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The early backers of Afterpay say Square’s blockbuster $39 billion offer makes strategic sense for both companies but warn integration risk will be a key factor to watch as the two payments systems are brought together.
The local market reacted positively to a Square earnings call and briefing on the Afterpay acquisition on Monday night, sending Afterpay up another 12 per cent on the ASX on Tuesday on the back of strong gains by Square in New York.
Afterpay’s Nick Molnar at Thread Togeather’s factory opening. Banksmeadow in February.
The surge in Square’s share price came after the company’s founder and chief executive, Jack Dorsey, told US investors the merger of Square and Afterpay would drive more e-commerce activity across both services, and in spite of criticism of the deal by popular CNBC cable business news pundit Jim Cramer.
Investors buoyed by positive data for Immutepâs immunotherapy
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Small cap immunotherapy biotech Immutep is a step closer to commercialising its leading drug candidate, âeftiâ, after releasing promising data showing the effectiveness of the drug in treating various types of lung, head and neck, and solid tumour cancers.
Immutep CEO Marc Voigt says LAG-3 immunotherapies are now getting noticed by the biotech community.Â
The positive clinical trial data will be a boon for the business, which is already trading up 58.3 per cent for the year-to-date at 66¢, thanks to the growing interest from the global biotech community in the LAG-3 checkpoint, which Immutep is targeting. This interest has been driven by the progress that Bristol Myers Squibb has made with its own LAG-3 immunotherapy.
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