A team from the Smithsonian is starting a pilot program to aid people in restoring their damaged family heirlooms. Click photo to learn more….

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Ohkay Owingeh from Adventure Pictures on Vimeo. Currently featured in the exhibition “By the People” at the Cooper Hewitt, Smithsonian Design Museum in New York City […]

The post Restoration of the Ohkay Owingeh Tribe’s historic pueblo appeared first on Smithsonian Insider.

The post President Trump press conference at National Museum of African American History and Culture appeared first on Smithsonian Insider.

One of the most important long-term projects to impact the video game industry is going on at the Smithsonian’s Lemelson Center for the Study of […]

The post Preserving the stories of Video Game Pioneers appeared first on Smithsonian Insider.

Get a quick tutorial on how to upload a story about your local culture and experiences to the Smithsonian’s storytelling website, located www.museumonmainstreet.org Museum on […]

The post Posting Your Story to Smithsonian’s Museum on Main Street Website appeared first on Smithsonian Insider.

Smithsonian staff gathered on Thursday, June 1 outside the National Museum of African American History and Culture to show their support and listen to Director […]

The post Smithsonian staff rally to support African American History Museum after noose incident appeared first on Smithsonian Insider.

“Dunkirk” director, Christopher Nolan, talks to National Air and Space Museu curator, Jeremy Kinney, about one of the movie’s stars, the Spitfire. The movie is based […]

The post “Dunkirk” director talks about the Spitfire appeared first on Smithsonian Insider.

Here’s how the Smithsonian Institution is prepping the 9,000-pound capsule used during Apollo 11 for a two-year road trip.

The post How the Smithsonian moves space history appeared first on Smithsonian Insider.

Dried specimens of nearly 800 flowering plants were acquired by the Botany Department of the Smithsonian’s National Museum of Natural History from the National Botanical Research Institute in Windhoek, Namibia, Africa. The collection includes nearly 160 specimens from the Compositae, or sunflower family.

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Smithsonian scientists and colleagues, however, have recently found evidence that gymnosperm plants shared an intricate pollination relationship with scorpionfly insects 62 million years before flowering plants appear in fossil records.

The post Prehistoric pollination: Scorpionfly mouthparts fit tubular channels of gymnosperm cones appeared first on Smithsonian Insider.

What they observed was unique among all bird species: successful male caribs maintained and defended territories with nectar supplies that were two to five times greater than their daily needs and also isolated part of their crop for the exclusive feeding rights of visiting females.

The post A well-defended territory is what some female hummingbirds find most attractive in a mate appeared first on Smithsonian Insider.

Since its doors first opened in 1910, the National Museum of Natural History has inspired curiosity and learning about the natural world and our place […]

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Visits to the Smithsonian's National Zoo just became a little bit sweeter with the arrival of a new honeybee colony. With a hive made of glass in the Zoo's Pollinarium and full access to the outdoors, these bees are showing off the wondrous ways of their world.

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Current plans to protect the Chesapeake Bay include planting trees along hundreds of miles of streams that empty into the Bay. This study provides realistic limits for how much these buffers might further reduce nitrate pollution, and it helps identify where buffer restoration can offer the greatest additional nitrate removal.

The post Study backs restoring green buffers along streams to reduce Chesapeake Bay pollution appeared first on Smithsonian Insider.

A 48 million-year-old fossilized leaf has revealed the oldest known evidence of a macabre part of nature – parasites taking control of their hosts to turn them into zombies.

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The scientists staked out dozens of the gingers night and day while the plants flowered, but no long-proboscid pollinator ever appeared. Climate change, they surmised, was responsible for the loss of this highly specialized and now, perhaps forever unknown insect.

The post With specialist pollinator absent, Himalayan gingers must adapt appeared first on Smithsonian Insider.

A new study shows that as climate change enhances tree growth in tropical forests, the resulting increase in litterfall could stimulate soil micro-organisms leading to a release of stored soil carbon.

The post Increased tropical forest growth may result in release of stored carbon in the soil appeared first on Smithsonian Insider.

