All articles tagged with #asset acquisition
Arcade1Up, a home arcade machine maker, is not shutting down but has sold select assets to toy company Basic Fun, leaving its future uncertain but indicating ongoing support for existing products.
New York Community Bancorp's stock plummeted 38% after reporting a surprise loss of $252 million last quarter, attributed to acquiring $40 billion in assets, including $13 billion in loans, from now-failed Signature Bank. The acquisition pushed the bank's total assets above $100 billion, triggering the need to set aside more capital, limiting lending capacity. CEO Thomas Cangemi aims to "rightsize" the business, including slashing dividends, to free up funds. The bank's struggles caused a 6% drop in the KBW Regional Banking Index, raising concerns about the broader regional banking sector, although there are indications that the bank's troubles may be a one-time event rather than a sign of imminent collapse.
4D Molecular Therapeutics has acquired the rights to the short-form human complement factor H (sCFH) asset from Aevitas Therapeutics, a subsidiary of Fortress Biotech. Meanwhile, Boehringer Ingelheim has inaugurated a new Germany-based research center, into which the company invested €350 million, to strengthen its biopharmaceuticals development. Additionally, Eli Lilly is planning to start testing its weight loss treatment candidate in a head-to-head clinical trial against Novo Nordisk’s Wegovy this month.