U.S. markets closed

  • S&P Futures

    3,892.25
    -17.25 (-0.44%)
     

  • Dow Futures

    31,314.00
    -117.00 (-0.37%)
     

  • Nasdaq Futures

    13,555.50
    -77.50 (-0.57%)
     

  • Russell 2000 Futures

    2,206.50
    -11.20 (-0.51%)
     

  • Crude Oil

    59.01
    -1.51 (-2.50%)
     

  • Gold

    1,767.60
    -7.40 (-0.42%)
     

  • Silver

    26.69
    -0.39 (-1.43%)
     

  • EUR/USD

    1.2089
    -0.0009 (-0.07%)
     

  • 10-Yr Bond

    1.2870
    -0.0140 (-1.08%)
     

  • Vix

    22.49
    +0.99 (+4.60%)
     

  • GBP/USD

    1.3958
    -0.0011 (-0.08%)
     

  • USD/JPY

    105.6600
    -0.0300 (-0.03%)
     

  • BTC-USD

    51,376.98
    -639.54 (-1.23%)
     

  • CMC Crypto 200

    1,054.14
    -5.64 (-0.53%)
     

  • FTSE 100

    6,617.15
    -93.75 (-1.40%)
     

  • Nikkei 225

    29,947.42
    -288.67 (-0.95%)
     

Sunstar Americas, Inc. Issues Voluntary Nationwide Recall of GUM® Hydral Dry Mouth Relief Oral Spray Due to Possible Microbial Contamination

·3 min read

CHICAGO, Feb. 18, 2021 /PRNewswire/ -- Sunstar Americas, Inc. (SAI) is voluntarily recalling GUM® Hydral Dry Mouth Relief Oral Spray products bearing an expiration date from 2021-11 through 2022-05 (see specific lots below) to the consumer level. This product may be contaminated with the bacteria Burkholderia cepacia.

The product can be identified as shown in this image:
The product can be identified as shown in this image:

Use of the defective product in the immunocompetent host may result in oral and, potentially, systemic infections requiring antibacterial therapy. In the most at-risk populations, the use of the defective product may result in life-threatening infections, such as pneumonia and bacteremia. To date, no adverse events have been reported to SAI related to this recall.

The oral spray, available through retail, is indicated for use for lubricating, moisturizing, soothing, and refreshing properties to help relieve and manage the symptoms of dry mouth:

  • 1800R/1800RA GUM® Hydral Dry Mouth Relief Oral Spray is distributed in 2.0 fluid ounce Polyethylene Terephthalate (PET) bottles with white polypropylene caps and a separate spray nozzle.

GUM® Hydral Dry Mouth Relief Oral Spray was distributed Nationwide to Grocery and Drug Wholesalers, Grocery and Drug chains, Web distribution and sales, and direct to consumers.

SAI is notifying its direct distributors and customers by USPS Priority mail and is arranging for return of all recalled products. Patients, pharmacies, and healthcare facilities in possession of these products should stop using and dispensing immediately.

Consumers with questions regarding this recall can contact SAI by phone at 1-800-528-8537 or email us.pcr@us.sunstar.com on Monday-Friday from 8am-5pm CST. Consumers should contact their physician or healthcare provider if they have experienced any problems that may be related to using this drug product.

Affected products and lot numbers follow below:

AFFECTED LOTS

SKU#

Lot

Exp

1800R

493538

2021/11

1800R

493539

2021/11

1800R

493540

2021/11

1800R

493541

2021/12

1800R

498339

2021/12

1800R

498340

2021/12

1800R

498341

2021/12

1800R

498342

2021/12

1800R

511571

2022/01

1800R

516383

2022/02

1800R

516384

2022/02

1800RA

C140DD

2022-05

Adverse reactions or quality problems experienced with the use of this product may be reported to the FDA's MedWatch Adverse Event Reporting program either online, by regular mail or by fax.

Sunstar is committed to delivering safe, fully compliant products of the highest quality and is taking necessary steps to prevent future occurrence of this issue.

