Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Friday, September 27th. I'm Julie Morgan. The FDA approves a new drug for a certain

psychiatric disorder. Direct TV and dish clothes in on a merger and UAV gets

out of DJT for the most part.

The FDA on Thursday approved Kobinfi developed by Bristol-Myers Squibb as a novel treatment

for adults with schizophrenia.

Bristol-Myers is up 6.3% in pre-market action.

The drug previously known as CarXT

was added to the pipeline following its 14 billion dollar acquisition of Corona therapeutics

earlier this year.

When Bristol-Myers Inc. the Buyout agreement last December, the anti-psychotic was under FDA review with a target action date of September 26, 2024.

Unlike dopamine receptor targeting schizophrenia therapies, which is the current standard of care.

Kobanfi is the first FDA approved antipsychotic targeted at

colonergic receptors.

Telecom operator AT&T and joint venture partner TPG Capital are closing in on the merger of their direct TV service with Echo Stars dish.

Bloomberg reported late Thursday citing people familiar with the matter that an agreement

could be announced in the coming days with discussions in the advanced stage.

The deal would create the largest pay TV provider in the US with almost 20 million subscribers.

The companies are still working through the details of the structure of the deal.

Earlier this month Bloomberg reported discussions were in the early stages.

The companies had also attempted a merger back in 2022,

but the U.S. Department of Justice blocked it over antitrust concerns.

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