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TrueShares Structured Outcome (January) ETF

QIAGEN (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/QGEN#NYSE">QGEN</a>, Frankfurt Prime Standard: QIA)))) today announced the launch of the QIAseq xHYB Mycobacterium tuberculosis Panel for research use, a new tool in the fight against tuberculosis (TB), the world's leading infectious disease killer.
Building on QIAGEN's ongoing efforts to support global TB management and control, which include the leading diagnostics test QuantiFERON-TB Gold Plus, the new panel enables culture-free whole genome sequencing (WGS) directly from samples such as sputum or cerebrospinal fluid. This innovation significantly reduces the time to result and enables real-time epidemiology of TB outbreaks, addressing a critical need in the field of TB surveillance and control.
The QIAseq xHYB Mycobacterium tuberculosis Panel represents a major advancement in solving the problem of bacterial WGS from complex host samples, using next-generation sequencing (NGS). It is designed against the seven major lineages of TB, covering the full breadth of diversity. By eliminating the need for a 4-to-6-week bacterial culture, the panel significantly accelerates the process of obtaining results.
"The introduction of the QIAseq xHYB Mycobacterium tuberculosis Panel reflects our ongoing commitment to address global health challenges like TB and antimicrobial resistance," said Nitin Sood, Vice President, Head of the Life Sciences Business Area at QIAGEN. "This innovative panel not only streamlines the workflow for healthcare professionals and researchers but also enables the real-time tracking of TB outbreaks, a crucial aspect in combating the spread of this devastating disease and managing the growing threat of drug-resistant TB."
"Innovative aspects of this workflow are the whole genome analysis from clinical samples, avoidance of the culturing delay, and inclusion of genetic diversity," stated Daniela Maria Cirillo, MD, PhD, Head of Emerging Bacterial Pathogens Unit at IRCCS San Raffaele Scientific Institute, Milan, Italy.
The QIAseq xHYB Mycobacterium tuberculosis Panel also plays a vital role in the detection and management of antimicrobial resistance (AMR), a growing concern in TB treatment. The panel covers all AMR-related genes, allowing for the identification of resistant TB strains, including multidrug-resistant tuberculosis (MDR-TB), which is caused by bacteria that do not respond to the most effective first-line TB drugs.

Biotech

News

General

QGEN

QIAGEN Expands Tuberculosis Portfolio With New NGS Panel To Support Real-Time Surveillance And Combat Antimicrobial Resistance

Earnings

MORN

Morningstar Q1 Revenue $542.8M, Up 13.2%; Adj. EPS $1.73

Dave &amp; Buster's Entertainment, Inc., (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLAY#NASDAQ">PLAY</a>), ("Dave &amp; Buster's" or "the Company"), an owner and operator of entertainment and dining venues, today announced that it has appointed a new Chief Financial Officer, Darin Harper, who will join the Company on June 17, 2024. The Company's existing Chief Financial Officer, Michael Quartieri, will continue to serve as Chief Financial Officer until June 16, 2024 to ensure a smooth transition to his successor prior to his previously announced retirement. &nbsp;
"I am thrilled to announce the appointment of Darin Harper as our next Chief Financial Officer," said Chris Morris, Chief Executive Officer of Dave &amp; Buster's. "Darin was the obvious choice after an extensive national search for our next CFO. He is an exceptional finance leader and having had the pleasure of working alongside him at various points in my career, I am extremely confident he is the perfect individual to drive our Company's finance team to new heights. His strategic insights, superior track record of execution, and in-depth knowledge of the out-of-home entertainment space will be a huge asset to our Company and allow him to hit the ground running as we accelerate our growth journey in 2024 and beyond."
"Dave &amp; Buster's is an iconic brand and the leader in scaled out-of-home entertainment, with a lot of room for growth," said&nbsp;Darin Harper. "The Company's strategic plan presents a tremendous amount of tangible upside that I look forward to achieving and made for an easy decision to accept the opportunity. I am excited to rejoin Chris and the rest of the talented management team at this important juncture in the Company's trajectory as we work together to deliver meaningful shareholder value."
About Darin Harper
Mr. Harper was previously EVP, Chief Financial Officer for Main Event Entertainment, Inc. From March 2017 through its acquisition by Dave &amp; Buster's in June 2022, overseeing all finance, accounting, legal, risk and audit functions. During his time there, Mr. Harper helped lead the company through significant growth, scaling efficiently while positioning the company for more data-driven analytics, focused on enhancing the guest experience and improving profitability. Contemporaneous with this role, Mr. Harper also served as Group CFO for Main Event's parent company, Ardent Leisure (ASX: CEH), based in Sydney, Australia, from June 2018 through June 2022. Mr. Harper has spent most of his 25+ year finance career in public and private sector multisite consumer, retail, and entertainment brands, including CFO at On the Border Mexican Grill &amp; Cantina and Principal Accounting Officer at Chuck E. Cheese's. Most recently, Mr. Harper was CFO of World Choice Investments, LLC, a leading operator of large, themed family entertainment attractions. Mr. Harper began his career with PricewaterhouseCoopers.

