Short interest for Adagene gives investors a sense of the degree to which investors are betting on the decline of Adagene's stock. Short interest data is updated every two weeks.

Adagene Stock (NASDAQ:ADAG), Short Interest Report

Adagene

Adagene Inc platform-driven, clinical-stage biopharmaceutical company engaged in transforming the discovery and development of novel antibody-based cancer immunotherapies. It is principally engaged in research, development and production of monoclonal antibody drugs for cancers. The company's platform is designed to generate therapeutic antibody candidates with functional epitopes and species cross-reactivity as highlighted by the company's immunotherapy pipeline.

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Shares of TransCode Therapeutics, Inc. (NASDAQ: RNAZ) fell sharply during Friday’s session.

TransCode Therapeutics priced a 5,942,623 share common stock offering at $1.22 per share.

TransCode Therapeutics shares dipped 24.3% to $0.8248 on Friday.

Why TransCode Therapeutics Shares Are Trading Lower By Over 24%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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Kintara Therapeutics, Inc. - Common Stock

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Shares of Airspan Networks Holdings Inc. (NASDAQ: MIMO) shares rose sharply during Wednesday’s session after the company announced a partnership with GCT Semiconductor to develop an RF module.

Airspan Networks Holdings shares surged 381% to $0.3699 on Wednesday.

Why Airspan Networks Shares Are Trading Higher By Over 380%? Here Are Other Stocks Moving In Wednesday&#39;s Mid-Day Session

cancer

Biotech

Health Care

General

Adagene presents results at ASCO 2024 Gastrointestinal Cancers Symposium. ADG126, combined with Merck&#39;s Keytruda, shows limited toxicity, sustained partial responses, and a 22% overall response rate in Colorectal Cancer patients. ADAG shares currently down 47.1% at $2.0.&#34;

Why Is Cancer Focused Adagene Stock Plummeting Today?

Adagene Inc. - ADS, each representing 1.25 ordinary shares

Adagene Inc

Adagio Medical, Inc

Kenvue Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KVUE#NYSE">KVUE</a>) (&quot;Kenvue&quot;) announced today the launch of a secondary underwritten public offering (the &quot;Offering&quot;) of 182,329,550 shares of its common stock (the &quot;Shares&quot;). Kenvue is not selling any shares of common stock and will not receive any proceeds from the sale of the Shares in the Offering or from the debt-for-equity exchange (as described below).
In connection with the Offering, Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is expected to exchange 182,329,550 shares of Kenvue&#39;s common stock for indebtedness of Johnson &amp; Johnson expected to be held by Goldman Sachs &amp; Co. LLC and J.P. Morgan (collectively, the &quot;Selling Shareholders&quot;). Following the debt-for-equity exchange, if consummated, the Selling Shareholders intend to sell the Shares to the underwriters in the Offering. After the completion of the proposed Offering, Johnson &amp; Johnson will no longer own any shares of Kenvue&#39;s common stock.

Offerings

KVUE

Kenvue Announces Launch of Secondary Offering of $182.3M Shares by Selling Stockholders

At a pre-planned analysis, data showed that the primary endpoint of recurrence-free survival (RFS) met the pre-specified futility criteria. A higher rate of discontinuation of all adjuvant therapy by patients in the coformulation arm versus the KEYTRUDA-only arm, primarily due to immune-mediated adverse experiences, rendered it highly unlikely that the trial could achieve a statistically significant improvement in RFS. Based on the recommendation of an independent Data Monitoring Committee (DMC), Merck is unblinding the study and recommends that patients receiving the vibostolimab and pembrolizumab coformulation be offered the option to be treated with KEYTRUDA monotherapy. Data analysis from this study is ongoing. Results will be shared with the scientific community and communicated to regulatory agencies.&nbsp;

Large Cap

Merck Discontinued Vibostolimab And Pembrolizumab Coformulation Arm Of Phase 3 KeyVibe-010 Trial Compared To Keytruda Alone, As Adjuvant Treatment For Patients With Resected High-Risk Melanoma

Emera (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EMRAF#OTC">EMRAF</a>) reported quarterly earnings of C$0.76 per share which beat the analyst consensus estimate of C$0.71 by 7.04 percent. This is a 23.23 percent decrease over earnings of C$0.99 per share from the same period last year. The company reported quarterly sales of C$2.018 which missed the analyst consensus estimate of C$2.101 billion by 100.00 percent. This is a 100.00 percent decrease over sales of C$2.433 billion the same period last year.

