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“In a world where sovereign data retention matters, people want to know that if they input data to a model, the model won’t train on their data,” David McQuarrie, HP’s chief commercial officer, told Fortune in October. Using an AI locally provides that reassurance.

HP, like many of its devicemaking peers, is exploring the use of AI PCs, or devices that can use AI locally as opposed to in the cloud. “Longer term, it will be impossible not to buy an AI PC, simply because there’s so much power in them,” he said. 

More broadly, smaller companies might be served just as well by a smaller model running locally than a larger model running in the cloud. “A company, a small business, or an individual has significant amounts of data that need not be put in the cloud,” he said. 

Asian governments have often had stricter rules on data sovereignty. China, in particular, has significantly tightened its regulations on where Chinese user data can be stored. South Korea is another example of an Asian country that treats some locally sourced data as too sensitive to be housed overseas. 

Governments the world over, and particularly in Asia, are also investing in local sovereign AI capabilities, trying to avoid relying entirely on systems and platforms housed wholly overseas. South Korea, for example, is partnering with local tech companies like search giant Naver to build its own AI systems. Singapore is investing in projects like the Southeast Asian Languages in One Network (SEA-LION), which are better tailored to Southeast Asian countries. 

Asian AI adoption

Asia is HP’s smallest region, but also its fastest-growing. Revenue from Asia-Pacific and Japan grew by 7% over the company’s 2025 fiscal year, which ended in October, to hit $13.3 billion. That’s around a quarter of HP’s total revenue of $55.3 billion. (HP’s other two regions are the Americas; and Europe, the Middle East, and Africa.)

McQuarrie also suggested that there was an opportunity to be “disruptive” in Asia. While many business leaders have been eager to embrace AI, at least rhetorically, actual adoption is proving more difficult. A recent survey from McKinsey reports that two-thirds of companies are still in the experimentation phase of AI. 

But McQuarrie believed that AI adoption in Asia could be “just as quick, if not quicker,” than other regions. 

Asia seems to be more comfortable with the use of AI, at least when it comes to users. An October survey from Pew found that fewer people in countries like India, South Korea and Japan reported feeling “more concerned than excited” about AI compared to the U.S. 

When it comes to convincing more companies to adopt AI, let alone AI PCs, McQuarrie said the answer was to make AI functions as seamless as possible, so “that it doesn’t really matter whether you understand that you’re embracing AI or not.”

“What we’re doubling down on is the future of work,” McQuarrie said. “The future of work is a device that makes your experience better and your productivity greater.”

“The fact that we’re using AI in the background? They don’t need to know that.”

(Bloomberg) — The bond market’s reaction to the Federal Reserve’s interest-rate cuts has been highly unusual. By some measures, a disconnect like this, with Treasury yields climbing as the central bank lowers rates, hasn’t been seen since the 1990s.

What the divergence indicates is a matter of heated debate. Opinions are all over the place, from the bullish (a sign of confidence that recession will be averted) to the more neutral (a return to pre-2008 market norms) to the favorite culprit of the so-called bond vigilantes (investors are losing confidence the US will ever rein in the constantly swelling national debt).

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But one thing is clear: the bond market isn’t buying President Donald Trump’s idea that faster rate cuts will send bond yields sliding down and, in turn, slash the rates on mortgages, credit cards and other types of loans.

With Trump soon able to replace Chair Jerome Powell with his own nominee, on top of everything else is the risk of the Fed squandering its credibility by caving to political pressure to ease policy more aggressively — which could backfire by fanning already elevated inflation and pushing yields higher.

“Trump 2.0 is all about getting long-term yields down,” Steven Barrow, head of G10 strategy at Standard Bank in London. “Putting a political figure at the Fed will not get bond yields down.”

The Fed started pulling its benchmark rate down from a more than two-decade high in September 2024 and has since cut it by 1.5 percentage points to a range of 3.75% to 4%. Traders see another quarter point cut after the next meeting on Wednesday as virtually assured and are pricing in two more such moves next year, which would bring its rate to around 3%.

Yet, key Treasury yields — which serve as the main baseline for the borrowing costs paid by American consumers and corporations — haven’t come down at all. Ten-year yields have risen nearly half a percentage point to 4.1% since the Fed started easing policy and 30-year yields are up over 0.8 percentage point.

Normally, when the Fed moves short-term policy rates up and down, long-term bond yields tend to follow. Even in the only two easing cycles outside of recessions over the past four decades – in 1995 and 1998, when the Fed cut only 75 basis points each time — the 10-year yield dropped outright or rose less than they have during the current episode.

Jay Barry, head of global rates strategy at JPMorgan Chase & Co., sees two factors behind it. The scale of the Fed’s hikes during the post-pandemic inflation surge was so steep that markets started pricing-in the Fed’s about-face well before it started, with 10-year yields peaking in late 2023. That blunted the impact once it began.

Moreover, by slashing interest rates even when inflation remains elevated, he said, the Fed is lessening the risk of a recession, limiting the scope for yields to fall.

“The Fed is looking to sustain this expansion, not end it,” said Barry. “That’s why rates have not moved aggressively lower.”

Others see a less benign interpretation in the so-called term premium, a measure of the extra yield investors demand in return for holding long-term bonds.

That compensates them for potential risks down the line — like elevated inflation or an unsustainable federal debt load. And that premium has risen nearly a full percentage point since the rate-cut cycle began, according to the New York Fed estimates.

For Jim Bianco, president of Bianco Research, it’s a signal that bond traders are worried that the Fed is cutting rates even as inflation remains stubbornly above its 2% target and the economy keeps defying recession fears.

“The market is really concerned about the policy,” said Bianco. “The concern is that the Fed has gone too far.”

If the Fed continues to cut rates, the mortgage rates will go “vertical,” he added.

There’s also angst that Trump — after breaking sharply from his predecessor’s deference to the Fed’s independence — will succeed in pressuring policymakers to continue cutting rates. Kevin Hassett, the White House National Economic Council Director and a Trump loyalist, is the betting market’s favorite to succeed Powell when his term ends in May.

What Bloomberg Strategists say…

If rate cuts increase the likelihood of stronger growth, they won’t be met with lower yields. We’ll end up with higher ones. In many respects, this is because we’re going back to a normal interest rate regime, where 2% real returns and a 2% Fed inflation target produces a 4% floor for long-term yields. Add in stronger growth and the numbers go higher from there.

—Ed Harrison, Bloomberg Markets Live strategist. Read more here.

So far, though, the broader bond market has remained relatively stable, with 10-year yields hovering not far from 4% over the past few months. And breakeven rates — a main gauge of the bond market’s inflation expectations — have been stable as well, indicating that fears of a Fed-fueled inflation surge down the line may be overstated.

Robert Tipp, chief investment strategist fixed income at PGIM, said it looks more than anything like a return to the normal levels seen before the Global Financial Crisis, which ushered in a long era of unusually low interest rates that abruptly ended after the pandemic.

“We’re back at the normal level of rates world,” he said.

