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  • Ole Miss coach Lane Kiffin is a top target for these openings, with potential offers reaching $13-14 million annually.
  • Kiffin’s success with the transfer portal and roster building has made him a highly sought-after commodity.
  • Despite his success at Ole Miss, Kiffin has not yet won a Power conference championship or reached the College Football Playoff.

Imagine you’re Lane Kiffin, and a potentially magical season is unfolding at Ole Miss while college football is going to hell around you. 

And everyone wants a piece of you. 

They’re practically firing coaches all over the country to get in line to offer Kiffin $13-14 million annually to reset their program and find a way to recapture the glory. 

Penn State fired James Franklin less than a year after he was one play from the national championship game. Florida fired Billy Napier after a win.

LSU needed a stiff bourbon, but eventually got around Sunday to firing Brian Kelly and giving him $53 million in go away money. And the only reason Hugh Freeze hasn’t been fired by Auburn is the decision-makers with all the cash tried to hire Kiffin three years ago. And failed. 

So there’s no incentive to fire a colossal failure of a coach, whom you hired because of his skillset at coaching and developing offense — and your offense is among the worst in the Power conferences.

Auburn will just wait in that other line over there. And maybe take a run at a guy named Urb.

These universities may as well be degenerate gamblers. What’s the difference?

They may as well be bellied up to the craps table, sweating and shaking and knowing ― I mean, just knowing ― this roll of the dice with $53 million stacked on one number isn’t imploding on the come out.

Come on, sevens!

Meanwhile back in reality, Kiffin is a year removed from blowing an opportunity to reach the College Football Playoff because of unthinkable losses to a terrible Kentucky team, and a Florida team that was on the verge of firing its coach but didn’t. 

Think about that fiscally reckless move: Florida could’ve gotten Kiffin much cheaper last year. Now they’ll have to make him the highest-paid coach in college football. Fully guaranteed, of course.  

That is, if he doesn’t think LSU is a better fit. 

This is where we are in this nuthouse of panic over patience, of if we don’t make a move, someone else will. There are other coaches who will be among the top of the collective wish list (Oregon’s Dan Lanning, Louisville’s Jeff Brohm, Missouri’s Eli Drinkwitz), but there’s little doubt these early firings are a move to get in line for the hottest coach of the moment. 

For a coach who has never reached the CFP, and never won a Power conference championship. It doesn’t mean Kiffin can’t or won’t, it just means he hasn’t.

And he’s going to make bank no matter what. 

Years ago, when then-Florida coach Steve Spurrier was the only college football coach earning a million a year, Washington hired Rick Neuheisel away from Colorado and paid him a million annually. 

Spurrier and Neuheisel were (and still are) good friends and golfing buddies, and Spurrier quipped to Neuheisel, “How much are they going to pay you when you win a championship, Ricky?”

As much as anything, they’re getting in line to pay Kiffin because he — maybe more than anyone — has figured out this transfer portal business. In the age of player empowerment, Kiffin understands and embraces the maddening job of roster building.

The multiple double-digit win seasons at SEC outcast Ole Miss is impressive, but imagine if he were at a program that could consistently land a Top-5 high school recruiting class — and then supplement from the portal.

Instead of turning over his roster every season. 

If you’re wondering why Kiffin would leave a program he has built into an elite player in the CFP race, look no further. At some point, there will be a missed season (or two) from the transfer portal, and then you’re chasing. 

Just look at Mike Norvell at Florida State. He somehow can’t consistently recruit high school players at an elite level, and has been reduced to the grab bag that is the portal. 

Who among us would ever think the FSU coach would struggle recruiting elite high school talent? In the state of Florida

You don’t need to imagine what Kiffin would do as a coach at Florida or Florida State, deep in the heart of one of the top three states for high school talent. Back in the day, Kiffin and his young pal Steve Sarkisian recruited the state of California like few have, loading up Pete Carroll’s USC roster for a dynastic run of conference championships and national titles.

Kiffin will crush high school recruiting in Florida or Louisiana (another talent-rich state), and the pressure of relying on the portal season after season won’t take a majority of his coaching oxygen. 

All of these programs lining up for Kiffin have similar money, and none are more invested than the other. Ole Miss will do whatever Kiffin wants to keep him, both contractually and an increase of NIL funds. 

This decision, no matter how many more blue-blood programs get in line, will be more about ease of transition and roster building. Not similar money and NIL commitments.

When Kiffin accepted his first major college job in 2009 at Tennessee, he roared into the stoic league taking shots at everyone. Coaches, players, the SEC commissioner; you name it, no one was safe. 

He later admitted he did so because the Tennessee job was suddenly stale and needed a jolt of life. He was the center of attention for all the wrong reasons. 

Now he’s in the thick of it again as the only right in a sea of wrong. 

And he’s going to make bank no matter what.

Matt Hayes is the senior national college football writer for USA TODAY Sports Network. Follow him on X at @MattHayesCFB. 

This post appeared first on USA TODAY

In Sunday’s 38-14 loss to the Indianapolis Colts, the No. 1 pick in this year’s NFL draft once again aired out his feelings in a public fashion.

With the Titans trailing 17-7 in the third quarter, Tennessee opted to punt from Indianapolis’ 42-yard line after being stonewalled on a third-and-3 run by Tony Pollard. That call didn’t sit well with Ward, who appeared to mouth an expletive and question the decision by interim coach Mike McCoy in an interaction that quickly became a viral clip on social media.

