Dernières nouvelles pour Summit Therapeutics (NASDAQ:SMMT) Stock

SUMMIT THERAPEUTICS INC

Summit Therapeutics

Summit Therapeutics Inc is a biopharmaceutical company that focuses on the discovery, development, and commercialization of novel antibiotics for serious infectious diseases. Its CDI (Clostridiodes difficile infection) product candidate is ridinilazole, an orally administered small molecule antibiotic. It has two geographical segments: the United States and the United Kingdom.

Summit Therapeutics Inc

Nurix Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NRIX#NASDAQ">NRIX</a>), a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of targeted protein degradation medicines, today announced positive clinical data from the Company's ongoing NX-5948-301 study, a Phase 1a/b clinical trial of bexobrutideg (NX-5948) in patients with relapsed or refractory B-cell malignancies.
The data include findings from the fully enrolled Phase 1a dose escalation study in patients with relapsed/refractory chronic lymphocytic leukemia (CLL) and the ongoing Phase 1a/1b cohorts of patients with Waldenström macroglobulinemia (WM). Talha Munir, M.B. Ch.B, Ph.D., consultant hematologist at Leeds Teaching Hospitals NHS Trust, deputy chair of the United Kingdom National Cancer Research Institute CLL Study Group, and Dima El-Sharkawi, M.B., B.S., M.A., Ph.D., MRCP FRCPath, Consultant Haematologist, Royal Marsden NHS Foundation Trust, Sutton, U.K., will present these data at the 30th European Hematology Association Congress (EHA2025), taking place June 12–15, 2025, in Milan, Italy.
"These data demonstrate an impressive safety and efficacy profile for bexobrutideg with improvement in responses in patients over time, including the notable achievement of a complete response in a patient with CLL and a history of two lines of prior therapy who has been on bexobrutideg treatment for over two years," said Dr. Munir. "Patients with relapsed or refractory CLL and WM who have failed treatments with commonly prescribed BTK inhibitors and other agents due to intolerance or acquired resistance have few therapeutic options. Nurix's bexobrutideg has the potential to address this unmet need and provide a life-changing treatment for patients with CLL and WM."
"With longer time on treatment, we are encouraged by the continued favorable safety profile and high ORR with deepening responses in CLL and WM, including those with clinical and genomic high risk features including CNS involvement," said Paula G. O'Connor, M.D., chief medical officer of Nurix. "We have further expanded our Phase 1b cohorts in select CLL populations and remain on track to initiate pivotal studies in 2025."
"Bexobrutideg offers a next-generation approach to BTK targeting with exquisite selectivity, superior preclinical potency, broad coverage of mutations and demonstrated clinical activity in areas of high unmet medical need," said Arthur T. Sands, M.D., Ph.D., president and chief executive officer of Nurix. "We are not only preparing to initiate pivotal studies in the coming months but are also laying the foundation for the commercialization of bexobrutideg as a differentiated treatment option for patients with B-cell malignancies."
Data presented at EHA2025 include efficacy and safety findings for patients with CLL/SLL in the fully enrolled Phase 1a dose escalation study (n=48). This cohort of CLL patients was a heavily pretreated population that had received a median of four prior lines of therapy (range = 2–12) including prior covalent BTK inhibitors (97.9%), prior BCL2 inhibitors (83.3%), and prior non-covalent BTK inhibitors (27.1%). At baseline, many patients had mutations associated with BTK inhibitor resistance, including mutations in BTK (38.3%) and PLC2G (14.9%). Poor prognostic features were common, including TP53 mutations (44.7%), and five patients (10.4%) had central nervous system (CNS) involvement.
Patients were treated with bexobrutideg at doses ranging from 50 mg to 600 mg once daily by oral administration in the Phase 1a dose escalation study. As of the March 12, 2025 data cut, the median follow up was 9.0 months with most patients still on treatment. Bexobrutideg was well tolerated across all doses evaluated with the most common treatment emergent adverse events of purpura/contusion (45.8%), neutropenia (29.2%) and thrombocytopenia (22.9%), primarily low grade. No new onset atrial fibrillation was observed. Among the efficacy evaluable patients with CLL (n = 47), bexobrutideg treatment resulted in a robust objective response rate (ORR) of 80.9% across all doses tested with a median time to first response of 1.9 months. Many patients experienced deepening of their response with longer time, with multiple conversions from stable disease to partial responses and one patient, who has been on treatment for over two years, experienced a complete response. The median duration of response has not been reached, with 18 patients on treatment for more than a year. Responses were observed across all populations regardless of prior treatment, baseline mutations, or CNS involvement.
The data presented at EHA included patients with WM (n=22) treated with bexobrutideg at doses ranging from 50 mg to 600 mg once daily by oral administration from both the Phase 1a dose escalation and Phase 1b cohort expansion. Among the 22 WM patients, the median age was 72.5 years (range 58-86 years) and the median number of prior lines of therapy was 3 (range 2-5). All 22 patients previously had been treated with a covalent BTK inhibitor (100%), 21 had received prior chemotherapy/chemo-immunotherapy (95.5%), four had received prior non-covalent BTK inhibitor (18.2%), and one patient (4.5%) had received prior treatment with a BCL2 inhibitor. Baseline mutation status in MYD88 and CXCR4 was captured from patient records. 15 patients (68.2%) had mutations in MYD88, and five patients (22.7%) had mutations in CXCR4. Bexobrutideg was well tolerated in patients with WM with a profile that was consistent with the overall study population and previous disclosures. Adverse events (AEs) were predominantly low grade; with the most common being petechiae (27.3%), diarrhea (22.7%), purpura/contusion (18.2%), neutropenia (18.2%), and thrombocytopenia (18.2%). There were no dose limiting toxicities observed and no grade 5 AEs. Two treatment emergent AEs led to drug discontinuation. No new onset atrial fibrillation was observed.​ As of the March 12, 2025 data cut, 19 patients were evaluable for responses. Objective response was observed in 16 patients (84.2%), including two patients (10.5%) with very good partial response (VGPR), 11 patients (57.9%) with partial response (PR), and three patients (15.8%) with minor response (MR). Three patients (15.9%) had a best response of stable disease (SD). Responses were observed in patients regardless of their baseline mutations in MYD88 and CXCR4. Steady reductions in IgM levels were observed starting from the first assessment at four weeks, which continued to deepen, and three patients achieved IgM reductions of greater than 90%.

