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Inovio Pharmaceuticals (INO) has now initiated legal proceedings as an emergency action to compel the technology transfer required for the planned large-scale manufacture of its COVID-19 vaccine candidate.The company has an ambitious goal of producing one million doses of INO-4800 by the end of 2020, with its existing capacity and contract resources, for further clinical trials or emergency use.To fulfil this goal, INO has filed a complaint in Pennsylvania to compel VGXI, Inc. and GeneOne Life Science to facilitate the transfer of manufacturing methods, using VGXI’s technology, to the company’s new engaged contract manufacturers.“The Company believes that widespread availability of its potential COVID-19 vaccine, which can only be achieved through accelerated large-scale manufacture following clinical trials and regulatory approval, is essential to combat the ongoing global coronavirus pandemic” INO states.Under the companies’ Supply Agreement, VGXI produces and supplies the DNA plasmids for the INO’s research and early clinical trials for its product candidates.However VGXI allegedly informed Inovio that...
ZoomInfo on Wednesday raised $935 million in its initial public offering.The business database provider sold 44.5 million shares priced at $21 each, as earlier reported by the Financial Times.The public offering, which is the largest so far this year among technology companies, puts ZoomInfo's valuations at $19.5 billion.The Massachusetts-based company's offering followed that of Warner Music Group Corp. (NASDAQ: WMG) earlier in the day.Warner Music raised $1.925 billion in its IPO, priced at $25 per share. The shares surged 20.5% at $30.12 on the first day of trading at Nasdaq Stock Market.ZoomInfo beat market expectations in its IPO. Analysts had estimated the business-to-business company could raise $850 million, the Journal reported earlier.The IPO market had been quiet this year so far as economic activity is disrupted across the globe in the wake of the novel coronavirus (COVID-19) pandemic.See more from Benzinga * Uber's Ride-Hailing Business Shows Recovery In May, Food Delivery...
(Bloomberg) -- Bayer AG is blocked from selling its controversial dicamba-based herbicide in the U.S. after an appeals court rejected a federal regulator’s permit for the product, compounding the German company’s weed-killer woes.The three-judge panel concluded the Environmental Protection Agency had “failed entirely” to acknowledge some risks dicamba poses and that the agency violated federal regulations when it extended its approval of registration for the herbicide for another two years in October 2018.The ruling means farmers who bought seeds to be used with dicamba for this year’s growing season may not be able to plant them, since pesticides can’t be sold or distributed in the U.S. without EPA registration. The decision is the latest blow to Bayer in the wake of its $63 billion takeover of Monsanto -- a deal that made the German company a leader in agriculture products but also saddled it with a mountain of legal liabilities related...
Starting June 8, FedEx (FDX) has announced that it will start implementing a number of surcharges, including a temporary surcharge on FedEx SmartPost packages of $0.4/ package, as it deals with the fallout from Covid-19.For customers at the enterprise level, U.S. domestic residential FedEx Express and FedEx Ground packageswill face a surcharge of $0.3/ package, while Oversize U.S. domestic FedEx Express and FedEx Ground packages will now need to cough up an extra $30/ package.“As the impact of the virus continues to generate a surge in residential deliveries and has also generated a surge in oversize, hard-to-handle packages, we have experienced increased operating costs across our network” the company explained.“To continue providing our customers with strong levels of service during this time, we are implementing temporary peak surcharges” FedEx stated, arguing that it provides an essential business keeping commerce moving and delivering critical shipments during this challenging time.Indeed, FedEx rival UPS (UPS) has already implemented peak...
LVMH, the luxury goods giant, rules out buying the jeweller's shares to get it on the cheap....
British luxury carmaker Aston Martin plans to shed up to 500 jobs as it seeks to bring its cost base into line with reduced sports car production levels, it said on Thursday. The job cuts come a week after Aston Martin confirmed that Tobias Moers, CEO of Mercedes-AMG, would become chief executive on August 1, replacing Andy Palmer. Aston Martin, famed for being fictional secret agent James Bond's car of choice, has seen its share price plummet since floating in October 2018....
Billionaire investor Dan Loeb’s Third Point LLC fund has Boeing Co (BA) listed among its top winners in May sending shares in the ailing planemaker up 13% on Wednesday.The stock help up its gains on Wednesday even after Loeb told CNBC that he bought Boeing debt and not stock, reversing earlier market rumors that the fund entered into an equity position. The planemaker is joined by the likes of Walt Disney (DIS) and Burlington Stores Inc. on the investor’s list of top winners in May. The hedge fund returned 1.6% on its investments in May after 7.1% a month earlier.In recent days, Boeing stock has benefited from a number of positive news. SMBC Aviation Capital announced this week that it has deferred, but not cancelled, the delivery of 68 of its 737 MAX jets until 2025. In addition, the struggling planemaker reached an agreement on a comprehensive package with German travel...
