: Who will not make the playoffs?

Mar 15, 2024, 08:20 AM ET

The race for the NBA’s Western Conference play-in tournament — and to avoid it all together — is heating up with just under a month remaining in the regular season. And there are some star-studded races to watch down the stretch.

Let’s start toward the bottom, where the Los Angeles Lakers and Golden State Warriors are on a collision course for the 9-10 game. LeBron James and Stephen Curry, each with four NBA titles, will likely have to win twice in the tournament to just reach the playoffs and have a chance at a fifth ring.

Above L.A. and Golden State sit three teams battling for the coveted 6-seed: the Sacramento Kings, Phoenix Suns and Dallas Mavericks. The Kings currently have the inside track, thanks to a double-digit win over the Lakers on Wednesday.

How will the standings shake out? Which teams have the toughest schedules remaining? What matchups and stats will matter most? Our NBA Insiders are breaking down what lies ahead for each contender and what they need to do for a playoff berth.

Note: Remaining strength of schedule and seeding odds courtesy of ESPN Basketball Power Index (BPI).

6. Sacramento Kings

2023-24 record: 38-27
Remaining SOS: No. 19
BPI odds at No. 6 seed: 46.8%

Nothing about this team is a given, apart from Domantas Sabonis’ nightly double-double performances (48 straight games, the third-longest in-season streak since the 1976-77 NBA-ABA merger). But since suffering a deflating home defeat to the Chicago Bulls in which they blew a 22-point lead, the Kings have won four their past five games and are a season-best 11 games over .500. And since the All-Star break, Sacramento has earned victories over the first-place Denver Nuggets (twice), third-place Minnesota Timberwolves and the fourth-place LA Clippers within the last month and change.

In March, the club owns a top-five offense and top-five net rating. There has been one bright spot lately on defense among this porous group: Second-year guard Keon Ellis limited Damian Lillard and D’Angelo Russell to 10 points or fewer in back-to-back games this week.

Still, De’Aaron Fox, Sabonis and the Kings have their work cut out for them schedule-wise. Among the teams that are fighting to avoid the play-in round, only the No. 7 Suns have a tougher remaining schedule. Sacramento’s upcoming 10-game slate from March 26 to April 12 includes a pair of games against All-NBA floor general Luka Doncic and the Mavs, the Clippers, the New York Knicks, the Boston Celtics, the Oklahoma City Thunder, New Orleans Pelicans and the Suns. – Chris Herring

Number to watch down the stretch: 22-20 vs. teams with winning records

The Lakers aren’t the only team that might not want to see the Kings in the play-in. Sacramento trails the season series against just two West postseason teams: the Clippers (1-2) and the Pelicans (0-4).

The Kings are one of eight teams with a winning record against teams .500 or better, a feat the Suns, Mavs, Lakers and Warriors can’t boast. By contrast, Sacramento has gone 16-7 (.696) against the league’s below-.500 drags, far worse than Dallas (21-5, .808) and Golden State (20-5, .800). – Kevin Pelton

7. Phoenix Suns

2023-24 record: 38-28
Remaining SOS: No. 2
BPI odds at No. 6 seed: 27.7%

When Phoenix dropped to 14-15 after losing on Christmas Day to the Mavericks, it seemed the team’s big three of Devin Booker, Kevin Durant and Bradley Beal wasn’t going to pay off. At that point injuries had zapped the team, with Beal and Jusuf Nurkic both out.

Since then, Phoenix has gone 24-12 to turn around their season. Beal played in just six games prior to Christmas but has been mostly healthy since. With Durant and Booker playing at an All-NBA level, Phoenix hopes it’ll have enough to get out of the play-in tournament and get a much-needed five or six days off before the first round starts.

Unfortunately for Phoenix, the Suns have the toughest remaining schedule in the West, with 11 of their 17 remaining games on the road. Their final six regular-season games could decide their postseason fate, with the Suns set to face contenders in the Timberwolves, Pelicans, Clippers and Kings. – Andrew Lopez

Number to watch down the stretch: 45% 3-point shooting from starting five

If the Suns are going to avoid the play-in and make a deep playoff run, they’ll do it on the strength of their shooting. Phoenix’s overall 38% 3-point shooting, good for seventh in the league, understates the danger presented by the Suns’ starters.

