Healthcare Roundup – Align Tech launches new visualization tool, Co-Diagnostics (+6%) completes CE Mark application for coronavirus test

医疗保健精选——Align Tech推出可视化工具,Co-Diagnostics完成了冠状病毒测试的CE 认证申请
Published on: February 20, 2020
Author: Amy Liu

Align Tech launches new visualization tool for Invisalign Go system

  • Align Technology (ALGN -1%) launches its ClinCheck “In-Face” Visualization tool for the Invisalign Go system that, it says, enhances the digital treatment planning experience for both dentists and patients via a front-facing smile image of the patient’s face. Commercial rollout will continue throughout the year.

Co-Diagnostics (+6%) completes CE Mark application for coronavirus test

  • Co-Diagnostics (CODX +5.5%) perks up on over 60% higher volume in reaction to its announcement that it has completed its application for CE Mark certification for the Logix Smart COVID-19 Test, its molecular diagnostic test for SARS-CoV-2, the coronavirus causing the current outbreak.

Progenics up 11% on improved merger terms with Lantheus

  • The boards of Lantheus Holdings (LNTH -0.5%) and Progenics Pharmaceuticals (PGNX +11.4%) have agreed to amend their merger agreement, first announced in October 2019.
  • Progenics shareholders will now receive 0.31 of a share of LNTH for each PGNX share owned, up from 0.2502, which will boost their ownership stake in the combined company to ~40% from ~35%.
  • PGNX stockholders will also receive a contingent value right (CVR), payable in two (undisclosed) cash payments, if net sales of PyL exceed $100M in 2022 and $150M in 2023.
  • LNTH has also agreed to provide a $10M bridge loan to PGNX.
  • The tie-up should close next quarter.

Citron sees 90% upside in this innovative drug discoverer

  • Citron Research, usually a vocal bear, is bullish on new IPO Schrödinger (SDGR +20%), a disruptive concept company that it equates to Tesla that, it says, could hit $80 per share. Citron is not alone. Investors have driven the stock up almost 250% since its debut at $17 on February 6.
  • The physics-based software developer has created a drug discovery platform that, it claims, more quickly identifies novel candidates at lower cost and with a greater chance of success compared to traditional approaches, leveraging rapid data processing and machine learning (artificial intelligence). It claims that its platform can evaluate “billions” of molecules per week.
  • Mega-billionaire Bill Gates and D.E. Shaw patriarch and quant guru David Shaw own almost half of the company.

Cannabis Sativa acquires majority stake in California CBD manufacturer

  • Cannabis Sativa (OTCQB:CBDS +4%) has acquired a 51% interest in GK Manufacturing, a Los Angeles county-based contract manufacturing, co-packing and white label company that makes CBD products, including edibles, tinctures, drinks and topicals.
  • Specific financial terms remain confidential.

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