Standard Bank’s Barrow said the Fed’s lack of control over the longer-term yields reminds him of a similar — if opposite — bind the central bank faced in the mid-2000s that became known as the Greenspan conundrum.

At that time, Chair Alan Greenspan was puzzled why the long-term yields remained low even as he jacked up the short-term policy rate. Greenspan’s successor Ben Bernanke later attributed the conundrum to too much savings from overseas flooding into Treasuries.

Today, Barrow said, that dynamic is reversed as governments around major economies are borrowing too much. That saving glut, in other words, has turned into a bond-supply glut that’s keeping consistently upward pressure on yields.

“It’s possibly a structural move that bond yields are not going down,” Barrow said. “At the end of the day, central banks don’t determine the long term rate.”

What to Watch:

(Updates wording of first and second paragraphs.)

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All three dose groups (50 mg, 100 mg and 200 mg) showed impressive monotherapy efficacy, with VGPR+ (very good partial response or better) of ≥70% despite limited follow-up; evidence shows that these responses are expected to deepen over time

Across all dose groups, 95% (19 of 20 patients) of all evaluable VGPR+ patients achieved minimal residual disease negative status

Data featured in an ASH oral presentation; LINKER-MM4 is the first clinical trial to evaluate a BCMAxCD3 bispecific monotherapy in NDMM and is part of a broad clinical development program evaluating Lynozyfic-based regimens in earlier lines of treatment

Regeneron to host virtual ‘Regeneron Roundtable’ investor event to discuss its multiple myeloma development program on Wednesday, December 10 at 8:30 a.m. ET 

TARRYTOWN, N.Y., Dec. 07, 2025 (GLOBE NEWSWIRE) — Regeneron Pharmaceuticals, Inc. (NASDAQ: REGN) today announced encouraging data from the Phase 1/2 LINKER-MM4 trial evaluating Lynozyfic™ (linvoseltamab) in adults with newly diagnosed multiple myeloma (NDMM) who were transplant eligible or ineligible were shared in an oral presentation at the American Society of Hematology (ASH) Annual Meeting. These data build on results from a broad clinical development program evaluating Lynozyfic in early lines of treatment, including precursor conditions, as monotherapy and in combination with standard-of-care or novel agents.

“The treatment of newly diagnosed multiple myeloma often relies on complicated combinations of quadruplet or triplet regimens, each with its own toxicities, in order to achieve rapid and durable responses, which can be incredibly burdensome for these patients,” said Robert Orlowski, M.D., Ph.D., Deputy Chair, Professor of Medicine, and Director of Translational Myeloma Research in the Departments of Lymphoma/Myeloma and Experimental Therapeutics at The University of Texas MD Anderson Cancer Center and the lead investigator for the LINKER-MM4 trial. “As the first to evaluate a BCMAxCD3 bispecific monotherapy in this setting, LINKER-MM4 seeks to understand whether frontline intervention with a single agent can deliver strong efficacy, enabling the simplification and potentially greater tolerability of these regimens. Lynozyfic monotherapy is already achieving MRD negativity rates comparable to quadruplet regimens but earlier in the treatment course, and these compelling results are expected to deepen with longer follow up. These results underscore Lynozyfic’s potential as a foundational component of frontline treatment regimens for multiple myeloma – or even a monotherapy regimen – for both transplant-eligible and transplant-ineligible patients.”

LINKER-MM4 is an ongoing, open-label Phase 1/2 trial investigating Lynozyfic in adults with NDMM. During a Phase 1A (dose escalation) cohort, patients were treated with a step-up dosing regimen followed by 50 mg, 100 mg or 200 mg doses of Lynozyfic. The lowest (50 mg) and highest (200 mg) tolerated doses were selected for further evaluation in the Phase 1B (dose-expansion) cohort. Among the 45 treated patients in both Phase 1A and 1B, 28 were transplant eligible, and 17 were transplant ineligible.

Across all dose levels (n=45), there was a 1.2 months median time to onset of response (range: 1-4.5 months). All three dose groups (50 mg, 100 mg and 200 mg) showed impressive efficacy, with a VGPR+ (very good partial response or better) of ≥70% with limited follow-up. Evidence shows that these responses are expected to deepen over time. Across all dose groups, 95% (19 of 20 patients) of all minimum residual disease (MRD) evaluable VGPR+ patients achieved MRD negative status at 10^-5 sensitivity.

Across all dose levels, the most common treatment-emergent adverse events (TEAEs) were cytokine release syndrome (CRS; all Grade 1: 44%) and neutropenia (any Grade: 38%; Grade 3/4: 33%). Among other adverse events of special interest, one patient in the 50 mg cohort experienced Grade 1 immune effector cell-associated neurotoxicity syndrome (ICANS). Infections occurred in 84% of patients (Grade 1/2: 51%; Grade 3: 33%) with the majority occurring within the first three months of treatment and the rate of infections decreased over time. There were no ≥Grade 4 infections, Grade 5 TEAEs or dose-limiting toxicities. Ten patients elected to undergo an autologous stem cell transplant, all of whom had an acceptable CD34+ stem cell yield post-induction (range: 2.5-11.5 x 10⁶/kg).

A broad clinical development program investigating Lynozyfic in early stages of the disease is underway. This includes the Phase 2 portion of the LINKER-MM4 trial evaluating Lynozyfic at the recommended 200 mg dose, as well as LINKER-MM6 (EMN39), a trial evaluating a combination of daratumumab, lenalidomide and dexamethasone (DRd) followed by Lynozyfic monotherapy compared with continued DRd in transplant-ineligible NDMM.

The use of Lynozyfic described above is investigational, and its safety and efficacy has not been evaluated by any regulatory authority for this indication.

About the ‘Regeneron Roundtable’ Investor Event 
Regeneron will host a virtual investor event to discuss its multiple myeloma program on Wednesday, December 10 at 8:30 a.m. ET. This is the next webcast in a new investor event series called the ‘Regeneron Roundtable,’ intended to highlight programs from the company’s innovative investigational pipeline. 
  
Links to the webcast and to register via telephone may be accessed from the ‘Investors and Media’ page of Regeneron’s website at https://investor.regeneron.com/events-and-presentations. Upon registration, all telephone participants will receive a confirmation email detailing how to join the conference call, including the dial-in number along with a unique passcode and registrant ID that can be used to access the call. A replay of the conference call and webcast will be archived on the company’s website for at least 30 days. 

About Multiple Myeloma
As the second most common blood cancer, there are over 187,000 new cases of MM diagnosed globally every year, with more than 36,000 diagnosed and 12,000 deaths anticipated in the U.S. in 2025. The disease is characterized by the proliferation of cancerous plasma cells (MM cells) that crowd out healthy blood cells in the bone marrow, infiltrate other tissues and cause potentially life-threatening organ injury. Despite treatment advances, MM is not curable, and while current treatments are able to slow progression of the cancer, most patients will ultimately experience cancer progression and require additional therapies.

