Streetbeat News

Acquisitions Mergers

HARP

MRK

Merck & Co Inc (NYSE:MRK) is in talks to acquire Harpoon Therapeutics Inc (NASDAQ:HARP) for an estimated $700 million, at a proposed price of around $23 per share. This acquisition is part of Merck's strategy to diversify its oncology portfolio beyond its top-selling drug Keytruda. Harpoon's lead candidate, HPN328, has shown promising results in early-stage trials for small-cell lung cancer. MRK's stock closed at $117.20, while HARP's shares surged 99.8% to $21.08 in premarket trading.

Portfolio Pulse from Vandana Singh

January 08, 2024 | 12:04 pm

AXNX

BSX

Boston Scientific has agreed to acquire Axonics for $71 per share in cash, valuing the company at around $3.7 billion. This acquisition is expected to strengthen Boston Scientific's portfolio in the neuromodulation market.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:02 pm

GOEV

Canoo has acquired manufacturing assets at significantly reduced prices to expand production at its Oklahoma City facility. This strategic move is aimed at scaling up their manufacturing capabilities in a cost-effective manner.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 12:01 pm

NTLA

REGN

Regeneron Pharmaceuticals anticipates a $30M acquired in-process R&D charge in Q4 2023 due to the extension of its collaboration with Intellia Therapeutics. This charge is expected to negatively affect both GAAP and Non-GAAP EPS for Q4 FY23 by approximately $0.21.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:41 am

HUT

Hut 8 Mining Corp. has received court approval for its stalking horse bid to acquire four natural gas power plants, including the North Bay Bitcoin mine. This strategic move is expected to enhance Hut 8's operational capabilities and secure energy resources for its cryptocurrency mining operations.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:36 am

DXPE

DXP Enterprises has finalized the acquisition of Hennesy Mechanical Sales, using cash from its balance sheet. The deal was signed on January 2, 2024. Hennesy's sales and adjusted EBITDA for the twelve months ending November 30, 2023, were about $10.1 million and $1.2 million, respectively.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:21 am

VCXB

10X Capital Venture Acquisition Corp. III (10X III) announced that COO David Weisburd is expected to become CEO, succeeding Hans Thomas, subject to board approval. Osman Ahmed is expected to take over as President from Oliver Wriedt. Hans Thomas will continue as Chairman of the board.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:17 am

KBR

KBR, Inc. has been selected to provide its K-GreeN technology for Lotte Chemical's H2biscus green ammonia project in Malaysia. The project, involving a consortium including Lotte Chemical, KNOC, and Samsung Engineering, will produce 800 KTA of green ammonia using hydropower. Financial terms of the contract were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:10 am

IRWD

Ironwood Pharmaceuticals projects FY23 Linzess U.S. net sales growth of 6%-8%, with total revenue guidance of $435M-$450M, aligning with a consensus of $444.02M. The company also anticipates an adjusted EBITDA of approximately $(900)M for FY23, which includes a one-time charge of about $1.1 billion due to the acquisition of VectivBio.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:05 am

AMGN

BMY

MRNA

SRPT

VRTX

XBI

The 42nd annual JPMorgan Healthcare Conference begins in San Francisco, with expectations of significant industry discussions, potential deal announcements, and company presentations. Past conferences have influenced M&A activity and stock volatility. Bristol-Myers Squibb, Vertex Pharmaceuticals, Amgen, Sarepta Therapeutics, and Moderna are among the companies presenting. The SPDR S&P Biotech ETF (XBI) has shown varied performance during past conferences, with individual stocks potentially experiencing volatility based on news from the event.

Portfolio Pulse from Shanthi Rexaline

January 08, 2024 | 11:04 am