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NVS

Novartis has dropped some early-stage cancer drugs from its pipeline due to Medicare's new ability to negotiate certain drug prices starting in 2026, according to CEO Vas Narasimhan. The Inflation Reduction Act allows Medicare to negotiate prices for small-molecule drugs nine years after FDA approval, which Narasimhan argues truncates the normal protection period and changes the economics of drug development.

Portfolio Pulse from Benzinga Newsdesk

May 19, 2023 | 4:19 pm

CADL

Candel Therapeutics announced new data from an ongoing phase 1 trial of its CAN-3110 viral immunotherapy candidate for high-grade glioma. The treatment was well tolerated and showed encouraging responses in patients. CADL shares are down 7.38% at $1.58.

Portfolio Pulse from Vandana Singh

May 19, 2023 | 3:51 pm

ORTX

Orchard Therapeutics (ORTX) announced multiple clinical and preclinical updates on its hematopoietic stem cell gene therapies in neurometabolic and neurodegenerative disorders. The data were presented at the American Society of Gene and Cell Therapy Annual Meeting, showcasing positive results for OTL-203, OTL-201, and OTL-204.

Portfolio Pulse from Vandana Singh

May 19, 2023 | 3:48 pm

AZYO

MDT

Aziyo Biologics Inc (NASDAQ:AZYO) announced that data from the HEAL Study will be presented at the Heart Rhythm Society, comparing the performance of its CanGaroo Envelope with Medtronic Plc's (NYSE:MDT) Tyrx non-biologic envelope and no envelope in patients receiving cardiac implantable electronic devices. The CanGaroo Envelope showed better results in several aspects, and AZYO shares are up 4.72% at $2.22.

Portfolio Pulse from Vandana Singh

May 19, 2023 | 3:45 pm

VERU

Veru has terminated the clinical trial of VERU-100 for the treatment of advanced prostate cancer as the endpoints were not achieved at the current dose level.

Portfolio Pulse from Benzinga Newsdesk

May 19, 2023 | 3:42 pm

TSHA

Taysha Gene Therapies presented encouraging preclinical data from neonatal mouse models on TSHA-102 for Rett syndrome at the ASGCT 26th Annual Meeting. The data showed no harmful impact on survival, neurobehavioral functions, and overall health in wild-type mice, and significant improvements in Mecp2–/Y knockout mice.

Portfolio Pulse from Vandana Singh

May 19, 2023 | 3:06 pm

TSLA

A man in New York is suing Tesla, claiming that one of their vehicles suddenly and automatically accelerated, causing him to crash it to avoid hitting people. This comes after Tesla recalled over a million cars in China last week due to issues with their regenerative braking system.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 3:05 pm

BNTX

MRNA

NVAX

PFE

The World Health Organization recommends updating COVID booster shots to target the dominant XBB strains for the upcoming winter season. Pfizer, BioNTech, Moderna, and Novavax are already developing vaccines targeting these strains.

Portfolio Pulse from Vandana Singh

May 19, 2023 | 3:04 pm

BA

LMT

NASA has awarded a contract to a Blue Origin-led team, which includes Lockheed Martin and Boeing, to build an astronaut moon lander. This collaboration aims to advance NASA's Artemis program, which plans to land astronauts on the moon by 2024.

Portfolio Pulse from Happy Mohamed

May 19, 2023 | 2:44 pm

META

NVDA

TSM

Meta Platforms shares traded lower after showcasing its AI chips, supercomputer, and new data center. The company's efforts will enable it to develop more sophisticated AI models and deploy them efficiently at scale. Meta's MTIA technology, produced by Taiwan Semiconductor Manufacturing Company, will deliver better performance and efficiency. The new hardware will power metaverse-related tasks and generative AI.

Portfolio Pulse from Anusuya Lahiri

May 19, 2023 | 2:38 pm