Keep pulling the thread on Bloomberg Intelligence.
Artificial intelligence chip maker Cerebra Systems has upsized its initial public offering and is now seeking to raise nearly $5 billion.
The IPO price range for Cerebra Systems has been increased from an initial $115-$125 to a new range of $150-$160 per share.
There are reports that President Donald Trump will soon replace FDA Commissioner Marty McCary.
Cerebra Systems had previously applied for an IPO a few months ago but subsequently withdrew that listing.
The IPO for Cerebra Systems is expected to price later this week.
The Cerebra Systems IPO is being led by Morgan Stanley, Citigroup, Barclays, and UBS.
The FDA has experienced significant flux since Robert Kennedy Jr. was appointed to lead the Department of Health and Human Services (HHS).
Under Commissioner Marty McCary, the FDA has made deals with AstraZeneca and Amgen to reduce drug development timelines.
FDA Commissioner Marty McCary has advocated for making animal testing less required in the drug development process.