Streetbeat News

Partnerships

BTI

OGI

Canadian cannabis company Organigram Holdings Inc. (NASDAQ:OGI) (TSX:OGI) has announced a $91.2 million strategic equity investment from BT DE Investments Inc., a subsidiary of British American Tobacco (BAT) (NYSE:BTI). The investment will be used to create a strategic investment pool, Jupiter, which will target emerging cannabis opportunities. This transaction increases BAT's voting Common Share ownership position to 30% and overall equity interest to 45% in Organigram. The first tranche of the investment is expected to close on January 16, 2024.

Portfolio Pulse from Jelena Martinovic

November 06, 2023 | 1:35 pm

IGXT

TLRY

IntelGenx Corp. and Tilray Brands Inc. have entered into a second amendment to their November 2018 license, development and supply agreement for the co-development and commercialization of cannabinoid-infused VersaFilm products. The amendment settles IntelGenx's arbitration claim against Tilray and includes an initial purchase order from Tilray for three SKUs. The agreement also allows for IntelGenx's co-development and commercialization of CBD, THC, and combination THC:CBD products with additional partners, and removes any royalties paid to or from Tilray.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:34 pm

AMZN

RIVN

TSLA

Rivian Automotive Inc is set to report Q3 earnings with an expected negative EPS of $1.33 and revenue of $1.31 billion. The company's R2 model, set to be revealed in 2024, is a significant focus for future revenues. However, Rivian's recent fundraising and stock dilution, along with significant cash burn, have caused investor caution. Despite a 45% drop in stock price over the past year, analysts see a potential buy opportunity, with price targets ranging from $24 to $31. Rivian's partnership with Amazon for EDV deliveries in Germany is also seen as a positive.

Portfolio Pulse from Surbhi Jain

November 06, 2023 | 1:33 pm

OGI

Organigram has announced a C$124.6 million investment from BAT and the creation of a strategic investment pool named 'Jupiter'. This has led to a rise in Organigram's share prices.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:32 pm

GRFS

GigaGen, a subsidiary of Grifols, has presented IND-enabling data and the clinical trial design for its first-in-human Phase 1 study evaluating the company's oncology candidate, GIGA-564, at the 2023 Society for Immunotherapy of Cancer (SITC) Annual Meeting. The Phase 1 trial will be conducted by the National Cancer Institute and is expected to start in 2024. GIGA-564 is a differentiated anti-CTLA-4 antibody with potential to enhance anti-tumor activity and mitigate immune-related toxicities associated with traditional CTLA-4 blockade.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:20 pm

WBX

Wallbox N.V. (NYSE:WBX) has announced a strategic partnership with Osprey, a leading rapid EV charging network in the UK. The partnership will begin with the installation of 125 of Wallbox's Supernova DC rapid chargers at Osprey's low-voltage connection stations. The collaboration aims to expand the Osprey network and improve charge point availability and reliability, which are crucial for consumer confidence in switching to electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:18 pm

ENVB

Enveric Biosciences has entered into a purchase and registration rights agreement with Lincoln Park Capital Fund. Under the agreement, Lincoln Park has committed to purchase up to $10M of Enveric's common stock, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:17 pm

CABA

Cellares and Cabaletta Bio have partnered to evaluate automated manufacturing for CABA-201, Cabaletta's CD19-CAR T Cell Therapy, on Cellares' Cell Shuttle Platform.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:16 pm

PXLW

Mediatek has adopted Pixelworks' Visual Processing Pro software solution for its new Dimensity 9300 flagship SOC for smartphones.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:15 pm

KIDS

OrthoPediatrics Corp. has entered into a distribution agreement with Ora Medical to sell Ora Medical's Levity Gait Trainer. This partnership could potentially increase OrthoPediatrics' product offerings and revenue.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 1:10 pm