Amgen shares slip after projections of flat 2021 sales
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Amgen reports rising revenue, warns of flat 2021
Amgen, one of the world’s largest biotech companies, saw rising revenue in the fourth quarter of 2020, but the COVID-19 pandemic could dampen the outlook for the company and its investors in 2021, according to earnings released Feb. 2. The Thousand Oaks-based biotech firm had $6.6 billion in revenue in the fourth quarter, a 7% Read More →
Arcutis stock soars on drug trial news; company announces $150M capital raise
Stock of Arcutis Biotherapeutics, a Westlake Village-based company developing dermatological treatments, shot up more than 30% on Feb. 1 after the company released positive results from a recent clinical trial. Later in the day, Arcutis said it plans to sell $150 million worth of its common stock. Before stock trading opened, the company announced positive Read More →
Stop-and-start reopening starts again
Restaurants are open outdoors again, as California is back under the county-by-county tiered reopening system after more than a month under a stay-at-home order that split the state into five regions. Ventura, Santa Barbara and San Luis Obispo counties are all again in the state’s purple tier, the most restrictive one, as cases in the Read More →
Kate Farms closes Series B round with another $9M
Plant-based meal replacement producer Kate Farms saw a new backer join its series B funding round when it announced Jan. 26 that Main Street Advisors joined Goldman Sachs and Kaiser Permanente Ventures to invest $9 million, closing the round at $60 million. Kate Farms, which is headquartered in Santa Barbara, has told the Business Times Read More →
Inogen names new CEO
Inogen, a medical device company in Goleta that makes portable oxygen concentrators, named a new president and CEO on Jan. 27. Nabil Shabshab, 56, will lead the company starting Feb. 8, Inogen said. He has spent the last nine years with the medical technology company Becton Dickinson and Company, including the past three and a Read More →
California lifts stay-home orders as ICU capacity grows; COVID remains “widespread” in region
California Gov. Gavin Newsom lifted the state’s regional stay-home orders Monday morning, paving the way for the return of outdoor restaurants service and a few other business activities. Ventura, Santa Barbara and San Luis Obispo counties are now back in the “purple” or “widespread” tier of the state’s color-coded pandemic regulations—the most restrictive level, but Read More →
