Billionaire Gores-backed SPAC files for $750 million U.S. IPO

Data center firm Cyxtera to go public via $3.4 billion deal with Starboard SPAC

(Reuters) – Private equity-backed data center provider Cyxtera Technologies Inc said on Monday it has agreed to go public through a merger with blank-check firm Starboard Value Acquisition Corp, in a deal valuing the combined entity at $3.4 billion.

Dish Network Corp. Reports Gain In Q4 Earnings

Dish Network Corp. (DISH) announced a profit for its fourth quarter that increased from the same period last year.

The company’s bottom line came in at $733 million, or $1.24 per share. This compares with $389 million, or $0.69 per share, in last year’s fourth quarter.

Analysts had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 40.7% to $4.56 billion from $3.24 billion last year.

Dish Network Corp. earnings at a glance:

-Earnings (Q4): $733 Mln. vs. $389 Mln. last year.
-EPS (Q4): $1.24 vs. $0.69 last year.
-Analysts Estimate: $0.75
-Revenue (Q4): $4.56 Bln vs. $3.24 Bln last year.

GOP Rep. Mocks Critics On The Right For ‘Censure Frenzy’ Over Trump Impeachment

Rep. Adam Kinzinger (R-Ill.) blasted critics who are upset that he joined nine other Republicans in voting to impeach former President Donald Trump for incitement of insurrection.

The Will County Republican Party in his state announced Saturday that its central committee had voted to censure Kinzinger for the impeachment vote. The group also claimed he was attacking all Trump voters.

On Sunday, Kinzinger took to Twitter to explain his side:

Last month, Kinzinger announced he had launched a political action committee called Country First, which aims to take on Trump loyalists, racists and conspiracy-mongers within the GOP. He heard from numerous supporters online:

What Awaits Citius Pharma In 2021?

Shares of Citius Pharmaceuticals Inc. (CTXR) are up over 20% in pre-market trading Monday as the company looks ahead to a couple of milestones this year.

The company’s lead product candidate is Mino-Lok, an antibiotic lock solution, designed to treat patients with catheter-related bloodstream infections (CRBSIs).

Catheter-related bloodstream infections are very serious, especially in cancer patients receiving therapy through central venous catheters (CVCs) and in hemodialysis patients.

Currently, there are no approved antibiotic lock therapies for the treatment of CRBSIs. The current standard of care is treating with culture-directed systemic antibiotic therapy with the removal of the infected central venous catheter and replacement with a new central venous catheter at a different site. But removal and reinsertion of central venous catheters are said to have a 15% to 20% complication rate, including pneumothorax, misplacement, and arterial puncture.

What are the anticipated milestones that are driving the stock price? Does the company have enough cash to fund its operations?

All this and more in our Biotech Investor page

GSK, Sanofi begin new Covid-19 vaccine trial after setback last year

Britain's GlaxoSmithKline and France's Sanofi on Monday said they had started a new clinical trial of their protein-based Covid-19 vaccine candidate and aim to reach the final testing stage in the second quarter.

If the results are conclusive, the two drugmakers hope to see the vaccine approved by the fourth quarter after having initially targeted the first half of this year.

The move comes after the drugmakers in December said their vaccine would be delayed after clinical trials showed an insufficient immune response in older people.

The new trial will aim at evaluating the safety, tolerability and immune response of the vaccine in 720 healthy adults across the United States, Honduras and Panama, the companies said.   

Sanofi and GSK's candidate uses the same recombinant protein-based technology as one of Sanofi's seasonal influenza vaccines. It will be coupled with an adjuvant, a substance that acts as a booster to the shot, made by GSK.

The study will test two injections given 21 days apart.

Gold Rebounds On Dollar Weakness

Gold prices rose on Monday, rebounding from a more than seven-month low hit in the previous session, as a weakening dollar eclipsed pressure from firmer Treasury yields.

Spot gold climbed 0.8 percent to $1,798.27 per ounce, after having touched its lowest since July 2 at $1,759.29 on Friday. U.S. gold futures were up as much as 1.1 percent at $1,796.30.

The dollar eased against rivals as traders sought currencies with close ties to the global commodities trade due to an improving economic outlook.

The pound hit a new three-year high of $1.4050 in early London trading as the British government’s vaccine drive continued to progress.

U.K. Prime Minister Boris Johnson is to table a “cautious” roadmap in Parliament later today to ease the country out of the strict stay-at-home lockdown in place to control the spread of coronavirus infections.

Meanwhile, benchmark U.S. Treasury yields hit a near one-year high, increasing the opportunity cost of holding non-yielding bullion.

On the stimulus front, U.S. Democrats are fast-tracking the Covid-19 relief bill with the U.S. House of Representatives expected to vote on Biden’s proposed package by the end of the week.

In testimony before the Senate Banking Committee on Tuesday and the House Financial Services panel the following day, Federal Reserve Chairman Jerome Powell will probably play down the risk of inflation.

Billionaire Gores-backed SPAC files for $750 million U.S. IPO

(Reuters) – A blank-check firm backed by billionaire Alec Gores is looking to raise nearly $750 million through an initial public offering (IPO), a regulatory filing showed on Monday.