Johnny Hekker’s punt only went 22 yards, and Colts running back Jonathan Taylor raced for an 80-yard touchdown on Indianapolis’ next play.

‘I think I’m a competitor,’ Ward said in a postgame news conference when asked about the interaction. ‘Our whole offense is like that. Our whole defense is like that. … I just think the biggest thing is we want to be an aggressive team. Especially with the record we have right now, we have to be an aggressive team at the end of the season to get where we want to be.’

Ward stood by his reaction but said it was a product of an aggressive mindset, adding that the problem was ultimately one of execution.

‘I just think it’s a missed opportunity for us as a team to get a first down and keep the drive moving. We weren’t down that much at that time,’ Ward said. ‘So, we’re going to always support whatever decision is made, but at the end of the day, we shouldn’t put ourselves in that position. We should get the first down on third down.’

McCoy, who was in just his second game as interim coach after Tennessee fired Brian Callahan, said he believed that the thinking that drove the decision was sound despite the outcome.

‘It was something we talked about,’ McCoy said of weighing whether to go for it on fourth down. ‘You know, hindsight, you look back and the last thing I thought they were going to do was have the big touchdown run after that. So yeah, I got it. You look back and say, ‘I should have gone for that.’ But initially when I said to punt it, you pin them deep, and the defense had done nice through the second quarter.’

Ward completed 22 of 38 passes for 259 yards with one touchdown and one interception.

Save for a 22-21 win over the Arizona Cardinals in Week 5, the Titans have dropped every game since their season opener by at least 10 points.

This post appeared first on USA TODAY

USA Today Sports has live coverage of theSteelers vs. Packers in today’s NFL ‘Sunday Night Football.’

Congratulations to fantasy football managers who survived ‘Byemageddon’ in Week 8. A new challenge will await them in Week 9, when four more teams are out of action.

The Cleveland Browns, New York Jets, Philadelphia Eagles and Tampa Bay Buccaneers will all be off in Week 9. That will render several big-name fantasy producers – namely Saquon Barkley and Emeka Egbuka – unavailable, leaving fantasy managers looking for solid bye-week replacements.

Meanwhile, other fantasy footballers will be looking for injury replacements. New York Giants rookie Cam Skattebo suffered a gruesome-looking ankle injury in Week 8, so his replacements will be among the hottest potential adds on the Week 9 waiver wire.

This week, the waiver wire contains more intriguing running back targets than usual. There are also a couple of passing-game weapons that could be nice upside plays or bye-week fillers for fantasy managers in need of help in that area.

Here’s a look at the best players to target on waivers ahead of Week 9.

Week 9 fantasy football waiver wire targets

RB Tyrone Tracy Jr., New York Giants (Rostered in 48% of Yahoo leagues)

Giants running back Cam Skattebo suffered a gruesome ankle dislocation in the second quarter of the team’s Week 8 game against the Eagles. He was carted off in an air cast and he figures to be out long-term, if not for the remainder of his rookie season.

That will open the door for Tracy to re-emerge as New York’s lead back. The second-year pro racked up 39 yards on 10 carries, most of which came after Skattebo’s exit. The 25-year-old entered Sunday’s game having averaged just 3.5 yards per carry on the season, but he totaled 1,123 scrimmage yards and five touchdowns across 12 starts (and 17 appearances) during his rookie campaign in 2024.

RB Devin Singletary, New York Giants (Rostered in 1% of Yahoo leagues)

The Giants figure to feature Tracy as their primary Skattebo replacement, but Singletary is also part of the plan to replace Skattebo. The 28-year-old had three touches and 28 yards after the rookie left Sunday’s game, but he could see increased action moving forward.

Last season, Singletary averaged just 6.2 touches per game from Week 7 on compared to Tracy’s 15.6. Still, the veteran is worth adding as a high-end handcuff who could emerge as a matchup-dependent flex if the Giants lighten Tracy’s workload because of an early-season shoulder dislocation.

RB Tank Bigsby, Philadelphia Eagles (Rostered in 17% of Yahoo leagues)

Bigsby was viewed as a solid fantasy sleeper to start the 2025 NFL season but an in-season trade to the Eagles briefly quashed his value. Now, the 24-year-old has emerged as the clear-cut backup behind Saquon Barkley and fared well in the fourth quarter after Barkley exited the game with a groin issue.

Barkley may not miss any time because of his injury, especially with the Eagles on bye in Week 9. Still, Bigsby showed what he could do if Barkley ever does miss a game, racking up 104 yards on nine carries in relief of him. Fantasy managers should act accordingly and get him on their rosters as a high-upside handcuff.

RB Dylan Sampson, Cleveland Browns (Rostered in 13% of Yahoo leagues)

Sampson is in a similar boat to Bigsby. The starter in front of him (Quinshon Judkins) got hurt, but the severity of the injury isn’t yet clear. The Browns are also heading into a Week 9 bye, so Judkins may not miss much time.

Even so, Sampson is worth adding. He seems to have usurped the backup role from Jerome Ford – who has been the subject of trade rumors – and would be in line to emerge as Cleveland’s backfield leader if Judkins does miss any time.

Sampson didn’t log a yard on three carries against the Patriots, but he had five catches for 26 as a checkdown option for Dillon Gabriel. That could give him flex value in PPR leagues even if Judkins ends up being OK.

RB Isaiah Davis, New York Jets (Rostered in 9% of Yahoo leagues)

Davis remains behind Breece Hall in New York’s running back rotation, but Hall has been the subject of trade rumors. If the Jets trade the free-agent-to-be, that could allow Davis to step into the lead back role in New York with Braelon Allen (knee) still out of action.

