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By Staff Reporters
The stock markets ended Q3 last week with a whimper despite new data showing that the Fed’s favorite CPI inflation measure cooled in August. September was the worst month of the year for the S&P 500 and the NASDAQ. But Blue Apron soared on the news that it’s being bought by Wonder Group, a food delivery startup helmed by a former Walmart exec.
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America’s debt today stands at $33 trillion, a figure some politicians, finance mavens and everyday citizens find astonishingly high.
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Carmot Therapeutics, which is developing drugs for diabetes and weight-loss, is reportedly mulling an IPO or possible sale to a large pharmaceutical company at a valuation of at least $1B. The biotech company has two injectable GLP-1 drug candidates in Phase 2 development for type 1 and type 2 diabetes, according to the company’s website.
Carmot enlisted JP Morgan and Bank of America as underwriters on an IPO, which could come as early as this year if market conditions are favorable. The company has also received “takeover interest” from large drug makers at a valuation of over $1B, according to a Bloomberg report. Carmot had a post-money valuation of $1.25B following a $150M funding round in May, Bloomberg added.
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Filed under: "Ask-an-Advisor", Alerts Sign-Up, Breaking News, Drugs and Pharma, Experts Invited, Funding Basics, iMBA, Inc., Investing, Taxation | Tagged: Bank America, Bloomberg, blue apron, budget, budget deficit, Carmot, Carmot Therapeutics, CBOE, CPI, DJIA, DOW, GLP-1, inflation, IPO, JP Morgan, NSDAQ, Russell 2000, S&P 500, US budget, VIX, Walmart, wonder group | Leave a comment »
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