ADVFN US – Market Content Editor
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BioAffinity shares rise as CyPath Lung growth boosts optimism
Shares of bioAffinity Technologies Inc. (NASDAQ:BIAF) climbed about 19% as investors reacted to developments surrounding the company’s lung cancer diagnostic platform. The company reported strong momentum for CyPath Lung, its non-invasive lung cancer detection test. Revenue from the product increased 87%, while test volumes rose 99% year over year, reflecting accelerating adoption. Based on current…
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Tower Semiconductor to gain full control of Japan 300mm facility in restructuring deal
Tower Semiconductor (NASDAQ:TSEM) said it will restructure its operations in Japan in a move that will give the company full ownership of a 300mm fabrication plant, while its partner assumes control of a 200mm facility. The company’s shares have risen sharply in recent days, climbing about 27% over the past week to $180.82, near their…
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Sturm Ruger shares rise after Beretta proposes tender offer
Shares of Sturm, Ruger & Company (NYSE:RGR) climbed about 5% on Wednesday after Beretta Holding S.A. revealed plans to launch a tender offer for up to 20.05% of the company’s shares at $44.80 per share. Ruger stock had closed Tuesday at $40.74. The Italian firearms manufacturer said the proposal is part of a broader effort…
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PDD shares swing as fourth-quarter revenue roughly meets forecasts
Shares of PDD Holdings (NASDAQ:PDD) traded erratically on Wednesday after the company reported fourth-quarter revenue that largely aligned with market expectations, while earnings declined compared with the previous year. The Chinese e-commerce group generated revenue of 123.91 billion yuan ($17.96 billion) for the quarter ended December 31, slightly below the 124.4 billion yuan average estimate…
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Maze Therapeutics shares surge after positive Phase 2 data for MZE829
Maze Therapeutics Inc. (NASDAQ:MAZE) reported a fourth-quarter loss of $0.65 per share on Wednesday, while also announcing encouraging results from a Phase 2 clinical trial of its lead drug candidate MZE829. The company’s shares jumped 22.18% in pre-market trading following the release of the trial update. The clinical-stage biopharmaceutical firm generated no revenue in the…
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Local Bounti shares slip after wider loss despite revenue growth
Shares of Local Bounti Corporation (NYSE:LOCL) declined more than 2% in after-hours trading on Wednesday after the company reported fourth-quarter results that included solid revenue growth but a larger-than-expected loss. The indoor agriculture company generated fourth-quarter revenue of $12.5 million, representing a 24% increase from $10.1 million in the same period a year earlier. The…
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Liberty Energy shares decline following announcement of convertible notes offering
Shares of Liberty Energy Inc. (NYSE:LBRT) dropped about 5.75% on Wednesday after the company revealed plans to issue $450 million in convertible senior notes. The oilfield services provider said the notes, which will mature in 2032, will be offered through a private placement to qualified institutional buyers. Liberty also expects to give the initial purchasers…
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BrightView grows sports and golf maintenance portfolio with new projects
BrightView (NYSE:BV) announced an expansion of its sports field and golf course maintenance operations, pointing to a series of recent projects at prominent venues and major sporting events in the United States and abroad. The commercial landscaping provider serves as the Official Field Consultant of Major League Baseball and has supported more than 200 international…
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Anavex withdraws EU marketing application for Alzheimer’s therapy blarcamesine
Anavex Life Sciences Corp. (NASDAQ:AVXL) has withdrawn its application for European Union marketing authorization for blarcamesine as an add-on treatment for early Alzheimer’s disease. The decision follows feedback from the European Medicines Agency’s Committee for Medicinal Products for Human Use (CHMP) indicating that the application was unlikely to receive a favorable opinion. The biotechnology company…
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Enliven Therapeutics shares jump 28% after Merck’s $6.7 billion Terns acquisition announcement
Shares of Enliven Therapeutics (NASDAQ:ELVN) climbed 28% on Wednesday following news that Merck (NYSE:MRK) plans to acquire oncology-focused Terns Pharmaceuticals in a $6.7 billion transaction. Maze Therapeutics (NASDAQ:MAZE) also moved higher, rising about 10%. Merck announced Wednesday that it will purchase clinical-stage oncology company Terns Pharmaceuticals for $53.00 per share in cash, valuing the company’s…