Stock Market News for October 19, 2026

At a glance

On October 19, 2026, Merck KGaA agreed to acquire Silence Therapeutics for $20.00 per ADS (~$1.3 billion equity value); Veradermics reported positive Phase 3 results for oral VDPHL01 with 36.4 hairs/cm² at Month 6 in the high-dose arm; Disc Medicine said bitopertin met all Phase 3 endpoints, including a 41.4% PPIX reduction; TTM agreed to buy MKS’s Ophir Optics business for $650 million.

Deals and acquisitions

MKS (MKSI) to sell its Ophir Optics business to TTM Technologies for $650 million in cash, subject to customary closing adjustments and excluding Ophir Instruments and the Ophir brand.

TCGX Acquisition (TCGX) announce business combination with TriGemX Bio including a $160 million PIPE at $10.00 per share and expected gross proceeds of approximately $246 million, creating a combined company expected to trade as TGEM.

Red Cat Holdings (RCAT) announces proposed offer to acquire all outstanding Steyr Motors shares for €39.00 per share in an all-cash, fully financed offer, with acceptance expected to end December 18, 2026.

Drug trials and approvals

Veradermics (MANE) reports oral VDPHL01 met all primary and secondary endpoints in Phase 3 Study ‘304’, with Month 6 hair-count increases of 28.6 and 36.4 hairs/cm² in the 8.5 mg once- and twice-daily arms versus 6.6 for placebo.

Disc Medicine (IRON) reports bitopertin met all primary and secondary endpoints in the pivotal Phase 3 APOLLO trial, including a 41.4% reduction in whole-blood metal‑free protoporphyrin IX and 12.2 additional average monthly pain‑free hours in month 6 versus placebo.

EyePoint (EYPT) announces LUCIA, its second pivotal Phase 3 trial of DURAVYU in wet AMD, missed the primary non-inferiority vision endpoint versus on-label aflibercept, though it met key secondary endpoints including a 38% reduction in treatment burden (nominal p<0.0001).

Tempus AI (TEM) presents study data showing its AI-enabled pre-screening achieved greater than 80% sensitivity across 12 biomarkers in advanced non‑small cell lung cancer in a multicenter analysis of 60,459 cases; the panel remains in development.

Earnings and guidance

Cleveland-Cliffs (CLF) reports third-quarter 2026 net income of $165 million, revenue of $5.612 billion, diluted EPS of $0.26, adjusted EBITDA of $612 million and fourth-quarter adjusted EBITDA guidance of approximately $715 million.

EquipmentShare.com (EQPT) raises its full-year 2026 outlook, increasing total revenue guidance to $5,808–$6,045 million and raising rental-segment revenue growth to 43% at the midpoint; adjusted Core EBITDA is forecast at $2,136–$2,224 million.

Eos Energy Enterprises (EOSE) expects preliminary third-quarter 2026 revenue of $82–$83 million, with improved gross margins and backlog of approximately $765 million (about 3.2 GWh).

Partnerships and projects

Palantir Technologies (PLTR) partners with Knox Systems to help commercial software providers deploy in regulated federal cloud environments, combining Palantir’s accredited infrastructure with Knox’s path to FedRAMP authorization for FedRAMP and IL5 customers.

AST SpaceMobile (ASTS) advances space-based cellular broadband in Europe after Deutsche Telekom, Orange, Telefónica and Vodafone signed a Letter of Intent to explore a potential joint satellite‑spectrum bid and network integration.

X-Energy (XE) signs a Joint Development Agreement with American Electric Power and Amazon to evaluate a proposed 960 MW advanced nuclear project in Indiana using twelve Xe‑100 small modular reactors, with Amazon providing milestone-based funding support.

Transocean (RIG) announces contract awards for two ultra‑deepwater drillships in the U.S. Gulf adding approximately $550 million of firm backlog, including a ~700‑day campaign (~$325 million) and a ~450‑day campaign (~$225 million).

Financings and offerings

INLIF (INLF) prices a registered direct offering expected to raise approximately $3.75 million, including 435,000 Class A ordinary shares and pre‑funded warrants for up to 1,908,750 shares, with closing expected on or about October 20, 2026.

Leadership and restructuring

Chord Energy (CHRD) appoints Michael Lou as President and Chief Executive Officer with immediate effect; former CEO Danny Brown stepped down immediately from executive roles and the board.

EyePoint (EYPT) approves a strategic prioritization plan to cut approximately 53% of its workforce, prioritize DURAVYU development for diabetic macular edema, end pivotal wet AMD trials early, and target about $30 million in annualized savings with ~$9 million in separation charges.

Other notable news

Quantinuum (QNT) reports a world‑record logical fidelity of 99.9995% in error‑correction tests on its Helios quantum computer, a tenfold improvement versus its September 2026 result.

Summit Therapeutics (SMMT) initiates a global Phase II study of ivonescimab‑based regimens (SMT112‑216) in previously untreated advanced clear cell renal cell carcinoma, with clinical sites open in the U.S. and China and ~100 planned patients.