Streetbeat News

Products Services

CLRB

Cellectar Biosciences, Inc. (NASDAQ:CLRB) has received Notice of Allowance for a patent on its Phospholipid Drug Conjugate (PDC) platform from patent authorities in Japan, China, Eurasia, Brazil, and Mexico. This follows previous allowances in the US, Europe, Australia, and Canada. The patent covers the composition and use of PDCs with flavaglines for targeted cancer therapy. The company plans to report pivotal data for its lead radioconjugate therapy in January 2024 and is working on expanding its pipeline of PDCs for high need cancers.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:35 pm

ADTX

EVFM

Aditxt, Inc. (NASDAQ:ADTX) has entered into a definitive agreement to acquire Evofem Biosciences, Inc. (OTCQB:EVFM) for approximately $100 million, consisting of common and preferred stock issuance and assumption of senior indebtedness. Evofem's Phexxi, a non-hormonal contraceptive gel, has seen $13.4 million in net sales for the first nine months of 2023. The acquisition aims to expand into the global non-hormonal birth control market, projected to grow to $52.2 billion by 2031. The transaction is expected to close in the first half of 2024, subject to stockholder approvals and other conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:34 pm

CADL

Candel Therapeutics' stock is up following the FDA Fast Track Designation for its pancreatic cancer treatment, CAN-2409.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:25 pm

BA

Boeing (BA) and Avolon have announced their intention for Avolon to purchase an additional 40 737-8 airplanes, expanding their 737 MAX portfolio. This order includes both 737-8 and 737-10 variants. The deal is contingent on approval from Bohai Leasing Co, Ltd, Avolon's main shareholder. The order will be added to Boeing's Orders and Deliveries website once finalized.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:24 pm

AGRX

Agile Therapeutics (NASDAQ:AGRX) commends efforts to strengthen the ACA's no-cost contraceptive coverage, which could benefit 49 million women. The House Committee on Oversight and Accountability's new report follows actions by the Biden Administration to improve access to contraception. Agile's product, Twirla, could see increased access if the Committee's recommendations are implemented. The report is a follow-up to findings of insurers and PBMs imposing exclusions or cost-sharing, with Vermont lawmakers pushing for enforcement of ACA requirements.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:24 pm

AVGO

CMCSA

GOOG

NVDA

Citigroup analyst Christopher Danely reinstated Broadcom Inc (NASDAQ:AVGO) with a Buy rating and a $1,100 price target, causing the stock to close higher by $95. Broadcom's stock reached its highest price in a year at $1,029.24. The positive sentiment is due to Broadcom's strong core business and the acquisition of VMware, enhancing its cloud offerings. Broadcom is also expanding into AI, working with companies like Google and Comcast, but not directly competing with Nvidia in GPUs for AI model training. Broadcom's AI infrastructure sales are expected to double from $4 billion in FY23 to $8 billion in FY24. The company reported solid earnings for its fiscal fourth quarter, exceeding expectations and increasing its dividend by 14% to $5.25 per share. However, quarterly sales of $9.29 billion missed the Street's estimate of $9.41 billion.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 1:22 pm

ZIMV

ZimVie Inc. (NASDAQ:ZIMV) has received FDA clearance for its Vital Spinal Fixation System to be used with Brainlab Spine & Trauma Navigation. This development is part of a cooperation agreement with Brainlab, aimed at integrating ZimVie's spinal systems with Brainlab's navigation technology. The first Vital sets are expected to launch in the U.S. in early 2024, and ZimVie plans to submit a 510(k) application for its Virage system next year.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:21 pm

SPEC

Spectaire Holdings Inc. (NASDAQ:SPEC) has announced a manufacturing financing agreement with Viva Capital Funding, LLC to support the mass production of its AireCore units. This agreement, along with the outsourcing of manufacturing to Columbia Tech, a subsidiary of Coghlin Companies, is expected to enable Spectaire to achieve positive free cash flow more quickly by reducing working capital needs and creating an asset-light production model. The AireCore units, which have begun shipping to customers, are priced at $2000 with an additional $1000 annual recurring revenue. The company's CFO and CEO believe this will help scale operations and address the growing market for emissions reduction technology.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:20 pm

GRFS

GigaGen, a subsidiary of Grifols, has received FDA clearance to begin a Phase 1 trial of its oncology drug candidate, GIGA-564, for the treatment of solid tumors.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:15 pm

LCFY

Locafy Limited (NASDAQ: LCFY), a SaaS company specializing in search engine marketing, announced its first subscription contract from a U.S.-based media publisher to improve online rankings for advertorials using Locafy's Keystone technology. This follows successful trials showing the technology's ability to rank advertorials on Page 1 of Google search results. The contract could lead to recurring revenue as Locafy works to expand its technology's use across the publisher's advertising agency clients. The market for Locafy's Article Accelerator is substantial and largely untapped, with potential growth as AI-generated content increases.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 1:13 pm