News

NRIX

Nurix Reports 81% Response Rate in CLL Drug Trial, With Complete Remission in Long-Term Patient

New Era Helium, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NEHC#NASDAQ">NEHC</a>) ("NEHC" or the "Company"), a next-gen exploration and production platform in the Permian Basin, today announced that Texas Critical Data Centers, LLC ("TCDC") its joint venture with Sharon AI, Inc., is in active discussions with certain large enterprise customers to anchor its planned AI infrastructure buildout in Ector County, Texas. While no formal agreement has been signed, the Company is actively working to align TCDC's Permian Basin AI Infrastructure efforts with the needs of a large-scale, high-performance computing (HPC) development.
 &nbsp;

NEHC

New Era Helium's TCDC JV In Talks With Enterprises For AI Infrastructure Expansion In Texas

I-Mab (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IMAB#NASDAQ">IMAB</a>) ("I-Mab" or the "Company"), a U.S.-based, global biotech company, focused on the development of precision immuno-oncology agents for the treatment of cancer, today announced that on June 11, 2025 it received notification from The Nasdaq Stock Market LLC ("Nasdaq") notifying the Company that it had regained compliance with Nasdaq's $1.00 minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) (the "Listing Rule"). The Company's American Depositary Shares ("ADSs") will continue to be listed and traded on Nasdaq.
To regain compliance with the Listing Rule, the Company's ADSs were required to maintain a minimum closing bid price of $1.00 for at least 10 consecutive business days, which was achieved on June 10, 2025. Nasdaq has stated that this matter is now closed.

