Streetbeat News

Partnerships

IVA

Inventiva reported its financial results for Q3 2023, with cash and equivalents at €43.8M, short-term deposits at €0.03M, and long-term deposits at €5M as of September 30, 2023. Revenue for the first nine months was €1.9M, a significant increase from €0.1M in the same period in 2022. The company's cash runway is expected to extend to Q3 2024, subject to conditions of the EIB loan's second tranche. Inventiva's R&D expenses increased by 86% due to clinical trials for NASH treatment. The company also entered into a licensing agreement with Hepalys Pharma for lanifibranor in Japan and South Korea, receiving a $10M upfront payment and potential for $231M in milestones plus royalties.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:02 pm

BNBUSD

BTCUSD

ETHUSD

Changpeng Zhao (CZ), the CEO of Binance, announced his resignation from the CEO position, taking responsibility for past mistakes. He expressed confidence in Binance's future under the new CEO, Richard Teng, who has extensive financial services and regulatory experience. CZ plans to take a break and then focus on passive investing in blockchain, AI, and biotech startups, while also considering mentoring entrepreneurs. He highlighted that U.S. agency resolutions do not accuse Binance of misappropriating funds or market manipulation.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:40 pm

CBDD

CBD of Denver, Inc. (OTCPK: CBDD) partners with Channel 21 in Germany to sell its Magic Lappen via teleshopping. The company reports Q3 sales of $677,893, a significant increase from the previous year, and a reduced net loss from operations. CBDD's stock was down 5.56% at $0.0008 per share.

Portfolio Pulse from Joana Scopel

November 21, 2023 | 8:32 pm

ABNB

Wanda Dench and Jamal Hinton, known as 'Thanksgiving Grandma' and her honorary grandson, have partnered with Airbnb Inc (NASDAQ:ABNB) to host a Thanksgiving dinner, with proceeds going to Feeding America. The event includes an overnight stay at Dench's home and activities like taking selfies and playing board games. The booking is priced at $16, commemorating the start of their friendship in 2016. Their story of accidental connection has gained popularity on social media.

Portfolio Pulse from Bibhu Pattnaik

November 21, 2023 | 8:27 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Despite Altman's firing from OpenAI and ongoing negotiations, Microsoft is offering OpenAI employees similar compensation to join them. The situation is still uncertain, with the possibility of Altman returning to OpenAI.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:10 pm

MSFT

Microsoft is preparing for the potential arrival of OpenAI employees by readying office space and resources in LinkedIn's San Francisco offices. This follows the announcement that Sam Altman and Greg Brockman are joining Microsoft to lead a new AI research team. Microsoft was surprised by Altman's firing from OpenAI but is open to him returning if the board is reconstituted. The company is setting up workspaces and providing legal and HR support for onboarding, and promises similar compensation for OpenAI employees joining Microsoft.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:09 pm

SGD

Safe and Green Development Corporation (NASDAQ:SGD) stock rose after announcing a non-binding Letter of Intent to invest in Majestic World Holdings for access to the Xene software platform. The strategic partnership aims to leverage AI technology to create a decentralized real estate marketplace, potentially marking a significant growth phase for both companies.

Portfolio Pulse from Ryan Gustafson

November 21, 2023 | 7:49 pm

MSFT

OpenAI is facing internal turmoil with discussions about the return of ousted co-founder Sam Altman as CEO. Employees have threatened mass resignations, and Microsoft Corp (NASDAQ:MSFT) has hired Altman and Greg Brockman for a new AI research team. Microsoft's CEO Satya Nadella has expressed openness to hiring more OpenAI staff and hinted at potential changes in governance, including a possible board seat for Microsoft.

Portfolio Pulse from Neil Dennis

November 21, 2023 | 7:49 pm

AAPL

GOOG

GOOGL

NFLX

SPOT

Epic Games' lawsuit against Google reveals that Spotify has a special deal with Google to avoid most app store commission fees. Spotify pays 0% commission if using its own payment processor and 4% otherwise, compared to the typical 15% fee. This deal was disclosed during a trial where Epic Games is challenging Google's commission fees. Google's head of partnerships, Don Harrison, justified the deal due to Spotify's popularity and its importance to Android's success. The trial also uncovered that Google considered acquiring Epic Games to prevent competition. The outcome of the trial could impact Google's app store practices and address antitrust concerns.

Portfolio Pulse from Chris Katje

November 21, 2023 | 6:38 pm

CNTB

Connect Biopharma Holdings Limited (CNTB) reported positive Stage 2 trial results for rademikibart in treating moderate-to-severe atopic dermatitis, with high maintenance of efficacy at Week 52. The company also announced a partnership with Simcere Pharmaceutical for rademikibart's development and commercial rights in Greater China, including an upfront payment and potential milestones and royalties. Despite the positive news, CNTB shares dropped 31.8% to $1.41.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 6:20 pm