iRhythm Technologies Hired a New CEO and Regenxbio Announced a New Partnership 📈
iRhythm Technologies Hired a New CEO and Regenxbio Announced a New Partnership
iRhythm Technologies is a healthcare company located in the heart of San Francisco. Coincidentally, they focus on manufacturing heart monitoring devices for patients across the United States, and they have a market cap of $1.91 billion.
On Monday, it was announced that the company appointed Quentin Blackford as their CEO. Blackburn was previously an executive at Dexcom, another healthcare company who manufactures blood glucose monitoring devices. Dexcom did well when he was there, so the company is hoping he can turn things around as they have had a rough couple of months leading up to today. Investors loved the news as iRhythm closed the day at $64.96, up 35%.
Regenxbio is a healthcare company based in the outskirts of Washington, D.C., the capital of the United States. As you can tell from their name, they are a biotechnology company that researches gene therapy, and they have a market cap of $1.849 billion.
Monday brought some exciting news. Regenx announced a partnership with biotech giant AbbVie for an eye disease deal worth nearly $1.75 billion. They will co-develop a gene therapy to cure a disease that affects more than 2 million people worldwide, and it marks big pharma’s interest in gene therapy companies according to analyst Luca Issi. At the end of the day, Regenxbio closed at $43.40, up 31.20%.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.