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IMVT

ROIV

Immunovant Inc (NASDAQ:IMVT) reported positive results from a Phase 2 trial of batoclimab for Graves' disease, with response rates exceeding 50%. The 680 mg dose showed up to 87% IgG reduction after 12 weeks. The drug was well tolerated with no new safety issues. CEO Pete Salzmann indicated future development plans for IMVT-1402 in Graves' disease to be announced in 2024. IMVT shares rose 12.10% in premarket trading.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 1:57 pm

AAPL

GOOG

GOOGL

Apple Inc. (AAPL) and Alphabet Inc.'s Google (GOOG, GOOGL) are set to introduce a collaborative solution for detecting unknown trackers, following the release of an industry-wide specification by the Internet Engineering Task Force. The technology will be platform-agnostic and support Bluetooth trackers from various manufacturers. Google has already implemented a preliminary method, while Apple is expected to launch its version soon, with full features anticipated in 2024. This initiative addresses privacy concerns raised by the misuse of Bluetooth trackers, such as Apple's AirTags.

Portfolio Pulse from Benzinga Neuro

December 21, 2023 | 1:57 pm

NVDA

NVIDIA Corp (NASDAQ:NVDA) stock is trading higher, influenced by Micron Technology Inc's (NASDAQ:MU) strong guidance following its Q1 earnings report. Micron beat revenue estimates but missed on EPS. The company's positive outlook for 2024 and the AI market opportunities are seen as beneficial for Nvidia, which is a major player in AI. Analysts have raised Micron's price targets post-earnings, and this optimism is spilling over to other chipmakers, including Nvidia.

Portfolio Pulse from Adam Eckert

December 21, 2023 | 1:56 pm

CALT

MCK

NVS

RHHBY

TVTX

VERA

Calliditas Therapeutics AB (NASDAQ:CALT) received full FDA approval for Tarpeyo, its treatment for IgAN, marking it as the first fully approved treatment for this condition based on kidney function. Tarpeyo, priced at $15,123 per month, is exclusively distributed through McKesson Corporation's (NYSE:MCK) specialty pharmacy, Biologics. Competitors like Travere Therapeutics Inc (NASDAQ:TVTX), Roche Holdings AG (OTC:RHHBY), Novartis AG (NYSE:NVS), and Vera Therapeutics Inc (NASDAQ:VERA) are developing treatments for IgAN. CALT shares rose 14.40% in premarket trading.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 1:54 pm

ABAT

American Battery Technology Company (ABTC) announced a positive Initial Assessment for its Tonopah Flats Lithium Project, with an updated mineral resource estimate of 18.03 million tons lithium hydroxide monohydrate. The project boasts an after-tax NPV of $4.41 billion, IRR of 65.8%, and a payback period of 2.4 years. The mine life is projected to be over 400 years with an average annual production of 33,000 tons. The assessment included data from Drill Program II and metallurgical testing, with plans for further updates and studies to optimize the commercial refinery design.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:52 pm

GSK

MRK

The FDA has issued a second Complete Response Letter (CRL) to Merck & Co Inc (NYSE:MRK) for gefapixant, a drug candidate for treating refractory chronic cough (RCC) and unexplained chronic cough (UCC) in adults, citing insufficient evidence of effectiveness. The CRL did not question the safety of gefapixant. Merck is currently reviewing the FDA's feedback. This development may benefit GSK Plc (NYSE:GSK), which has a competing chronic cough drug, camlipixant, in Phase 3 trials with expected approval in 2026. MRK's stock price saw a slight increase in premarket trading.

Portfolio Pulse from Vandana Singh

December 21, 2023 | 1:51 pm

NHWK

NightHawk Biosciences (NYSE:NHWK) has successfully completed a demonstration run for a microbial vaccine program at its Scorpius BioManufacturing subsidiary, which is part of a multi-million-dollar project funded by NIH and DTRA for a top-tier research university. The next phase will involve scaling up cGMP manufacturing for a phase 1 trial targeting infectious disease. The company's CDMO services are in high demand due to a scarcity of large molecule manufacturing capacity.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:47 pm

TGL

Treasure Global has launched 10 mini-games in ZCITY 3D World, powered by its Artificial Intelligence Game Creator. This move aims to tap into the growing global gaming market, projected to generate $212.4 billion in revenue by 2026. The mobile gaming market, where ZCITY's mini-games are positioned, is expected to contribute $92.6 billion. The online gaming market saw a 9.8% growth in 2023. The AI-powered mini-games are expected to enhance user experience and provide new revenue streams through in-game purchases and AI-driven marketing. Treasure Global's CEO, Sam Teo, believes this integration aligns with the market's growth and positions ZCITY as a leader in AI-enhanced entertainment.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:42 pm

HYLN

ISSC

SCS

TTC

ZIM

Five industrial stocks with high Relative Strength Index (RSI) values, indicating potential overbought conditions, are highlighted. Innovative Solutions and Support, Inc. (ISSC) reported strong quarterly results and saw its stock rise. Hyliion Holdings Corp. (HYLN) announced a stock repurchase plan, leading to a significant stock increase. Steelcase Inc. (SCS) released better-than-expected earnings and provided guidance, with its stock also climbing. The Toro Company (TTC) reported robust financial results and issued guidance, resulting in a stock gain. ZIM Integrated Shipping Services Ltd. (ZIM) reported a sales decline but expects benefits from strategic actions, with its stock increasing as well.

Portfolio Pulse from Avi Kapoor

December 21, 2023 | 1:40 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) is reportedly facing significant challenges in meeting its production goal of 250,000 Cybertrucks by 2025 due to issues with its 4680 battery technology. The current production rate of 4680 cells at Tesla's Giga Texas factory is only sufficient for about 24,000 Cybertrucks per year, far below the target. The main issue is achieving industrial-scale dry-coating for the cathode, a critical component of the battery. Tesla's stock was trading higher by 1.54% to $250.94 in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 1:34 pm