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MIST

Milestone Pharmaceuticals Inc (NASDAQ:MIST) stock rose 19.4% to $2.03 after announcing plans to resubmit the NDA for etripamil to the FDA for PSVT treatment. The FDA did not request additional clinical trials, and the company expects to fund operations until mid-2025 with existing cash reserves. A $75 million payment is anticipated under a royalty agreement if etripamil is approved.

Portfolio Pulse from Henry Khederian

February 26, 2024 | 2:50 pm

AMZN

EWW

Amazon Web Services (AWS) plans to invest over $5 billion in a new cluster of data centers in Queretaro, Mexico, over the next 15 years. This move is part of a growing demand for cloud services and comes amid the nearshoring trend. AWS aims to serve clients like Cinepolis, BIVA, Aeromexico, and local governments, potentially reducing their technology costs by around 20%. Amazon has already invested over $3.04 billion in Mexico since 2015.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:49 pm

GSK

GSK plc (NYSE:GSK) announced positive results from the EAGLE-1 phase 3 trial of gepotidacin, an oral antibiotic for gonorrhea, showing non-inferiority to the standard intramuscular treatment. The trial's success, based on microbiological response, positions gepotidacin as a potential novel oral treatment option amid rising antibiotic resistance and for patients with allergies or intolerance to current treatments. Gepotidacin is also being developed for urinary tract infections, with phase 3 data presented recently. The development has been supported by federal funds from various U.S. agencies.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 2:40 pm

ARM

NVDA

Arm Holdings Plc (NASDAQ:ARM) shares are experiencing an uptrend, attributed to the overall strength in the semiconductor sector and positive momentum from Nvidia Corp's (NASDAQ:NVDA) financial results and optimistic guidance. Nvidia's CEO highlighted a demand surge in accelerated computing and generative AI, which also benefits Arm. Arm's recent quarterly results exceeded analyst expectations, with strong guidance and plans for expansion into new markets driven by AI demand. SoftBank, which acquired Arm in 2016 and took it public in the largest IPO of 2023, retains about 90% ownership. Arm's stock has risen over 75% since the beginning of the year.

Portfolio Pulse from Adam Eckert

February 26, 2024 | 2:36 pm

SGML

Sigma Lithium has announced its pro forma targeted ongoing run rate cash unit operating cost guidance, with costs at $370/tonne at the plant gate, $420/tonne FOB Vitoria, and $510/tonne CIF China. CEO Ana Cabral-Gardner will present these figures at the 2024 BMO Global Metals, Mining & Critical Minerals Conference, alongside a Q&A session with BMO research analyst Joel Jackson. Investors are encouraged to contact their BMO representative to attend the presentation.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:33 pm

TKUNF

Greece has made medical marijuana available in pharmacies, seven years after its legalization, for patients with specific conditions such as chemo-induced nausea and chronic pain. The first legal patient, Anna Paga, reported significant pain relief from using medical cannabis. The country has also seen the establishment of its first medical cannabis production plant by Tikun-Olam Cannbit's subsidiary, Tikun Europe. This move is part of broader efforts to regulate medical marijuana use and curb the illegal market.

Portfolio Pulse from Nina Zdinjak

February 26, 2024 | 2:20 pm

JNJ

Johnson & Johnson announced the expansion of the IMBRUVICA label in the US to include an oral suspension formulation for adult patients in its approved indications. This development could potentially enhance the accessibility and ease of administration for patients requiring IMBRUVICA treatment.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:19 pm

TBIO

Telesis Bio (TBIO) reports a slight increase in its preliminary 2023 total consolidated revenue to $27.5M from $27.4M YoY. However, it forecasts a significant drop in FY24 total revenue to $7M from $9.5M YoY, attributed to capital spending weakness and a shift towards lower-priced BioXp 3250 instruments. Excluding BioXp instrument sales and discontinued BioFoundry Services, FY23 revenue saw a 12.4% increase to $20.9M from $18.6M.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:17 pm

NVDA

PANW

Palo Alto Networks Inc (NASDAQ:PANW) has launched comprehensive private 5G security solutions in collaboration with top partners including Nvidia Corp (NASDAQ:NVDA). This initiative aims to address the deployment, management, and security challenges of 5G networks, offering benefits like secure radio networks and AI-powered security applications. Palo Alto Networks reported a 19% revenue growth in its fiscal second quarter, outperforming consensus estimates.

Portfolio Pulse from Anusuya Lahiri

February 26, 2024 | 2:08 pm

SPRY

ARS Pharmaceuticals, Inc. (NASDAQ:SPRY) announced positive results from a Phase 2 study of neffy, an investigational epinephrine nasal spray, for treating chronic spontaneous urticaria, a skin disorder. The study met its primary endpoints, showing significant improvement in symptoms as early as 5 minutes after dosing. The data supports further development of neffy, with an outpatient study for acute flares planned for 2024 and a pivotal study potentially starting in 2025.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:03 pm