Instinct Bio secures Jakarta clinic site, sets subscription tiers

Instinct Bio (BIOT) shares fell 51.46% to $1.33 Tuesday and dropped another 20.30% in after-hours to $1.06. The Nasdaq-listed biotech completed a business combination with Relativity Acquisition Corp. It entered an indicative term sheet for an equity purchase facility to sell up to $150M of common stock over three years, priced near VWAP less a discount, to fund development and working capital.

Eli Lilly's phase 3 TRIUMPH-2 study shows retatrutide, a triple hormonal agonist, achieved significant weight loss (up to 20.8%) and glycemic improvements in adults with type 2 diabetes (T2D) and obesity. The study, presented at EASD 2026, involved 1152 participants and showed retatrutide's efficacy estimand exceeded 20% weight reduction, a threshold not previously reached in T2D patients.

The U.S. and Korea agreed on a framework committing up to $120B in Korean investment for constructing eight nuclear reactors in the U.S., including six Westinghouse AP1000 reactors and two Korean APR1400 reactors. The deal includes a 5-10% equity investment in Westinghouse by Korea. Brookfield Asset Management and Cameco are partners in the project, which aims to expand U.S. nuclear capacity to meet growing energy demand.

Rocket Lab (RKLB) signed a 20-launch deal with Synspective for Electron missions, the largest in Electron's history. Synspective has 47 contracted launches, with 34 remaining. Launches will occur annually from 2028 to 2031, accelerating Synspective's satellite constellation. Rocket Lab's backlog exceeds 100 missions.

Rocket Lab (RKLB) signed a 20-mission contract with Synspective for Electron rocket launches, the largest commercial agreement for the rocket. The deal includes 47 total missions, with launches scheduled from 2028 to 2031. Financial terms were not disclosed. Synspective plans to expand its satellite constellation using synthetic aperture radar technology.

The U.S. Navy awarded contracts to Huntington Ingalls Industries (HII), Galliano Marine Services, and Saronic to build 10 autonomous warships each, totaling 30 Medium Unmanned Surface Vessels (MUSV) at $40M per hull. HII's Romulus MUSV will support various roles, including ISR and mine countermeasures. Saronic plans a $3B shipyard in Texas, aiming to create 10,000 jobs and build both autonomous and manned vessels.