Diamonds and Dogs
UniQure N.V. (QURE)
UniQure is on fire today, up 46.85% to $33.57. The biotechnology company saw its shares pop after news that Bristol Myers Squibb would invest in the company. Bristol-Myers will pay approximately $100 million, including an upfront payment of $50 million, a $15 million payment to select two collaboration targets, and a $32 million investment in UniQure for a 4.9% stake in the Dutch company. Bristol-Myers will earn an additional 5% ownership before the end of the year at a 10% premium. Shares of UniQure rallied over $10.00 today to a new 52-week high of $35.50 intraday.
Resonant Inc. (RESN)
Resonant Inc. is crashing today, down 40.46% to $4.40. The radio frequency filter company saw its shares fall after news of its development agreement with its first customer has been terminated. The company said in a statement, "We would like to reiterate that we are on track to develop a filter design for our second customer that we expect to deliver in less than a year. We also expect to complete our prototype tunable filter before year end, as planned." Regardless of the company seeing another customer, investors are nervous that the first customer backed out of the agreement. Shares of Resonant fell nearly $3.00 today and hit a new 52-week low of $4.21 intraday.