Among the three lineups this season that have shot at least 44% on at least 100 3-point attempts, per NBA Advanced Stats, two are from Phoenix: 45% with the starters (best of any lineup that’s shot at least 150 3s) and 44.5% with Eric Gordon in place of Beal. – Pelton

8. Dallas Mavericks

2023-24 record: 38-29
Remaining SOS: No. 17
BPI odds at No. 6 seed: 40.5%

Dallas has dealt with injuries and inconsistency while searching for the best fits to complement their co-superstars Luka Doncic and Kyrie Irving, employing 33 different starting lineups so far this season.

The Mavs have aggressively attempted to upgrade Doncic’s supporting cast over the last few transaction cycles, starting with the Irving trade, giving up 2027 and 2029 first-round picks and 2028 and 2030 swap rights.

Dallas is 5-0 when this season’s deadline additions Daniel Gafford and P.J. Washington start alongside Doncic and Irving. Dallas is 24-15 when Doncic and Irving both play, a drastic upgrade from the duo’s 5-11 record en route to the lottery last season, but now Doncic is dealing with left hamstring soreness that sidelined him Thursday night in Oklahoma City.

The Mavericks’ two clashes with the Kings on March 26 and 29 could determine whether Dallas has realistic hopes of climbing out of the play-in picture. Sacramento won the previous two meetings between the teams, so Dallas would have to sweep the set for a chance at a tiebreaker (conference record).

The good news? The Mavs have earned the tiebreaker over the Suns, the other team in the tightly bunched group between sixth and eighth in the standings. – Tim MacMahon

Number to watch down the stretch: 28th in defense since All-Star break

The Mavericks’ offense has been surging. Only the Celtics and Nuggets — the two title favorites — have better offensive ratings in the past month. Yet Dallas has gone just 6-5 because of a bottom-three defense in that span. The Mavericks have been hit by opponent’s 3-point shooting variance, with the 39% they’re shooting ranks 29th in the league.

However, the newly acquired Washington has been miscast in the role of wing stopper, understandably struggling to contain the league’s best scorers. If Dallas is going to make a playoff run, the defense must tighten up. – Pelton

9. Los Angeles Lakers

2023-24 record: 36-31
Remaining SOS: No. 21
BPI odds at No. 6 seed: 4.3%

Are the Lakers the same team that made the conference finals last spring and won the inaugural in-season tournament in December? Are they a title-caliber team just barraged by injuries? Or are they simply not good enough to be considered a true contender?

While they might be trending upward — 12-6 since Feb. 1 — the Lakers’ overall performance has been middle of the pack: 17th in offensive efficiency and 18th in defensive efficiency. Given last season’s playoff run as the No. 7 seed and the possible returns of key contributors Jarred Vanderbilt, Gabe Vincent and Christian Wood means L.A. can’t be counted out

But James has likened this season’s Lakers to Dr. Jekyll and Mr. Hyde for a reason.

The No. 9 Lakers have a one-game lead over the Warriors and play them two more times in the final month of the regular season, after the teams split their first two meetings. L.A. still has aspirations of winning enough down the stretch to avoid the play-in tournament completely, but if that surge doesn’t happen, those games against Golden State — Saturday and April 9 in L.A. — could very well decide who hosts a single-elimination No. 9 vs. No. 10 play-in game. – Dave McMenamin

Number to watch down the stretch: Anthony Davis’ 0-10 career record vs. Sabonis

The Lakers don’t want a play-in matchup with the Kings, who swept the regular-season series 4-0, keeping Davis winless in his career head-to-head with Sabonis. The mark is inflated by four wins in Sabonis’ 2016-17 rookie season in Oklahoma City, during which Davis (then with the Pelicans) outscored Sabonis 117-20.

The two players somehow never matched up in the time between when Davis joined the Lakers and Sabonis was traded to Sacramento. Since then, Davis has struggled in head-to-head meetings (shooting 44%) more than Sabonis has necessarily overperformed. Eventually, Davis will best Sabonis, but the Lakers would rather not take that chance now. – Pelton

10. Golden State Warriors

2023-24 record: 34-31
Remaining SOS: No. 14
BPI odds at No. 6 seed: 0.9%

Coming out of the All-Star break, the 10th-place Warriors still had their sights on securing a top-six seed in the Western Conference.

“We’re not really focused on 7 [seed], 8, 9, 10. We’re looking at No. 6 and No. 5,” Warriors guard Brandin Podziemski said.