Government

Regulations

IMAB

I-Mab Clears Nasdaq's $1 Minimum Bid Rule, Keeps Stock Listing Secure

<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082036/10591749643366_.pic_hd-900x600-1.png" alt="" class="wp-image-14314" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082036/10591749643366_.pic_hd-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082036/10591749643366_.pic_hd-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082036/10591749643366_.pic_hd-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
The Chinese drug giant revealed it was in talks with three parties to license its products for up to $5 billion in potential fees, a day after it delivered lackluster earnings
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>The drug firm's revenue dropped nearly 22% in the first quarter while net profit fell just over 8%</li>
<li>The ultimate value of the licensing deals, if finalized, would depend on the size of upfront payments and whether milestone goals are met</li>
</ul>
China's pharmaceutical industry has been on a mission to transform itself from a producer of cloned drugs to a global pioneer of new therapies.
As those efforts start to bear fruit, the firms are striking lucrative partnership deals to license their Chinese drugs for development or sale in overseas markets.
CSPC Pharmaceutical Group Ltd.&nbsp;(1093.HK), one of China's top four generic drug makers, is a case in point, illustrating how the sale of selected rights to promising novel drugs is becoming a significant growth engine for the industry.
So much so, that the company chose to tell investors on May 30 that it was in talks on three such tie-ups, even before the deals have been sealed. CSPC Pharma said the transactions under discussion could yield up to $5 billion in initial fees and milestone payments over time, in an&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0530/2025053000193.pdf">announcement</a>&nbsp;that departed from the usual practice of keeping commercial deals under wraps until fully signed off.
Notably, CSPC Pharma chose to flag up the potential for a big pay-off just after it had reported disappointing quarterly earnings, with profits squeezed by price controls in China's national health insurance program.
The drug licensing talks cover the development, production and sale of a targeted cancer therapy and other CSPC Pharma products, the statement said. The cancer treatment in question is an antibody-drug conjugate that targets the epidermal growth factor protein in tumor cells.
Discussions on one potential transaction have reached an advanced stage and are expected to be finalized later this month, the company said. However, the statement contained multiple caveats reminding investors that the talks were ongoing and no legally binding pacts had yet been agreed.
The transactions, if confirmed, would add to a growing list of CSPC pipelines under joint development or licensing arrangements. The company has already done two partnership deals this year. Last month it disclosed a global licensing pact with BeiGene (688235.SH; 6160.HK) for a drug designed to target cancers through the MTAP enzyme pathway. CSPC Pharma pocketed $150 million upfront and retains the right to up to $135 million in staged development payments and up to $1.55 billion in fees related to sales milestones.
That followed a February deal in which Radiance Biopharma bought European and U.S. rights to develop and commercialize an antibody-drug conjugate targeting the ROR1 protein. Radiance paid $15 million upfront and agreed to $150 million in milestone payments to CSPC Pharma during the drug development and certification stage, as well as $1.08 billion in sales milestone payments and a percentage of revenue.
Based on a headline figure of $5 billion, the three deals on the table would each be worth an average of around $1.7 billion, on a par with the BeiGene collaboration. However, the eventual realized proceeds from each transaction will be determined by the scale of the upfront fees and whether milestones can be achieved.
<h4 class="wp-block-heading">Now for the bad news</h4>
The timing of the announcement suggests a deliberate move to soften the blow from underwhelming quarterly&nbsp;<a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2025/0529/2025052900176.pdf">results</a>&nbsp;released on May 29. If so, it had the desired effect. The firm's stock price rose 16.9% over the six trading days after the statement was issued.
In the first quarter, revenue fell 21.91% to 7.02 billion yuan ($976,000) and net profit sank 8.36% to 1.48 billion yuan from the same period a year earlier. Prices of two key products for chemotherapy and blood conditions had to be cut to meet the requirements of China's health insurance scheme. As a result, revenue from finished drugs fell 27.3% to 5.5 billion yuan and income from the oncology business plunged 65.7%.
It was a familiar pattern of sliding turnover and sinking profits, as the company invests heavily in R&amp;D to drive its shift from generic to ground-breaking drugs. In 2024, CSPC Pharma's revenue fell 7.8% from the prior year, while net profit dropped 25.4% to 4.68 billion yuan. In the first quarter of this year, R&amp;D expenses rose 11.4% and accounted for 18.56% of operating revenue. However, the innovative drug business still lacks the economy of scale to serve as a strong revenue driver.
Investors worry that the traditional drug business, as it gradually winds down, will not be able to keep financing the shift into immunotherapy and other novel drugs, pushing the stock price down to HK$4.17 at one point earlier this year.
The prospect of large-scale deals may take the edge off that anxiety, but investors should bear in mind the risk that partnerships can swiftly unravel. VCBeat, a biotech and healthcare-focused information platform, estimates that of 62 licensing deals between Chinese pharmaceutical companies and foreign partners in 2020, at least 25 had been canceled by April this year, a reversal rate of 40%. A deal between CSPC Pharma and Elevation Oncology offers a cautionary tale. Elevation obtained licensing rights over the cancer drug EO-3021 from CSPC Pharma for $27 million upfront and $1.15 billion in milestone payments. However, results of Phase One U.S. clinical trials fell short of the outcome of Chinese tests and Elevation pulled the plug on the project.
Such discrepancies between U.S. and Chinese trials are not uncommon, but the gap reflected poorly on CSPC Pharma.
Its stock is trading at a price-to-earnings (P/E) ratio of around 20 times, much lower than the multiple of 51 for&nbsp;Jiangsu Hengrui Pharmaceuticals&nbsp;(600276.SH; 1276.HK), an industry peer listed in Hong Kong and Shanghai. Developing innovative drugs is a high-stakes, long-haul business. With CSPC Pharma facing a potential funding squeeze, with the generics business slowing and new products still taking off, investors may want to consider watching from the sidelines.

