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JPM

LLY

NVO

JPMorgan Chase & Co. has secured over $500 million for a biotech venture capital fund focusing on weight-loss drugs, particularly GLP-1 drugs. The fund, led by Steve Squinto and Gaurav Gupta, aims to capitalize on the booming demand in the healthcare sector. Novo Nordisk and Eli Lilly currently dominate the market, but the fund anticipates more significant winners in the future.

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 1:26 pm

INDA

ZAPP

Zapp EV has signed a Memorandum of Understanding (MOU) with Bounce Electric to manufacture and sell the i300 electric scooter in India. Bounce will support homologation and distribution. Zapp aims to roll out the i300 in Europe and Thailand by summer 2024.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:25 pm

FDIS

NKE

PMMAF

VCR

Nike's attempt to trademark 'footware' for tech-related products was rejected by the General Court of the European Union, following a challenge from Puma. The court ruled that 'footware' could be confused with the generic term 'footwear' and mandated Nike to cover Puma's legal expenses. Nike has the option to appeal to the European Court of Justice.

Portfolio Pulse from Shivani Kumaresan

June 13, 2024 | 1:24 pm

REVB

Revelation Biosciences has completed enrollment and dosing in its first human Phase 1 study of Gemini. The top-line data will include safety, tolerability, and biomarkers, supporting future development across multiple indications.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:22 pm

F

Ford Motor Co (NYSE:F) has been actively recruiting talent from Rivian, Tesla, Apple, and other companies to build its low-cost EV team. The team has grown to around 300 employees, including significant hires from Rivian, Tesla, Canoo, Lucid, and Apple's disbanded Car team. Ford's acquisition of Auto Motive Power (AMP) in late 2023 added over 100 employees to the team. Ford aims to create lower-cost EVs to meet customer demand and compete with Tesla and Chinese EV makers. Despite increased EV sales, Ford expects its EV division to post a significant EBIT loss in 2024.

Portfolio Pulse from Anan Ashraf

June 13, 2024 | 1:21 pm

GCTK

Glucotrack has completed a 60-day preclinical study of its implantable continuous glucose monitor, confirming its potential for simplified management of painful diabetic neuropathy.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:20 pm

BLZE

Backblaze, Inc. (NASDAQ:BLZE) has partnered with Coalition to enhance cyber risk protection and compliance. Coalition's customers will now have direct access to Backblaze's enterprise-grade backup solution through the Coalition Control® platform.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:20 pm

AEZS

Aeterna Zentaris has completed its Phase 3 DETECT-Trial for Macimorelin, aimed at diagnosing childhood onset growth hormone deficiency. Top-line data and full study results are expected in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:20 pm

UBER

Uber for Business has been selected as the exclusive rideshare solution for RedCap by Solera, enhancing transportation solutions at car dealerships. This integration allows RedCap customers to arrange on-demand rides and parts deliveries through Uber's platform.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:19 pm

MULN

Mullen Automotive shares are trading higher after its Bollinger Motors division secured a $13.2 million order for 80 Bollinger B4 trucks.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 1:19 pm