Trump grants clemency to British billionaire Joe Lewis
Pardon Granted: U.S. President Donald Trump has pardoned British billionaire Joe Lewis, who pleaded guilty to insider trading in New York last year.
Background on Lewis: Lewis, who is in his late 80s and controls a majority of Tottenham Hotspur, was sentenced to pay a $5 million fine and serve three years of probation for passing inside information to friends and associates.
Previous Pardons: Lewis joins a list of wealthy individuals, including Binance founder Changpeng Zhao and Nikola founder Trevor Milton, who have received pardons from Trump during his second term.
Lewis' Statement: Following the pardon, Lewis expressed relief and stated he looks forward to enjoying retirement while his family continues to build their businesses.
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Tango Therapeutics CEO Barbara Weber Retires; Malte Peters Appointed as New CEO
- Leadership Transition: Founding CEO Barbara Weber, M.D. retired on January 8, 2026, transitioning to Executive Chair, while Malte Peters, M.D. was appointed CEO immediately, ensuring continued growth during the clinical phase.
- Strategic Continuity: In her new role, Dr. Weber will closely collaborate with the management team to support strategic priorities, ensuring a seamless transition and clinical execution throughout 2026.
- Clinical Milestones: The company reaffirmed anticipated clinical milestones for 2026, including combination trials with vopimetostat, marking ongoing innovation in cancer treatment.
- Industry Expertise: Dr. Peters brings extensive clinical development experience from his previous role as Chief R&D Officer at MorphoSys AG, expected to drive Tango's next phase of growth in cancer drug development.
5 Biotech Stocks to Keep an Eye On for Possible Growth
Biotech Industry Performance: The biotech sector has shown resilience in 2025, driven by new drug approvals and a surge in mergers and acquisitions, despite challenges from tariffs and macroeconomic uncertainties.
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New Drug Approvals and Pipeline Challenges: Over 40 new drugs were approved by the FDA in 2025, but pipeline setbacks and potential tariffs pose risks, particularly for smaller biotech firms that rely heavily on successful drug development.
Positive Outlook and Stock Performance: The Zacks Biomedical and Genetics industry ranks among the top 37% of Zacks industries, outperforming both the S&P 500 and the broader medical sector, indicating strong investor interest and potential for growth.