Even if the Jets keep Hall, Davis can still be trusted as a flex in PPR leagues. He had five catches for 44 yards against the Bengals as part of a 12-touch, 109-yard outing.

WR Jayden Higgins, Houston Texans (Rostered in 27% of Yahoo leagues)

With Nico Collins out in Week 8, Higgins emerged as C.J. Stroud’s favorite target. The rookie saw a team-high eight targets and turned them into four catches for 34 yards and a touchdown.

Higgins may not see as high a target share when Collins returns from his concussion. Still, he could earn the team’s No. 2 receiver position as the season progresses, at which point the 6-4, 215-pound wide-out would be an intriguing fantasy option thanks to his size.

WR Jaylin Noel, Houston Texans (Rostered in 9% of Yahoo leagues)

Like Higgins, Noel has started building chemistry with Stroud. Noel posted five catches for 63 yards a week after generating four catches for 77 yards against the Seahawks.

Noel (5-11, 201 pounds) may not profile as the same type of scoring threat as Higgins, but his shiftiness and separation skills should make him a solid WR3 or flex option moving forward.

WR Troy Franklin, Denver Broncos (Rostered in 37% of Yahoo leagues)

Franklin had a great showing against Dallas’ bottom-ranked defense against fantasy wide receivers. The second-year pro led the team in targets (8), receptions (6), receiving yards (89) and receiving touchdowns (2) while continuing to show great chemistry with Bo Nix.

Franklin has a tough matchup on deck with the Houston Texans, but he’s still worth rostering as the second-most targeted player on a solid-looking Broncos offense.

QB Sam Darnold, Seattle Seahawks (Rostered in 36% of Yahoo leagues)

Jalen Hurts and Baker Mayfield are on bye in Week 9. Fantasy managers searching for replacements for them can look no further than Darnold, who is facing a solid-looking matchup with a Commanders team that has surrendered the sixth-most fantasy points per game to QBs entering Week 8.

Darnold has posted multiple passing touchdowns in four of his last six games and is averaging 250.6 passing yards per game this season. He has a high floor and should be ready for a big outing after his Week 8 bye.

This post appeared first on USA TODAY

Jerry Jones and the Dallas Cowboys are rumored to be willing participants ahead of the NFL’s Nov. 4th trade deadline.

One might believe the Cowboys’ 44-24 blowout loss to the Denver Broncos on Sunday might persuade Jones to be aggressive in the coming days leading up to the deadline, but the Cowboys’ owner told reporters Week 8’s disappointing performance won’t have any impact on the team’s decision-making process.

“A loss is discouraging but as far as my temperament, if I saw a proposition for us to help this team, no matter what this score was today, I would look at it on the merits of this team. If you’re talking about trading for a player or trading a player, I’d completely look at it on the merits of this team, both for next week or the weeks after or for the longer term,” Jones told reporters following the Cowboys’ loss. “No, today would not affect decisions on trading for a player.”

Denver produced 426 total yards during Sunday’s wire-to-wire win over Dallas to improve its winning streak to five in a row. Cowboys QB Dak Prescott threw two interceptions and was sacked twice by a Broncos defense that leads the league with 36 sacks.

The Cowboys gave up a season-high 44 points. Dallas came into Week 8 ranked second-to-last in the NFL in both total defense and points allowed.

Jones hasn’t been shy about the possibility of the Cowboys making a move in advance of the trade deadline. The Cowboys clearly need assistance on defense. Their defensive shortcomings have only magnified after they traded Micah Parsons to the Green Bay Packers just prior to the start of the regular season.

Follow USA TODAY Sports’ Tyler Dragon on X @TheTylerDragon.

This post appeared first on USA TODAY

Luka Dončić spearheaded the Los Angeles Lakers’ offense for the first two games of the 2025-26 NBA season.

The Lakers went 1-1 to start the season, but it could be the Lakers’  momentum on offense that’s coming to a screeching halt.

Dončić suffered multiple injuries in the team’s rout of the Minnesota Timberwolves on Friday.

The Slovenian was listed as questionable with a left finger sprain on Saturday evening for the game against the Sacramento Kings on Sunday, Oct. 26.

He was officially ruled out on Sunday with a finger sprain and a lower left leg contusion and will miss at least a week.

The star guard is expected to be reevaluated next week. That leaves the Lakers without their two best scorers in Dončić and LeBron James and in search of where the offensive production will come from. When James’ injury was announced on Oct. 9, the four-time MVP was expected to be reevaluated in three to four weeks.

‘We have to do everything with pace tonight,’ Lakers coach JJ Redick told reporters before Sunday’s game against the Kings.

He has only scored a game over 40+ points once in his career, scoring 45 in a game against the Indiana Pacers on Feb. 8, when James and Dončić were not available to play.

More could be asked of new center Deandre Ayton, who has a career high of 35 points, but who only scored 10 points in the season opener against the Golden State Warriors and 15 against Minnesota.

The Lakers had just four players come off the bench against Golden State before seeing six bench players play in the 128-110 win over the Timberwolves. The question for the Lakers now is where the scoring production will come from on the second unit. Jake LaRavia had the most off the bench against Minnesota with six points. He also had five against the Warriors.

Marcus Smart and Jarred Vanderbilt provided a strong defensive mentality when they came in, but now will likely need to step it up on the offensive end. Smart has 12 total points through the first two games. Vanderbilt has just two.

Jaxson Hayes will be unavailable for a second straight game due to left knee soreness.

