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IRDM

Iridium Communications Inc. has announced an agreement to acquire the remaining approximately 80% stake in Satelles for about $115 million. This acquisition will introduce Satellite Time and Location as a new business line for Iridium, led by Satelles CEO Dr. Michael O'Connor. Iridium, which already owned about 20% of Satelles from previous investments, will assume all rights to Satelles' patent portfolio. The company expects the Iridium STL business to generate over $100 million in service revenue annually by 2030, in addition to revenue from equipment and engineering. The acquisition will be financed through an addition to Iridium's term loan.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:11 pm

BMR

Beamr (NASDAQ:BMR), a leader in video optimization technology, announced the launch of Beamr Cloud, a SaaS solution for high-quality video processing. In its annual shareholder letter, CEO Sharon Carmel highlighted the company's 2023 achievements, including financial results and the recent launch of Beamr Cloud in February 2024. Beamr raised $13.8 million in February 2024 to expand its video cloud services, focusing on User-Generated Content, Generative AI, IoT, and Streaming markets. The company plans to integrate AI workflows into Beamr Cloud and participate in the NVIDIA-led GTC conference on March 17th to discuss its AI integration plans.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:11 pm

CSIQ

Canadian Solar Inc. (CSIQ) has partnered with Sol Systems to expand solar module production in the U.S., utilizing its Texas factory to supply high efficiency N-Type TOPCon solar modules for Sol Systems' projects between 2024 and 2025. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:09 pm

HSDT

Helius Medical Technologies announced it has secured HCPCS codes for its Portable Neuromodulation Stimulator (PoNS) mouthpiece and controller, a significant step for reimbursement and accessibility in the healthcare market.

Portfolio Pulse from Charles Gross

March 04, 2024 | 12:08 pm

BLRX

BioLineRx has received a Notice of Allowance for a U.S. patent on the manufacturing method of Motixafortide (BL-8040), enabling large scale production. The new patent will be valid until December 2041.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:08 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are down over 1% in premarket trading due to disappointing sales figures in China for February. The company sold 60,365 electric vehicles, marking a 15.51% sequential drop and an 18.9% year-over-year decline. This underperformance is attributed partly to the timing of the Chinese New Year holidays. Comparatively, Chinese EV startups Li Auto, Nio, XPeng, and BYD also reported declines, with Tesla's drop being less steep. Concerns are raised about Tesla's Q1 sales, with challenges noted in the U.S., China, and Europe.

Portfolio Pulse from Shanthi Rexaline

March 04, 2024 | 12:06 pm

UNCY

Unicycive Therapeutics, Inc. (NASDAQ:UNCY), a biotech company, announced that the FDA has granted orphan drug designation to UNI-494 for preventing Delayed Graft Function in kidney transplant patients. UNI-494 is a cytoprotective agent that works by activating KATP channels in mitochondria.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:05 pm

CRL

DRRX

Durect Corporation (DRRX) has entered into a co-marketing and collaboration agreement with Charles River Laboratories (CRL) for the ALZET Osmotic Pumps portfolio and associated product line in the US and Canada. This partnership aims to enhance the distribution and development of the ALZET product line, potentially increasing market reach and revenue for both companies.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:02 pm

EDAP

EDAP TMS SA announced its Focal One platform received FDA Breakthrough Device designation for treating deep infiltrating rectal endometriosis. Previously, in June 2018, the FDA cleared Focal One for prostatic tissue ablation.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 12:02 pm

GIII

In the last three months, 7 analysts have provided diverse ratings on G-III Apparel Group (NASDAQ:GIII), ranging from bullish to bearish. The average 12-month price target is $28.29, indicating a 10.94% increase from the previous target. Analyst actions include both upgrades and downgrades, with price targets adjusted accordingly. G-III Apparel Group, a textile company with a portfolio including DKNY and Calvin Klein, shows a negative revenue trend but impressive net margin and ROE. Its market capitalization is below industry averages, and it has a balanced debt approach.

Portfolio Pulse from Benzinga Insights

March 04, 2024 | 12:00 pm