Streetbeat News

Partnerships

EDU

JD

PDD

East Buy Holding Ltd., a livestreaming e-commerce subsidiary of New Oriental Education (NYSE:EDU), fired its CEO Sun Dongxu after a dispute with top influencer Dong Yuhui. The company's shares rallied 21.9% following the CEO's removal. East Buy has seen rapid growth since shifting from online tutoring to e-commerce, with a high P/E ratio close to that of PDD Holdings (NASDAQ:PDD). The incident highlights the risks of relying on key influencers in the livestreaming e-commerce industry. Other companies like JD.com (NASDAQ:JD) are exploring virtual hosts to mitigate these risks.

Portfolio Pulse from The Bamboo Works

January 05, 2024 | 3:35 pm

CVAC

GSK

CureVac N.V. (NASDAQ:CVAC) shares are rising after the company announced positive interim data from a Phase 2 study of its COVID-19 vaccine candidates developed with GSK Plc (NYSE:GSK). The study showed meaningful immune responses and favorable reactogenicity profiles at all tested doses. The vaccines use CureVac's second-generation mRNA technology and are part of a joint development program with GSK, which also includes a flu vaccine program.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 3:31 pm

LUCY

Innovative Eyewear has entered into a license agreement and reached a settlement regarding several IngenioSpec smart eyewear patents. This agreement resolves previous disputes and grants Innovative Eyewear access to important smart eyewear technology.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 3:06 pm

NTRB

Nutriband Inc. has signed a commercial development and clinical supply agreement with Kindeva Drug Delivery for Aversa Fentanyl, an abuse-deterrent fentanyl patch. This agreement will enable Kindeva to develop the manufacturing process and produce clinical supplies for FDA-required studies. Aversa Fentanyl, which combines Nutriband's proprietary technology with Kindeva's FDA-approved patch system, has a potential market of $80M - $200M in annual US sales. The technology aims to improve safety while ensuring access for patients in need.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:21 pm

ILMN

JNJ

Illumina is expanding its collaboration with Janssen Research & Development, a division of Johnson & Johnson, to advance the development of its Whole Genome Sequencing (WGS) Molecular Residual Disease (MRD) assay. This collaboration aims to enhance the utility of Illumina's WGS MRD test in cancer treatment by working with leading pharmaceutical companies.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 2:16 pm

BABA

BIDU

Baidu, Inc's founder Robin Li has called for a shift from developing large language models to creating applications for existing models like Baidu's 'Ernie'. Despite this, competition in China's AI sector is increasing, with many homegrown models emerging. Baidu has faced challenges such as high executive turnover and internal conflicts, partly attributed to the joint presence of Li and his wife Melissa Ma. Baidu's focus on AI and large language models, including Ernie, is seen as crucial for its future amidst a crowded market and regulatory challenges. Alibaba Group Holding Limited's CEO also highlighted a shift towards AI, aiming to become an 'open technology platform'. Baidu's shares saw a slight decrease in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 05, 2024 | 1:54 pm

HSAI

Hesai Technology (NASDAQ:HSAI), a leader in lidar technology, has been chosen by a top global automotive OEM to supply ADAS lidars for new flagship electric vehicle models. The EVs will feature Hesai's AT128 long-range lidar as part of their ADAS systems. Hesai's CEO, David Li, highlighted the importance of lidar in advanced driving systems and its role in reducing traffic accidents. Hesai has already secured over 50 ADAS series production EV models from 15 major OEMs and Tier-1 suppliers. More details on this partnership are expected in the future.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:32 pm

NEGG

Newegg Commerce is set to exhibit at the 2024 Consumer Electronics Show (CES), where it will engage with technology manufacturers, participate in a TikTok Shop livestreaming event, and interact with numerous social media influencers. This presence at CES underscores Newegg's commitment to its tech e-commerce platform and its efforts to strengthen relationships with partners and increase brand visibility.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:26 pm

CATX

Perspective Therapeutics has entered into a patent license agreement with Mayo Clinic for the PSMA Alpha-PET DoubLET platform technology, which is used for imaging and targeted therapy in PSMA-expressing cancers, primarily prostate cancer. The technology involves a double chelator design using isotopes 64/67Cu and 203/212Pb for radiopharmaceutical therapy (RPT).

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:18 pm

DZSI

DZS (NASDAQ:DZSI) has announced securing $25 million in funding and the divestiture of its Asia business to DASAN Networks Inc. (DNI) for $48 million. The deal includes $5 million in cash and the elimination of about $43 million of debt. The divestiture will allow DZS to focus on the Americas, EMEA, and ANZ regions, aligning with its strategic investments in technology and acquisitions. The additional working capital is expected to support DZS's growth, with government stimulus funds deployment beginning in 2024. The company anticipates improved gross margins by the end of 2024 and is hosting a conference call on January 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:17 pm