Streetbeat News

Partnerships

LTRY

Lottery.com Inc. has received an $18 million investment commitment from Prosperity Investment Management to accelerate strategic acquisitions and market development for Lottery.com and Sports.com brands. The investment will be funded through a vehicle provided by United Capital Investments Limited.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 6:01 pm

BMWYY

MBGAF

VWAGY

BMW aims to deliver over 500,000 EVs in 2024, indicating significant growth. Despite the end of a state-funded EV scheme in Germany, BMW's global plans remain unaffected. The company has also partnered with Mercedes-Benz Group China Ltd to manage a high-speed charging network in China and plans to expand its ChargeForward service in the U.S. Meanwhile, Volkswagen AG plans to stop selling combustion engine cars in Europe by 2035.

Portfolio Pulse from Shivani Kumaresan

December 21, 2023 | 5:29 pm

COIN

Coinbase Global, Inc (NASDAQ:COIN) stock is trading higher after receiving registration from France's AMF as a virtual asset service provider (VASP). This allows Coinbase to offer a range of digital currency services in France, aligning with the EU's upcoming Markets in Crypto Assets (MiCA) regulation. The expansion is seen as strategic amid a tougher U.S. regulatory environment, with the SEC targeting crypto companies. France's tech-forward stance under the 'France 2030' plan and growing crypto adoption make it an attractive market for Coinbase.

Portfolio Pulse from Anusuya Lahiri

December 21, 2023 | 5:23 pm

RDGL

The FDA has granted Breakthrough Device Designation to Vivos Inc.'s RadioGel for treating solid metastatic tumors, particularly in lymph nodes associated with papillary thyroid cancer. RadioGel is an injectable brachytherapy device using yttrium-90 for localized radiation treatment. Vivos Inc. plans to expedite its IDE submission for human clinical trials in collaboration with the Mayo Clinic.

Portfolio Pulse from Javier Hasse

December 21, 2023 | 4:58 pm

DMK

DMK Pharmaceuticals Corporation (NASDAQ:DMK) stock surged after the company announced it has regained full rights to commercialize Zimhi following the termination of its agreement with US WorldMeds, LLC. The company is actively seeking new commercialization opportunities for Zimhi in the U.S., Canada, and Europe. The stock experienced heavy trading volume, with over 27.4 million shares traded, far exceeding its 100-day average volume. DMK's CEO expressed enthusiasm for engaging with new partners to drive growth and maximize shareholder value. The stock price rose by 35% to 80 cents.

Portfolio Pulse from Erica Kollmann

December 21, 2023 | 4:54 pm

JNJ

MGTX

SNY

MeiraGTx Holdings plc (MGTX) announced an asset purchase agreement with Janssen Pharmaceuticals, a Johnson & Johnson (JNJ) company, for the gene therapy bota-vec for XLRP. MeiraGTx will receive $130 million in upfront and near-term milestone payments, with potential for an additional $285 million upon commercial sales and manufacturing technology transfer. J&J will handle any royalty or milestone payments to UCL Business plc. MeiraGTx also has a commercial supply agreement with J&J for bota-vec manufacturing. Previously, Sanofi SA (SNY) invested $30 million in MeiraGTx. The deals extend MeiraGTx's cash runway to mid-2026. MGTX shares surged 22.50% to $6.02.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 4:11 pm

GILD

HOOK

Gilead Sciences Inc (NASDAQ:GILD) has increased its stake in HOOKIPA Pharma Inc (NASDAQ:HOOK) by purchasing 15 million shares for approximately $21.25 million. This investment boosts Gilead's ownership to about 19.4% of HOOKIPA's outstanding shares. The deal also grants HOOKIPA the right to sell Gilead an additional $8.75 million in common stock in future equity raises. This agreement supersedes the one made in 2022. HOOKIPA is progressing with its HIV program, including the HB-500 vaccine, and Gilead has the option to take over development after Phase 1b trials. HOOKIPA's stock soared by 80.50%, while Gilead's shares saw a modest increase of 0.80%.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 4:02 pm

NTDOY

SONY

Sony Group Corporation has acquired a 9.87% stake in Japanese mobile game developer Akatsuki, aiming to expand its mobile gaming reach globally. Additionally, Koei Tecmo, affiliated with Nintendo ADR, has partnered with Akatsuki, acquiring 7.97% of its shares to develop next-gen live-ops games for the global market. This follows Sony's partnership with NCSoft and comes as Microsoft plans to launch its mobile gaming store after acquiring Activision Blizzard King.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 3:16 pm

WINA

Winmark Corporation, through its Music Go Round retail chain, has entered into a partnership with Roland Corporation and BOSS to become the official resale partner for both brands. This partnership emphasizes the commitment of all parties to sustainability in the U.S.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 3:04 pm

JOBY

Joby Aviation Inc (NYSE:JOBY) stock is trading higher after the company announced the completion of air traffic simulations with NASA's Ames Research Center. The simulations tested the integration of up to 120 eVTOL operations per hour into current airspace using existing air traffic control tools and procedures. The tests, observed by FAA and National Air Traffic Controllers Association representatives, are a step towards the commercialization of air taxis. At the time of publication, JOBY shares had risen by 4.57% to $6.87.

Portfolio Pulse from Adam Eckert

December 21, 2023 | 2:51 pm