How to watch Lakers vs. Kings

The Kings will host the Lakers on Sunday, Oct. 26, at 9 p.m. ET (6 p.m. PT) at the Golden 1 Center. The game will be available on NBA League Pass and locally on NBC Sports California and Spectrum Sports Network.

This post appeared first on USA TODAY

Investor Insight

Cartier Resources presents a compelling gold investment opportunity, driven by a growing Abitibi resource, solid institutional support, and upcoming development milestones.

Overview

Cartier Resources (TSXV:ECR,FSE:6CA) is a Quebec-based gold exploration company advancing a compelling growth story anchored in one of Canada’s most prolific gold regions — the Abitibi Greenstone Belt. With a focused strategy, institutional support and a commitment to innovation, Cartier is building a significant gold resource base while positioning its flagship Cadillac project as an emerging mining camp east of Val-d’Or. As the company transitions from explorer to potential developer, the coming months present multiple catalysts for a significant valuation uplift.

Cartier projects in the Abitibi Greenstone Belt in Quebec

The Cadillac project has evolved from a single mine project into an emerging gold camp with multiple deposits, advanced resource modeling, and a clear development path. Located in a mining-friendly jurisdiction with existing infrastructure, the Cadillac project is ideally positioned to attract development partners, strategic investments, or acquisition interest from senior producers.

In 2023, using a gold price of US$1,750, Cartier completed a preliminary economic assessment (PEA) which confirmed the project’s robust economics, with a production forecast of 116,900 oz/year over 9.7 years and a low AISC of US$755/oz.

With permitting pathways de-risked by historical mining activity and extensive drilling already completed, Cartier has launched a fully funded 100,000-metre diamond drilling program. By combining AI and geostatistical reinterpretation techniques with traditional exploration methods, the company is positioning itself at the forefront of modern mineral discovery.

The Cadillac project has all the hallmarks of a high-potential development-stage gold asset: grade, scale, jurisdiction, infrastructure, and strategic backing. Cartier is also actively pursuing parallel value-creation opportunities, including the reprocessing of legacy tailings at the Chimo site and monetization of non-core assets like Wilson, Fenton and Benoist.

Company Highlights

  • District-Scale Gold Project: Cadillac: Cartier’s core asset consolidates the former Chimo Mine and East Cadillac properties into a district-scale land package on the prolific Larder Lake-Cadillac Fault — host to more than 100 million ounces of historic gold production.
  • Aggressive Exploration Program: In 2025, Cartier launched a 100,000-meter drill program — one of the largest in the region — to expand its substantial gold resources and unlock Cadillac’s camp-scale potential.
  • Innovation in Discovery: The company is leveraging AI-assisted mineral discovery tools, in partnership with VRIFY, to sharpen drill targeting and accelerate new discoveries.
  • Strategic Partnership with Agnico Eagle: Agnico Eagle, Cartier’s largest shareholder with a 28 percent equity stake, provides financial strength and validates the company’s assets and strategy.
  • ESG-Friendly Tailings Reprocessing: Cartier has introduced a low-capex initiative to evaluate reprocessing 600,000 tons of historic tailings, representing a potential near-term revenue stream with ESG benefits.
  • Attractive Valuation With a clean share structure and a market cap of C$52.9 million, Cartier offers significant re-rating potential as exploration and development catalysts unfold.

Key Projects

Cadillac Project

The company’s flagship Cadillac project is a consolidated land package totaling 11,525 hectares, located along a 15-kilometre strike of the Larder Lake–Cadillac Fault (LLCF) — one of the most productive gold-bearing structures in Canada. This fault zone has historically produced over 100 million ounces of gold across multiple camps. Cartier’s land package includes the past-producing Chimo Mine (379,012 oz gold from 1964 to 1997), West Nordeau, and several new discovery zones over a 10-km strike length straddling the LLCF.

Cartier has completed four mineral resource estimates (MREs) between 2019 and 2022. The most recent, published in May 2023, outlined 7.1 million tons (Mt) @ 3.1 grams per ton (g/t) gold (720,000 oz) indicated and 18.5 Mt @ 2.8 g/t gold (1.63 Moz) inferred. The PEA evaluated an underground mining operation fed from three primary zones (Chimo, East Chimo, West Nordeau), with a 2.9-year payback on a C$341 million capex. The PEA assumes an average head grade of 3.0 g/t gold and annual production of 116,900 oz gold. Infrastructure advantages include an existing shaft, power line and permitted tailings facility.

Cartier Resources has commenced its fully funded 100,000-metre drill program at the Cadillac Project in Quebec, the largest ever on the property. The 18-month campaign is designed to both expand known gold zones and test new high-priority targets along the Cadillac Fault Zone. With $11 million in cash and no debt, Cartier is well positioned to advance Cadillac’s district-scale gold potential.

Chimo Tailings Project

As part of Cartier’s sustainability-focused development strategy, the company is evaluating the potential for reprocessing approximately 600,000 tons of historical tailings deposited during the Chimo Mine operations. This project could unlock near-term, low-cost production with a minimal environmental footprint. Cartier will launch metallurgical characterization to assess gold recovery potential and economic viability. The project benefits from proximity to several underutilized gold mills in the Val-d’Or region, potentially enabling toll milling agreements.

