Cash – DC Writers Way http://dcwritersway.org/ Fri, 01 Oct 2021 12:22:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://dcwritersway.org/wp-content/uploads/2021/05/cropped-icon-32x32.png Cash – DC Writers Way http://dcwritersway.org/ 32 32 Catholic Bishop declares September 9 a day to work for racial healing https://dcwritersway.org/catholic-bishop-declares-september-9-a-day-to-work-for-racial-healing/ https://dcwritersway.org/catholic-bishop-declares-september-9-a-day-to-work-for-racial-healing/#respond Thu, 08 Apr 2021 02:38:35 +0000 https://dcwritersway.org/catholic-bishop-declares-september-9-a-day-to-work-for-racial-healing/

GRAND RAPIDS, Michigan – Catholics in the Diocese of Grand Rapids will host a day of prayer and fasting in support of racial justice.

Amid the ongoing racial unrest in the United States, Catholics will unite to pray for collective healing as the church continues to work for peace and racial justice.

Bishop David J. Walkowiak called on Catholics to pray and fast on Wednesday September 9 in a bid to eradicate racism and peacefully seek racial justice in the country, according to a press release.

Wednesday at 7 p.m., the bishop will hold mass at St. Andrew’s Cathedral, 215 Sheldon Blvd. SE in Grand Rapids. The guidelines for COVID-19 will be in effect for those attending in person.

The mass will also be broadcast live on grdiocese.org and the Grand Rapids Diocese Facebook page.

This particular date was chosen in honor of the feast of Saint Peter Claver, a Jesuit missionary who dedicated his life to the aid of African slaves in South America in the 17th century. He is the patron saint of African missions, African Americans, slavery and interracial justice.

Walkowiak encourages Catholics in the diocese to read the Bishop’s pastoral letter against racism titled “Open our hearts wide: the lasting call to love. “ The bishop also suggests praying the rosary or attending mass, fasting and learning more about the life of Saint Peter Claver.

George Floyd’s death in May sparked protests in Grand Rapids and across the country against racism and police brutality. Floyd, a black man, died on May 25 after a white Minneapolis policeman continued to kneel on his neck for nearly nine minutes as he pleaded he couldn’t breathe.

The death of Breonna Taylor, from Grand Rapids, Ky., Has also become a national symbol in a movement against police brutality and racism. Taylor, 26, was shot dead by Louisville police on March 13 on a warrant against knocking on her residence.

More on MLive:

President Donald Trump holds rally at Saginaw County Airport on Thursday

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Michigan Injection Well Owner Fines $ 73,000 for “Material” Violations

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Kuwaiti banks to expatriates: an expired visa does not mean a waiver of loans https://dcwritersway.org/kuwaiti-banks-to-expatriates-an-expired-visa-does-not-mean-a-waiver-of-loans/ https://dcwritersway.org/kuwaiti-banks-to-expatriates-an-expired-visa-does-not-mean-a-waiver-of-loans/#respond Thu, 08 Apr 2021 02:38:15 +0000 https://dcwritersway.org/kuwaiti-banks-to-expatriates-an-expired-visa-does-not-mean-a-waiver-of-loans/

The majority of those who have defaulted on their loans are people working as teachers, engineers and medical staff.
Image Credit: Shutterstock

Kuwait City: As many expats have started to leave Kuwait due to expired visas, some banks have started the process of suing overdue loans, Al Rai reported.

A source told Al Rai: “Loans taken out by expatriates are not canceled if their residency expires and some banks have started to sue defaulting clients abroad and their sponsors at home, with the help of companies. debt collection.

There are banks that will approve lawsuits even if the loan is as low as 50 Kuwaiti dinars, while others will determine the fee based on the weight of the funding, the source added.

In addition, banks will freeze debts first and leave room for settlements, if necessary, the source said.

By next month, there will be an accurate indication of the total number of outstanding loans by expats.

The source clarified that “the weight of money borrowed by expatriates is not a huge amount, in terms of value, because the loan limit for the majority of expatriates is specific, often oriented towards consumer spending, which have specified conditions based on wages “.

The majority of those who have defaulted on their loans are people working as teachers, engineers and medical staff.

Of the 4.4 million people living in Kuwait, three million are expatriates.

