Amgen announced positive results from the EvolocumaB Effect on LDL-C LowerIng in SubJEcts with Human Immunodeficiency ViRus and INcreased Cardiovascular RisK study evaluating the efficacy and safety of Repatha in patients who are human immunodeficiency virus-positive and have high low-density lipoprotein cholesterol despite stable background lipid-lowering therapy. The study demonstrated that treatment with Repatha significantly reduced LDL-C. Results from the double-blind 24-week study show that in people living with HIV with hypercholesterolemia or mixed dyslipidemia, monthly treatment with Repatha reduced LDL-C by 56.9% from baseline compared to placebo, meeting its primary endpoint.1 Patients treated with Repatha also demonstrated improved secondary outcomes versus placebo with 71.9% of patients achieving an LDL-C reduction of more than or equal to 50% from baseline and 65.4% of patients achieving an LDL-C of less than 70 mg/dL. No new safety concerns were identified in the BEIJERINCK trial. The subject incidence of treatment-emergent adverse events was comparable among both groups. The Phase 3b BEIJERINCK study is part of Amgen's PROFICIO program of clinical and real-world evidence studies investigating the impact of Repatha and examining the use of lipid-lowering therapies across different patient populations. To date, the PROFICIO program consists of 35 clinical trials including more than 41,000 patients worldwide and more than 80 real-world evidence studies.

Edwards Lifesciences announced it will temporarily pause new enrollments in its active pivotal clinical trials of transcatheter mitral and tricuspid therapies, in response to the urgent COVID-19 response around the globe. Edwards is coordinating with the trials' clinical investigators, and the decision to resume enrollments in the trials will be made in consultation with each investigator and hospital at the time when their clinicians' and patients' needs can be better served.

Merck (MRK) announced the presentation of results from the VICTORIA trial, a Phase 3 study evaluating the efficacy and safety of its investigational drug vericiguat, an orally administered soluble guanylate cyclase stimulator being developed to treat patients with heart failure with reduced ejection fraction and following a worsening event. VICTORIA is the first contemporary outcomes study focused exclusively on symptomatic chronic heart failure patients following a worsening event. Vericiguat is being jointly developed with Bayer (BAYRY). Patients enrolled in VICTORIA were at high risk of hospitalization and cardiovascular death following a recent heart failure decompensation. Vericiguat, when given in combination with available heart failure therapies, met the primary efficacy endpoint of reducing the risk for the composite endpoint of heart failure hospitalization or cardiovascular death in patients with worsening chronic heart failure with reduced ejection fraction, compared to placebo. A hazard ratio of 0.90 in this high risk population translated into a clinically relevant 4.2/100 patient-years absolute reduction in event rate. Based on this absolute risk reduction, the number needed to treat with vericiguat for one year to prevent a primary outcome event is approximately 24 patients. The safety profile of vericiguat was consistent with that reported in previous studies. Merck and Bayer plan to share VICTORIA data with regulatory authorities worldwide.

New data from a sub-analysis of the landmark Phase III DAPA-HF trial showed that AstraZeneca's FARXIGA reduced the incidence of the primary composite endpoint of heart failure worsening or cardiovascular death compared to placebo, in patients with heart failure with reduced ejection fraction, irrespective of their background therapy. FARXIGA was evaluated in patients who were receiving a broad range of pharmacological treatments, device therapies and cardiac resynchronization therapy for HFrEF. A consistent reduction in the primary outcome was observed across all these treatment subgroups. FARXIGA is indicated as an adjunct to diet and exercise to improve glycemic control in adults with T2D. In the US it is also approved to reduce the risk of hospitalization for HF in patients with T2D and established CV disease or multiple CV risk factors. In January 2020, the Food and Drug Administration accepted a supplemental New Drug Application and granted Priority Review for FARXIGA to reduce the risk of CV death or the worsening of HF in adults with HFrEF with and without T2D. The Prescription Drug User Fee Act date, the FDA action date for this supplemental application, is scheduled for the second quarter of 2020.

Redwood Trust announced that it has delayed the payment date for its previously declared 32c per share common stock dividend for the first quarter of 2020. The first quarter 2020 dividend is now scheduled to be paid on June 12, 2020. As previously announced on February 27, 2020, the first quarter 2020 dividend will continue to be payable to stockholders of record on March 16, 2020. Christopher Abate, Chief Executive Officer of Redwood Trust, explained, "We remain focused on paying the first quarter dividend. While the decision to delay the payment of this dividend was difficult to make, we believe it is in the best interests of Redwood during this period of near-term uncertainty and volatility caused by the COVID-19 pandemic."

On March 24, the company received written notices from certain affiliates of Royal Bank of Canada alleging that events of default had occurred with respect to various financing agreements. The company disputes RBC's notices of events of default and filed a suit in federal district court in New York describing the wrongful conduct by RBC and seeking both to enjoin RBC from selling the company's collateral securities as well as damages. The company has also received notifications from several additional financing counterparties of alleged events of default under their financing agreements, and of certain of those counterparties' intentions to accelerate the company's and such subsidiaries' performance obligations under the relevant agreements. Under the terms of the applicable financing arrangements, if the company fails to deliver additional collateral or otherwise meet margin calls when due, the financing counterparties may demand immediate payment by the company of the aggregate outstanding financing obligations owed to such counterparties, and if such financing obligations are not paid, may sell the securities and apply the proceeds to the company's financing obligations and/or take ownership of the securities securing the company's financing obligations. The company may also be liable for a shortfall if the proceeds from such sale or value of such securities is less than the relevant financing obligation.

Since March 23, the company and several of its subsidiaries have received notifications from several financing counterparties of alleged events of default under their financing agreements, and of certain of those counterparties' intentions to accelerate the company's and such subsidiaries' performance obligations under the relevant agreements. The company and its subsidiaries have disputed certain of those notices. However, in the event of a default under one or more of those agreements, financial and other obligations under such agreements, and in some cases the company's obligations as a guarantor, may be accelerated and the counterparties may take ownership of the securities pledged to secure the financing obligations by the company or its subsidiaries. Certain counterparties have informed the company that they have sold the securities pledged to secure the financing obligations. The company and its subsidiaries also may be subject to penalties under those agreements and may suffer cross-default claims from its other lenders. The company continues to engage in discussions with its financing counterparties with regard to entering into forbearance agreements pursuant to which each counterparty would agree to forbear from exercising its rights and remedies with respect to an event of default under the applicable financing arrangement for an agreed-upon period. The company cannot predict whether its financing counterparties will enter into a forbearance agreement, the timing of any such agreement, or the terms thereof.

On March 27, the company announced that the Board has approved a suspension of the company's quarterly dividends on the company's common stock, the company's 8.25% Series A Cumulative Redeemable Preferred Stock, the company's 8.00% Series B Cumulative Redeemable Preferred Stock, and the company's 8.000% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, beginning with the common dividends that normally would have been declared in March and the preferred dividends that would have been declared in May. The Board's decision reflects the company's continuing focus on conserving capital and improving its liquidity position during the current market volatility.