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☆ Investors see a biotech comeback in 2024 as rates fall, deal-making picks up. Stocks to watch
▼ + stars: | 2023-12-28 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +8 min

Many biotech stocks struggled in 2023 despite a robust year for U.S. drug approvals. "We expect this environment to continue but look forward to the prospect of lower interest rates in 2024." When that happens, Canaccord Genuity said to expect a "strong rally across the biotech sector rewarding innovative, but riskier assets." Analysts have said the rich price reflects the opportunity for ImmunoGen's Elahere cancer treatment , which has quickly established itself as the standard of care for types of ovarian cancer. 'Oversold and cheap' In a research note Friday, Jefferies analyst Michael Yee said "a significant short squeeze" was helping biotech stocks in the fourth quarter.

Persons: Dan Lyons, Janus Henderson, John Newman, Canaccord Genuity, Janus, Lyons, Bristol Myers Squibb, Karuna, AstraZeneca, Eli Lilly, AbbVie, Jonathan Miller, Miller, bode, Jonathan Krinsky, Krinsky, BTIG's, Jefferies, Michael Yee, Yee, NASH, Madrigal, we're, David Risinger, — CNBC's Michael Bloom Organizations: Drug, Federal, Bristol Myers, Karuna Therapeutics, CART, Bristol Myers Squibb, Cerevel Therapeutics, Securities and Exchange Commission, pharma, P Biotech, Nasdaq Biotech, Apogee Therapeutics, Madrigal Pharmaceuticals, Madrigal, resmetirom, Vertex Pharmaceuticals, Leerink Partners Locations: ImmunoGen

☆ Palestinian student shot in Vermont paralyzed from the chest down from lodged bullet, mother says
▼ + stars: | 2023-12-03 | by ( Emma Tucker | ) edition.cnn.com time to read: +10 min

CNN —Hisham Awartani, one of the three Palestinian college students who were shot while walking in Vermont over Thanksgiving weekend, is paralyzed from the chest down after a bullet became lodged in his spine, his mother said. Elizabeth Price told CNN on Tuesday her son had an “incomplete spinal injury,” meaning he can feel his legs but can’t move them. Awartani, Abdalhamid and Ahmad have been friends since grade school, Price told CNN on Monday from Ramallah. Abdalhamid told CNN’s Anderson Cooper on Friday he was shot in the back while running away moments after the other two students were shot. “This absolutely was a hateful act,” Murad told CNN Monday.

Persons: CNN — Hisham Awartani, Elizabeth Price, “, Hisham, I’ve, ”, ” Awartani, Tahseen Ali Ahmad, Jon Murad, ” “ Kinnan, Kinnan Abdalhamid, Hisham Awartani, Jason J, Eaton, “ It’s, it’s, ” Price, “ …, Awartani’s, Rich Price, Awartani, Ahmad, Price, Rania, Abdalhamid, CNN’s Anderson Cooper, Al Fayoume, Murad, Erin Burnett, ” Murad, Margaret Jansch, Artemis Moshtaghian, Elizabeth Wolfe, Melissa Alonso, Ray Sanchez, Kaitlan Collins, Laura Coates, Rob Frehse, Polo Sandoval, Celina Tebor, Khalil Abdallah Organizations: CNN, Brown University, West Bank, Haverford College, Trinity College –, Burlington Police, Institute for Middle East, Authorities, Ramallah Friends School, Hamas, Palestinian Studies Locations: Vermont, Burlington, Ramallah, United States, Gaza, “, Plainfield Township , Illinois, Will, Eaton, Israel

Mr. Ali Ahmad, a Trinity College sophomore described as a gifted writer, web designer and conversationalist, was shot in the chest. The homes of Mr. Awartani’s uncle and grandmother in Burlington, a city of 45,000 on the shores of Lake Champlain, had been a welcome refuge. “I think they were really glad to reconnect, and provide each other comfort, after a fraught few weeks,” said Rich Price, Mr. Awartani’s uncle, who hosted the friends for the holiday. “They are normal 20-year-olds, but they’re also extraordinary 20-year-olds,” Mr. Price said. “They have shown remarkable resilience and strength, even humor, and I think being Palestinian in this world demands those traits.

