Multinational science and technology company Merck KGgA announced on Monday that it has closed a deal with Swiss biotech company Debiopharm to develop and market its Xevinapant drug for head and neck cancer. The deal is estimated to be worth 900 million euros ($1.08 billion).
The terms of the deal...
After 33 years of operational difficulties, American vaccine development company Novavax has finally received approval for its COVID-19 vaccine shot. According to testing results, the Novavax vaccine has efficacy rates that are of a similar level to the vaccines developed by Pfizer and BioNTech as well as Moderna.
As the...
Johnson & Johnson's single-dose coronavirus shot recently received emergency use approval from the U.S. Food and Drug Administration on Saturday evening, making it the third COVID vaccine available for use in the United States.
Following the conclusion of early-phase clinical trials, the pharmaceutical giant submitted data regarding its results to...
Chinese electric vehicle manufacturer Li Auto (LI) reported an unexpected profit for Q4 of 2020 on Thursday, sending the auto manufacturing company's stock up by 1% to 28.98 in premarket trading. This movement is in stark contrast to the stock slump that Li was expected to incur.
While analysts expected...
Moderna shares gained 2.2% during premarket trading on Thursday as the biotech company reported a revenue of $570 million during the fourth quarter of 2020. This revenue surge came as a result of skyrocketing sales of the Massachusetts-based company's COVID-19 vaccine, mRNA-1273.
Despite this record-high sales revenue, the biotech firm...
Private equity firm CVC Capital Partners is currently exploring a bid for UK chemical manufacturer Synthomer Plc, according to reports. The Luxembourg-based CVC currently manages approximately $111 billion in secured commitments of private equity, credit, and growth funds across Asia and Europe.
According to insiders who asked to remain anonymous,...
California-based EV company Lucid Motors and blank check company Churchill Capital IV (CCIV) completed a merger deal on Monday night. With the deal under wraps, the EV company is one step closer to realizing its goal of going public. Churchill Capital IV shares declined by 30% following the announcement.
As...
Aerostructures manufacturer Spirit AeroSystems Holdings posted a quarterly loss on Tuesday, proving to be yet another aircraft manufacturer that has been hit by the slump in air travel caused by the COVID-19 pandemic. The company explained in a statement that this loss resulted directly from the reduction in aircraft...
Sanofi and GlaxoSmithKline Plc have resumed trials for their joint COVID-19 vaccine candidate. After being faced with setbacks during their previous trials in the fall, these pharmaceutical manufacturers have improved their shot's formulation. According to a statement on Monday, this was done to improve effectiveness in people 50 years...
Amazon founder Jeff Bezos has reclaimed the title of the world's richest person this week, unseating Tesla and SpaceX pioneer Elon Musk. This comes after Tesla Inc. stocks slipped by 2.4% during Tuesday's trading.
Having help at the top spot for six weeks, Elon Musk lost approximately $4.5 billion as...