Asia

Biotech

Equities

Opinion

Trading Ideas

CSPC Pharma Pursues Licensing Deals After Lackluster Earnings

Transat A.T. (TSX:<a class="ticker" href="https://www.benzinga.com/stock/TRZ#TSX">TRZ</a>) reported quarterly earnings of $0.12 per share. This is a 109.92 percent increase over losses of $(1.21) per share from the same period last year. The company reported $1.03 billion in sales this quarter. This is a 5.94 percent increase over sales of $973.20 million the same period last year.

Earnings

TSX:TRZ

Transat A.T. Q2 EPS $0.12 Up From $(1.21) YoY, Sales $1.03B Up From $973.20M YoY

Sachem Capital Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SACH#NYSE">SACH</a>) (the "Company"), a real estate lender specializing in originating, underwriting, funding, servicing, and managing a portfolio of loans secured by first mortgages on real property, today announced that Sachem Capital Corporation Holdings, LLC, an indirect, wholly-owned subsidiary of the Company, consummated a private placement of $100 million aggregate principal amount of five-year Senior Secured Notes due June 11, 2030 (the "Notes") to various institutional investors. An initial draw of $50 million was made at closing, and the remaining $50 million must be drawn by May 15, 2026. The Notes bear interest at a fixed rate of 9.875% per annum, with interest only payable quarterly and a commitment fee of 1.0% on the undrawn portion of the Notes. Payment of the amounts due on the Notes is fully and unconditionally guaranteed by the Company and Sachem Capital Corporation Intermediate, LLC, a wholly-owned subsidiary of the Company. The Notes have received an investment grade rating of A from Egan-Jones Ratings Company, an independent, unaffiliated rating agency.
The Company intends to use the proceeds for a combination of purposes, including the repayment of existing facility balances, the origination of new investments, and to redeem its 7.75% unsecured notes maturing in September 2025.

SACH

Sachem Capital Consummates Private Placement Of $100M Aggregate Principal Amount Of 5-Yr Senior Secured Notes Due June 11, 2030

26% (20/77) CR+CRh rate and 48% (37/77) ORR in efficacy-evaluable pivotal R/R mNPM1 AML population.
– Robust responses observed across subgroups, regardless of co-mutations, number of prior lines of therapy, or prior venetoclax, within efficacy-evaluable pivotal R/R mNPM1 AML population.
– 60% (3/5) ORR in Ph 1 patients with R/R NUP98r AML.

SNDX

Syndax Presents New Revuforj (revumenib) Data In Relapsed/Refractory mNPM1 And NUP98r Acute Leukemia From AUGMENT-101 Trial At EHA 2025