Management

PLAY

Dave & Buster's Appoints Darin Harper As New Chief Financial Officer, Effective On June 17, 2024; Michael Quartieri, Will Continue To Serve As CFO Until June 16, 2024 To Ensure A Smooth Transition

Advanced Vapor Devices (AVD), a premier in the cannabis vaporizer technology sector with a footprint <a href="https://www.benzinga.com/partner/emerging-markets/24/04/38289718/from-providing-cutting-edge-ai-traffic-management-tech-to-helping-manage-it-iteris-could" target="_blank" rel="noreferrer noopener">across over 400 cannabis companies</a> in the U.S. and Canada, has officially rebranded as ACTIVE, marking a new chapter in its industry presence. This change was announced on Wednesday by the company&#8217;s CEO, Alex Kwon, who emphasized that while the brand&#8217;s name has evolved, its core team and commitment to quality remain steadfast.
<h3 class="wp-block-heading">Embracing Innovation And Reflecting Core Values</h3>
&#8220;Over the years, we&#8217;ve grown and nurtured the AVD brand into a symbol of quality, consistency, and innovation in the <a href="https://www.benzinga.com/cannabis" target="_blank" rel="noreferrer noopener">cannabis</a> industry,&#8221; said Kwon in a press release. The rebranding to ACTIVE reflects a strategic move to align the company's identity more closely with its values and the unique qualities of its products. &#8220;Our transition to ACTIVE signifies a bold step forward in our journey. While we're incredibly proud of our history, we are now stepping into a new brand identity. One that is as distinct as the products we create and better reflects our approach to <a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/10/35228569/whos-who-among-cannabis-hardware-vaping-suppliers-zuanic-associates-take-a-deep-div" target="_blank" rel="noreferrer noopener">the industry</a>, our business, people, and values," he added.
Michael Brosgart, president of ACTIVE, also commented on the rebranding, highlighting its significance in meeting client needs and honoring the cannabis plant. &#8220;The rebrand to ACTIVE reflects our proactive approach to meeting the needs of our clients. It also underscores our passion for the beautiful plant and the diverse active compounds we all love,&#8221; Brosgart stated. He expressed gratitude towards their customers for their continued support and partnership, looking forward to progressing together under the new brand identity.
The rebranding to ACTIVE does not signify a change in management or products but rather introduces a renewed brand identity that resonates more profoundly with their values and the <a href="https://www.benzinga.com/topic/vaping">industry direction</a>.
Read also: <a href="https://www.benzinga.com/markets/cannabis/23/08/33865996/bridging-the-gap-in-the-cannabis-tech-industry-meet-the-woman-vp-redefining-standards-in-the-vap" target="_blank" rel="noreferrer noopener">Bridging The Gap In The Cannabis Tech Industry: Meet The Woman VP Redefining Standards In The Vaping Industry</a>
Image courtesy of ACTIVE.

Cannabis

New Name, Same Quality: Cannabis Vapor Tech Leader AVD Rebrands As ACTIVE

Guidance

Chipotle Mexican Grill Exec Says Anticipate Second Quarter Comps To Be The Highest Of The Year

ATEK

Athena Technology Acquisition Corp. II Announces Receipt of Notice of Non-Compliance with NYSE American Continued Listing Requirements

WIIM

ACRV

Acrivon Therapeutics shares are trading higher after the company reported initial clinical data for ACR-368 and pipeline program progress today at a corporate R&D event.

