United Therapeutics Corporation (NASDAQ:UTHR) shares surged more than 35% following the release of positive late-stage clinical trial results for its lung disease drug Tyvaso.
The company said its TETON-2 study evaluating nebulized Tyvaso in patients with idiopathic pulmonary fibrosis (IPF) met its primary endpoint, showing significant improvements in lung function compared with placebo over a 52-week period.
Constellation Brands Inc (NYSE:STZ) shares sank nearly 7% in late-morning trading on Tuesday after the producer of alcoholic beverages reduced its fiscal full-year outlook, citing a “challenging” economy that is hurting its alcohol sales.
The adult beverages giant, which produces popular brands such as Modelo and Corona, also said it is seeing a trend of lower demand from Hispanic consumers in the US, which account for about half of its beer sales.
Kraft Heinz Co (NASDAQ:KHC, ETR:KHNZ) shares fell almost 7% on Tuesday after it announced plans to divide into two separate, publicly traded companies, marking a reversal of the 2015 merger that created the current food conglomerate.
The separation, expected to be completed in the second half of 2026, comes after years of challenges for Kraft Heinz, including declining sales and changing consumer preferences toward healthier and more affordable options.
PepsiCo Inc (NASDAQ:PEP, ETR:PEP) shares moved up as much 5% in early trading on Tuesday after activist investor Elliott Investment Management disclosed it had acquired a $4 billion equity stake in the beverage and snacks giant.
Elliott said it sees opportunity due to a "highly dislocated valuation” resulting from poor financial results, causing “sharp stock-price underperformance".
Medicus Pharma (NASDAQ:MDCX) reported that it has completed its previously announced acquisition of Antev Limited, a UK-based clinical-stage drug development company.
Medicus said it has acquired 98.6% of the issued and outstanding shares of Antev for total consideration of about US$2.97 million in cash plus 1,603,164 common shares of Medicus.
Candel Therapeutics Inc (NASDAQ:CADL), a clinical-stage biopharmaceutical company focused on viral immunotherapies, announced the appointment of Dr Carl June to its Research Advisory Board.
Dr June is an internationally recognized leader in cancer immunotherapy and played a key role in developing the first FDA-approved CAR-T cell therapy.
Shares in Tertiary Minerals PLC (AIM:TYM, OTC:TTIRF) jumped 40% on Tuesday after the company revealed encouraging new drill results from its Mushima North project in Zambia, confirming the extension of a promising silver discovery.
The latest drilling at Target A1 has pushed the known mineralised zone 225 metres further north, with some of the highest silver and copper grades seen at the site to date.
Shares in Tialis Essential IT (LSE:TIA) surged 36% on Tuesday after the company announced a major contract extension worth approximately £50 million with a long-standing client.
The five-year agreement significantly expands Tialis’s existing work with the customer and will see the AIM-listed managed services group provide a range of support services, including Lifecycle Services, Tech Bars, End User Support and Field Engineering.