Are robots the solution to China's growing aged care problem? The Chinese Ministry of Industry and Information Technology has announced a large-scale trial program to test whether intelligent machines can provide not just physical assistance, but also emotional support for its expanding senior population.
What Happened: The ministry has invited private companies with proven track records in elder care to apply for the initiative.
Firms must have robust environmental, credit, and safety records to qualify. Selected participants must develop at least 200 robots and deploy them across 20 test sites within two years of approval.
The robots will be evaluated on a wide range of abilities, including cooking, cleaning, and fall prevention, to feeding, lifting, and assisting with going to the toilet, and outdoor mobility.
In addition to physical support, the Ministry has also called for building machines capable of "anti-wandering and anti-falling" features for dementia patients and tools that can identify early symptoms of cognitive decline.
They are also looking for robots that can hold conversations in various dialects, read books and newspapers, and even place video calls to family members. Described as "intelligent communication companion service robots," these machines are expected to counter loneliness and act as possible substitutes for pets.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45899475/craig-federighi-says-building-a-chatbot-was-never-the-goal-promises-apple-intelligences-focus-is-to-meet-you-where-you-are">Craig Federighi Says &#8216;Building A Chatbot&#8217; Was Never The Goal, Promises Apple Intelligence&#8217;s Focus Is To &#8216;Meet You Where You Are&#8217;</a>
Why It Matters: While the ministry does not explicitly call for humanoid design, the features described are most closely associated with human caregiving.
Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) CEO Elon Musk, in an <a href="https://www.beijingchannelnewsletter.com/p/elon-musks-article-in-china-cyberspace">article</a> for China's cyberspace authority in 2022, floated an idea somewhat similar to what the ministry is looking for: &#8220;Perhaps in less than a decade, people will be able to buy a robot for their parents as a birthday gift,&#8221; he wrote, referring to Tesla's humanoid robots currently in development.
Last month, Musk shared his belief that humanoid robots will start impacting countries&#8217; GDPs in "4-5 years." He weighed in on the massive amounts of power humanoid robots will require to function to the height of their capabilities.
Musk has also asserted that Optimus, his company's humanoid robot, is capable of learning tasks simply by <a href="https://www.benzinga.com/markets/equities/25/05/45536080/elon-musk-says-teslas-optimus-can-learn-tasks-by-watching-youtube-videos-just-like-a-human">watching YouTube videos</a>, much like humans can.
Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) CEO Jensen Huang has suggested that Optimus might be the <a href="https://www.benzinga.com/news/25/05/45691451/teslas-optimus-may-be-the-first-humanoid-robot-to-achieve-high-volume-and-tech-scale-says-nvidia-ceo">first humanoid robot to reach both mass production and advanced technical capability</a>. "I think this is likely to be the next multi-trillion-dollar industry," he said.
Recently, Nvidia <a href="https://www.benzinga.com/markets/equities/25/05/45662285/nvidia-unveils-foundation-models-for-humanoids-eyes-era-of-robotics-as-ai-spend-accelerates">unveiled Isaac GR00T</a>, labeled as "the world's first open, fully customizable foundation model for humanoid robots, enabling generalized reasoning and skill development." 
Read Next:
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/equities/25/06/45899111/apple-may-end-up-acquiring-perplexity-like-it-did-with-beats-in-2014-says-dan-ives-consumers-need-reasons-to-upgrade-as-iphone-maker-falls-way-behind-in-ai-race">Apple May End Up Acquiring Perplexity Like It Did With Beats In 2014, Says Dan Ives—Consumers Need &#8216;Reasons To Upgrade&#8217; As iPhone Maker Falls &#8216;Way Behind&#8217; In AI Race</a></li>
</ul>
Photo courtesy: Shutterstock

Tech

NVDA

TSLA

Are Robots The Answer To China's Aged Care Crisis? Beijing Launches Massive Trial To Test If Machines Can Cook, Clean And Console The Elderly

Lovesac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) affirms FY2026 GAAP EPS guidance from $0.80-$1.36 to $0.80-$1.36 vs $1.03 analyst estimate. Affirms FY2026 sales outlook from $700.00 million-$750.00 million to $700.00 million-$750.00 million vs $710.71 million estimate.

Guidance

LOVE

Lovesac Affirms FY2026 GAAP EPS Guidance of $0.80-$1.36 vs $1.03 Est; Affirms FY2026 Sales Guidance of $700.00M-$750.00M vs $710.71M Est

Lovesac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) is looking for Q2 GAAP EPS of $(0.83)-$(0.58) vs $(0.26) analyst estimate. sees sales of $157.000 million-$166.000 million vs $161.67 million analyst estimate.

Lovesac Sees Q2 GAAP EPS $(0.83)-$(0.58) vs $(0.26) Est; Sees Sales $157.000M-$166.000M vs $161.67M Est

Innovative Agents Highlight Growth of Targeted Protein Degradation Platform and BMS' Leadership in Innovative Cancer Therapies
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54272918&amp;newsitemid=20250612347504&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=d564e2f69d9f1c2ea34e8ca51e3ad252">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced the presentation of new data from its targeted protein degradation platform during the 2025 European Hematology Association (EHA) Annual Congress being held from June 12-15 in Milan, Italy. Presentations feature updated clinical findings on the company's investigational oral CELMoD&#x2122; agents mezigdomide and iberdomide in multiple myeloma, and golcadomide in non-Hodgkin lymphoma, as well as the first results evaluating the company's first-in-class, oral BCL6 ligand-directed degrader (LDD) (BMS-986458) in non-Hodgkin lymphoma.
The latest data presented for the three lead CELMoD agents and BCL6 LDD underscore the potential impact that these therapies may have in addressing significant unmet medical needs in hematologic malignancies. These agents are part of continuing research across targeted protein degradation at Bristol Myers Squibb, which also encompasses additional CELMoD agents, LDDs and degrader antibody conjugates (DACs) across blood cancers and solid tumors, as well as non-malignant hematologic disorders.
Protein degraders, like CELMoD agents and LDDs, are therapies designed to target and degrade specific proteins that drive diseases, including many proteins that are difficult to target through conventional small-molecule inhibitors. These innovative agents have the possibility to enhance the efficacy of existing therapies and overcome resistance in various malignancies, potentially improving patient outcomes.