Stephen Curry agreed: “It’s a lofty goal, but we can get there.”

Now, with less than a month left in the regular season and still in 10th place — one game behind the Lakers for ninth and four games behind Sacramento for sixth — the Warriors are near locks for the play-in tournament.

They should focus on climbing into the seventh or eighth seed. When healthy, the Warriors have proven they can put up a fight against a title contender. Klay Thompson and Chris Paul have steadied the second unit, while the emergence of young players such as Podziemski and Trayce Jackson-Davis have given them some depth. Jonathan Kuminga has had a breakout season with a career high 16.1 points per game — and the team is 15-8 since he became a starter in December.

They still have massive lapses, failing to finish games — they are 18-20 in 38 clutch games, tied for second-most in the league — and struggling to compete with the top teams, most recently being blown out by 52 points against the Celtics.

Golden State plays 10 of their final 17 games on the road, which might be a blessing in disguise. The Warriors are 17-13 away from Chase Center — a massive improvement over their 11-30 road record last season, fourth-worst in the NBA. Helping the Warriors is the 10th easiest remaining schedule in the league — and second-easiest among West contenders currently in the play-in race. – Kendra Andrews

Number to watch down the stretch: Thompson averaging 19.7 points per game as a reserve

The ankle sprain that sidelined Curry the past three games — two losses during that span — temporarily moved Thompson back into the starting five. But before that, bringing the future Hall of Famer off the bench was working for the Warriors. Thompson averaged more points in 26.3 minutes per game as a reserve than he did in 30.2 MPG as a starter (16.6 PPG).

Thompson hit 44% of his 3s as a reserve, up from 37% as a starter. And playing Thompson with the reserves allowed Golden State to feature him with a higher usage rate (27%, up from 23% as a starter). – Pelton

Categories
Health

WeightWatchers CEO simply despatched a memo to workers as inventory crashes

Sima Sistani, CEO, WW International, August 16, 2023.

Scott Mlyn | CNBC

WeightWatchers CEO Sima Sistani has sent an internal memo to employees attempting to reassure them that the financial position of the company is solid and its new clinical business related to the threat of GLP-1 weight loss drugs is growing faster than expected.

The memo, shared with CNBC, comes after heavy selling in WW shares that has seen the stock market value of the iconic weight loss company fall to under $150 million amid concerns about the company’s debt load and its core weight loss business growth prospects at a time of new blockbuster drugs like Novo Nordisk‘s Ozempic and Wegovy, and Eli Lilly‘s Zepbound.

In the memo, Sistani told employees she wanted “to take a moment to address some of the breathless media coverage.”

While the news on Feb. 28, concurrent with its earnings, that Oprah Winfrey was planning to leave the company’s board and donate all of her shares in the company to a museum’s endowment had led to a 20%-plus drop on earnings day, shares stabilized later that week. But since then WW shares have suffered heavy selling, dropping to a new 52-week low on Thursday. Over the past one-month period, shares are down 58 percent. The stock, due to its debt load and short interest, as well as the general anxiety about the impact of the new weight loss drugs, is subject to heightened volatility.

Concerns about the company’s significant debt load have made new headlines in recent weeks, however, the issue is not a new one and much of the debt is not due for years.

“These headlines are often just speculation,” Sistani wrote to employees. “We have strong liquidity and are not in a cash crunch. We have very attractive, long-term debt agreements, with no maturities due until 2028 and 2029.”

Guggenheim Partners analysts wrote in a note on Thursday that they are “unconcerned” about WW’s ability to service its debt, which includes roughly $945 million outstanding on a non-amortizing term loan that matures in April of 2028, and $500 million of notes due in April of 2029.

The company ended 2023 with approximately $109 million in cash, according to Guggenheim.

At its current market cap, the near $1.5 billion in debt is roughly 10 times the publicly traded value of the company’s equity.

There was some confusion in the market over the financial issues and risk of bankruptcy which contributed to pressure on the stock, with at least one Wall Street research report this week indicating that WeightWatchers had hired lawyers. But CNBC was able to confirm on Thursday that it was the company’s lenders, not WW, that had hired a law firm in preparation for conversations about the debt load.

“Despite the high leverage, we believe WW will have no problem covering interest payments on the debt, and will ultimately be in a much better position to recapitalize the company in 2-3 years after the Clinical business scales. Moreover, we think any worries about a recapitalization or default this year are overblown,” the Guggenheim analysts wrote.

