Innovent Biologics (1801.HK) and Pfizer (PFE) entered a $10.5 billion agreement to jointly develop 12 cancer treatment programs, the South China Morning Post reported. The agreement includes eight early-stage trials from Innovent and four discovery programs from Pfizer.
The deal follows recent insider selling at MicroStrategy (MSTR), ARM Holdings (ARM), Coinbase (COIN), Amazon (AMZN), and Alphabet (GOOGL) reported earlier this week, according to SEC filings. The filings did not coincide with earnings announcements or revised guidance from the companies, the filings showed.
In other news, the USPS secured a $10 billion deal for last-mile delivery with DHL eCommerce, AP reported. This follows a UK recall alert issued for a car seat base posing injury risks to children, according to The Guardian.
A flash crash on Hyperliquid liquidated $1.5 million from SpaceX pre-IPO contracts, CoinDesk reported. The 45% crash occurred because the market lacked enough cash to absorb the shock, according to CoinDesk. Blue Origin's New Glenn rocket exploded on the launch pad, DW World reported.
Anthropic unveiled a new flagship AI model that is better at coding, according to Moneycontrol.com. Al Jazeera reported that Anthropic has soared to a $965 billion valuation, leapfrogging OpenAI.