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Spotify will introduce in-app purchases for audiobooks and subscription plans on iPhones in Europe starting March, leveraging the new Digital Markets Act (DMA) to avoid Apple's 30% App Store fee. This move comes after a prolonged legal battle with Apple over its App Store policies. Apple is challenging the DMA and facing a separate $1 billion lawsuit from app developers. Meta Platforms has criticized Apple's App Store policies, advocating for more competition and distribution options for developers.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:24 pm

GSK

Elegen and GSK have entered into a multi-year collaboration and licensing agreement. Elegen will provide GSK with its cell-free synthetic DNA production technology and receive up to $35 million in near-term financial and development support fees. The agreement includes upfront fees, purchase commitments of Elegen's ENFINIA DNA, and potential equity investment from GSK. Elegen is also eligible for near-term milestone payments for the development of new product features.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:21 pm

VLN

Valens Semiconductor (NYSE:VLN) introduced the VA700R Series, enhancing long vehicle sensor connectivity with 4Gbps bandwidth over 40 meters. The VA700R Series, including the VA7021R Serializer and VA7004R Deserializer, supports high-resolution cameras and ADAS applications. Demonstrations are available, with engineering samples expected in mid-2024. The technology addresses visibility challenges for long vehicles and has garnered significant interest, with a demonstration at Automotive World Japan.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:20 pm

PLUG

Plug Power Inc. (NASDAQ:PLUG) shares dropped over 5% in premarket trading on Wednesday after a 31% surge the previous day. The decline follows Truist Securities analyst Jordan Levy reiterating a Hold rating and halving the price target from $6 to $3, citing long-term visibility concerns and reducing FY25E revenues. Despite Plug Power announcing the start of operations at the largest U.S. liquid green hydrogen plant, the company faces challenges, including a significant year-over-year share price drop and supply issues in its hydrogen network.

Portfolio Pulse from Nabaparna Bhattacharya

January 24, 2024 | 1:19 pm

MRDB

MariaDB plc (NYSE:MRDB) has completed the spinoff of its geospatial business to CubeWerx, an independent company specializing in geospatial products and services. This move allows MariaDB to concentrate on its core product, the MariaDB Enterprise Server, while CubeWerx takes over the geospatial solution.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:18 pm

URGN

UroGen Pharma Ltd. has initiated the submission of a rolling New Drug Application (NDA) to the FDA for UGN-102, a treatment for low-grade, intermediate-risk non-muscle invasive bladder cancer. The company submitted the Chemistry, Manufacturing, and Controls (CMC) section and plans to complete the NDA in 2024, with a potential FDA decision by early 2025. UGN-102 utilizes UroGen's RTGel technology for sustained release and is currently in Phase 3 development.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:18 pm

STVN

Stevanato Group S.p.A. (NYSE:STVN) has launched the EZ-fill Kit and a non-GMP laboratory fill and finish service to support small batch drug development and commercialization. The EZ-fill Kit, part of Stevanato's ready-to-use platform, offers customizable solutions for injectables, which make up over 60% of drugs in development. The kit will be available in Q2 2024 and will be showcased at Pharmapack. The non-GMP service at the Technology Excellence Centers in the USA and Italy helps customers assess fill-and-finish process effects early on. These offerings aim to improve drug manufacturing standards and speed up market entry for new biopharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:17 pm

TFFP

TFF Pharmaceuticals is set to present data from its Phase 2 trial of Voriconazole Inhalation Powder, aimed at treating Invasive Pulmonary Aspergillosis, at the 11th Advances Against Aspergillosis & Mucormycosis Conference.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:17 pm

FCX

Freeport-McMoRan Inc. has projected its consolidated sales for 2024 to be around 4.1 billion pounds of copper, 2 million ounces of gold, and 85 million pounds of molybdenum. The first quarter of 2024 is expected to contribute 1 billion pounds of copper, 575 thousand ounces of gold, and 20 million pounds of molybdenum to these totals.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:14 pm

PRSO

Peraso Inc. (NASDAQ:PRSO) has received its first commercial order for the Perspectus mmWave antenna modules, designed to support the DUNE platform in dense urban environments. The order validates Peraso's concept and its ability to deliver affordable gigabit wireless to underserved markets. The PRM2144X module, with its 128 element phased array antenna, is tailored for dense urban areas and also benefits suburban and rural deployments. Peraso's technology aims to address broadband infrastructure challenges and expand internet access in congested networks using its license-free 60 GHz network solutions.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 1:13 pm