Guggenheim maintains a buy rating on the shares and $12 price target. On Friday, the volatile shares closed 20% higher, at $2.26.

Last year, WW acquired Sequence, since rebranded as WeightWatchers Clinic, as a way to confront the threat of the GLP-1 drugs to its legacy business by having the ability to connect patients with clinicians who can prescribe the drugs and combine the drugs with a broader weight-loss program. The FDA mandates the drugs be used in conjunction with broader weight-loss diet and exercise methods.

Sistani said in the note to employees that since it reported on Feb. 28 and provided guidance for the year, its GLP-1 related clinicals business has grown quickly. “In fact, we are on track to beat our Q1 guidance for Clinic subscribers,” she wrote.

While any faster growth for the clinicals business is a plus, several analysts who cover the stock have told CNBC that the core weight-loss management business has to grow for investors to turn bullish on the stock, given the size of the legacy business relative to the new clinicals effort.

“WW is in a tough spot,” said one analyst consulted after the internal memo was shared, but who could not comment for attribution due to concerns about fair disclosure of the material information. “Sequence [the clinicals business now named WeightWatchers Clinic] should be the future. That’s the GLP-1 playbook, but at this point it’s still very small. If they are talking about upside to that small business in and of itself, it’s not meaningful. The bigger issue is the legacy business continues to suffer and the company is overly levered.”

When WW reported results on Feb. 28, the company said it had ended Q4 with 3.8 million subscribers, including 67,000 for clinical subscriptions, but its guidance for the full year 2024 was total subscriber growth in the range of 3.8 million to 4.0 million, including between 140,000 and 160,000 subscribers to WeightWatchers Clinic.

Turning around and totally transforming a business is not for the faint of heart!” Sistani wrote to employees. “As we stay focused on delivering for our members, the stock price will take care of itself,” she stated. “I know clickbait stories and their predictable, albeit temporary, market impact don’t feel great. But take pride, because we will prove the naysayers wrong.”

Oprah Winfrey said in her statement announcing her intentions to leave the WW board this upcoming May and donate all of her shares to the National Museum of African American History and Culture that she would continue to work with the company to de-stigmatize obesity and focus on weight loss as management of a chronic condition (Oprah told People she started using weight loss drugs in December). Next Monday, Winfrey is scheduled to appear in a national primetime weight-loss special on ABC.

Guggenheim said in its note on Thursday “we would not be surprised if the special contains positive commentary about pairing GLP-1 drug therapies along with a clinically-guided behavior modification program.” It noted that WW was among companies from the weight loss industry involved in the TV event.

Sistani was named to the inaugural CNBC Changemakers list, revealed in February.

—CNBC’s Brandon Gomez contributed reporting.

Categories
Science

Might Earth Life Survive on a Pink Dwarf Planet?

Even though exoplanet science has advanced significantly in the last decade or two, we’re still in an unfortunate situation. Scientists can only make educated guesses about which exoplanets may be habitable. Even the closest exoplanet is four light-years away, and though four is a small integer, the distance is enormous.

That doesn’t stop scientists from trying to piece things together, though.

One of the most consequential questions in exoplanet science and habitability concerns red dwarfs. Red dwarfs are plentiful, and research shows that they host multitudes of planets. While gas giants like Jupiter are comparatively rare around red dwarfs, other planets are not. Observational data shows that about 40% of red dwarfs host super-Earth planets in their habitable zones.

Red dwarfs have a few things going for them when it comes to exoplanet habitability. These low-mass stars have extremely long lifespans, meaning the energy output is stable for long periods of time. As far as we can tell, that’s a benefit for potential habitability and the evolution of complex life. Stability gives life a chance to respond to changes and persist in their niches.

But red dwarfs have a dark side, too: flaring. All stars flare to some degree, even our Sun. But the Sun’s flaring is not even in the same league as red dwarf flaring. Red dwarfs can flare so powerfully that they can double their brightness in a very short period of time. Is there any way life could survive on red dwarf planets?

This is an artist’s concept of a red dwarf star undergoing a powerful eruption called a stellar flare. A hypothetical planet is in the foreground. Credit: NASA/ESA/G. Bacon (STScI)

New research from scientists in Portugal and Germany examines that question. To test the idea of red dwarf exoplanet habitability, the researchers used a common type of mould and subjected it to simulated red dwarf radiation, protected only by a simulated Martian atmosphere.