This recall is being conducted with the knowledge of the U.S. Food and Drug Administration.

About Sunstar Americas, Inc.

Sunstar Americas, Inc., a member of the Sunstar Group of companies, is a global organization headquartered in Switzerland that is a leader in the oral care industry and the manufacturer and distributor of the GUM and Butler Brands.

For more information:

Company Contact:
Greg Belair
847-794-4241
Greg.belair@us.sunstar.com

Contact us:
Phone: 1-800-528-8537
Email: us.pcr@us.sunstar.com

Visit us at: https://www.gumbrand.com/news-announcements

Cision
Cision

View original content to download multimedia:http://www.prnewswire.com/news-releases/sunstar-americas-inc-issues-voluntary-nationwide-recall-of-gum-hydral-dry-mouth-relief-oral-spray-due-to-possible-microbial-contamination-301231407.html

SOURCE Sunstar Americas, Inc.

Latest Stories

  • Bitcoin ETF Roars in Debut With $165 Million of Trading Volume

    (Bloomberg) -- North America’s first Bitcoin ETF got off to a stellar start in its debut, with investors exchanging $165 million worth of shares.After a relentless surge in the world’s largest digital currency, the first Bitcoin product that’s officially labeled an exchange-traded fund debuted Thursday in Toronto. It’s worth noting, though, that Europe has several crypto-tracking products that function like an ETF. The new fund, called Purpose Bitcoin ETF (ticker BTCC), invests directly in “physical/digital Bitcoin,” issuer Purpose Investments Inc. said in a statement.The cryptocurrency has captivated investors from billionaire Elon Musk to hedge-fund moguls including Alan Howard and Paul Tudor Jones. It may well be “the stimulus asset,” DoubleLine Capital LP chief Jeffrey Gundlach tweeted, in a reference to Bitcoin’s rally amid a wave of cash pumped into the financial system during the pandemic. While the digital asset has already surged fivefold in the past year -- spurring concern about a speculative froth in global markets --it’s grabbing more mainstream attention, especially after Tesla Inc.’s recent $1.5 billion purchase.Read: Why a U.S. Bitcoin ETF Could Be a Real Thing in 2021: QuickTakeIt’s unclear how much of the activity in BTCC will result in inflows for the fund, but the trading volumes were well above an ETF’s typical first day in Canada, according to Bloomberg Intelligence analyst James Seyffart. Although too early to tell, ETF proponents argue that such a fund will trade without the massive premiums plaguing many current Bitcoin trusts in the U.S.“There’s sizable untapped interest for a Bitcoin investment that has the benefits of an ETF,” said Todd Rosenbluth, CFRA Research’s director of ETF research, adding it’s unlikely the fund will trade at a significant premium-to-net-asset-value. “While most ETFs come to market globally with an educational hurdle to overcome, many investors are familiar with what is inside BTCC,” he noted.The U.S. currently has several active filings for a Bitcoin ETF, including the ones from VanEck Associates Corp. and Bitwise Asset Management, but the price swings notorious in cryptocurrenies and allegations of industry manipulation remain hurdles to regulator approval. Still, with the world’s largest digital trading near all-time highs and a change of leadership at the Securities and Exchange Commission, analysts say the prospect of a first American Bitcoin ETF appears to be rising.(Adds more context, current volume.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Tesla Slashes Prices As Rivals Make Big Push In EV Market

    Tesla cut the price of base variants of the Model 3 sedan and Model Y sport utility vehicle as competing EV models proliferate.

  • When the next stimulus checks go out, how much will your family get?

    Speaker Nancy Pelosi and other congressional leaders have created a formula for the IRS.

