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Assets

AVIV

GSIB

HSBC

HSBC Holdings plc (NYSE:HSBC) announced the launch of a $150 million Venture Debt offering and a $1 billion ASEAN Growth Fund in Singapore, aimed at scaling high-growth companies and digital platform businesses. The offerings are designed to provide flexible financing solutions for various funding requirements and complement HSBC's existing $200 million New Economy Fund. Additionally, HSBC plans to hire about 50 more bankers in the U.S. to lend to startups, mainly in technology and healthcare. Investors can gain exposure to HSBC through Themes Global Systemically Important Banks ETF (NASDAQ:GSIB) and Avantis International Large Cap Value ETF (NYSE:AVIV). HSBC shares are down 1.34% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 11:47 am

NVS

PYXS

Pyxis Oncology has finalized the sale of its royalty rights for Beovu (Brolucizumab-dbll) and another asset to Novartis for $8 million. This transaction provides Pyxis with immediate capital, potentially impacting its financial flexibility and future revenue streams.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:39 am

EVAX

Evaxion Biotech reported a cash and cash equivalents balance of $5.6M for 2023 and successfully raised an additional $12.7M in capital. This financial boost is expected to extend the company's cash runway into April 2025, providing stability and supporting its ongoing projects and research endeavors.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:36 am

ENVX

Enovix has been granted a 15-year Pioneer Status by the Malaysian Investment Development Authority for its high-volume manufacturing facility, which is expected to significantly boost its production capabilities.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:32 am

DIA

GLD

QQQ

SPY

USO

On March 26th, U.S. markets closed lower, with the Dow, S&P 500, and Nasdaq all experiencing losses. Economic data showed a rise in U.S. durable goods orders and home prices. Asian markets were mixed, with gains in Japan, Australia, and India, but losses in China and Hong Kong. European markets saw slight gains, except for the U.K.'s FTSE 100. Commodities saw crude oil and natural gas prices drop, while gold and silver prices increased. U.S. futures indicated a positive opening for the next trading session.

Portfolio Pulse from Akanksha Bakshi

March 27, 2024 | 11:22 am

AURA

Aura Biosciences announced that its cash and cash equivalents, along with marketable securities totaling $226.2 million, are expected to provide the company with a cash runway into the second half of 2026. This financial stability is crucial for the company's operations and future projects.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:15 am

GMDA

Gamida Cell reported a net loss per share of $(0.57) for the fiscal year 2023. As of December 31, 2023, the company holds cash and equivalents worth $46.6 million.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 11:08 am

DTIL

Precision Biosciences reported a 2023 cash and cash equivalents total of $116.7M. The company also received $50M from TG Therapeutics and Caribou, along with a $40M capital raise. These funds are expected to extend the company's cash runway into the second half of 2026.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 10:59 am

CLRB

Cellectar Biosciences announced that its cash and cash equivalents of $9.6M, along with $22.9M generated from exercised warrants in 2023, are expected to extend its cash runway into Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 10:52 am

CRAK

IEO

PSX

Phillips 66 (NYSE:PSX) is considering selling its 25% stake in the Rockies Express Pipeline, valued over $1 billion, including debt. The company aims for a premium over the stake's book value of $451 million, with over $500 million in debt obligations. The pipeline spans 1,700 miles from Wyoming and Colorado to Eastern Ohio. Phillips 66 is in discussions with potential buyers, including private equity and infrastructure funds, without rushing the divestment process. Elliott Investment Management, a significant investor, has previously advised Phillips 66 on improving performance and shareholder value. PSX shares dropped 1.02% in premarket trading.

Portfolio Pulse from Lekha Gupta

March 27, 2024 | 10:28 am