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  Reuters

  Vertex Pharma boosts immunotherapy business in $4.9 billion Alpine Immune deal

  Shares of Alpine were up 36% in extended trading, while Vertex Pharma was down about 1%. The gene therapy developer will now have access to Alpine's povetacicept, which is in mid-stage development for the treatment of an autoimmune disease of the kidney called IgA nephropathy (IgAN). The transaction, approved by Vertex and Alpine's boards, is expected to close in the second quarter of 2024.

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  Bloomberg

  Defense Stock Wobble Raises Concern About Stretched Valuations

  (Bloomberg) -- Shares in defense companies jumped after Russia’s attack on Ukraine. They did again after the Israel-Hamas conflict started. Now another surge driven by Europe’s mission to boost military spending is raising questions over whether they’ve gone too far, too fast.Most Read from BloombergUS Slams Strikes on Russia Oil Refineries as Risk to Oil MarketsBond Trader Places Record Futures Bet on Eve of Inflation DataChinese Cement Maker Halted After 99% Crash in 15 MinutesApple’s India iP

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  Reuters

  SEC warns Uniswap Labs of potential enforcement action

  The reason for the SEC's warning against Uniswap was not immediately clear from the blog post, but can be pegged to the regulator's campaign to apply U.S. securities law to the digital asset-related companies like Coinbase. The SEC declined to comment on the post. The SEC's battle with Coinbase, the world's largest publicly traded cryptocurrency exchange, rests on one core debate: whether digital assets are investment contracts akin to stocks or bonds that should be regulated by the SEC.