The research is “How habitable are M-dwarf Exoplanets? Modelling surface conditions and exploring the role of melanins in the survival of Aspergillus niger spores under exoplanet-like radiation.” The lead author is Afonso Mota, an astrobiologist at the Aerospace Microbiology Research Group in the Institute of Aerospace Medicine at the German Aerospace Center (DLR.) The paper has been submitted to the journal Astrobiology and is currently in pre-print.

Aspergillus niger is ubiquitous in soil and is commonly known for the black mould it can cause on some fruits and vegetables. It’s also a prolific producer of melanin. Melanin absorbs light very efficiently, and in humans, melanin is produced by exposure to UV radiation and darkens the skin. Melanins are widespread in nature, and extremophiles use them to protect themselves. Melanin can dissipate up to 99.9% of absorbed UV. Scientists think that the appearance of melanins may have played a critical role in the development of life on Earth by protecting organisms from the Sun’s harmful radiation.

A scanning electron microscope of freeze-dried Aspergillus niger. Image Credit: By Mogana Das Murtey and Patchamuthu Ramasamy – [1], CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=52254793

In essence, this research asks a pretty simple question. Can Aspergillus niger’s melanin help it survive red dwarf flaring when protected by a thin atmosphere like Mars’?

Proxima Centauri and TRAPPIST-1 are both well-known red dwarfs in exoplanet science because they host rocky exoplanets in their habitable zones. This study zeroes in on Proxima Centauri b (PCb hereafter) and TRAPPIST-1 e (T1e hereafter.) They’re both likely to have temperatures that allow liquid water to exist on their surfaces, given the right atmospheric properties. Both PCb and T1e likely have tolerable radiation environments, as well.

This figure from the research shows the Top of Atmosphere UV and X-ray radiation on Proxima Centauri and TRAPPIST-1 exoplanets. Image Credit: Mota et al. 2024.

It’s impossible to model the surface conditions of these planets perfectly, but researchers can get close by using what’s called the equilibrium temperature. Measuring stellar flaring is easier because it can be observed accurately from great distances. Melanin production in A. niger is likewise well understood. By working with all three factors, the researchers were able to model how the mould would fare on the surface of a habitable zone planet around a red dwarf.

“In the context of astrobiology, and particularly astromycology, the study of extremotolerant fungi has proven critical to better understanding the limits of life and habitability,” the authors write. “Aspergillus niger, an extremotolerant filamentous fungus, has been frequently used as a model organism for studying fungal survival in extreme environments, growing in a wide range of conditions.”

A. niger’s spores have a complex and dense coating of melanin that protects them from UV and X-ray radiation. They’ve been found in the International Space Station, a testament to their ability to withstand some of the hazards in space. Though they’re terrestrial, scientists can use them to study the potential habitability of exoplanets.

In this work, the researchers tested the survivability of A. niger spores in simulated surface conditions of PCb and T1c, where the red dwarf stars bathe the planetary surfaces in powerful UV and X-ray radiation.

The researchers tested different types of A. niger spores in different solutions. One was a wild strain, one was a mutant strain modified to produce and excrete pyomelanin, one of the melanins of particular interest to scientists, and the third was a melanin-deficient strain. The spores were suspended in either saline solutions, melanin-rich solutions, or a control solution for a period of time while being exposed to different amounts of both X-ray and UV radiation.

After exposure, the three types of A. niger spores were tested for their survivability and viability.

The results show that A. niger would be able to survive the intense radiation environments that can sterilize the surfaces of red dwarf exoplanets. Not if directly exposed, but if under only a few millimetres of soil or water. “If unattenuated, X-rays from flares would most likely sterilize the surface of all studied exoplanets. However, microorganisms suited to survive under the surface would be unaffected by most exogenous radiation sources under a few millimetres of soil or water,” the researchers explain.

This figure from the research shows the estimated subsurface X-ray absorbed dose throughout a thin layer of soil (orange) or water (blue). Water has a lower capacity for attenuating these high-energy photons, so a thicker water layer is needed to reduce the same dose compared to soil. The three dashed lines represent the LD90 (Lethal dose for 90% of a population) values for E. coli, A. niger, and D. radiodurans. E. coli is a common bacterium, and D. radiodurans is a radiation-resistant extremophile. Image Credit: Mota et al. 2024.

