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CING

NVS

Cingulate Inc (CING) saw its stock trading higher after receiving FDA guidance for its ADHD drug candidate CTx-1301. The company plans to submit an NDA in 1H 2025 using Novartis AG's (NVS) Focalin XR as a reference. Cingulate has stopped enrollment in two Phase 3 studies and will update its Pediatric Study Plan. It requires $17M-$21M to file the NDA, less than expected. Cingulate is also planning to initiate clinical plans for CTx-1302 and may develop CTx-2103 for anxiety, pending additional capital. The company is addressing Nasdaq compliance issues due to board member resignations and will present a plan at a hearing in February 2024. CING shares surged 174.2% to $10.94.

Portfolio Pulse from Vandana Singh

December 28, 2023 | 2:50 pm

LOPE

The FTC has sued Grand Canyon Education, Inc. (LOPE) and Grand Canyon University for deceptive marketing practices regarding their doctoral programs. The lawsuit alleges that the institutions misrepresented the cost and course requirements, falsely marketed themselves as a nonprofit, and made abusive telemarketing calls. The FTC's complaint highlights that less than 2% of GCU doctoral graduates completed their program at the advertised cost, with most requiring additional costly continuation courses.

Portfolio Pulse from Nabaparna Bhattacharya

December 28, 2023 | 2:29 pm

BITQ

BTBT

CIFR

COIN

MSTR

PLTR

TSLA

Bitcoin SV surged 51%, outperforming Bitcoin and Ethereum. Microstrategy's increased Bitcoin holdings prompted Canaccord Genuity to raise its price target. Ark Invest bought ProShares Bitcoin ETF shares and sold Coinbase, Block, and Palantir shares. In other markets, Bit Digital and Cipher Mining stocks moved higher. US politics and economy saw developments, including corporate default warnings from Fitch and a recession forecast by Peter Schiff. Tech giants like Google, Apple, and Microsoft made headlines with AI and security updates. In the EV sector, Tesla and Xiaomi made news, while Ford recalled F-Series cars. Credit Suisse was fined by Singapore, and New Fortress Energy secured a significant contract in Brazil.

Portfolio Pulse from Akanksha Bakshi

December 28, 2023 | 2:10 pm

NEO

NeoGenomics shares are trading lower due to a preliminary injunction granted to Natera in a patent infringement lawsuit against NeoGenomics' RaDar test.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:02 pm

BABA

FXI

Alibaba Group Holding Limited (NYSE:BABA) stock is trading in line with the broader index IShares China Large-Cap ETF (NYSE:FXI) following reports of China's central bank's commitment to support the economy. However, a U.S. judge has denied Alibaba's request to dismiss a lawsuit over the sale of counterfeit Squishmallows on its platforms. Alibaba's stock has underperformed year-to-date compared to FXI, with a 17.3% loss versus FXI's 21% loss. BABA shares saw a premarket increase of 1.62%.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 1:50 pm

REGN

VTRS

Regeneron Pharmaceuticals Inc won a legal battle against Viatris Inc, with the court upholding the patent for Regeneron's eye drug Eylea. The U.S. District Court for the Northern District of West Virginia ruled that Viatris's replica violated Regeneron's patent rights, although some claims were invalidated. The lawsuit, initiated by Regeneron in August 2022, was narrowed down to three patents. Despite the win, Regeneron's shares dropped 2.84% in premarket trading, while Viatris's shares saw a minor decline of 0.19%.

Portfolio Pulse from Vandana Singh

December 28, 2023 | 1:47 pm

NEO

NTRA

NeoGenomics Laboratories, a subsidiary of NeoGenomics, Inc., plans to appeal a preliminary injunction from the U.S. District Court for the Middle District of North Carolina. The injunction is based on an initial determination that products using Radar technology may infringe on a patent held by Natera, Inc. However, the court's order permits ongoing patient use, research projects, studies, and clinical trials involving Radar to continue.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:13 pm

HLIT

Activist investor Ancora is reportedly seeking to challenge the board of Harmonic, a move that could lead to significant changes in the company's governance and strategic direction.

Portfolio Pulse from Charles Gross

December 28, 2023 | 1:09 pm

VET

Behjat Haghshenas, a former Senior Reservoir Specialist at Vermilion Energy Inc (NYSE:VET), admitted to illegal insider trading and agreed to pay a C$400,000 fine and accept a 10-year trading ban. Haghshenas profited C$146,400 from selling Leucrotta shares immediately after the public announcement of Vermilion's acquisition discussions with Leucrotta. This settlement is the largest in about a decade. Vermilion recently projected 2024 production of 82,000 – 86,000 boe/d. VET shares rose 3.05% in premarket trading.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 12:41 pm

REAX

The Real Brokerage Inc. has been named as a defendant in a putative class action lawsuit filed in the United States District Court for the Western District of Missouri. The nature of the lawsuit and the specific allegations have not been detailed in the news provided.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 12:38 pm