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Teva Pharmaceutical Industries Ltd. (TEVA) has filed a Form 144 announcing the possible sale of 52,742 ordinary shares through Citigroup Global Markets on or about 01-Aug-2025. The shares carry an estimated aggregate market value of $799,437 and equal roughly 0.005 % of the 1.15 billion shares outstanding, indicating a very small portion of the company鈥檚 float. The seller鈥攁n unnamed insider鈥攔eceived the stock on 01-Aug-2022 via a restricted share-unit (RSU) award. No other sales have been reported in the past three months. A Form 144 is a notice, not a guarantee, but signals that the insider may execute the transaction on the NYSE under Rule 144. Given the modest size and compensation-related origin, market impact is expected to be minimal, though insider sales can be perceived as a slight negative sentiment indicator.

Kiniksa Pharmaceuticals International, plc (KNSA) has filed a Form 144 to notify the SEC of an intended insider sale.

• Shares to be sold: 64,508 common shares
• Aggregate market value: $1,928,595.68
• Approximate sale date: 07/30/2025
• Broker: Morgan Stanley Smith Barney LLC, New York
• Shares outstanding: 74,107,668

The shares were acquired the same day (07/30/2025) through the exercise of employee stock options under a registered plan and will be sold for cash. No other sales by this insider were reported in the past three months.

The proposed disposition equals roughly 0.09% of total shares outstanding, indicating a modest, routine-sized transaction rather than a large liquidation. The filer attests to having no undisclosed material adverse information and confirms compliance with Rule 10b5-1.

Mersana Therapeutics, Inc. (NASDAQ: MRSN) filed an 8-K to disclose the termination of its October 29, 2021 loan and security agreement with Oxford Finance LLC and other lenders. On July 1, 2025, the company paid approximately $17.9 million, which fully satisfied and discharged all outstanding indebtedness and related obligations under the agreement. As a result, the loan agreement and its related collateral security documents are no longer in effect.

The disclosure was made under Item 1.02 (鈥淭ermination of a Material Definitive Agreement鈥�). No other material events, financial results, or operational updates were included in this filing.

Morgan Stanley Finance LLC, guaranteed by Morgan Stanley (ticker MS), is marketing Worst-of INDU and SPX Dual Directional Market-Linked Notes maturing on August 1, 2030. The structured note allocates exposure to the worst performer of the Dow Jones Industrial Average (INDU) and the S&P 500 Index (SPX). Key economic terms include a 100% upside participation rate and a 100% 鈥渁bsolute return鈥� participation on index declines of up to 20%. Positive index performance is capped at 137-140% of principal (maximum cash payment $1,370-$1,400). If the worst performing index closes below the 80% knock-out level on the single observation date (July 29, 2030), principal is fully at risk; the payment then reflects only the indexed return, potentially below par. The notes do not pay coupons and are not listed on any exchange.

The preliminary estimated value is $938.10 per $1,000 note鈥攔oughly 6% below issue price鈥攈ighlighting built-in fees and hedging costs. Investors face issuer and guarantor credit risk, limited secondary liquidity, tax complexity and valuation determined by Morgan Stanley鈥檚 internal models. All payments occur at maturity and depend solely on the closing level of the worst index on the observation date; interim movements are irrelevant. The offering is made under Registration Statement Nos. 333-275587 and 333-275587-01, with pricing set for July 28, 2025.