Odyssey Therapeutics Inc. shares jumped 11% in its trading debut, after the biopharmaceutical company raised $304 million in an upsized US initial public offering and private placement. The Boston-based company’s shares opened at $20 each on Friday in New York, above its IPO price of $18 apiece. The IPO ended significantly oversubscribed, people familiar with the matter said earlier. The trading g...
Odyssey Therapeutics Inc. shares jumped 11% in its trading debut, after the biopharmaceutical company raised $304 million in an upsized US initial public offering and private placement. The Boston-based company’s shares opened at $20 each on Friday in New York, above its IPO price of $18 apiece. The IPO ended significantly oversubscribed, people familiar with the matter said earlier. The trading gives the company a market value of $945 million, based on the outstanding shares. Odyssey sold 15.5 million shares for $18 each, according to a statement Thursday. The clinical stage biotechnology firm, focused on treating autoimmune and inflammatory conditions, had offered 13.24 million shares for $16 to $18 each. In a concurrent private placement, an affiliate of TPG Life Sciences Innovations bought 1.39 million shares at the IPO price, according to the statement. Founded in 2021, Odyssey is developing therapies to treat patients with autoimmune diseases like ulcerative colitis, Crohn’s disease and lupus. Odyssey plans to use proceeds to advance OD-001, its most advanced drug candidate, to later stage trials. The biotech reported a net loss of $148.6 million for the year ended 2025, compared with a net loss of $129.3 million the year prior, according to the filings. Odyssey had cash and equivalents of roughly $176 million at the end of March, the filings show. For the latest news on equity capital markets activity in the US, Canada and Latin America, follow the channel or visit NI BFWECMUS . To subscribe to ECM Watch , Bloomberg’s daily roundup of news from around the region, click here . The company filed for an IPO in 2025 and withdrew the registration statement a few months later. Odyssey’s offering was led by JPMorgan Chase & Co. , Toronto-Dominion Bank and Cantor Fitzgerald . The company trades on the Nasdaq Capital Market under the symbol ODTX.
Bond yields drop as market fears ease that Labour leader will be replaced by a more leftwing rival Elections 2026 – live updates Business live – latest updates UK government borrowing costs fell and the pound rose on Friday as Keir Starmer vowed to remain as prime minister despite the Labour party losing hundreds of council seats across England. Investors calculated that some of the intense pressu...
Bond yields drop as market fears ease that Labour leader will be replaced by a more leftwing rival Elections 2026 – live updates Business live – latest updates UK government borrowing costs fell and the pound rose on Friday as Keir Starmer vowed to remain as prime minister despite the Labour party losing hundreds of council seats across England. Investors calculated that some of the intense pressure on Starmer’s leadership had eased, as Labour appeared on track for a smaller losses than election experts had predicted . Continue reading...
The S&P 500 Index ($SPX ) (SPY ) today is up +0.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.22%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.32%. June E-mini S&P futures (ESM26 ) are up +0.61%, and June E-mini Nasdaq futures...
The S&P 500 Index ($SPX ) (SPY ) today is up +0.62%, the Dow Jones Industrial Average ($DOWI ) (DIA ) is up +0.22%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is up +1.32%. June E-mini S&P futures (ESM26 ) are up +0.61%, and June E-mini Nasdaq futures...
ipuwadol Goldman Sachs BDC ( GSBD ) dropped 6.7% in Friday midday trading after the business development company backed by Goldman Sachs ( GS ) reported that its net asset value per share declined 3.7% during Q1. Its adjusted NAV per share dipped to $12.17 as of March 31, 2026, compared with $12.61 as of Dec. 31, 2025. That came in below the Visible Alpha consensus of $12.60. Some $0.34 of the dro...