The National Park Service and the Smithsonian Institution have announced a new partnership to share responsibility for selected National Park Service natural history collections, making them more readily available to researchers through the Smithsonian.

The post National Park Service natural history collections transferred to care of the Smithsonian appeared first on Smithsonian Insider.

The move enhances coordination efforts for the 46-plot research network, which partners with more than 75 institutions in 21 countries.

The post Global forest science research center moves from Harvard to the National Museum of Natural History, Washington, D.C. appeared first on Smithsonian Insider.

Trees put on weight faster and faster as they grow older, according to a new study in the journal Nature. The finding that most trees’ […]

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Orchids are beautiful, but their beauty can be deceiving. Most orchids don’t have any nectar, yet they cheat their pollinators into thinking that they do […]

The post The Secret Life of Orchids – Part II: Pollinators appeared first on Smithsonian Insider.

Although useful to Tarzan, vines endanger tropical forests’ capacity to store carbon. In a major experimental study in Panama, Smithsonian researchers showed that woody vines, […]

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The National Ecological Observatory (NEON) is a large-facility project managed by NEON, Inc., and funded by the National Science Foundation (NSF). NEON is a continental-scale […]

The post NEON begins to monitor changing ecology of U.S. appeared first on Smithsonian Insider.

How much is a wetland worth? It’s a question that has plagued policymakers, scientists and other leaders looking to protect their communities and slow down […]

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The Smithsonian is celebrating Earth Day this month by hosting the first Earth Optimism Summit from April 21 to 23 in Washington, D.C. Its goal […]

The post The Smithsonian’s history is right in line with Earth Optimism appeared first on Smithsonian Insider.

This Earth Day weekend in Washington, D.C., the Smithsonian is convening the first Earth Optimism Summit. The three-day event, taking place April 21–23, will look […]

The post Earth Optimism: Smithsonian’s “Agua Salud” Project restores degraded land with forest appeared first on Smithsonian Insider.

Millions, if not billions, of specimens reside in the world’s natural history collections, but most of these have not been carefully studied, or even looked […]

The post Using digitized Botany specimens, AI excels in simple curatorial tasks appeared first on Smithsonian Insider.

A new aspherical scattering factor formalism has been implemented in the crystallographic least-squares refinement program SHELXL. The formalism relies on Gaussian functions and can optionally complement the independent atom model to take into account the deformation of electron-density distribution due to chemical bonding and lone pairs. Asphericity contributions were derived from the electron density obtained from quantum-chemical density functional theory computations of suitable model compounds that contain particular chemical environments, as defined by the invariom formalism. Thanks to a new algorithm, invariom assignment for refinement in SHELXL is automated. A suitable parameterization for each chemical environment within the new model was achieved by metaheuristics. Figures of merit, precision and accuracy of crystallographic least-squares refinements improve significantly upon using the new model.

When the Signal Editor is saving data, the indicator that the save is occurring does not appear.  You might notice a delay when saving large data files.This bug exists in the following release(s):
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An error in an equation in the paper by Song et al. [Acta Cryst. (2019), C75, 1353–1358] is corrected.

An image from a teaser for Marvel Comics' 2015 "Civil War," part of crossover "Secret Wars." Could Spidey appear in the new Captain America: Civil War film now that Marvel and Sony have worked out a deal?; Credit: Marvel

Spider-Man is coming home to join the rest of the Marvel movie family (um, except for the Fantastic Four and the X-Men) in upcoming films under a new deal struck between Sony, the home for Spider-Man movies, and Disney's Marvel Studios, home of Iron Man and the Avengers

It's been a bumpy road for Spidey for almost a decade, but now he's set to be part of the largely critically and financially successful Marvel Cinematic Universe films. He's already made history, and he could make more history soon. 

Here's a brief history of cinematic Spider-Man, looking ahead to his new adventures with Marvel's large and growing stable of movie superheroes.

Coming out of the superhero dark ages

Spider-Man was one of the catalysts for the current superhero movie boom. Superhero films were seen as potentially dead following the bomb of "Batman & Robin" with George Clooney, a critical failure and a mixed bag commercially.

