IPO Lockup Expiration Alert: Inozyme Pharma (INZY)
The lockup period of Boston, Massachusetts-based Inozyme Pharma (INZY) ends today, i.e., January 20, 2021.
Inozyme Pharma is a rare disease biopharmaceutical company developing novel therapeutics for the treatment of calcification disorders of the circulatory system, bones, and kidneys.
The company’s lead product candidate, INZ-701, is an enzyme replacement therapy for patients with a variety of calcification disorders linked primarily to Ectonucleotide Pyrophosphatase/Phosphodiesterase 1 or ENPP1 Deficiency and ATP Binding Cassette Subfamily C Member 6 or ABCC6 Deficiency.
Early this month, the company received clearance to initiate a phase I/II clinical trial evaluating INZ-701 in adults with ENPP1 deficiency in the U.S. and United Kingdom. The first subject in the trial is expected to be enrolled in the first half of 2021, with preliminary safety and biomarker data to be provided in the second half of 2021.
Inozyme Pharma made its debut on The Nasdaq Global Select Market on July 24, 2020, offering its shares at a price of $16 each and as mentioned above, the 180 day lockup period expires on January 20.
INZY opened the first day of trading on July 24 at $20.80 and closed at $17.54 that day. The stock has thus far hit a low of $16.10 and a high of $31.65.
INZY closed Tuesday’s trading at $26.32, down 5.66%
Austria Extends Lockdown to Feb. 7 as Virus Mutation Spreads
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Austria will keep its current lockdown in place until Feb. 7, shut restaurants, cafes and hotels for at least all of February and tighten mask and distancing requirements as more infectious coronavirus mutations accelerate the spread of the disease.
The setback for the Alpine country that had planned to lift most measures on Jan. 25 comes as the B117 mutation is suspected to have reached locations including Vienna. Chancellor Sebastian Kurz said the country will now make the more effective FFP2 masks mandatory on public transport and in supermarkets and pharmacies — the only stores still open — and increase the required distance in public places to 2 meters.
The government aims for a seven-day incidence of 50 new cases per 100,000, down from 131 yesterday, to be able to lift the lockdown and reopen schools and stores on Feb. 8, Kurz said. There will be a review in mid-February to see if gastronomy and hotels can resume in March, he said.
Austria entered its current lockdown after Christmas but it’s failed to bring down infections significantly after the holidays.
N Brown Group Issues Q3 Trading Update – Quick Facts
Brown (N.) Group PLC (BWNG.L) said its Group revenue declined 8.8% for the 18 weeks to 2nd January 2021. Product revenue fell 8.9%, during the third quarter. Financial Services revenue was down 8.3%.
The Group continues to trade in line with its expectations and expects to deliver fiscal year 2021 adjusted EBITDA of between 84 million pounds and 86 million pounds. Fiscal year 2021 year-end net debt is now expected to be in the range of 285 million pounds to 305 million pounds.
888 Holdings To Report FY Revenue, Adjusted EBITDA Moderately Ahead Of Prior Outlook
888 Holdings Public Limited Company (888.L) issued a post-close trading update in respect of its results for the year ended 31 December 2020. 888 Holdings said it continued to deliver a strong performance to the end of the year, with both revenue and active customer numbers in December representing all-time monthly records for the Group.
The Board now expects the Group to report revenue and adjusted EBITDA for the year ended 31 December 2020 moderately ahead of its prior expectations.
China-Taiwan threat: Beijing jets breach island defence zone – missile systems deployed
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In Final Hour, Trump Eases Metal Tariffs on One More Nation
Former President Donald Trump, as he left Washington for his home in Florida, issued a proclamation exempting one additional nation from metals tariffs.
The order exempted the United Arab Emirates — which accounted for about a tenth of U.S. aluminum imports last year — from 10% tariffs the Trump administration implemented in 2018, and instead placed quotas on the nation, saying imports would have to remain close to historical levels without meaningful increases. This language issimilar to quotas placed on Canada last year.
The measure makes it “more likely that domestic capacity utilization will be reasonably commensurate with the target level recommended in the Secretary’s report,” the proclamation said. “The United States has an important security relationship with the United Arab Emirates, including our shared commitment to supporting each other in addressing national security concerns in the Middle East, particularly in countering Iran’s malign influence there.”
CRU Group says shipments from the UAE were roughly 11.5% of total U.S. imports last year through November, and about 14% in 2019. In 2019, that accounted for about 10.7% of total U.S. aluminum demand, according to the research group.
Georgia Certifies Twin Senate Runoff Results for Democrats
Georgia election officials on Tuesday certified the results of this month’s runoff elections for two U.S. Senate seats, paving the way for Democrats Jon Ossoff and Raphael Warnock to take office as early as Wednesday.
The announcement came after the Georgia Secretary of State’s office said it has affirmed the results from each of the state’s counties.
The two seats won by Warnock and Ossoff had been held by Republicans David Perdue and Kelly Loeffler, who both conceded defeat following a Jan. 5 runoff.
“And that’s a wrap!,” tweeted Ossoff spokesman Miryam Lipper, upon hearing the certification news.
Senate Democratic leader Chuck Schumer told reporters at the Capitol Tuesday the two Democrats could be sworn in as early as Wednesday.
The twin wins will give the Democratic caucus 50 seats in the Senate, leaving Vice President-elect Kamala Harris to cast any tie-breaking votes and shifting control of the chamber away from the Republican party.