Other Projects: Wilson, Fenton and Benoist

Cartier also holds 100 percent ownership of three additional gold projects — Wilson, Fenton and Benoist — all located within the Abitibi Belt and each hosting historical gold mineralization or compliant resources. The Wilson Project (1,750 ha, three zones), Fenton (671 ha, 12 zones) and Benoist (3,086 ha, two zones) are currently available for joint ventures or sale. These assets offer significant exploration upside and optionality, allowing Cartier to remain focused on Cadillac while preserving long-term value.

Management Team

Philippe Cloutier – Founder, President, CEO and Director

Philippe Cloutier is the founder and driving force behind Cartier Resources. A professional geologist with over 35 years of experience in the exploration and development of precious and base metal deposits, Cloutier has a deep technical understanding of the Abitibi Greenstone Belt, having spent most of his career advancing projects in this prolific region.

Nancy Lacoursière – Chief Financial Officer

Nancy Lacoursière brings over 20 years of experience in corporate finance, accounting and strategic financial management. She has held CFO and senior finance positions across the natural resources and manufacturing sectors, with a strong focus on Quebec-based operations.

Ronan Déroff – VP of Exploration

Ronan Déroff is a senior exploration geologist and Cartier’s designated qualified person under NI 43-101. With over 15 years of experience in mineral exploration, resource modeling, GIS and project management, Déroff leads the technical execution of Cartier’s exploration strategy. He has overseen the development of multiple MREs and PEAs for the Cadillac project, and played a central role in integrating modern data analysis and AI-assisted targeting into the company’s workflow. He holds a Masters in operations and management of mineral resources (EGERM), from the Université d’Orléans (France).

This post appeared first on investingnews.com

The third quarter was a pivotal period for both the biotech and pharmaceutical sectors, with regulatory developments and an increase in business deals shaping the landscape for the industries.

Public biotech indexes rallied above critical levels last seen in 2021, with the NASDAQ Biotech Index (INDEXNASDAQ:NBI) closing 21 points ahead for the quarter and up 11 percent year-to-date.

Emerging artificial intelligence (AI) applications are becoming increasingly critical in drug discovery and R&D, highlighted by products like AlphaFold and new draft guidance from the US Food and Drug Administration (FDA) that encourages AI use in regulatory submissions. However, cautious funding approaches remain, especially for early stage companies.

This confluence may signal a sector resurgence, despite continued funding caution for early stage firms.

Biopharma M&A activity picks up

In a Q3 report on M&A activity, Oppenheimer notes that biopharma market sentiment showed an upward trajectory during the quarter, with expectations that deal flow will continue to increase through the end of 2025.

William Blair, a global investment banking and asset management firm specializing in biopharma investments, also notes an uptick in momentum in a recap of Q2 activity in the biopharma space, citing positive clinical data, a wave of public M&A activity and more clarity on tariffs and drug pricing as catalysts.

Total M&A transaction value reached US$38 billion for the quarter, according to data analyzed by Oppenheimer, including US$20 billion in September alone. Clinical-stage acquisitions saw their strongest quarter since late 2023, driven by early stage assets in the oncology, immunology and cardiovascular-metabolic areas.

The central nervous system space saw a pause in deals for the first time since the beginning of 2024, reflecting shifting investment priorities. Small molecules and antibodies maintained their leading positions as prevalent treatment modalities in deals, while emergents like bispecific antibodies, multi-specific antibody-drug conjugates and CAR-T therapies gained traction. However, the overall M&A market for antibody-drug conjugates remained cautious, with the exception of Seribant Therapeutics’ acquisition of Y-mAbs Therapeutics for US$412 million.

Public company takeouts continued to outnumber private company acquisitions for the second consecutive quarter; however, private companies still attracted strong interest from investors after a sluggish first half of 2025.

Oppenheimer’s Private Placement Activity report notes that a significant increase was observed in September, with companies with a clinical pipeline and a platform commanding the highest valuations.

Strategic partnerships between established pharmaceutical leaders and innovative biotech firms continued to underscore the ongoing efforts by pharma leaders to build and diversify their pipelines.

Roche Holding (OTCQX:RHHBY,SWX:ROG) and Zealand Pharma (OTC Pink:ZLDPY,CPH:ZEAL) entered into an agreement to co-develop and co-commercialize weight-loss drug candidate petrelintide in a deal valued at up to US$5.3 billion, reflecting ongoing interest in weight-management therapies, despite market challenges and competitive pressure.

Meanwhile, Bristol-Myers Squibb (NYSE:BMY) and BioNTech (NASDAQ:BNTX) agreed to co-develop and co-commercialize a novel cancer immunotherapy targeting multiple tumor types in a deal worth up to US$11 billion, and Pfizer (NYSE:PFE) partnered with 3SBio (OTC Pink:TRSBF,HKEX:1530) to advance a new cancer drug candidate.

Both agreements highlight ongoing efforts to expand oncology treatment options.

Cell and gene therapies continued to draw investor attention, and the central nervous system space saw an increase in average deal size. William Blair notes that cell and gene therapies remain a priority area for venture capital investors, as well as public market investors, despite regulatory complexities.

Initial public offering (IPO) activity rebounded meaningfully in Q3 after a quieter first half of 2025, with LB Pharmaceuticals’ (NASDAQ:LBRX) September offering serving as a marker of renewed capital markets appetite.

Secondary public offerings and clinical-stage private financings also increased, fueled by promising clinical data and expanding investor participation, including from international markets such as China.

In parallel, funding for AI-driven drug discovery platforms continued to capture investor interest, with rounds for companies like Isomorphic Labs, Pathos and Lila Sciences.

