Streetbeat News

Acquisitions Mergers

DTIL

Precision BioSciences (DTIL) has concluded its collaboration with Prevail Therapeutics, regaining control of three programs. The collaboration demonstrated the efficacy of ARCUS for gene excision and insertion. DTIL plans to continue developing these programs independently or with new partners. The company's key clinical priorities in Hepatitis B and Primary Mitochondrial Myopathy, along with its financial runway until the second half of 2026, remain unaffected.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:17 pm

AILE

ARRW

iLearningEngines has finalized its business combination with Arrowroot Acquisition Corp and will begin trading on the Nasdaq under the ticker symbol 'AILE'.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:13 pm

ODC

Oil-Dri Corporation of America (ODC) announced its plan to acquire Ultra Pet Company for $46 million in cash. The acquisition is to be financed through cash on hand and existing credit facilities, with an expected closure in Oil-Dri's fiscal Q4.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:13 pm

GAME

GameSquare reported its FY23 earnings with a narrower EPS loss of $(2.81) compared to $(3.26) YoY and a significant revenue increase to $52M from $28.1M YoY. Despite a higher net loss of $31.3M from $18.1M YoY, the adjusted EBITDA loss improved as a percentage of revenue. The company projects over $100M in revenue for 2024, factoring in contributions from its recent acquisition of FaZe Clan.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:12 pm

NCRA

Nocera, Inc. (NCRA) has completed the acquisition of Hangzhou SY Culture Media Co. by issuing 600,000 shares of its common stock. This strategic move aims to expand Nocera's business operations and market presence.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 8:03 pm

ENV

Envestnet shares are trading higher following reports that the company is considering various options, including a potential sale.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 7:32 pm

REZI

SNPO

Resideo Technologies Inc's acquisition of Snap One Holdings Corp for $1.4 billion is seen as a 'strong strategic fit' by JPMorgan, with a potential 35% upside for Resideo's stock. The deal aligns with both companies' focus on the smart living market, with financial and strategic benefits expected from the merger. JPMorgan maintains an Overweight rating on Resideo with a $27 price target, highlighting the complementary nature of the companies and potential for significant distribution expansion and profitability growth for Snap One.

Portfolio Pulse from Surbhi Jain

April 16, 2024 | 6:54 pm

ENV

Envestnet is reportedly exploring various options, including a potential sale, with assistance from a financial advisor, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:29 pm

ABBV

AVTX

LLY

NVS

Oppenheimer upgraded Avalo Therapeutics Inc (AVTX) after its acquisition of an ex-Eli Lilly drug, AVTX-009, for hidradenitis suppurativa (HS). The drug is Phase 2-ready and shows promise in the competitive HS market, with a potential expansion into ulcerative colitis. Avalo announced a $185 million private placement to fund development. The analyst set a $35 price target, anticipating a 15% market penetration and a $75,000 launch price in 2029. AVTX shares rose 13.9% to $17.36.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 6:25 pm

CURLF

MSOS

Boris Jordan, associated with Curaleaf, mentioned that following an acquisition in Canada, the company now has business operations in Australia and New Zealand. They are focusing on these markets to make Curaleaf's brands the most recognizable in the cannabis space.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 6:20 pm