- Alcon AG (NYSE:ALC) has agreed to acquire Ivantis Inc for $475 million.
- Alcon may be required to make additional contingent payments upon the achievement of certain regulatory and commercial milestones.
- Ivantis is a developer and manufacturer of Hydrus Microstent, a minimally-invasive glaucoma surgery (MIGS) device designed to lower intraocular pressure for open-angle glaucoma patients in connection with cataracts surgery.
- The FDA approved Hydrus Microstent in August 2018 for use with cataract surgery.
- In the U.K., Canada, Australia, Singapore, and Germany, the MIGS device is indicated for primary open-angle glaucoma in conjunction with cataract surgery or a stand-alone procedure.
- The transaction will close in Q1 of 2022.
- Price Action: ALC shares closed at $85.61 on Friday.
DA Davidson Maintains Buy on Airbnb, Lowers Price Target to $140
DA Davidson analyst Tom White maintains Airbnb (NASDAQ:ABNB) with a Buy and lowers the price target from $210 to $140.