Persons: Awartani, Ali Ahmad, Awartani’s, ”, Rich Price, they’re, ” Mr, Price, “ Organizations: Brown University, Trinity College, West Bank, Quaker Locations: Burlington, Lake Champlain, United States, Ramallah, Israel, Gaza

BURLINGTON, Vt. (AP) — Vigils for three college students of Palestinian descent who were shot in Vermont over the weekend prompted calls for authorities to recognize the violence as a hate crime, and for unity among the Jewish and Arab communities. One vigil was held Monday night at Brown University in Rhode Island, where one of the victims, Hisham Awartani, is a student. Eaton moved to Burlington over the summer from Syracuse, New York, and legally purchased the gun used in the shooting, Murad told reporters. Eaton came to the door holding his hands, palms up, and told the officers he’d been waiting for them. Sarah George, state’s attorney, said that law enforcement officials do not yet have evidence to support a hate crime charge, which under Vermont law must be proven beyond a reasonable doubt.

Persons: Jason J, Eaton, General Merrick Garland, ”, Hisham Awartani, Christina Paxson, Brown, Robert Leikend, “, Awartani, Kinnan, Tahseen Ali Ahmad, Jon Murad, Abdalhamid, Murad, “ I’ve, I’ve, Rich Price, Awartani's, Rania Ma’ayeh, Ali Ahmad, Ma’ayeh, Abdalhamid’s, Radi Tamimi, we’re, he’d, Mary Reed, Matthew Malinowski, Sarah George, Holly Ramer, Kathy McCormack, Lindsay Whitehurst, David Sharp Organizations: U.S . Department of Justice, Hamas, Brown University, American Jewish Committee, NBC News, West Bank, Police, University of Vermont Medical Center, Ramallah Friends School, Haverford College, Trinity College in, Daily, Syracuse, Associated Press Locations: BURLINGTON, Vt, Vermont, Burlington, Israel, Rhode Island, Robert Leikend , New England, “, Ramallah, Brown, Pennsylvania, Trinity College in Connecticut, Syracuse , New York, U.S, Gaza, Concord , New Hampshire, Washington, Portland , Maine

☆ 1 of 3 Palestinian students shot in Vermont may never walk again after bullet hit his spine, his mother says
▼ + stars: | 2023-11-27 | by ( Elizabeth Wolfe | Melissa Alonso | ) edition.cnn.com time to read: +12 min

Awartani has an “incomplete spinal injury,” meaning he can feel his legs but can’t move them, Price told CNN’s Poppy Harlow from Amman, Jordan, Tuesday morning. Two of the men were also wearing traditional Palestinian scarves known as keffiyehs at the time of the attack, he said. One of the victims was released from the hospital Monday, a source close to the victims’ families told CNN. Federal prosecutors in Vermont are also investigating whether the shooting may have been a hate crime, officials said. After Eaton’s arraignment on Monday, his attorney, Margaret Jansch, said it was “premature to speculate” about a possible hate crime motivation.

Persons: Hisham Awartani, Elizabeth Price, Awartani, Price, CNN’s Poppy Harlow, ” Price, King Abdullah II, Jordan, Hisham, ”, He’s, he’s, Jason J, Eaton, Jon Murad, “, ” Awartani, Israel, ” Doumani, ” Murad, Miro Weinberger, Kinnan, Tahseen Ali Ahmad, Kinnan Abdalhamid, ” “ Kinnan, Awartani’s, Rich Price, ” Rich Price, ” Hisham Awartani, Ali Awartani, ” Elizabeth Price, Murad, Jason Eaton, Erin Burnett, Margaret Jansch, ” Robert Sand, Sand, CNN’s Ray Sanchez, Kaitlan Collins, Laura Coates, Rob Frehse, Polo Sandoval, Celina Tebor, Khalil Abdallah, Laura Dolan, Mark Morales Organizations: CNN, Brown University, West Bank, Authorities, Burlington Police, Palestinian Studies, Hamas, ”, Haverford College, Trinity College in, for Middle East, Institute for Middle, Jason Eaton Burlington Police Department, Federal, Vermont Law School Locations: Vermont, Burlington, Amman, Jordan, Palestine, United States, Israel, Pennsylvania, Trinity College in Connecticut, Ramallah, Eaton, Jason Eaton Burlington

The young men told relatives that they were talking in a mixture of English and Arabic before the gunman shot them, according to a family spokeswoman. Relatives said they feared that the young men were targeted for being Arab Americans. The suspect answered the door, “stepped toward them with his palms up,” Mr. Murad said, and told the agents, “I’ve been waiting for you.”When the agents asked him why, Mr. Eaton requested a lawyer. A public defender assigned as co-counsel for Mr. Eaton, Margaret Jansch, declined to comment on the details of the case. “These three young men are incredible,” he said, “and they are committed to building incredible lives.”Anna Betts contributed reporting from New York, and Siobhan Neela-Stock from Salisbury, Vt. Kitty Bennett contributed research.