Regulatory and policy developments

US President Donald Trump’s second term has brought a shift to more business-friendly stances, impacting healthcare M&A and trade. The Federal Trade Commission has signaled intentions to ease antitrust scrutiny, potentially speeding up big pharma and biotech dealmaking and encouraging higher transaction volumes that consolidate the sector.

A central policy focus is the onshoring of biopharmaceutical manufacturing, with the administration actively pursuing tariff negotiations to reduce import costs and bolster supply chain resilience. The landmark deal between the government and Pfizer to lower drug prices in Medicaid in exchange for tariff relief exemplifies this dual approach.

These tariff adjustments are designed to ease the burden on drug importation costs, incentivizing companies to invest more domestically while managing global supply chain risks. Lara Castleton, US head of portfolio construction and strategy at Janus Henderson Investors, has identified this agreement as “the catalyst for healthcare.” She further suggests that the sector is likely overdue for a comeback, having lagged behind the tech market earlier in the year.

Trump has emphasized the expectation that other pharma companies will follow suit, intensifying onshoring efforts. As of September 30, large pharma had committed roughly US$368 billion to US-based manufacturing facilities.

Additionally, the FDA approved 45 new drug applications in Q3, marking a notable increase from previous quarters. This surge was driven by accelerated approvals, largely in the gene and cell therapy sectors, as well as innovative biologics targeting rare diseases and oncology.

Biotech and pharma market forecast for 2025

The biotech and pharma sectors entered Q4 on firm footing. Supportive market dynamics are expected to persist as the year continues, with 2025 on track to reach US$93 billion in total transaction value.

Several catalysts are poised to shape the healthcare landscape moving forward.

An anticipated IPO from MapLight Therapeutics, focusing on neurology therapies, will reveal investor appetite for specialty pharma assets in a market that had a bullish close to Q3, but faces questions about sustaining momentum.

On the regulatory front, FDA decisions are expected for a handful of treatments in gene and cell therapy, as well as oncology. Approvals are expected to accelerate, bolstered by programs aimed at speeding up evaluations of novel treatments like CRISPR-based medicines, stem cell research and nutraceuticals.

Leadership changes may also foster innovation in unconventional medical fields such as stem cell research and nutraceuticals. Amid an evolving regulatory and political landscape, Reed Jobs has advocated for sustained public funding to fuel biomedical progress, delivering a key congressional address on National Institutes of Health protection in September. Beyond advocacy, he is also building a nearly US$1 billion biotech fund focused on next-generation cancer therapies, highlighting the vital intersection of public research funding and private sector innovation.

Policy clarity around drug pricing reforms and Medicaid tariff relief will critically influence commercial access and pricing dynamics. The GLP-1 sector remains under the spotlight following the announcement of Trump’s plans to reduce the monthly cost of GLP-1 drugs like Ozempic and Wegovy to US$150.

AI’s expanding role in drug discovery, clinical trial design and digital therapeutics will continue to inspire industry innovation, likely attracting significant funding and fostering new collaborations.

However, volatility related to regulatory appointments, trade uncertainties and notably the ongoing US federal government shutdown presents near-term challenges. Investors and industry participants will closely monitor clinical data and regulatory shifts to navigate the evolving landscape successfully.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Here’s a quick recap of the crypto landscape for Friday (October 24) as of 5:00 p.m. UTC.

Get the latest insights on Bitcoin, Ether and altcoins, along with a round-up of key cryptocurrency market news.

Bitcoin and Ether price update

Bitcoin (BTC) was priced at US$110,645, a 0.3 percent increase in 24 hours. Its lowest valuation of the day was US$109,873, and its highest was US$111,266.

Bitcoin price performance, October 24, 2025.

Chart via TradingView.

Bitcoin’s medium-sized investors are continuing to buy even after the US$19 billion liquidation event earlier this month, preserving the market’s long-term bullish structure, according to CryptoQuant.

Entities holding between 100 and 1,000 BTC have added roughly 907,000 BTC over the past year, which analysts say represents a strong accumulation trend that historically aligns with upward price momentum.

Recent price action reflects this institutional backing, with Bitcoin reclaiming levels above US$110,000 amid softer inflation data and improved market sentiment. However, CryptoQuant warned that short-term demand is softening as the cohort’s 30-day balance has fallen below its moving average, suggesting potential near-term caution until a catalyst, such as renewed exchange-traded fund (ETF) inflows, emerges.

Ether (ETH) was priced at US$3,928.56, a 1.8 percent increase in 24 hours. Its lowest valuation of the day was US$3,872.67, and its highest was US$3,968.61.

Altcoin price update

  • Solana (SOL) was priced at US$193.09, at its highest valuation of the day, up by 0.9 percent over the last 24 hours. Its lowest valuation of the day was US$189.23.
  • XRP was trading for US$2.51, an increase of 4.2 percent over the last 24 hours and its highest valuation of the day. Its lowest was US$2.46.

Crypto derivatives and market indicators

The cryptocurrency market has experienced some fluctuations with a mixed but generally cautious outlook. The crypto derivatives market has shown some signs of recovery and increased activity after the earlier October volatility.

Liquidations for contracts tracking Bitcoin have totaled approximately US$5.89 million in the last four hours, the majority of which have been short positions, indicating a possible short squeeze or short-covering rally.

This aligns with Bitcoin’s price rebound and trader repositioning after recent dips.

Ether liquidations showed a different pattern; its US$7.01 million liquidations were fairly evenly split between long and short positions, suggesting balanced market dynamics and some ongoing indecision or consolidation.

