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There's some good news in 2020: Cancer death rates have been falling overall, and the gap between racial and ethnic groups has been narrowing.
Yes, but: Decades of systemic racism and the structures developed under it continue to limit the ability of Americans to benefit equally from cancer advances, some medical experts tell Axios, as seen by Black Americans who've had the highest death rate from cancer for 40 years. And the pandemic is expected to exacerbate the problem further.
Driving the news: The American Association for Cancer Research on Wednesday issued its first annual cancer disparities progress report intended to be a "baseline" for watching trends, says John Carpten, chair of the report's steering committee and of the AACR Minorities in Cancer Research Council.
The good news: Overall cancer death rates dropped for all groups from 2000 to 2017...
The bad news: The report says cancer burden disparities are evident in many areas, like...
Lack of diversity in both the health care workforce and in clinical trials is also a problem.
Between the lines: Further research is needed to better understand the importance of any biological or genetic differences, says Namandjé Bumpus, professor and chair of the pharmacology department at Johns Hopkins University School of Medicine.
What's next: Ribas says AACR has formed a task force to call on policymakers and stakeholders to work on concrete actions to alleviate cancer disparities.
Go deeper: The cost of racial disparities in clinical trials
The Food and Drug Administration granted emergency authorization Tuesday to Ellume's over-the-counter antigen COVID-19 test for fully at-home use.
Why it matters: Once available, a person in theory would be able to buy the test in a drug store, swab their nose, and run the test for results in about 20 minutes.
The big picture: Currently, home kits that test for the novel coronavirus either still need a prescription or require swabs be shipped to a lab, which could take days for results.
How it works: The rapid test can be used by symptomatic and asymptomatic users ages 2 years and above. This type of test detects fragments of proteins of the SARS-CoV-2 virus from a nasal swab sample.
Yes, but: Like all other antigen tests, "a small percentage of positive and negative results from this test may be false," the FDA notes.
The next round of Paycheck Protection Program loans will open on Monday, albeit not for everyone.
Why it matters: As evidenced by this morning's bleak jobs report, many businesses continue to be battered by the surging pandemic.
Timing: The loan application window will open Monday primarily for first-draw borrowers working with a group of smaller lenders defined as community financial institutions. On Wednesday it will be expanded to second-draw applications from those same lenders, which comprise around 10% of PPP's approved lender universe.
One big change: SBA won't instantaneously provide loan numbers to applicants. Instead, it will use an automated system to vet some of the provided information (ID verification checks, etc.), which will run on top of the E-Tran platform that was used last year.
Other changes, as previously reported, includes new payroll limits (300 vs 500) and a requirement that applicants can demonstrate at least a 25% reduction in gross receipts between comparable quarters between 2019 and 2020.
One big question is how many lending institutions will participate this time around.
The big picture: Almost every issue of the Axios Pro Rata newsletter now includes a VC, private equity and/or M&A blurb for a company that received PPP.
The bottom line: Better late, and a little bit slower, than never.
The House Financial Services Committee will convene a hearing tomorrow on "recent market volatility involving GameStop stock and other stocks" to continue the whodunnit of the current state of financial markets, especially U.S. stocks.
What's happening: Chair Maxine Waters will question the CEOs of Reddit, Robinhood, Citadel Securities, Melvin Capital and Keith Gill, also known as Roaring Kitty or u/DeepF--kingValue.
Between the lines: Waters has made clear who she believes the villains to be in this story, noting in a Jan. 28 press release that "[h]edge funds have a long history of predatory conduct and that conduct is entirely indefensible. Private funds preying on the pension funds of hard working Americans must be stopped."
Reality check: It's unclear how the hedge funds' speculative activity and predatory conduct hurt anyone besides their clients.
The big picture: That could mean the culprits for the excesses and wild swings in the market are elsewhere, and central bankers have spent the past week doing their best to keep eyes from looking in their direction.
What they're saying: St. Louis Fed president James Bullard became the latest central banker to insist that, in fact, there is no bubble. “You do see speculative frenzies from time to time in markets, and that’s part of the process.”
This is despite essentially all of Wall Street, most former central bankers and their own research refuting such claims.