Earnings

Earnings Beats

Earnings Misses

EMRAF

Emera Q4 2023 Adj EPS C$0.76 Beats C$0.71 Estimate, Sales C$2.018 Miss C$2.101B Estimate

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates Ocuphire Pharma (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUP#NASDAQ">OCUP</a>) with a Buy and maintains $20 price target.

Price Target

Reiteration

Analyst Ratings

OCUP

HC Wainwright & Co. Reiterates Buy on Ocuphire Pharma, Maintains $20 Price Target

HC Wainwright &amp; Co. analyst Matthew Caufield reiterates 4D Molecular Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FDMT#NASDAQ">FDMT</a>) with a Buy and maintains $36 price target.

FDMT

HC Wainwright & Co. Reiterates Buy on 4D Molecular Therapeutics, Maintains $36 Price Target

HC Wainwright &amp; Co. analyst Ed Arce reiterates Akero Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKRO#NASDAQ">AKRO</a>) with a Buy and maintains $50 price target.

AKRO

HC Wainwright & Co. Reiterates Buy on Akero Therapeutics, Maintains $50 Price Target

Kenvue Filed For Offering Of 182.3M Shares Of Common Stock By Selling Shareholders

Needham analyst Ami Fadia reiterates Merus (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRUS#NASDAQ">MRUS</a>) with a Buy and maintains $66 price target.

MRUS

Needham Reiterates Buy on Merus, Maintains $66 Price Target

HC Wainwright &amp; Co. analyst Andrew Fein reiterates Savara (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SVRA#NASDAQ">SVRA</a>) with a Buy and maintains $6 price target.

SVRA

HC Wainwright & Co. Reiterates Buy on Savara, Maintains $6 Price Target

<div>Planned divestiture of assets relating to the Endpoint Clinical and Patient Access businesses on track, the company said.</div>

Guidance

FTRE

Fortrea Cuts FY24 Revenue Outlook From $3.14B-$3.205B To $2.785B-$2.855B, Est $3.08B

MKS Instruments, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKSI#NASDAQ">MKSI</a>) (&quot;MKS&quot;) today announced that it intends to offer, subject to market and other conditions,&nbsp;$1.0 billion&nbsp;aggregate principal amount of convertible senior notes due 2030 (the &quot;notes&quot;) in a private placement (the &quot;offering&quot;) to persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the &quot;Securities Act&quot;). MKS also expects to grant to the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date MKS first issues the notes, up to an additional&nbsp;$150.0 million&nbsp;aggregate principal amount of the notes. The offering is subject to market and other conditions, and there can be no assurance as to whether, when or on what terms the offering may be completed. 
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MKS intends to use a portion of the net proceeds from the offering to pay the cost of the capped call transactions described below. MKS intends to use the remainder of the net proceeds from the offering to repay approximately&nbsp;$850.0 million&nbsp;in borrowings outstanding under its secured U.S. dollar tranche B term loan, as well as for general corporate purposes. If the initial purchasers exercise their option to purchase additional notes, MKS intends to use a portion of the net proceeds from the sale of such additional notes to enter into additional capped call transactions with one or more of the initial purchasers of the notes or their respective affiliates and/or other financial institutions (the &quot;option counterparties&quot;) and the balance to repay additional borrowings, together with accrued interest, under its secured U.S. dollar tranche B term loan.

MKSI

MKS Instruments Announces Proposed Private Offering of $1B of Convertible Senior Notes

Needham analyst Bernie McTernan reiterates Ibotta (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NYSE">IBTA</a>) with a Buy and maintains $125 price target.

