In a regulatory filing, Guardant Health disclosed that its CEO Helmy Eltoukhy sold 160.9K shares of common stock on January 22nd in a total transaction size of $25.6M, reducing his stake by about 5%.

BioXcel Therapeutics announced that the U.S. Food and Drug Administration has granted Orphan Drug Designation for Talabostat for the treatment of soft tissue sarcoma. Reference Link

Rush Street Interactive announced the launch of its flagship brand and industry leading online sportsbook, BetRivers.com, in Virginia. Beginning tomorrow, sports enthusiasts across the Commonwealth of Virginia will be able to register, deposit funds and place bets at BetRivers.com on their favorite teams and events safely from their mobile devices and computers.

Sorrento Therapeutics announced positive preliminary results from its Phase 1b study of human allogeneic adipose-derived mesenchymal stem cells for patients suffering from COVID-19-induced acute respiratory distress or acute respiratory distress syndrome. This ongoing study iss a single arm, non-randomized Phase 1b study of the safety and preliminary efficacy of COVI-MSCs administered every other day for three infusions for a total of 1 x 106 cells/kg. The primary objective is to evaluate the safety of intravenous infusion of allogeneic adipose MSC cells in patients with COVID-19-induced ARD or ARDS. The secondary objective is to evaluate efficacy outcome variables to give guidance regarding the risk/benefit ratio in patients with COVID-19 respiratory distress. The first three patients enrolled tolerated treatment well and improved rapidly. Each of the three patients was discharged from the hospital within a week of starting the patient's COVI-MSC infusions and two patients were discharged on the day of their last infusion. One of the patients had been in the hospital for three weeks, unable to be weaned from significant oxygen support, and another patient with uncontrolled diabetes had been discharged previously but had to be readmitted due to recurrent ARD. Each of the infusions were well-tolerated and no patient reported any infusion-related adverse events. A fourth patient is currently at the beginning of a course of treatment, with no safety issues following the patient's first infusion. Additional enrollment continues.

Target Corporation (TGT) announced a limited-edition collection with Levi Strauss & Co. (LEVI), featuring an assortment of home and lifestyle items and marking Levi's first Home partnership. Reinventing what a retailer's relationship with a national brand can represent, the Levi's for Target limited-edition Home collection builds on the decade-long partnership between the two iconic companies, which began with the introduction of the DENIZEN from Levi's value denim brand, and expanded in 2019 with the introduction of Levi's Red Tab brand at Target. As part of the Red Tab expansion, Target is rolling out curated in-store displays to be set in 500 stores by Fall 2021. The new Levi's for Target limited-edition collection launches Feb. 28, 2021. Available at Target.com and in most Target stores, the collection features thoughtfully-designed, durable pieces meant to inspire a more sustainable home and life.

Walgreens Boots Alliance (WBA) announced the appointment of RosalindBrewer as the company's Chief Executive Officer, effective on March 15, 2021. Brewer will also join the WBA Board of Directors upon assuming the role. She succeeds Stefano Pessina who, as previously announced, will transition to the role of Executive Chairman of the Board of WBA. Pessina has served as the CEO of the combined company for six years following the merger between Walgreens and Alliance Boots in December 2014. During his tenure, he transformed and modernized the company into a global pharmacy, health and wellness leader, significantly expanding WBA's retail footprint and investing in digitalization. Pessina will replace James Skinner as Executive Chairman of WBA in March 2021. Skinner will remain on the WBA Board as a non-executive director to facilitate a smooth leadership transition. Brewer most recently served as Chief Operating Officer, Group President and member of the Board of Directors of Starbucks Corporation (SBUX), where she has been instrumental in helping the company accelerate its growth strategy, expand its global reach and drive value for all of Starbucks' diverse stakeholders.

Says there will be more flexibility for workers in terms of time and location - unlikely to see return to January 2020. Says the key is maintain flexibility. Comments taken from Q2 earnings conference call.

The Allstate Corporation (ALL) has agreed to sell Allstate Life Insurance Company to entities managed by Blackstone (BX) for $2.8B. ALIC holds approximately 80%, or $23B, of Allstate's life and annuity reserves and generated net income of $467M in 2019 and a net loss of $23M in the first nine months of 2020. The transaction is subject to regulatory approval with an expected closing in the second half of 2021. Allstate will sell ALIC and certain subsidiaries, excluding Allstate Life Insurance Company of New York, to entities managed by Blackstone for $2.8B, including a pre-closing dividend from ALIC of up to $400M. All statutory earnings from March 31, 2020, to closing, will be retained by Allstate. The transaction will reduce Allstate's GAAP reserves by $23B. Blackstone will enter into an asset management agreement for ALIC's $28B of investments. Allstate will retain ownership of ALNY, which has $5B of GAAP reserves and is pursuing alternatives to sell or otherwise transfer risk to a third party. "Allstate has been surgically deploying capital out of spread-based products with life and annuity liabilities declining to $5 billion after the closing of this transaction," said Mario Rizzo, Allstate CFO. "The investment portfolio will decline by approximately $28 billion to $63 billion. A financial book loss of approximately $3.1 billion will be recorded in the first quarter of 2021 given the lower returns on equity for the annuity businesses. Adjusted Net Income Return on Equity will increase by approximately 1 percentage point," concluded Rizzo.

Says company is benefiting from digital technology growth. Comments taken from Q2 earnings conference call.