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Some European Space Agency News: A Super-Speedy, And Gargantuan Blast — From The Black Hole At The Center Of Spiral Galaxy NGC 3783, 130 Million Light Years Off…

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Last night, I re-watched an episode of the PBS series called Nova, on black hole detection (originally aired in 2018). . . and as luck would have it, the European Space Agency has a great new bit of interstellar science — about the so-called super-massives [weighing in at over 70 million times the mass of our Sun!], and their ability to generate vast jets, travelling at one-fifth the speed of light.

This discovery was made by XRISM’s Resolve instrument — and indicates that such blasts can form in under a few hours, and dissipate, just as rapidly.

[Of course, since the vast x-ray emissions from it are just reaching us today, this cataclysmic event occurred about 130 million years ago — not more than eye-blink though, on the cosmic time-scales.] Here’s the latest from ESA — on all that:

…Leading X-ray space telescopes XMM-Newton and XRISM have spotted an extraordinary blast from a supermassive black hole. In a matter of hours, the gravitational monster whipped up powerful winds, flinging material out into space at eye-watering speeds of 60,000 km per second.

The gigantic black hole lurks within NGC 3783, a beautiful spiral galaxy imaged recently by the NASA/ESA Hubble Space Telescope. Astronomers spotted a bright X-ray flare erupt from the black hole before swiftly fading away. As it faded, fast winds emerged, raging at one-fifth of the speed of light….

“We’ve not watched a black hole create winds this speedily before,” says lead researcher Liyi Gu at Space Research Organisation Netherlands (SRON). “For the first time, we’ve seen how a rapid burst of X-ray light from a black hole immediately triggers ultra-fast winds, with these winds forming in just a single day….”

Now you know… what an infinitesimal, fragile, and ethereal beauty our sparkling blue life-raft is… in all of this, right? Amazing!

Do take good care of one another, as it may turn out that this and now, is all we will ever be, or have. I seriously doubt we are unique in all the Universe, but a single blast like this would wipe out potentially hundreds of millions of civilizations (were they out there — anywhere near NGC 3783, some 130 million years ago). We are so very… lucky, indeed.

नमस्ते

This Is Not Just A Win For Gov. Newsom — This Is A Win For The Notion Of… Limited Federal Powers, As Framed By The Founders Of Our Nation.

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This clearly-correct precedent will (of course) be appealed by Tangerine 2.0 — but the troops are once again solely under the control of the California CoC, one Gavin Newsom.

There will be no staying this injunction. And this precedent will effectively end the Illinois litigation, while setting the Supremes on a course to have to address a likely split in the Circuits, between 7 and 9, among others on the one hand, and the Fifth on the other. Here’s USDC Senior Judge Breyer’s excellent opinion, just handed down:

…The Founders designed our government to be a system of checks and balances….

Defendants, however, make clear that the only check they want is a blank one. Six months after they first federalized the California National Guard, Defendants still retain control of approximately 300 Guardsmen, despite no evidence that execution of federal law is impeded in any way — let alone significantly. What’s more, Defendants have sent California Guardsmen into other states, effectively creating a national police force made up of state troops. In response to Plaintiffs’ motion to enjoin this conduct, Defendants take the position that, after a valid initial federalization, all subsequent re-federalizations are completely, and forever, unreviewable by the courts. Defendants’ position is contrary to law.

Accordingly, the Court ENJOINS Defendants’ federalization of California National Guard troops….

Section 12406 “authorizes federalization only when one of its factual predicates is presently satisfied.” Reply at 1 (emphasis in original) (citing Portland FOFCOL at 37). Accordingly, each affirmative order authorizing federalization — whether a subsequent, distinct federalization or what Defendants call an extension — must comply with Section 12406’s exigency requirements at the time it is effectuated…. [and that — the Noemites / Trumpians / Millerites and Feds have not done.]

Excellent news. Onward resolutely — the Illinois version remains pending at the Supremes, for a decision, at any time. Grin.

नमस्ते

[UPDATE: Now Down ~28% @ Lunchtime!] QCLC Stock Down Almost 20%, Since Shkreli Was Named As A “Strategic” Advisor… Grin.

