AstraZenecas CinCor Acquisition Looks a Good Fit
Summary
0832 GMT - AstraZenecas acquisition of U.S.-based biotech company CinCor for an aggregate consideration of up to $1.8 billion looks like a good deal at first glance and strengthens its cardiorenal competencies, Shore Capital says. AstraZeneca PLC said Monday that it has agreed to buy CinCor Pharma, Inc., acquiring global rights to the latters baxdrostat cardiorenal drug for an upfront transaction value of around $1.3 billion. Devolver Digital Inc. said Monday that it has cut its guidance for 2022 adjusted earnings after performance was hit by three underperforming titles and difficult market conditions in December, though it expects revenue to rise. Keller Sees 2022 Operating Profit Below Market Views Due to Financial Reporting Fraud Keller Group PLC said Monday that it expects operating profit for 2022 to be slightly below market expectations after it found financial reporting fraud in one of its Australian business units linked to performance overstatement from 2019 onwards. Capricorn Energy Calls General Meeting for Feb. 1 as Requested by Palliser Capricorn Energy PLC said Monday that it is calling a general meeting for Feb. 1 seeking the removal of seven directors from the board--including Chief Executive Simon Thomson and Nonexecutive Chairwoman Nicoletta Giadrossi--and the appointment of six new members as requested by Palliser Capital Master Fund Ltd. Shares in Frontier Developments PLC fell 41% on Monday after the company said that it expects to report increased revenue for the first half, but that it has lowered its revenue expectations for fiscal 2023 and fiscal 2024 after the underperformance of F1 Manager 2022 during the holiday period.