Streetbeat News

Partnerships

FLGC

Flora Growth Corp. has entered into a partnership with TruHC Pharma GmbH to expand its presence in Germany. The partnership will allow Flora Growth to leverage TruHC's distribution network to sell its products in the German market.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:32 pm

KAVL

PM

Kaival Brands has amended its agreement with Phillip Morris International for the distribution of ENDS products. The details of the amendment were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:09 pm

HTOO

Fusion Fuel (NASDAQ:HTOO) has submitted three green hydrogen projects to the H2 Pioneers II program, a part of the Spanish Recovery, Transformation and Resilience Plan (PERTE). The projects, with a combined electrolysis capacity of 13 MW, will be powered by Fusion Fuel's HC-Series NC technology. The company has secured offtake and power purchase agreements for all three projects, which would produce over 1,500 tonnes of green hydrogen annually. Fusion Fuel has requested €24.7 million in subsidies for these projects.

Portfolio Pulse from Happy Mohamed

August 17, 2023 | 8:06 pm

DTIL

Precision BioSciences Inc (NASDAQ:DTIL) has completed a strategic transaction with Imugene Limited for global rights to Azercabtagene Zapreleucel (azer-cel), Precision's lead allogeneic CAR T candidate for cancer. HC Wainwright analyst Patrick Trucchio lowered the price target for DTIL to $3 from $5, reflecting the value of the CAR T pipeline. The deal extends Precision's cash runway through 3Q25 and allows it to focus on internal gene editing programs. DTIL shares are down 14.6% at $0.45.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 6:18 pm

HNNMY

META

MSFT

RBLX

SPOT

Roblox Corporation's Q2 results missed estimates, causing a 21% drop in shares. Despite this, the company continues to expand its partnerships and brand activations, including collaborations with Meta Platforms, Spotify Technology, and H & M Hennes & Mauritz AB. Roblox reported a net loss of $282.8 million, attributed to increased expenses associated with growth. However, daily active users rose 25% YoY, and the company aims to reach 1 billion daily users. Roblox's entry into the Meta virtual headset market was successful, with over one million downloads in five days.

Portfolio Pulse from Upwallstreet

August 17, 2023 | 6:17 pm

F

Ford Motor Company, SK On Co Ltd, and EcoProBM have formed a consortium to invest C$1.2 billion (~$887.51 million) in building a cathode manufacturing facility in Becancour, Quebec. The facility will supply materials for Ford's future electric vehicles, with production targeted to begin in 2026. The project is part of SK On's efforts to secure a stable supply of key battery materials in North America and marks EcoProBM's entry into the North American market.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 5:07 pm

SELB

Selecta Biosciences Inc (NASDAQ:SELB) has announced a strategic initiative to maximize stockholder value by focusing on its gout treatment candidate, SEL-212. The company plans to suspend further investment in other pipeline assets to focus on potential licensing and corporate development activities. This is expected to extend its cash runway into 2027. Selecta will continue to develop SEL-212 in partnership with Sobi, with a BLA submission expected in the first half of 2024. The company will also continue the development of IdeXork under a licensing agreement with Astellas Gene Therapies.

Portfolio Pulse from Vandana Singh

August 17, 2023 | 5:04 pm

PL

Planet Labs (NYSE:PL) has secured a new contract with an undisclosed Ministry of Foreign Affairs in Asia for its global daily monitoring solution. The contract is said to have a seven-figure annual value. The company's shares are currently trading lower by 0.45% to $3.2950.

Portfolio Pulse from Nabaparna Bhattacharya

August 17, 2023 | 4:47 pm

F

TSLA

Ford Motor Company (NYSE:F) has filed a patent for a 'Roadway Charging Coil Alignment' system, which would allow electric vehicles (EVs) to charge while driving. The patent was filed in January 2022 and published by the U.S. Patent and Trademark Office in July. Ford is also partnering with Tesla Inc (NASDAQ:TSLA) to access over 12,000 Tesla Superchargers in the U.S. and Canada from 2024. From 2025, Ford will offer next-generation EVs with the North American Charging Standard connector built-in, eliminating the need for an adapter to access Tesla Superchargers.

Portfolio Pulse from Chris Katje

August 17, 2023 | 4:46 pm

MSFT

Microsoft CEO Satya Nadella has compared the potential impact of artificial intelligence (AI) on the company and the wider industry to that of the internet revolution. Microsoft has invested $13 billion in OpenAI, including a $10 billion investment in January 2021. Nadella believes that the partnership with OpenAI is working well, despite the hype and uncertainty surrounding AI.

Portfolio Pulse from Rounak Jain

August 17, 2023 | 3:24 pm