ADT Appoints Jeff Likosar As CFO

Events

NKGN

NKGen Biotech Announces Upcoming Publication At 2024 ASCO Annual Meeting

Great Lakes Dredge &amp; Dock Corporation ("Great Lakes" or the "Company") (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GLDD#NASDAQ">GLDD</a>), the largest provider of dredging services in&nbsp;the United States,&nbsp;announced that it has entered into a $150,000,000 5-year, senior secured second-lien credit agreement ("Second Lien Credit Agreement") with Guggenheim Credit Funding, LLC, on behalf of one or more clients. The Company borrowed $100,000,000 under the Second Lien Credit Agreement on the Closing Date and has the option to draw an additional $50,000,000 for a period of 12 months following the closing date of the initial loan. The loans under the Second Lien Credit Agreement funded on the Closing Date were used to repay amounts outstanding under the ABL Credit Agreement and to pay fees associated with the transactions and will be used to fund upcoming newbuild payments. The delayed draw portion of the term loans, if funded, will be used to fund future newbuild payments, ongoing working capital and other general corporate purposes.
The Second Lien Credit Agreement contains customary representations and affirmative and negative covenants as well as customary events of default. The obligations under the Second Lien Credit Agreement are secured on a second-priority basis by substantially all of the Company's assets. Further details on the terms of the Second Lien Credit Agreement can be found in the Company's Form 8-K for the Second Lien Credit Agreement which will be filed within the next four business days.

Financing

GLDD

Great Lakes Announces New $150M Second-Lien Financing Agreement

- $240 million private placement financing led by RA Capital Management with significant participation by Bain Capital Life Sciences as well as BVF Partners and Canaan Partners to fund Phase 2b clinical trial
- CD388, which is active against all strains of influenza A and B, is being developed for pre-exposure prophylactic treatment
- Company to host business strategy update conference call and webcast today at 4:30 PM ET
SAN DIEGO, April 24, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>), a biotechnology company using its proprietary Cloudbreak&#xAE;&nbsp;platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that it has entered into a definitive agreement with Johnson &amp; Johnson1 to reacquire the exclusive global development and commercial rights to CD388, which is in development for the prevention of all strains of influenza A and B.
Concurrent with the acquisition, Cidara closed a definitive agreement for the sale of preferred stock in a private placement led by RA Capital Management, with significant participation from Bain Capital Life Sciences, Biotech Value Fund (BVF), and Canaan Partners. The private placement provides $240 million in gross proceeds that will be used by Cidara to develop CD388 as a universal preventative against seasonal and pandemic influenza A and B, beginning with a Phase 2b clinical trial in the upcoming Northern Hemisphere influenza season. The proceeds from the private placement fund the upfront payment under the agreement with Johnson &amp; Johnson and are expected to provide runway beyond topline data from CD388's Phase 2b trial.
CD388 is a long-acting antiviral investigational drug invented and developed by Cidara that became the subject of an exclusive worldwide license and collaboration agreement established with Johnson &amp; Johnson in April 2021. In September 2023, Johnson &amp; Johnson delivered to Cidara an Election to Proceed Notice and associated milestone payment for CD388 before beginning a process to transfer its rights and obligations under the agreement to another entity.
In connection with the private placement, Laura Tadvalkar, Ph.D., Managing Director at RA Capital Management, Ryan Spencer, and James Merson, Ph.D. have been appointed to Cidara's board of directors, while David Gollaher, Ph.D. and Timothy Franson, M.D. will be stepping down. "I thank David and Tim for their invaluable contributions, which have helped facilitate this opportunity for Cidara," said Jeffrey Stein, Ph.D., President and Chief Executive Officer of Cidara.
Dr. Stein continued, "This reacquisition of CD388, along with the capital to advance it through Phase 2b development, is transformational for Cidara and especially for those who could benefit from a long-acting, universal preventative against all forms of influenza. In our Phase 2b study later this year, we will evaluate the efficacy and safety of CD388 in providing season-long, universal protection from influenza. We believe that CD388 may have significant advantages beyond and in addition to flu vaccines, with the potential for universal protection even in the absence of a robust immune response and without the requirement for seasonal influenza strain prediction."
All responsibility for future development, manufacturing, and commercialization activities of CD388 will be assumed by Cidara. In exchange for reacquiring the exclusive global development and commercial rights to CD388, Johnson &amp; Johnson has received from Cidara a one-time upfront payment of $85 million and is eligible to receive potential additional development, regulatory, and commercial milestone payments.
"We have followed the development of CD388 over time with great interest," said Dr. Tadvalkar. "As stage-agnostic company builders, we were excited to catalyze this reacquisition and financing – and to leverage the company-building capabilities of our RAVen incubator to support Cidara."
"The support from this top-tier syndicate of new and existing investors highlights our enthusiasm and potential for CD388, the most advanced member of our Cloudbreak DFC pipeline and the new focus of the company," added Dr. Stein. "We expect that the capital infusion from this financing, together with existing cash and the expected near-term cost savings associated with our recently announced divestiture of rezafungin to Mundipharma, positions us well to execute on the CD388 development program and advance the key assets in our pipeline."