What the study comes down to is melanin. The more melanin there is, the higher the survival rate for A. niger.

“The experiments performed in this study corroborate the multifunctional purpose of melanin since A. niger MA93.1 spores germinated faster and more efficiently in a melanin-rich extract when compared to the two control solutions,” the authors write. A. niger MA93.1 is the mutant strain modified to produce and excrete melanin.

These figures from the research show the protective power of melanin when A. niger is exposed to UV-C radiation (left) and X-ray radiation (right.) A. niger in melanin solution showed better outgrowth after radiation exposure than either the saline solution or the control solution. The solid lines represent non-irradiated A. niger, and the dashed lines represented non-irradiated A. niger control samples. Image Credit: Mota et al. 2024.

For the exoplanets T1e and PCb, the research is promising for those of us hoping for habitability on other planets. When it comes to UV-C radiation, a significant fraction of spores from samples containing melanin could survive the superflares striking PCb and T1e, even with very little atmospheric shielding. Exposure to X-rays was similar.

While we all like to imagine complex life elsewhere in the Universe, we’re more likely to stumble on worlds nothing like Earth. If we find life, it’ll probably be simple organisms that are finding a way to survive in what we would consider marginal or extreme environments. Since red dwarfs are so common, that’s likely where we’ll find this life.

This study bolsters that idea.

“Furthermore,” the authors write in their conclusion, “results from this work showed how A. niger, like other extremotolerant and extremophilic organisms, would be able to survive harsh radiation conditions on the surface of some M-dwarf exoplanets.”

The melanin plays a critical role in their potential survival, the authors conclude. “Additionally, melanin-rich solutions were shown to be highly beneficial to the survival and germination of A. niger spores, particularly when treated with high doses of UV and X-ray radiation.”

There’s an ongoing scientific discussion around red dwarf exoplanet habitability, with flaring playing a prominent role. But this research shows maybe it’s too soon to write red dwarfs off while also shedding light on how life on Earth may have got going.

“These results offer an insight into how lifeforms may endure harmful events and conditions prevalent on exoplanets and how melanin may have had a role in the origin and evolution of life on Earth and perhaps on other worlds.”

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Entertainment

The Actual Purpose Gypsy Rose Deleted Her Public Social Media

Gypsy Rose Blanchard recently revealed she deleted her public social media pages. She wasn’t shy about explaining why her privacy matters more than social media’s hell-like energy.

According to Y! Entertainment, her release in December 2023 catapulted her into the limelight. And with fame, the trolls come running!

RELATED: Natalie Nunn Shuts Down Screenshots Showing Verbal Tussle With Gypsy Rose Account (Update)

Gypsy, 32, who once enjoyed social media, has decided to break away from the apps. As previously reported, the Louisiana native posted a video on TikTok shortly after her release from prison.

Recently, she utilized the same platform to explain why she deactivated her Instagram page and created a new private account. However, as of Friday, it seems like her public TikTok page is also gone. Fans first noticed her pull-back on socials on March 10.

Why Did Gypsy Rose Delete Her Instagram?

To keep it simple, Gypsy isn’t here for any pump-faking or delusional living.

“I do my best to live my authentic life and what’s real to me, and what’s not real is social media,” Rose explained. “Social media is literally a doorway to hell. It’s so crazy. I can’t even wrap my head around what social media is. I thought that once I got out of prison I’d come out and I’d enjoy social media like the next person, taking selfies and just acting goofy. It’s the simple stuff in life, right?”

Additionally, Gypsy Rose made it clear that this is a final decision. She has no plans to make her private Instagram account public in the future. She said her father’s guidance contributed to her decision.

“He gave me some guidance that I feel like I really need it. And that guidance was to show me that real life is something you can touch, something you can feel,” she said. “People you can actually hug.”

Furthermore, Rose noted how “public scrutiny” can be so cruel when she just wants to live a normal life.

“I created my private Instagram. And I got it verified,” she added. “And I had no trouble or doubts of deleting that public one.” 

Before deleting her public profile, Blanchard boasted about 7.8 million Instagram followers. Many wondered how she could delete her account at such a high number. But Gypsy clarified that she doesn’t “give a ‘F’ about a following.”

She first became a household name after she and her then-boyfriend Nicholas Godejohn schemed and, ultimately, murdered her mother in 2015.

