Stocks Rallying On Major News

J.Jill, Inc. (JILL) shares are coming back to life, up over 80% today, on news of getting 10 more days to avoid bankruptcy. In order to extend debt maturities, it would need to sign a deal with the vast majority of its lenders. That excuses the company from financial agreements and provides it with fresh money.

Jounce Therapeutics, Inc. (JNCE) is a top performer today and is up by over 45%. This comes after the company announced that it had entered into a license contract with Gilead Sciences Inc. (GILD). Under the deal, GILD will receive exclusive license for JTX-1811 program.

Gilead pays $85 million in advance, making an investment of $35 million when the deal ends. Additionally, JNCE will be provided up to $685 million in milestone payments.

This is not the first oncological deal by GILD in 2020 as it has already acquired Forty Seven Inc. for $4.7 billion and Pionyr Inc. in a deal valued at $275 million. However, GILD investors look unimpressed by the deal as the stock is down 2%, at last check.

Aemetis, Inc. (AMTX) doubled this year, thanks to today’s 50% rally on receipt of a National Drug Code (NDC) for OTC sanitizer products which it will offer to consumer market and help fight COVID-19 Pandemic.

“This FDA registration is an important step for Aemetis in the production and distribution of blended and packaged sanitizer alcohol products by our wholly-owned subsidiary, Aemetis Health Products,” stated Eric McAfee, Chairman and CEO of Aemetis, Inc.  “Aemetis is in a unique position as the only large-scale producer of high grade sanitizer alcohol in the Western United States, and we plan to address the ongoing demand for hand sanitizer, alcohol wipes, and other sanitizer products under the Aemetis Health Products brand and on a private label basis.”

Gogo Inc. (GOGO) rallied 20% after the in-flight wireless internet provider today announced it has entered into a definitive agreement for Intelsat SA to acquire its commercial aviation business for approximately $400 million in cash. A 10-year network services agreement is also part of this deal which will give Gogo exclusive rights to CA market in North America. CA business is planned to be operated as a separate entity and its head office will remain in Chicago.

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