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Earnings

FDMT

4D Molecular Therapeutics (4DMT) reported clinical pipeline progress, upcoming milestones, and organizational updates. The company remains well-capitalized with $300M in estimated cash, sufficient to fund operations into H1 2026. Key clinical advancements include progress in wet AMD, DME, and CF programs, with Phase 2 trial data for 4D-150 in wet AMD and DME expected in 2024. The company also announced a partnership with Arbor Biotechnologies for CNS diseases and appointed Noriyuki Kasahara as Chief Scientific Officer. Upcoming milestones include data presentations, trial updates, and IND filings across its ophthalmology, pulmonology, cardiology, and rare inherited retinal disorders portfolios.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:20 pm

STZ

Constellation Brands, Inc. (STZ) is set to release its Q3 earnings report on Jan. 5, 2024, with expected earnings of $3.00 per share on revenue of $2.55 billion. JPMorgan analyst Andrea Teixeira maintains an Overweight rating on STZ but lowered the price target from $309 to $301. The article also discusses how to earn monthly income from STZ's dividends, which currently yield 1.47%, and provides examples of the number of shares needed to achieve certain income goals. STZ shares fell 1% to close at $241.42 on Wednesday.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:20 pm

ASMB

GILD

Assembly Biosciences outlined its clinical pipeline milestones for 2024, with four candidates expected in the clinic by year-end, targeting herpesviruses and hepatitis B and D. Initial data from studies on ABI-5366 for genital herpes and ABI-4334 for hepatitis B are due by year-end. The company's antiviral portfolio progress is bolstered by a long-term partnership with Gilead Sciences.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:16 pm

CTMX

CytomX Therapeutics, Inc. (NASDAQ:CTMX) announced its 2024 priorities, including anticipated milestones for its pipeline. Key programs like CX-904, CX-2051, and CX-801 are expected to reach clinical proof of concept. CX-904, partnered with Amgen, will have Phase 1a data in H2 2024. IND applications for CX-2051 and CX-801 have been filed, with Phase 1 initiations expected in H1 2024. Bristol Myers Squibb is advancing BMS-986288 to Phase 2 studies. CytomX has partnerships with major companies and ended Q3 2023 with $194 million in cash, projecting a runway to H2 2025.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:16 pm

APPF

MANH

PRSO

SMX

The article highlights four oversold tech stocks with RSI values near or below 30, suggesting potential undervaluation. AppFolio, Inc. (APPF) reported strong Q3 results but saw a 14% stock decline over the past month. Manhattan Associates, Inc. (MANH) also posted better-than-expected Q3 results, with a 7% stock drop over five days. Peraso Inc. (PRSO) announced a 1-for-40 reverse stock split, leading to a 17% decline over five days. SMX (Security Matters) PLC announced a new plastic cycle token, with a 35% share loss over five days.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 1:11 pm

SPRB

Spruce Biosciences announced upcoming milestones for 2024, including topline results from clinical trials CAHmelia-203 and CAHptain-205 in March 2024, and CAHmelia-204 in Q3 2024. The company expects its cash runway to extend into the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:09 pm

AUID

authID (NASDAQ:AUID) reported strong Q4 sales with Booked Annual Recurring Revenue (bARR) of $1.7 million, a 64% increase from Q3. The company's biometric identity platform has attracted various customers, including an international digital wallet provider and a leading entertainment business software provider. CEO Rhon Daguro highlighted the company's ability to deliver value and the effectiveness of their go-to-market efforts. authID's platform offers fast, accurate identity verification and authentication, aiming to prevent fraud and account takeovers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:08 pm

PRTG

Portage Biotech Inc. (NASDAQ:PRTG) announced a strategic update, prioritizing its adenosine clinical candidates and pausing the iNKT clinical development to focus resources. The ADPORT-201 trial for PORT-6 and PORT-7 is progressing well, with plans to present data later this year. The company is also collaborating with Merck on KEYTRUDA combinations. Due to funding constraints, Portage is pausing the PORT-2 iNKT program and exploring strategic options, which may include partnerships. A cost-savings plan is being implemented, including workforce reductions.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:04 pm

PSTX

Poseida Therapeutics, Inc. (NASDAQ:PSTX) reported positive early clinical data for its allogeneic myeloma cell therapy P-BCMA-ALLO1 at ASH 2023, indicating potential to compete with autologous CAR-T. The company plans to update clinical data for P-BCMA-ALLO1 and P-MUC1C-ALLO1 in 2024 and expects to dose the first patient in the P-CD19CD20-ALLO1 trial early 2024. Poseida expanded its partnership with Roche, accelerating milestone achievements. The company also highlighted progress in its non-viral gene therapy portfolio, including P-FVIII-101 for Hemophilia A. Poseida's cash position is expected to fund operations into the second half of 2025, supported by business development and partnerships.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:03 pm

SCHN

Schnitzer Steel (NASDAQ: SCHN) reported Q1 adjusted EPS of $(0.64), surpassing the $(0.70) estimate, and sales of $672.90M, exceeding the $643.35M estimate. This represents a 45.45% decrease in EPS and a 12.39% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:02 pm