On February 17, 2026, Rock Springs Capital Management disclosed in a U.S. Securities and Exchange Commission (SEC) filing that it sold 159,278 shares of Cogent Biosciences (NASDAQ:COGT), an estimated $4.48 million trade based on quarterly average pricing. What happened According to its SEC filing dated February 17, 2026, Rock Springs Capital Management LP reduced its stake in Cogent Biosciences by 159,278 shares during the fourth quarter. The estimated transaction value was $4.48 million, calculated from ...

Core Insights - AlphaTON Capital Corp. has executed a binding call option agreement with Immunova, allowing Immunova to acquire iOx Therapeutics Limited, a subsidiary focused on developing liposomal iNKT agonists [1][2] Financial Structure - Upon the exercise of the option, AlphaTON will receive an upfront cash payment, equity consideration of 10% of the acquiring entity, milestone payments potentially exceeding $100 million, and single-digit royalties on future net sales [2] Product Development - iOx's lead candidate, PORT-2 (IMM60), has shown promise in advanced melanoma and metastatic NSCLC patients, demonstrating good tolerance and preliminary anti-tumor activity in clinical studies [3][4] Strategic Goals - The transaction is aimed at unlocking value from iOx while allowing AlphaTON to maintain significant participation in future successes through equity stakes and milestone payments [4][5] Management Statements - The CEO of AlphaTON emphasized the importance of this agreement for maximizing value across the portfolio and maintaining a focus on advancing other programs, including a mesothelioma initiative and a new AI-driven biotech project [5] Partnership Benefits - Immunova's CEO highlighted the alignment of their expertise in lipid science with the iOx portfolio, indicating a commitment to a disciplined, biomarker-driven development strategy [5]

Group 1 - The article promotes a weekly newsletter focused on stocks in the biotech, pharma, and healthcare industries, highlighting key trends and catalysts that influence market valuations [1] - Edmund Ingham, a biotech consultant with over 5 years of experience, leads the Haggerston BioHealth investing group, which caters to both novice and experienced investors [1] - The investing group provides insights such as buy and sell ratings, product sales forecasts for major pharmaceutical companies, integrated financial statements, discounted cash flow analysis, and market-specific analyses [1]

Market Overview - The US stock market experienced a decline, with the Dow Jones Industrial Average falling 114.78 points to 49,386.15, the S&P 500 dropping 16.85 points to 6,819.32, and the Nasdaq Composite declining 78.52 points to 22,468.15 [1][26] - This decline marks continued weakness, with the Dow and S&P 500 down in four of the past five weeks [1][26] Investor Sentiment - Concerns about artificial intelligence disrupting major industries, falling oil prices following Iran-US nuclear talks, and uncertainty regarding Federal Reserve rate cuts have negatively impacted investor sentiment [2][26] - The earnings season is nearing its end, with significant corporate reports from Walmart, Constellation Energy, Medtronic, and Palo Alto Networks being closely monitored [2][26] AI and Industry Impact - Investors are increasingly questioning how artificial intelligence will reshape various industries, including wealth management, transportation, logistics, and energy [5][26] - The uncertainty surrounding AI has led to profit-taking across technology and growth stocks, contributing to a 0.35% decline in the Nasdaq and a 0.25% loss in the S&P 500 [8][26] Earnings Reports - Constellation Energy's results are being watched for insights into how AI-driven data center demand is affecting electricity consumption [9][26] - Walmart's upcoming quarterly earnings report is critical as it is the company's first update since reaching a trillion-dollar market cap, with investors focusing on consumer spending trends [11][26] Commodity Market - Commodity markets are experiencing heavy selling pressure, with WTI crude oil down 1.05% to $62.23 and Brent crude declining 0.74% to $66.11 [16][27] - The decline in oil prices may ease inflation concerns but also signals potential demand worries [27] Cryptocurrency Market - The cryptocurrency market is also facing declines, with Bitcoin falling 2.19% to $67,326 and the Nasdaq Crypto Index losing 1.91% to 3,255.42, reflecting a broad-based weakness across digital assets [21][27] Economic Indicators - Upcoming economic data, including the Personal Consumption Expenditures (PCE) inflation index and fourth-quarter GDP, could significantly influence market movements [3][22] - A new analysis from Bank of America highlights a "K-shaped economy," where corporate profits are rising while labor income is falling, indicating potential long-term pressures on consumer spending [24][26]

NEW YORK, Feb. 17, 2026 (GLOBE NEWSWIRE) -- Pomerantz LLP announces that a class action lawsuit has been filed against Inovio Pharmaceuticals, Inc. (“Inovio” or the “Company”) (NASDAQ: INO) and certain officers.   The class action, filed in the United States District Court for the Eastern District of Pennsylvania, and docketed under 26-cv-00803, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired Inovio securities between October 10, 2023 ...

