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Biotech Company Acquires Therapeutics Firm Gains Gem in Portfolio


Research Report
Streetwise Reports  (4/14/21)
Dawson James Securities advised it is maintaining its Buy rating after Sorrento Therapeutics announced the acquisition of ACEA Therapeutics for $38 million in stock.
In an April 6 research note, Dawson James Securities Inc. s Head Healthcare Research Analyst Jason K. Kolbert reported that Sorrento Therapeutics Inc. (SRNE:NASDAQ) announced that it entered into an agreement to acquire late-stage oncology company ACEA Therapeutics for $38 million in stock.
Kolbert stated that the ACEA merger will give Sorrento access to (oral) Abivertinib. The highly versatile drug candidate has already undergone wide testing in several clinical trials including a completed non-small cell lung cancer (NSCLC) registrational/Phase 3 trial, a Phase 1 B-cell lymphoma study, Phase 2 studies of COVID-19 patients with ARDS and Phase 2 studies for hairy cell leukemia, systemic lupus erythematosus and prostate cancer. ....

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Vuzix Corporation Announces Closing Of $97.75 Million Public Offering Of Common Stock


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ROCHESTER, N.Y., April 1, 2021 /PRNewswire/ Vuzix Corporation (Nasdaq: VUZI, the Company ), a leading supplier of Smart-Glasses and Augmented Reality (AR) technologies and products for the consumer and enterprise markets, today announced the closing of the Company s previously announced underwritten public offering of 4,768,293 shares of its common stock at a price to the public of $20.50 per share, including 621,951 shares pursuant to the full exercise by the underwriters of their over-allotment option. The gross proceeds to the Company from the offering were approximately $97.75 million, before deducting underwriting discounts and commissions and other offering expenses payable by the Company. ....

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