About Lynozyfic
Lynozyfic was invented using Regeneron’s VelocImmune^® technology and is a fully human BCMAxCD3 bispecific antibody designed to bridge B-cell maturation antigen (BCMA) on MM cells with CD3-expressing T cells to facilitate T-cell activation and cancer-cell killing. Lynozyfic is approved to treat certain adults with R/R MM: in the U.S. after four lines of therapy and in the European Union after at least three prior therapies.

In the U.S., the generic name for Lynozyfic in its approved indications is linvoseltamab-gcpt, with gcpt as the suffix designated in accordance with Nonproprietary Naming of Biological Products Guidance for Industry issued by the U.S. FDA. Outside of the U.S., the generic name of Lynozyfic in its approved indications is linvoseltamab.

Lynozyfic is being investigated in a broad clinical development program exploring its use as a monotherapy as well as in combination regimens across different lines of therapy in MM, including earlier lines of treatment, as well as plasma cell precursor disorders. These potential uses are investigational, and their safety and efficacy have not been evaluated by any regulatory authority.  

In addition to LINKER-MM4, ongoing trials include:

• LINKER-MM1: Phase 1/2 dose-escalation and dose-expansion trial evaluating the safety, tolerability, dose-limiting toxicities and anti-tumor activity of Lynozyfic monotherapy in R/R MM
• LINKER-MM2: Phase 1b, open-label trial evaluating Lynozyfic in combination with other cancer treatments in patients with R/R MM
• LINKER-MM3: Phase 3 confirmatory trial evaluating Lynozyfic monotherapy compared to the combination of elotuzumab, pomalidomide and dexamethasone in R/R MM
• LINKER-MM5: Phase 3 trial evaluating Lynozyfic monotherapy or in combination with carfilzomib compared to standard of care combination regimens in patients with R/R MM
• LINKER-MM6 (EMN39): Phase 3 trial, in collaboration with the European Myeloma Network, evaluating daratumumab, lenalidomide and dexamethasone induction followed by Lynozyfic monotherapy compared to continued daratumumab, lenalidomide, and dexamethasone in NDMM who are transplant-ineligible
• Phase 1 trial evaluating Lynozyfic in combination with a Regeneron CD38xCD28 costimulatory bispecific in R/R MM
• LINKER-SMM1: Phase 2 trial evaluating Lynozyfic monotherapy in high-risk smoldering MM
• LINKER-MGUS1: Phase 2 dose-ranging trial evaluating Lynozyfic monotherapy in high-risk monoclonal gammopathy of unknown significance and non-high-risk SMM
• LINKER-AL2: Phase 1/2 trial evaluating Lynozyfic monotherapy in R/R systemic light chain amyloidosis 

For more information on Regeneron’s clinical trials in blood cancer, visit the clinical trials website, or contact via clinicaltrials@regeneron.com or 844-734-6643.

IMPORTANT SAFETY INFORMATION FOR U.S. PATIENTS

What is the most important information I should know about LYNOZYFIC?
LYNOZYFIC may cause serious or life-threatening side effects, including Cytokine Release Syndrome (CRS) and infusion-related reactions (IRR), or neurologic problems.

Cytokine Release Syndrome (CRS) and infusion related reactions (IRR). CRS is common during treatment with LYNOZYFIC and can also be serious or life-threatening. Tell your healthcare provider or get medical help right away if you develop any signs or symptoms of CRS or IRR, including:

fever of 100.4ºF (38ºC) or higher
	dizziness or light-headedness

Neurologic problems. LYNOZYFIC can cause neurologic problems that can be serious or life-threatening. Tell your healthcare provider or get medical help right away if you develop any signs or symptoms of neurologic problems, including:

• headache
• agitation, trouble staying awake, confusion or disorientation, seeing or hearing things that are not real (hallucinations)
• trouble speaking, writing, thinking, remembering things, paying attention, or understanding things
• problems walking, muscle weakness, shaking (tremors), loss of balance, or muscle spasms
• numbness and tingling (feeling like “pins and needles”)
• burning, throbbing, or stabbing pain
• changes in your handwriting
• seizures

Due to the risk of CRS and neurologic problems, you will receive LYNOZYFIC on a “step-up dosing schedule” and should be hospitalized for 24 hours after the first and second “step-up” doses.

• During the “step-up dosing schedule”:
  • For your first dose, you will receive a smaller “step-up” dose of LYNOZYFIC on Day 1 of your treatment.
  • For your second dose, you will receive a larger “step-up” dose of LYNOZYFIC, which is usually given on Day 8 of your treatment.
  • For your third dose, you will receive the first treatment dose of LYNOZYFIC, which is usually given on Day 15 of your treatment.
  • Your healthcare provider may repeat one or both of the “step-up” doses depending on side effects or if your treatment is delayed.
  • Before the “step-up” doses and the first two treatment doses of LYNOZYFIC, you will receive medicines to help reduce your risk of CRS and IRR. Your healthcare provider will decide if you need to receive medicine to help reduce your risk of side effects with future doses.

LYNOZYFIC is available only through the LYNOZYFIC Risk Evaluation and Mitigation Strategy (REMS) due to the risk of side effects of CRS and neurologic problems. You will receive a Patient Wallet Card from your healthcare provider. Carry the LYNOZYFIC Patient Wallet Card with you at all times and show it to all of your healthcare providers. The LYNOZYFIC Patient Wallet Card lists signs and symptoms of CRS and neurologic problems. Get medical help right away if you develop any of the signs and symptoms listed on the LYNOZYFIC Patient Wallet Card. You may need to be treated in a hospital.

Your healthcare provider will monitor you for signs and symptoms of CRS and neurologic problems during treatment with LYNOZYFIC, as well as other side effects, and may treat you in a hospital if needed. Your healthcare provider may temporarily stop or completely stop your treatment with LYNOZYFIC if you develop CRS, neurologic problems, or any other severe side effects.

If you have any questions about LYNOZYFIC, ask your healthcare provider.

Before receiving LYNOZYFIC, tell your healthcare provider about all of your medical conditions, including if you:

• have an infection.
• are pregnant or plan to become pregnant. LYNOZYFIC may harm your unborn baby. Tell your healthcare provider right away if you become pregnant or think that you may be pregnant during treatment with LYNOZYFIC.
  Females who are able to become pregnant:
  • Your healthcare provider should do a pregnancy test before you start treatment with LYNOZYFIC.
  • You should use an effective form of birth control (contraception) during treatment with LYNOZYFIC and for 3 months after your last dose of LYNOZYFIC.
  • are breastfeeding or plan to breastfeed. It is not known whether LYNOZYFIC passes into your breast milk. Do not breastfeed during treatment with LYNOZYFIC and for 3 months after your last dose of LYNOZYFIC.

Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

How will I receive LYNOZYFIC?

• LYNOZYFIC will be given to you by your healthcare provider by infusion through a needle placed in a vein (intravenous infusion).
• After the “step-up dosing schedule”, the treatment dose of LYNOZYFIC is usually given 1 time each week for 11 doses, and then 1 time every other week for 5 doses. After these doses and based on how your disease responds, your healthcare provider will decide if you are able to receive LYNOZYFIC less often (every 4 weeks) or will continue to have every other week treatment.
• Your healthcare provider will decide how long you will receive treatment with LYNOZYFIC.
• If you miss any appointments, call your healthcare provider as soon as possible to reschedule your appointment. It is important for you to be monitored closely for side effects during treatment with LYNOZYFIC.

