Worthington Steel, Inc. - WS STOCK NEWS

Alvotech Holdings S.A. has received approval from the European Commission for its biosimilar AVT02, a high concentration version of Humira (adalimumab), on November 15. This approval covers all EU Member States and countries in the EEA. Humira generated approximately US$20 billion in sales in 2020. Alvotech aims to improve access to affordable biosimilars, marking a significant milestone in its growth strategy. Alvotech is set to merge with Oaktree Acquisition Corp. II, with the combined entity expected to trade on NASDAQ under the symbol 'ALVO.'

Energy Vault and BHP have formed a strategic collaboration to deploy Energy Vault's energy storage solutions in BHP's mining operations. This partnership is part of BHP's Series C funding round and includes a Memorandum of Understanding to explore applications for energy storage technology. Enhanced collaboration may also lead to eco-friendly initiatives, such as using mine tailings for eco-brick manufacturing. The agreement marks an opportunity for Energy Vault to expand into Australian markets and supports BHP's decarbonization efforts, potentially improving sustainability.

Alvotech and Oaktree Acquisition Corp. II announce a definitive merger agreement, creating a combined entity valued at approximately $2.25 billion. This transaction is projected to provide over $450 million in gross proceeds to Alvotech, supporting its mission to deliver affordable biosimilar medicines globally. Alvotech's pipeline includes seven biosimilar candidates, with anticipated sales exceeding $80 billion. The merger is unanimously approved and expected to finalize in the first half of 2022.

ION Acquisition Corp 2 Ltd. (NYSE: IACB.U, IACB, IACB WS) announced a special meeting on November 29, 2021, to approve its business combination with Innovid, Inc., a leading CTV advertising platform. The U.S. SEC has declared effective ION's Registration Statement on Form S-4 related to this merger. The closing of the business combination is contingent upon shareholder approval and standard closing conditions. The merger aims to enhance Innovid's advertising solutions and market position.

Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announced its participation in a fireside chat at the Piper Sandler 33rd Annual Virtual Healthcare Conference. The presentation will be accessible from November 22, 2021, at 10:00 a.m. Eastern Time on their website. Founded in 2014, Vicarious Surgical is innovating surgical procedures using advanced robotics and virtual reality technology, aiming to enhance efficiency and patient outcomes. Their technology is recognized with Breakthrough Device Designation by the FDA, marking a significant milestone in surgical robotics.

Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announced its third quarter 2021 financial results, marking its entry into public markets. The company posted an operating expense of $8.6 million, a 156.2% increase from the previous year. R&D expenses rose to $5.2 million while general and administrative costs increased to $2.5 million. The net loss reached $65.5 million, showing a significant increase from $3.3 million in Q3 2020, resulting in a net loss per share of $0.71. However, cash reserves stood strong at $185 million as of September 30, 2021.

Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) will present at the Canaccord Genuity MedTech, Diagnostics, and Digital Health & Services Forum on November 18 at 4:00 p.m. Eastern Time. The management will also engage in virtual investor meetings throughout the day. The presentation will be live-streamed on the Company’s website, with an archive available afterward. Vicarious Surgical specializes in innovative robotics technology aimed at enhancing surgical efficiency and patient outcomes.

Vicarious Surgical Inc. (NYSE: RBOT, RBOT WS) announced management's participation in the Credit Suisse 30th Annual Healthcare Conference on November 11 at 3:30 p.m. ET. The company aims to enhance surgical procedures' efficiency and patient outcomes through its innovative robotics technology. A live webcast of the presentation will be available on the company’s website, with an archive accessible post-conference. Vicarious Surgical, founded in 2014, has developed a groundbreaking surgical system recognized by the FDA with Breakthrough Device Designation.