IBTA

Needham Reiterates Buy on Ibotta, Maintains $125 Price Target

Permian Resources Corporation (&quot;Permian Resources&quot; or the &quot;Company&quot;) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PR#NYSE">PR</a>) today announced the commencement of an underwritten public offering of an aggregate 51,765,000 shares of its Class A Common Stock, par value&nbsp;$0.0001&nbsp;per share (&quot;Class A common stock&quot;), by certain affiliates of EnCap Investments L.P., NGP Energy Capital Management L.L.C., Pearl Energy Investments, Riverstone Investment Group LLC and a certain member of the Company&#39;s Board of Directors (collectively, the &quot;Selling Stockholders&quot;).
Permian Resources will not sell any shares of Class A common stock in the offering and will not receive any proceeds therefrom.
Concurrently with the closing of the offering, the Company intends to purchase (the &quot;Concurrent OpCo Unit Purchase&quot;) from certain of the Selling Stockholders an aggregate 1,800,000 common units representing limited liability company interests (&quot;OpCo Units&quot;) in Permian Resources Operating, LLC, a Delaware limited liability company and a subsidiary of Permian Resources (&quot;OpCo&quot;), at a price per OpCo Unit equal to the price per share at which the underwriter purchases shares of Class A common stock in the offering and to cancel a corresponding number of shares of the Company&#39;s Class C Common Stock, par value&nbsp;$0.0001&nbsp;per share, held by such Selling Stockholders. The offering of Class A common stock is not conditioned upon the completion of the Concurrent OpCo Unit Purchase, but the Concurrent OpCo Unit Purchase is conditioned upon the completion of the offering.

Permian Resources Corp Announces Secondary Public Offering of 51.8M Shares, Pricing Details Undisclosed

Japan&#8217;s efforts to strengthen its military, amid rising threats of regional unrest from North Korea and China, are reportedly being hampered by a significant drop in female recruits and an increase in sexual harassment cases within the Self-Defence Forces (SDF).
What Happened: Female applications to the SDF have decreased by 12% in the year ending March 2023, following a series of sexual harassment incidents, Reuters reported on Monday. 
Despite assurances from the defense ministry nine months ago to take stringent measures, it has yet to act on a crucial recommendation from an independent panel to establish a national system for reviewing anti-harassment training standards, according to two ministry officials.
The panel&#8217;s report, released in August, emphasized that the military&#8217;s inadequate harassment education and the absence of centralized oversight of training are contributing to the institution&#8217;s cultural issues.
See Also: <a href="https://www.benzinga.com/news/24/05/38779447/biden-vs-trump-matchup-in-this-traditionally-red-state-shows-republican-partys-lead-could-shrink-due?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Biden Vs. Trump Matchup In This Traditionally Red State Shows Republican Party&#8217;s Lead Could Shrink Due To</a>
The defense ministry has acknowledged the severity of the issue, stating that harassment &#8220;must never be allowed, as it destroys mutual trust between service members and undermines their strength.&#8221; The ministry has been conducting harassment prevention lectures since 2023 and plans to invite specialists to review its training this year.
However, the ministry has not committed to implementing the panel&#8217;s recommendation to centralize oversight of training. The panel&#8217;s review found the ministry&#8217;s current training to be composed of &#8220;generic, superficial statements&#8221; that fall short in real-world scenarios.
The resolution of these issues is crucial as Japan grapples with the weighty legacy of its wartime past and seeks to bolster its military in response to escalating external threats.
Why It Matters: Japan&#8217;s recruitment challenges come at a time when the nation is seeking to strengthen its military capabilities in response to regional security threats. This includes recent initiatives to <a href="https://www.benzinga.com/news/24/04/38178419/biden-kishida-set-new-tone-for-us-japan-ties-with-70-new-initiatives-to-counter-chinas-ambitions">deepen military cooperation</a> with the United States, as highlighted during Japanese Prime Minister Fumio Kishida&#8216;s state visit, where approximately 70 new initiatives were announced to enhance military ties.
Moreover, the urgency for Japan to expand its military presence is underscored by the<a href="https://www.benzinga.com/news/24/04/38358710/kim-jong-uns-north-korea-conducts-fourth-missile-test-in-2024-alarms-south-korea-japan"> ongoing missile tests conducted by North Korea.</a> With the fourth missile test of the year alarming both South Korea and Japan, the need for a robust and inclusive military force is more pressing than ever.
Read Next: <a href="https://www.benzinga.com/news/24/05/38723100/elon-musk-says-2024-will-probably-be-last-election-actually-decided-by-us-citizens-after-dems-oppose?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Elon Musk Says 2024 Will Probably Be &#8216;Last Election Actually Decided By US Citizens&#8217; After Dems Oppose Census Citizenship Question</a>
Image by e-crow via Shutterstock
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Politics

