Coherent (NYSE: COHR), Commences Review of Strategic Alternatives for Its Lithium Sulfur Battery Platform

Coherent Corp. (NYSE: COHR), a global leader in materials, networking, and lasers, today announced that it is evaluating strategic alternatives for its battery technology platform.

The platform encompasses a suite of cathode, electrolyte, and cell technologies built around the breakthrough sulfur immobilization technology developed by Coherent over the past decade. Cells based on immobilized sulfur cathodes have achieved industry-leading performance, finally unlocking the potential of sulfur as a battery cathode. These innovations have been recognized with multiple funding awards from the U.S. Department of Energy Vehicle Technologies Office (DOE VTO) and the Intelligence Advanced Research Projects Agency (IARPA) and are protected by 4 issued and 13 pending patents.

The announcement is a result of the strategic portfolio assessment that the company completed in August of this year.

Interested investors are encouraged to contact Tim Challingsworth, Vice President, Strategy and Corporate Development at [email protected]. The company does not anticipate making further public comments regarding this matter until a material development occurs.

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Organon (NYSE: OGN) Completes Acquisition of Dermavant

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Organon (OGN), a global healthcare company with a mission to improve the health of women throughout their lives, today announced the successful completion of its acquisition of Dermavant Sciences Ltd. from Roivant (ROIV). Dermavant is a company dedicated to developing and commercializing innovative therapeutic solutions in immuno-dermatology. Please see our prior announcement for a summary of the transaction terms.

VTAMA? (tapinarof) cream, 1%, is a novel nonbiologic, non-steroidal topical therapy approved by the U.S. Food and Drug Administration (FDA) for treatment of mild, moderate, and severe plaque psoriasis in adults with no safety label warnings or precautions and without restrictions on location and duration of use or body surface area. The FDA is reviewing a supplemental New Drug Application (sNDA) for VTAMA cream as a potential treatment for atopic dermatitis (AD) in adults and children two years of age and older, with Prescription Drug User Fee Act (PDUFA) action expected in the fourth quarter of calendar year 2024.

Plaque psoriasis and atopic dermatitis-commonly known as eczema-are common chronic inflammatory skin diseases affecting millions of people in the U.S. and around the globe.1,2 Psoriasis presents a significant impact to quality of life and atopic dermatitis is associated with a higher disease burden for women compared to men.