Enovix shrinks quarterly loss, vows to cut costs as battery maker’s stock soars 20%
Battery maker also announces deal with unnamed smartphone maker
Battery maker also announces deal with unnamed smartphone maker
Market move ‘smells like intervention,’ strategist says
Shares of GameStop Corp. Cl A GME, -1.62% shed 1.62% to $10.91 Wednesday, on what proved to be an all-around mixed trading session for the stock market, with the Dow Jones Industrial Average DJIA, +0.23% rising 0.23% to 37,903.29 and the S&P 500 Index SPX, -0.34% falling 0.34% to 5,018.39.
Company gives upbeat forecast at the midpoint
Last year was rocky for a number of the first AI-based biotechs that entered the clinic, including BenevolentAI. But a new year spells new hope and the company has a fresh captain to try and steady the ship.
Kronos Bio had already trimmed back its headcount and pipeline in the wake of a mid-stage cancer flop. Now, it’s the company’s C-suite who are heading to the exits.
The winding journey of Annovis Bio’s potential Parkinson’s disease therapy through the clinic isn’t over quite yet, with the biotech revealing today that much-anticipated phase 3 data won’t be published this month as planned.
Genome & Co. has shared data from a midphase trial testing its bacterial strain in combination with a checkpoint inhibitor. The readout encouraged the biotech to plan further clinical studies to validate the combination as a third-line treatment.
In a move that will be seized on as a sign that the IPO window is reopening in 2023, CG Oncology has not only become the first biotech to go public this year but overshot its own estimates.
While many companies have spent the years since the COVID-19 pandemic began just hoping to get back on track with the way things were before, Abbott has devised its own definition of the “new normal.”