Marvel dipped its toes in superhero movies with 1998's "Blade," which was a big hit, followed by 2000's "X-Men," but they both tried to distance themselves from their comic book source material (and the Joel Schumacher Batman movies) by putting their heroes in black leather and grounding them as much as possible in real-life aesthetics.

Sony's first "Spider-Man" movie came out in 2002 and showed that there was still room for an optimistic comic book take. The Sam Raimi-directed film also had a huge cultural impact as one of the first big summer movies following 9/11 — an early teaser that showed Spidey trapping bad guys between the two towers had to be pulled following the disaster.

Spider-Man 9/11 trailer

The movie ended up pulling in almost $822 million at the box office, including almost $404 million domestically, helmed by genre director Raimi, who had previously been best known for the horror-comedy "Evil Dead" films.

Spider-Man trailer

Tobey Maguire surprised as the star, pulling off the nerdy, earnest Peter Parker while also being believable enough as an action star in the Spider-Man suit. Maguire starred alongside Kirsten Dunst as love interest Mary Jane and Willem Dafoe as the villainous Green Goblin, and the film included the not-yet-a-superstar James Franco as Harry Osborn and now-Oscar-nominated J.K. Simmons as Daily Bugle publisher J. Jonah Jameson.

A sequel, 2004's "Spider-Man 2," continued the success of the first, with only a slight dip in overall box office while proving that the first film's success wasn't just a flash in the pan, that there was room for a relatively bright superhero in a dark time.

Spider-Man 2 trailer

Maguire almost ducked out of filming during negotiations, complaining of back pains following injuries while filming "Seabiscuit," and Jake Gyllenhaal almost stepped into the role — but Maguire recovered and held onto his spot. The escapist entertainment of superhero movies was starting to take hold in a growing way, but the superhero train was about to come off the rails for a few years.

The twilight of Tobey Maguire

As "Spider-Man 2" was hitting theaters, 2004 also brought "The Punisher," "Blade: Trinity" and "Catwoman," none of which showed superheroes as particularly promising movie saviors.

Marvel turned out more superhero movies that weren't loved by critics, including "Elektra," "Fantastic Four" and "X-Men: The Last Stand," though the latter two still did well at the box office (all were released by 20th Century Fox). DC Comics made the critical and commercial hit "Batman Begins" in 2005, but stumbled in 2006 with the underperforming "Superman Returns."

In 2007, "Spider-Man 3" dropped, and while it did great at the box office — it was the series' most popular film worldwide, though it dipped domestically — it was slammed by fans and critics. They took that Spider-Man optimism and tried making him emo, while overstuffing the bad guys — going from one villain in the previous films and upping it to three — and turning the campy dialogue up to 11.

Spider-Man 3 trailer

Trying to be 'Amazing' in a new superhero era

While Spidey stumbled, the next year Marvel released its first film from its own studio, the groundbreaking "Iron Man." It showed that you could make a franchise from a hero who was big in the comics but didn't have the same mainstream recognition.

It revitalized Robert Downey Jr.'s career and put Marvel Studios on the map, with a post-credits sequence laying the seeds for completely tying the films together in a way that hadn't been done on this scale ever before.

While Marvel started to crank up their self-produced film, Spider-Man lay dormant. Eventually, it was decided to reboot the character with Andrew Garfield taking over the role in 2012's "The Amazing Spider-Man." It scored the lowest domestic take of the series, while still excelling overseas.

Amazing Spider-Man 2 trailer 1

Sony quickly followed up with a sequel, while announcing their own plans to ape Marvel and try to create their own cinematic universe.

Amazing Spider-Man 2 villains trailer

The second "Amazing Spider-Man" movie set up other potential villains, and holding off the payoff of what exactly happened to Peter Parker's parents as Marvel tried to stretch Spider-Man into a female-led film, one focused on the villains, a movie led by Spidey character Venom and more.

Amazing Spider-Man first 10 minutes

The sequel showed diminishing returns, though, and plans for further sequels and spinoffs began to seem up in the air.