What should I avoid while receiving LYNOZYFIC?
Do not drive, or operate heavy or potentially dangerous machinery, or do other dangerous activities for 48 hours after completing each of your “step-up” doses or at any time during treatment with LYNOZYFIC if you develop new neurologic symptoms, until the symptoms go away.

What are the possible side effects of LYNOZYFIC?
LYNOZYFIC may cause serious side effects, including:

• Infections. LYNOZYFIC can cause bacterial, viral, or fungal infections that are serious, life-threatening, or that may lead to death. Upper respiratory tract infections and pneumonia are common during treatment with LYNOZYFIC.
  • Your healthcare provider will monitor you for signs and symptoms of infection before and during treatment with LYNOZYFIC.
  • Your healthcare provider may prescribe medicines for you to help prevent infections and treat you as needed if you develop an infection during treatment with LYNOZYFIC.
  • Tell your healthcare provider right away if you develop any signs or symptoms of infection during treatment with LYNOZYFIC, including:
    • fever of 100.4 °F (38 °C) or higher
    • chills
    • cough
    • shortness of breath
    • chest pain
    • sore throat
    • pain during urination
    • feeling weak or generally unwell
• Decreased white blood cell counts. Decreased white blood cell counts are common during treatment with LYNOZYFIC and can also be severe. Fever can happen with low white blood cell counts and may be a sign that you have an infection. Your healthcare provider will check your blood cell counts before you start treatment and during treatment with LYNOZYFIC, and will treat you as needed.
• Liver problems. LYNOZYFIC can cause increased liver enzymes and bilirubin in your blood. These increases can happen with or without you also having CRS. Your healthcare provider will do blood tests to check your liver before starting and during treatment with LYNOZYFIC. Tell your healthcare provider if you develop any of the following signs or symptoms of liver problems:
  • tiredness
  • loss of appetite
  • pain in your right upper stomach-area (abdomen)
  • dark urine yellowing of your skin or the white part of your eyes

The most common side effects of LYNOZYFIC include:

diarrhea tiredness or weakness

The most common severe abnormal blood test results with LYNOZYFIC include: low white blood cell counts and low red blood cell counts.

These are not all of the possible side effects of LYNOZYFIC.

Call your doctor for medical advice about side effects. You may report side effects to FDA at 1-800-FDA-1088.

Please see full Prescribing Information, including Boxed WARNING, and Medication Guide for LYNOZYFIC.

What is LYNOZYFIC?
LYNOZYFIC is a prescription medicine used to treat adults with multiple myeloma who:

• have already received at least 4 treatment regimens, including a proteasome inhibitor, an immunomodulatory agent and an anti-CD38 monoclonal antibody to treat their multiple myeloma, and
• their cancer has come back or did not respond to prior treatment.

It is not known if LYNOZYFIC is safe and effective in children.

About Regeneron in Hematology 
At Regeneron, we’re applying more than three decades of biology expertise with our proprietary VelociSuite^® technologies to develop medicines for patients with diverse blood cancers and rare blood disorders.

Our blood cancer research is focused on bispecific antibodies that are being investigated both as monotherapies and in various combinations and emerging therapeutic modalities. Together, they provide us with unique combinatorial flexibility to develop customized and potentially synergistic cancer treatments.

Our research and collaborations to develop potential treatments for rare blood disorders include explorations in antibody medicine, gene editing and gene-knockout technologies, and investigational RNA-approaches focused on depleting abnormal proteins or blocking disease-causing cellular signaling. 

About Regeneron‘s VelocImmune Technology  
Regeneron‘s VelocImmune technology utilizes a proprietary genetically engineered mouse platform endowed with a genetically humanized immune system to produce optimized fully human antibodies. When Regeneron’s co-Founder, President and Chief Scientific Officer George D. Yancopoulos was a graduate student with his mentor Frederick W. Alt in 1985, they were the first to envision making such a genetically humanized mouse, and Regeneron has spent decades inventing and developing VelocImmune and related VelociSuite technologies. Dr. Yancopoulos and his team have used VelocImmune technology to create a substantial proportion of all original, FDA-approved or authorized fully human monoclonal antibodies. This includes Dupixent^® (dupilumab), Libtayo^® (cemiplimab-rwlc), Praluent^® (alirocumab), Kevzara^® (sarilumab), Evkeeza^® (evinacumab-dgnb), Inmazeb^® (atoltivimab, maftivimab and odesivimab-ebgn) and Veopoz^® (pozelimab-bbfg). In addition, REGEN-COV^® (casirivimab and imdevimab) had been authorized by the FDA during the COVID-19 pandemic until 2024. 
  
About Regeneron  
Regeneron (NASDAQ: REGN) is a leading biotechnology company that invents, develops and commercializes life-transforming medicines for people with serious diseases. Founded and led by physician-scientists, our unique ability to repeatedly and consistently translate science into medicine has led to numerous approved treatments and product candidates in development, most of which were homegrown in our laboratories. Our medicines and pipeline are designed to help patients with eye diseases, allergic and inflammatory diseases, cancer, cardiovascular and metabolic diseases, neurological diseases, hematologic conditions, infectious diseases, and rare diseases.

Regeneron pushes the boundaries of scientific discovery and accelerates drug development using our proprietary technologies, such as VelociSuite, which produces optimized fully human antibodies and new classes of bispecific antibodies. We are shaping the next frontier of medicine with data-powered insights from the Regeneron Genetics Center^® and pioneering genetic medicine platforms, enabling us to identify innovative targets and complementary approaches to potentially treat or cure diseases.

For more information, please visit www.Regeneron.com or follow Regeneron on LinkedIn, Instagram, Facebook or X.

