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Partnerships

WGS

GeneDx (NASDAQ:WGS) announced new data supporting exome sequencing over multi-gene panels for epilepsy diagnosis, to be presented at the AES annual meeting. The study of 22,500 individuals showed a 25% diagnosis rate with exome sequencing, higher than the 19% with multi-gene panels. 78% of those diagnosed had prior testing, indicating exome sequencing's superior diagnostic ability. Over half of seizure-related genes are not on many epilepsy panels. 11% of positive diagnoses from exome sequencing involved treatment-related genes. GeneDx will also present data on better insurance coverage for exome sequencing. The NSGC and AES recommend exome sequencing as a first-tier test for unexplained epilepsy. GeneDx will host a symposium at the conference discussing the benefits of exome sequencing for epilepsy patients.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

INTC

LMT

MSFT

NVDA

Lockheed Martin (NYSE:LMT) has secured over $500 million in U.S. government army contracts in November, including a recent $199.15 million contract for industrial engineering services. The company's revenue heavily relies on U.S. defense spending, which is expected to increase annually until 2033. Lockheed Martin's partnerships with Nvidia (NASDAQ:NVDA), Microsoft (NASDAQ:MSFT), and Intel (NASDAQ:INTC) focus on advancing defense digitization through AI, cloud technologies, and 5G. While Lockheed Martin's stock trades at $447.77, above the analyst consensus target of $438.04, the company's strong contract acquisition and strategic partnerships may influence its stock performance.

Portfolio Pulse from Surbhi Jain

December 01, 2023 | 1:25 pm

LGND

Palvella Therapeutics and Ligand Pharmaceuticals (NASDAQ:LGND) have expanded their strategic partnership to accelerate Phase 3 development of QTORIN rapamycin for Microcystic Lymphatic Malformations (Microcystic LMs). Palvella received a $5 million upfront payment from Ligand, which also increased its tiered royalty on worldwide sales of QTORIN rapamycin to 8.0–9.8%. Ligand has an option to acquire a single-digit royalty on future topical products from Palvella's QTORIN platform. QTORIN rapamycin has potential to be the first FDA-approved therapy for Microcystic LMs, with over 30,000 diagnosed patients in the U.S. The FDA granted Breakthrough Therapy Designation to the drug in November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:23 pm

AAPL

GOOG

GOOGL

MSFT

Microsoft Corp. (MSFT) is planning to launch its own Xbox mobile gaming store to compete with Apple (AAPL) and Google (GOOG, GOOGL). The move follows the completion of the $69 billion Activision Blizzard acquisition. Microsoft Gaming CEO Phil Spencer is in talks with partners to launch the store, potentially in 2024, to offer more choices for game monetization on mobile devices. The European Union's Digital Markets Act, which scrutinizes app store practices and may force Apple to allow sideloading apps, could provide an opportunity for Microsoft's mobile gaming ambitions.

Portfolio Pulse from Rounak Jain

December 01, 2023 | 12:39 pm

HUBC

HUB Cyber Security Ltd (HUBC) has expanded its collaboration with Blackswan Technologies to provide Confidential Computing cybersecurity solutions to the financial sector. A recent agreement with a major European financial institution could result in HUB's revenue exceeding $25 million within 18 months. The deal includes a 3-year term with a potential 24-month extension. HUB's Chief Strategy Officer, Noah Hershcovitz, sees this as a step towards expanding their clientele and geographical reach.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:37 pm

NLSP

NLS Pharmaceutics has entered into an exclusive option agreement with Aexon Labs to develop and commercialize a next-generation dual orexin agonist platform. NLS Pharmaceutics must exercise this option by March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:33 pm

BAM

Brookfield Asset Management has launched an Emerging Markets Transition Fund with an anchor commitment from ALTÉRRA. This fund, alongside an investment in the Brookfield Global Transition Fund, aims to deploy over $20 billion towards climate initiatives.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:03 pm

AAPL

PARA

Apple and Paramount have engaged in preliminary discussions about bundling their streaming services, according to sources cited by the Wall Street Journal. The talks are still in the early stages and no further details have been provided.

Portfolio Pulse from Charles Gross

December 01, 2023 | 12:01 pm

FXI

SPY

VGK

China's Cabinet is reportedly studying measures to accelerate the integration of domestic and foreign trade, according to state media as cited by Reuters. This move could have implications for trade policies and economic relations.

Portfolio Pulse from Charles Gross

December 01, 2023 | 11:22 am

NSIT

Insight Enterprises, a global provider of Insight Intelligent Technology Solutions, has acquired SADA, a six-time Google Cloud Partner of the Year. This acquisition brings 850 professionals dedicated to the Google Cloud ecosystem into Insight's fold, expanding its team to over 14,500 members across 26 countries.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 11:08 am