  • Warren Buffett's Berkshire Cuts Apple Stake And Buys These Drugmaker, Telecom Stocks Instead

    Berkshire Hathaway Inc (NYSE: BRK-A) (NYSE: BRK-B) cut its positions in Apple Inc (NASDAQ: AAPL) and piled on stocks of drug, telecom, and oil companies in the latest quarter, according to filings made with the U.S. Securities and Exchange Commission. What Happened: The Warren Buffett-led company shed its Apple stake by 6% to 887 million shares in the quarter, but at the same time has upped its investments in AbbVie Inc (NYSE: ABBV) by 20%, Bristol-Myers Squibb Company (NYSE: BMY) by 11%, and Merck & Co, Inc (NYSE: MRK) by 28%. The conglomerate increased its exposure to T-Mobile US, Inc (NASDAQ: TMUS) by 1.36% to 5.2 million shares and also added 146.7 million shares of Verizon Communications Inc (NYSE: VZ). See Also: Warren Buffett's Berkshire Bets On These Four Drugmakers Amid Pandemic Berkshire picked up a fresh stake of 48.5 million Chevron Corporation (NYSE: CVX) shares and increased its investment in The Kroger Co (NYSE: KR) by 34%. Other changes include a 59% cut in exposure to Wells Fargo & Co (NYSE: WFC) and a 28% cut in Suncor Energy Inc (NYSE: SU) stake. Why It Matters: Apple is still the largest single investment in Berkshire’s portfolio, as of the latest 13F filing, and the investment is worth about $120 billion. See Also: Warren Buffett Called Bitcoin 'Rat Poison' — Now It's Closing In On Berkshire Hathaway's Valuation Apple shares closed nearly 1.6% lower at $133.19 on Tuesday and fell another 0.41% in the after-hours session. In the after-hours trading on Tuesday — AbbVie shares were up 0.42% at $104.64. Bristol-Myers shares rose 0.34% to $59.60. T-Mobile shares rose 0.86% to $123.05. Verizon shares shot up 3.05% to $55.80 in the after-hours trading, while Chevron shares rose 2.54% to $95.50. Wells Fargo shares were down 0.11% in the after-hours. Kroger and Suncor shares remained largely unchanged. Price Action: Berkshire Hathaway Class A shares closed 1.23% higher at $369,333. The company’s class B shares closed 1.15% higher at $245.28 and fell 0.11% in the after-hours session. Photo by Fortune Live Media on Flickr See more from BenzingaClick here for options trades from BenzingaTikTok In Negotiations To Go Public On NYSE: Chinese MediaWhy Apple Getting Increasingly Serious About Making Cars? 'Transportation' Dwarfs 'Smartphone' Market, Says Munster© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Is Palantir Stock a Buy Right Now? This Is What You Need to Know

    Palantir (PLTR) surprised the Street in its latest quarterly report. Unfortunately, the surprise was to the downside after the big data specialist failed to live up to expectations. Investors were left disappointed by a bottom-line miss and the company’s guidance and sent shares down 22% in the subsequent sessions. That’s not to say Palantir’s 4Q20 results were all bad. In the quarter, the company generated revenue of $322.1 million, up 40% year-over-year and beating the estimates by $22 million. However, the company delivered an unexpected loss per share of $0.08, while the Street was was anticipating EPS to be positive at $0.02. For the full year, revenue grew by 47% to $1.1 billion, while average revenue per customer reached $7.9 billion, a 41% year-over-year uptick. Looking ahead to Q1, Palantir anticipates top-line growth of 45% which should see revenue land at $348.87 million, higher than the Street’s $309.47 million forecast. For 2021, the company anticipates revenue growth to stay over 30%. In fact, Palantir believes that 30% growth is doable in each of the next 5 years, culminating in 2025 revenue passing $4 billion. In contrast to the negative reaction, overall, RBC analyst Matthew Hedberg views the latest results as “positive” and thinks the company is heading in the right direction. “Palantir delivered another strong quarter and guided up 1Q just as much. While some may lament the unchanged 2021 guidance, we view that as management balancing a relatively aggressive 5-year view with being sure to not overpromise near term,” the 5-star analyst said. “We believe the modularization of the company's offerings has helped it land more broadly, and likely will help it this year to seed future growth and look for the just announced IBM partnership to drive much stronger distribution in the Commercial space.” Investors might have sent shares down following the fourth quarter results, but it is worth remembering the massive run up the shares had prior to the report’s release. Palantir’s lofty valuation is the reason why Hedberg sticks to a Sector Perform (i.e. Hold) rating. However, the analyst boosted his price target to $27 (from $15), which implies a 7% upside from current levels. (To watch Hedberg’s track record, click here) Overall, the majority on the Street remain Palantir skeptics. The stock has a Moderate Sell consensus rating, based on 2 Buys, 1 Hold and 4 Sells. The analysts expect the share price to stay rang-bound in the coming months, given the average price target currently stands at $25.83. (See PLTR stock analysis on TipRanks) To find good ideas for stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Dow Jones Futures: Stress Test Your Portfolio; Apple, Nio Flash Sell Signals; Roku Leads Earnings Movers

