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XMTR

Xometry has appointed Fabio Rosati as the new Chair of its Board, following the retirement and departure of the current Chair, George Hornig. Rosati's experience and leadership are expected to guide Xometry in its future endeavors.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:56 pm

ATHE

Alterity Therapeutics will host a webcast to discuss the efficacy data of ATH434 in primates and recent clinical progress. The webcast, led by CEO Dr. David Stamler, is scheduled for 6 December 2023 in Australia and 5 December 2023 in the US. Investors need to register to attend and can submit questions in advance.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:35 pm

TSP

TuSimple's Board has authorized an additional restructuring plan, which includes a significant reduction in its US workforce. Approximately 150 employees, constituting 75% of the US workforce and 19% of the global workforce, will be affected according to a recent filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:27 pm

MMSI

Merit Medical Systems, Inc. (MMSI) plans to offer $550 million in Convertible Senior Notes due 2029 to qualified institutional buyers, with an option for an additional $82.5 million. The notes are senior unsecured obligations with semiannual interest. Upon conversion, Merit may pay in cash, stock, or a mix. Proceeds will fund general corporate purposes, potential acquisitions, and capped call transactions to minimize dilution from conversions. The notes and any shares from conversions are not registered under the Securities Act and are subject to Rule 144A.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:23 pm

TCRX

TScan Therapeutics, Inc. (NASDAQ:TCRX) is set to host a virtual KOL event to discuss results from its ongoing Phase 1 trial of TSC-100 and TSC-101, presented at the 65th ASH Annual Meeting. The event will review the therapies designed to treat residual disease and prevent relapse in patients with certain leukemias and syndromes post-transplant. Featured speakers from TScan and City of Hope will participate, and a replay will be available on the company's website.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:22 pm

KAR

OPENLANE, Inc. (NYSE:KAR) has signed an agreement to acquire Manheim Canada from Cox Automotive for approximately $95 million USD. The acquisition includes the Manheim Montreal facility, auction sales, operations, and select staff, as Manheim Canada plans to exit the Canadian market. This move is set to enhance OPENLANE's digital strategy by expanding inventory, data, and customer base, and is expected to deliver accelerated cash flow through asset sale, cost, and operational synergies. The integration will consolidate operations and transition customers and business to OPENLANE's digital marketplace and vehicle logistics centers, excluding other Manheim Canada facilities. OPENLANE will also market and sell its existing Montreal facility to fund a significant portion of the acquisition.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:13 pm

TVTX

Travere Therapeutics, Inc. has announced that it expects to have a sufficient cash runway into 2028, indicating a strong financial position and the ability to fund its operations and capital requirements for the next several years.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:12 pm

LSTR

Landstar System, Inc. has announced that Frank A. Lonegro will succeed James B. Gattoni as CEO. The transition is part of a planned succession process, with Gattoni retiring after a long tenure with the company. Lonegro, who has a strong background in finance and leadership, is expected to continue Landstar's growth trajectory and operational success.

Portfolio Pulse from Bill Haddad

December 04, 2023 | 9:10 pm

JOAN

JOANN Inc. has announced that it is on track to achieve $225 million in annual cost reductions through its Focus, Simplify and Grow initiative. This initiative is aimed at streamlining operations and enhancing growth.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 9:08 pm

MCK

Teamsters Local 150 members at McKesson's Sacramento warehouse have voted to authorize a strike if a fair contract is not reached by December 10. McKesson has rejected the Teamsters' health care plan proposal, offering an alternative that workers find unaffordable. The union criticizes McKesson for prioritizing stock buybacks over workers' welfare, despite the company's significant revenue growth. A strike could have national implications, affecting supplies to pharmacies, doctors, and the U.S. Department of Veterans Affairs.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 8:56 pm