logo
  

Will This News Move These Stocks Today?

stock market 012714 09jul18

Buyback

Anadarko Petroleum Corp. (APC) is boosting its share-buyback by $1 billion, and debt-reduction program by $500 million, raising its total spend on the equity and debt buyback programs to $5.5 billion. The buyback authorization extends through the end of June, 2019.

Asset Acquisition

Clinical-stage oncology drug developer MabVax Therapeutics Holdings, Inc. (MBVX), said family-owned pharma company Boehringer Ingelheim has acquired all rights in and to its program targeting a glycan commonly over-expressed on multiple solid tumor cancers. In return, MabVax will receive US $11 million in upfront and near-term milestones as well as downstream regulatory milestone payments, plus further earn-out payments. MabVax added that this asset acquisition is separate and distinct from its other programs under development.

Potential catalyst

The FDA is scheduled to make an approval decision in July or August on Elagolix, a drug for treating endometriosis-associated pain. Elagolix was originally developed by Neurocrine Biosciences (NBIX), which licensed the drug to AbbVie seven years ago. An approval would mean milestone payments and sales royalties to Neurocrine Biosciences, which currently has just one approved drug on the market.

Investment

Online luxury fashion retailer Secoo Holding Ltd. (SECO) to receive a $175 million investment from Private equity firm L Catterton Asia, and Chinese retailer JD.com, Inc. (JD).

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Weis Markets, Inc., a Mid Atlantic food retailer, has recalled 108 containers of Weis Quality Sea Salt Caramel Ripple Ice Cream citing possible presence of undeclared soy and coconut allergens, the U.S. Food and Drug Administration said. The recalled product comes in 48oz containers that says Weis Quality Sea Salt Caramel Ripple Ice Cream, while the lid says Weis Quality Caramel Caribou Ice Cream Amazon.com Inc. plans to spend more than $1 billion annually to produce movies that will get a theatrical release, Bloomberg reported, citing people familiar with the matter. The online retailer giant, which acquired movie maker MGM Studios earlier this year for $8.45 billion, is likely to produce between 12 and 15 movies each year for movie theaters. New York-based Bentex Group has recalled various children's clothing sets due to violation of the federal lead paint and lead content ban, as well as lead poisoning risk, the U.S. Consumer Product Safety Commission said. The recall involves about 87,000 units of Bentex children's clothing sets in nine different Disney themed styles.
Follow RTT