WATERTOWN: EyePoint Pharmaceuticals, Inc. announced Monday it has commenced an underwritten public offering of $150 million of its common stock. The biopharmaceutical company, which focuses on treatments for serious retinal diseases, stated that all shares in the offering are being sold by the company. EyePoint also plans to grant the underwriters a 30-day option to…
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Hancock Whitney Q3 2025 profit rises 12% on higher revenue, cost management
GUFPORT: Hancock Whitney Corp (HWC.O) on Tuesday reported a 12% rise in third-quarter profit, driven by higher noninterest income and improved operational efficiency, even as deposits dipped. The Gulf Coast-based lender posted net income of $127.5 million, or $1.49 per share, for the quarter ended Sept. 30, up from $113.5 million, or $1.32 per share,…
Johnson & Johnson to spin off orthopedics unit named DePuy Synthes
NEW BRUNSWICK: Johnson & Johnson said Tuesday it plans to separate its orthopedics business into a standalone company named DePuy Synthes within the next 18 to 24 months, marking its second major spinoff in two years. The move comes as the health-care conglomerate raised its 2025 product revenue forecast to a range of $93.5 billion…
HCLTech raises sales guidance on AI demand; Quarterly revenue reach $3.6 billion
NEW YORK: HCLTech Ltd., India’s third-largest software services exporter, raised its full-year sales forecast after quarterly revenue from advanced artificial intelligence solutions crossed $100 million, signaling a new phase of monetization for the technology. The company now expects constant-currency services revenue to grow 4% to 5% in the fiscal year through March 2026, up from…
ABB and NVIDIA collaborate to develop next-generation AI data centers
ZURICH: Swiss technology leader ABB announced today it is accelerating the development of gigawatt-scale data centers in a collaboration with U.S. chipmaker NVIDIA, focusing on the advanced power solutions required for soaring artificial intelligence (AI) workloads. The partnership will center on creating high-efficiency, scalable power delivery systems, specifically supporting NVIDIA’s planned introduction of an 800 VDC…
Beyond Paris and Tokyo: Chinese tourists fuel a Middle East travel boom
Move over, Bali. Step aside, London. Chinese travelers are embarking on a new adventure, and their destination of choice is surprising the tourism world: the Middle East. Spurred by easier visa rules, a flood of new direct flights, and a thirst for unique experiences, Chinese outbound travel to the region is exploding. Data from the recent…
AI Technology Group to acquire AVM Biotechnology
SEATTLE: AI Technology Group Inc. (OTCID: AIPG) said Friday it has filed an amended Form 10 with the U.S. Securities and Exchange Commission and signed a definitive agreement to acquire AVM Biotechnology Inc., a clinical-stage biopharmaceutical company developing a novel cancer therapy. Under the agreement dated July 31, 2025, a newly formed subsidiary of AI…
Bristol Myers Squibb signs deal to acquire Orbital Therapeutics for $1.5 billion
NEW YORK: Bristol Myers Squibb (NYSE: BMY, BMS) and Orbital Therapeutics have entered into a definitive agreement in which BMS will acquire Orbital, a privately held biotech firm at the forefront of developing next-generation RNA-based therapies. Orbital’s platform focuses on in vivo immune system reprogramming, offering highly targeted, adaptable treatments designed to address the intricate…
Novo Nordisk to buy Akero for up to $5.2 billion
COPENHAGEN: Danish drugmaker Novo Nordisk will acquire U.S.-based Akero Therapeutics (AKRO.O) for up to $5.2 billion, gaining a promising liver disease treatment in the first major deal by its new chief executive to bolster its pipeline. The acquisition of Akero and its lead drug candidate, efruxifermin, underscores CEO Mike Doustdar’s strategy to focus on highly effective…
Wynnchurch Capital sells Clyde Industries after strategic growth investment
ATLANTA: Wynnchurch Capital, L.P., a middle-market private equity firm based in Rosemont, Illinois, announced Thursday the sale of Clyde Industries, a leading manufacturer of sootblowers and boiler efficiency solutions headquartered in Atlanta. Wynnchurch acquired Clyde in 2019 through a corporate carve-out from Clyde Bergemann Power Group. Over the course of the investment, the firm supported…
Stoke Space raises $610 million to accelerate reusable rocket development
KENT: Stoke Space Technologies, a U.S. rocket builder, said on Tuesday it has raised $510 million in a Series D funding round and secured a $100 million debt facility, providing fresh capital to speed development of its fully reusable Nova launch vehicle. The equity round was led by Thomas Tull’s US Innovative Technology Fund (USIT),…
SoftBank to acquire ABB’s robotics division for $5.4 billion
SoftBank Group Corp. said Monday it has agreed to acquire the robotics division of Swiss engineering giant ABB Ltd. for $5.4 billion, marking a major step in the Japanese conglomerate’s effort to expand its footprint in artificial intelligence. The deal, which remains subject to global regulatory approvals, will halt ABB’s previously announced plan to spin…