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3 days agoFrom drought to demand: Biotech IPOs roar back with Kailera and Alamar | Fortune
Investors are returning to biotech IPOs, as demonstrated by Alamar Biosciences and Kailera Therapeutics' successful public offerings.
The Board believes Texas legislators, judges, and juries who might make decisions that impact Exxon Mobil are generally more familiar with our business and operations. A new Texas law makes it harder for shareholders to sue companies by requiring a minimum stock ownership to file lawsuits, providing legal protection that serves as the real draw for redomiciliation.
U.S. shale producer Devon Energy will acquire Coterra Energy for nearly $26 billion in a combination that creates a domestic oil and gas juggernaut trailing only household names Exxon Mobil, Chevron, and ConocoPhillips in sheer production volumes, the companies announced Feb. 2. After a couple of years of rapid consolidation in the energy sector, dealmaking slowed down dramatically last year as oil prices fell when OPEC ramped up its output and the Trump administration implemented a series of tariffs worldwide.
Boeing entered 2021 still reeling from the 737 MAX grounding, then faced COVID-19 decimating air travel demand, supply chain failures, a door plug blowout in early 2024, and a machinists' strike that produced just 57 commercial deliveries in Q4 2024. The company burned through cash, piled on debt, and suspended its dividend.
Revenue hit $11 billion, beating the $10.3 billion estimate by roughly 7%. Free cash flow surged from .6 billion last Q4 to $1.8 billion this year. The company doubled its quarterly dividend to $0.50 and raised 2028 revenue guidance to $56 billion, up from prior expectations near $52 billion. Management projects cumulative free cash flow of $24 billion through 2028.
Orna is developing a new treatment that uses circular RNA and specialized lipid particles to prompt a patient's own body to produce the cell therapies needed to fight disease. The technology has the potential to "unlock an entirely new class of genetic medicines and cell therapies for patients who today have limited or no treatment options," said Francisco Ramírez-Valle, senior vice president and head of Immunology Research and Early Clinical Development at Eli Lilly, in a statement.