Streetbeat News

Partnerships

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

RNAZ

Transcode Therapeutics (RNAZ) has published an open letter to shareholders, highlighting its progress in 2023 and objectives for 2024. The company has raised $18.5M in additional capital in 2023 despite a challenging environment. It has advanced its lead therapeutic candidate, TTX-MC138, and plans to submit an IND to the FDA in Q1 2024 for a Phase 1 clinical trial. Transcode is in partnership discussions for its preclinical programs and has streamlined operations, including reducing headcount and implementing temporary salary reductions for senior management. The company is proposing a reverse stock split to improve its ability to raise additional capital and comply with Nasdaq's stockholders' equity requirement.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:08 pm

VNRX

VolitionRx Limited (NYSE:VNRX), an epigenetics company, released its 2023 Business Review highlighting key achievements such as launching the Nu.Q® Vet Cancer Test in significant markets, expanding access to the test globally, advancing market access for Nu.Q® NETs, completing the Q-Sub process with the FDA, announcing a new early cancer detection method, strengthening its patent portfolio, and scaling up operations. The company aims to save lives with its blood tests for diseases in humans and animals.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:05 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

DARE

Daré Bioscience, Inc. (NASDAQ:DARE) announced the achievement of proof of concept for its DARE-LARC1 platform technology, which can deliver therapeutic doses over extended periods. The technology, developed at MIT, has been enhanced by Daré and shows promise in women's health, particularly in long-acting contraceptives, and could transform treatment for chronic conditions like diabetes and obesity. Daré plans to begin strategic discussions with pharmaceutical companies and is developing the technology with foundation grant funding.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:02 pm

RXRX

Recursion (NASDAQ:RXRX) has signed an agreement with Bayer AG to in-license a new chemical entity from their fibrosis research collaboration. This compound has shown potential to reverse fibrotic processes and is now part of Recursion's late discovery pipeline. The company's technology enabled the identification of small molecules that can potentially treat fibrotic diseases, which are a major health concern with high unmet needs.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:01 pm

NIO

China has issued guidelines to use New Energy Vehicles (NEVs) as mobile energy storage facilities to support the power grid by 2030. The National Development and Reform Commission (NDRC) is involved in this initiative. By 2025, China aims to establish a technical standard system for vehicle-grid interaction and implement a tariff mechanism for off-peak charging. Nio Inc. (NYSE:NIO) is exploring ways to make its battery swap stations function as virtual power plants in line with these guidelines. The move reflects China's commitment to the EV sector, which continues to grow despite economic challenges.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 12:46 pm

FSR

Fisker Inc. is developing a dealer partnership model in North America and plans to implement a hybrid of direct sales and dealer arrangements in Europe. This strategy aims to expand its sales network and customer reach as it scales up operations.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:40 pm

REKR

Rekor Systems announced the expansion of its collaboration with the Texas Department of Transportation. The renewal and expansion of their partnership is valued at $2.1 million over a five-year term. This deal is expected to enhance Rekor's transportation management division by providing a steady revenue stream and strengthening its relationship with government clients.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:37 pm