Bristol Myers Squibb Presents Updated Clinical Findings On CELMoD Agents Mezigdomide And Iberdomide In Multiple Myeloma, Golcadomide In Non-Hodgkin Lymphoma, And First Results Evaluating Oral BCL6 LDD In Non-Hodgkin Lymphoma, At EHA 2025

Lovesac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LOVE#NASDAQ">LOVE</a>) reported quarterly losses of $(0.73) per share which beat the analyst consensus estimate of $(0.83) by 12.05 percent. This is a 12.05 percent increase over losses of $(0.83) per share from the same period last year. The company reported quarterly sales of $138.37 million which beat the analyst consensus estimate of $137.00 million by 1.00 percent. This is a 4.32 percent increase over sales of $132.64 million the same period last year.

Earnings Beats

Lovesac Q1 EPS $(0.73) Beats $(0.83) Estimate, Sales $138.37M Beat $137.00M Estimate

<ul>
<li>Acquisition will strengthen the research, development, manufacturing and commercialization of mRNA-based cancer immunotherapy candidates, marking BioNTech's next key milestone in the execution of its oncology strategy</li>
<li>Acquisition of CureVac will complement BioNTech's capabilities and proprietary technologies in mRNA design, delivery formulations, and mRNA manufacturing</li>
<li>Public exchange offer for all shares of CureVac where each share of CureVac will be exchanged for approx. $5.46 in BioNTech American Depositary Shares ("ADSs"), representing a premium of 55% to CureVac's three-month volume weighted average price of approx. $3.53 as of June 11, 2025</li>
<li>All-stock acquisition has potential to create long-term value for both companies' shareholders given their complementary capabilities, focus on mRNA innovation, and shared vision</li>
<li>Transaction is supported by CureVac's major shareholder dievini Hopp BioTech holding GmbH &amp; Co. KG and certain of its affiliates and expected to close in 2025&nbsp;</li>
</ul>

Large Cap

Health Care

General

BNTX

CVAC

BioNTech Agrees To Acquire CureVac In All-stock Transaction

HC Wainwright &amp; Co. analyst Brandon Folkes assumes Connect Biopharma Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CNTB#NASDAQ">CNTB</a>) with a Buy rating and announces Price Target of $7.

Price Target

Initiation

Analyst Ratings

CNTB

HC Wainwright & Co. Assumes Connect Biopharma Hldgs at Buy, Announces Price Target of $7

