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MMAT

Meta Materials Inc. (MMAT) is proposing a reverse stock split to maintain its Nasdaq listing, requiring shareholder approval. The reverse split aims to sustain the number of authorized shares for technology production and sales. The Board urges shareholders to vote, with assistance available from D.F. King. The new CEO is focusing on commercialization, sales, and business wins for organic revenue growth. META is working on several initiatives, including a $41.5 million anticounterfeiting contract with a G10 central bank, a $1.5 million agreement with a global battery manufacturer, and pre-orders for its VLEPSIS WAMI sensor system starting in 2024.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:14 pm

PENN

PENN Entertainment, Inc. has announced a strategic partnership with Quail Hollow Club for market access in North Carolina for its online sports wagering platform, ESPN BET. This partnership includes ESPN BET becoming the exclusive official betting operator of the Wells Fargo Championship at Quail Hollow Club. The agreement is subject to regulatory approvals and will involve marketing integrations and fan activations during the tournament. ESPN BET, operated by PENN, launched on November 14 in 17 states, leveraging ESPN's brand and PENN's technology and expertise.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:13 pm

F

XEL

Ford Pro, the commercial division of Ford Motor Company, and Xcel Energy have announced a collaboration to install 30,000 EV charging ports by 2030 for business fleets across Xcel Energy's service territories in the U.S. The initiative, named 30x30, is part of Xcel Energy's broader Electric Vehicle Supply Infrastructure (EVSI) program and aims to simplify and reduce the cost of charging infrastructure for businesses. Ford Pro will provide charging equipment and customer support, while Xcel Energy will offset most upfront costs for qualifying businesses. The program will start in Colorado and Wisconsin in 2024, with plans to expand to other states. The collaboration also includes analyzing telematics data to promote off-peak charging, reducing grid emissions and saving money for customers.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:12 pm

NXGL

NEXGEL, Inc. has acquired Kenkoderm, a skincare line specializing in psoriasis treatment, with the aim of expanding its health and wellness consumer product portfolio. The acquisition is expected to be immediately accretive to NEXGEL's profitability, as Kenkoderm has been profitable over the trailing twelve months. NEXGEL plans to optimize marketing and supply chain operations to drive revenue growth and improve margins. Kenkoderm's products are sold primarily through e-commerce and Amazon, often as subscription bundles. NEXGEL's CEO, Adam Levy, intends to implement new marketing strategies and expand distribution channels, including retail. The transaction details can be found in NEXGEL's Form 8-K filed with the SEC on December 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:10 pm

STLA

Stellantis CEO announced plans to launch the company's first electric hydrogen heavy-duty pickup truck under the Ram brand in the U.S. by late 2026 or early 2027.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:09 pm

HRMY

Harmony Biosciences will present findings from a behavioral study on 22Q11.2 Deletion Syndrome at the American College of Neuropsychopharmacology Annual Meeting. This could indicate progress in their research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:09 pm

VNRX

VolitionRx Limited (NYSE:VNRX) has received approximately $5.5 million in financing from Wallonie Entreprendre S.A. in Belgium. The funds will support the development of Volition's Nu.Q® product portfolio, particularly the clinical and regulatory program for Nu.Q® NETs aimed at early disease diagnosis such as sepsis. The financing includes a Euro 2.5 million unsecured loan and a private placement of shares. The loan has an 8% interest rate and matures on December 31, 2028, with tranche availability until June 30, 2025.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:05 pm

NEO

NeoGenomics, Inc. (NASDAQ:NEO) will present new data on its RaDaR assay for minimal residual disease (MRD) at the San Antonio Breast Cancer Symposium. The data includes an updated analysis of the TRACER study, which evaluates the use of RaDaR in early-stage breast cancer for therapy response monitoring and post-operative recurrence. The company also announced the receipt of the first samples from the SURVIVE clinical trial, which uses RaDaR for recurrence monitoring. RaDaR is a highly sensitive, tumor-informed assay that has received Breakthrough Device Designation by the US FDA and the CE mark.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:05 pm

HSCS

HeartSciences has received confirmation from the FDA to change the clearance pathway for its MyoVista wavECG Device and associated AI-ECG Algorithm from a De Novo process to a 510(k) submission. This regulatory shift could potentially streamline the approval process for the company's cardiac diagnostic technology.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 1:01 pm

EXP

Eagle Materials Inc. has secured exclusive agreements with Terra CO2 to produce low-carbon supplementary cementitious material (SCM) using Terra's technology. The deal covers the potential establishment of commercial-scale plants in three geographic areas, including the Greater Denver market, with each plant potentially producing around 240,000 tons of SCM annually.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 12:47 pm