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Yahoo Finance’s Alexis Christoforous and Brian Sozzi join Michael Gapen, Barclays Chief U.S. Economist to discuss ongoing jobless claims, economic recovery and the bankruptcy of Chuck E. Cheese Parent company.

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The following is a roundup of top developments in the biotech space over the last 24 hours:Scaling The Peaks (Biotech Stocks Hitting 52-week Highs June 24) * ACADIA Pharmaceuticals Inc. (NASDAQ: ACAD) * BioXcel Therapeutics Inc (NASDAQ: BTAI) * Brainstorm Cell Therapeutics Inc (NASDAQ: BCLI) (announced new clinical program focused on the development of NurOwn as a treatment for Alzheimer's disease) * Burning Rock Biotech Ltd (NASDAQ: BNR) (went public June 12) * Cardiff Oncology Inc (NASDAQ: CRDF) * ESSA Pharma Inc (NASDAQ: EPIX) * Five Prime Therapeutics Inc (NASDAQ: FPRX) * Horizon Therapeutics PLC (NASDAQ: HZNP) * IGM Biosciences Inc (NASDAQ: IGMS) * Inovio Pharmaceuticals Inc (NASDAQ: INO) * Kamada Ltd. (NASDAQ: KMDA) * Novavax, Inc. (NASDAQ: NVAX) * Passage Bio Inc (NASDAQ: PASG) * Pliant Therapeutics Inc (NASDAQ: PLRX) * Translate Bio Inc (NASDAQ: TBIO) * Twist Bioscience Corp (NASDAQ: TWST)Down In The Dumps (Biotech Stocks Hitting 52-week Lows June 24) * Genetron Holdings Ltd – ADR (NASDAQ: GTH) (went public Friday) * Vaccinex Inc (NASDAQ: VCNX)Stocks In Focus Merck's Keytruda Approved For Skin Cancer Merck & Co., Inc. (NYSE: MRK) said the FDA as approved Keytruda, its anti-PD-1 therapy, as monotherapy for the treatment of patients with recurrent or metastatic cutaneous squamous cell carcinoma that is not curable by surgery or radiation.In pre-market trading, Merck shares were down 0.65% to $75.38.UniQure Out-Licenses Investigational Late-Stage Hemophilia B Gene Therapy For Up To $2.05B Gene therapy company Uniqure NV (NASDAQ: QURE) said it has entered into a licensing agreement with CSL Behring, providing the latter with exclusive global rights to etranacogene dezaparvovec, uniQure's investigational gene therapy for patients with hemophilia B.The agreement provides for uniQure receiving a $450 million upfront cash payment and potentially up to $1.6 billion in payments based on regulatory and commercial milestones. The company is also eligible to receive tiered double-digit royalties in a range of up to a low-20s percentage of net product sales arising from the collaboration.UniQure said the proposed transaction will provide significant financial resources to advance and expand its pipeline of gene therapy candidates, anchored by AMT-130 in Huntington's disease, and to invest further in its leading gene therapy manufacturing and technology platform to support pipeline growth.The stock was down 16.39% at $52.60 premarket Thursday.La Jolla Agrees To Buy Tetraphase After protracted three-way wrangling, Tetraphase Pharmaceuticals Inc (NASDAQ: TTPH) clinched a definitive merger agreement to be bought by La Jolla Pharmaceutical Company (NASDAQ: LJPC) for $43 million in upfront cash, plus potential future cash payments of up to $16 million pursuant to contingent value rights.Melinta, which had earlier agreed to buy Tetraphase, terminated the agreement, and was paid $1.15 million as a break-up fee.In after-hours trading, Tetraphase shares declined 1.85% to $2.65, while La Jolla gained 2.08% to $4.90.See also: The Week Ahead In Biotech: Karyopharm, Zogenix, Heron, Chiasma On The Radar Ahead Of FDA Decisions Theravance Doses First Patient In Phase 2 COVID-19 Study Theravance Biopharma Inc (NASDAQ: TBPH) said the first COVID-19 patient has been dosed in a Phase 2 study of TD-0903, its lung-selective, nebulized Janus kinase inhibitor in development for the potential treatment of hospitalized patients with acute lung Injury caused by COVID-19.Offerings HUTCHISON CHINA/S ADR (NASDAQ: HCM) announced that it has entered into a definitive agreement for the sale of $100 million of shares at $25 per ADS through a private placement to private equity firm General Atlantic.This fundraise could increase to $200 million through a warrant granted with a term of 18 months for a further $100 million in Chi-Med shares exercisable at a price per share equivalent to $30 per ADS, the company said. Erytech Pharma SA (NASDAQ: ERYP) announced the signing of an agreement with the Luxembourg-based European High Growth Opportunities Securitization Fund for issuing convertible notes valued up to a maximum of 60 million euros ($67.2 million) in the event of conversion of all the notes, subject to the regulatory limit of 20% dilution.View more earnings on IBBErytech said the financing line aims at improving its financial strength and extending its cash horizon for the next key development milestones.Xeris Pharmaceuticals Inc (NASDAQ: XERS) said it has commenced concurrent underwritten public offerings of $20 million in shares of its common stock and $60 million in aggregate principal amount of convertible senior notes due 2025. The company expects the net proceeds to finance the commercialization of Gvoke and repay a $20 million loan, among other things.The stock was down 19.96% at $4.25 premarket. Evelo Biosciences Inc (NASDAQ: EVLO) priced its underwritten public offering of 12 million shares of its common stock at $3.75 per share for gross proceeds of $45 million. All of the shares in the offering are to be sold by the company. The offering is expected to close on or about June 29.The stock was down 8.98% at $3.65 premarket. Nantkwest Inc (NASDAQ: NK) priced its underwritten public offering of 7.41 million shares, with 3.7 million shares to be priced at $9.50 per share and the remaining 3.7 million shares at $12.12 per share to its CEO and principal stockholder Dr. Patrick Soon-Shiong. The aggregate gross proceeds from the offering are expected to be approximately $80.1 million.In after-hours trading, the stock shed 9.39% to $11.Translate Bio said it has commenced an underwritten public offering of $125 million of its common stock. In addition, Shire, a subsidiary of Takeda Pharmaceutical Co Ltd (NYSE: TAK), is offering 6.825 million of its common stock in the offering. The company clarified that it will not receive any proceeds from the shares sold by Shire.Translate Bio shares were down 6.64% at $24.89 premarket Thursday.Magenta Therapeutics Inc (NASDAQ: MGTA) priced its underwritten public offering of 7.5 million shares of its common stock at $8 per share for gross proceeds of $60 million. All the shares earmarked for the offering are sold by the company.On The Radar PDUFA Dates The FDA is set to rule on Zogenix, Inc.'s (NASDAQ: ZGNX) NDA for Fintepla as a potential treatment candidate for seizures associated with Dravet syndrome.Earnings * Aethlon Medical, Inc. (NASDAQ: AEMD) (after the close)Related Link: Evoke Gets FDA Nod For Gimoti, A Nasally-Administered Gastroparesis Drug See more from Benzinga * The Daily Biotech Pulse: MediciNova On Track For European Patent Win, Partial Clinical Hold Lifted For Innate Pharma, Tela Bio Details Coronavirus Impact * The Daily Biotech Pulse: Sanofi Expedites COVID-19 Vaccine Timeline, Apyx Cleared For Market Expansion, Miragen's Positive Readout(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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Wirecard collapsed on Thursday owing creditors almost $4 billion after disclosing a gaping hole in its books in Germany’s worst accounting scandal. The payments company filed for insolvency at a Munich court saying that with 1.3 billion euros ($1.5 billion) of loans due at the end of the month its survival as a going concern was “not assured”. Its implosion came a week after EY, its auditor for over a decade, refused to sign off the 2019 accounts, forcing out Chief Executive Markus Braun and leading Wirecard to admit that $2.1 billion of its cash probably didn’t exist.