Dee Dee, her mom, abused Gypsy Rose extensively throughout her childhood. She not only lied about her actual age but claimed Rose had medical conditions that she did not. Gypsy ultimately served eight out of a 10-year prison sentence.

Lifetime produced a movie about her life called ‘Love You To Death.’ A follow-up docuseries will be released this year called, ‘The Prison Confessions of Gypsy Rose Blanchard.’

RELATED: Gypsy Rose Blanchard Reflects On Her MMother’sMurder Amid Being Released Early From Prison
Categories
Science

Marine Energy?  Extra Magical Considering – Watts Up With That?

From MasterResource

By Robert Bradley Jr.

“Too many moving parts in a corrosive environment, requiring too much routine maintenance of large moving components. This is wildly unrealistic, fails the KISS Principle!” ( – Ed Thiel)

“[Stephen] Salter invented the ‘duck’ [system that converts into electricity some of the natural energy contained in waves] in 1974, wave energy has been just round the corner ever since. Tell me when and if it ever happens.” ( – Chris Wagstaffe)

A recent exchange on social media about the prospects of marine (aka tidal or wave) electricity brought some reality into energy magical thinking, the belief that what is technologically possible is a “green” solution to thermal power generation. Either now or about to be ….

An Optimistic Take

Russ Bates, founder of NXTGEN Clean Energy, excitedly announced: “Another step towards a sustainable future and another blow to #fossilfuels!” He continued:

The Intergovernmental Panel On Climate Change has found that #waveenergy converters could harvest 29,500 terawatt-hours of renewable electricity from the ocean every year. In the US alone, the technically recoverable amount of wave power has been estimated at 1,170 TWh, which is about 30% of the nation’s annual electricity consumption. This is great news for coastal communities, including #military facilities, as additional  #cleanenergy solutions.

Bates’s optimism was based on an article in CleanTechnica, “Wave Energy is (Really, Finally) Coming for Your Fossil Fuels,” which , however, admitted to prior failure in marine power:

If you’re guessing that a gigantic €9 million wave energy project under the wing of the firm Pelamis was the major disappointment, it sure was. In September of 2008 Pleamis launched an ambitious plan to float 25 wave energy converters into the Atlantic Ocean off the northern coast of Portugal, at Aguçadoura in the Porto district. The project started with the installation of three converters, and that’s where it ended. By December of 2008 all three devices were hauled into port after they sprouted leaks. The whole project ran out of funding in 2009, and Pelamis itself was shuttered in 2014.

BUT, a new generation of wave technology is ready for deployment! (it is always … always … coming)

Criticisms Float In

LinkedIn is populated by on-the-spot experts working in the different energy industries. So criticisms quickly followed. Stated Doug Houseman:

“I have worked on more than 20 wave power projects. Here are the issues to overcome to be successful:

1) the materials need to be immune to corrosion, including from sea water, bird poop, and seals.

2) mechanisms need to be immune to barnacles, sea weed and small sea life.

3) the systems need to not anger fisherman and be immune from drift nets and other fishing gear.

4) The system needs to work with just the force of gravity.

5) The system needs to make power from sea state one to sea state six, and survive sea state six with no damage

6) floating logs and other floating debris needs to not damage the system.

7) The system needs minimal cost for monitoring and communications, but it needs to have some monitoring

8) It needs to be clear of shipping channels and highly visible to any boats at sea.

9) It cannot leak any fluids, nor can it flake off toxic metals.

10) it needs to not interfere with swimming or other activities (surfing), nor can it be seen from the shore.

If you can solve these problems and have the system have a life of at least 20 years, you have a chance of making money with it.”

Added Thomas Marihart:

The bird poop alone is a major issue just for other technologies like floating solar. One of the last posts I recall on LinkedIn showcasing floating solar had a hard time getting a picture of the panels without any bird poop. I wonder what the solar output degradation is per year simply because of bird poop? Nature has a funny way of abusing anything artificial imposed on its environment.

The more complex and exotic these technologies get to make renewable energy, the more expensive they become, and the more they jump the proverbial shark. Green energy proponents seem to think that ‘happy days’ are just around the corner, but there is still a lot of work to do just to keep energy costs down and the lights on.

