MRK - Monday Morning Kickoff by 24/7 Market News
DENVER, Colo., December 9, 2019- (24/7MarketNews via COMTEX) Venture Market News for December 9, 2019. Market Trend 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.” CBD 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. 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