Persons: Eaton, ”, Aren’t, ’, Jon Murad, Jason J, Hisham Awartani, Kinnan Abdel Hamid, Tahseen Aliahmad, Tahseen Ali Ahmad, Kinnan, Awartani, Ali Ahmad, Abdalhamid, Relatives, “, Radi Tamini, Mr, Murad, ” Mr, “ I’ve, Margaret Jansch, Mary Reed, Reed, Jason Eaton, Sarah George, Rich Price, Awartani’s, ” Anna Betts, Siobhan Neela, Kitty Bennett Organizations: “, West Bank, Burlington, Burlington police, North Prospect, ., Reuters, Brown University, Trinity College, Haverford College . Friends, United, Alcohol, Tobacco, Firearms, Explosives, Daily, University of Idaho Locations: Burlington , Vt, Vermont, Burlington, United States, Salisbury , Vt, Syracuse, New York

☆ Deliveroo lacks tasty recipe for takeover call
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

LONDON, Sept 14 (Reuters Breakingviews) - Deliveroo’s (ROO.L) valuation makes it a plausible takeover target, but Chief Executive Will Shu has a weak hand in negotiating any deal. Activist investor Sachem Head Capital Management has built a stake in the London-listed food delivery company, Bloomberg reported late on Wednesday. Share prices of Deliveroo rose nearly 5% on Thursday morning. That’s below the 1.5 times average of rivals Delivery Hero (DHER.DE), Just Eat Takeaway.com (TKWY.AS), HelloFresh (HFGG.DE) and DoorDash (DASH.N). Lastly, Delivery Hero and Amazon’s 5% and 12.5% stakes could complicate any deal.

Persons: Will Shu, LSEG, Uber, Karen Kwok, BoE, Neil Unmack, Streisand Neto Organizations: Reuters, Head Capital Management, Bloomberg, X, Treasury, Thomson Locations: London

☆ BAE’s stratospheric space deal has sound logic
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +2 min

People gather at the BAE Systems' booth during the Association of the United States Army (AUSA) Global Force Symposium & Exposition in Huntsville, Alabama, U.S. March 28, 2023. REUTERS/Cheney Orr/File Photo Acquire Licensing RightsLONDON, Aug 17 (Reuters Breakingviews) - BAE (BAES.L) is showing off its deep pockets. On Thursday, the $37 billion maker of war ships and armored vehicles said it will splurge over $5.5 billion in cash on Ball Corp’s (BALL.N) aerospace arm. BAE CEO Charles Woodburn beat off private equity bidders including Blackstone (BX.N) to seal the deal, which bulks up his exposure to civil and military space surveillance solutions. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Cheney Orr, Ball, Charles Woodburn, Woodburn, Woodburn’s pricey, Aimee Donnellan, EY’s loveless, Neil Unmack, Streisand Neto Organizations: BAE Systems, Association of, United States Army, Global, REUTERS, Reuters, BAE, Blackstone, Ball Aerospace, Twitter, TPG, Thomson Locations: Huntsville , Alabama, U.S

☆ Exclusive: Buzzy legal generative AI startup Harvey taps Sequoia to lead funding round at a $150 million valuation
▼ + stars: | 2023-04-11 | by ( Stephanie Palazzolo | ) www.businessinsider.com time to read: +3 min

Legal generative AI startup Harvey has raised a funding round from Sequoia, Insider has learned. This funding round landed the startup a $150 million post-money valuation. Industry-specific generative AI startups have emerged in nearly every industry, from healthcare to gaming, to offer specialized services beyond the capabilities of general models like OpenAI's GPT-4. Legal generative AI startup Harvey has raised a Series A round of funding at a $150 million post-money valuation from Sequoia Capital, according to three people with knowledge of the financing who were not authorized to speak publicly. The relatively few customers makes Harvey's valuation seem rich in comparison, the source said, pointing to a broader trend of elevated valuations and round sizes in the hyped-up generative AI space.

☆ U.S. DOJ preparing to probe Adobe's $20 bln Figma deal - Politico
▼ + stars: | 2022-11-02 | by ( Shadia Nasralla | Svea Herbst-Bayliss | ) www.reuters.com time to read: +1 min

Nov 2 (Reuters) - The U.S. Department of Justice is preparing to open an investigation into Adobe Inc's (ADBE.O) $20 billion takeover of Figma, Politico reported on Wednesday, citing four people with knowledge of the matter and a document it viewed. The DOJ has been reaching out to customers and competitors of Adobe and Figma, as well as Figma's venture capital investors, in recent weeks, according to the report. "Adobe and Figma today are not meaningful competitors," Adobe said in an emailed statement. Figma and the DOJ did not immediately respond to Reuters' requests for comment. The exact timing of the probe is unclear, Politico said, adding that the companies are still in the review period mandated by law.

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