Albireo Pharma Spikes On Agreement To Be Acquired By Ipsen

Albireo Pharma, Inc. (ALBO) shares are surging more than 92 percent on Monday morning trade on a definitive agreement to be acquired by Ipsen (IPSEY.TO) for $42 per share in cash. The deal is worth $952 million and one contingent value right of $10.00 per share.
The deal mainly targets Albireo’s late-stage Bylvay, a treatment in pipeline for progressive familial intrahepatic cholestasis and other potential rare diseases.

The transaction is expected to be closed by the end of the first quarter of 2023.

Currently, shares are at $44.03, up $92.94 percent from the previous close of $22.82 on a volume of 1,923,788.

I-70 road conditions Colorado: Westbound closed at Eisenhower Tunnel

Interstate 70 westbound is closed at the Eisenhower Tunnel due to a crash just west of the tunnel near Silverthorne.

A detour has been set up through Loveland Pass on U.S. 6 for westbound traffic.

The Colorado Department of Transportation estimates a nine-minute delay due to the closure and has not released an estimated time of reopening.

Eastbound Interstate 70 traffic was also down to one lane in the area due to the crash.

No details about the crash were immediately available.

European Economics Preview: Germany Industrial Output Data Due

Industrial production from Germany and unemployment from the euro area are the top economic news due on Monday.

At 1.45 am ET, the State Secretariat for Economic Affairs is scheduled to issue Swiss unemployment data for December. The jobless rate is forecast to rise to 2.1 percent from 2.0 percent in November.

At 2.00 am ET, Destatis is set to publish Germany industrial production for November. Economists forecast industrial output to grow marginally by 0.1 percent from October, when output was down 0.1 percent.

At 2.45 am ET, foreign trade and current account figures are due. The trade deficit is seen narrowing to EUR 11.3 billion in November from EUR 12.2 billion in October.

At 4.00 am ET, Italy’s Istat publishes unemployment data for November. Economists expect the jobless rate to remain unchanged at 7.8 percent.

Half an hour later, Eurozone Sentix investor confidence survey results are due. The investor sentiment index is forecast to rise to -18.0 in January from -21.0 in December.

At 5.00 am ET, Eurostat is scheduled to issue euro area unemployment for November. The jobless rate is seen unchanged at 6.5 percent.

Emergent BioSolutions Reports Prelim. 2022 Results; Announces Organizational Changes

Emergent BioSolutions (EBS) said it expects fiscal 2022 adjusted net loss of $90 million to $70 million, compared to 2021 adjusted net income of $325.7 million. Prior guidance range was a loss of $100 million to $70 million.

Adjusted EBITDA is anticipated in a range of $20 million to $40 million, a decrease at the midpoint of $487.6 million or 94% as compared to 2021.

Total revenues are expected to be in the range of $1.10 billion to $1.12 billion, a decrease at the midpoint of 38% as compared to 2021. The prior guidance range for revenues was $1.05 billion to $1.10 billion.

Emergent BioSolutions also announced a sharpened strategic focus on protecting and enhancing life through its core businesses, consisting of medical countermeasures and commercial products, including NARCAN Nasal Spray, as well as contract development and manufacturing services. The company announced organizational changes as part of sharpened strategic focus. This includes the elimination of 132 roles related to the S&D consolidation and other organizational changes representing approximately 5% of the current corporate workforce.

Emergent BioSolutions said the actions, in combination with other cost reduction initiatives, are expected to result in annualized savings of over $60 million when fully implemented. The costs associated with these actions are estimated to be approximately $9 million – $11 million and are anticipated to be incurred in the first quarter of 2023.

Tilray Inc. Q2 Earnings Summary

Below are the earnings highlights for Tilray Inc. (TLRY):

Earnings: -$61.635 million in Q2 vs. $5.797 million in the same period last year.
EPS: -$0.11 in Q2 vs. $0.00 in the same period last year.
Excluding items, Tilray Inc. reported adjusted earnings of -$35.306 million or -$0.06 per share for the period.

Revenue: $144.136 million in Q2 vs. $155.153 million in the same period last year.

Kiev Dismisses Russia's Claim Of Killing 600 Ukrainian Soldiers

Ukraine dismissed Russian claim of mass murder of its troops in a weekend attack in the eastern city of Kramatorsk.

The Russian Ministry of Defense said on Sunday that 600 Ukrainian soldiers were killedin a wave of rocket attacks they carried out after a 36-hour Russian-proposed ceasefire ended overnight Saturday.

Multiple media outlets reported that their reporters on the ground could not find any indications to this effect.

But on Monday, the Kremlin insisted on Russian Ministry of Defense statements. Senior Ukrainian military commander Col. Gen. Oleksandr Syrskyi said “the enemy suffered significant losses and once again retreated” as a result of counterattack by Ukrainian forces in the embattled eastern regions of Bakhmut and Soledar in Donetsk.

President Volodymyr Zelensky called them one of the bloodiest places on the front line.

Ukraine’s Kharkiv region came under missile attacks and shelling on Monday. Meanwhile, the Belarusian Defense Ministry announced 17-day Russia-Belarus joint air force exercises in Belarus from January 16.

As a result of a prisoner swap Sunday by Russia and Ukraine, 100 soldiers from both sides reportedly returned to their nations.