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Here on Wednesday morning — the stock has fallen another nearly 5%, after losing ~13% in yesterday’s session.

The day before the announcement, it had traded as high as $7.93 on the NASDAQ, and it now sits at $6.28, as I write this at 9:45 am Eastern. I guess savvy capitalists realize Martin Shkreli’s “advice” may (once again) include felonious behavior — and that rarely works out well, for the company involved. Here’s the financial rag’s story, from yesterday:

…Shares of Q/C Technologies, Inc. (QCLS) crashed over 13% in volatile trading on Tuesday, after the company appointed Martin Shkreli as a strategic advisor.

Earlier in the session, QCLS had climbed more than 11%. However, trading was twice halted within the first 15 minutes of the market opening….

Yep — do be careful out there. It all comes with a sincere H/T, to my SEC visitors as of 8:30 am Eastern. Do take a look folks! Onward, grinning.

नमस्ते

Once Again, Noem And Stephen Miller Are Appealing An Order To Treat CHILDREN Humanely. They Cannot Be Held In Adult Jails For Over 72 Hours, Ever — Especially When ICE / BP Sees So Few Of Them.

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Let that sink in. Just as in Tangerine 1.0, when Trump contended in the Ninth Cir. that children did not need toothbrushes, soap or water(!?) — now he is appealing an order to move kids to more “school like” facilities within 72 hours at the outside, and in any event, as soon as possibile — out of windowless CPB adult jail cells.

Who are these… truly horrible… human beings? What is wrong with them?! These are kids — many not even 11 years old yet. Jesus. See this latest pleading, with attached sworn declarations, in the now 40 years old Flores class action litigation, in the able USDC Judge Dolly Gee’s courtroom in LA:

…[The Noemite/Miller/Tangerine] Defendants attempt to minimize the import of its no-release policy by presenting it as a percentage of the whole, 4.87% represents a staggering 154 children detained in squalid CBP conditions for over 72 hours in September alone, with the highest time in custody reaching over a month. Kahn Decl. ¶ 3. This is despite continued low numbers of border encounters. The JC CBP Report indicates that only approximately 105 children crossed the border each day of September, on average. Id.

October data is just as troubling, with 115 children detained in CBP custody over 72 hours. Kahn Decl. ¶ 4. As detailed in the table below, the longest detention in October was 29 days. Id. Based on this data, at least one child spent nearly a month in the barren, jail-like conditions of CBP. Thirty-six children were detained for over five days, eighteen of whom were detained over a week, five of whom were detained for over ten days, and three of whom were detained for over two weeks. Given the low numbers of children crossing the border, Defendants provide no reasonable justification for forcing any child to stay detained in the harsh conditions of a windowless CBP cell for weeks or a month….

This is a central failure of what was [at least in the JFK / Camelot 1962 mythology] that “shining beacon on a hill” nation: how we treat the least of our brothers and sisters. Damn. Out.

नमस्ते

Martin Shkreli: The Proverbial “Bad Penny” That Won’t Go… Away.

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MARTIN SIGNS UP TO COLLECT STOCK PURCHASE WARRANTS AND RESTRICTED STOCK, FROM A ’34 ACT REPORTING COMPANY… IN ARGUABLE VIOLATION OF HIS CRIMINAL CONVICTION ORDERS(?). WILD.

So… after he “lost” 100% of his (likely mythical) trading portfolio in a single day — betting stupidly on a short that blew upward by 360% (also in a single day, liquidating his position on a supposed margin call)… he says he’s back as a “consultant” and connector — to a optical computing R&D company.

Which would be fine… if Q/C Technologies, Inc. was a private company.

But it is a ’34 Act reporting company — it is a PUBLIC company, traded on the NASDAQ. Moreover, it has been working on commercialization of two therapeutic platforms based on well-defined targets: Isomyosamine and Supera-CBD.

It sum, it is a life-sciences focused (potentially FDA regulated) medical pot / drug discovery company [until just about two months ago, that is]. That reads directly on his FTC lifetime banning order, affirmed by the US Supreme Court in 2024.

