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ARKB

BITB

FBTC

IBIT

Bitcoin and Ethereum experienced significant price increases, with Bitcoin surpassing $57,000 and Ethereum over $3,200. This surge is accompanied by a record $2.4 billion trading volume in nine new Bitcoin ETFs and a total net inflow of $519 million into Bitcoin spot ETFs. BlackRock's IBIT led with a $1.3 billion trading volume, while Fidelity's FBTC and Ark's ARKB saw the largest inflows. The market's bullish run is attributed to growing investor confidence in cryptocurrency as a legitimate asset class.

Portfolio Pulse from Murtuza Merchant

February 27, 2024 | 1:58 pm

NRXP

NRx Pharmaceuticals, Inc. (NRXP) announced a $1.5M underwritten public offering of common stock at $0.30/share, with an additional investor commitment of $1M. The offering, managed by EF Hutton LLC, aims to raise funds for working capital, general corporate purposes, and servicing current debt obligations. The company highlighted the offering's accretive nature to shareholder value and its strategy to avoid dilutive transactions common in the biotech sector. Proceeds will also support the launch of HOPE Therapeutics, with first revenue expected by the end of Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:57 pm

VKTX

Viking Therapeutics' stock is trading higher following the announcement that its Phase 2 VENTURE trial successfully met its primary and all secondary endpoints.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:55 pm

EEIQ

EpicQuest Education Group International Limited (NASDAQ: EEIQ) announced that Davis University received HLC approval for two new STEM programs, expected to significantly increase revenue from students in India and China. The company plans to double the number of students from China and sees India as a significant revenue source, especially with the US being a top choice for Indian students. The recent opening of a recruiting office in Sri Lanka aims to attract students from Southeast Asia and the Middle East. Previously, HLC approved Davis University's online programs, indicating no further approvals are needed for online education.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:49 pm

DBGI

Digital Brands Group, Inc. (DBGI) announced plans to open its first retail store in Dallas, Texas, in the first half of April. The store, located at the Simon Premium Outlet Mall in Allen, is forecasted to generate over $1.5 million in annual revenue and $500,000 in annual cash flow. This move is part of DBG's strategy to clear excess inventory, particularly from its Sundry acquisition, at higher margins than selling into the off-price channel. DBG's CEO, Hil Davis, highlighted the importance of retail stores in the company's growth strategy alongside wholesale and e-commerce.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:48 pm

ICU

SeaStar Medical Holding Corporation (NASDAQ:ICU) announced the publication of a manuscript in the European Journal of Heart Failure discussing the potential of its Selective Cytopheretic Device (SCD) in treating heart failure patients with hyperinflammation. The manuscript highlights the device's role in reducing systemic inflammation, potentially enabling heart failure patients to receive life-saving treatments like LVADs or heart transplants. The Adult SCD, part of the Quelimmune product family, received Breakthrough Device Designation from the FDA for cardiorenal syndrome in September 2023. Additionally, SeaStar Medical recently announced FDA approval for the Pediatric SCD for children with acute kidney injury due to sepsis.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:47 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) is advancing in the oncology and hematology fields with its development of combination therapy for cancer treatment and immunity booster dietary supplements, both derived from Maitake Mushroom. The company has initiated marketing and sales of these dietary supplements in the US, Canada, and Asia, and expects revenue generation through its CDMO subsidiary, BioKey, Inc. The US FDA has approved four INDs for various cancer treatments. ABVC is set to begin Phase II clinical trials to study the efficacy and safety of its drug formulation as a combination therapy for oncology. The company's R&D efforts have been recognized with FDA approvals, and it is working on co-development projects with Rgene Corporation. The global markets for cancer therapeutics, dietary supplements, pharmaceutical CDMO, and botanical drugs are projected to grow significantly by 2032.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:45 pm

GCTK

Glucotrack has chosen Cirtec Medical to manufacture its innovative implantable continuous blood glucose monitor, marking a significant step forward in the development and commercialization of this critical healthcare device.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 1:45 pm

HIMS

JANX

PUBM

Shares of Janux Therapeutics (JANX), PubMatic (PUBM), and Hims & Hers Health (HIMS) surged following positive updates. JANX soared 156% after announcing promising clinical data. PUBM jumped 38% on strong Q4 results and future guidance. HIMS increased 22% also due to favorable Q4 outcomes and guidance.

Portfolio Pulse from ryanfaloona@benzinga.com

February 27, 2024 | 1:44 pm