Codiak BioSciences Voluntarily Files For Bankruptcy Protection

RTTNews | 943 dni temu
Codiak BioSciences Voluntarily Files For Bankruptcy Protection

(RTTNews) - Biopharmaceutical company Codiak BioSciences, Inc. (CDAK) announced Monday that it has voluntarily filed for protection under Chapter 11 of the U.S. Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware and will seek to pursue a sale process for its assets which is intended to maximize the value of the Company.

The Company began a marketing process ahead of the Chapter 11 filing to determine the level of market interest and is in ongoing discussions with several parties.

The Company expects to consummate a sale of the entire business or its core assets as soon as reasonably practicable.

In connection with the filing, Codiak has appointed Paul Huygens, Principal at Province, LLC, as Chief Restructuring Officer. Huygens will oversee the business and its restructuring process, working to execute the Company's business strategy and conduct a value-maximizing sale process.

The Company will be filing various "First-Day" motions with the Bankruptcy Court requesting customary relief that will enable the Company to transition into Chapter 11 without disruption to its ordinary course operations. Codiak expects these motions to be approved within the first few days of the case.

read more
Russia Central Bank Cuts Rates For Fourth Policy Session

Russia Central Bank Cuts Rates For Fourth Policy Session

Russia's central bank unexpectedly reduced its key interest rate for the fourth policy session in a row, citing high inflation expectations and lackluster growth, and signaled that monetary policy will remain tight for an extended period of time.
RTTNews | 17g 58 minut temu
Canadian Market Rises On Rate Cut Bets

Canadian Market Rises On Rate Cut Bets

The Canadian market is up firmly in positive territory Friday afternoon, thanks to strong gains in the technology sector. A few stocks from financial and communications sectors are also up with notable gains.
RTTNews | 20g 26 minut temu
Swiss Market Ends Marginally Up After Choppy Ride

Swiss Market Ends Marginally Up After Choppy Ride

The market started off on a positive note on Friday but slipped into the red around mid morning and then struggled for direction till the end with stocks swinging between gains and losses amid cautious moves by investors.
RTTNews | 20g 56 minut temu
European Stocks Close Higher After Cautious Session

European Stocks Close Higher After Cautious Session

Despite struggling for support till mid afternoon, European stocks edged higher on Friday after cooler-than-expected U.S. consumer price inflation raised prospects of an interest rate cut by the Federal Reserve next week.
RTTNews | 21g 21 minut temu
U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than initially estimated in the month of October. The University of Michigan said its consumer sentiment index was downwardly revised to 53.6 from the preliminary reading of 55.0. Economists had expected the consumer sentiment index to be unrevised from the preliminary reading.
RTTNews | 1 dni temu
U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September. The Labor Department said its consumer price index rose by 0.3 percent in September after climbing by 0.4 percent in August. Economists had expected consumer prices to rise by another 0.4 percent.
RTTNews | 1 dni temu
Eurozone Private Sector Growth At 17-Month High

Eurozone Private Sector Growth At 17-Month High

The euro area private sector growth accelerated to a 17-month high in October as new orders registered a steeper growth despite continuing fall in business from abroad. The flash HCOB composite output index climbed unexpectedly to 52.2 in October from 51.2 in September. The reading was expected to fall to 51.0.
RTTNews | 1 dni temu