DENVER, Colo., December 9, 2019- (24/7MarketNews via COMTEX) Venture Market News for December 9, 2019.
As the US-China trade talks may continue to try to take up all the air in the room, biotech M&A activity is quietly picking up, with two high premium acquisitions in the spce.
Sanofi, a leading French pharmaceutical firm, is purchasing Synthorx (NASDAQ:THOR) for about $2.5 billion in cash, or $68 per share. Sanofi was will to pay a little more than 170% premium to the Friday, December 6, 2019 closing price, to help strengthen its immuno-oncology pipeline and the transaction has been unanimously approved by both companies’ Boards of Directors.
Merck & Co (NYSE:MRK) announced that it is acquiring ArQule (NASDAQ:ARQL), the US based cancer drug developer, for $2.7 billion, to help strengthen its oncology pipeline. The $20 per share, in cash, offer is more than a 100% over the Friday, December 6, 2019 closing price.
Kraig Biocraft Laboratories Strengthens its Suberfiber Development abilities
Kraig Biocraft Laboratories, Inc. (OTCQB: KBLB) announced today that, as its advancing the commercialization of its current suite of fiber technologies, its R&D team is expanding their suberfiber development abilities. These new protein designs, which have been synthesized and are already in the Company’s labs, have the potential to create new materials and open additional markets for the Company’s recombinant silk technologies.
“The R&D team employed its new “mix and match” assembly system, which allows for accelerated development and performance experimentation, to design the new DNA domains to integrate with the Company’s existing DNA constructs. This approach allows the Company to produce a fiber containing a blend of current technologies with new DNA constructs to form an array of new tailored materials.”
The earnings report that may have the biggest impact on the venture markets is Canopy Growth, which reports before the Thursday, Nov. 14, market open. Cronos’ and Tilray’s earnings were a mixed bag, so a good earnings call from Canopy Growth, would likely positively impact the leading venture market cannabis/hemp listings, like KushCo, Acreage Holdings, and Curaleaf.
Charlottes Web helped its cause by announcing, this morning, that it knocked it out of the park, with a 41.8% organic consolidated, year-over-year, revenue growth rate.
It produced $17.9 million gross profit on $25.1 million in revenues, with a 38.7% increase in Business-to-Consumer ecommerce sales and 66.4% Business-to-Business growth.
This is shaping up to be a buckle up and hold on week.
Connect with 24/7 Market News on social media:
About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN provides comprehensive corporate communications resources and tools to engage the investment community.
24/7 Market News (24/7MN) is a third party publisher and news dissemination service provider that produces regular sponsored and non-sponsored reports, articles, stock market blogs, and newsletters covering equities listed on the NYSE, NASDAQ and micro-cap exchanges. 24/7MN holds no investment licenses and is NOT a financial advisory firm, investment adviser, analyst, or broker-dealer and does not undertake any activities that would require such registration. 24/7MN’s market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities.
The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and based on publicly available information which is believed to be reliable. 24/7MN owns KBLB shares that it will sell. 24/7MN makes no representations as to the completeness, accuracy, or timeliness of the material provided and all materials are subject to change without notice. 24/7MN and/or its affiliates are not responsible for any gains or losses that result from the opinions expressed and are not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks.
For further information on 24/7 Market News, please go to www.247marketnews.com
This release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan,” or “planned,” “will,” or “should,” “expected,” “anticipates,” “draft,” “eventually,” or “projected.” You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company’s annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and 24/7MN undertakes no obligation to update such statements
24/7 Market News