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Ringing batsman celebration features rounded back tuck, local gymnast scores 9.75 https://dcwritersway.org/ringing-batsman-celebration-features-rounded-back-tuck-local-gymnast-scores-9-75/ https://dcwritersway.org/ringing-batsman-celebration-features-rounded-back-tuck-local-gymnast-scores-9-75/#respond Thu, 08 Apr 2021 02:37:21 +0000 https://dcwritersway.org/ringing-batsman-celebration-features-rounded-back-tuck-local-gymnast-scores-9-75/

BAY CITY, MI – Brett Gross won the game.

But Jamario Harris won the celebration.

Bay City Central ran the length of the court in the final five seconds, carrying the ball to a wide-open Gross under the basket for the winning bucket in a thrilling 67-65 victory over Ogemaw Heights in a shocking non-conference men’s basketball. .

The spectacular victory sent the Wolves into full celebration mode, with Harris providing the exclamation mark.

The 6-foot-2, 185-pound freshman, who scored 12 points in the win, ended the hysteria by rushing to midfield and performing a rounded back tuck – and sticking landing.

MLive contacted Essexville Garber senior and Savannah Kokaly, gymnast at Cornell University for some official score on the Harris flip.

“Wow!” Kokaly said. “Overall, besides his leading position, I would say the execution of the rounded tail tuck was worthy of level 10. I give him a 9.5 all day and a 9.75 on a Friday night after a big win. . Go ahead, Jamario!

Perhaps inspired by gaming referee Bruce Moore, whose wife Nanci is Bay County’s top gymnastics guru as a longtime coach of the Bay Valley gymnastics team, Harris stated his athleticism to an already impressed crowd.

“He’s called an athlete,” said Center teammate Cameron Washington, who scored a high 28 points in the win.

But it was the last two points – and the only two points of the game for Gross – that made it a fantastic finish and set up an entertaining celebration.

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House passes bill easing restrictions on PPP loans: associations now https://dcwritersway.org/house-passes-bill-easing-restrictions-on-ppp-loans-associations-now/ https://dcwritersway.org/house-passes-bill-easing-restrictions-on-ppp-loans-associations-now/#respond Thu, 08 Apr 2021 02:36:56 +0000 https://dcwritersway.org/house-passes-bill-easing-restrictions-on-ppp-loans-associations-now/

The Paycheck Protection Flexibility Act, adopted on May 28, aims to make PPP loans more accessible by relaxing their terms of use. However, the bill does not extend PPP eligibility to include 501 (c) associations as does the HEROES law passed by the House.

On May 28, the House voted 417-1 to pass legislation that will make urgent changes to the Paycheck Protection Program (PPP), created to help small businesses struggling during the ongoing COVID-19 pandemic.

The Paycheck Protection Flexibility Act, introduced by Representatives Chip Roy (R-TX) and Dean Phillips (D-MN), is designed to make PPP loans more accessible by making its terms of use more flexible. It is important to note that the bill does not extend PPP eligibility to include 501 (c) associations as does the HEROES law passed by the House.

The legislation would give small businesses more time to use P3 loans by extending the eight-week period during which they must use the money to qualify for a loan forgiveness to 24 weeks. The bill also gives PPP recipients more flexibility by amending the 75/25 rule, which requires fund recipients to use 75% of the money for salary costs in order to be eligible for loan cancellation. . The new ratio would be at least 60 percent on payroll and no more than 40 percent on other expenses.

“I didn’t want to see another local institution shut down because Congress is more about politics than helping Americans who need it,” Roy said. said in a press release. Fortunately, our bipartisan bill puts Americans first and will ensure that our favorite small businesses are on the other side. I thank my colleagues for their overwhelming support today and look forward to its swift passage in the Senate.

The House’s passage of the Roy-Phillips bill reflects a decision by executives to focus on smaller changes to existing programs like the PPP that were created to help businesses during the pandemic, although a different set Large-scale COVID-19 relief will likely be needed sooner rather than later. Senate leaders have rejected the $ 3 trillion HEROES law and negotiations on an alternative relief measure have yet to begin.

