Hailshadow/iStock via Getty Images Shares of Annovis Bio (NYSE:ANVS) more than doubled in value on Tuesday after the company said its lead asset, buntanetap, was found to be safe and effective in improving the physical and cognitive functions of patients with early Parkinson’s disease. Updating data from its Phase 3Continue Reading
Andrii Dodonov Update 2.00PM EST: Adds latest share move and Oppenheimer’s downgrade Cell therapy developer Cartesian Therapeutics (NASDAQ:RNAC) announced Tuesday that its lead asset, Descartes-08, reached the main goal in a mid-stage trial against the muscle disorder myasthenia gravis (MG). In conjunction with the data, the Gaithersburg, Maryland-based biotech announcedContinue Reading
Bruce Bennett/Getty Images News Seaport Research Partners has upgraded Bank of America’s (NYSE:BAC) rating from “Neutral” to “Buy.” In a Diversified Financials report, senior analyst Jim Mitchell said the team is setting Bank of America’s (BAC) price target at $48, with a 12.5x multiple of 2025 EPS, up from 10.4x.Continue Reading
U.S. stocks on Tuesday struggled for traction, as market participants digested some conflicting signals. Strong labor market data countered dovish comments on inflation from Federal Reserve chair Jerome Powell. Wall Street’s three major averages have seesawed in the second trading session of H2 2024. The tech-heavy Nasdaq Composite (COMP:IND) wasContinue Reading
phototechno Canadian drug developer Apotex on Tuesday announced an agreement with Coherus Biosciences (NASDAQ:CHRS) to buy Canadian rights to the former’s cancer therapy toripalimab, marketed in the U.S. as Loqtorzi for head and neck cancer. Under the agreement, Apotex will hold exclusive Canadian rights to toripalimab, an anti-PD-1 monoclonal antibodyContinue Reading
Pgiam/iStock via Getty Images Shares of Incyte (NASDAQ:INCY) traded lower on Tuesday after BMO Capital Markets downgraded the drugmaker to underperform from market perform, citing the potential consequences of the company’s recently announced $2B share buybacks. The transaction targeted for up to $1.672B worth of Incyte’s (INCY) common stock “appearsContinue Reading
designer491 Ardelyx (NASDAQ:ARDX) stock tumbled 20% Tuesday morning after the company said it has decided not to apply to include its drug Xphozah in the US Centers for Medicare and Medicaid Services’ Transitional Drug Add-on Payment Adjustment, or TDAPA, program for certain renal disease drugs. The biotech company said inContinue Reading
Talen Energy (OTCQX:TLNE) Tuesday said that it has executed an agreement to complete the repurchase of about 2.4 million shares of its outstanding common stock from affiliates of Rubric Capital Management LP at a purchase price of $116.00 per share, for an aggregate purchase price of approximately $280 million. TheContinue Reading
Monty Rakusen Stock futures edged lower in the premarket hours of Tuesday ahead of the JOLTS report due later today. Here are some of Tuesday’s biggest stock movers: Biggest stock gainers Paramount Global (NASDAQ:PARA) shares rose nearly 3% following a report that media mogul Barry Diller and his company IACContinue Reading
Debora Vandor/iStock via Getty Images Hawaiian Electric (NYSE:HE) fell 9.3% at least partly amid a report that the Federal Bureau of Alcohol, Tobacco, Firearms and Explosives has completed its report on the cause of the Maui wildfires. The public won’t be able to see the report until the Maui FireContinue Reading