    As the market fights a pullback, it's time to stress test your portfolio. Apple and Nio flashed sell signals. Roku rose on earnings.

  • Biden’s $2 Trillion Green Plan Could Send This Stock Soaring

    One massive project changed the face of America in 1935. But now, Biden’s set to continue this plan 85 years later, creating sweeping changes across the nation

  • Retirement Balances Hit Records, So Do Ranks Of Fidelity 401(k) And IRA Millionaires

    Millions of retirement savings accounts hit record balances in the fourth quarter. The number of IRA and 401(k) millionaires also set records.

  • GameStop shares jumped as Keith ‘Roaring Kitty’ Gill presented bullish thesis to House committee

    GameStop's stock price jumped on Thursday as Keith 'RoaringKitty' Gill provided testimony before the House Financial Services Committee.

  • 2 “Strong Buy” Penny Stocks That Could Rally Over 100%

    Bank of America has a strong reputation for keeping finger on the pulse of the financial world – and one of its key tools is the Global Fund Manager Survey, conducted monthly and seeking opinions from more than 200 hedge fund, mutual fund, and pension fund managers who hold a combined $645 billion in AUM. It’s the largest regularly conducted survey of its kind. And BofA most recent findings show that Big Money is feeling confident. More than 90% of investors surveyed believe that 2021 will show a significant recovery from 2020, that asset allocations to stocks and commodities are at their highest in 10 years, and there’s a general belief that global growth is at an all-time high. So, there is a general consensus that now is the time to invest. The only remaining question is, invest in what? Wall Street pros argue there are early-stage companies that reflect promising opportunities, with the low share prices meaning you get significantly more bang for your buck. What’s more, even what seems like minor share price appreciation can result in massive percentage gains. The bottom line? Not all risk is created equal. To this end, the pros recommend doing some due diligence before making an investment decision. With this in mind, we used TipRanks’ database to find compelling penny stocks with bargain price tags. The platform steered us towards two tickers sporting share prices under $5 and “Strong Buy” consensus ratings from the analyst community. Not to mention substantial upside potential is on the table. ObsEva SA (OBSV) First up is a clinical-state biopharma company with a sharp focus on women’s health. ObsEva is working to develop and commercialize new therapeutics for women’s reproductive health issues – up to and including pregnancy. The company’s lead drug candidate, linzagolix (branded as Yselty), is an orally administered GnRH receptor antagonist that has completed two Phase 3 studies, PRIMROSE 1 in the US and PRIMROSE 2 in both the US and Europe. The clinical trials enrolled 574 and 535 patients, respectively, and used doses of 100mg or 200mg to treat heavy menstrual bleeding associated with uterine fibroids. The results from both studies were positive, supporting Linzagolix's favorable safety and efficacy profile. In an update announced last month, ObsEva reported that, pursuant to Phase 3 results, the European Medicines Agency (EMA) had validated for review the company's Marketing Authorization Application (MAA) for Yselty (100mg and 200mg). Potential MAA approval is anticipated in Q4:21. The drug is also slated to be the subject of a New Drug Application (NDA) that is due to be submitted to the FDA in Q2. With shares changing hands for $3.80 apiece, Wedbush analyst Liana Moussatos sees an attractive entry point for investors. “In our view, Linzagolix has the potential to achieve best-in class oral GnRH receptor antagonist status