Hacked

In the midst of the Sony hack, documents revealed that Sony and Marvel had been negotiating over Marvel using Spider-Man in its own films — despite Sony having the rights to the character in perpetuity as long as they kept producing films, a deal worked out before Marvel had the resources and the belief in their own filmmaking capabilities. Still, the documents also showed that the talks had fallen apart, and hopes for Spider-Man appearing with Iron Man, Captain America, Thor and the rest of his Marvel friends appeared dim.

Then, Monday, Marvel shocked everyone by announcing that Spider-Man was coming home and would be part of the Marvel Cinematic Universe after all. There had been reports that they'd wanted Spider-Man for the third Captain America film, and with that film set for 2016, that may still happen. They also pushed back four of their "Phase Three" movies to make room in 2017 for a new "Spider-Man" movie, with reports indicating that the movie will feature a new actor taking over and Andrew Garfield getting pushed aside.

Spider-Man comes home

Andrew Garfield will likely go down in comics movie history as the right guy at the wrong time. He was a likable lead with a strong supporting cast, but Marvel looks ready to turn the page. Those on the Marvel side have previously indicated they'd avoid doing another origin story, so we'll probably skip seeing Uncle Ben killed to inspire Peter Parker once again.

"The new relationship follows a decade of speculation among fans about whether Spider-Man – who has always been an integral and important part of the larger Marvel Universe in the comic books – could become part of the Marvel Universe on the big screen," Marvel said in the announcement of the new deal.

Fans online have been largely ecstatic over the announcement of Marvel getting control of the character. Reports indicate that Sony still gets final say over Spider-Man, but that they're letting Marvel take the creative lead. Marvel also announced the possibility that other Marvel characters could appear in future Spider-Man films.

While Sony's Amy Pascal stepped down as the motion picture head of Sony following the hacking scandal and its associated public embarrassments, she's staying on as a producer — including co-producing the next Spider-Man film with Marvel creative film leader Kevin Feige.

Some fans have also asked for an even bigger step away from the traditional Spider-Man by introducing Miles Morales, the popular half-black/half-hispanic Spider-Man from an alternate universe in the comics, but the official Marvel press release does mention Peter Parker, and Marvel executives have previously taken a strong stance against moving away from Parker as the secret identity.

Still, as Badass Digest's Devin Faraci notes, the executive who'd taken the strongest stance against Miles Morales — Avi Arad — isn't mentioned in the press release about the new film, so maybe Marvel will surprise fans once again. Also, relations have apparently been icier between Marvel and Fox, with fans speculating that Marvel is trying to ice out the X-Men and the Fantastic Four from their comics — but if the companies could work out a deal to use those heroes in a Marvel Cinematic Universe film, it could prove to be an even bigger surprise.

The new Spider-Man film is set for July 28, 2017, and he may appear in another Marvel film sooner.

This content is from Southern California Public Radio. View the original story at SCPR.org.

Jerry "The King" Lawler with Jim Ross.; Credit: WWE

Jim Ross is the most famous pro wrestling play-by play commentator of all time. He's a native Californian, but grew up in Oklahoma and took his trademark drawl into doing commentary. He's worked in wrestling for more than 40 years, calling matches on shows seen by millions of people around the world.

This weekend, he's in the Bay Area for Wrestlemania weekend (the first Wrestlemania in Northern California, and the first in California in 10 years). Ross no longer commentates for WWE, but he's still a storyteller, online and in person. He hosts regular live storytelling shows with stories from his decades-long career and a bit of comedy, along with a live guest, and he also has a huge online presence including a podcast that went to number one in sports its first week out.

Ross has been watching wrestling since he was a kid.

"My dad wasn't a big fan of it. He missed the point. The point is not whether it's real or if it's staged. The point is, are you entertained by it, or not? And I was," Ross said.

He's been at ringside for numerous historic matches, helping the wrestlers to tell their stories ever since he got his first job in wrestling out of college at 22.

"The greater the star, the easier it is to tell their story," Ross said. "Those participants make music. They make different kinds of music, and the announcers, the broadcasters, have to be able to provide the adequate lyric to the competitors' music."

Ross's voice is so powerful that it's become a meme online to pair his voice with another dramatic footage, from sports and beyond — you can even find it paired with dramatic moments from shows like "Breaking Bad" and "Game of Thrones." Ross says that the first time he saw someone do that was with a hit by Michigan running back Jadaveon Clowney, a video which went viral and sparked others to do likewise.