In addition to being paid $150,000 cash a year, he will earn stock purchase warrants, and restricted stock.

Moreover, as I understand his FTC banning order’s resolution (including accepting a agreed settlement of the over $12 million he owed in fines and penalties and expense reimbursement to the FTC, SEC and the US Attorneys offices in Brooklyn), he agreed never to accept a role, for pay — at any public company doing pharma work… and, at least NOT payable in the securities of a public company. Ever.

I’ll be back with some more specific citations (to his court ordered terms), but this is just… Stoopid, with two “Os”.

Even if the company does actually “FLIP” — to solely a optical computing developer, it still is closing out a… pharma biz. He cannot be around for that, for any type of pay.

[Meanwhile, he is still paying Dr. Koestler’s lawyers month by month to continue to try to chase him for the now-nearly $8 million he owes under federal court judgments, to the Estate of Koestler (Deceased).]

Damn. Out.

नमस्ते

Touchdown! — Jonny Kim, Back On Terra Firma…

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Jonny Kim is now sitting comfortably, bundled under a thermal blanket, on the steppes of remote Kazakhstan.

A light snow was falling, from thickly overcast skies, at 11:03:33 PM Central time (10:03:33 AM in Kazakhstan) as he landed.

One of the two Russian Cosmonauts was taken directly to the medical tent, but the Mission Commander sat out in the cold weather with Jonny Kim — and chatted amiably, with Russian reporters.

There you have it. Onward.

नमस्ते

No, Prof. Loeb — 3I/ATLAS Is No More Than A Large Interstellar Ball Of Primordial Ices… And, Yet Our Last Great Chance To View It, Arrives Soon…

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This is just a shortish late evening squib — to make plain that Harvard’s Prof. Avi Loeb is… not very credible, in his push to argue that the ice ball shows “signs of being the product of intelligent design“.

But come mid-December, it will have moved far enough away from the Sun that the JWST will get a very good set of eyes on it — the JWST has by far the best eyes human=kind has ever launched. And its infrared images — at very high resolution, too — of the supposed twin tails 3I/ATLAS now spouts… will be the definitive word on the subject.

No other telescope (on Earth, or in space) will have nearly as fine imagery of it. So do stay tuned, so we might definitively put this stuff to bed, with JWST data — in a couple more months:

…NASA’s Hubble Space Telescope reobserved interstellar comet 3I/ATLAS Nov. 30, with its Wide Field Camera 3 instrument. At the time, the comet was about 178 million miles (286 million kilometers) from Earth. Hubble tracked the comet as it moved across the sky. As a result, background stars appear as streaks of light.

Hubble previously observed 3I/ATLAS in July, shortly after its discovery, and a number of NASA missions have since studied the comet as well. Observations are expected to continue for several more months as 3I/ATLAS heads out of the solar system….

Onward, smiling just the same… as Prof. Loeb does challenge us to think out of the box, to be sure.

नमस्ते

Stupidly, Hinderaker Entirely Fails To Mention [Let Alone Grapple With] The Supremes’ CONTROLLING Precedent, In The FTC “Firing” Case…

~ condor ~ 1 Comment

Welp. Not surprising in the least — Hinderaker simply ignores… the actual SCOTUS’s prior decisions. See, Humphrey’s Executor v. US, 295 US 602 (1935).

Sure, the Supremes can, and (to come out the way John wildly hopes, tonight) — must — expressly overrule Humphrey’s Executor — a case decided on precisely these same facts, and same agency, even (the FTC)… from 1935.

But they will have to explain why this has been considered settled law for 90 years — yet was suddenly, this term, labeled as “wrong” — and yet they never bothered to over-rule it, in nine-tenths of the last century’s time. [They also should explain why they’ve implicitly followed it — all those decades — in no less than fifteen other cases, at the lower courts’ levels.]

My bet?

There simply aren’t five votes to toss Humphrey’s Executor [even though this has long been Justice Roberts’ own pet peeve, for decades on end].

The argument — to and fro, was just that — argument. For show (to mollify MAGAts, that Roberts is one of them), not substance — the actual work of crafting binding legal opinions, in important cases (on separation of powers).

