Streetbeat News

Equity Actions

WAVE

Eco Wave Power Global AB has announced plans to repurchase up to 10% of its total number of shares. The move is seen as a way to return value to shareholders and potentially boost the company's stock price.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:18 pm

EVLO

Evelo Biosciences, Inc. (NASDAQ:EVLO) has announced a 1-for-20 reverse stock split of its common stock, effective from June 29, 2023. The primary goal of the reverse stock split is to increase the per share market price of the company's common stock to meet the minimum per share bid price requirement for continued listing on The Nasdaq Global Select Market. The company's common stock is expected to commence trading on a split-adjusted basis on June 30, 2023.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 1:07 pm

IMNM

Immunome and Morphimmune have announced a definitive merger agreement, with a simultaneous private placement investment of $125M to develop targeted cancer therapies. The merged company will operate as Immunome and is expected to submit three investigational new drug applications within 18 months of closing. Clay B. Siegall, current Morphimmune President & CEO and former co-founder & CEO of Seagen, Inc., will serve as Chairman and CEO of the combined company.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:03 pm

TRSSF

TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER) will start trading on the Toronto Stock Exchange under the new ticker symbol 'TSND' on July 4, 2023. The company has made significant financial improvements over the past year, including reducing expenses, transforming the balance sheet, lowering interest expense, and becoming cash flow positive. The TSX listing is expected to provide greater access to a broader group of investors. The company's common shares will be delisted from the Canadian Securities Exchange on June 30, 2023.

Portfolio Pulse from Vuk Zdinjak

June 29, 2023 | 12:59 pm

SCHW

The Charles Schwab Corporation has scheduled a Summer Business Update for institutional investors on July 18th. The update will be held via a live public webcast and will include participation from Walt Bettinger, Co-Chairman and CEO, Rick Wurster, President, and Peter Crawford, CFO.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:46 pm

AQST

Aquestive Therapeutics (NASDAQ:AQST) has submitted a New Drug Application (NDA) to the FDA for approval of Libervant, a treatment for seizure clusters in patients aged 2-5 years. The company received tentative approval for Libervant for patients aged 12 and older in August 2022, but is currently under an orphan drug block until January 2027. Aquestive also announced the appointment of Carl N. Kraus, M.D. as Chief Medical Officer.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:44 pm

JOBY

SKM

Joby Aviation, Inc. (NYSE:JOBY) has received an investment of $100 million from South Korea's SK Telecom Co., Ltd. (NYSE:SKM). This investment allows Joby to participate in Korea's 'K-UAM Grand Challenge' to promote aerial ridesharing in Korea. The investment is part of an expanded partnership between the two companies, with Joby agreeing to sell and issue 15.03 million shares to SK Telecom at $6.65 per share on June 27, 2023.

Portfolio Pulse from Nabaparna Bhattacharya

June 29, 2023 | 12:42 pm

SPCB

SuperCom (NASDAQ: SPCB), a global provider of secure solutions for the e-Government, IoT, and Cybersecurity sectors, has announced the integration of advanced AI capabilities into its PureSecurity electronic monitoring platform. The new AI features will enhance efficiency and effectiveness through real-time data insights and improved decision-making processes. The AI capabilities include automation for daily monitoring activities, advanced data analysis, and predictive monitoring.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:32 pm

GGR

INDA

The Indian State of Maharashtra and Gogoro Inc. (NASDAQ:GGR) have announced a partnership on an 'Ultra Mega Project' to manufacture and deploy smart battery infrastructure. The project, which would exceed $1.5 billion over eight years, includes more than $500 million investment in manufacturing and $1 billion in smart battery infrastructure deployment. The project is expected to generate approximately 10,000 direct and indirect jobs and is one of the largest EV investments in India's history.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:31 pm

BB

CRMD

IMBI

KTRA

NOVN

WAVE

Several stocks experienced significant pre-market movements. Notable gainers include Eco Wave Power Global AB (WAVE), Kintara Therapeutics (KTRA), and BlackBerry Limited (BB), while CorMedix Inc. (CRMD), iMedia Brands (IMBI), and Novan Inc. (NOVN) were among the losers. Factors influencing these movements include recent earnings reports, grant awards, and public offerings.

Portfolio Pulse from Lisa Levin

June 29, 2023 | 12:18 pm