Futures open interest for Bitcoin was up by 0.4 percent to US$71.27 billion over four hours, indicating growing trader interest and increasing liquidity, with a slight decrease in the final hour of trading. Ether futures open interest moved by +0.86 percent to US$45.94 billion, also showing a modest pullback as markets closed.

The funding rate remains positive, with both Bitcoin and Ether showing it at 0.005, a sign of modest bullish sentiment but not extreme leverage. Bitcoin’s relative strength index stood at 55.4, in a neutral to slightly bullish momentum phase, further supporting a stable recovery rather than a parabolic move.

Fear and Greed Index snapshot

CMC’s Crypto Fear & Greed Index has slightly trended upwards into 32, but remains in fear territory, an improvement from this week’s lowest score (25).

CMC Crypto Fear and Greed Index, Bitcoin price and Bitcoin volume.

Chart via CoinMarketCap

Today’s crypto news to know

Trump pardons Binance founder

US President Donald Trump has granted a full pardon to Binance founder Changpeng Zhao, wiping away his 2024 conviction for violating US anti-money laundering laws. Zhao, better known as “CZ,” served four months in prison and had been barred from running financial ventures under the plea deal.

The move follows months of lobbying by Binance, which paid a record US$4.3 billion fine as part of its own settlement with federal prosecutors. White House Press Secretary Karoline Leavitt called the case “a politically motivated overreach by the Biden administration,” insisting the pardon was meant to correct an injustice.

Critics argue the decision reflects Trump’s growing financial ties to the crypto industry, citing his personal investments and recent push for a “national cryptocurrency reserve.” Zhao thanked Trump on social media, saying he is “deeply grateful” for the decision and eager to “continue supporting innovation responsibly.”

Bitfarms surges on Jane Street investment

Crypto miner Bitfarms (TSX:BITF) saw its shares surge on Friday after trading firm Jane Street said it has acquired a 5.4 percent ownership stake in the company, as well as a 5 percent stake in Cipher Mining (NASDAQ:CIFR).

This move from a major institutional market maker, known for its strategic investments in the digital asset space, highlights the growing institutional involvement in cryptocurrency mining businesses and their expanding role within the tech sector’s market rally.

Polymarket confirms POLY token launch

Prediction platform Polymarket has confirmed plans to launch its long-awaited POLY token following a US$2 billion investment from Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange.

Speaking on the Degenz Live podcast, Chief Marketing Officer Matthew Modabber said both the token and airdrop are “officially in motion,” confirming rumors that have swirled for months.

Modabber emphasized that the launch will prioritize real utility and “long-term viability,” aligning with Polymarket’s push to relaunch its US app after receiving fresh regulatory clearance.

Sygnum Bank, Debifi partner for multiSYG Bitcoin lending product

Sygnum Bank has partnered with Debifi, a Bitcoin-backed lending platform, to introduce MultiSYG, a new multisignature Bitcoin lending product slated for launch in the first half of 2026.

MultiSYG allows clients to borrow fiat currencies against their Bitcoin holdings. These Bitcoin assets are held in a 3-of-5 multisig escrow wallet, with keys distributed to the borrower, Sygnum and independent signers. This structure ensures borrowers maintain partial control and on-chain cryptographic proof of their collateral for the loan term.

The product is designed to enhance transparency and security in lending by preventing rehypothecation and eliminating the need for blind trust in custodians, which are common issues in traditional lending practices. MultiSYG is specifically tailored for institutional and high-net-worth clients seeking bank-grade terms and flexible loan services.

JPMorgan to let institutions borrow against Bitcoin, Ether holdings

JPMorgan Chase (NYSE:JPM) is preparing to let its institutional clients borrow cash using Bitcoin and Ether as collateral. Set to launch by the end of 2025, the initiative will allow the firm’s clients to pledge cryptocurrencies directly rather than through ETFs, using a third-party custodian to safeguard tokens.

The pilot follows successful internal testing involving BlackRock’s iShares Bitcoin Trust ETF (NASDAQ:IBIT) earlier this year. JPMorgan already accepts crypto-linked ETFs as loan collateral.

Crypto.com applies for national trust bank charter

Crypto.com has applied to the US Office of the Comptroller of the Currency for a National Trust Bank Charter.

This federal charter would enable Crypto.com to provide regulated crypto financial services across the US, including custody and staking. The company plans to focus on institutional clients, offering solutions such as digital asset treasuries, ETFs and corporate custody. This move signifies Crypto.com’s progression towards compliance with traditional financial regulations and the expansion of its regulated presence in the US.

Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.

Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

Tight export controls out of the Democratic Republic of Congo (DRC) added tailwinds to cobalt prices in Q3, prompting market watchers to anticipate a shift from oversupply to balance in the coming months.

After starting the year at lows unseen since 2016 (US$21,502 per metric ton), cobalt began to rebound in Q2.

Prices for the metal then flatlined in the US$33,300 to US$37,000 range from the end of March through September, but a sharp rally in late October sent values to US$47,110, a level last reached in January 2023.

Cobalt price, October 25, 2024, to October 23, 2025.

Chart via Trading Economics.

Much of the cobalt story this year has been dominated by the February export suspension out of the DRC, which supplies roughly three-quarters of the world’s cobalt. The initial curtailment was expected to last four months in an effort to rein in oversupply and stem a price plunge below US$10 per pound, the lowest point in over 20 years.

The supply glut has been attributed to a surge in output driven largely by China’s CMOC Group (OTC Pink:CMCLF, SHA:603993), which has rapidly expanded production at two major DRC mines.