Offerings

CDTX

Cidara Therapeutics Reacquires Global Development And Commercial Rights To CD388 From Johnson & Johnson For A One Time Payment Of $85M; Announces Private Placement Financing Of $240M

Amedisys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMED#NASDAQ">AMED</a>) reported quarterly earnings of $1.03 per share which beat the analyst consensus estimate of $1.02 by 0.98 percent. The company reported quarterly sales of $571.400 million which beat the analyst consensus estimate of $565.380 million by 1.06 percent. This is a 2.70 percent increase over sales of $556.389 million the same period last year.

Earnings Beats

AMED

Amedisys Q1 2024 Adj EPS $1.03 Beats $1.02 Estimate, Sales $571.400M Beat $565.380M Estimate

ChoiceOne Finl Servs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COFS#NASDAQ">COFS</a>) reported quarterly earnings of $0.74 per share which beat the analyst consensus estimate of $0.59 by 25.42 percent.

COFS

ChoiceOne Finl Servs Q1 2024 GAAP EPS $0.74 Beats $0.59 Estimate

Live Oak Bancshares (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LOB#NYSE">LOB</a>) reported quarterly earnings of $0.36 per share which missed the analyst consensus estimate of $0.45 by 20 percent. This is a 3500 percent increase over earnings of $0.01 per share from the same period last year. The company reported quarterly sales of $116.208 million which missed the analyst consensus estimate of $116.660 million by 0.39 percent. This is a 14.38 percent increase over sales of $101.596 million the same period last year.

Earnings Misses

Live Oak Bancshares Q1 2024 GAAP EPS $0.36 Misses $0.45 Estimate, Sales $116.208M Miss $116.660M Estimate

<div>Adjusted EBITDA&nbsp;for the full year 2024 is now expected to be in the range of&nbsp;$190 million&nbsp;to&nbsp;$200 million.</div>
<div>&nbsp;</div>
<div>&quot;We are revising our Fiscal Year 2024&nbsp;guidance&nbsp;to reflect the softer than expected&nbsp;first quarter&nbsp;results and our current expectations for the balance of the year,&quot;&nbsp;Brad Martin, ATN Chief Executive Officer said.</div>

ATNI

ATN Cuts FY24 Revenue Forecast, Excluding Construction Revenue, From $750M-$770M To $730M-$750M; Est $764.537M

SIEB

Siebert Receives Nasdaq Deficiency Notification For Delayed Filing Of Annual Report On Form 10-K

<ul>
<li>Transaction provides company with an estimated approximately $128 million in cost savings, including approximately $67 million in clinical development and CMC costs over the next three years and an additional approximately $61 million in forecasted obligations through the patent life of rezafungin</li>
<li>Cidara to further focus on advancing Cloudbreak development programs, including a planned IND filing for its lead oncology candidate, CBO421, as well as advancing other pipeline assets &nbsp;</li>
</ul>
SAN DIEGO, April 24, 2024 (GLOBE NEWSWIRE) -- Cidara Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDTX#NASDAQ">CDTX</a>), a biotechnology company using its proprietary Cloudbreak&#xAE;&nbsp;platform to develop drug-Fc conjugate (DFC) immunotherapies designed to save lives and improve the standard of care for patients facing serious diseases, today announced that it has entered into an asset purchase agreement with its current partner, Mundipharma&#x2A;, for the divestiture of rezafungin. Mundipharma currently has commercial rights to rezafungin outside the U.S. and Japan. Mundipharma purchased the assets in consideration of its assumption of the ongoing obligation to conduct and fund the ReSPECT Phase 3 clinical trial, the costs of the rezafungin patent portfolio and CMC and regulatory obligations. Cidara estimates that it will achieve approximately $128 million in cost savings over the patent life of rezafungin comprised of approximately $67 million in clinical development expense, including the cost of the potential upsizing of the ReSPECT trial and CMC costs over the next three years, and an additional approximately $61 million in forecasted obligations through the expected patent life of rezafungin.
"We are proud to have advanced rezafungin from preclinical development to approval in the US, EU, and UK for the treatment of patients suffering from life-threatening fungal infections," said Jeffrey Stein, Ph.D., president and chief executive officer of Cidara. "With that accomplished, we believe the substantial cost savings enabled by this transaction will enable us to deploy our capabilities to progress our promising Cloudbreak pipeline and create opportunities to advance potentially transformational new therapies in oncology and other disease areas."
Under the terms of the asset purchase agreement, all future royalties and milestones from Mundipharma and Melinta Therapeutics that were previously payable to Cidara, will transfer to Mundipharma. The purchased assets also include all rezafungin intellectual property rights, product data, regulatory approvals, rezafungin product and comparator inventory, specified prepaid assets and specified contracts. Prior to the sale, Mundipharma paid Cidara the $2.786 million milestone that became payable for the approval of rezafungin acetate for the treatment of invasive candidiasis in adults by the United Kingdom Medicines and Healthcare products Regulatory Agency. Mundipharma also agreed to waive Cidara's obligation to reimburse Mundipharma for a $11.145 million milestone advance if Cidara completes transition services and the transfer of assets in accordance with the definitive agreements.
&#x2A;Assets and rights acquired by Napp Pharmaceutical Group Limited, a member of the international network of Mundipharma independent associated companies.