There are two similar bills focused on quick fixes for the PPP circulating in the Senate. The senses. Cory Gardner (R-CO), Angus King (I-ME) and Steve Daines (R-MT) introduced a complementary bill to the Roy-Phillips bill last Friday, and Senator Marco Rubio (R-FL) , chairman of the Senate Small Business Committee, also introduced a bill last week that would give businesses up to 16 weeks to use loans instead of eight weeks. No vote is yet scheduled for either bill in the Senate.

ASAE has advocated for associations’ access to PPP in Senate legislation or in a larger negotiated COVID-19 relief plan that will likely take shape next month.

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Raila’s archive video on government debt sparks backlash [VIDEO] https://dcwritersway.org/railas-archive-video-on-government-debt-sparks-backlash-video/ https://dcwritersway.org/railas-archive-video-on-government-debt-sparks-backlash-video/#respond Wed, 07 Apr 2021 23:17:44 +0000 https://dcwritersway.org/railas-archive-video-on-government-debt-sparks-backlash-video/

An archive video of Orange Democratic Party (ODM) leader Raila Odinga lecturing the Jubilee government on its appetite for loans and the debt crisis to which the country has been making the rounds on social media.

In the video, Raila questioned the ruling party’s intention to borrow more than Ksh 86 billion from foreign institutions to pay off inflated debt instead of focusing on development projects.

“Jubilee syndicates Ksh 86 billion in the form of international bank loans, not for development but to fill the holes their looting has created,” Raila said.

The leader of the Democratic Party of the Orange Party, Raila Odinga, during a former public service.

To file

Raila went on to say that much of the money was at risk of being looted. He claimed that Kenya had reached the super league of corruption.

“Kenya has finally reached the Corruption Super League, where we play with long-time proven giants who are doomed to collapse. Remember gadgets never last, Kenya is at a breaking point. because of this problem, “Raila said.

The video, which was trending for much of the day, was shared by Kenyans who questioned the motives of the former opposition leader who remained agape about the Ksh 255 billion loan from the International Monetary Fund.

“The same Raila who questioned the huge borrowing has now joined the borrowers … Was he questioning the borrowing because he was worried about the impact on mwananchi or because his pockets didn’t were not met? ”

“Those who opposed loans are now experts on why we need loans

“If Baba had remained steadfast in his fight for social equality, corruption, etc., 2022 would be his own,” read a comment section online.

The debt crisis has been a source of concern among Kenyans and they have expressed their anger at the government’s borrowing frenzy. According to the 2021 fiscal policy statement, Kenya’s public debt stands at Ksh 7.06, which is equivalent to 65% of GDP.

The recent outcry came after the government borrowed 255 billion Ksh from the IMF. The Kenyans then drafted an online petition urging the international body to cancel the loan. Currently, more than 200,000 people have signed the petition.

Further away, #IMFStopLoaningKenya has been trending as Kenyans debate the economic crisis that could ease after President Uhuru Kenyatta revised curfew times and instituted lockdowns in five counties (Nairobi, Nakuru, Machakos, Kiambu and Kajiado) that ‘he qualified as red zones.

See the video:

https://www.youtube.com/watch?v=2OKGLGGsXd8

Corruption struggle

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Concerns rise as South Korean household debt moves closer to GDP https://dcwritersway.org/concerns-rise-as-south-korean-household-debt-moves-closer-to-gdp/ https://dcwritersway.org/concerns-rise-as-south-korean-household-debt-moves-closer-to-gdp/#respond Wed, 07 Apr 2021 23:17:42 +0000 https://dcwritersway.org/concerns-rise-as-south-korean-household-debt-moves-closer-to-gdp/



Customers consult with bank workers about loan products at a bank in Seoul on January 5. (Yonhap)

Household debt in South Korea has reached nearly 100% of the country’s gross domestic product, raising concerns that central bank rate hikes could weigh heavily on the household sector, according to a report released on Monday.

The ratio of Korean household debt to its GDP – the market value of all final goods and services produced in an economy over a certain period – stood at 98.6% at the end of the month. June of last year, according to the Korea Institute report. of Public Finances.

The household debt level of Asia’s fourth-largest economy exceeded the global average by 63.7 percent and the average for advanced countries by 75.3 percent, the statement said.

In addition, Korean household debt figures have grown at a much faster rate than those of its foreign counterparts.

