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SNN

Smith+Nephew (NYSE:SNN) announced the full commercial launch of its AETOS Shoulder System in the US, following FDA 510(k) clearance. This system, designed for both anatomic and reverse shoulder replacement, aims to restore range-of-motion and minimize arthritic pain. It features the Meta Stem for stability and bone preservation. The system is complemented by ATLASPLAN◊ 3D Planning Software and Patient Specific Instrumentation, developed in partnership with Materialise NV, for pre-operative planning. This launch is significant in the rapidly growing total shoulder arthroplasty market, expected to reach 250,000 procedures in the US by 2025.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:10 pm

JNJ

MGTX

MeiraGTx Holdings plc (MGTX) announced a $50M milestone payment from Janssen Pharmaceuticals (J&J) for initiating the LUMEOS extension study related to bota-vec for XLRP treatment. MGTX expects an additional $15M in milestone payments in 2024 and up to $285M upon first commercial sales in the U.S. and EU, plus revenue from a commercial supply agreement for bota-vec manufacturing with J&J.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:09 pm

CAMP

EGAN

WISA

The article highlights the top 3 oversold tech stocks in the information technology sector, suggesting they could be undervalued opportunities for investors. eGain Corporation (EGAN) reported better-than-expected Q2 financial results, boosting interest in its AssistGPT offering. WiSA Technologies, Inc. (WISA) announced a $10 million public offering, causing its stock to drop significantly. CalAmp Corp. (CAMP) reported disappointing quarterly sales, attributing it to soft demand in its TSP segment. All three companies have RSI values indicating they are oversold, potentially signaling a buying opportunity.

Portfolio Pulse from Avi Kapoor

February 13, 2024 | 1:09 pm

MSFT

Microsoft Corporation's AI upgrade, Copilot for Microsoft 365, faces skepticism from testers over its $30 per user price tag. Despite being built on OpenAI's ChatGPT technology and designed to enhance productivity in applications like Word, Outlook, and Teams, early feedback suggests it may not fully justify its cost. Microsoft has not released sign-up figures but claims high early demand. This development is part of Microsoft's broader AI strategy, which includes significant investments and the introduction of AI-powered products and subscriptions.

Portfolio Pulse from Benzinga Neuro

February 13, 2024 | 1:08 pm

MSFT

OpenAI's CEO, Sam Altman, proposed the UAE as a 'regulatory sandbox' for AI technologies at the World Governments Summit. He emphasized the need for global AI policy and highlighted the UAE's strategic position. Altman's discussions also aim to support a semiconductor initiative to advance AI technology. OpenAI plans to make some AI models public and develop tools for economically disadvantaged nations. OpenAI's revenue is $2 billion, expected to double by 2025. Microsoft invested $10 billion in OpenAI in 2023.

Portfolio Pulse from Anusuya Lahiri

February 13, 2024 | 1:08 pm

PHAT

Phathom Pharmaceuticals, Inc. (NASDAQ:PHAT) announced that its VOQUEZNA tablets for Erosive GERD and associated heartburn have been added to Express Scripts' national formularies for commercial plans, effective immediately. VOQUEZNA is the first FDA-approved potassium-competitive acid blocker and a new class of treatment for Erosive GERD in the U.S. in over 30 years. This inclusion is expected to provide access to approximately 60 million covered lives in the U.S. Phathom is also engaging with other major PBMs and health plans to expand coverage and offers co-pay assistance for eligible patients.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:07 pm

LCTX

Lineage Cell Therapeutics announced that the FDA has cleared an IND amendment for OPC1 cell transplant, aimed at treating spinal cord injury. This regulatory milestone could potentially accelerate the development and future commercialization of OPC1.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:06 pm

SVRE

SaverOne 2014 Ltd. (NASDAQ:SVRE) has been granted a new U.S. patent, #11,890,015 B2, for a system to prevent driver distraction by controlling cellular phone use. This is the 10th patent granted out of a portfolio of 23, aimed at reducing accidents and enhancing driver safety. The patent covers advanced algorithms and a selective blocking mechanism. SaverOne's global patent strategy includes filings in key markets such as the US, China, Israel, the UK, and the EU.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:04 pm

NNOX

Nanox, known by its ticker NNOX, has received FDA clearance for its HealthFLD system, marking a significant milestone for the company. This approval could potentially open up new markets and increase the company's revenue streams, as it allows them to commercialize their HealthFLD system in the United States.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:03 pm

TBLT

ToughBuilt Industries, Inc. (NASDAQ:TBLT) aims for positive operating cash flow by Q3 2024 through new product sales, cost-saving measures, and price adjustments. The company is focusing on streamlining operations, exploring market expansion, and partnering with global retailers. CEO Michael Panosian highlighted growth in revenue, gross margins, and SG&A expense management as key factors.

Portfolio Pulse from Benzinga Newsdesk

February 13, 2024 | 1:02 pm