based on a flexible dosing regimen either with or without the add-back hormone therapy (ABT)—a key differentiator from other GnRH receptor antagonists… Based on the positive PRIMROSE 1 and PRIMROSE 2 primary endpoint results for YSELTY®/UF and additional follow-up data, we project annual sales of more than $750 million in 2027 for Linzagolix/UF,” Moussatos opined. To this end, Moussatos rates OBSV a Buy along with a $28 price target. Should her thesis play out, a potential twelve-month gain of ~643% could be in the cards. (To watch Moussatos’ track record, click here.) Overall, ObsEva has impressed its observers, as shown by the unanimous Strong Buy consensus rating on the shares, based on 3 recent Buy reviews. With a return potential of 342%, the stock’s consensus price target stands at $16.67. (See OBSV stock analysis on TipRanks) BELLUS Health (BLU) The second stock we’re looking at, BELLUS Health, is also a clinical stage biopharma research company – but the focus here is on an issue that few of us ever think about. Hypersensitivity – the state of being highly, or even excessively, sensitive to environmental or foreign stimuli – can cause a range of conditions from a chronic cough to serious disorders. Sometimes, the less severe chronic symptoms can be the worst. Chronic cough and chronic pruritus (itchy skin) are mild to moderate symptoms that can triggered by a range of factors – but when the symptoms don’t go away, they can have a disproportionately negative impact on the quality of life. BELLUS’ lead drug candidate, BLU-5937, is undergoing studies of its efficacy in the treatment of these symptoms. BLU-5937 is a highly selective PsX3 antagonist, working on the P2X3 receptor in the cough reflex pathway. The current clinical trial is a Phase 2b study, the follow-up to the Phase 2 RELIEF trial. The RELIEF trial enrolled 68 patients in the US and UK, of whom 52 completed two test periods. The trial showed a statistically significant cough count reduction in patients with a higher baseline count. The Phase 2b studies, are now enrolling and dosing patients, with interim results expected by mid-year and top line results expected to be published in the fourth quarter. Singing the healthcare name’s praises is RBC Capital analyst Gregory Renza. “With a proven MOA from the clinically successful P2X3 antagonistgefaxipant (MRK), we believe the high selectivity of BLU-5937 could lead to minimal taste effects and drive higher patient compliance and preference than gefapixant, where, if successful, we estimate revenues as early as2024 with over $900M peak global sales potential in RCC with upside from potential label expansion into indications linked to P2X3 hypersensitivity,” Renza noted. ”Despite the PE miss of the ph.II trial in RCC, we believe the stats sig reduction in awake cough frequency in patients with high baseline demonstrated POC and viability of the asset.” It should come as no surprise, then, that Renza joined the bulls. Along with an Outperform rating, the analyst gives the stock an $8 price target. This target conveys his confidence in BLU’s ability to surge ~116% in the next twelve months. (To watch Renza’s track record, click here) Turning now to the rest of the Street, other analysts also like what they’re seeing. With 3 Buys and no Holds or Sells, the word on the Street is that BLU is a Strong Buy. At $8.67, the average price target indicates ~134% upside potential. (See BLU stock analysis on TipRanks) To find good ideas for penny stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.

  • Stocks To Watch: Square Among 7 Stocks Expecting Up To 128% Growth In 2021

    What are the fastest-growing stocks to watch in 2021? Here's a list featuring DocuSign, Square, Daqo and four other stocks expecting up to 128% growth.

