EchoStar (NASDAQ:ECHO) shares got a boost Tuesday after UBS resumed coverage of the stock with a Buy rating and a $150 price target, sending the stock up 4.2%.
The UBS upgrade reflects EchoStar's transformation from wireless operator to investment vehicle, following the company's sale of 75-80% of its spectrum portfolio for roughly $43 billion.EchoStar is set to hold a 2% stake in SpaceX, equal to about 262 million shares, once its pending spectrum transaction closes. The deal is expected to close in November 2027 and has already received FCC approval. UBS valued that stake at roughly $39 billion, or $110 per EchoStar share, based on the current SpaceX stock price, and at $55 billion, or $156 per share, using the firm's $210 SpaceX price target.
BioVie Inc (NASDAQ:BIVI, NASDAQ:BIVIW) told investors that it is preparing to advance its Phase 3 development program for bezisterim in Parkinson’s disease and has requested an End-of-Phase 2 meeting with the US Food and Drug Administration.
The company is working with Parkinson’s disease clinical development experts to finalize the design of a Phase 3 trial.
Trust Stamp Inc (NASDAQ:IDAI, ISE:AIID)'s driver's license verification technology is now available through Jack Henry's digital banking platform, the company said Tuesday.
The AI-powered trust and identity solutions provider integrated its AAMVA Driver's License Data Verification (DLDV) solution using the Banno Digital Toolkit, the API framework underlying the Banno Digital Platform.
Medicus Pharma (NASDAQ:MDCX) is repositioning itself as a precision oncology-led biotechnology company, centering its strategy on CD228V, a second-generation antibody-drug conjugate targeting CD228-expressing solid tumors, the company said Tuesday.
CD228V is now the company's principal strategic priority, with initial development focused on establishing clinical proof-of-concept in a selected tumor population.
Qualcomm Inc (NASDAQ:QCOM, XETRA:QCI) and Amazon.com Inc (NASDAQ:AMZN) on Tuesday announced a multi-generation collaboration to develop customized silicon for large-scale AI data centers, with an initial focus on AI inference for Amazon Web Services.
The news sent Qualcomm shares up 4.5% on Tuesday morning in New York.
TNR Gold Corp (TSX-V:TNR, FRA:TNW, OTC:TRRXF) said it has filed and begun mailing a shareholder letter urging investors to vote only the BLUE proxy for the company's nominees ahead of a proxy contest with Eucalyptus Resources Opportunities Fund 1.
The dissident group, led by Jon Christian Evensen and referred to by TNR as "Koala," is seeking to replace TNR's board.
Novartis AG (ADR) (NYSE:NVS) shares fell as much as 10% after the company's del-desiran failed to meet the primary endpoint in its pivotal Phase 3 HARBOR study evaluating the drug in myotonic dystrophy type 1.
The study did not show a statistically significant improvement over placebo on video hand opening time, a novel measure of hand myotonia that served as the trial's primary endpoint.
80 Mile PLC (AIM:80M, OTCQB:BLLYF) shares climbed after Greenland Energy agreed indicative terms for a £61.48 million all-share acquisition.
80 Mile shares rose 7% to 0.80p, remaining below the approximately 1.1p implied in the proposed acquisition.
