Market-Moving News for September 20th
Portfolio Pulse from ryanfaloona@benzinga.com
Exscientia announced a drug discovery collaboration with Merck KGaA, leading to a 36% increase in its stock. The FDA issued a complete response letter for ARS Pharma's neffy® Epinephrine Nasal Spray, causing a 66% drop in SPRY's stock. Pinterest's stock rose by 4.3% after announcing a $1 billion stock repurchase program and an upgrade from Citigroup.
September 20, 2023 | 12:34 pm
News sentiment analysis
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POSITIVE IMPACT
Exscientia's stock rose by 36% after announcing a drug discovery collaboration with Merck KGaA.
The collaboration with a reputable company like Merck KGaA is a positive development for Exscientia, leading to increased investor confidence and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Pinterest's stock rose by 4.3% after announcing a $1 billion stock repurchase program and an upgrade from Citigroup.
The stock repurchase program and the upgrade from Citigroup are positive developments for Pinterest, leading to increased investor confidence and a rise in stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
SPRY's stock dropped by 66% after the FDA issued a complete response letter for ARS Pharma's neffy® Epinephrine Nasal Spray.
The FDA's response letter, which likely requests additional data or changes, is a setback for ARS Pharma and SPRY, leading to a significant drop in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100