  • Why Grayscale And Mark Cuban Bullish On Ethereum At $1,900

    What happened: The second-largest cryptocurrency by market cap, Ethereum (ETH), reached a new all-time high of $1,900 earlier today. This new high means that ETH is officially up 2000% since March 2020, while Bitcoin (BTC) is up by 1200%. Why it matters: In the wake of Bitcoin’s disruption, the second-largest cryptocurrency might have been overlooked by newer investors in the crypto space. However, many analysts and crypto industry proponents believe that at current levels, ETH is undervalued. Institutions are currently choosing to buy more $ETH than $BTC. Couldn't be more clear that they see $ETH as undervalued. https://t.co/7E4dV8lLc6 — James Spediacci ⟠ (@JamesSpediacci) February 12, 2021 Leading digital asset manager Grayscale recently opened its Ethereum trust to accredited investors and has since been buying large amounts of ETH each day. On February 12, the asset management firm bought 52,730 Ethereum, which over $94 million worth of ETH, or $8 million worth of BTC. Institutional buying and the belief of industry proponents aside, the asset did receive some new backing from popular investors. Billionaire tech investor Mark Cuban recently stated that “ETH has an advantage over BTC as a store of value.” The Dallas Mavericks owner is most excited about smart contracts that are developed on the Ethereum blockchain, powering decentralized applications (dApps) and decentralized finance (DeFi). According to Cuban, most of this innovation is happening on Ethereum, which leads him to believe ETH is becoming a better store of value than BTC. See more from BenzingaClick here for options trades from BenzingaEthereum Surpasses Bitcoin To Become Largest Network For 'Trustless' Money Settlement© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • Walmart just dealt a major blow to other retailers

    Walmart is going to invest a ton in its business in 2021. Here's what that means.

  • Why some SPAC investors may get burned

    SPACs raised a record $45 billion in the first two months of the year but investment advisors warn individual investors to be careful they don't get burned.

  • How to Avoid Paying Taxes on Your Social Security

    Social Security benefits can provide an additional income stream in retirement alongside withdrawals from a 401(k), individual retirement account or brokerage account. Part of shaping a retirement plan around Social Security income means planning ahead for taxes. Social Security benefits … Continue reading → The post How to Avoid Paying Taxes on Your Social Security appeared first on SmartAsset Blog.

  • 9 Utility Stocks to Power Your Income Portfolio

    Defensive utility stocks for incomeIt's hard to know what to expect in 2021 as the disruptions and uncertainties of the pandemic continue to run amok and fears of an economic downturn intensify. just suffered its worst economic contraction since 1709, with a massive 9.

  • Verizon (VZ) Could Be Headed for an All-Time High

    Verizon (VZ) has been a steady stock for years, but a breakout is likely in the works as it bounces off a key support level.

  • When to expect your next stimulus check? These dates are key to the timing

    Congress is burning rubber to get a bill to President Biden in a race against time.

