At-home DNA kit company 23andMe is going public in a SPAC arrangement with VG Acquisition Corp. $VGAC is owned by Richard Branson of Virgin Group, a company that has a strong presence in a dozen industries and businesses. $VGAC popped over 32% in trading today as a result of the interest in the merger. The takeover will value 23andMe, which has reported years of losses and layoffs, at $3.5 billion.
It has been more than 17 years since the FDA approved an Alzheimer’s drug. That’s not to say there hasn’t been an arms race to be the next blockbuster drug for this illness. Shares of Cassava Sciences took off yesterday after releasing promising data from a mid-stage trial. Excitement in $SAVA boiled over into other biotech hopefuls like Anavex Life Sciences. $AVXL has fully enrolled in a late-stage trial and rose over 43% on Thursday.
Esports platform Skillz signed a multi-year agreement with the NFL, sending shares climbing 25%. $SKLZ’s agreement with the NFL is intended to “crowdsource a future mobile esport.” It’s a continuation of a broader trend between conventional players and the ‘new-age’ gaming and esports-related stocks. The $NERD ETF, which holds dozens of gaming and esports companies, is up 90% this year.
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