We'll break this one to ya slowly: MySpace just lost all your "next-big-thing" band's music and the pictures you posted from 2003 to 2015 (yes, including the Wonderwall cover).
The better news: The Dow started the week with its 4th straight win, just as the Fed's big policy meeting gets started.
Dermira scores 84% stock boost on positive drug test
How much is clear skin worth?... Wall Street thinks $240M. Dermira's company value jumped by that much Monday on news it cleared a key hurdle in developing a drug to treat Dermatitis. Shareholders are feeling clean and clear and under control.
Sweet ticker symbol — "DERM"... It deals in medical treatments for Atopic Dermatitis, so it's hard to evaluate the biz without a Molecular Biology & Biochemistry degree (that's a real degree). Small bio-tech companies like Dermira also don't even have products (yet), so it's all speculation. Monday's news though improves the prognosis that it could make money someday.
Carpe freaking diem... Fresh off the news, Dermira announced it's issuing new shares to raise new money so it can do the lab work needed to pass Phase III testing. But analysts think the market for atopic dermatitis treatment will be $8B by 2021, so some investors are taking the gamble this drug can work.
Tilray pops on its cannabis beer/medicine moves
Spoiler Alert... Canada's official legalization of pot was really, really good for cannabis producer Tilray. It announced Monday it sold a record 6,478 kilos of the stuff last year (double 2017's). And a third of its product is now used recreationally by Canada Joe and Jane.
Tilray doesn't smoke alone... One of the biggest reveals in Monday's earnings report is that Tilray's putting serious money into a new project with a new partner: Budweiser-owner AB-InBev. They're each tossing in $50M to cook up CBD-infused drinks to replace your Four Loko memories.
Tilray doesn't chill... It's got its hands in so many pot projects worldwide — it's borderline peer-pressure.
- Tilray expanded its partnership with Swiss pharmaceutical icon Novartis to package and ship medicinal cannabis everywhere it's legal.
- Its medical cannabis products are expected to help 100K German patients this year.
- And it's tripling the size of its Greenhouse-cultivated production in Portugal to keep up with all that love across the pond.
What else we’re Snackin’
- CutCord: Disney's ESPN+ gets exclusive rights to UFC Pay Per Views
- Fancy: Prada loses nearly $1B in value as Chinese tourists stop vacay splurging
- Casual: Levi's is IPO'ing (for the 2nd time) on Thursday
- Payday: FIS and Worldpay (Earth's biggest 2 payment processors) are merging in a $43B deal
- Official: Lyft revealed its stock will be priced from $62-$68 and shall trade as "LYFT"
Tuesday
- The Fed's 2-day policy meeting kicks off
- Earnings from FedEx and Tencent Music