The money bets say FTC remains an independent agency, as does FDA and IRS and SEC and of course, the Federal Reserve.

Do stay tuned — but laugh with me, at John’s wide incompetence on matters of law.

He truly is… senile. And that is… sad.

O U T.

Noemites Move — In Secret, In Tennessee — To REVISIT Rulings Against Them, In The Abrego Case. Yawn. None Of It Will Matter.

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It may well turn out that the “mini-trial” postponed last week (but originally due to occur today and tomorrow) — will now simply be… “the full trial” on the merits, come the week of January 20, 2026. [The able judge could easily take it as a dismissal motion, at the open — or at the close of the prosecution’s case in chief.] He has previously entered orders asking for motions the week before that trial date, on various matters ostensibly filed solely for the “mini-trial“.

In that regard, the able Judge Crenshaw has tonight indicated he will hold a sealed hearing this Wednesday, to address a “do-over” the government is seeking — on some of its proffered “evidence”. That “evidence” is in air-quotes because it is irrelevant, falsely manufactured and / or wildly prejudicial, and thus not helpful to any finder of fact. In addition, the government has moved to prevent Mr. Hecker from even mentioning that the government kidnapped Mr. Abrego Garcia to El Salvador — in violation of black letter law.

The able judge will never stand for that, since both the mini-trial — and the main on the merits one — advance the truthful claim by Mr. Hecker that Abrego Garcia was indicted in May 2025, for felonies — in Nashville (on a three year old traffic stop, for which no tickets were issued at the time!) in retaliation for asserting his rights, to be freed from the kidnapping, since he possessed a lawful order of non-removeablity — issued to him in Maryland some years ago — and it was in full force, at the moment that Noem chose to abduct him, without any due process of law.

And so, we are at a moment where the government all but knows it is going to bounced out, at trial by the able federal judge, and now seeks to change his prior rulings — hoping that xenophobic prejudice will save them from the loss — and embarrassment. To do so though, the judge must again review and discuss sealed papers filed by the Noemites, so the whole thing is for “his eyes only”.

Not even the government will be present. That is what “ex parte” means. And it is possible (if not highly likely) that Judge Waverly Crenshaw will simply dismiss the indictment — as the product of unlawful and vindictive animus — at the end of his private hearing. We shall see — but at a minimum he is likely to tell the Noemites that his prior rulings, excluding the inadmissable matters… will remain the law of the case:

…The Court will have a sealed, ex parte hearing on the Government’s Motion for Partial Reconsideration (Doc. No. 245) on Wednesday, December 10, 2025, at 1:00 p.m….

IT IS SO ORDERED….

Now you know — and I suspect this coming loss is in large part why Trump is said to be thinking of cashiering… Noem, before year end 2025. Yep — I. Am. Here. For. It! Onward.

नमस्ते

Update, Pharma M&A Edition: There Were At Least FIVE Other Unnamed Parties Circling The Water — When Merck Agreed To Buy Cidara: SEC Filing…

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So, the discussions had run, on and off — for over a year, with anonymous (but almost certainly, other pharma- / life sciences companies) companies A through E.

This is significant, because it means that Merck was likely very well-aware of what the true market value for these assets was — when it bid almost $9.2 billion for them.

That should be reassuring to Merck investors, as they likely do not want say Amgen or Pfizer getting this leg up — on Rahway. In any event, here’s a bit of the tick-tock, from the Schedule 14D-9 filing, of Friday night, dropped into EDGAR — at the SEC:

…On September 23, 2024, Cidara announced that the first subjects were dosed in its Phase 2b NAVIGATE Trial evaluating CD388 for the prevention of seasonal influenza in healthy unvaccinated adults aged 18-64 (the “NAVIGATE Trial”).

On September 29, 2024, representatives of Cidara management had an initial business development discussion in person with Company A in conjunction with a medical conference. Later, on November 19, 2024, Cidara entered into a confidentiality agreement, without a standstill, with Company A.

On October 1, 2024, a representative of Cidara management had an initial business development discussion by video conference with Company B. Cidara entered into a confidentiality agreement, without a standstill, with Company B on June 5, 2025.

