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CWBHF

Charlotte's Web Holdings Inc (CWBHF) and AJNA BioSciences PBC, through their collaboration DeFloria LLC, have initiated the Phase 1 clinical trial of AJA001, a full-spectrum hemp botanical drug. The trial, which began in September, is the first human testing of the substance and aims to evaluate its safety, tolerability, and pharmacokinetics with about 64 participants in Brisbane, Australia. The successful initiation of the trial is seen as a critical milestone, and DeFloria plans to submit an Investigational New Drug application to the FDA for Phase 2 trials. CWBHF's stock was trading 5.95% higher at $0.2225 per share at the time of the report.

Portfolio Pulse from Patricio Liddle

December 13, 2023 | 4:23 pm

IART

JNJ

Integra LifeSciences Holdings Corporation (IART) has agreed to acquire Acclarent Inc. from Ethicon Inc, a Johnson & Johnson (JNJ) MedTech company, for $275 million in cash, with an additional $5 million contingent on regulatory milestones. Acclarent, specializing in ENT medical devices, will join Integra's Codman Specialty Surgical division, expanding its global market by approximately $1 billion. Acclarent's 2022 revenue was about $110 million with gross margins similar to Integra's average. The deal is expected to close by Q2 2024 and be accretive to Integra's long-range plan. IART shares dropped slightly by 0.49% to $40.72.

Portfolio Pulse from Vandana Singh

December 13, 2023 | 4:20 pm

CALM

Cal-Maine Foods' stock is experiencing heightened volatility after the company reported HPAI at its Kansas facility. Despite this, Stephens & Co upgraded their price target from $45 to $50.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:16 pm

NFLX

Netflix announced that by the end of the year, it will offer 86 games, with nearly 90 more in development. The company launched 40 games, including Grand Theft Auto Trilogy - The Definitive Edition, and debuted two internally developed games. Netflix is testing games on TV and computers in select countries and has updated its games row for personalized recommendations. Upcoming games for 2024 include Cozy Grove: Camp Spirit, FashionVerse, Game Dev Tycoon, and Sonic Mania Plus. Other titles like Braid, Anniversary Edition, and a game set in the Squid Game universe are also on the way.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:14 pm

TSLA

The Acting Administrator of the National Highway Traffic Safety Administration (NHTSA), Carlson, acknowledged Tesla's cooperation in agreeing to a recall related to its Autopilot system, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:03 pm

TRS

TriMas (NASDAQ:TRS) announced that its TriMas Packaging group is innovating in the packaging industry with new tethered cap designs. These designs are winning new business from global customers, including Coca-Cola and Granarolo. The new caps are sustainable, enhance consumer experience, and comply with the EU's Single-Use Plastics Directive. The 38mm sports drink cap for Coca-Cola is set to launch in mid-2024, and the lightweight cap for Granarolo's milk-based products is designed for easy use and recyclability.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:02 pm

CTSH

NOW

Cognizant (NASDAQ:CTSH) is set to acquire Thirdera, an Elite ServiceNow Partner, to enhance its digital transformation capabilities with ServiceNow and create one of the world's largest ServiceNow partners. The acquisition will add over 940 employees and a significant number of ServiceNow certifications to Cognizant's ServiceNow Business Group. Thirdera has a global presence and has been recognized with several ServiceNow awards. The deal is expected to close in January 2024, with financial details not disclosed. Cognizant and ServiceNow (NYSE:NOW) have been expanding their strategic partnership, aiming to build a $1 billion combined business focused on AI-driven automation.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 4:02 pm

DANOY

DEO

HSY

LRLCY

UL

Kahlil Lozoraitis, CEO of Weekenders Cannabis, applies a brand-centric leadership philosophy honed from his experience at major companies like Diageo PLC, L’Oréal SA, Danone SA, The Hershey Co, and Unilever PLC. Weekenders Cannabis, known for its sun-grown flower pre-rolls, operates in California and New York. Lozoraitis emphasizes the importance of persistence, managing uncertainty, and diversity in leadership. He advocates for more investment in minority entrepreneurs in the cannabis industry, noting that diverse teams yield superior results. Weekenders' collaboration with Gorilla RX on a community initiative in LA highlights his commitment to partnerships and sustainability.

Portfolio Pulse from Joana Scopel

December 13, 2023 | 3:58 pm

ZLAB

Zai Lab's stock is up following the inclusion of its drugs VYVGART, NUZYRA, and ZEJULA in China's 2023 National Reimbursement Drug List. This addition is likely to increase the accessibility and sales of these drugs in the Chinese market, potentially boosting Zai Lab's revenues.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 3:49 pm

CMG

Chipotle Mexican Grill Inc (NYSE:CMG) is investing in Greenfield Robotics and Nitricity through its $50 million Cultivate Next venture fund. Greenfield Robotics uses AI and robotics for sustainable farming, while Nitricity produces eco-friendly nitrogen fertilizer. The investments aim to enhance efficiency and reduce greenhouse gas emissions in Chipotle's supply chain.

Portfolio Pulse from Shivani Kumaresan

December 13, 2023 | 3:41 pm