Ashton Kutcher, Sound Ventures (Photo by Kevin Winter/Getty Images )
Eight months after launching in New York and 6 weeks after launching Illinois, Lemonade, the insurance company powered by AI and behavioral economics, launched across California.
It’s pretty fitting for the insurance disruptor to count California, the tech capital of the world, as its third state to be licensed in. Backed by VCs such as Sequoia, GV, General Catalyst and Ashton Kutcher’s Sound Ventures, Lemonade was founded by two techies themselves: Daniel Schreiber, the former president of Powermat, and Shai Wininger, a co-founder of Fiverr. In fact, the two describe Lemonade as a “tech company doing insurance, not an insurance company doing an app.”
This is not a trivial distinction. Insuretech has been billed the hottest sector in tech, and swarms of startups have sprung up in this past year. From 2011 and until 2017, overall insuretech venture funding grew by 31% annually, according to Venture Scanner. Often, “insurtech” companies are digital brokers that provide a snazzy facade for traditional insurance incumbents.
us stock exchange: Infinity Pharmaceuticals, Inc.(INFI)
Advisors’ Opinion:
- [By Lisa Levin]
In trading on Friday, healthcare shares fell 0.32 percent. Meanwhile, top losers in the sector included Antares Pharma Inc (NASDAQ: ATRS), down 38 percent, and Infinity Pharmaceuticals Inc. (NASDAQ: INFI) down 16 percent.
- [By Lisa Levin]
In trading on Tuesday, healthcare shares fell by 0.98 percent. Meanwhile, top losers in the sector included Cleveland BioLabs, Inc. (NASDAQ: CBLI), down 25 percent, and Infinity Pharmaceuticals Inc. (NASDAQ: INFI), down 8 percent.
- [By Lisa Levin]
Infinity Pharmaceuticals Inc. (NASDAQ: INFI) shares dropped 70 percent to $1.32. Infinity announced plans to cut 21 percent of the workforce. The company also reported that DYNAMO Phase 2 monotherapy study evaluating the efficacy and safety of duvelisib met its primary endpoint.
us stock exchange: M.D.C. Holdings, Inc.(MDC)
Advisors’ Opinion:
- [By Lisa Levin]
Cyclical consumer goods & services sector was the top gainer in the US market on Tuesday. Top gainers in the sector included M.D.C. Holdings, Inc. (NYSE: MDC), Delta Apparel, Inc. (NYSE: DLA), and Commercial Vehicle Group, Inc. (NASDAQ: CVGI).
us stock exchange: Kalytera Therapeutics, Inc. (QUEZF)
Advisors’ Opinion:
- [By Javier Hasse]
Kalytera Therapeutics Inc (OTC: QUEZF) closed a C$13.4 million ($10.2 million) tranche of a private placement for the acquisition of Talent Biotechs Ltd.
us stock exchange: Karyopharm Therapeutics Inc.(KPTI)
Advisors’ Opinion:
- [By Chris Lange]
Karyopharm Therapeutics Inc. (NASDAQ: KPTI) was raised to a Buy rating from Hold, and the price target was increased to $12 from $9, at Jefferies. The firm said its call is based on its future revenue opportunity in multiple myeloma. Itsshares most recently closed at $10.62, with a consensus price target of $16.30 and a 52-week range of $4.83 to $19.41.
us stock exchange: Coca-Cola Bottling Co. Consolidated(COKE)
Advisors’ Opinion:
- [By Douglas A. McIntyre]
Coca-Cola Bottling Co. (NYSE: COKE) had a revenue increase to $2.3 billion in its most recentfiscal year, from $1.7 billion in the previous one. It is moving into Ohio, Indiana, Kentucky, Illinois and West Virginia, which almost certainly will require capital. Its net sales rose 37% in the most recent quarter to $840 million. Management stated this was because of “Organic growth in the legacy territories as well as territory expansion through the acquisition of several new distribution territories from Coca-Cola led to the solid performance.” The current dividend is $1, or 0.66%.
us stock exchange: Vascular Biogenics Ltd.(VBLT)
Advisors’ Opinion:
- [By Lisa Levin]
Shares of Vascular Biogenics Ltd (NASDAQ: VBLT) were down 17 percent to $7.43. VBL Therapeutics reported pricing of 2.5 million share common stock offering for $18.75 million.
- [By Lisa Levin]
Shares of Vascular Biogenics Ltd (NASDAQ: VBLT) were down 20 percent to $7.22. VBL Therapeutics reported pricing of 2.5 million share common stock offering for $18.75 million.