On October 9, 2024, a representative of Cidara management had an initial business development discussion by video conference with Company C. On October 16, 2024, Cidara entered into a confidentiality agreement, without a standstill, with Company C.

On October 17, 2024, representatives of Cidara management had an initial business development meeting in person with Company D in connection with the IDWeek 2024 conference. Cidara followed up with Company D after the conference, and Company D entered into a confidentiality agreement, without a standstill, with Cidara on November 6, 2024.

Also on October 17, 2024, representatives of Cidara management met in person with Company C in connection with the same conference.

On October 31, 2024, representatives of Cidara management met by video conference with Company C to review existing preclinical and clinical data for CD388 and development plans.

On November 11, 2024, a representative of Cidara management had an initial business development call with a representative of Merck, following outreach to Merck by a representative of Cidara management.

On November 12, 2024, representatives of Cidara management had an in-person meeting at Company D’s offices to expand on business development discussions relating to CD388 from a clinical, regulatory, manufacturing and commercial perspective….

On December 16, 2024, representatives of Cidara management met by video conference with representatives of Company A management in furtherance of their initial discussions held on September 29, 2024.

On January 14, 2025, representatives of Cidara management had an in person meeting with Company D in conjunction with the JP Morgan Healthcare conference to expand on business development discussions.

On April 14, 2025, representatives of Cidara management met in person with Company A in conjunction with the ESCMID conference to expand on business development discussions and review Cidara’s commercial strategy and supporting market research and analytics.

On April 24, 2025, a representative of Cidara management had an initial business development meeting by video conference with Company E. Later, on August 14, 2025, Company E and Cidara entered into a confidentiality agreement containing a six-month standstill that terminated if Cidara entered into a change of control transaction with a third party.

Also on April 24, 2025, representatives of Cidara management met in person with Company A in connection with the World Vaccine Congress to expand on business development discussions.

On May 8, 2025, Cidara entered into an Open Market Sale AgreementSM with Jefferies LLC (“Jefferies”) to offer and sell, from time to time at Cidara’s sole discretion, Common Shares through Jefferies as sales agent and filed a sales agreement prospectus with the SEC covering the offering, issuance and sale by Cidara of up to a maximum aggregate offering price of $150 million of Common Shares under such agreement (the “ATM Prospectus”). Cidara subsequently suspended and terminated the ATM Prospectus on June 24, 2025.

On May 16, 2025, Cidara entered into a Mutual Confidential Disclosure Agreement with Merck relating to research, development or commercialization of CD388, which did not contain a standstill. This agreement was replaced on November 10, 2025, to permit a possible negotiated transaction between Cidara and Merck, which amendment did not contain a standstill. . . .

Beginning in late May through early July 2025, Cidara provided Company B, Company C, Company D and Merck with access to a virtual data room (“VDR”) containing an overview of chemistry, manufacturing and controls (“CMC”) related information and market research information in advance of the release of the Phase 2b data.

On June 13, 2025, representatives of Cidara management met by video conference with Company B to provide an update on the progress of the CD388 program and prepare for further engagement after the release of Phase 2b data for the NAVIGATE Trial.

On June 23, 2025, Cidara announced positive topline results from the NAVIGATE Trial.

On June 24, 2025, representatives of Cidara management had a meeting by video conference with representatives of Merck to review the Phase 2b data from the NAVIGATE Trial.

On June 25, 2025, a representative of Cidara management had a meeting by video conference with representatives of Company E regarding the release of the Phase 2b data from the NAVIGATE trial. . . .

On July 2, 2025, the Board by unanimous written consent appointed a Transaction Committee of the Board to facilitate and provide guidance to management and the full Board on the process for soliciting and evaluating any partnering or acquisition proposals and reviewing Cidara’s strategic alternatives, including licensing and collaboration transactions, royalty financing, joint ventures and acquisitions, and to make recommendations to the Board on whether to approve any transaction. The Transaction Committee was formed for efficiency and not to address any Board or other potential conflicts. The Transaction Committee was comprised of the following members of the Board: Daniel D. Burgess (Chair), Chrysa Mineo, Josh Resnick, M.D., Theodore R. Schroeder, M.D., Ryan Spencer and Jeffrey Stein, Ph.D (the “Transaction Committee”).

