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On Monday, several stocks experienced declines, with notable losses in the biotech sector and among companies associated with Bitcoin due to a pullback in its price. Cogent Biosciences and Biomea Fusion reported clinical trial data, resulting in significant drops in their share prices. Companies like CleanSpark, HIVE Digital Technologies, Riot Platforms, and Marathon Digital Holdings were affected by the Bitcoin price movement. Gildan Activewear announced a leadership change, and Tellurian updated its executive team.

Portfolio Pulse from Avi Kapoor

December 11, 2023 | 4:07 pm

APLS

Apellis Pharmaceuticals' shares have declined following the presentation of post hoc data that supported the long-term efficacy and safety of EMPAVELI for up to three years in adults with paroxysmal nocturnal hemoglobinuria.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 4:01 pm

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The Cannabist Company Holdings Inc. and RIV Capital Inc. have received approval from the New York Office of Cannabis Management for adult-use cannabis operations. The Cannabist will begin wholesale distribution immediately and plans to open its first retail location in NYC. RIV Capital's Etain, LLC will transition to an adult-use operator and anticipates opening its first co-located MMJ and adult-use retail dispensary in early 2024. Other companies like Acreage Holdings Inc. and Cresco Labs have also been permitted to sell adult-use cannabis in New York.

Portfolio Pulse from Jelena Martinovic

December 11, 2023 | 3:32 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) has partnered with Italian cryptocurrency wallet company Conio, owned by Poste Italiane and Banca Generali, to enhance liquidity and trading capabilities for a broad range of cryptocurrencies. Conio, with over 400,000 customers, will use Coinbase Prime to support up to 50 tokens by the end of 2023 and plans to expand its custody technology to Ethereum, Polygon, and Avalanche. The partnership aims to meet the growing demand for digital assets among Italian banks and financial institutions.

Portfolio Pulse from Khyathi Dalal

December 11, 2023 | 3:14 pm

BMEA

Biomea Fusion's stock price dropped following the announcement of data presentation for BMF-219 targeting relapsed/refractory AML patients with menin-dependent mutations at ASH 2023.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 3:09 pm

MDT

Cosmo Pharmaceuticals' subsidiary, Cosmo Intelligent Medical Devices, has expanded its partnership with Medtronic (NYSE:MDT) to advance AI-driven endoscopic care. The collaboration builds on the success of the GI Genius module, an AI-powered polyp detection system, and introduces the AI Access platform for hosting multiple AI applications. Medtronic will pay Cosmo $100 million upfront, royalties on net sales, and up to $100 million in milestone payments by the end of 2024. Cosmo remains the exclusive manufacturer, while Medtronic gets exclusive global commercial rights.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:58 pm

COGT

Cogent Biosciences' stock is trading lower following the release of initial data from its Phase 2 SUMMIT trial and Part 1 of its Phase 2 APEX clinical trial presented at ASH 2023. The market's reaction suggests that the data may not have met investor expectations.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:52 pm

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Knightscope, Inc. (NASDAQ:KSCP) has deployed its first autonomous security robot, nicknamed 'Rob,' at U.S. Bancorp Tower in downtown Portland. Rob enhances security with features like 4K video surveillance, thermal imaging, two-way intercom, and license plate recognition. Unico Properties LLC, the operator of the tower, aims to provide top-tier security for tenants and visitors. Knightscope's technologies have historically led to reduced crime and increased arrests, adding to the safety of the building.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:42 pm

IMMX

Immix Biopharma, Inc. (IMMX) reported a 100% overall response rate and 70% complete response rate for its CAR-T therapy NXC-201 in a Phase 1b/2a study for relapsed/refractory AL Amyloidosis patients. The best response duration was 23.7 months and ongoing as of December 10, 2023. The study was presented at the 65th American Society of Hematology Meeting. NXC-201 is the first CAR-T in clinical development for AL amyloidosis and has received Orphan Drug Designation by the FDA. The prevalence of the disease is growing by 12% per year, with an estimated 29,712 patients in 2023. The Amyloidosis market is expected to reach $6 billion by 2025.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:39 pm

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New York State has announced plans to invest $1 billion to expand semiconductor research, leveraging the federal CHIPS Act to bolster the industry in Albany and potentially attract more high-tech manufacturing jobs to the region.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 2:37 pm