Streetbeat News

Partnerships

ACIU

AC Immune shares surged following the announcement of their Q1 financial results and the signing of an exclusive option and license agreement with Takeda for an Alzheimer's disease immunotherapy targeting amyloid beta.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:45 am

LILM

Lilium N.V. (NASDAQ:LILM), an eVTOL jet developer, is in advanced discussions with the French government to expand its high-volume production in France, including potential government subsidies and loan guarantees. The talks, announced at the Choose France Summit, focus on establishing facilities in regions known for aerospace and battery production, with a possible investment of up to €400 million and the creation of up to 850 jobs.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:02 am

AADR

E

IDGT

Eni S.p.A. (NYSE:E) is planning to spin-off interests in high-potential oil and gas projects to finance its shift towards low-carbon activities. This move is part of CEO Claudio Descalzi's strategy to separate some of Eni's operations into distinct entities, attracting investment from private equity and infrastructure funds. The company recently agreed to combine most of its UK upstream assets with Ithaca Energy plc for a 38.5% stake and aims to sell minority stakes in its biofuel and bio-plastic units, expecting to raise EUR1.3 billion. Exposure to Eni's stock can be gained through Pacer Developed Markets International Cash Cows 100 ETF (NYSE:IDGT) and AdvisorShares Dorsey Wright ADR ETF (NASDAQ:AADR).

Portfolio Pulse from Lekha Gupta

May 13, 2024 | 10:53 am

ACIU

AC Immune reported a cash balance of CHF 104.8M at the end of Q1 and expects a three-year cash runway. This is bolstered by a $100M upfront payment from Takeda and an anticipated CHF 25M milestone related to ACI-35.030.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:14 am

LEVI

LVLU

Lulu's Fashion Lounge Holdings, Inc. (LVLU) has announced an extended partnership with Levi Strauss & Co. (LEVI) to offer a curated selection of Levi's denim products online at lulus.com and in Lulus stores. The collection, named Lulus Loves: Levi's, includes a variety of denim items aimed at enhancing the shopping experience for Lulus' customers.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:08 am

ACIU

TAK

AC Immune and Takeda have entered into an exclusive option and license agreement focusing on the development of an active immunotherapy targeting amyloid beta for Alzheimer's disease. AC Immune will receive an upfront payment of $100 million and could receive up to approximately $2.1 billion in milestone payments.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:06 am

FULC

SNY

Fulcrum Therapeutics has entered into a licensing agreement with Sanofi for the commercialization of losmapimod, a treatment for Facioscapulohumeral Muscular Dystrophy. Fulcrum will receive an $80M upfront payment and could receive up to $975M in milestones. Sanofi gets exclusive rights outside the U.S., while Fulcrum retains U.S. rights.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:04 am

WTW

WTW has partnered with Ukrainian insurer VUSO to launch a London market backed facility offering war risk insurance for cargo within Ukraine. This facility, a market first, aims to provide certainty to both Ukrainian and foreign enterprises moving goods overland in Ukraine. The insurance covers cargo and war-on-land risks, operational immediately through VUSO or WTW Ukraine.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:52 am

AAPL

Apple Inc. has seen a significant increase in iPhone exports from India, with April figures nearly doubling to $1.1 billion from $580 million the previous year. This growth could position India as Apple's second-largest iPhone manufacturing hub after China. Currently, 14-15% of Apple's total iPhone production is in India, with projections to rise to 26% by 2026. Apple's production in India for FY2024 reached $14 billion, with exports over $10 billion, marking the highest annual export value by any company in India. Apple's contract manufacturers in India, including Foxconn, Wistron (now owned by Tata Group), and Pegatron (in talks for a majority stake sale to Tata), benefit from India's production-linked incentive (PLI) scheme. Apple's market presence in India is also growing, with a 38% YoY growth and aims to increase its local market share.

Portfolio Pulse from Shomik Sen Bhattacharjee

May 13, 2024 | 9:37 am

NVDA

RXRX

Recursion (NASDAQ:RXRX) has completed its NVIDIA-powered AI supercomputer, BioHive-2, featuring 63 DGX H100 systems and 504 NVIDIA H100 Tensor Core GPUs. This supercomputer is four times faster than its predecessor, BioHive-1, making it the fastest supercomputer owned by a pharmaceutical company globally.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:12 am