On July 7, 2025, representatives of Cidara management gave a management presentation by video conference to Company D.

On July 10, 2025, at the direction of Cidara management, representatives of Evercore and Goldman Sachs had a telephone call with representatives of Merck to discuss Merck’s preliminary interest in CD388 and next steps….

On the morning of November 8, 2025, Merck submitted a revised proposal to acquire Cidara for $156 per share (the “November 8 Proposal”). The November 8 Proposal indicated that Merck needed to complete CMC due diligence and to negotiate the definitive merger agreement and tender and support agreements, and that signing of the definitive merger agreement could be achieved by November 14.

The same morning, Company F submitted its first proposal to acquire Cidara for $140 per share and requested exclusivity and sent a draft exclusivity agreement. Company F’s proposal indicated that it believed that unnamed key employees of the Cidara team would be instrumental to the continuing success of Cidara’s business as part of Company F. Also that same morning, Company E made an oral offer of $127 per share in cash plus a contingent value right of $13 per share payable upon receipt of FDA marketing approval of CD388….

On November 11, 2025, members of Cidara management had separate due diligence calls with Merck relating to human resources and various financial matters, including Cidara’s operating results for the third quarter of 2025.

The same day, Cidara posted draft disclosure schedules to the VDR.

The same day, Company E submitted a revised bid proposal of $158 per share and a mark-up of the merger agreement. Merck did not revise its $156 per share price indicating that it was waiting to make a best and final offer. Company F submitted a revised proposal of $165 per share and a mark-up of the merger agreement….

The Board (without the Recused Director in attendance) then reconvened its meeting with management and representatives of Evercore, Goldman Sachs and Cooley in attendance to consider approval of the proposed transaction with Merck. A representative of Cooley reviewed with the Board its fiduciary duties in the context of approving a change of control of Cidara and key provisions of the Merger Agreement, referencing the summary circulated to the Board. Representatives of Evercore then reviewed Evercore’s financial analyses summarized below under “Opinion of Evercore Group L.L.C.” Thereafter, Evercore rendered an oral opinion, confirmed by delivery of a written opinion dated November 13, 2025, to the effect that, as of such date and based upon and subject to the assumptions, limitations, qualifications and conditions described in Evercore’s written opinion, the Common Share Offer Price to be received by the holders of Common Shares (other than holders of Excluded Shares) in the Offer and the Merger was fair, from a financial point of view, to such holders. Representatives of Goldman Sachs then reviewed Goldman Sachs’ financial analyses summarized below under “Opinion of Goldman Sachs & Co, LLC.” Thereafter, Goldman Sachs rendered an oral opinion, confirmed by delivery of a written opinion dated November 13, 2025 to the Board that, as of that date and based upon and subject to the factors and assumptions set forth therein, the $221.50 per share to be paid to holders (other than Merck or its affiliates) of Common Shares pursuant to the Merger Agreement was fair, from a financial point of view to such holders. A representative of Cooley then reviewed the proposed Board resolutions. After carefully considering the proposed terms of the transaction with Merck, and taking into consideration the matters discussed during the meeting and prior meetings of the Board and Transaction Committee, as further described under the caption “—Reasons for Recommendation”, the Board unanimously (excluding the Recused Director) (a) determined that the Merger Agreement and the Transactions, including the Offer and Merger, are advisable to, and in the best interest of, Cidara and its stockholders, (b) resolved that the Merger will be governed by and effective in accordance with Section 251(h) of the DGCL, (c) authorized and approved the execution, delivery and performance by Cidara of the Merger Agreement and the consummation of Transactions, including the Offer and the Merger, and (d) resolved to recommend that the stockholders of Cidara accept the Offer and tender their Shares to Purchaser pursuant to the Offer….

The rest, as they say… is history. And yes, based on decades of experience in these rooms, this is — in sum — how it usually progresses. Not any sort of a “one night affair“, by any stretch — and many very well heeled and sophisticated multinational parties see the value of getting control of these assets. these assets. Now you know. Onward, grinning….

नमस्ते