Forward-Looking Statements and Use of Digital Media 
This press release includes forward-looking statements that involve risks and uncertainties relating to future events and the future performance of Regeneron Pharmaceuticals, Inc. (“Regeneron” or the “Company”), and actual events or results may differ materially from these forward-looking statements. Words such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “seek,” “estimate,” variations of such words, and similar expressions are intended to identify such forward-looking statements, although not all forward-looking statements contain these identifying words. These statements concern, and these risks and uncertainties include, among others, the nature, timing, and possible success and therapeutic applications of products marketed or otherwise commercialized by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Products”) and product candidates being developed by Regeneron and/or its collaborators or licensees (collectively, “Regeneron’s Product Candidates”) and research and clinical programs now underway or planned, including without limitation Lynozyfic™ (linvoseltamab-gcpt); the likelihood, timing, and scope of possible regulatory approval and commercial launch of Regeneron’s Product Candidates and new indications for Regeneron’s Products, such as Lynozyfic as a monotherapy and/or in combination with standard-of-care agents across different lines of therapy in multiple myeloma (“MM”) and plasma cell precursor disorders, including the treatment of adults with newly diagnosed MM as discussed in this press release; uncertainty of the utilization, market acceptance, and commercial success of Regeneron’s Products (such as Lynozyfic) and Regeneron’s Product Candidates and the impact of studies (whether conducted by Regeneron or others and whether mandated or voluntary), including the studies discussed or referenced in this press release, on any of the foregoing or any potential regulatory approval of Regeneron’s Products and Regeneron’s Product Candidates; the ability of Regeneron’s collaborators, licensees, suppliers, or other third parties (as applicable) to perform manufacturing, filling, finishing, packaging, labeling, distribution, and other steps related to Regeneron’s Products and Regeneron’s Product Candidates; the ability of Regeneron to manage supply chains for multiple products and product candidates and risks associated with tariffs and other trade restrictions; safety issues resulting from the administration of Regeneron’s Products (such as Lynozyfic) and Regeneron’s Product Candidates in patients, including serious complications or side effects in connection with the use of Regeneron’s Products and Regeneron’s Product Candidates in clinical trials; determinations by regulatory and administrative governmental authorities which may delay or restrict Regeneron’s ability to continue to develop or commercialize Regeneron’s Products and Regeneron’s Product Candidates; ongoing regulatory obligations and oversight impacting Regeneron’s Products, research and clinical programs, and business, including those relating to patient privacy; the availability and extent of reimbursement or copay assistance for Regeneron’s Products from third-party payors and other third parties, including private payor healthcare and insurance programs, health maintenance organizations, pharmacy benefit management companies, and government programs such as Medicare and Medicaid; coverage and reimbursement determinations by such payors and other third parties and new policies and procedures adopted by such payors and other third parties; changes to drug pricing regulations and requirements and Regeneron’s pricing strategy; other changes in laws, regulations, and policies affecting the healthcare industry; competing drugs and product candidates that may be superior to, or more cost effective than, Regeneron’s Products and Regeneron’s Product Candidates (including biosimilar versions of Regeneron’s Products); the extent to which the results from the research and development programs conducted by Regeneron and/or its collaborators or licensees may be replicated in other studies and/or lead to advancement of product candidates to clinical trials, therapeutic applications, or regulatory approval; unanticipated expenses; the costs of developing, producing, and selling products; the ability of Regeneron to meet any of its financial projections or guidance and changes to the assumptions underlying those projections or guidance; the potential for any license, collaboration, or supply agreement, including Regeneron’s agreements with Sanofi and Bayer (or their respective affiliated companies, as applicable), to be cancelled or terminated; the impact of public health outbreaks, epidemics, or pandemics on Regeneron‘s business; and risks associated with litigation and other proceedings and government investigations relating to the Company and/or its operations (including the pending civil proceedings initiated or joined by the U.S. Department of Justice and the U.S. Attorney’s Office for the District of Massachusetts), risks associated with intellectual property of other parties and pending or future litigation relating thereto (including without limitation the patent litigation and other related proceedings relating to EYLEA^® (aflibercept) Injection), the ultimate outcome of any such proceedings and investigations, and the impact any of the foregoing may have on Regeneron’s business, prospects, operating results, and financial condition. A more complete description of these and other material risks can be found in Regeneron’s filings with the U.S. Securities and Exchange Commission, including its Form 10-K for the year ended December 31, 2024 and its Form 10-Q for the quarterly period ended September 30, 2025. Any forward-looking statements are made based on management’s current beliefs and judgment, and the reader is cautioned not to rely on any forward-looking statements made by Regeneron. Regeneron does not undertake any obligation to update (publicly or otherwise) any forward-looking statement, including without limitation any financial projection or guidance, whether as a result of new information, future events, or otherwise.

Regeneron uses its media and investor relations website and social media outlets to publish important information about the Company, including information that may be deemed material to investors. Financial and other information about Regeneron is routinely posted and is accessible on Regeneron‘s media and investor relations website (https://investor.regeneron.com) and its LinkedIn page (https://www.linkedin.com/company/regeneron-pharmaceuticals).

Source: Regeneron Pharmaceuticals, Inc.

Treatment with INCA033989 as monotherapy or in combination with ruxolitinib (Jakafi) was well tolerated and led to spleen and anemia responses in patients with CALR exon 9–mutated myelofibrosis who were resistant or intolerant to prior JAK inhibitor therapy, or were ineligible for JAK inhibitor therapy, according to data from the phase 1 INCA033989-101 (NCT05936359) and INCA033989-102 (NCT06034002) trials.¹

Findings presented at the 2025 ASH Annual Meeting and Exposition demonstrated that no dose-limiting toxicities (DLTs) were reported in patients treated with INCA033989 monotherapy (n = 52). Treatment-emergent adverse effects (TEAEs) of any grade occurred in 96.2% of patients, including 57.7% who had any-grade treatment-related AEs (TRAEs), 30.8% who had grade 3 or higher TEAEs, and 9.6% who had serious TEAEs. TEAEs led to treatment discontinuation and dose reductions in 3.8% of patients each, infusion interruption in 5.8% of patients, and dose delays in 23.1% of patients.

In patients treated with INCA033989 plus ruxolitinib (n = 20), all had any-grade TEAEs, including 65.0% with any-grade TRAEs, 55.0% with grade 3 or higher TEAEs, and 25.0% with serious TEAEs. No DLTs were reported with the combination. TEAEs led to treatment discontinuation in 10.0% of patients, dose reductions in 5.0% of patients, infusion interruption in 5.0% of patients, and dose delays in 40.0% of patients.

Regarding efficacy, INCA033989 monotherapy (n = 36) yielded a spleen volume reduction of at least 25% (SVR25) at week 24 in 41.7% of patients and an SVR of at least 35% (SVR35) at week 24 in 33.3% of patients. Best SVR was 47.9% for SVR25 and 31.3% for SVR35. In patients without any prior JAK inhibitor exposure (n = 7), the 24-week SVR25 and SVR35 rates were 71.4% and 57.1%, respectively. In patients who were relapsed/refractory or intolerant to a JAK inhibitor (n = 29), these respective rates were 34.5% and 27.6%.

For patients treated with the combination, evaluable patients at week 24 (n = 12) experienced SVR25 and SVR35 rates of 50% and 25%, respectively. A best SVR of SVR25 occurred in 11 total patients; SVR35 was reported in 8 patients.

“INCA033989 is really well tolerated both as monotherapy and in combination with ruxolitinib,” lead study author John O. Mascarenhas, MD, said in a presentation of the data. “We saw rapid spleen and anemia responses in both cohorts.”

Mascarenhas is a professor of medicine at the Icahn School of Medicine at Mount Sinai in New York, New York, where he also serves as director of the Center of Excellence for Blood Cancers and Myeloid Disorders. He is also a member of The Tisch Cancer Institute, where he is director of the Adult Leukemia Program and leader of clinical investigation in the Myeloproliferative Disorders Program.

What was the rationale of the investigation into INCA033989 in myelofibrosis?