The JR Treatment

"I get sent these memes all the time. 'Hey JR, check this one out.' Or people will say, somebody will make a great dunk at an NBA game, and somebody will say 'I can't wait to see this get the JR treatment.' And now there are major sports websites that will send out a tweet, 'Here's a great play from Sunday's 49er-Charger game that's got the JR treatment.' So now it's got a name. 'The JR Treatment.'"

Those viral videos have even helped him land new commentating roles since leaving WWE. He did a call of a fight between NASCAR drivers for the Daytona 500 for a special pre-show video, and it's led to him having opportunities in traditional sports.

"It's been done in boxing, and MMA. Believe it or not, I've gotten feelers that we're entertaining now from a variety of combat sports entities that actually heard what my call would sound like doing their product," Ross said. "It had my tone, had my inflection, had my level of enthusiasm."

Ross also played a huge role behind the scenes, working as WWE's executive vice president of talent and signing future stars like the Rock, Mick Foley and more. He says that Mick Foley's match against the Undertaker in 1998's Hell in a Cell match was his most memorable to call.

"I have people walk up to me and start quoting my commentary when Undertaker threw Foley off the Hell in a Cell, this massive cage with a roof on it, that was about 17 feet high from the roof to the floor," Ross said. "It looked like no human being, quite honestly, could survive that fall. You don't practice falls like that in wrestling school."

Ross has managed to stay relevant with the help of a popular podcast and 1.3 million followers on Twitter, where he regularly dispenses his thoughts on wrestling and beyond. He started doing that podcast after being lobbied to do it by "Stone Cold" Steve Austin, and continues to try new things.

"I was very reluctant to engage in social media, and primarily because we sometimes get set in our ways, especially the older we get," Ross said. "But change, for any of us, in any walk of life, whether it's your diet, it's your relationships, the way you approach your job, or any changes that you need to affect, whether it's on doctor's orders, your significant other's suggestions — change is not always a negative thing. So I got on Twitter, and then Twitter connected me to so many people."

While some may feel that pro wrestling, given its predetermined results, doesn't need real athletes, Ross disagrees and says there are plenty of reasons to want real athletes.

"They're competitive. They don't want to be on the second team. They want to be in the game. And they've been in that mindset since some of them were in little league, or Pop Warner football, or elementary school wrestling, or whatever it may be."

He says they also understand how to be coached and how to play well with others, as well as handling the bumps and bruises that come with the territory and the difficult travel schedule.

"I don't know that anybody in any entity, unless you're the most well-traveled comedian or entertainer, has that. Because the thing about pro wrestling is it doesn't have an off-season, so you don't get a chance to really go recharge your batteries. You've got to maintain that competitive edge to survive."

Ross says there's one match he wishes he had another shot at calling: Ric Flair's retirement match against Shawn Michaels at Wrestlemania 24 in Orlando at the Citrus Bowl. While Ross has traditionally been a play-by-play commentator, that night he was assigned to be a color commentator, which gave him some different challenges.

"I thought I had great stories to tell because of my relationship with Ric — I've known him for 25 years — and I didn't think that I contributed as much to that match from an emotional standpoint as I could. I was obligated to get in soundbites and get in, get out," Ross said. "That's the biggest match at the biggest stage, and I love both those guys, and I really wanted to be extra special that night, and I just don't know in my heart that we got there."

He says California has its own wrestling legacy to be proud of. The California Wrestlemania match that Ross says he'll always remember: Bret Hart versus Shawn Michaels at Wrestlemania 12 in Anaheim, where two now wrestling legends wrestled for more than an hour.

He also thinks the economics of Wrestlemania make a lot of sense for whichever city hosts it, thanks to the travelers it draws in from around the world. Cities now bid to try to bring in Wrestlemania, Ross says. With Los Angeles gearing up to build a new stadium, Ross has a Wrestlemania prediction for that stadium.