The latter figure represents a gain of 27.6 percentage points compared to 2008. On the other hand, between 2008 and 2020, the world average gained 3.7 percentage points and the advanced countries recorded on average a decrease of 0, 9 percentage point, according to data.

In addition, Korean households were more dependent on short-term loans than households in other major economies. Of the country’s total household debt, short-term debt represented 22.8%, far more than the corresponding figures of 2.3% for France, 3.2% for Germany, 4.5% for France. ‘Spain and 11.9% for Great Britain. The United States was the exception, with a short-term debt ratio of 31.6%.

Korean household debt is on the rise as people increasingly borrow money from financial institutions to buy apartments or invest in stocks in a prolonged low interest rate environment.

The Bank of Korea cut the benchmark interest rate to an all-time low of 0.5% in May of last year after an emergency rate cut to 0.75% in the previous March. This was done to inject liquidity into banks, businesses and households affected by the COVID-19 pandemic.

Due to the abundance of liquidity, the total value of all financial loans and credit card payment services offered to households reached an all-time high of 1,726 trillion won ($ 1.53 trillion) in December, according to BOK data.

The research institute also noted that a sharp hike in the benchmark interest rate against a backdrop of rapidly growing debt could trigger household debt, which could have negative consequences for the real economy.

Meanwhile, BOK Governor Lee Ju-yeol earlier said “it is premature to change the current monetary easing policy due to continued economic uncertainty amid the protracted COVID pandemic. -19 ”.

By Choi Jae-hee (cjh@heraldcorp.com)

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Personal loan debt statistics during the pandemic https://dcwritersway.org/personal-loan-debt-statistics-during-the-pandemic/ https://dcwritersway.org/personal-loan-debt-statistics-during-the-pandemic/#respond Wed, 07 Apr 2021 23:17:40 +0000 https://dcwritersway.org/personal-loan-debt-statistics-during-the-pandemic/ monthly payment obligations.

Average personal loan debt per consumer

Loan balances also increased in 2020, but barely. The average loan balance increased by 1.2% – $ 199 – per consumer between 2019 and 2020. You can come to this conclusion by looking at the percentage change in total debt outstanding (6%) and in the number total accounts (8%). If the number of accounts remained stable but the total outstanding debt increased, this would have resulted in a larger increase in the average loan balance.

While consumers opened 3.1 million new personal accounts in 2020, this is less than the number of accounts opened in 2019. In fact, new account openings or personal loan arrangements – the process by which a borrower applies for a loan and a lender accepts its application — are down 26.5% in 2020 from 2019, according to a Credit Karma report.

Average personal loan size

The average amount of personal loans also declined during the pandemic. In May 2020, just two months after the declaration of the Covid-19 pandemic, the amount of loans began to decline. In December 2020, the average loan amount was $ 4,815, down about 20% – or $ 1,197 – from January 2020, according to Credit Karma.

However, “there is a typical seasonal decline towards the end of the year each year,” according to Credit Karma. “The decline may well be related to this seasonal trend.”

While the decline in loan sizes in December could have been a seasonal trend, the decline that started in May does not appear to be. This could be due to tighter qualification requirements for lenders and the number of loans they were willing to give.

Comparing May to June (the period when the 2020 decline began) for 2019 and 2020 gives a more accurate picture of the initial impact of the pandemic. In May 2019, the average loan amount was $ 6,099, while in June 2019 it was $ 6,137, an increase of $ 38. Conversely, in May 2020, the average loan amount was $ 6,509, while in June 2020, it was $ 6,117, a decrease of $ 390.

Common uses of personal loans

Considering the slowdown in the growth of personal loans, you may think that the pandemic has caused a shift in the way consumers are using personal loans. This does not seem to be the case.

Debt consolidation Where refinancing credit card debt remained the main reason for apply for a personal loan, just like before the start of the pandemic, according to Credit Karma. Borrowing for home improvement projects rose slightly after the start of the pandemic, which may reflect more people starting home improvement projects while quarantined at home.

Related: Best Personal Loans For Debt Consolidation 2021

Credit Ratings Among Personal Loan Holders

Although it is not related to the overall indebtedness of personal loans, credit scores among the personal loan holders provide insight into how the lenders have qualified the loans. Lenders have started to tighten their qualification requirements at the start of the pandemic between March and April.