INCA033989 in CALR Exon 9–Mutated Myelofibrosis: Key Takeaways

• INCA033989 alone and in combination with ruxolitinib was well tolerated in patients with CALR exon 9–mutated myelofibrosis who were resistant to, intolerant to, or ineligible for a JAK inhibitor.

• No DLTs were reported with the agent as monotherapy or in combination with ruxolitinib.

• Both regimens produced spleen volume reductions and anemia responses.

Mascarenhas reported that approximately 25% to 35% of patients with myelofibrosis harbor CALR exon 9 mutations, and higher CALR variant allele frequency (VAF) has been associated with more advanced disease featuring anemia and elevated peripheral blasts.

INCA033989—a novel, fully human, high-affinity, Fc-silenced, immunoglobulin G1 monoclonal antibody—is a therapy designed to target CALR exon 9 mutations through selective targeting in complex with the thrombopoietin receptor.

INCA033989-101 is being conducted outside the United States (US), while INCA033989-102 is including US patients specifically. Both studies are enrolling patients at least 18 years of age with primary or post–essential thrombocythemia myelofibrosis harboring CALR exon 9 mutations.^1-3 

Patients need to have a spleen volume of at least 450 mL or palpable splenomegaly of at least 5 cm.¹ To be included in the monotherapy arm, patients need to be intolerant to a JAK inhibitor, resistant to a JAK inhibitor for at least 12 weeks, or ineligible for a JAK inhibitor. Those in the combination arm needed to have a suboptimal response to ruxolitinib given for at least 12 weeks of prior treatment.

During dose escalation, patients in both arms received INCA033989 at 24 mg to 2500 mg intravenously once every 2 weeks. The dose-expansion portion of the study includes monotherapy and combination arms, along with a randomized portion where JAK inhibitor–naive patients are being randomly assigned to INCA033989 with or without ruxolitinib.

The primary end points of dose escalation are evaluating the incidence of DLTs and TEAEs. Secondary end points comprised SVR25 and SVR35 at weeks 12 and 24; anemia response; symptom improvement; and change in CALR exon 9 VAF.

In the monotherapy and combination arms, the median age was 59.5 years (range, 34-76) and 61.0 years (range, 38-82), respectively. The rates of female patients were 32.7% and 20.0%, respectively, and patients had respective median times from initial diagnosis of 7.4 years (range, 0-25.3) and 3.1 years (range, 0.4-16.4). CALR exon 9 mutation type included type 1 (monotherapy arm, 57.7%; combination arm, 60.0%), type 2 (21.2%; 35.0%), and other (21.2%; 5.0%). The median CALR VAF was 36% (range, 24%-53%) in the monotherapy arm and 39% (range, 30%-85%) in the combination arm.

What other efficacy data were reported for INCA033989?

In the monotherapy arm, 93.3% of evaluable patients (n = 45) experienced symptom improvements, and 60.0% achieved at least a 50% reduction in total symptom score (TSS50).

For those evaluable for anemia response (n = 25), best responses comprised major response (40.0%), minor response (16.0%), stable anemia (32.0%), progressive anemia (8.0%), and missing (4.0%). In patients with transfusion-dependent anemia, best responses were major response (20.0%), minor response (40.0%), stable anemia (20.0%), and progressive anemia (20.0%). Those without transfusion-dependent anemia (n = 20) had best anemia responses of major response (45.0%), minor response (10.0%), stable anemia (35.0%), progressive anemia (5.0%), and missing (5.0%).

Notably, a reduction of CALR exon 9 mutation VAF occurred in 89.4% of evaluable patients in the monotherapy arm (n = 47), and 10.6% of patients achieved a best reduction of at least 25%.

In the combination arm, 81.3% of patients (n = 16) experienced symptom improvements, and 33.3% (n = 9) achieved TSS50 at week 24. In evaluable patients (n = 14), 86% had stable anemia during the study, and 1 patient had a major anemia response.

What were the most common TEAEs with each INCA033989 regimen?

In the INCA033989 monotherapy group, the most common any-grade TEAEs reported in at least 15% of patients included anemia (30.8%), fatigue (26.9%), thrombocytopenia (25.0%), arthralgia (21.2%), increased aspartate aminotransferase (AST; 21.2%), cough (21.2%), diarrhea (21.2%), headache (21.2%), leukopenia (21.2%), nausea (21.2%), pruritus (21.2%), hyperglycemia (19.2%), neutropenia (19.2%), nasal congestion (15.4%), and extremity pain (15.4%).

In the combination arm, the most frequent TEAEs of any grade that occurred in at least 15% of patients consisted of anemia (45.0%), thrombocytopenia (35.0%), increased alanine aminotransferase levels (20.0%), diarrhea (20.0%), fatigue (20.0%), increased AST (15.0%), and cough (15.0%).

References

1. Mascarenhas J, Al-Ali HK, Gupta V, et al. Safety and efficacy of the mutant calreticulin-specific monoclonal antibody INCA033989 as monotherapy or in combination with ruxolitinib in patients (pts) with myelofibrosis (MF): preliminary results from dose escalation of two global phase 1 studies. Blood. 2025;146(suppl 1):484. doi:10.1182/blood-2025-484
2. A study to evaluate INCA033989 administered as a monotherapy or in combination with ruxolitinib in participants with myeloproliferative neoplasms. ClinicalTrials.gov. Updated November 18, 2025. Accessed December 7, 2025. https://www.clinicaltrials.gov/study/NCT05936359
3. A study to evaluate INCA033989 administered as a monotherapy or in combination with ruxolitinib in participants with myeloproliferative neoplasms. ClinicalTrials.gov. Updated October 30, 2025. Accessed December 7, 2025. https://clinicaltrials.gov/study/NCT06034002

The Philippines central bank makes its rate decision Thursday, where it could deliver a fifth consecutive cut as inflation stays benign and growth soft.

The Southeast Asian country is facing mounting headwinds from a domestic corruption scandal involving the alleged misuse of public funds for state flood-management initiatives.

Economic growth slowed to a more than four-year low in the third quarter, while inflation undershot the Bangko Sentral ng Pilipinas’s 2025 inflation target of 2% to 4% for a ninth straight month in November.

“Recent GDP numbers raise concerns that soft government spending could become a longer-term drag, weighing not only on fiscal outlays but also on business and private-sector sentiment,” ING’s Deepali Bhargava and Lynn Song wrote in a note.

The BSP looks poised to lower its policy rate, with an expected additional cut in the first quarter of next year, as governance-related issues weigh on growth amid benign inflation, ANZ Research economists said in a report.

At its meeting in October, the BSP cut its policy rate unexpectedly, as it flagged a weaker growth outlook.

  India 

  India's inflation data on Friday will likely show that price pressures remain at multi-decade lows, reinforcing the central bank's decision to cut interest rates at its final meeting of the year. 

  The main drag will likely continue to come from food prices, the ANZ Research team said. While headline inflation could tick up from the nadir reached in October, household goods and services prices likely continued to decline due to GST rate cuts, they wrote. 

  Inflation is likely to average just below 2% for the current fiscal year, HSBC economists said. Only a third of the impact of GST tax cuts has fed through to inflation, signaling room for further cooling ahead, they said. 

