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
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.