When the pandemic hit, people with personal credit scores between 600 and 659 saw the biggest drop in approvals. Additionally, data from TransUnion shows that the average credit score of consumers with an open personal loan increased during Covid-19. In December 2020, the average score was 643.

It is obvious that lenders tend to give loans to people with higher credit scores because higher scores are a sign of financial responsibility. Although it is not impossible to obtain a personal loan with bad credit during the pandemic, as evidenced by the average credit score of loan holders in the fair credit range, this is a greater challenge than in December 2019.

Personal loan vs other debt

Americans have also changed their ways with other types of debt in 2020.

Revolving credit is financing that you can reuse as you pay off your balance, such as credit card, personal lines of credit and Home equity lines of credit (HELOC). Non-revolving credit, on the other hand, is a lump sum of money that you pay off in fixed monthly installments and that you cannot reuse once paid off. These accounts include auto loans and all other non-revolving loans, such as personal loans and loans for mobile homes, education, boats, trailers or vehicles. vacations.

Revolving debt hit $ 974.9 billion in 2020, down 10.55% – $ 115.1 billion – from $ 1.09 trillion in 2019, according to the Federal Reserve. In short, people have started paying off their credit card debt in 2020.

On the other hand, non-revolving debt hit a record high of $ 3.20 trillion in 2020, up 3.9% – $ 120 billion – from 2019.

“While personal loans continue to be a great option for many clients, clients have other options,” says Matt Lattman, vice president of personal loans at Discover. “For example, many consumers who own a home and want to make improvements have taken advantage of low mortgage rates and used home equity loans. “

How will personal loans develop in the future?

Personal loans remain a common funding method for people looking to access additional cash. While we cannot predict the future, trends indicate that personal debt will continue to grow in the years to come. However, the economy will play a key role in how lenders provide these loans and the number of Americans who will need to access financing.

More from Forbes Advisor

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Femina Power Brands 2021: Pioneers in Housing Finance in India – HDFC https://dcwritersway.org/femina-power-brands-2021-pioneers-in-housing-finance-in-india-hdfc/ https://dcwritersway.org/femina-power-brands-2021-pioneers-in-housing-finance-in-india-hdfc/#respond Wed, 07 Apr 2021 23:17:39 +0000 https://dcwritersway.org/femina-power-brands-2021-pioneers-in-housing-finance-in-india-hdfc/

Making informed decisions is essential for success in personal finance. With the volatile market trends and the changes brought by 2020, the options you have chosen for improving your finances in the past may not be achievable at this time. Investing with a bank that you trust and that serves you is vitally important to securing your future.

To honor these organizations, Femina and ET Edge have come together for the inaugural Femina Power Brands 2021, a virtual gathering of esteemed guests and business leaders from the lifestyle, media and entertainment industry to unveil the most sought-after lifestyle brands from the past year. HDFC was celebrated at this event for the excellent strength of its brand resulting from its tireless focus on corporate governance and its high ethical standards. HDFC has consistently strived and earned an excellent reputation for professionalism, transparency, integrity and an impeccable record of user-friendly services. These values ​​have not only helped to perpetuate but have propelled the company further. They have you covered for all kinds of service portfolios, from home loans, home loans, business loans for non-residential premises (PRNs), rural housing loans.

HDFC Finance


Vision and mission

Our vision is to make India a proprietary democracy. And our mission is to improve the residential housing stock in the country by providing housing finance in a systematic and professional manner and to promote home ownership. We aim to increase the flow of resources to the housing sector by integrating the housing finance sector into all national financial markets.

HDFC Finance


What is the relationship between HDFC and its consumers?

HDFC has always believed in the philosophy of “learning by doing” and has always been open to ideas from customers, employees and supporters. In fact, products like home improvement loans, add-on loans, hybrid home loans that were launched after the home loan product and were based on customer feedback and needs. Product innovation at HDFC follows a simple rule: Simple products, when executed well, capture the attention of consumers.

The HDFC brand derives its strength from the trust it has built over the years. As a customer-centric organization, our service model revolves around customers. This has helped us gain the trust of our customers as we are now seeing the 3e generating the return of our clients for a loan for their own home. Our experience gained over the years has enabled us to advise and guide clients, which is a differentiator for which HDFC is well known.

