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The terms of Cycle Pharma’s proposal are “economically identical” to the previously evaluated and rejected offer, Vanda said in a statement.WHY IT’S IMPORTANTCycle Pharma’s $8 per share proposal is an 80% premium to Vanda’s last closing price, valuing the company at $488 million.The potential offer follows a 4.5% fall in Vanda’s shares after the U.S. Food and Drug Administration declined to approve its drug for a stomach condition that disrupts digestion.Vanda in June rejected the first takeover offer from Cycle Pharma and a revised bid from contract manufacturer Future Pak.CONTEXTVanda in April adopted a shareholder rights plan, known as a “poison pill”, to reduce the likelihood of a hostile takeover.Vanda has three approved products, sleep disorder treatment Hetlioz, Fanapt for bipolar I disorder and Ponvory to treat multiple sclerosis.KEY QUOTEVanda said its board of directors carefully reviewed the second proposal and “unanimously determined that it substantially undervalues Vanda and is not in the best interests of the Company and its stockholders.” Accordingly, the board has determined not to pursue the proposal.”We stand ready to work immediately with Vanda’s board and management team to reach an agreement that would provide a compelling premium and certain cash value today for all Vanda shareholders,” Cycle Pharma said in a statement.MARKET REACTIONShares of Vanda are up 11.37% at $4.95. More
Solanex AI, an innovative DEX built on the Solana blockchain, has announced the token sale of its native token, $SOLDEX. This marks a major milestone in Solanex’s mission to transform digital asset trading through cutting-edge AI technology and an intuitive, user-focused platform.The $SOLDEX token powers the Solanex ecosystem, enabling seamless trading experiences while leveraging Solana’s ultra-fast and low-cost transactions. By integrating AI-driven strategies, Solanex is set to redefine how traders interact with DeFi, offering unmatched efficiency and profitability.A total of 17.5% of the $SOLDEX supply is allocated for this pre-sale, with the Token Generation Event scheduled for early 2025. To date, the initial coin offering (ICO) has raised over $200,000, and is now available for participation.Solanex ICO has already raised over $200,000 and is now live for participation, more information can be found here.The Solana Advantage for Solanex AISolanex AI has strategically chosen to build on the Solana blockchain, which has recently demonstrated considerable growth. Asset manager VanEck has projected that Solana could reach up to 50% of Ethereum’s market capitalization. Additionally, Solana’s network recently outperformed Ethereum in 24-hour DEX trading volume, capturing 23% of the total market share. Solanex AI aims to capitalize on this momentum by leveraging Solana’s scalability and low transaction costs to deliver AI-driven trading enhancements within the DeFi ecosystem.Solanex vs. Traditional DEXsTraditional DEXs often struggle with liquidity fragmentation, high transaction costs, and complex user interfaces. Solanex AI addresses these challenges head-on by leveraging the power of artificial intelligence. The platform’s AI-powered governance system dynamically optimizes liquidity distribution, ensuring that traders always have access to the best prices. Additionally, Solanex AI’s innovative Reserve-Based Virtual Pools eliminate the need for indirect trades, reducing slippage and lowering overall trading costs.The Power of AI in CryptoAbout Solanex Solanex AI aims to become a leading DEX on the Solana blockchain, offering an advanced trading experience for both retail and institutional investors. With its innovative AI-powered features and commitment to user satisfaction, Solanex AI is paving the way for a new era of decentralized trading.Solanex X page: https://x.com/solanex_aiWebsite: https://solanex.ai [email protected] article was originally published on Chainwire More
The dYdX Foundation is pleased to announce the launch of Trump Prediction Market Perpetuals on dYdX, offering traders the unique ability to apply advanced order types on Donald Trump’s chances of winning the 2024 U.S. Presidential Election.This innovative market was added through a governance process by the dYdX Community on October 9th. It allows users to take trading positions on the U.S. election outcome in a fully decentralized and non-custodial environment, giving them the ability to amplify their positions and gain increased exposure to one of the most highly anticipated political events of the year. Traders bullish on Trump’s chances can take long positions, while those with a bearish outlook can short the market, leveraging their insights on election dynamics for potentially greater returns.Key Features of the Trump Perpetual Prediction Market:How to Get Started:What’s Next?In addition to the Trump Prediction Market Perpetuals, the dYdX Community may permissionlessly introduce more leveraged prediction markets on various real-world events, including sports, global elections, and cultural events. This expansion would provide the dYdX Community with a broader range of trading opportunities, all supported by the platform’s decentralized infrastructure.Disclaimer:None of this is investment advice. Crypto-assets can be highly volatile and trading crypto-assets involves risk of loss. Investment into crypto-assets may not be regulated and may not be adequate for retail investors. Do your own research and due diligence before engaging in any activity involving crypto-assets. dYdX is not available in the U.S. or to U.S. users, as well as in other restricted jurisdictions.For further inquiries, please contact:MarketAcrossEmail: [email protected]: https://dydx.trade/Discord: Join Our CommunityContactDan [email protected] article was originally published on Chainwire More
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At its peak around 1:35 p.m. ET, there were more than 12,000 incidents of people reporting issues with Facebook and over 5,000 reports of issues with Instagram, according to Downdetector, which tracks outages by collating status reports from a number of sources.The number of outages have come down to around 450 for Instagram and 659 for Facebook since then, Downdetector showed, as of 2:09 p.m. ET.Downdetector’s numbers are based on user-submitted reports. The actual number of affected users may vary.Meta Platforms (NASDAQ:META) did not respond to a Reuters request for comment.Early this year, hundreds of thousands of Facebook and Instagram users were impacted globally for more than two hours by an outage that was caused by a technical issue.There were more than 550,000 reports of disruptions for Facebook and about 92,000 for Instagram at the peak of the outage, according to Downdetector. More
Minutes Network, the world’s first blockchain-based international voice-calling and wholesale termination service provider, is thrilled to announce the appointment of Jamie King as its new Chief Marketing Officer, effective October 14th, 2024. With a pioneering career in driving digital marketing transformations, Jamie is set to lead Minutes Network marketing initiatives into a new era of growth and engagement, bringing a wealth of expertise, vision, and leadership that will further drive the company’s commitment to providing voice carriers worldwide with the highest quality international terminations, at the lowest, market-beating, prices. Minutes Network offers a unique integration between telecommunications and the blockchain, leveraging existing and new, proprietary MinTech technologies to provide voice carriers worldwide with the highest quality international terminations at unmatchable prices. With twenty-four international points of presence, Minutes Network can terminate international traffic all day, every day, to any worldwide destination. Through innovative solutions and a dedication to excellence at pace, Minutes Network continues to set new standards in the Telecom Industry. For more information about Minutes Network and their leadership team, users can visit www.minutesnetwork.io and X account.ContactCEOJosh WatkinsMinutes [email protected] article was originally published on Chainwire More
