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Acquisitions Mergers

ABVC

ABVC BioPharma Inc's shares have surged by 309% after the company announced a multi-year licensing agreement with AiBtl BioPharma for their CNS drugs targeting Major Depressive Disorder (MDD) and Attention Deficit Hyperactivity Disorder (ADHD). The deal includes a 46 million-share stock allocation from AiBtl, milestone cash payments of $7 million, and royalties of up to $200 million. AiBtl plans to go public on NASDAQ in 2024.

Portfolio Pulse from Henry Khederian

October 26, 2023 | 1:29 pm

DM

Desktop Metal, Inc. (NYSE:DM) and Schaeffler AG are collaborating on additive manufacturing of multi-material powders, including metal and ceramics. Schaeffler has acquired Desktop Metal's Belgium-based Aerosint and will integrate its technology into Schaeffler's laser-based multi-material AM system. Desktop Metal will continue to work with Schaeffler on developing the technology for binder jet 3D printing.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:11 pm

ICPT

Alfasigma S.p.A. has announced the expiration of the Hart-Scott-Rodino Antitrust Improvements Act waiting period for its proposed acquisition of Intercept Pharmaceuticals, Inc. (NASDAQ:ICPT). This satisfies one of the conditions for the tender offer. Other conditions, including a minimum tender of a majority of outstanding Intercept common stock, remain to be satisfied. The offer and withdrawal rights will expire on November 8, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:09 pm

BP

TSLA

BP's EV charging business, bp pulse, has ordered $100 million worth of Tesla's ultra-fast chargers, marking the first time Tesla's chargers will be used in an independent EV charging network. The chargers will be deployed across the bp pulse network, including at key BP, Amoco, ampm, and Thorntons-branded sites, TravelCenters of America locations, and at bp pulse's large-scale Gigahub charging sites. The roll-out is planned to begin in 2024. This deal is part of BP's plan to invest up to $1 billion in EV charging across the US by 2030.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 1:04 pm

CLF

X

US Steel (NYSE:X) is set to report its Q3 earnings on Oct. 26. The company is considering strategic options, including a $7.1 billion acquisition offer from Cleveland-Cliffs (NYSE:CLF). US Steel is undergoing a transformation, investing in mini mills and EAFs, which are expected to benefit from the Inflation Reduction Act. The company's stock is trading at attractive valuations among competitors such as Nucor (NYSE:NUE), Reliance Steel & Aluminum (NYSE:RS), Ternium (NYSE:TX), Carpenter Tech (NYSE:CRS), Vale (NYSE:VALE) and Ramaco Resources (NASDAQ:METCB). Wall Street analysts expect US Steel to report $1.15 in EPS for the quarter and $4.39 billion in revenue.

Portfolio Pulse from Surbhi Jain

October 26, 2023 | 12:58 pm

ABVC

ABVC BioPharma has entered into a term sheet to license the global rights of CNS drugs for MDD and ADHD to AiBtl BioPharma. The deal is valued at $667 million, which has led to a rise in ABVC's share price.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:56 pm

GPCR

HSTM

ICPT

NXGN

OLK

The article lists five overbought health care stocks, indicating they may be overvalued: Structure Therapeutics Inc. (GPCR), Olink Holding AB (OLK), Intercept Pharmaceuticals, Inc. (ICPT), NextGen Healthcare, Inc. (NXGN), and HealthStream, Inc. (HSTM). Overbought status is determined by the Relative Strength Index (RSI), with values above 70 indicating overbought conditions. The companies have recent news such as acquisition deals, private placements, and earnings reports.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 12:49 pm

ABVC

ALT

MAT

ABVC BioPharma has entered into a term sheet to license global rights of CNS drugs to AiBtl BioPharma at a valuation of $667 million. Mattel shares are trading lower following the company's Q3 financial results. Altimmune has been granted Fast Track Designation by the FDA for Pemvidutide for the treatment of Non-Alcoholic Steatohepatitis (NASH).

Portfolio Pulse from ryanfaloona@benzinga.com

October 26, 2023 | 12:46 pm

AGCO

AGCO Corporation (NYSE:AGCO) has announced that Plevna Implement will expand into western Indiana by purchasing MacAllister Machinery's store in Rensselaer, Indiana, and opening a fifth Indiana store at a soon-to-be-announced location. This expansion is part of AGCO's ambitious growth plan in North America for 2022, and will provide Indiana farmers with full-line sales and service of AGCO's brands, including Fendt® and Massey Ferguson®.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:41 pm

ABVC

ABVC BioPharma has entered into a term sheet to license global rights of its CNS drugs for MDD and ADHD to AiBtl BioPharma, with a valuation of $667M. The agreement includes AiBtl stock of 46 million shares (57% of AiBtl) and milestone cash payments of $7M with royalties of 5% of net sales, up to $200 million, after the product's launch. AiBtl plans to go IPO and get listed on NASDAQ in 2024.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 12:33 pm