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MYO

Myomo has announced that two German Social Court rulings have ordered health insurers BARMER and Mobil BKK to cover the costs for the MyoPro for two patients. This could potentially increase the accessibility of MyoPro in Germany.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:10 pm

AMGN

Amgen announced that the FDA Oncologic Drugs Advisory Committee (ODAC) will review data supporting the supplemental New Drug Application (sNDA) for full approval of LUMAKRAS (sotorasib) on October 5, 2023. LUMAKRAS received accelerated approval from the FDA on May 28, 2021, and the sNDA for full approval was accepted for standard review with a target action date of December 24, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 8:02 pm

MRTX

Mirati Therapeutics, Inc. (NASDAQ:MRTX) announced a presentation of two-year follow-up from a pooled analysis of the Phase 1/1b Cohort and Phase 2 Cohort A for the KRYSTAL-1 study evaluating adagrasib in patients with non-small cell lung cancer (NSCLC) harboring a KRASG12C mutation. The findings will be presented at the 2023 World Conference on Lung Cancer.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 8:00 pm

BPMC

COGT

Needham has increased the price target for Blueprint Medicines Corp (BPMC) from $65 to $66 with a Buy rating, based on a survey of physicians who expect the number of Ayvakit-treated ISM patients to grow 70% by 2024. Needham analysts also expect new physicians to start prescribing Ayvakit as Blueprint builds awareness. Regarding Cogent Biosciences Inc's (COGT) bezuclastinib, physicians expect it to gain a peak market share of 45% if it demonstrates comparable efficacy to Ayvakit but 53% if its efficacy proves superior.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 7:23 pm

SNAP

Snapchat, owned by Snap Inc. (SNAP), is expanding its operations into generative AI with a new feature called 'Dreams'. The move is expected to enhance user experience and engagement on the platform.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 7:13 pm

NVAX

Novavax, Inc. (NASDAQ:NVAX) shares are trading higher amid a new COVID wave and rising hospitalizations. The EG.5 variant is now the dominant strain in the U.S., and a new highly mutated strain known as BA.2.86 is being monitored. COVID tests and expected fall 2023 boosters appear to work for the new variants, but this could change if one of the strains becomes more widespread.

Portfolio Pulse from Ryan Gustafson

August 21, 2023 | 7:00 pm

EXEL

IPSEY

RHHBY

Exelixis Inc, Roche Holdings AG, and Ipsen announced that their Phase 3 CONTACT-02 pivotal trial evaluating Cabometyx in combination with Tecentriq has met one of the primary endpoints, showing a significant improvement in progression-free survival. The trial is for patients with metastatic castration-resistant prostate cancer. The estimated total U.S. market value is approximately $1.9 billion. Analysts from William Blair maintain the Outperform rating on Exelixis' stock.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 6:57 pm

MRNA

NKLA

NSSC

PANW

SLGG

TMBR

US stocks traded mixed with the Nasdaq Composite gaining around 1.5%. Palo Alto Networks (PANW) reported better-than-expected Q4 earnings and issued a strong billings outlook, causing its shares to rise by 15%. Timber Pharmaceuticals (TMBR) shares shot up 99% as it agreed to be acquired by LEO US Holding. Moderna (MRNA) shares were up 10% as preliminary clinical trial data confirmed its updated COVID-19 vaccine showed a significant boost in neutralizing antibodies. Super League Gaming (SLGG), Napco Security Technologies (NSSC), and Nikola Corporation (NKLA) shares fell by 47%, 47%, and 21% respectively.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 6:51 pm

CHDN

JMP Securities analyst Jordan Bender reiterated a Market Outperform rating on Churchill Downs Inc (CHDN) with a price target of $155. The company's pending $250 million acquisition, Exacta Systems, announced the first-ever electronic historical horse racing (HHR) table games through a partnership with Interblock. The analyst believes CHDN HHR revenue will drive robust growth, increasing at an attractive 46% CAGR through 2025. The addition of HHR tables could generate an incremental $300 million revenue, 10% above the analyst’s current 2025 estimate.

Portfolio Pulse from Shivani Kumaresan

August 21, 2023 | 6:38 pm

MRNA

PANW

SLGG

The article lists the stocks that gained and lost the most in Monday's mid-day session. Among the gainers were China SXT Pharmaceuticals, Timber Pharmaceuticals, and MediaCo Holding, while the losers included AgileThought, Napco Security Technologies, and Super League Gaming. The article also mentions that Palo Alto Networks rose after reporting better-than-expected Q4 earnings and a strong billings outlook, and that Moderna rose after announcing that preliminary clinical trial data confirmed its updated COVID-19 vaccine showed a significant boost in neutralizing antibodies against certain variants.

Portfolio Pulse from Lisa Levin

August 21, 2023 | 6:36 pm