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SOTK

Sono-Tek Corporation (NASDAQ:SOTK) has received a $2.19 million order from an existing clean energy customer, marking the largest order in the company's history. The order is for three production scale systems and is expected to be shipped in the first half of fiscal 2025. This follows an earlier order for one production scale system due to ship in the current fiscal year. The company expects additional orders from this customer and sees potential benefits from higher average selling prices for these systems.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:03 pm

MNMD

Mind Medicine (MindMed) Inc has entered into a license agreement with Catalent to access its proprietary Zydis orally disintegrating tablet (ODT) technology. The agreement grants MindMed exclusive rights to use the Zydis technology for the development of its lead product candidate MM-120 in the US, UK, and EU among other territories. MindMed is currently conducting a Phase 2b trial evaluating MM-120 for the treatment of generalized anxiety disorder with topline data expected in Q4 2023.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:02 pm

OSA

ProSomnus Inc (NASDAQ:OSA) reported Q2 revenues of $6.9 million, up 43% Y/Y and a sequential revenue increase of 19%, slightly beating the consensus of $6.4 million. The company reported an EPS loss of $(0.01), down from $(0.43) a year ago, beating the consensus of $(0.32). The company is completing the development of the next-generation precision OAT featuring embedded remote patient monitoring capabilities, with the first commercial use expected in Q4 of 2023.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:01 pm

IONS

NVS

Ionis Pharmaceuticals has partnered with Novartis to discover, develop, and commercialize a novel medicine for Lipoprotein(a)-driven cardiovascular disease. Ionis will receive a $60M upfront payment. This expands their existing collaboration on the development and commercialization of pelacarsen, which Novartis is currently evaluating in a Phase 3 cardiovascular outcome study.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:01 pm

BCRX

BioCryst Pharmaceuticals expects its FY23 revenue from Orladeyo to be no less than $320M, with operating expenses expected to remain flat to 2022 at approximately $375M. The company anticipates reductions in R&D spending in 2023 due to the discontinuation of the BCX9930 and BCX9250 programs in 2022 and the delay in the BCX10013 clinical program. However, this will be offset by increases in SG&A to support the U.S. launch and global expansion of Orladeyo.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:00 pm

ARAV

RHHBY

Aravive Inc's shares have plummeted after its Phase 3 AXLerate-OC trial for batiraxcept in platinum-resistant ovarian cancer failed to meet its primary endpoint. The trial showed no difference between the two arms in the overall population. The company will continue to evaluate the complete dataset and determine the next steps in developing batiraxcept. William Blair analysts have downgraded Aravive shares to a Market Perform rating due to a lack of significant upcoming clinical milestones and limited cash runway.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:00 pm

ORTX

Orchard Therapeutics has completed the rolling submission of its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for OTL-200.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:59 pm

MRK

The FDA has approved an expanded indication for Merck's Ervebo, to prevent the disease caused by Zaire Ebolavirus in individuals 12 months of age and older. The vaccine was previously approved for use in individuals above 18 years.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:53 pm

MRNA

Moderna anticipates its COVID-19 vaccine sales to range between $6 billion and $8 billion in 2023, contingent on US vaccination rates.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:50 pm

AUPH

Aurinia Pharmaceuticals has increased its 2023 revenue guidance range from $135M-$155M to $150M-$160M, due to net product sales of LUPKYNIS (voclosporin).

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 12:45 pm