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TNXP

Tonix Pharmaceuticals (TNXP) received Rare Pediatric Disease Designation from the FDA for TNX-2900, aimed at treating Prader-Willi Syndrome (PWS), a genetic cause of life-threatening childhood obesity. This designation follows TNX-2900's Orphan Drug designation in 2022 and IND clearance in 2023. Approval of TNX-2900 could make Tonix eligible for a Priority Review Voucher, recently sold for around $100 million. The FDA's voucher program encourages development of treatments for rare pediatric diseases, with vouchers selling for significant amounts.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:06 pm

AVAI

Avant Technologies announced plans to construct an AI-focused data center in Milwaukee, marking a significant expansion in its infrastructure to support growing AI demands.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:05 pm

ARWR

Arrowhead Pharmaceuticals has started an Expanded Access Program for Plozasiran, a drug aimed at treating a specific medical condition. This program allows patients who are not eligible for clinical trials to gain access to the drug, potentially speeding up its availability and usage in real-world settings.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:05 pm

MASI

Masimo Corporation (NASDAQ:MASI), a patient monitoring device maker, is considering separating its consumer business amid pressure from activist investor Quentin Koffey of Politan Capital Management, who seeks to expand his board presence. Politan, holding a 9% stake in Masimo, nominated two candidates for the 2024 Annual Meeting, aiming to increase its influence. This follows criticism of Masimo's acquisition of Sound United and its strategic direction. The proposed separation includes consumer audio and health products, aiming to enhance healthcare business profitability. Masimo's shares surged 13.7% in after-hours trading.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 12:05 pm

CTVA

Ducera Partners LLC announced a strategic collaboration between its venture capital investment platform, Ducera Growth Ventures, and Corteva Catalyst, a new platform by Corteva (NYSE:CTVA), aimed at identifying innovative companies for investment or partnership. Ducera Growth will leverage its proprietary AI tool, Quannix®, to provide insights into early-stage companies with growth potential, supporting Corteva's strategic priorities in agricultural innovation.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:04 pm

CENX

Century Aluminum Company (CENX) is set to negotiate for up to $500 million in funding from the U.S. Department of Energy for a new aluminum smelter, marking the first new U.S. primary aluminum smelter in 45 years. This project, part of the Industrial Demonstrations Program, aims to decarbonize energy-intensive industries, strengthen local economies, create jobs, and reduce greenhouse gas emissions. It is expected to double the size of the current U.S. primary aluminum industry and create over 6,500 jobs. CENX shares rose 3.03% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 12:03 pm

ACN

ADBE

Accenture and Adobe have announced a collaboration to co-develop generative AI solutions aimed at accelerating marketing transformation. This partnership is designed to assist organizations in transitioning from experimenting with generative AI to adopting it at scale, indicating a significant step forward in the integration of AI technologies in marketing strategies.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 12:03 pm

XIACF

Xiaomi (OTC:XIACF) announced its first electric vehicle, the SU7 sedan, will be priced below $70,000. The vehicle, with two versions offering up to 800km range, surpasses Tesla's Model S in range. Official pricing will be revealed on March 28, with orders starting subsequently. Xiaomi aims to enter the top five automakers, with the CEO comparing the SU7 to Porsche Taycan and Tesla Model S. Despite new initiatives expenses, Xiaomi reported a 126.3% year-on-year profit growth for 2023.

Portfolio Pulse from Anan Ashraf

March 25, 2024 | 12:01 pm

BABA

BILI

ONLN

PGJ

XPEV

Alibaba Group Holding Ltd (NYSE:BABA) is pausing operations of its Ling Shou Tong platform to adjust its business strategy, focusing on AI and core retail and technology sectors. Despite this, LST is not shutting down or merging with another platform. Alibaba sold $360 million of Bilibili Inc (NASDAQ:BILI) shares and reduced stakes in other companies, reallocating resources towards AI. It plans to launch a new processor to counteract U.S. export controls on chip technologies. Alibaba's stock has declined over 16% in the past year, but can be accessed through ETFs like Invesco Golden Dragon China ETF (NASDAQ:PGJ) and ProShares Online Retail ETF (NYSE:ONLN).

Portfolio Pulse from Anusuya Lahiri

March 25, 2024 | 12:01 pm

AAPL

BIDU

Baidu's stock is on the rise following reports of discussions with Apple about integrating Baidu's AI technology into the iPhone 16 and other Apple products for the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 11:51 am