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SoftBank Group Corp (OTC: SFTBY) CEO Masayoshi Son announced that he is resigning from the board of Alibaba Group Holding Ltd (NYSE: BABA) on Thursday.What Happened Son announced his resignation from Alibaba's board, effective the same day, at the end of SoftBank's annual shareholder meeting, reported the Wall Street Journal. Son's resignation matches the day on which Alibaba CEO Jack Ma's resignation from Softbank's board comes into effect. Ma had announced his resignation last month. The SoftBank chief executive said he was stepping down of his own volition, and that the parting from Alibaba was smooth. Son made clear that there was no discord with Alibaba.Son had been on Alibaba's board since 2005 and Ma on Softbank's since 2007.Why It Matters In 2000, Son had invested $20 million in Alibaba, which has paid SoftBank handsomely. The investment supports the Japanese group's share price, credit rating, and funding activities, according to WSJ.Last month, SoftBank raised $11.5 billion by selling Alibaba's stock in an effort to bolster its balance sheet. The sale of shares came after its Vision Fund saw a decline in the value of its tech investments. For the financial year spanning April 2019 and March 2020, SoftBank incurred an operating loss of $12.7 billion.Price Action On Wednesday, SoftBank OTC shares closed 4.59% lower at $24.73. On Thursday, the company's shares traded 0.24% lower at $50.24 at press time in Tokyo.Image by WikimediaSee more from Benzinga * Chinese Internet Giant NetEase's Shares Surge In Hong Kong On Debut * Apple Cuts iPhone Prices in China To Push Sales As Country Reopens Economy * Alibaba Invests .4B In AI And Internet of Things Systems For Its Smart Speakers(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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The oil industry’s inroads to cutting supply are “dwarfed by the by the cuts that we’ve seen in demand,” even as states re-open their economies amid the coronavirus pandemic, says one oil expert.