"I will bet you money — I will bet you some of my barbecue sauce — if L.A. builds a stadium, that Wrestlemania will be one of the first non-football events in that stadium. And they will sell it out. They'll fill every seat. And it'll be great for the city, and the businesses of Los Angeles.

Ross says that what made him a great broadcaster is the same thing that can make someone a success in wrestling or anywhere else — most importantly, don't talk down to your audience.

"You have to be a fan of the genre, or a fan of the game, and you have to be willing to prepare and be ready for your broadcast," Ross said. "You have to be willing to tell the story that the average fan — not the hardcore fan, but the average, casual fan can understand and relate to. ... You know, we're storytellers, and some people are just natural-born storytellers."

Ross plans to continue telling stories for the foreseeable future, on stage, online, calling matches in the legit sports world and wherever else his life takes him. He's even gotten into acting — you can see him in the new film "What Now."

"I think retirement is overblown. How many days can you go fishing? How many rounds of golf can you play?" Ross said. "I had the idea when I left WWE after 21 years, I'm going to reinvent myself. I'm not going to become a trivia answer. ... I don't think you're going to read anywhere, anytime soon, that Jim Ross has finally retired — until you read my eulogy."

Listen to the audio for the full hour-long interview with Jim Ross, talking his career past, present and future — along with the origins of his signature barbecue sauce.

This content is from Southern California Public Radio. View the original story at SCPR.org.

(The Paypers) Financial institutions (FIs) working in digital assets have been required by US regulatory bodies to pay attention to their anti-money laundering and...

Celo, a competing project to...

Supporters of the late educator and civil rights advocate Sal Castro are working to keep his Chicano Youth Leadership Conference alive.; Credit: Crystal Marie Lopez/Flickr

When he died in 2013, Sal Castro drew praise as a Southern California civil rights leader who championed educational opportunities for generations of students of Mexican descent.

While a high school teacher in 1968, he helped thousands of students stage massive walkouts in Los Angeles' east side to protest high dropout rates and poor schooling that ignored their cultural background.

Supporters say his most influential legacy is the Chicano Youth Leadership Conference that he founded in 1963 as a weekend camp in the Santa Monica mountains. The gathering functioned as a cultural pep rally and intensive college application session.

“There was quite a large group of people that knew that this is not something that could die with him. That is when we had the idea to form a foundation to make sure that we keep his legacy alive,” said Myrna Brutti, the conference’s director.

Castro struggled to raise money for the conference, which counts among its alumni such well-known leaders as former Los Angeles Mayor Antonio Villaraigosa and filmmaker Moctesuma Esparza.

The Sal Castro Foundation typically spends about $60,000 to pay for the camp, including food and bus transportation. The group raises the money so that students can attend for free.

Applications to the next conference on March 6 have been sent to LAUSD high school campuses, targeting low-income Latinos, with a Feb. 20 deadline. Organizers hope in years ahead to open the conference to other Southland schools.

Brutti, a middle school principal, said she sees many more college application and high school to college bridge programs today. But a large group of high school students still go without college counseling, she said.

“These are 4.0, 3.7, 3.9, 4.2 [grade-point average] students that graduate from high school and go directly into the workforce because no one has taken the time to really go in depth on…what is available to them,” Brutti said.

The conference gives students like high school junior Savannah Pierce a broader view of their post-graduation choices. She attended the conference in October.

“I never really gave much thought to getting a doctorate degree,” Pierce said. “I thought I was going to do my four years of undergraduate and maybe graduate school. I never realized how many options and opportunities there were.”

When Castro talked to students of Mexican descent, he often transitioned seamlessly between English and Spanish, giving brief lessons on Mexican history and notable Mexicans. The current conference leaders are keeping that tradition alive.

“I never realized how deep and important my culture is and how rich it is with knowledge, and how hard people have worked in the past to get me where I am today,” Pierce said.

Other resources for students seeking help with college applications include:

1. California college and career planning

2. The College Board’s college planning helper

3. The Princeton Review’s college helper

This content is from Southern California Public Radio. View the original story at SCPR.org.