Global

Amid Rising Threats From China, North Korea, Japan's Military Faces Setback Due To Drop In Female Recruits, Increase In Harassment Cases: Report

B of A Securities analyst Curtis Nagle initiates coverage on Ibotta (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBTA#NYSE">IBTA</a>) with a Buy rating and announces Price Target of $117.

Initiation

B of A Securities Initiates Coverage On Ibotta with Buy Rating, Announces Price Target of $117

Fiscal 2024 Full Year&nbsp;Guidance
Mitek is reiterating its previously provided&nbsp;guidance&nbsp;for its fiscal year ending September 30, 2024, as follows:
<ul>
<li>Mitek expects full-year revenue to be between&nbsp;$180.0 million&nbsp;and&nbsp;$185.0 million, a&nbsp;6%&nbsp;growth rate at the midpoint of the range. In fiscal 2023, Mitek signed a large multi-year mobile deposit reorder with one customer that locked in favorable pricing over a four-year period. Due to the unique terms of this contract, Mitek recognized additional license revenue relating to future years of approximately&nbsp;$7.0 million&nbsp;in fiscal 2023. If the Company backs out the future year revenue of&nbsp;$7 million&nbsp;from its fiscal 2023 revenue and attributes the&nbsp;$2.7 million&nbsp;that would have been attributable to fiscal 2024 to the midpoint of the fiscal 2024 revenue&nbsp;guidance, it would represent growth of approximately&nbsp;12.0%&nbsp;at the midpoint.</li>
<li>Mitek expects its non-GAAP operating margin for fiscal 2024 to be between&nbsp;30.0%&nbsp;and&nbsp;31.0%.</li>
</ul>

MITK

Mitek Reiterated FY24 Revenue of $180M-$185M Vs $181.52M Est

HC Wainwright &amp; Co. analyst Robert Burns reiterates Omega Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OMGA#NASDAQ">OMGA</a>) with a Buy and maintains $12 price target.

OMGA

HC Wainwright & Co. Reiterates Buy on Omega Therapeutics, Maintains $12 Price Target

B of A Securities initiates coverage on Centuri Holdings (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CTRI#NYSE">CTRI</a>) with a Neutral rating and announces Price Target of $26.

CTRI

B of A Securities Initiates Coverage On Centuri Holdings with Neutral Rating, Announces Price Target of $26

