Apr 11, 2019

SpaceX is raising another $500 million

SpaceX Falcon 9 rocket lifts off last month. Photo by Jim Watson/AFP/Getty Image

SpaceX is raising up to $510 million in new funding for the second time this year, according to a Delaware stock authorization filing uncovered by the Prime Unicorn Index. Such filings do not guarantee that the issuer will sell all, or any, of the authorized shares.

The bottom line: Shares would be sold at a 9.7% premium to the prior round, which valued Elon Musk's private space company at over $30 billion. To date, SpaceX has raised around $2.75 billion from equity investors.

Go deeper: SpaceX launches (and then lands) its powerful Falcon Heavy rocket

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International coronavirus treatment trial uses AI to speed results

Hydroxychloroquine is one of the drugs that will be included in the trial. Photo: John Philips/Getty Images

The first hospital network in the U.S. has joined an international clinical trial using artificial intelligence to help determine which treatments for patients with the novel coronavirus are most effective on an on-going basis.

Why it matters: In the midst of a pandemic, scientists face dueling needs: to find treatments quickly and to ensure they are safe and effective. By using this new type of adaptive platform, doctors hope to collect clinical data that will help more quickly determine what actually works.

Go deeperArrow11 mins ago - Health

We can't just flip the switch on the coronavirus

Illustration: Sarah Grillo/Axios

It feels like some big, terrible switch got flipped when the coronavirus upended our lives — so it’s natural to want to simply flip it back. But that is not how the return to normalcy will go.

The big picture: Even as the number of illnesses and deaths in the U.S. start to fall, and we start to think about leaving the house again, the way forward will likely be slow and uneven. This may feel like it all happened suddenly, but it won't end that way.

Go deeperArrow26 mins ago - Health

The Fed rescues Wall Street, but Main Street is another story

llustration: Aïda Amer/Axios

In less than a month, the Federal Reserve has unleashed a multi-trillion dollar tour de force to buoy the U.S. economy against the COVID-19 pandemic.

Why it matters: While it has steadied the markets, the Fed is poorly equipped to offset the hit being absorbed by small business owners and the close to 17 million Americans who have filed for unemployment in just the past three weeks.