Streetbeat News

Acquisitions Mergers

VTLE

Vital Energy has acquired additional working interests in the Permian Basin for a total consideration of $55 million, expanding its presence in the region known for high-value oil and gas assets.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 10:11 pm

VTLE

Vital Energy, Inc. (NYSE:VTLE) has announced the acquisition of additional working interests in producing assets in the Permian Basin for a total of $55 million. These assets were acquired from Henry Energy LP, Moriah Henry Partners LLC, and Henry Resources LLC.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:09 pm

COCP

MRK

Cocrystal Pharma (COCP) received a termination notice from Merck (MRK) on December 15, 2023, ending their collaboration agreement from January 2, 2019. The termination will be effective on March 14, 2024, ceasing their joint development of influenza A/B antiviral compounds.

Portfolio Pulse from Charles Gross

December 21, 2023 | 10:05 pm

ADTX

MDLS

Aditxt Inc has entered into an asset purchase agreement with Pearsanta and MDNA Life Sciences, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:41 pm

BITF

BTBT

HIVE

MARA

RIOT

Marathon Digital (NASDAQ:MARA) has seen a significant rally of 622.8% in 2023, attributed to acquisitions of mining sites and optimism in the crypto industry. The company plans to add 390 megawatts to its current 584-megawatt capacity, with the transaction expected to close in Q1 of 2024. Other crypto miners like Riot Platforms, HIVE Digital Technologies, Bitfarms, and Bit Digital also reported substantial gains. Needham maintains a Hold rating on MARA but raised its 2024 revenue and EBITDA estimates. MARA's net income swung to $64.1 million in Q3, with revenues increasing sevenfold to $97.8 million, driven by a 467% increase in Bitcoin production and higher Bitcoin prices.

Portfolio Pulse from Khyathi Dalal

December 21, 2023 | 9:39 pm

OPTT

PGNT

Paragon Technologies (PGNT) has issued a statement to Ocean Power Technologies (OPTT) shareholders, expressing concerns about OPTT's financial performance and stock price decline under the current Board and CEO. Paragon, owning 4.9% of OPTT, criticizes the Board for misleading optimism and poor capital management, suggesting OPT could be worth over $3 per share with better cost structure and focus on Marine Advanced Robotics. Paragon urges shareholders to vote for their Blue proxy card, proposing steps to improve OPTT's performance and threatening further action if the Board does not cooperate.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:26 pm

BNZI

YA II PN, Ltd. has reported a 9.9% stake in Banzai International according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:22 pm

ABBV

ALPN

Alpine Immune Sciences has amended its 2020 agreement with AbbVie regarding acazicolcept. The amendment halts new enrollment in the phase 2 study for systemic lupus erythematosus. Final analysis is expected by end of 2024. AbbVie retains an option to license acazicolcept, exercisable upon receiving a data package from Alpine.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:22 pm

ABBV

ALDX

Aldeyra Therapeutics announced that AbbVie has extended the period during which it can exercise an option to enter a license agreement for reproxalap in dry eye disease. AbbVie can now exercise this option until the earlier of 10 business days post-FDA approval or 18 months from the effective date. If exercised, a $5M non-refundable payment will be credited against the upfront cash payment.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:19 pm

MRSN

Mersana Therapeutics and Merck KGaA have mutually agreed to terminate their Collaboration and Commercial License Agreement from June 23, 2014, as well as their Supply Agreement from May 30, 2018, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:17 pm