ipuwadol Goldman Sachs BDC ( GSBD ) dropped 6.7% in Friday midday trading after the business development company backed by Goldman Sachs ( GS ) reported that its net asset value per share declined 3.7% during Q1. Its adjusted NAV per share dipped to $12.17 as of March 31, 2026, compared with $12.61 as of Dec. 31, 2025. That came in below the Visible Alpha consensus of $12.60. Some $0.34 of the drop came from net realized and unrealized losses, according to the company's Q1 presentation. Q1 adjusted net investment income per share of $0.22 decreased from $0.37 in Q4 2025 and $0.41 in last year's Q1. Investments on non-accrual status increased to 2.7% of the total investment portfolio in Q1, compared with 2.3% in Q4. More on Goldman Sachs BDC Goldman Sachs BDC 2026 Q1 - Results - Earnings Call Presentation Goldman Sachs BDC: Downside Risks Remain If NAV Growth Doesn't Improve Goldman Sachs BDC's Risky Math: Buying The Discount, Ignoring The Drift Goldman Sachs BDC Non-GAAP NII of $0.22 misses by $0.08, TII of $78.8M misses by $4.98M
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. The three major indexes moved higher Friday after a better-than-expected April jobs report. The Labor Department said nonfarm payrolls increased by 115,000 last month , topping economists' expectations for 55,000. The jobless rate held steady at 4...
Every weekday, the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. ET. Here's a recap of Friday's key moments. 1. The three major indexes moved higher Friday after a better-than-expected April jobs report. The Labor Department said nonfarm payrolls increased by 115,000 last month , topping economists' expectations for 55,000. The jobless rate held steady at 4.3%. Jeff Marks, director of portfolio analysis for the Club, said the report weakens the case for near-term Federal Reserve rate cuts because the labor market remains stable. Jim argued, however, that large parts of the economy tied to housing and traditional consumer spending still need lower rates. "I'm still a believer that the Whirlpool economy is what [incoming Fed Chair Kevin] Warsh will focus on," Jim said, referring to slowing demand across housing-related and lower-end consumer categories. 2. Wells Fargo downgraded Nike on Friday, citing concerns that the company's turnaround could take longer than investors had hoped. Shares of Nike have fallen roughly 30% this year, making the stock the second-worst performer in the Dow. Jim said the retail environment has become increasingly difficult as investors continue to favor AI-related stocks over traditional consumer names. The Investing Club downgraded Nike following the company's most recent quarter, reflecting concerns that improving fundamentals alone have not been enough to lift sentiment across the retail sector. 3. Club holding Qnity Electronics reports Tuesday morning. Its former parent , and fellow Club name, DuPont delivered an impressive beat-and-raise quarter earlier this week. Shares of Qnity continued their strong run Friday and are now up roughly 80% this year. Deutsche Bank recently raised its price target on the stock to $170 from $140, citing continued strength tied to semiconductor demand. Jeff noted that more than 65% of Qnity's business is tied to semiconductors, which positions the company to benef...
Deprivation and inequality are behind the fall in healthy life expectancy, writes George Binette . Plus letters from Sanghamitra Bandyopadhyay , Dr Louise Lawson and Chris Phillipson Helen McCarthy writes that today’s struggle “is the right to live a good, meaningful life, and to live it right to the end” ( Britain pioneered the comfortable retirement – but that golden age is coming to an end, 2 M...
Deprivation and inequality are behind the fall in healthy life expectancy, writes George Binette . Plus letters from Sanghamitra Bandyopadhyay , Dr Louise Lawson and Chris Phillipson Helen McCarthy writes that today’s struggle “is the right to live a good, meaningful life, and to live it right to the end” ( Britain pioneered the comfortable retirement – but that golden age is coming to an end, 2 May ). Ironically, her column appeared days after the Health Foundation reported a notable fall of roughly two years in healthy life expectancy across the UK in the decade between 2012-14 and 2022-24 to below 61 years for both men and women – significantly below the state pension age. Among 21 high-income countries, Britain’s ranking slumped from 14th to 20th against this measure, ahead only of the US. The reasons for this relative and absolute decline are, of course, multifaceted, but there is an undeniable link to relative deprivation. With the state pension age continuing to rise and the Tony Blair Institute effectively calling for abolishing the meagre state pension, Prof McCarthy’s assertion that “the right to retire was yesterday’s struggle,” seems dubious at best. Pensioner poverty in Britain remains widespread and far worse than in France and Italy. Continue reading...