Streetbeat News

Partnerships

BLK

BTF

COIN

Valkyrie has resubmitted an application for a Bitcoin ETF after the SEC deemed the initial documents inadequate. The firm revealed that Coinbase Global Inc. would offer market surveillance for its proposed Bitcoin fund. The documents also reveal that Nasdaq, where Valkyrie plans to list if approved, had executed a term sheet with Coinbase. This follows BlackRock's filing for a similar ETF in mid-June, which triggered a rush among other issuers to file similar applications and ignited a broader rally for cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

July 05, 2023 | 7:24 pm

AMZN

SPY

Blue Origin, Jeff Bezos' space company, is planning to expand into international markets and is considering a launch site outside the US. The company is also seeking partnerships and acquisitions in Europe and beyond to grow its launch and space services businesses. Europe's imminent retirement of the Ariane 5 rocket and the implosion of Virgin Orbit could provide opportunities for Blue Origin. The company is also considering opportunities in the Middle East. Blue Origin has struggled to compete with Rocket Lab and SpaceX, but is developing a fully reusable heavy-lift orbital rocket called New Glenn.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 7:12 pm

SF

Stifel has released a note stating that Rivada has received a waiver from the International Telecommunication Union (ITU) for its Low Earth Orbit (LEO) constellation. This allows Rivada to proceed with its second milestone of deploying 300 satellites.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 7:09 pm

USO

OPEC is reportedly in discussions with Azerbaijan, Malaysia, Brunei, and Mexico about potential membership. The news was announced by the OPEC Secretary General and reported by the UAE State News Agency.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 5:47 pm

ATAI

CMPS

HTGC

COMPASS Pathways (NASDAQ:CMPS) has secured a term loan agreement with Hercules Capital Inc. (NYSE:HTGC) for up to $50 million to fund its COMP360 Phase 3 program in Treatment-Resistant Depression (TRD). The initial data from the program is expected by summer 2024. Following the agreement, COMPASS drew an initial $30 million at closing on June 30. The remaining $20 million will be available in two tranches, subject to certain conditions. Hercules Capital had previously entered into a similar agreement with COMPASS’ partner, atai Life Sciences (NASDAQ:ATAI).

Portfolio Pulse from Lara Goldstein

July 05, 2023 | 5:20 pm

MRNA

Moderna Inc (NASDAQ:MRNA) has reportedly signed a deal with Chinese authorities to research, develop, and manufacture mRNA medicines in China. This agreement represents Moderna's first for developing mRNA medicines, not just COVID vaccines. The company has signed a memorandum of understanding and a related land collaboration agreement to develop drugs intended exclusively for the Chinese market. The size of the deal remains undisclosed, but it follows news that Moderna is planning its first investment in China, potentially valued at around $1 billion.

Portfolio Pulse from Vandana Singh

July 05, 2023 | 5:06 pm

SNY

Adocia has granted Sanofi an exclusive right to negotiate a partnership on M1pram for €10M. In addition, Adocia has secured a commitment from investors to provide €10M in financing. Sanofi has paid Adocia €10M in exchange for this exclusive negotiation right on the M1pram product.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 4:34 pm

GOOG

GOOGL

RXT

Rackspace Technology has announced a new partnership with C2C Global, the largest worldwide community of Google Cloud users. Rackspace Technology, a leading end-to-end, multicloud technology solutions company, is Google Cloud's first managed services partner. The company recently expanded its partnership with Google Cloud to offer generative AI services and solutions. The partnership with C2C Global aims to increase Rackspace's brand visibility and highlight its successful customer stories.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 3:35 pm

STLA

Stellantis CEO has stated that a total decoupling from China is neither realistic nor in the interest of the Western world. The company is not at war with any Chinese supplier, but rather collaborating with them.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 3:32 pm

STLA

Stellantis CEO has stated that the relationships with the governments in France and Italy are well intended, despite occasional pressure. The company plans to keep high-value cars in high-cost countries to balance affordability for customers and profitability.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 3:31 pm