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FGEN

FibroGen has initiated a restructuring plan following negative trial data for its drug Pamrevlumab. The plan includes a 75% reduction in its U.S. workforce, affecting 127 employees.

Portfolio Pulse from charles@benzinga.com

August 07, 2024 | 10:40 pm

CURLF

Fab 5 Freddy's B NOBLE and Greenbook Academy are offering 100 free cannabis job training grants in Florida. This initiative aims to empower minorities and other individuals with skills needed in the cannabis industry. Curaleaf (OTC:CURLF) is involved in this cause-based brand venture.

Portfolio Pulse from Patricio Liddle

August 07, 2024 | 10:26 pm

ETHUSD

MATICUSD

USDCUSD

The 2024 presidential election betting markets show a close race between Donald Trump and Kamala Harris, with Trump having a slight edge. The odds have shifted significantly over recent months, influenced by events such as an assassination attempt on Trump and Biden's withdrawal from the race. Prediction market Polymarket also shows a near toss-up between the two candidates.

Portfolio Pulse from Chris Katje

August 07, 2024 | 10:08 pm

UPWK

Upwork Inc (NASDAQ:UPWK) reported its Q2 earnings with a revenue beat but an EPS miss. Revenue was $193.1 million, slightly above estimates, while EPS was 17 cents, below the expected 23 cents. The company saw significant growth in AI-related work and free cash flow. However, Q3 revenue guidance was below estimates, leading to a 7.65% drop in after-hours trading.

Portfolio Pulse from Adam Eckert

August 07, 2024 | 9:49 pm

VTLE

Vital Energy has increased its FY24 production guidance from 116.5-121.5 MBOE/d to 127.0-131.0 MBOE/d, indicating a positive outlook for the company's operational performance.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:49 pm

PAAS

Pan American Silver (PAAS) has announced its silver production forecast for 2024, estimating between 21 million to 23 million ounces.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:45 pm

JOBY

Joby Aviation, Inc. (NYSE:JOBY) shares rose after the company reported its Q2 financial results. The company met analyst expectations with a GAAP loss of 18 cents per share and reported a net loss of $123.3 million. Joby highlighted progress in aircraft certification and flew a hydrogen-electric air taxi demonstrator 561 miles. The company also acquired the autonomy division of Xwing.

Portfolio Pulse from Erica Kollmann

August 07, 2024 | 9:44 pm

TTI

TETRA Technologies, Inc. (NYSE: TTI) has completed a Definitive Feasibility Study (DFS) for its Arkansas Bromine Project, upgrading previously announced bromine resources to reserves. The study indicates a Net Present Value (NPV) of $710 million for a vertically integrated production case, compared to $337 million for third-party bromine purchases. The project is expected to increase TETRA's revenue by $200-$250 million and Adjusted EBITDA by $90-$115 million. The project will be funded through existing credit facilities and cash flow, with a projected payback period of 5.7 years.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:43 pm

JNJ

Johnson & Johnson announced positive results from the Phase 2 UNITY study of nipocalimab for treating pregnant individuals at high risk for early onset severe hemolytic disease of the fetus and newborn (HDFN). The study, published in The New England Journal of Medicine, showed that 54% of participants achieved a live birth at or after 32 weeks without the need for intrauterine transfusion. Nipocalimab is currently the only therapy in clinical development for HDFN.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:41 pm

ATS

ATS Corporation (NYSE:ATS) has announced a definitive agreement to acquire Heidolph Group, a leading manufacturer of premium lab equipment for the life sciences and pharmaceutical industries. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 9:40 pm