HDFC Finance

HDFC has consistently strived and earned an excellent reputation for professionalism, transparency, integrity and an impeccable record of user-friendly services. These values ​​have not only helped to sustain, but also propelled the company further. And despite the fiercely growing competition, especially from commercial banks, HDFC has steadily strengthened its core business due to its operational efficiency and strong customer base.

HDFC’s strength lies in its pioneering value-added services, delivered by a dedicated team of trained and experienced professionals. Whether it’s having advanced loan processing capabilities, offering personalized home loan products, a bunch of flexible repayment options to serve its growing customer base, or providing Technical documentation advice, HDFC has always had an impeccable record of user-friendliness.

HDFC Finance


Value proposition for consumers

HDFC has always been a customer-centric business. He has always sought to establish long-term customer relationships. As we know, the cost of acquiring a customer is higher than maintaining and strengthening existing relationships.

HDFC’s extensive product portfolio includes both home and non-home loans, meeting the diverse needs of consumers. Its diverse portfolio of loan offerings includes loans to residents and NRIs for the purchase / construction of a house or office, renovation, extension, rural housing loan, loan against property, etc. Apart from this, each product is customized to meet the various requirements of particular customers. While these are flexible repayment options, include the Gradual Repayment Facility (SURF), Flexible Loan Payment Plan (FLIP), tranche-based EMI, Accelerated Repayment Program, and ‘telescopic repayment option.

HDFC Finance

HDFC has focused and invested in digital transformation over the past few years for better customer engagement, but the pandemic has led to a much greater focus which has allowed it to continue operating as usual. HDFC is among the first in the Indian mortgage industry to offer instant online electronic approval for a home loan. The HDFC website offers various new features to improve customer experience, such as live chat, one-click call feature, missed call service, and home assistance module. The online home loans module on the website allows the user to complete the entire home loan application anytime, anywhere from the comfort of their home or office. The existing customer portal offers a host of digital services to help the customer easily manage their home loan account. From submitting an online disbursement request to checking interim interest or downloading interest statements online to instant requesting a top-up loan.

Learn more about the event here

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City of Campbell: New Paycheck Protection Program Loans Now Available https://dcwritersway.org/city-of-campbell-new-paycheck-protection-program-loans-now-available/ https://dcwritersway.org/city-of-campbell-new-paycheck-protection-program-loans-now-available/#respond Wed, 07 Apr 2021 23:17:36 +0000 https://dcwritersway.org/city-of-campbell-new-paycheck-protection-program-loans-now-available/

January 13, 2021

On January 8, the U.S. Small Business Administration, in consultation with the U.S. Treasury Department, announced that the federal government’s Paycheck Protection Program (PPP) had reopened for new borrowers and some existing PPP borrowers. .

New eligible couriers can apply for a first-draw PPP loan, while eligible couriers who have already received a PPP loan can apply for a second-draw PPP loan. The deadline to apply for either loan is March 31, 2021.

The new PPP loan financing totaling $ 284 billion is made possible by the Law on Economic Assistance to Small Businesses, Nonprofits and Hard-Affected Sites, which is included in the Law on the consolidated appropriations adopted by Congress and signed by the president on December 27. 2020.

  • PPP borrowers can set the period covered by their PPP loan to be between 8 and 24 weeks to best meet their business needs
  • PPP loans will cover additional expenses including operating expenses, property damage costs, supplier costs, and worker protection expenses
  • Program eligibility is broadened to include 501 (c) (6), housing co-ops, destination marketing organizations, among other types of organizations
  • PPP offers greater flexibility to seasonal employees
  • Some existing PPP borrowers may request to change the amount of their first-draw PPP loan
  • Some existing PPP borrowers are now eligible to apply for a second draw PPP loan

New Barrowers for First Draw PPP Loan Details

Existing barrowers for second draw PPP loan details

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Magenta is ready to paint your portfolio green https://dcwritersway.org/magenta-is-ready-to-paint-your-portfolio-green/ https://dcwritersway.org/magenta-is-ready-to-paint-your-portfolio-green/#respond Wed, 07 Apr 2021 23:17:35 +0000 https://dcwritersway.org/magenta-is-ready-to-paint-your-portfolio-green/

For patients with certain blood cancers, a stem cell transplant can often be a curative treatment. However, it is also a complex process riddled with severe toxicities and high rates of relapse or failure. These problems explain at least part of why about 60% of cancer patients, a third of patients with genetic diseases, and 5% of autoimmune patients eligible for a stem cell transplant receive one. It’s not hard to imagine that if a safer and more efficient process exists, the market could potentially expand. Enter Therapeutic magenta (NASDAQ: MGTA).