  Core inflation is also easing but is more long-lasting than before, which could influence monetary policy, they added. 

  Taiwan 

  Taiwan is set to release its trade data for November on Tuesday, which will probably show that exports continued their run of torrid growth. 

  The island's economy has been supported by resilient export growth through the year, as frontloading to get ahead of tariffs combined with the AI boom to keep its shipments in high demand. 

  "AI-related demand for GPUs, graphics cards, and servers-alongside year-end seasonal demand for new consumer electronics-is likely to continue supporting export momentum," DBS economists said. 

  Taiwan's U.S.-bound shipments should also get a lift from the delay in semiconductor tariffs. 

  That said, non-tech traditional industries will likely continue to face headwinds, the DBS team expects. "The 20% U.S. reciprocal tariff on Taiwan-higher than that applied to Japan and South Korea-keeps Taiwanese manufacturers in these sectors at a competitive disadvantage." 

  Any references to days are in local times. 

  Write to Jessica Fleetham at jessica.fleetham@wsj.com and  Fabiana Negrin Ochoa at fabiana.negrinochoa@wsj.com 

  (END) Dow Jones Newswires

  December 07, 2025 16:14 ET (21:14 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.

As Americans rethink what they want out of their careers, work-life balance is taking center stage. For the first time since Randstad began tracking employment trends 22 years ago, balance has surpassed pay as the top motivator for workers considering a job.

But while many employees see this shift as long overdue, some high-profile CEOs say the idea of achieving big ambitions without long hours simply doesn’t add up.

According to Randstad’s Workmonitor 2025 report, 83% of workers now rank work-life balance as their highest priority — slightly edging out both job security and pay. This shift is part of a broader change in expectations: workers want jobs that fit around their lives, not the other way around.

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Randstad says that employees are increasingly looking for workplaces that reflect their values and support their ambitions. Nearly half say they wouldn’t accept a job with a company whose social or environmental values don’t align with their own — up sharply from 38% last year. And more workers are willing to walk away altogether, with 31% having quit due to limited career advancement.

Younger generations have been especially vocal about challenging the traditional grind. For Gen Z, 74% list work-life balance as a top consideration, compared with 68% who prioritize pay, according to the report. Many even rank mental health support above compensation.

This group also places a premium on flexibility. A LinkedIn report found that around 38% of Gen Z and millennial workers would take a pay cut for more remote or hybrid options.

Still, this mindset isn’t limited to younger employees. Randstad reports baby boomers also rate work-life balance (85%) and pay (87%) as top priorities, showing that interest in sustainable work schedules spans generations.

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Despite broad agreement among workers, executives remain divided on whether meaningful balance can coexist with high achievement.

Netflix (NASDAQ:NFLX)  co-founder Marc Randolph is one leader who advocates for clear boundaries. Throughout his career, he kept Tuesday nights strictly free from work — no meetings, no last-minute calls. “Those Tuesday nights kept me sane. And they put the rest of my work in perspective,” he wrote in a LinkedIn post.

JPMorgan Chase (NYSES: JPM) CEO Jamie Dimon has shared similar advice, telling students at the Georgetown Psaros Center for Financial Markets and Policy last year that protecting mental, physical, and spiritual health is essential to long-term success.

But not all executives see balance and ambition as compatible. Some of the tech world’s most influential leaders — including Google co-founder Sergey Brin and Scale AI co-founder  Lucy Guo — have pushed back on the idea of clocking in at 9 a.m. and out at 5 p.m, according to Fortune.

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Andrew Feldman, CEO of AI chipmaker Cerebras, was even more direct. “This notion that somehow you can achieve greatness, you can build something extraordinary by working 38 hours a week and having work-life balance — that is mind-boggling to me,” he said on a recent episode of the “20VC” podcast. “It’s not true in any part of life.”

As workers weigh not only income but values, flexibility, and well-being, employers face a growing challenge: adapting to expectations that are broader and more personal than ever.

The data suggests this shift won’t fade anytime soon. With talent shortages in many industries and more employees willing to leave roles that don’t meet their needs, organizations may find that supporting balance isn’t just a perk; it’s a competitive advantage.

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One dollar is all it takes to transform someone from a perpetual “someday” investor into an actual market participant, according to a former Federal Reserve Bank of Boston executive who spent years inside America’s most powerful financial institutions before joining the retail investing wave.

Kristin Kanders, head of marketing and engagement at the Plynk app, a retail brokerage app designed to simplify investing, believes the barrier keeping millions of Americans out of the stock market has nothing to do with money. The real obstacle is psychological.

After serving as director of strategy and innovation at the Boston Fed and head of transformation engagement and communications at State Street, Kanders now leads a team focused on turning big ideas into real-world solutions for investors of all experience levels.

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The problem with modern investing apps has nothing to do with features or functionality, Kanders said in an exclusive interview with Benzinga. The problem is much deeper. “Access alone doesn’t equal empowerment,” Kanders said. “I believe the real shift in consumer psychology needs to be from transactional thinking to ownership thinking.”

Kanders pointed out that most retail investors approach the market with the wrong mentality entirely. “Right now, many retail investors see investing as a quick trade or a way to ‘play the market,’” she said. “It’s no wonder then that the majority of people in the U.S. feel anxious about their personal finances.”

Kanders said genuine confidence grows when people move away from chasing quick trades and instead form a long-range relationship with their financial goals. She described empowerment as the point where investors feel steady in their decisions because they understand the purpose behind them, not just the mechanics.

The transition requires more than just access to trading platforms. “The change isn’t just about giving tools; it’s about building confidence so investors believe they can shape outcomes, not just chase them,” she said. “In short, having a growth mindset matters. And that’s why we provide lots of tools to learn as you go.”

Starting with one dollar might sound like a gimmick. Kanders insists the psychological impact cannot be overstated. “For many people, it’s not the $100 or $1,000 that holds them back from investing,” she said. “The psychological weight of ‘I’m not ready,’ ‘I don’t know enough,’ or ‘I’m not the investing type’ is often heavier than any dollar amount.”

The magic happens when someone makes that first transaction, Kanders said. “Removing the financial barrier unlocks more than just access, it unlocks a starting point,” she told Benzinga. “When someone invests $1, they become an ‘investor.’ That shift, even if tiny, rewires self-perception. It creates momentum. It builds confidence. It turns ‘someday’ into ‘today.’”

Plynk launched a feature called Steady Start built around this concept. Users pick a security, start with $1, and each week their investment increases by $1 for 52 weeks, Kanders said. “We’re turning ‘I’ll start investing later’ into ‘I’m already building something.'”

The Plynk app’s core promise centers on “invest with confidence,” not “get rich” or “beat the market.”

“Our messaging stays authentic because we frame investing as a marathon, not a sprint,” Kanders told Benzinga. “Market downturns are inevitable, so we focus on education and transparency: helping users understand why volatility happens and how long-term strategies historically outperform short-term reactions.”

