Streetbeat News

Partnerships

GLPG

BridGene Biosciences Inc. has entered into a strategic collaboration and licensing agreement with Galapagos NV (NASDAQ:GLPG) to develop cancer treatments using BridGene's IMTAC chemoproteomics platform. Galapagos will pay BridGene up to $27 million in upfront and preclinical research milestone payments, and potentially over $700 million in clinical and commercial milestones, plus royalties on net sales. This follows Galapagos' recent transfer of its Jyseleca business to Alfasigma, which is expected to save €150-200 million and allow for investment in technology platforms and licensing opportunities.

Portfolio Pulse from Vandana Singh

January 03, 2024 | 9:02 pm

GLPG

BridGene Biosciences has entered into a collaboration with Galapagos, where Galapagos will pay BridGene up to $27 million in upfront and preclinical research milestone payments. Additionally, BridGene could receive over $700 million in clinical and commercial milestones, along with tiered royalties on net sales of each product resulting from the collaboration.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:01 pm

GLPG

BridGene Biosciences has entered into a strategic collaboration with Galapagos NV to discover small molecule drugs aimed at oncology targets. The partnership leverages BridGene's proprietary chemoproteomics platform to identify drug candidates that can modulate difficult-to-drug targets, potentially advancing cancer treatment options.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:00 pm

DIS

Aaron Rodgers made allegations on 'The Pat McAfee Show' suggesting Jimmy Kimmel is connected to Jeffrey Epstein, which Kimmel strongly denied and threatened legal action. The Walt Disney Company (NYSE:DIS), which owns both 'The Pat McAfee Show' and 'Jimmy Kimmel Live', is caught in the middle of the feud. McAfee apologized for the show's involvement, and the situation could affect Rodgers' future appearances on the show.

Portfolio Pulse from Chris Katje

January 03, 2024 | 8:34 pm

JNPR

Juniper Networks, Inc. (NYSE:JNPR) stock has risen approximately 20% since hitting a 52-week low in October, outperforming the market even during broader U.S. market sell-offs. The company has made significant strides by deploying its solutions with Digital Edge, the City of Las Vegas, and Arirang TV. On Wednesday, JNPR shares increased over 3% despite a market pullback.

Portfolio Pulse from Ryan Gustafson

January 03, 2024 | 8:30 pm

AMZN

NFLX

BofA analyst Justin Post maintains a Buy rating on Amazon (NASDAQ:AMZN) with a $168 price target, expecting ad revenue growth to significantly contribute to margin expansion in 2024. Amazon's ad strategies, including Prime Video ads and new ad partnerships, are anticipated to drive this growth. The analyst projects a 370 bps contribution to FY23 North America margins from ad revenues and sees potential for Amazon's retail margins to grow significantly. Amazon's deals with Pinterest, Meta, and Snap are also expected to enhance ad performance and revenues. The analyst forecasts FY23 revenue and EPS of $570.67 billion and $4.72, respectively.

Portfolio Pulse from Anusuya Lahiri

January 03, 2024 | 7:51 pm

NVS

Novartis shares are up following the announcement of a collaboration and license agreement with Voyager Therapeutics for gene therapies targeting Huntington's disease and spinal muscular atrophy.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:48 pm

CRNC

MSFT

Cerence Inc (CRNC) and Microsoft Corp (MSFT) have partnered to integrate Cerence's automotive technology with Microsoft Azure AI Services, including an automotive-grade version of OpenAI's ChatGPT model. This collaboration aims to enhance in-car experiences through voice and touch interfaces, leveraging Cerence's transportation expertise and Microsoft's cloud and AI capabilities. Cerence plans to use its Cerence Assistant platform to implement these advancements in new vehicles, offering continuous updates via Azure. CRNC shares dropped by 3.07% to $18.50 recently.

Portfolio Pulse from Anusuya Lahiri

January 03, 2024 | 7:42 pm

CMCSA

LGF

MSFT

NTDOY

TTWO

WBD

Jack Black, known for voicing Bowser in 'The Super Mario Bros. Movie', has joined the cast of the 'Minecraft' movie, produced by Vertigo, Legendary, and Warner Bros. Discovery (WBD). The film, set for release on April 4, 2025, also stars Jason Momoa and is directed by Jared Hess. Black is also involved in 'Borderlands', a Lions Gate Entertainment (LGF) film based on the Take-Two Interactive Software (TTWO) game. 'Super Mario', produced by Nintendo (NTDOY) and Universal Pictures (CMCSA), was a major hit. Microsoft (MSFT) acquired Mojang, the studio behind 'Minecraft', which continues to grow in popularity.

Portfolio Pulse from Chris Katje

January 03, 2024 | 7:16 pm

ABVC

ABVC BioPharma's stock is trading higher following the receipt of a milestone payment of 46 million shares from AiBtl BioPharma as part of a global licensing agreement.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 6:23 pm