Asset Sales

Cidara Therapeutics Announces Divestiture Of Rezafungin To Mundipharma To Focus On Advancing The Clinical Development Of Cloudbreak DFC Pipeline; Transaction Provides Company With An Estimated ~$128M In Cost Savings

First American Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FAF#NYSE">FAF</a>) reported quarterly earnings of $0.45 per share which missed the analyst consensus estimate of $0.59 by 23.73 percent. This is a 21.05 percent decrease over earnings of $0.57 per share from the same period last year. The company reported quarterly sales of $1.425 billion which missed the analyst consensus estimate of $1.430 billion by 0.32 percent. This is a 1.45 percent decrease over sales of $1.446 billion the same period last year.

First American Financial Q1 2024 Adj EPS $0.45 Misses $0.59 Estimate, Sales $1.425B Miss $1.430B Estimate

ServiceNow, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>) reported its first-quarter financial results after the bell Wednesday. Here's a <a href="https://www.benzinga.com/pressreleases/24/04/b38415464/servicenow-reports-first-quarter-2024-financial-results">look at the highlights</a>.
The Details:
ServiceNow reported quarterly earnings of $3.41 per share which beat the analyst consensus estimate of $3.14 by 8.6%. 
Quarterly sales came in at $2.6 billion which beat the analyst consensus estimate of $2.59 billion and represents a 24.19% increase over sales of $2.1 billion from the same period last year.
The company reported subscription revenues of $2.523 billion in the first quarter, representing 25% year-over-year growth, 24.5% in constant currency. ServiceNow highlighted recording eight transactions over $5 million in net new ACV in the first quarter, up 100% year-over-year. 
&#8220;ServiceNow is off to a fast start with an outstanding first quarter,&#8221; said ServiceNow CEO Bill McDermott. &#8220;As leaders seek significant productivity improvements, ServiceNow has first mover advantage with years of investment in AI technology and talent. Our GenAI offerings are the fastest selling in the company&#8217;s history. We are humbled by the trust our customers are investing in our platform. As we engineer Now Assist AI into every business workflow across every enterprise, we are giving people the power to know more, care more, and do more.&#8221;
Outlook:&nbsp;
ServiceNow sees second-quarter adjusted subscription revenue growth of 22%. 
The company initiated a program to hedge a portion of its forecasted foreign currency denominated revenues. While the cash flow hedging program is designed to reduce the impact of foreign currency exchange rate fluctuations on its subscription revenues, the strengthening of the U.S. Dollar since December 31, 2023 has still resulted in an adverse impact to its 2024 guidance. 
The company expects negative 2-point impact to its second-quarter cRPO growth, as the balance of its U.S. Federal business contracts containing 12-month renewal terms amortized into revenue.
Related News: <a href="https://www.benzinga.com/news/24/04/38407505/whats-going-on-with-advanced-micro-devices-stock">What&#8217;s Going On With Advanced Micro Devices Stock?</a>
NOW Price Action: According to <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzinga Pro</a>, ServiceNow shares are down 4.91% after-hours at $709.75 at the time of publication Tuesday.
Image: Shutterstock

Movers

ServiceNow Reports Q1 Results and Q2 Guidance, Shares Fall

RTX's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RTX#NYSE">RTX</a>) short percent of float has fallen 14.43% since its last report. The company recently reported that it has 34.63 million shares sold short, which is 2.61% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.8 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>RTX Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713991521_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for RTX has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing RTX's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, RTX's peer group average for short interest as a percentage of float is 2.39%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.