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GOSS

Gossamer Bio Inc (NASDAQ:GOSS) has partnered with Italy's Chiesi Farmaceutici to develop and commercialize seralutinib for pulmonary arterial hypertension (PAH) and pulmonary hypertension associated with interstitial lung disease (PH-ILD). The collaboration aims to advance lung health solutions globally, with both companies sharing development costs and commercial profits in the U.S. Chiesi will lead commercialization outside the U.S. and pay Gossamer up to $486 million in development, regulatory, and sales milestones.

Portfolio Pulse from Vandana Singh

May 06, 2024 | 5:17 pm

BABA

GLD

SPY

China's central bank has significantly increased its gold purchases, driving global gold prices to record highs in April 2024, with prices reaching up to $2,431 per troy ounce. This surge has made gold, particularly in forms like 'gold beans' popular among Gen Z in China, facilitated by platforms like Alibaba's Taobao. The SPDR Gold Trust (GLD) has seen substantial gains, outperforming major equity indices such as the S&P 500, tracked by the SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Piero Cingari

May 06, 2024 | 5:14 pm

TCBP

TC BioPharm (NASDAQ:TCBP), a biotech firm, announced the exercise of warrants for £3.1 million in gross proceeds to fund an Acute Myeloid Leukemia trial and other expenses. The warrants allow the purchase of 1,750,000 ADSs at £1.5814 each. New warrants will also be issued, exercisable for 3,500,000 shares at £1.175 per ADS. H.C. Wainwright & Co. serves as the placement agent, with the offering expected to close by May 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:03 pm

MULN

Mullen Automotive, Inc (NASDAQ:MULN) shares surged after announcing a deal with National Auto Fleet Group to sell electric vehicles nationwide, including two all-electric commercial vehicles. The partnership aims to serve national fleet customers and offer Mullen's EVs to public fleets across the U.S. Additionally, Mullen adopted a stockholder rights plan to prevent significant ownership changes without board approval, effective until May 1, 2025.

Portfolio Pulse from Dylan Berman

May 06, 2024 | 5:03 pm

RKT

Rocket Cos. has appointed Shawn Malhotra, a former Thomson Reuters executive, as its new Chief Technology Officer (CTO) to lead its companywide artificial intelligence (AI) efforts. This strategic move aims to unify and accelerate Rocket's AI initiatives across its portfolio, including Rocket Mortgage, Rocket Homes, and Rocket Money. Malhotra's role will focus on data science, product engineering, technology operations, and information security, with a primary emphasis on AI to enhance the home-buying experience. The appointment follows the departure of Rocket Mortgage's CIO, Brian Woodring, and is part of Rocket's broader strategy to integrate technology into its core operations.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 5:03 pm

CVLC

JPM

MS

PAPI

Crystal Zhu has moved from JPMorgan Chase & Co (JPM) to Morgan Stanley (MS) as co-head of the Asia Pacific technology team, focusing on tech sector M&As and IPOs. This follows high-level exits at Morgan Stanley and comes amid efforts to boost its APAC presence and expand into Bitcoin ETFs. Morgan Stanley recently outperformed analyst revenue and EPS estimates for Q1 2024.

Portfolio Pulse from Anusuya Lahiri

May 06, 2024 | 5:01 pm

MSTR

Michael Saylor, MicroStrategy's executive chairman, criticized the current global financial system for being outdated and championed Bitcoin as a superior digital asset, calling it 'digital gold' and the 'apex property of the human race.' He emphasized Bitcoin's attributes like decentralization, scarcity, and security, advocating for a financial system overhaul to accommodate the digital era. His views were shared at a conference attended by Fortune 1000 company representatives, highlighting the need for a system that reflects the digital age's proficiency.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 4:37 pm

AMGN

Amgen's CEO, Robert Bradway, discussed innovation in healthcare at the Milken Conference, highlighting the company's efforts to gain approval for a small cell lung cancer treatment and to transform the understanding of obesity and its related diseases.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:31 pm

WULF

TeraWulf Inc (NASDAQ:WULF) shares increased by 11.2% to $2.43 without specific company news. The company reported mining 348 Bitcoins in April, with a power cost of $16,058 per bitcoin. It replaced older miners with 3,000 S19k Pro models, bringing the total to 4,100. Bitcoin production decreased by 5% from March, with 68% mined before the April 19th halving. Transaction fees increased post-halving, offsetting reduced block subsidies. Construction of Building 4 at Lake Mariner is on schedule, expected to enhance operational capacity. TeraWulf is also planning a high-performance computing (HPC) / AI project at Lake Mariner.

Portfolio Pulse from Henry Khederian

May 06, 2024 | 4:22 pm

ETHUSD

SOLUSD

Joe McCann, founder of Asymmetric, expressed a bullish outlook on Solana (SOL), citing its high throughput, low transaction costs, and the upcoming 'Fire Dancer' update aimed at increasing transaction capacity. He compared Solana's potential impact on the crypto market to the role of meme coins and discussed the concept of 'financial nihilism' among younger generations. The discussion anticipates further exploration at the Benzinga Future of Digital Assets event.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 4:20 pm