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Under the deal, Catalent will provide manufacturing services for an initial 100 million doses starting in the third quarter at its facility in Bloomington, Indiana. It will also provide other packaging and labeling, storage and distribution services at its facilities in Philadelphia, Pennsylvania to support Moderna’s late-stage vaccine trial, which is expected to begin in July. Drugmakers including Johnson & Johnson and AstraZeneca Plc have also signed agreements to boost manufacturing capacity for their experimental vaccines even before having adequate evidence of their efficacy.

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The once high-flying payments firm Wirecard files for insolvency after a €1.9bn accounting scandal.

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* Founded in 1999, Munich-based Wirecard has 5,800 employees in 26 countries around the world. * Wirecard’s expansion was driven by its long-serving chief executive and leading shareholder Markus Braun, an Austrian who led the company since 2002 until he resigned last Friday. * In Feb. 2019, Singapore police said they were looking into reports by the Financial Times of alleged financial irregularities at Wirecard’s local office, allegations that had driven its shares sharply lower.

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(Bloomberg) — Wirecard AG’s main banks are facing potential losses on about 1.6 billion euros ($1.8 billion) of loans to the scandal-hit fintech after it started insolvency proceedings.A group of about 15 banks led by ABN Amro Bank NV, Commerzbank AG and ING Groep NV had been negotiating next steps with the firm on a 1.75 billion-euro facility that was about 90% drawn, people with knowledge of the matter said earlier this week. Talks on next steps with lenders came to an abrupt halt with the insolvency filing that surprised some of the banks, people with knowledge of the matter said.Wirecard’s decision to file for insolvency caps the swift downfall of the financial firm once lauded as one of Germany’s most successful up and coming businesses. The bank’s descent quickened earlier this week when it said that 1.9 billion euros ($2.15 billion) previously reported as cash on its balance sheet probably doesn’t exist, triggering a collapse in the shares and a criminal investigation. Ex-Chief Executive Officer Markus Braun surrendered to police after an arrest warrant was issued. He’s since posted bail and is no longer in custody.Wirecard’s subsidiary Wirecard Bank is not included in the insolvency proceedings, Bloomberg has reported. Deposits at the bank are insured to an amount of as much as 19.7 million euros per clients, the German banking association said by email.Lenders to Wirecard didn’t terminate the loan and didn’t precipitate the insolvency, people familiar with the matter said. Banks had granted Wirecard a short reprieve, deciding not to force the firm to repay the loans right away while assessing the company’s long-term prospects, Bloomberg has reported.Wirecard also has an outstanding bond worth 500 million euros and a convertible bond worth 900 million euros.(Adds table of bank exposures, details about Wirecard Bank in fourth paragraph. A previous version of this story corrected the day Wirecard announced the start of insolvency proceedings.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

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