Vir Biotechnology and Astellas Pharma have entered a licensing agreement to co-develop VIR-5500, an experimental prostate cancer treatment currently in early-stage trials. The deal provides Vir with $335 million in upfront and near-term capital, signaling a major push into the competitive field of T-cell engager therapies.
Tectonic Therapeutic has appointed François Nader as chair and independent director of its board, effective April 1, as the clinical-stage biotech firm prepares for its next phase of growth.
AeroVironment announced Monday that Chief Financial Officer Kevin McDonnell will retire on July 31, concluding a six-year tenure at the defense technology firm. The company has initiated a search for a successor, with McDonnell committed to overseeing a smooth transition of the finance department.
Westlake Corp. announced Monday that longtime Chief Financial Officer Steven Bender will retire after nearly 20 years at the petrochemicals manufacturer. Bender, who has served as finance chief since 2007, will remain in his position until a successor is appointed to ensure a stable leadership transition.
The right-wing One Nation party has overtaken major political forces in New South Wales, securing 30% support in the latest Roy Morgan poll just one year ahead of the state election. With the governing Labor Party trailing at 25% and the Liberal-National coalition at 19%, the results signal a profound shift in Australia's most populous state following a period of heightened national tension.
Vir Biotechnology shares skyrocketed on Monday following a $335 million licensing agreement, while Diamondback Energy and Whirlpool faced after-hours declines amid falling oil prices and debt restructuring efforts.
MacroGenics has paused enrollment in its Phase 2 study of lorigerlimab after the U.S. Food and Drug Administration (FDA) placed a clinical hold on the trial due to severe safety concerns. The Rockville, Maryland-based biopharmaceutical company halted the study, which targets gynecological cancers, after reporting serious adverse events in four participants.
Better Home & Finance Holding Company has entered a strategic partnership with Framework Ventures to integrate its mortgage lending operations into the Sky decentralized finance ecosystem. The deal aims to deploy $500 million in credit, marking a significant bridge between traditional home equity markets and blockchain-based capital.
Haemonetics has received FDA 510(k) clearance for its NexSys PCS system featuring Persona PLUS technology, a software-driven upgrade designed to maximize donation volumes and improve efficiency for plasma collectors.
Diamondback Energy reported a significant fourth-quarter loss on Monday, driven by a multibillion-dollar write-down of asset values as crude prices retreated. The Midland, Texas-based producer swung to a net loss of $1.46 billion, or $5.11 per share, a sharp reversal from the $1.07 billion profit recorded during the same period last year.
Diamondback Energy reported a $1.46 billion net loss for the fourth quarter, missing analyst earnings estimates as the Texas-based producer navigates a "yellow light" macroeconomic environment defined by global oversupply.
Kratos Defense & Security Solutions reported fourth-quarter results on Monday that exceeded Wall Street expectations, fueled by a 22% revenue surge in its government solutions division. The contractor posted adjusted earnings of 18 cents per share on revenue of $345.1 million, outperforming analyst forecasts despite looming headwinds from federal budget delays.
Utility providers across New York and New Jersey are making headway in restoring electricity to thousands of households after a severe winter storm battered the Northeast with blizzard conditions and high winds.
GSK has renewed its strategic manufacturing partnership with Bora Pharmaceuticals for an additional five years, solidifying a supply chain that spans North America. The agreement extends a relationship established in 2020, ensuring the continued production of over 20 commercial products while granting the British drugmaker access to Bora’s expanding facility network.
Home Depot is expected to report a decline in fourth-quarter revenue and earnings on Tuesday, as high mortgage rates and economic uncertainty continue to stifle the home-improvement sector. Analysts surveyed by FactSet project a contraction in both top- and bottom-line figures, marking a cautious end to the fiscal year for the retail giant.
Bayer has filed a lawsuit against Johnson & Johnson and its Janssen Biotech unit, alleging the pharmaceutical giant used deceptive marketing to promote its prostate cancer treatment, Erleada. The legal challenge disputes J&J's claims that its drug is superior to Bayer’s competing therapy, Nubeqa, marking a significant escalation in the competition for dominance in the oncology sector.
Amazon is pouring $12 billion into northwest Louisiana to develop a massive network of data-center campuses, a move designed to bolster its artificial intelligence and cloud computing infrastructure. The investment, announced Monday, marks a significant expansion for the tech giant in the South, aiming to drive regional economic growth through infrastructure upgrades and job creation.
Wheat prices on the Chicago Board of Trade dropped on Monday as favorable weather forecasts for the U.S. and Russia mitigated supply fears, while corn futures found modest support from a surge in export inspections and shifting fund positions.
Bayer has filed a lawsuit against Johnson & Johnson and its Janssen Biotech unit, alleging that marketing claims for the prostate-cancer drug Erleada are based on "scientifically flawed" data. The litigation contests J&J’s recent assertions that its treatment is significantly more effective than Bayer’s rival drug, Nubeqa.
A powerful winter storm packing heavy snow and high winds knocked out electricity for more than 289,000 utility customers across Massachusetts on Monday, with coastal regions bearing the brunt of the damage.
Loblaw Cos. is accelerating its shift toward value-based retail, announcing a C$2.4 billion investment to open 31 new discount grocery stores and renovate hundreds of existing locations across Canada. The expansion targets a consumer base increasingly strained by food prices that have surged more than 30% since 2019, according to industry data.
Toronto stocks retreated on Monday as anxieties surrounding global trade and the artificial intelligence sector weighed on tech shares, even as a high-stakes bidding war for Colombian energy assets sent Frontera Energy soaring.
Diesel futures rallied on Monday as a severe blizzard across the U.S. Northeast hampered logistics and boosted heating demand, while crude oil and gasoline markets remained largely flat ahead of key contract expirations.
A severe winter storm forced a suspension of vessel boardings across the U.S. Northeast on Monday, stalling critical fuel shipments to ports in New York, Connecticut, and Massachusetts. Maritime pilots in the region halted operations as heavy weather conditions made navigation unsafe, leaving several tankers carrying gasoline and distillates idling off the coast.
Specialty chemical manufacturer Stepan announced a sweeping operational restructuring dubbed "Project Catalyst" on Monday, involving facility closures and asset decommissioning aimed at securing $100 million in pre-tax savings over the next two years. The news triggered a 20% sell-off in the company's stock, marking its sharpest single-day decline in nearly six years as investors weighed heavy restructuring costs against softening demand.
U.S. corn export inspections surged to over 2 million metric tons for the week ended Feb. 19, significantly outpacing both previous-week and prior-year levels, according to data released Monday by the U.S. Department of Agriculture.
Shares of Frontera Energy surged more than 20% on Monday after Parex Resources submitted a $500 million cash bid for its Colombian upstream operations. The proposal significantly outsteps a previous agreement with GeoPark, offering a $125 million premium and signaling a potential bidding war for the region's oil-and-gas assets.
ImmunityBio shares rallied on Monday after the immunotherapy firm reported fourth-quarter revenue that surpassed Wall Street estimates, driven by the rapid commercial adoption of its flagship drug, Anktiva.
Lundin Gold shares surged nearly 6% on Monday following the announcement of a $670 million silver stream-for-equity agreement with LunR Royalties. The deal allows the Canadian miner to monetize silver production at its flagship Fruta del Norte mine in Ecuador while taking a significant stake in a newly formed royalty vehicle.
Atomera shares plunged 12% after the technology licensing firm announced a registered direct offering of 5 million shares priced at a significant discount to its current market value.
