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CING

Cingulate has initiated the final study for its lead ADHD treatment, CTx-1301, and has raised over $10 million in additional capital since mid-August.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 12:33 pm

SOLUSD

Pump.fun, a Solana meme coin platform, sold $1.3M worth of SOL, raising questions among traders. Despite this, traders see potential for Solana's price to rise if it surpasses $136. Solana's total value locked has increased significantly this year, and a major wallet associated with FTX/Alameda redeemed a large amount of SOL from staking.

Portfolio Pulse from Khyathi Dalal

September 12, 2024 | 12:26 pm

MCFT

MasterCraft Boat Holdings, Inc. has agreed to sell its Merritt Island boat manufacturing plant, with the transaction expected to close in Q2. Financial terms were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 12:07 pm

F

Ford Motor Company announced the retirement of Ted Cannis, CEO of Ford Pro and Ford Customer Service Division, effective at the end of the month. Andrew Frick will temporarily lead Ford Pro, while Daniel Justo is appointed VP of Ford Customer Service Division.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 12:06 pm

DRUG

Bright Minds Biosciences is set to begin a Phase 2 clinical trial for BMB-101, targeting drug-resistant epilepsy disorders. The company has secured financial stability until 2026 and will host a webcast on September 25th.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 12:06 pm

MODV

ModivCare has announced a $200 million mixed securities shelf offering, which allows the company to issue various types of securities over time. This move provides ModivCare with financial flexibility to raise capital as needed.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 11:56 am

SMMT

Summit Therapeutics shares rose following the announcement of raising $235 million in net proceeds.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 11:34 am

ORKA

Oruka Therapeutics has announced a PIPE financing deal, raising approximately $200 million. The company is offering 5.6 million shares at $23 each, 2,439 Series A non-voting convertible preferred stock at $23,000 each, and pre-funded warrants for 680,000 shares at $22.999 each.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 11:09 am

GEVO

Gevo, Inc. is acquiring Red Trail Energy's ethanol production and carbon capture assets for $210 million. This acquisition is expected to make Gevo's Adjusted EBITDA positive by 2025 and aligns with its strategy to produce net-zero fuels. The deal enhances Gevo's capabilities in carbon abatement and sustainable aviation fuel production.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 11:00 am

MRNA

Moderna's stock is experiencing a decline following the company's announcement to reduce its R&D expenses by $1.1 billion by 2027.

Portfolio Pulse from Benzinga Newsdesk

September 12, 2024 | 10:22 am