Alphabet Inc (NASDAQ:GOOG) is in the spotlight after the EU gave it around three more weeks to reply to antitrust charges concerning the accusations that the internet giant unfairly lowered the shopping service links of rival companies in Google search results. Alphabet now has until November 7 to respond to the accusations, which, if found guilty, could cost the company up to $7.4 billion in the worst-case scenario. According to our data, 126 funds that Insider Monkey tracks were long Alphabet Inc (NASDAQ:GOOG) Class C shares at the end of June.
Ocular Therapeutix Inc (NASDAQ:OCUL) shares have surged by 18% after the company announced it has entered into a strategic collaboration with Regeneron Pharmaceuticals Inc (NASDAQ:REGN) to develop a sustained release formulation of Aflibercept for the treatment of web AMD and other serious retinal diseases. Under the terms of the deal, Ocular is eligible for receive up to $305 million in milestone payments in addition to tiered high single-digit to low-to-mid teen-digit royalties on potential future net sales. CEO Amar Sawhney said:
“We are excited to partner with Regeneron to develop a potential first-in-class sustained release protein-based anti-VEGF hydrogel injection for wet AMD, DME, RVO, and other serious retinal diseases. This sustained release formulation could have the potential to significantly reduce dosing frequency and subsequently reduce doctor visits, thus reducing the burden of care for patients, caregivers and physicians, and may decrease the likelihood of certain side effects associated with frequent intravitreal injections.”
At the end of the second quarter, 11 funds from our database were long Ocular Therapeutix Inc (NASDAQ:OCUL) and 32 funds held shares of Regeneron Pharmaceuticals Inc (NASDAQ:REGN).