  • Palantir Slides With Nearly All Shares Unlocked for Trading

    (Bloomberg) -- Palantir Technologies Inc. declined 7% on Thursday after a flood of shares became eligible to sell for the first time.Nearly all shares are now unlocked for trading, the result of an unusual restriction placed on stockholders when the data software company went public. Such lockups are common after initial public offerings but less so for companies that list their shares directly on an exchange, as Palantir did on the New York Stock Exchange in September.Two longtime investors said in interviews that they will hold, but at least one other, billionaire George Soros, has publicly signaled his plans to exit.Palantir has amassed a long list of shareholders in the nearly two decades since it was founded. But starting in September, only a fifth of their shares could be traded. On Thursday, almost all stockholders got the option to sell as much as they’d like for the first time.The expiration of a lockup is a volatile time for any company but could be especially so for Palantir, which was privately held for an exceptionally long time and which courts a great deal of controversy. Its co-founder and chairman is Peter Thiel, the venture capitalist who backed Donald Trump’s successful bid for the U.S. presidency and became a pariah in Silicon Valley. Palantir, which relocated from the Valley to Denver, works with the military, immigration enforcement and intelligence agencies, all of which draw public scrutiny and howls for surveillance overreach.Soros Fund Management, which revealed in November it began investing in Palantir in 2012 and owned 18.46 million shares, has said it will sell for ethical reasons. The firm said at the time that it had sold all it was able to and “will continue to sell shares as permitted.”“SFM does not approve of Palantir’s business practices,” the firm said in a statement last year. “SFM made this investment at a time when the negative social consequences of big data were less understood. SFM would not make an investment in Palantir today.”Palantir still has plenty of believers. Its tools are used by corporate titans like BP Plc and Merck KGaA as well as governments around the world, nearly a dozen of which are using Palantir to battle Covid-19 and power vaccine distribution. Adit Ventures, which said it holds about $270 million worth of Palantir, told Bloomberg it will sell few, if any, shares on Thursday. Ditto for PHX Financial, which said it holds more than $10 million. Ark Invest has also indicated its support.Palantir’s stock has more than tripled since going public. But the lockup loomed over the company’s quarterly financial report on Tuesday. Despite exceeding analysts’ expectations on revenue and other measures, concerns about growth prospects and the lockup expiration sent the stock falling.Speaking in a prerecorded video shown to investors Tuesday, Chief Executive Officer Alex Karp walks through snowy woods and discusses the perils of technology companies managing for quarterly expectations and “near-term myopism.”Cathie Wood, CEO of Ark Invest, backs that philosophy. “Palantir’s attitude is refreshing,” she said in an interview on CNBC. “It’s exactly how we invest. We want our companies to invest aggressively. We don’t want profits now.”Palantir has now fallen for six consecutive trading days, the longest streak since its September debut(Updates shares in the first paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Ark Invest Backs SPAC Merger For Quantum-Si, A Company Founded By Butterfly Network's Jonathan Rothberg

    A SPAC deal announced Thursday will see a company working on a new protein sequencing on a chip go public. The SPAC Deal: Semiconductor company Quantum-Si is going public in a SPAC merger with HighCape Capital Acquisition Corp (NASDAQ: CAPA). The deal values Quantum-Si at $925 million. An oversubscribed PIPE of $425 million included investment from accounts advised by Ark Invest, the firm led by Cathie Wood. PIPE investors will own 29.1% of the company after the merger. Shares will trade as "QSI" on the Nasdaq if the merger is approved. Current HighCape Capital Acquisition shareholders will own 7.9% of the new company. About Quantum-Si: Planning to launch a chip-based proteomics solution, Quantum-Si believes it can change the protein and genomics markets. Quantum-Si created the first next-gen protein sequencing platform with the goal of revolutionizing the field of proteomics. The company will start by decoding the molecules of life starting with proteins with the potential to expand the scale to genomics. The company is led by Dr. Jonathan Rothberg, who is also the founder of Butterfly Network Inc (NYSE: BFLY). Rothberg founded over 10 companies and is an award winner in the technology and medical fields. Butterfly Network, which is backed by Bill Gates, recently completed its SPAC merger. Related Link: Cathie Wood Adds Longview Acquisition SPAC Ahead Of Deal With Butterfly Network Growth Ahead: A commercial launch for Quantum-Si is scheduled for 2022 beginning with research use. The company is targeting a $21 billion market. Applications for the chips from Quantum-Si could include diagnostic applications and drug discovery. Quantum-Si uses protein to show what is happening instead of DNA which shows what could happen, according to the company’s presentation. The company believes it has a scalable semiconductor chip that could expand to home testing sometime after the year 2024. Financials: Quantum-Si is a pre-revenue company with no revenue anticipated until 2022. The company sees revenue of $17 million in fiscal 2022. The fiscal years of 2023, 2024 and 2025 have respective revenue projections of $49 million, $104 million and $186 million. By 2025, Quantum-Si anticipates it can have over 5,000 devices installed. Price Action: Shares of HighCape Capital Acquisition are up 51% to $15.70 in early Thursday trading. See more from BenzingaClick here for options trades from BenzingaNo 'Zelda: Breath Of The Wild' Sequel Reveal At Nintendo DirectCathie Wood Talks Tesla, Bitcoin, SPACs And More On CNBC: Here Are The Highlights© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.