Qualcomm (QCOM), Apple (AAPL) Legal Battle Ends; Hancock Jaffe Labs (HJLI) in Focus; Pareteum (TEUM), Advanced Micro Devices (AMD) Upcoming Key Date
Qualcomm, Inc. (Nasdaq:QCOM) and Apple Inc. (Nasdaq:AAPL) reported an agreement to dismiss all litigation between the two companies worldwide. The settlement includes a payment from Apple to the chip maker giant. The companies also have reached a six-year license agreement - effective this past April 1st - including a two-year option to extend, and a multiyear chipset supply agreement.
Shares of Qualcomm soared $13.27 (or +23.21%) to $70.45 on Tuesday's trading session following the announcement.
Qualcomm designs, develops, manufactures, and markets digital communication products worldwide. The company invents breakthrough technologies that transform how the world connects, computes and communicates.
Apple designs, manufactures, and markets mobile communication and media devices, and personal computers. It also sells various related software, services, accessories, and third-party digital content and applications. The company offers iPhone, a line of smartphones; iPad, a line of multi-purpose tablets; and Mac, a line of desktop and portable personal computers, as well as iOS, macOS, watchOS, and tvOS operating systems.
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Hancock Jaffe Laboratories Inc. (Nasdaq:HJLI) specializes in developing and manufacturing bioprosthetic (tissue based) medical devices to establish improved standards of care for treating cardiac and vascular diseases. The company currently has two lead products: the VenoValve and the CoreoGraft.
HJLI's VenoValve was developed to treat severe cases of chronic venous insufficiency (CVI), a debilitating condition often associated with open venous ulcers and intense pain. Approximately 2.4 million patients in the U.S. suffer from CVI due to reflux in the deep venous system, and there are currently no FDA approved treatments for the condition.
HJLI has had several Pre-FDA meetings to discuss the pre-clinical and clinical pathway for FDA approval for the VenoValve. Preclinical prototype testing, including in vivo animal studies, and in vitro hemodynamic studies, have demonstrated that the VenoValve mimics the function of a properly functioning native venous valve.
Based upon feedback from the FDA, HJLI agreed to conduct a small first-in-human study in Colombia prior to the U.S. pivotal trial.
The company recently reported that it has successfully implanted VenoValves in four additional patients for its first-in-human study in Bogota, Colombia, adding that it expects to release preliminary data on the first group of VenoValve recipients at the end of June this year.
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Advanced Micro Devices, Inc. (Nasdaq:AMD) will report its first quarter 2019 financial results on Tuesday, April 30 after the close of market.
AMD, a semiconductor company, develops computer processors and related technologies for business and consumer markets.
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Pareteum Corp. (Nasdaq:TEUM) expects to report its first quarter 2019 financial results after the closing bell on Tuesday, May 7.
Pareteum operates a communications cloud services platform in Europe and internationally. Its platform provides mobility, messaging, and security services and applications, with a single-sign-on, application program interface (API), and software development suite.
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