Tech billionaire and Shark Tank investor Robert Herjavec once credited a part-time retail job for equipping him with the tools that led to his eventual success in the world of business.
What Happened: Speaking to Lewis Howes on a podcast in February, Herjavec shared his inspiring story. When he was young, Herjavec went to Harry Rosen, a luxury clothing retailer in Canada, but the $1200 suit was too expensive for him. The shop attendant informed him that employees received 50% discounts on suits, so Herjavec took up a part-time job at the store.
Herjavec, who billionaire and fellow Shark Tank investor Mark Cuban described as being interested in <a href="https://www.benzinga.com/news/25/01/42898869/she-cant-do-math-and-hes-the-bad-guy-billionaire-mark-cuban-ranks-all-the-sharks-on-shark-tank">&#8220;pets and kids and stuff like that&#8221;</a> in his investments, shared: "The guy who owns the place called Harry Rosen … used to teach on Saturdays if you showed up an hour before the store opened." Herjavec showed up, unlike his colleagues, and found himself on the receiving end of a mentorship that covered everything from tailoring basics to client psychology.
See Also: <a href="https://www.benzinga.com/markets/tech/25/06/45851993/mr-wonderful-kevin-oleary-says-he-was-once-told-by-a-ceo-to-shut-up-and-that-leveled-up-his-negotiation-skills-fellow-shark-mark-cuban-also-fle">Mr Wonderful, Kevin O&#8217;Leary, Says He Was Once Told By A CEO To &#8216;Shut Up&#8217; And That Leveled Up His Negotiation Skills — Fellow &#8216;Shark&#8217; Mark Cuban Also Flexes This Superpower</a>
Why It Matters: Highlighting the importance of what he learnt from Rosen, Herjavec said, "I would have paid him to teach me." "It was great, he taught me everything," he added. He later made headlines for his $30.2 million sale of BRAK Systems to AT&amp;T Canada and a private equity deal for his Herjavec Group in 2021.
"I&#8217;m not wealthy because of my knowledge of a task, I&#8217;m wealthy because of my knowledge of sales," he explained.
Despite his success, Herjavec continues to share new lessons that he learnt from others, including from an <a href="https://www.benzinga.com/startups/24/10/41600192/robert-herjavec-jokes-about-working-to-get-a-bigger-jet-than-mark-cubans-cubans-which-one-response-h">interaction with Cuban</a>, which taught him to refocus on his own goals instead of comparing his achievements with others'.
Last year, he also shared an anecdote about asking Cuban why he dresses like a "slob," to which Cuban replied, <a href="https://www.benzinga.com/personal-finance/25/05/45211673/billionaire-mark-cuban-was-asked-by-fellow-shark-tank-star-with-all-due-respect-why-do-you-dress-like-a-slob-he-responded-because-i-can">"because I can,"</a> highlighting the freedom and power that comes with accumulating a massive amount of wealth.
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
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<iframe loading="lazy" title="Shark Tank Host: My Parents &amp; I Escaped Communism With $20! THIS Unlocked Wealth for Me!" width="500" height="281" src="https://www.youtube.com/embed/M2e0WeBCYIs?start=2&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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Read Next:
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<li><a href="https://www.benzinga.com/news/topics/25/06/45889687/mark-cuban-predicts-ai-video-will-trigger-an-explosion-in-face-to-face-engagement-events-and-jobs-calls-it-the-milli-vanilli-effect">Mark Cuban Predicts AI Video Will Trigger &#8216;An Explosion&#8217; In Face-To-Face Engagement, Events And Jobs. Calls It &#8216;The Milli Vanilli Effect&#8217;</a></li>
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Photo courtesy: DFree / Shutterstock.com

Entrepreneurship

Shark Tank Star Robert Herjavec Says A Part-Time Job Made Him A Billionaire, Thanks To A Retail Mentor Who Taught Him How To Sell To The Wealthy

