Novo, BioMarin, Enanta dole out pink slips
Follow along as BioSpace tracks job cuts and restructuring initiatives.
In the blogs: Help from Uncle Sam
The audit letter; race-conscious policies; long-short strategy; and other highlights from our favorite tax bloggers.
CFOs spending heavily on AI
Corporate finance leaders are feeling bullish about their business’s financial prospects, but many are worried are going over budget on artificial intelligence.
New KPMG group incubates AI-native startups within the firm
KPMG launched the new Client Technology and Innovation group, which will develop and launch AI-native businesses that operate like independent startups with their own founders, funding and staff.
Sorren adds two Mid-Atlantic firms
The Top 50 Firm acquired Alta CPA Group in Annapolis, Maryland, and Zinman & Company in Southampton, Pennsylvania, continuing its wave of dealmaking.
The token has been transferred, but has the asset left the balance sheet?
FASB has not yet definitively determined which transactions will qualify as crypto asset lending transactions.
Tax-slashing strategy popularized by largest hedge fund faces IRS crackdown
A strategy popularized by AQR to help wealthy people slash their taxes on ordinary income is facing a sign that authorities are preparing to clamp down.
IRS threatens crackdown on array of Wall Street tax dodges
The Treasury Department took a big step toward curbing a Wall Street boom in investment strategies that cut tax bills, with a notice signaling potential action.
Summit snags $2B investment from AstraZeneca, clearing financial overhang
The all-stock deal gives Summit Therapeutics enough money to see through Phase 3 trials for the PD-1/VEGF bispecific ivonescimab—but keeps the asset fully in-house without giving up licensing rights.
Novo adds long-term obesity differentiation in up to $2.6B Hengrui deal
Investors looking for more transformative business development at Novo will have to wait, but a new partnership with China’s Hengrui Pharma adds a new weekly oral option to the Danish pharma’s early pipeline.