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The student-athletes have been working too hard for their season to be cancelled. #WeWantToPlay https://t.co/lI3CCKZ4ID— Donald J. Trump (@realDonaldTrump) August 10, 2020 179

The US Food and Drug Administration approved two cancer treatments, Vitrakvi and Xospata, this week after expedited reviews.Vitrakvi, approved Monday, is "a treatment for adult and pediatric patients whose cancers have a specific genetic feature (biomarker)."The FDA said in a statement that it is the second approved cancer treatment that is based on a tumor biomarker instead of the place in the body where the tumor originated.Vitrakvi will be used for the treatment of solid tumors that have an NTRK (neurotrophic receptor tyrosine kinase) gene fusion that do not have a known resistance mutation, that are not metastatic or where surgical removal is likely to lead to severe morbidity, and that have no alternative treatments or have progressed after treatments.NTRK genes are rare but occur in many types of cancer, the FDA said, such as mammary analogue secretory carcinoma and infantile fibrosarcoma.Xospata tablets, approved Wednesday, are for the "treatment of adult patients who have relapsed or refractory acute myeloid leukemia (AML) with a FLT3 mutation," according to the FDA.Alongside the tablets, the agency also approved a diagnostic to detect the mutation."Approximately 25 to 30 percent of patients with AML have a mutation in the FLT3 gene. These mutations are associated with a particularly aggressive form of the disease and a higher risk of relapse," Dr. Richard Pazdur, director of the FDA's Oncology Center of Excellence, said in the statement.AML is a rapidly progressing cancer that affects the numbers of normal blood cells and calls for continuous transfusions, the FDA said.Both treatments were granted Priority Review designation.Priority Review, established in 1992, means the FDA aims to review the drug or treatment within six months, opposed to 10 months for a standard review."A Priority Review designation will direct overall attention and resources to the evaluation of applications for drugs that, if approved, would be significant improvements in the safety or effectiveness of the treatment, diagnosis, or prevention of serious conditions when compared to standard applications," the FDA says.Both treatments also received?orphan drug?designation, a status granted to drugs for rare diseases or conditions. 2261

The Trump Administration pushed through a million contract to study whether the active ingredient in Pepcid is an effective treatment for Covid-19. That contract is now under scrutiny after a government whistleblower accused a senior administration official of rushing the deal through without the scientific oversight necessary for such a large federal award. The Food and Drug Administration gave the clinical trial speedy approval even as a top agency official worried that daily injections of high doses of famotidine for already sick patients pushed the levels of what was considered safe “to the limits,” internal government emails show. And the doctors who initially pushed the Pepcid idea are locked in a battle for credit and sniping over allegations of scientific misconduct.The origins of the interest in famotidine are under dispute, but there were reports out of China that patients who took the drug survived the virus, while patients who took other heartburn medications were not surviving. Initial observational studies in the U.S. were promising, however scientists urged more research was needed. Meantime, the trial itself that was part of the million contract is on pause due to a shortage of hospitalized COVID-19 patients in New York, delaying it indefinitely. A vaccine or effective treatment could be available before the study is complete. 1380

The wild ride on Wall Street just got crazier.The Dow dropped about 345 points, or 1.4%, on Tuesday, completely reversing a 244-point gain from early in the day. The selloff followed Monday's 670-point spike.The Nasdaq plunged nearly 3% -- wiping out nearly all of Monday's huge gains for the tech sector. The Nasdaq is now up just 1.5% on the year.Facebook, Twitter, Tesla and Nvidia all fell sharply. Netflix tumbled 6%, its biggest decline in two years."We started bleeding when large tech got hit hard," said Art Hogan, chief market strategist at B. Riley B.Investors poured money into bonds Tuesday. The 10-year Treasury yield slipped to 2.77%, the lowest since early February.But the sinking yields also narrowed the closely-watched gap between short and long-term rates, known as the yield curve."That has persistently been a signal of an economic slowdown," said Hogan. "I don't think that's the case here."A "flattening" yield curve also makes it harder for banks to make money on the difference between what they lend out and pay interest on. Bank of America, Wells Fargo and PNC fell more than 2% apiece.The-CNN-Wire 1135

The University of Michigan Athletic Department announced Tuesday that they had to cancel its annual rivalry game against the No. 3 Ohio State Buckeyes due to a COVID-19 outbreak within its football program.In a press release, the athletic department said the decision to cancel was made after discussions with medical experts, health department officials, and university administration."The number of positive tests has continued to trend in an upward direction over the last seven days," said Warde Manuel, U-M's Donald R. Shepherd Director of Athletics, in the news release. "We have not been cleared to participate in practice at this time. Unfortunately, we will not be able to field a team due to COVID-19 positives and the associated quarantining required of close-contact individuals. This decision is disappointing for our team and coaches, but their health and safety are paramount, and it will always come first in our decision-making."Michigan says it will continue to test daily "with hopes of getting back on the practice field when cleared by medical professionals."According to the Associated Press, the Buckeyes had to cancel its Nov. 28 game against Illinois after head coach Ryan Day, other coaches, and players in the program tested positive for the coronavirus, the AP reported.On Tuesday, the American Athletic Conference announced that the regular-season football finale between No. 7 Cincinnati and No. 18 Tulsa will not happen Saturday and won't be rescheduled.The conference canceled the Dec. 12 game due to positive COVID-19 cases and contact tracing within the Bearcats' program.The AAC said the two teams would play on Dec. 19 in the American Athletic Conference title game. 1710