Market-Moving News for July 11th
Portfolio Pulse from Benzinga Newsdesk
Cingulate Therapeutics (CING) announced positive results from Phase 3 trial of CTx-1301 for ADHD, causing its stock to surge by 81.5%. Dragonfly Energy (DFLI) partnered with the world's largest teardrop manufacturer to provide full lithium power systems, leading to a 45.8% increase in its stock. Better Therapeutics (BTTX) saw a 24.5% rise in its shares after the FDA approved its AspyreRx prescription-only digital therapeutic treatment for type 2 diabetes.
July 11, 2023 | 12:38 pm
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POSITIVE IMPACT
Better Therapeutics' shares rose by 24.5% after the FDA approved its AspyreRx prescription-only digital therapeutic treatment for type 2 diabetes.
FDA approval of a company's product often leads to a rise in its stock as it indicates potential future revenue from the approved product. In this case, the FDA's approval of Better Therapeutics' AspyreRx treatment led to a significant increase in its stock.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 100
POSITIVE IMPACT
Cingulate Therapeutics' stock surged by 81.5% following positive results from its Phase 3 trial of CTx-1301 for ADHD.
Positive clinical trial results often lead to a surge in a company's stock as it indicates potential future revenue from the product under trial. In this case, the positive results from Cingulate's Phase 3 trial of CTx-1301 for ADHD led to a significant increase in its stock.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Dragonfly Energy's stock rose by 45.8% after it announced a partnership with the world's largest teardrop manufacturer to provide full lithium power systems.
Partnerships with major companies often lead to a rise in a company's stock as it indicates potential future revenue and growth. In this case, Dragonfly Energy's partnership with the world's largest teardrop manufacturer led to a significant increase in its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100