Cobalt supply expected to swing from surplus to balance

Cobalt supply has surged over the past five years, with global mine production more than doubling from 140,000 metric tons in 2020 to 290,000 metric tons in 2024. The bulk of this growth has come out of DRC, with annual output rising from 175,000 metric tons in 2023 to 220,000 metric tons in 2024. This rapid growth has far outpaced demand from the electric vehicle (EV) sector and other end-use industries, resulting in significant market oversupply.

In June, the DRC extended its export halt through September, a move that supported higher price levels.

“Trade statistics for cobalt hydroxide imports into China in June showed the first drop in material following the export ban enforcement in late February,” wrote Fastmarkets’ Rob Searle in a June market update.

“With a typical lead time of around three months, we expected June to be the first month of lower volumes. Cobalt hydroxide imports fell 62 percent in June and are expected to remain at low levels through to the end of December or early 2026. Should the export ban end as planned on September 22, the end of the year is the earliest we can expect to see new feed into the Chinese market from the DRC,’ the battery metals expert continued.

As the deadline for the export halt extension drew near, prices began to climb amid rumors that officials in Kinshashe would implement quotas to continue curbing the market saturation.

After eight months of restricted trade, the Authority for the Regulation and Control of Strategic Mineral Substances’ Markets (ARECOMS), announced it was enacting a quota system aimed at stabilizing global supply and prices.

The output cap will permit the export of 18,125 metric tons of DRC cobalt for the remainder of 2025.

“In 2026, the annual quota is set at 96,600t, of which 87,000t will be distributed to producers on a pro rata basis, with 9,600t retained under ARECOMS’ discretionary control,” a September Benchmark Mineral Intelligence report notes. “The framework will run through 2027, with adjustments possible if officials deem the market ‘imbalanced.”

The restrictions lifted cobalt prices to a 32 month high of US$48,570 on October 23.

Strong cobalt demand projected for next two years

Although the cobalt market remains oversupplied, demand has steadily increased alongside ballooning output, reaching record levels of more than 200,000 metric tons in 2024.

“The primary growth driver of this (growth) is the electric vehicle market, combined with portables, which is the second biggest battery market,” explained Benchmark’s William Talbot during a July Cobalt Institute webinar.

The alloy and military applications segment also experienced growth.

Talbot went on to note that despite reports that EV demand is waning in some regions, broad demand remains robust, and EVs that utilize cobalt battery chemistries “are still growing at pace.”

“If we look at the EV picture year-to-date in 2025, we’ve had more than 30 percent growth compared to the same period last year in unit terms,” he explained.

Cobalt price growth to continue into 2026

The cobalt market is entering a phase of continued volatility and structural change, shaped by shifting supply sources, evolving policy frameworks and growing geopolitical tension, as per Benchmark’s Talbot and the Cobalt Institute.

Looking ahead, Benchmark expects Indonesia to overtake the DRC as the key source of new supply by the late 2020s, as projects such as Kalimantan Ferro Nickel ramp up and few new developments emerge in the DRC.

On the demand side, Talbot said the outlook remains “fairly robust,” with EV growth driving consumption, despite some policy headwinds in the US. He pointed to China’s planned ban on lithium iron phosphate (LFP) battery technology, which he said “is supportive of cobalt-containing chemistries” such as nickel cobalt manganese (NCM).

Rising geopolitical tensions are also reshaping the cobalt supply chain.

“Major players are increasingly cognizant of where their materials come from,” Talbot said, citing new US and European investment in strategic and ESG-compliant cobalt projects.

Talbot added that the cobalt value chain has made “leaps and bounds” in sustainability, with roughly 80 percent of refined cobalt now assessed under the Responsible Minerals Initiative — a key factor for automakers and original equipment manufacturers under tightening compliance requirements.

While Benchmark remains cautious with projections, analysts at Project Blue say cobalt prices could rebound sharply in 2026 and 2027 as the DRC enforces its new export cap of 96,600 metric tons per year.

“Such constraints could lift cobalt prices toward historical real levels of over US$20 per pound,” reads a Project Blue report, noting that the quota “came in lower than many expected,” but aligns with its call for a rebalanced market.

According to Project Blue, at least 100,000 metric tons of exports would be needed next year to maintain equilibrium. Accounting for shipping delays and processing losses, only 85,000 to 90,000 metric tons are expected to reach end users — creating a structural deficit that should continue to support prices. The quota framework could also spur domestic refining as export restrictions make long-term storage of cobalt hydroxide costly.

Industry observers warn that producers — especially copper-cobalt miners such as CMOC — may need to adopt financial hedging and adjust production plans to navigate the added bureaucracy and potential export delays.

Similarly, Fastmarkets expects the DRC’s new rules to support cobalt prices, which have already soared more than 240 percent since February, Alexander Cook wrote in an LME Week recap. Fastmarkets assessed cobalt hydroxide prices at US$19.50 to US$20.20 on October 14, up from just US$5.65 in February.

The restrictions have sharply curtailed available volumes — much of which are already locked into long-term contracts — leaving the spot market increasingly constrained, wrote Cook.

Market participants expect further gains, though analysts caution that such elevated prices could push some battery makers to accelerate the shift toward cobalt-free chemistries such as LFP.

While the quota system has bolstered prices in the short term, the long-term outlook remains uncertain.

Analysts note that cobalt’s fate is increasingly tied to copper market dynamics and the pace of EV demand recovery, with downstream buyers and automakers reassessing cobalt’s role in next-generation batteries.

Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

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