Month: June 2020

Inovio Pharmaceuticals (INO) has now initiated legal proceedings as an emergency action to compel the technology transfer required for the planned large-scale manufacture of its COVID-19 vaccine candidate.The company has an ambitious goal of producing one million doses of INO-4800 by the end of 2020, with its existing capacity and contract resources, for further clinical trials or emergency use.To fulfil this goal, INO has filed a complaint in Pennsylvania to compel VGXI, Inc. and GeneOne Life Science to facilitate the transfer of manufacturing methods, using VGXI’s technology, to the company’s new engaged contract manufacturers.“The Company believes that widespread availability of …read more […]

LVMH, the luxury goods giant, rules out buying the jeweller’s shares to get it on the cheap. …read more […]

British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come a week after Aston Martin confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. Aston Martin, famed for being fictional secret agent James Bond’s car of choice, has seen its share price plummet since floating in October 2018. …read more […]

Billionaire investor Dan Loeb’s Third Point LLC fund has Boeing Co (BA) listed among its top winners in May sending shares in the ailing planemaker up 13% on Wednesday.The stock help up its gains on Wednesday even after Loeb told CNBC that he bought Boeing debt and not stock, reversing earlier market rumors that the fund entered into an equity position. The planemaker is joined by the likes of Walt Disney (DIS) and Burlington Stores Inc. on the investor’s list of top winners in May. The hedge fund returned 1.6% on its investments in May after 7.1% a month earlier.In …read more […]

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Shares in Elastic NV (ESTC) fell 7% in after-hours trading on Wednesday after the company reported strong fiscal fourth quarter results, but disappointed with weak guidance.Specifically, Q4 Non-GAAP EPS of -$0.12 beat consensus estimates by $0.19 while GAAP EPS of -$0.38 came in $0.15 above expectations. Revenue of $123.62M surged 53.4% year-over-year thanks to better execution and broad product traction, and beat Street estimates by $6.47M.However, FY21 guidance was below consensus taking into account expected (not yet witnessed) macro headwinds. Total revenue is expected to be between $530 million and $540 million (vs consensus of $561.3M), with non-GAAP operating margin …read more […]

Oil prices dropped on Thursday, reversing gains in the previous session, on concern over whether major crude producers will be able to agree to extend record output cuts, heightened by worries over a huge build in U.S. distillate inventories. Brent crude futures fell 1.18%, or 47 cents, to $39.32 a barrel as of 0652 GMT, while U.S. West Texas Intermediate (WTI) crude futures slid 1.80%, or 67 cents, to $36.62 a barrel. Saudi Arabia and Russia, two of the world’s biggest oil producers, have agreed to support extending into July the 9.7 million barrels per day (bpd) in …read more […]