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Amgen's Huge Healthcare Merger
Investors should keep an eye on Amgen (Nasdaq: AMGN) as the biopharmaceutical company reportedly completes one of the biggest acquisitions of the year.
Details: According to The Wall Street Journal on Sunday, Amgen is in advanced talks to acquire Horizon Therapeutics (Nasdaq: HZNP). The report said that the deal could be finalized as soon as today. Both Horizon Therapeutics and Amgen have not commented yet.
Latest Development: Janssen pulled out of the deal last week. Sanofi said on Sunday that it is no longer in discussions to acquire Horizon Therapeutics.
Big Picture: With a price tag of $20 billion, this would be the largest healthcare merger of the year.
Stock price: Amgen’s stock is up 22% this year, while Horizon Therapeutics is down 9%.
Final Thoughts: Overall, healthcare has been one of the worst sectors in the stock market in 2022. This deal could be a boost to the industry, especially if the sector hopes to turn things around in 2023.
Notable Earnings Today: Oracle (NYSE: ORCL), Universal Technical Institute (NYSE; UTI), Coupa Software (Nasdaq: COUP), Dynagas LNG Partners (NYSE: DLNG), Fluence Energy (Nasdaq: FLNC), Inotiv (Nasdaq: NOTV), JOANN (Nasdaq: JOANN), Blue Bird (Nasdaq: BLBD), Mesa Air Group (Nasdaq: MESA), MamaMancini’s Holdings (Nasdaq: MMB).
Notable IPOs Today: Cabana Target Drawdown 5 ETF (Nasdaq: TDSA), Cabana Target Drawdown 7 ETF (Nasdaq: TDSB), Cabana Target Drawdown 10 ETF (Nasdaq: TDSC), Cabana Target Drawdown 13 ETF (Nasdaq: TDSD), Cabana Target Drawdown 16 ETF (Nasdaq: TDSE), Cabana Target Leading Sector Conservative ETF (Nasdaq: CLSC), Cabana Target Leading Sector Aggressive ETF (Nasdaq: CLSA), Cabana Target Leading Sector Moderate ETF (Nasdaq: CLSM).
Notable Equity Crowdfunding Campaigns Ending Today: 3 Sisters Garlic (SMBX).
Notable Economic Events Today: Federal Budget Balance (2:00 p.m. ET).
ApeCoin Surges Thanks to Binance NFT
Catalyst: The Binance NFT Marketplace is launching its Ape NFT (non-fungible token) Staking Program today. This program, announced last week, will help users in the ApeCoin community earn daily rewards. It was presumed that this was part of the reason why ApeCoin jumped on Sunday.
Final Thoughts: Similar to other cryptos, it's been a bad year for ApeCoin, which lost most of its value this year.
Equity Crowdfunding Spotlight: NovaSX
Briefly describe your business. NovaXS is developing a patient-centric closed-loop drug delivery platform to improve treatment compliance and outcomes.
What are the terms of the investment for your campaign? The term is a $14M pre-money safe with a 20% discount. See Republic for more details.
What makes your startup special? NovaXS is backed by Baxter and institutional VCs which provide us with incredible access to the healthcare industry and our management team has a proven record of commercializing innovative technologies.
Trends to Watch
Why on Earth: Goldman Sachs Is Trying to Make Blockchain Bonds Happen (CoinDesk)
Takeover: Thoma Bravo Is Said in Advanced Talks to Buy Coupa Software (Bloomberg)
Sign of the EV Times: Stellantis to idle Illinois plant, lay off more than 1,000 workers, citing rising costs for EVs (CNN)
Advancement: US scientists boost clean power hopes with fusion energy breakthrough (Financial Times)
Steady: Bitcoin’s boring price action allows XMR, TON, TWT and AXS to gather strength (Cointelegraph)
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