Kristina Drizyte-Miller
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Vaishnavi Ananthanarayanan
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Meeting Report

Source: Streetwise Reports   05/05/2020

Commercial-stage biotechnology company Portola Pharmaceuticals Inc. (PTLA:NASDAQ), which focuses on blood-related disorders, and global biopharmaceuticals firm Alexion Pharmaceuticals Inc. (ALXN:NASDAQ) announced that they have entered into a definitive merger agreement for Portola to be acquired by Alexion.

The acquisition is said to provide a key addition to Alexion's diversified commercial portfolio. The report indicated that the merger agreement has already been unanimously approved each of the company's boards of directors.

The report explained that "Portola's commercialized medicine, Andexxa^® [coagulation factor Xa (recombinant), inactivated-zhzo], marketed as Ondexxya^® in Europe, is the first and only approved Factor Xa inhibitor reversal agent, and has demonstrated transformative clinical value by rapidly reversing the anticoagulant effects of Factor Xa inhibitors rivaroxaban and apixaban in severe and uncontrolled bleeding."

Portola's President and CEO Scott Garland commented, "In developing and launching Andexxa, Portola has established a strong foundation for changing the standard of care for patients receiving Factor Xa inhibitors that experience a major, life-threatening bleed. Andexxa rapidly reverses the pharmacologic effect of rivaroxaban and apixaban within two minutes, reducing anti-Factor Xa activity by 92 percent...Given their enhanced resources, global footprint and proven commercial expertise, we look forward to working with Alexion to maximize the value of Andexxa. With their commitment to commercial excellence, together, we will be able to drive stronger utilization of Andexxa, increase penetration and accelerate adoption in the critical care setting."

Ludwig Hantson, Ph.D., CEO of Alexion, remarked, "The acquisition of Portola represents an important next step in our strategy to diversify beyond C5. Andexxa is a strategic fit with our existing portfolio of transformative medicines and is well-aligned with our demonstrated expertise in hematology, neurology and critical care...We believe Andexxa has the potential to become the global standard of care for patients who experience life-threatening bleeds while taking Factor Xa inhibitors apixaban and rivaroxaban. By leveraging Alexion's strong operational and sales infrastructure and deep relationships in hospital channels, we are well positioned to expand the number of patients helped by Andexxa, while also driving value for shareholders."

The firms advised that "under the terms of the merger agreement, a subsidiary of Alexion will commence a tender offer to acquire all of the outstanding shares of Portola's common stock at a price of $18 per share in cash." Alexion plans to fund the purchase with existing cash on hand and the transaction is expected to close in Q3/20. The purchase is subject to approval by a majority interest of Portola's common stockholders tendering their shares along with ordinary closing conditions and regulatory approvals. The company noted that "following successful completion of the tender offer, Alexion will acquire all remaining shares not tendered in the offer at the same price of $18 per share through a merger."

Alexion is a global biopharmaceutical company based in Boston, Mass., with offices in 50 countries worldwide. The company states that it has been "the global leader in complement biology and inhibition for more than 20 years and that it has developed and commercializes two approved complement inhibitors to treat patients with paroxysmal nocturnal hemoglobinuria and atypical hemolytic uremic syndrome, as well as the first and only approved complement inhibitor to treat anti-acetylcholine receptor antibody-positive generalized myasthenia gravis and neuromyelitis optica spectrum disorder."

Portola is headquartered in South San Francisco, Calif., and is a commercial-stage biopharmaceutical company focused on treating patients with serious blood-related disorders. Specifically, the company is engaged in developing and commercializing novel therapeutics in order to advance the fields of thrombosis and other hematologic conditions. The firm listed that its first two commercialized products are Andexxa^® and Bevyxxa^® (betrixaban), and that it is also advancing and developing cerdulatinib, a SYK/JAK inhibitor for use in treatment of hematologic cancers.

Portola Pharmaceuticals started off the day with a market capitalization of around $609.0 million with approximately 78.5 million shares outstanding and a short interest of about 23.0%. PTLA shares opened 130% higher today at $17.85 (+$10.09, +130.03%) over yesterday's $7.85 closing price. The stock has traded today between $17.71 and $17.91 per share and is currently trading at $17.83 (+$10.07, +129.77%).

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
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