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NVO

Dr. Daniel Drucker discovered a hormone, GLP-1, which regulates blood sugar levels and suppresses appetite, leading to the development of diabetes drugs such as Novo Nordisk's Ozempic and Wegovy. The challenge was that GLP-1 quickly disappears from the human body, but a solution was found in the venom of the Gila monster, a venomous lizard. The venom contains a hormone, Exendin-4, which shares structural similarities with GLP-1 but does not break down quickly, making it an ideal candidate for a diabetes drug. This led to the development of Exenatide, the first approved treatment for Type 2 diabetes in 2005, and later, Ozempic.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 8:42 am

NDAQ

Nasdaq (NASDAQ:NDAQ) and Depósito Central de Valores (DCV) have extended their technology partnership, enabling DCV to issue and settle digitized securities. This move positions DCV as a pioneer in asset tokenization, providing its clients with a unified platform across all asset classes.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 8:20 am

FFNTF

4Front Ventures Corp. (OTCQX:FFNTF) is expanding its brand portfolio in Massachusetts with several product launches, including a new live resin line from Island Cannabis Co., a limited-edition summer lineup from Marmas Marmalade Bites, and Crystal Clear Cartridges and Disposable Vape Pens. These products will be available at 4Front’s Mission Dispensaries and partner dispensaries across Massachusetts. The company plans to bring these brands to more of its core markets like Illinois in the near future.

Portfolio Pulse from Nina Zdinjak

June 29, 2023 | 8:19 am

TSLA

The opening of Tesla's Gigafactory in Mexico, initially scheduled for the second half of 2024, has been delayed to the first quarter of 2025 due to logistical challenges. The plant, estimated to cost $10 billion and expected to employ around 7,000 workers, aims to replicate the efficient supply chain model established in Giga Shanghai.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 6:48 am

AMZN

CRM

GOOG

IBM

META

TWTR

Twitter's CEO Linda Yaccarino is planning to reshape the social media platform by introducing innovative strategies to win back advertisers and confront Meta Platforms Inc.'s new decentralized platform. Twitter plans to launch full-screen, sound-on video ads and is testing a new ad format. Yaccarino also plans to attract celebrities, political figures, and content creators to the platform to attract more advertising. She is also expected to invest in rebuilding Twitter’s advertising, sales and partnership team and is in discussions for a potential broader partnership with Google. Yaccarino also aims to renegotiate contracts with Amazon.com, Inc., Salesforce and IBM.

Portfolio Pulse from Ananya Gairola

June 29, 2023 | 6:29 am

BAC

JOBY

OSTK

TSLA

U.S. stocks traded mixed with Dow Jones dropping around 70 points and NASDAQ rising 0.27%. Micron Technology's stock rose 0.42% due to better-than-expected Q3 results. Joby Aviation's stock soared 40.22% after receiving a permit for flight testing of its first production prototype. Tesla's stock rose 2.41% after Volvo joined Tesla’s charging network. Bank of America's stock fell 0.60% despite passing the 2023 stress test conducted by the Federal Reserve. Overstock.com's stock rose 6.11% for reasons yet to be identified.

Portfolio Pulse from Benzinga Newsbot

June 29, 2023 | 12:49 am

LOBEF

Lobe Sciences Ltd. (OTCQB:LOBEF) has started its Phase 1 clinical study on proprietary psilocin analog L-130, aimed at treating Chronic Cluster Headaches (CCH). The study is being conducted in Jordan under the country’s FDA authority. The results of the study, expected to be completed in Q3 2021, will be used to determine L-130 dose levels for an upcoming Phase 2a study in CCH.

Portfolio Pulse from Lara Goldstein

June 28, 2023 | 10:27 pm

PARA

WBD

Portfolio Pulse from Chris Katje

June 28, 2023 | 10:11 pm

Micron Technology has announced that it expects 2024 to be a significant year for AI, memory, and storage, as revealed in a conference call.

Portfolio Pulse from Charles Gross

June 28, 2023 | 9:20 pm

AMZN

WMT

LeafLink and Leafgistics are partnering to streamline the cannabis supply chain, aiming to bring standardization to the industry. Leafgistics provides a centralized distribution solution, handling tasks such as scheduling, consolidation, and labeling. The partnership with LeafLink offers solutions for retailers and brands to streamline the ordering process and provide real-time visibility of inventory. The companies' executives, with backgrounds in supply chain technology at Amazon and Walmart, and reverse logistics for Macy’s and Foot Locker, see parallels between their past endeavors and the cannabis industry.

Portfolio Pulse from Nicolás Jose Rodriguez

June 28, 2023 | 9:12 pm