Engineer Joe Steinke, drawing from this article, considered economics and payback:

Until numbers are posted on the upfront CAPEX, operational maintenance, and capacity factors to calculate MWh, an accurate comparison can’t be made. Technologies with posted information like the “Blowhole” operated at a 20% capacity factor, cost millions, and produce small amounts of electricity (40 kw average) for a cost of $12 million. At a sell price of $0.25/kwh, it’s only 136 years to pay off the CAPEX at zero interest and O&M. Shore based system will take a km to produce 1MW with massive armoring, structure, and maintenance budgets.

Chris Bright, electrical system specialist living in Nottingham, England, added to Houseman (above) with gusto:

Wave power remains uncompetitive with other sources of power. The main reasons are:

1. The cost of building and maintaining devices that can withstand the full fury of storms.
2. Corrosion and bio-fouling.
3. The difficulty of converting the slow frequency low amplitude oscillatory motion to the high rotational speeds necessary to generate electricity, that being the most suitable vector for transmission ashore and beyond.

Possibly, the economics could be improved by combining wave power with coastal erosion defence, where the costs of the wave power devices could be defrayed by savings in conventional defences.

Anyone wishing to develop wave power should study the findings of R&D in the UK and Ireland. That would avoid much futile work.

We enjoy some of the better wave resource in the world. We have studied wave power since the Yom Kippur Arab-Israeli war in 1973 …. Wave power devices developed at that time included the Salter “nodding duck”, the oscillating water column, and the Cockerell contouring raft.

In simpler terms? Ed Thiel commented:

Too many moving parts in a corrosive environment, requiring too much routine maintenance of large moving components. This is wildly unrealistic, fails the KISS Principle!

Enough, another dead horse. But to the magical thinkers there is always hope. “Every technology will have some role in energy transition,” stated Mansoor Khan. “Considering the urgency to transition, newer technologies will need support to bring them to project deployment stage.” And Russ Bates thanked him.

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Health

FDA approves NASH liver illness drug from Madrigal Prescription drugs

In this photo illustration, the Madrigal Pharmaceuticals logo is displayed on a smartphone screen. 

Rafael Henrique | SOPA Images | Lightrocket | Getty Images

The Food and Drug Administration on Thursday approved the first-ever treatment for a common and potentially deadly form of liver disease that affects millions worldwide.

The FDA’s decision means Madrigal Pharmaceuticals has succeeded in a disease area that several larger companies have failed — or are still trying to break into. Madrigal shares jumped more than 20% in extended trading Thursday following the approval.

Novo Nordisk and Eli Lilly are testing their respective blockbuster weight loss injections as treatments for the same kind of liver disease, called nonalcoholic steatohepatitis, or NASH.

Madrigal’s drug, which will be marketed as Rezdiffra, is specifically approved to treat patients with NASH who also have moderate-to-advanced liver scarring. The treatment must be used with diet and exercise, according to the FDA.

NASH is a serious form of liver disease characterized by excess fat buildup and inflammation in the liver and can lead to liver scarring, also known as fibrosis, along with liver failure and liver cancer. The condition is often associated with other health problems, such as high blood pressure, Type 2 diabetes and obesity.

Roughly 6 million to 8 million people in the U.S. have NASH with moderate-to-advanced liver scarring, according to an estimate cited by the FDA.

Madrigal said in a statement that the drug will be available in April. The company also said it has set up an assistance program to help people who don’t have insurance access Rezdiffra. Madrigal has not disclosed how much the treatment will cost.

“Previously, patients with NASH who also have notable liver scarring did not have a medication that could directly address their liver damage,” said Dr. Nikolay Nikolov, acting director of the FDA’s Office of Immunology and Inflammation.

Madrigal’s drug specifically received an “accelerated approval” from the FDA. That designation clears drugs faster if they fill an unmet medical need for serious conditions, and requires the drugmaker to further study the treatment and verify its clinical benefits.

Madrigal’s medication works by activating a thyroid hormone receptor in the liver to help reduce fat accumulation. Patients take it by mouth each day.

In a late-stage study published last month, Rezdiffra helped resolve symptoms of NASH and improve liver scarring without making the condition worse. Notably, the rate of serious adverse events was comparable between the patient group that took the drug and another group that received a placebo.

The most common side effects related to treatment were diarrhea, nausea and vomiting. 

Some specialists have started calling NASH metabolic dysfunction-associated steatohepatitis, or MASH, to avoid potentially stigmatizing language.