Core Insights - First Turn Management sold its entire stake of 313,733 shares in Arcellx for approximately $25.76 million, as disclosed in an SEC filing on February 13, 2026 [1][2] Company Overview - Arcellx is a clinical-stage biotechnology company focused on developing novel cell-based immunotherapies for cancer treatment, with a diversified pipeline targeting hematologic malignancies and solid tumors [5] - The company has a market capitalization of $3.96 billion, with a revenue of $35.90 million and a net income of -$217.90 million for the trailing twelve months (TTM) [4] Financial Performance - As of February 13, 2026, Arcellx shares were priced at $68.50, reflecting a 7.5% increase over the past year, although this performance lagged behind the S&P 500 by 4.3 percentage points [7] - The company's stock faced pressure due to competitive concerns, particularly related to CAR-T data from Kelonia Therapeutics [9] Investment Implications - The sale of Arcellx shares by First Turn Management suggests a consolidation of conviction in its portfolio, as the fund holds larger positions in other biotech companies [6] - The performance of Arcellx shares, while not catastrophic, indicates a lack of relative strength necessary for a concentrated, high-risk biotech strategy [7]

On February 13, 2026, First Turn Management disclosed a new position in Cogent Biosciences (NASDAQ:COGT), acquiring 824,283 shares worth $29.28 million at quarter’s end. What happened According to a recent SEC filing dated February 13, 2026, First Turn Management disclosed a new purchase of 824,283 shares of Cogent Biosciences. The fund reported the new position at quarter end, with the value reflecting both the initial investment and any market price changes during the period. What else to know This ...

interest. Readers are encouraged to conduct their own independent research and consult qualified financial, legal, medical, or other professional advisers before making any investment or health-related decisions.Forward-looking statements referenced in this article are subject to risks and uncertainties, and actual results may differ materially. Past performance is not indicative of future results.For full disclosures, risk factors, and forward-looking statements, please visit: [https://moonage.media/discla ...

Core Insights - The article discusses the rapid advancements in AI technology and the potential for significant disruption in various industries, as highlighted by Matt Shumer's essay [1][2] - There is a growing divide in perceptions of AI, with some viewing it as a transformative force while others see it as merely assistive [3][4] AI Industry Insights - Shumer warns that the capabilities of AI could lead to massive disruption by the end of the year, suggesting that companies should adopt paid AI tools to stay competitive [2] - Despite the hype around AI, there is a contrasting sentiment among investors, who are largely selling AI stocks amid a broader downturn in tech [4] Canadian Tech and Defence - Canada's Defence Industrial Strategy (DIS) is a $6.6 billion initiative aimed at enhancing domestic companies' roles in rebuilding the armed forces and improving sovereign defence capabilities [6] - The DIS is expected to benefit Canadian tech companies, which are positioning themselves to capture a share of the federal funding allocated to the defence sector [6] Startup Ecosystem - The University of Toronto is recognized as the top university in Canada for entrepreneurs, contributing to job creation and economic growth through its venture-backed startups [5] - Notable startups include Erthos, AmacaThera, and Ada, which are innovating in cleantech, biotech, and AI customer engagement respectively [7] Investment Trends - A report commissioned by the federal government revealed persistent issues in the private sector's feedback regarding the Business Development Bank of Canada, which has not been addressed [5] - The Ottawa e-commerce giant reported record quarterly revenue and a $2 billion USD stock buyback, yet investor sentiment remains cautious [9]

Financial Data and Key Metrics Changes - The company reported Q4 2025 net revenue of $107.1 million, marking a growth of almost 10% compared to the prior quarter and approximately 18% growth year-over-year [26][27] - Year-to-date net revenue for VYJUVEK reached $389.1 million, an increase of approximately 34% compared to full year 2024 revenue [26] - Gross margin for Q4 was 94%, down from 96% in Q3 and 95% in Q4 of 2024, attributed to increased sales outside the U.S. which carry higher costs [27] Business Line Data and Key Metrics Changes - VYJUVEK continues to show strong performance with total net revenue since launch exceeding $730 million [8] - The company added over 50 new prescribers in Q4 2025, reaching over 500 unique prescribers since launch in the U.S. [10] - In Europe, over 90 DEB patients have been prescribed VYJUVEK across Germany, France, and Japan, with ongoing momentum in Germany and France [12][13] Market Data and Key Metrics Changes - The company has signed distributor agreements covering more than 20 countries, aiming to expand to over 40 countries in 2026 [5] - Pricing negotiations in Germany and France are ongoing, with expectations for agreements in the second half of 2026 for Germany and 2027 for France [13][16] - The company has expanded its distributor network to include Israel, enhancing its market presence [16] Company Strategy and Development Direction - The company aims to build a durable commercial gene therapy business with disciplined capital allocation and a focus on expanding global access for VYJUVEK [7] - The strategy includes investing behind measurable execution milestones and advancing a focused pipeline, with plans to initiate two additional registrational programs later this year [6][8] - The company is committed to optimizing processes to support patients and providers, leveraging partnerships with advocacy organizations [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the growth potential from international markets, noting that there are more DEB patients outside the U.S. than within [31] - The company anticipates that revenue may not track linearly with patient counts due to accruals and ongoing pricing negotiations [32] - Management highlighted the importance of registrational programs and expressed optimism about upcoming clinical data readouts [33] Other Important Information - The company ended the year with $955.9 million in combined cash and investments, positioning it well for future commercial launches and pipeline milestones [30] - The company received Fast Track designation for KB111 and RMAT designation for KB707, which can accelerate development timelines [25] Q&A Session Summary Question: Visibility into Q1 and 2026 revenue contribution from U.S. vs. ex-U.S. - Management indicated that while ex-U.S. markets will be the predominant growth driver, demand in the U.S. is also accelerating, with expectations to break out revenue in Q1 [35][36] Question: Data supporting modified dosing regimens for ocular and NK - Management confirmed that the changes were made to enhance patient compliance and convenience, with confidence in the safety profile of the drugs [38][39] Question: Compliance rates in EU and Japan - Management noted that compliance in Europe has been similar to the U.S., but highlighted a potential burden in Japan due to the two-week prescription requirement [42][46] Question: Updates on pricing negotiations in Europe - Management expects to reach a pricing agreement in Germany in the second half of the year, while negotiations in France may extend into the first half of next year [53] Question: Impact of modified dosing regimens on study data - Management confirmed that the data generated to date will be included in the primary analysis, with no changes to the dose volume [73][75]