Macro Economic Events

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<figure class="wp-block-image size-full"><img loading="lazy" decoding="async" width="900" height="600" src="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082317/Biogene-01-900x600-1.png" alt="" class="wp-image-14317" srcset="https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082317/Biogene-01-900x600-1.png 900w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082317/Biogene-01-900x600-1-300x200.png 300w,https://contributor-assets.benzinga.com/wp-content/uploads/2025/06/12082317/Biogene-01-900x600-1-768x512.png 768w" sizes="(max-width: 900px) 100vw, 900px" /></figure>
A squabble involving false advertising claims by a sinking Bloomage Biotech against highflying rival Giant Biogene has captivated China, with no end in sight
<h4 class="wp-block-heading">Key Takeaways:</h4>
<ul class="wp-block-list">
<li>Shares of Giant Biogene have plunged 30% in the month since it was accused of false advertising by rival Bloomage Biotech</li>
<li>Biogene's stock had more than doubled before the squabble on success of its collagen skincare products, making it vulnerable to an attack by its jealous rival</li>
</ul>
A fight between skincare brands owned by two of China's wealthiest women has mesmerized the country with saturation media coverage – and left one of the pair's formerly highflying stocks badly bruised.
In nearly a month since the skirmish began on May 17, shares of&nbsp;Giant Biogene Holding Co. Ltd.&nbsp;(2367.HK) have shed nearly 30% of their value, while&nbsp;Bloomage BioTechnology Corp. Ltd.&nbsp;(688363.SH), which initiated the dust-up, is up about 7%.&nbsp;
While the allegations have the potential to dent both companies' reputations, the selloff for Biogene's stock, in particular, seems overblown. In its latest annual results, Biogene reported its revenue soared 57.2% last year to 5.5 billion yuan ($765 million), fueling a 42.4% profit gain to 2 billion yuan. Bloomage is moving in the other direction, reporting its revenue fell 12% last year to 5.37 billion yuan, as its profit plunged 71% to 174 million yuan.
So, how did this squabble between rising beauty Biogene and a fading Bloomage begin?&nbsp;
The two are known for different core products. Bloomage's use hyaluronic acid (HA), which helps the skin retain moisture. Biogene uses recombinant collagen, which helps new cells grow in the skin layer. Recombinant collagen has become all the rage lately, fueling Biogene's rapid rise and prompting Bloomage to invest in that area as well.
The fight may also have a personal element, either real or perceived, with much of the media attention focused on presumed tension between Biogene founder Fan Daidi and Bloomage founder Zhao Yan, two of China's wealthiest women.
Fan, a biochemist and former visiting scholar at MIT, founded Biogene in 2000 and built it into an industry-leading brand in 2024, according to Euromonitor. Its star product, "Comfy Collagen Stick" ranked first in sales on e-commerce platforms in China during the June 18 shopping festival last year.
Zhao started out as a banker, launching Bloomage in 2001 with an initial focus on the raw materials market for HA. In 2017 her company acquired Revitacare, a French maker of HA compounds. Bloomage then launched Biohyalux, a heavily discounted skincare brand, and has 44% of the global market for HA raw materials.
Bloomage fired the first shot in the battle by publishing a 5,000-word report on its official WeChat account accusing nine equity research houses of playing up the merits of recombinant collagen over HA. "The HA industry has encountered lies and trampling, and has been described as ‘outdated,' ‘not as safe as a certain substance,' ‘not as biologically active as a certain substance,' ‘not as market-valuable as a certain substance,'" the report said, in a thinly veiled reference to recombinant collagen.
A media field-day ensued, with some reports likening Zhao to a Chinese empress taking aim at imperial powers from the West.
The battle heated up 10 days later when beauty influencer Hao Yu, better known as "Dr. Big Mouth," who made headlines after previously accusing an Estee Lauder product of false advertising and discrimination against Chinese, took aim at Biogene. In his attack, Hao claimed the company had violated China's cosmetic labeling regulations after he found only trace levels of recombinant collagen in a Comfy product he tested.
<h4 class="wp-block-heading">Quick rebuttal</h4>
The Comfy brand quickly released a statement saying that it had immediately conducted tests showing more than 0.1% collagen content, well above Hao's finding of just 0.0177%. Biogene also commissioned third party testing agents to conduct independent tests.
Bloomage admitted days later that Hao was effectively on its payroll through an investment relationship.
But that didn't end the fight. On June 4, Comfy shared the test results on its website, saying it had not made any "false or misleading" claims for its product. One of the testing agencies cited by Hao also accused him of using its test results without permission and issued a letter of apology cited by Biogene.
That didn't stop Hao from continuing the fight, accusing Biogene a day later of pressuring testing institutions not to test the company's recombinant collagen products. He added that he had received a message from one such major company refusing to conduct a test because it didn't want to get caught up in the slugfest.
There are plenty of signs that financial pressure on Bloomage may have been partly behind its attacks against its up-and-coming rival. Bloomage previously delayed publication of its full-year results for 2024, publishing them just two weeks before its first-quarter results. Its first-quarter financials were also weak, showing the company's revenue fell 20.7% year-on-year to 1 billion yuan.
In addition to weak financials, Bloomage is also being plagued by other issues, including executive departures, changes to its management team and an internal anti-corruption campaign.
Revenue from Bloomage's skincare products declined by 32% in 2024 to 2.57 billion yuan, accounting for 48% of total revenue. According to Wind data, the company's market value peaked at 140 billion yuan in 2021, and has shriveled since then to a current 26 billion yuan. In December 2024, it was removed from the CSI 300 Index for China's most important publicly traded companies.
Meanwhile, Giant Biogene has moved in the opposite direction. Its revenue and net income both doubled between 2022 and 2024, and the company raised $80 million in its 2022 Hong Kong IPO. Since then, its stock has more than doubled from its IPO price of HK$24.30 to its latest close of HK$60.60 on Wednesday, giving the company a market cap of about HK$61 billion ($7.8 billion). The company is in a market that will growth by an average 55% annually between 2022 and 2027 to reach 64.5 billion yuan, according to independent research.
Biogene is hardly the only Chinese company benefitting from recent positive publicity for recombinant collagen skincare products. Other beneficiaries include&nbsp;Jinbo Bio-Pharmaceutical,&nbsp;Guangdong Marubi Biotechnology&nbsp;(603983.SS), and&nbsp;FREDA&nbsp;(600223.SS). But as the Biogene-Bloomage dust-up shows, highflying companies – and their investors – often make easy targets for jealous rivals.

Global

Giant Biogene Bruised In A 'Battle Of The Skincare Belles'

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