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PRTG

Portage Biotech Inc. (NASDAQ:PRTG) announced a strategic update, prioritizing its adenosine clinical candidates and pausing the iNKT clinical development to focus resources. The ADPORT-201 trial for PORT-6 and PORT-7 is progressing well, with plans to present data later this year. The company is also collaborating with Merck on KEYTRUDA combinations. Due to funding constraints, Portage is pausing the PORT-2 iNKT program and exploring strategic options, which may include partnerships. A cost-savings plan is being implemented, including workforce reductions.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:04 pm

PSTX

Poseida Therapeutics, Inc. (NASDAQ:PSTX) reported positive early clinical data for its allogeneic myeloma cell therapy P-BCMA-ALLO1 at ASH 2023, indicating potential to compete with autologous CAR-T. The company plans to update clinical data for P-BCMA-ALLO1 and P-MUC1C-ALLO1 in 2024 and expects to dose the first patient in the P-CD19CD20-ALLO1 trial early 2024. Poseida expanded its partnership with Roche, accelerating milestone achievements. The company also highlighted progress in its non-viral gene therapy portfolio, including P-FVIII-101 for Hemophilia A. Poseida's cash position is expected to fund operations into the second half of 2025, supported by business development and partnerships.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:03 pm

OCUP

Ocuphire Pharma has received FDA agreement under a Special Protocol Assessment (SPA) for its LYNX-2 Phase 3 trial of Phentolamine Ophthalmic Solution. This agreement is a significant step for the company as it moves forward with the clinical development of its product designed to treat night vision disturbances (NVD).

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:02 pm

DARE

Daré Bioscience, Inc. (NASDAQ:DARE) announced the achievement of proof of concept for its DARE-LARC1 platform technology, which can deliver therapeutic doses over extended periods. The technology, developed at MIT, has been enhanced by Daré and shows promise in women's health, particularly in long-acting contraceptives, and could transform treatment for chronic conditions like diabetes and obesity. Daré plans to begin strategic discussions with pharmaceutical companies and is developing the technology with foundation grant funding.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:02 pm

RXRX

Recursion (NASDAQ:RXRX) has signed an agreement with Bayer AG to in-license a new chemical entity from their fibrosis research collaboration. This compound has shown potential to reverse fibrotic processes and is now part of Recursion's late discovery pipeline. The company's technology enabled the identification of small molecules that can potentially treat fibrotic diseases, which are a major health concern with high unmet needs.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:01 pm

PHGE

BiomX has been granted Orphan Drug Designation by the FDA for BX004, a treatment for chronic pulmonary infection caused by Pseudomonas Aeruginosa in cystic fibrosis patients.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:01 pm

MDGS

Medigus Ltd., through its subsidiary Revoltz, has announced the launch of pre-orders for PORTO, an innovative electric vehicle (EV). This move signifies Medigus's entry into the EV market and could potentially impact the company's future revenue streams and market position.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:53 pm

KNSA

Kiniksa Pharmaceuticals reported that its ARCALYST (rilonacept) net product revenue increased by approximately 90% year-over-year to $233.1 million in 2023. The company also forecasts ARCALYST's net product revenue for 2024 to be between $360 million and $380 million.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:48 pm

NIO

China has issued guidelines to use New Energy Vehicles (NEVs) as mobile energy storage facilities to support the power grid by 2030. The National Development and Reform Commission (NDRC) is involved in this initiative. By 2025, China aims to establish a technical standard system for vehicle-grid interaction and implement a tariff mechanism for off-peak charging. Nio Inc. (NYSE:NIO) is exploring ways to make its battery swap stations function as virtual power plants in line with these guidelines. The move reflects China's commitment to the EV sector, which continues to grow despite economic challenges.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 12:46 pm

SNSE

Sensei Biotherapeutics announced the completion of SNS-101 monotherapy dose escalation up to 15 mg/kg without any dose-limiting toxicities. The company also emphasized its strong financial position, with a cash runway extended into the fourth quarter of 2025.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 12:43 pm