“Confidence isn’t about avoiding losses, it’s about knowing what to do when they happen,” Kanders added. “Instead of promising to beat the market, we give them tools and insights to make informed decisions, even in tough times.”

Kanders pointed to simulated trading as one of the platform’s core teaching tools. She said the feature offers a real-market environment where users can practice strategies, build confidence, and learn from outcomes without putting actual money at risk.

Kanders acknowledged that every fintech platform sees users take losses and said Plynk focuses on helping investors stay mindful of their risk limits. She added that markets move for many reasons and emphasized the value of regularly checking personal risk appetite. “It is important to continually evaluate risk appetite in investments to make sure you’re not ‘biting off more than you can chew,'” Kanders said.

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Kanders addressed whether Plynk intentionally designs for human psychology, nudging people toward better decisions or respecting their autonomy even when users make suboptimal choices.

“The Plynk app provides a self-directed investing experience—so we do not nudge people one way or another,” she said. “Instead, our education and tools are designed to help people make the best decisions for themselves. We aim to meet people where they are and empower them to grow.”

She compared the app to a financial co-pilot. “Think of the Plynk app as a financial co-pilot: we don’t take the wheel, but we give users a better rearview mirror and tools that help users spot their blind spots, map their path, and adjust course,” Kanders told Benzinga.

Kanders said the app introduced new features in 2025 that follow this philosophy, including a “what-if” tool that lets users explore virtual portfolios. These scenario-based views help people see how different choices might have played out, reinforcing the long-term benefits of staying invested rather than waiting on the sidelines.

The goal is to help users visualize consequences. “What if they started investing a year ago? What if they skipped the impulse trade?” Kanders said.

When asked what about the fintech industry gets sanitized in marketing, Kanders pulled no punches. “Well, a lot of marketing that I see doesn’t look that sanitized. It’s sensationalized!” she told Benzinga. “But we definitely don’t do that at Plynk. We stick to the ‘underpromise, overdeliver’ philosophy.”

The often-overlooked factor most fintech companies avoid discussing centers on market complexity. “While we aim to make the process of investing simple, the reality is that markets are messy,” Kanders said. “It takes tenacity and confidence to get through downtimes, and we know it’s not effortless.”

The phrase “democratizing finance” has become nearly universal in fintech marketing. Kanders outlined what the phrase means to Plynk and how the company ensures the concept translates into action rather than empty language.

“The core meaning behind ‘democratizing finance’ is simple: accessibility,” Kanders told Benzinga. “It’s about knocking down the barriers that made investing hard to break into, whether it’s because of minimum asset thresholds, the jargon surrounding the industry, or the ability to engage on a mobile device.”

Plynk brings this philosophy to life through community-focused outreach, Kanders said. The team connects with people in the spaces they already spend time in, including finance creators, young women, service members, and veterans at events and conferences. She added that feedback from these groups informs new app features and directs product decisions.

“Ultimately, democratizing finance means making it possible for more people to participate in the market because we’ve given them the knowledge and confidence to do so,” Kanders said.

The military community represents a strategic focus for Plynk. Kanders said the unique financial challenges veterans and service members face that traditional investing apps completely miss.

“We believe in the purpose of what we are doing and feel it is an honorable mission,” she told Benzinga. “We were moved by the challenges military veterans and service members face and felt there was a great fit with the Plynk app being able to be an ally for the community.”

Kanders said veterans shared strong concerns about financial tools that feel inaccessible or out of step with their needs. These conversations motivated the team to create Plynk Serve: Military, a tailored offering designed in response to complaints about complicated language and hard-to-navigate app interfaces.

The sentiment Kanders hears most frequently from this community reveals a deeper problem. “We hear this often: ‘Investing isn’t for me,’” she said. “Not because of ability, but because the investing world can feel unwelcoming, full of jargon and assumptions that you already know the playbook. It’s easy to feel like an outsider. The Plynk app is for anyone who has ever felt overlooked or intimidated by the world of investing, and a large part of this community fits that demographic.”

Kanders said the move from military service to civilian life often brings unfamiliar financial decisions and less structure than veterans are used to. This change can feel overwhelming, with most apps offering either rigid paths or too many choices with no clear guidance. She added that Plynk built Plynk Serve: Military to offer a resource that supports this transition in a more practical way.

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Technology is changing not just access to investing, but investor behavior itself, and Kanders identified several major trends in how new investors make decisions, manage risk, and seek advice.

“Social media is now a primary source of financial advice for younger investors: 76% of Gen Z turn to TikTok, Instagram, and Reddit for investing tips, compared to just 18% of older investors,” she told Benzinga.

“This creates a fast-paced, community-driven dynamic where [fear of missing out] and viral trends influence risk-taking,” Kanders added. “Trading frequency is higher among social-media-driven investors, and speculative assets like crypto and meme stocks dominate.”

Furthermore, artificial intelligence represents the biggest turning point coming to personal finance, Kanders said. “It makes sense to me that AI is all over the headlines. It has the potential to be a game-changer for helping people manage their finances, either directly or indirectly. We’re being brought into a new era of personalization because of AI,” she said.

When asked what single skill retail investors should develop before ever investing, Kanders gave an answer that had nothing to do with technical analysis or financial statements.

“Curiosity,” she said. “Approaching the market with curiosity, ambition, and caution is what leads to a successful investing journey. When you’re genuinely curious, you’re more receptive to learning, actively seeking to grow your financial literacy and investing knowledge. This practice of curiosity is often what leads to a stronger sense of confidence when it comes to investing.”

Looking five years into the future, Kanders predicted completely normal investing behaviors that would shock someone from 2020. “In five years’ time I think we’ll have new ways to ‘see’ and explore our personal portfolios that feel more natural, intuitive and immersive than today’s pie chart world,” she said. “Picture more interactive experiences and less finance spreadsheet.”

Kanders added that the company had already begun experimenting with what the next chapter of investing could look like. This led to the launch of Plynk Spatial, an initiative aimed at exploring more immersive ways to engage with markets.

For Plynk, success gets measured in user growth. Kanders detailed how she personally defines success and when she’ll know Plynk has accomplished its mission. “True success lies in our ability to make financial confidence accessible to everyone,” she told Benzinga. “If we hit a hundred million users, but none of them feel confident or informed about their money choices, I’d consider that a failure.”

All investments involve risk, including the possible risk of loss.

Simulated trading is for informational purposes only. Past performance does not guarantee future results; actual performance returns will vary.

The projections or other information generated by the Virtual Portfolio regarding the virtual investment outcomes are hypothetical in nature, do not reflect actual investment results and are not guarantees of future results.

DBS does not provide individualized investment advice or recommendations. All general educational resources that DBS provides are available to help users make educated investment decisions on the mobile app. None of the general education tools or information we provide should be viewed as individualized recommendations to buy, sell, or hold any investment

The Plynk app is supported by a team of Digital Brokerage Services LLC associates. Brokerage services are offered through the Plynk application only by Digital Brokerage Services LLC.. Plynk marks are the property of FMR LLC; third-party marks are the property of their respective owners. 1236494.1.0

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