The lead compound of clinical-stage biotechnology, MGTA-145, has the potential to revolutionize the current standard of care transplant process for patients and donors, making it faster and safer for all parties.

Image source: Getty Images.

Focus on donors

When you donate stem cells, it takes an average of five or more days to collect them. This is an inefficient process for a donor because it requires daily injections of a drug called G-CSF, which stimulates the release of stem cells from the bone marrow into the bloodstream for collection. These daily injections cause significant bone pain and a handful of other side effects. To make matters worse, around 15% of donors will need multiple collection attempts, which means more daily injections of G-CSF. It is perhaps not surprising that about 50% of registered donors refuse to donate when called upon to do so.

Patients receiving a stem cell transplant, on the other hand, must first undergo treatment with G-CSF to increase the release of their stem cells from the bone marrow. so undergo chemotherapy and radiation therapy to try to get rid of any bad or cancerous cells from the bone marrow before they receive their transplant. It’s a lot of steps, a lot of time, and a lot of potential side effects.

Magenta is working to streamline this process and MGTA-145 has the potential to become the first drug approved for this stem cell mobilization in both donors and transplant recipients. (Although G-CSF is commonly used by off-label clinicians for donor stem cell mobilization, the drug is actually not explicitly approved for this use.) Phase 1 studies have shown a three-fold increase the number of stem cells collected from healthy donors. when treated with MGTA-145 versus G-CSF, and surprisingly 88% of donors infused with MGTA-145 were able to have their stem cells collected on the same day, compared to zero for the G-CSF group. Finally, there was only one 1% rate of grade 2-4 side effects with MGTA-145; this rate is 38% for the G-CSF.

Data from two phase 2 trials are expected in the second half of 2021. A trial examines the effect of MGTA-145 on stem cell mobilization and collection, as well as the still significant progression-free survival rate, in cases of multiple myeloma. The other examines the effect of MGTA-145 on the mobilization, collection, and disease outcome of stem cells for acute myeloid leukemia (AML), acute lymphoid leukemia (ALL), and myelodysplastic syndrome (MDS).

How green can magenta turn?

So far, the MGTA-145 appears to be faster, safer, and requires fewer donor collections than the current standard of care, with no competition on the horizon. So what does the addressable market look like?

A place to start measuring is with Sanofi‘s (NASDAQ: SNY) plerixafor, which is currently given to about half of the patients undergoing stem cell therapy for certain blood cancers. This drug had sales of $ 200 million in 2019.

However, since MGTA-145 makes donation less complicated, it is no exaggeration to imagine that the drug could work as a catalyst to increase the number of stem cell transplants performed each year. Management estimates that it can grow the market from around 90,000 worldwide today to over 175,000. Magenta has also started to explore the utility of MGTA-145 in the gene therapy market, having already established a partnership with Therapeutic bundle (NASDAQ: BEAM), blue bird bio (NASDAQ: BLUE), and AVROBIO (NASDAQ: AVRO) mobilize stem cells more effectively for their gene therapy. Phase 2 trials in partnership are already underway.

If future trials of the MGTA-145 continue to be positive, which I think is likely, $ 200 million would likely be just the start of the addressable market. This could easily be more than double if you take into account the potential increase in donors and procedures, as well as the gene therapy market. With a current market cap of around $ 500 million and other promising candidates in the pipeline, Magenta is well positioned to add some green to health investor portfolios over the next few years – not to mention making a difference for tens of thousands of patients and donors.

This article represents the opinion of the author, who may disagree with the “official” recommendation position of a premium Motley Fool consulting service. We are motley! Challenging an investment thesis – even one of our own – helps us all to think critically about investing and make decisions that help us become smarter, happier, and richer.

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