WEBVTT - Lilly Gains, Compass Pathways Rises, Fermi Sinks After CEO, CFO Step Down

0:00:02.520 --> 0:00:09.960
<v Speaker 1>Bloomberg Audio Studios, podcasts, radio news, The Stock Movers Report,

0:00:10.280 --> 0:00:13.440
<v Speaker 1>your roundup of companies making moves in the stock market,

0:00:13.680 --> 0:00:16.640
<v Speaker 1>harnessing the power of Bloomberg data. Let just take a

0:00:16.680 --> 0:00:18.000
<v Speaker 1>look at some of the stocks on the move today.

0:00:18.000 --> 0:00:20.759
<v Speaker 2>We can do that with bloom Merchant, Natania, Kney, Javich, Natalia.

0:00:20.760 --> 0:00:23.840
<v Speaker 2>What are you looking at today? Let's start with li Lily.

0:00:24.040 --> 0:00:27.120
<v Speaker 2>The ticket is l l y. Shares are flat actually

0:00:27.240 --> 0:00:29.960
<v Speaker 2>right now, but there's a big announcement. So li Lilly

0:00:30.360 --> 0:00:34.120
<v Speaker 2>agreed to buy Kilonia Therapeutics for about seven billion dollars.

0:00:34.479 --> 0:00:37.920
<v Speaker 2>As a result, it can get access to cutting edge

0:00:37.960 --> 0:00:42.960
<v Speaker 2>treatment for blood cancer. So Kilonia's main drug aims to

0:00:43.000 --> 0:00:45.560
<v Speaker 2>treat patients who have a form of blood cancer called

0:00:46.159 --> 0:00:50.520
<v Speaker 2>multiple myeloma. Now the company is enrolling patients in early

0:00:50.560 --> 0:00:53.880
<v Speaker 2>stage of this trial of this of this drug. So

0:00:53.920 --> 0:00:56.760
<v Speaker 2>we know that Ali Lily is mostly famous for weight

0:00:56.800 --> 0:00:59.360
<v Speaker 2>loss drugs, but it is a big player in cancer

0:00:59.400 --> 0:01:02.920
<v Speaker 2>space as well, after it bought a company called Loxa

0:01:02.960 --> 0:01:07.000
<v Speaker 2>Oncology for about eight billion dollars in twenty nineteen. But

0:01:07.120 --> 0:01:11.800
<v Speaker 2>I have to point out shares are still no Actually,

0:01:11.959 --> 0:01:13.680
<v Speaker 2>it is a pretty good performance. So if you look

0:01:13.720 --> 0:01:17.360
<v Speaker 2>at a twelve month basis up fourteen percent, but on

0:01:17.440 --> 0:01:21.040
<v Speaker 2>a year to date there are some losses. Yep, all right,

0:01:21.080 --> 0:01:23.960
<v Speaker 2>let's stay with the pharmaceutical space. What else do you have? Yeah,

0:01:24.000 --> 0:01:29.240
<v Speaker 2>so I'm watching shares of psychedelic related companies, one of

0:01:29.280 --> 0:01:34.560
<v Speaker 2>them Compas Pathways. The tickers CMPs shares are done by

0:01:34.600 --> 0:01:38.319
<v Speaker 2>almost futy are up excuse me, by almost forty percent.

0:01:38.760 --> 0:01:42.200
<v Speaker 2>It came after President Donald Trump signed an executive order

0:01:43.000 --> 0:01:48.080
<v Speaker 2>to expedite research and access to different substances used outside

0:01:48.120 --> 0:01:52.080
<v Speaker 2>the US to treat post traumatic stress disorder. So this

0:01:52.240 --> 0:01:56.240
<v Speaker 2>applies to psychedelics with the so called breakthrough designation. So

0:01:56.280 --> 0:01:59.880
<v Speaker 2>typically when a company does research trials, then at a

0:02:00.120 --> 0:02:03.760
<v Speaker 2>lies for FDA for an approval. The typical process is

0:02:03.800 --> 0:02:06.960
<v Speaker 2>about six to ten months. Now it's going to be

0:02:07.000 --> 0:02:10.040
<v Speaker 2>one to two months. And analysts, of course see that

0:02:10.240 --> 0:02:13.919
<v Speaker 2>as a big positive signal for those stocks. Okay, one more,

0:02:14.000 --> 0:02:17.440
<v Speaker 2>what do you get? One more? Let's switch to AI space.

0:02:17.480 --> 0:02:22.520
<v Speaker 2>I'm watching shares of for me. The ticker is FRMI.

0:02:22.960 --> 0:02:26.680
<v Speaker 2>Shares are down by more than twenty percent today because

0:02:26.720 --> 0:02:30.960
<v Speaker 2>we got news that CEO and CFO are stepping down.

0:02:31.400 --> 0:02:36.360
<v Speaker 2>So FIRMI is a developer of nuclear power for data centers.

0:02:36.639 --> 0:02:40.440
<v Speaker 2>It is building a massive data center capacity in Texas.

0:02:40.520 --> 0:02:44.639
<v Speaker 2>It wants to power it with nuclear capacity, but there

0:02:44.680 --> 0:02:47.400
<v Speaker 2>is a problem, so the company went to public last September.

0:02:48.240 --> 0:02:51.760
<v Speaker 2>Since then, the stock dropped by more than seventy percent

0:02:52.200 --> 0:02:55.640
<v Speaker 2>and the biggest concern for investors or analysts is that

0:02:55.680 --> 0:02:59.360
<v Speaker 2>it still doesn't have enough tenants and as a result,

0:02:59.440 --> 0:03:02.480
<v Speaker 2>it also lost one of the key anchor tenants, so

0:03:02.639 --> 0:03:03.520
<v Speaker 2>lots of concerns.

0:03:04.600 --> 0:03:08.800
<v Speaker 1>The stockmover's report from Bloomberg Radio. Check back with us

0:03:08.880 --> 0:03:11.680
<v Speaker 1>throughout the day for the latest roundup of companies making

0:03:11.720 --> 0:03:15.360
<v Speaker 1>news on Wall Street and for the latest market moving headlines.

0:03:15.560 --> 0:03:19.560
<v Speaker 1>Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg

0:03:19.600 --> 0:03:22.680
<v Speaker 1>dot com, and on Applecarplay and Android Auto with the

0:03:22.720 --> 0:03:24.080
<v Speaker 1>Bloomberg Business app.