Notable Stock Winners: VALN, TRQ, BALY
3:25 pm Tuesday, January 25th, 2022
Valneva (NASDAQ:VALN) started booster vaccinations in adult participants in its phase 3 trial called Cov-Compare. The trial extension will evaluate a booster dose of VLA2001 in adults aged 18 and above, who received primary vaccination with two doses of VLA2001, and people aged 30 and above who received two doses of AstraZeneca’s AZD1222. The booster shot will be given at least seven months after completion of the primary vaccination series.
Turquoise Hill Resources (NYSE:TRQ) rallies to its highest in eight months after negotiations with Mongolia’s government finally resulted in a deal to allow the delayed underground expansion of the Oyu Tolgoi copper mine to move forward. The agreement with majority owner Rio Tinto (RIO -1.1%) resolves a dispute between the partners on how to split the cost of an expansion, which has been delayed for several years. Mongolia’s parliament approved a resolution that resolves the outstanding issues that have been subject to negotiations during the past two years.
Bally’s Corporation (NYSE:BALY) pops after the casino company receives a takeover offer from Standard General at $38 per share. Standard General was already one of the company’s largest shareholder with a stake of 21%. Standard General says it expects that the Bally’s board will appoint a special committee of independent directors to consider its proposal and make a recommendation. Standard General will not move forward with the transaction unless it is approved by such a special committee. In addition, the transaction will be subject to a non-waivable condition requiring the approval of holders of a majority of the shares of the company not owned by Standard General or its affiliates.