Technology giant&nbsp;Microsoft Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSFT#NASDAQ">MSFT</a>) reportedly intends to invest €4 billion ($4.3 billion) in constructing cloud and AI infrastructure in France, marking its latest significant expenditure in artificial intelligence technology.
Microsoft aims to train a million individuals and support 2,500 startups&nbsp;by 2027 in France, according to a&nbsp;report from&nbsp;<a target="_blank" href="https://www.bloomberg.com/news/articles/2024-05-13/microsoft-to-invest-4-billion-in-french-cloud-ai-services?srnd=technology-vp&amp;sref=TBDibEcD" rel="noreferrer noopener">Bloomberg</a>.
France prioritizes AI development, with support from national funds and local billionaires,&nbsp;particularly&nbsp;backing companies like&nbsp;Mistral&nbsp;and&nbsp;Kyutai,&nbsp;both&nbsp;established in 2023.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38737635/french-ai-startup-founded-by-former-google-and-meta-researchers-is-up-to-challenge-silicon-valley-do" rel="noreferrer noopener">French AI Startup, Founded By Former Google And Meta Researchers, Is Up To Challenge Silicon Valley Dominance: Report</a>
Microsoft&#8217;s commitment aligns with President Emmanuel Macron's &#8220;Choose France&#8221; summit objective to attract foreign investment and elevate France as a financial center within the EU.
Meanwhile&nbsp;Amazon.com Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) has pledged €1.2 billion for infrastructure&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38783794" rel="noreferrer noopener">and computing projects,&nbsp;joined by&nbsp;56 other initiatives.</a>
Microsoft plans to expand its cloud and AI investments worldwide, including a recently announced €3.2 billion investment in Germany and a $1.5 billion investment in G42, Abu Dhabi.
Read Next:&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38754837/microsoft-challenges-apple-and-google-with-web-based-gaming-store-report" rel="noreferrer noopener">Microsoft Challenges Apple And Google with Web-Based Gaming Store: Report</a>
Microsoft stock has gained about 34% in the past 12 months. Investors can gain exposure to the stock via&nbsp;Technology&nbsp;Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLK#NYSE">XLK</a>) and&nbsp;IShares U.S. Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IYW#NYSE">IYW</a>).
Price Action: MSFT shares are trading higher by 1.03% at $419.00 in premarket at&nbsp;the last check Monday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Media

AMZN

iShares Dow Jones US Technology Sector Index Fund

MSFT

Microsoft's €4B French AI Push: Tech Expansion Reportedly Intensifies

HC Wainwright &amp; Co. analyst Robert Burns reiterates Cogent Biosciences (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COGT#NASDAQ">COGT</a>) with a Buy and maintains $19 price target.

COGT

HC Wainwright & Co. Reiterates Buy on Cogent Biosciences, Maintains $19 Price Target

Lee's Pharma acquired China rights to a heart failure therapy from Windtree Therapeutics. Meanwhile, AstraZeneca signed an investment cooperation agreement with the Taizhou National Medical High-tech Development Zone to build a new production line.

Week in Review: Lee's Pharma Signs $138 Million Agreement For China Rights To Heart Failure Therapy

Week In Review: Lee's Pharm Signs $138M Agreement For China Rights To Heart Failure Therapy

Analysts have been eager to weigh in on the Healthcare sector with new ratings on Abbott Labs (ABT – Research Report), Adagene (ADAG – Research Rep...

Analysts Conflicted on These Healthcare Names: Abbott Labs (ABT), Adagene (ADAG) and Teleflex (TFX)

Redhill Biopharma, Vera Therapeutics among healthcare movers

The market has been high on Adagene Inc (ADAG)  stock recently. ADAG gets a Bullish score from InvestorsObserver Stock Sentiment Indicator. Adagene Inc has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ADAG!See Full ADAG ReportWhat is Stock Sentiment?When making investmen

Should You Buy Adagene Inc (ADAG) Stock After it Has Risen 24.63% in a Week?

Pharma giants turn to China in search of targeted cancer drugs

Adagene, Inc. (ADAG) has released an update. Adagene Inc.'s 2023 financial report reveals a successful year with a cash balance that supports opera...

Adagene's Breakthroughs Promise Future Growth

Adagene ADR Non-GAAP EPS of -$0.21, revenue of $18.11M

Adagene, Inc. (ADAG) has released an update. Adagene Inc. has entered into a sales agreement with Leerink Partners LLC to issue and sell American D...

Adagene Inc. Strikes Deal to Sell Depositary Shares

There's a lot to be optimistic about in the Healthcare sector as 3 analysts just weighed in on eFFECTOR Therapeutics (EFTR – Research Report), Adag...

Analysts Offer Insights on Healthcare Companies: eFFECTOR Therapeutics (EFTR), Adagene (ADAG) and Aquestive Therapeutics (AQST)

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Press Releases

Adagene to Present at Investor and Scientific Conferences in September

Adagene Announces Poster Presentation on Optimal Dose Selection for Masked Anti-CTLA-4 SAFEbody® ADG126 at Upcoming Society for Immunotherapy of Cancer (SITC) 38th Annual Meeting

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Adagene Stock (NASDAQ:ADAG), Short Interest Report

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