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OMER

Omeros Corp's shares have dropped by 47% following the company's announcement that its Phase 3 trial for narsoplimab, a treatment for IgA nephropathy, did not show significant improvement compared to a placebo. As a result, the company will not seek approval for narsoplimab in this indication and will discontinue the trial. The company plans to redirect funds to other programs, including OMS906.

Portfolio Pulse from Henry Khederian

October 16, 2023 | 12:53 pm

CRDO

Credo Technology Group Holding Ltd (NASDAQ:CRDO) has announced the sample availability of its HiWire Pluggable Patch Panel (HiWire P3). The HiWire P3 enables service providers and hyperscalers to decouple pluggable optics from core switching and routing hardware. The HiWire P3 is a single rack unit (1RU), 32 port QSFP-DD appliance that allows standard pluggable optics to directly connect to an AEC without the use of a switch chip. The HiWire P3 will be demonstrated at the Open Compute Global Summit and the SCTE CABLE-TEC Expo in October 2023.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:53 pm

OMER

Omeros Corporation announced the discontinuation of the ARTEMIS-IGAN trial due to its failure to reach statistical significance on the primary endpoint of reduction in proteinuria. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:53 pm

RAMP

LiveRamp (NYSE:RAMP) and Yahoo have announced an expanded partnership to scale addressability and enhance reach within the advertising ecosystem. The partnership will allow publishers using LiveRamp's Authenticated Traffic Solution (ATS) to leverage Yahoo's cookieless identity solution, Yahoo ConnectID. Brands using the Yahoo DSP can achieve greater reach through Yahoo ConnectID, which benefits from RampID and LiveRamp's ATS. The partnership is expected to increase monetization for publishers and provide marketers with increased reach of authenticated users.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:51 pm

MXL

MaxLinear, Inc. (NASDAQ:MXL) and Positron Access Solutions have partnered to accelerate broadband deployment with fiber speeds to the home. Positron has selected the MaxLinear G.hn chipset for use in its G.hn Access Multiplexers (GAM) products. The Positron GAM solutions extend fiber and fixed-wireless access Gigabit services to legacy properties over the existing coax or twisted pair wiring infrastructures at 20% of the cost of deploying fiber to the door. The solutions will be showcased at Network X in Paris, France, October 24 – 26.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:51 pm

TLRY

Tilray Medical, a division of Tilray Brands, Inc. (NASDAQ:TLRY) (TSX:TLRY), is contributing to a clinical trial researching the efficacy of medical cannabis as a treatment for glioblastoma, a severe form of brain cancer. The trial will be conducted in Spain and will recruit 30 patients from eight specialized neuro-oncology medical sites. Tilray Medical will provide the pharmaceutical-grade medical cannabis for the trial. The trial commenced on September 5, 2023.

Portfolio Pulse from Jelena Martinovic

October 16, 2023 | 12:51 pm

LIXT

LIXTE Biotechnology Holdings, Inc. (NASDAQ:LIXT) has announced an extension of its collaboration with the Netherlands Cancer Institute (NKI) and Oncode Institute to study drug synergies of LIXTE's lead clinical compound, LB-100, with immunotherapy in various cancers. The two-year extension follows a successful collaboration in identifying promising drugs to be combined with LB-100 for treating colon cancer.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:49 pm

AVGO

CLS

Celestica Inc. has launched its DS5000 high-performance 800GbE switch, designed to enhance data center and enterprise-class access deployments. The DS5000, which is based on the Broadcom StrataXGS Tomahawk 5 Ethernet switch chip, is optimized for AI/ML, Big Data Analytics, Hyperscale Data Centers, Cloud Computing, and High-Performance Computing. The company is seeking approval to release the DS5000 into the open source domain as the first Open Compute Project (OCP)-inspired commercial 800G Ethernet switch contribution to the OCP Networking group.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:49 pm

BNTX

CFRX

LQR

PCSA

PCTI

Several stocks are experiencing significant pre-market movements. LQR House Inc. shares surged 109% after delivering an inaugural order to Costco. Processa Pharmaceuticals, Inc. shares rose 84.4% following a 45% jump on Friday. PCTEL, Inc. shares climbed 47.4% after Amphenol Corp agreed to acquire PCTEL for around $139.7 million. ContraFect Corporation shares jumped 30% after the company reported FDA clearance of CF-370 IND application to proceed with Phase 1 clinical study. On the downside, BioNTech SE fell 6% after Pfizer, its partner, cut its COVID-19 vaccine and therapy sales outlook.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 12:47 pm

NXL

Nexalin Technology, Inc. (NASDAQ:NXL) announced the publication of a research article in Nature's Molecular Psychiatry, validating the ability of Nexalin's neurostimulation device to penetrate deep brain structures. The study revealed that Nexalin's non-invasive, deep frequency stimulation medical device can directly stimulate areas of the brain associated with trauma and mental health disease. The CEO of Nexalin Technology, Mark White, stated that the research results have significant scientific value and demonstrate Nexalin's leadership in the field of non-invasive neural stimulation.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 12:46 pm