Streetbeat News

Regulatory

IONS

Ionis Pharmaceuticals announced positive Phase 3 results for donidalorsen in treating hereditary angioedema (HAE). The drug showed significant reductions in HAE attack rates and was well-tolerated. Ionis plans to seek FDA approval, and analysts see strong growth potential for the company.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:25 pm

MRNA

Moderna shares are trading lower despite FDA approval of mRESVIA. The stock may be pulling back after strength in the past month.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 6:24 pm

AMD

ARM

AVGO

NVDA

QCOM

SMCI

SMH

SOXX

STX

TSM

WDC

The Biden Administration's new AI chip export restrictions to the Middle East have caused a selloff in the semiconductor sector. ETFs like VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX) are down nearly 3%. Key companies affected include Nvidia (NVDA), AMD, TSMC, Broadcom (AVGO), Qualcomm (QCOM), Micron (MU), Arm Holdings (ARM), and Super Micro Computer (SMCI). Despite the selloff, Mizuho analyst Vijay Rakesh reiterated Buy ratings on QCOM, MU, Western Digital (WDC), and Seagate Technology (STX), citing upcoming catalysts.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 6:21 pm

BMY

The FDA has expanded the approval of Bristol Myers Squibb's Breyanzi, a CAR T cell therapy, to include relapsed or refractory mantle cell lymphoma (MCL). This makes Breyanzi the CAR T cell therapy available for the broadest range of B-cell malignancies. The approval is based on positive results from the TRANSCEND NHL 001 trial.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:14 pm

NVS

Novartis AG (NYSE:NVS) has filed a lawsuit to block a Maryland law requiring drugmakers to offer discounts on drugs dispensed by third-party pharmacies contracting with hospitals and clinics serving low-income populations. The law, set to take effect on July 1, conflicts with the federal 340B drug discount program. Novartis argues that the law attempts to regulate interstate commerce outside of Maryland and complicates recordkeeping and transparency.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:12 pm

LLY

NVO

Novo Nordisk (NYSE:NVO) has filed lawsuits against nine additional U.S. clinics for selling fake semaglutide products, bringing the total to 21 lawsuits. Some products were found to be up to 33% impure. Eli Lilly (NYSE:LLY) has also taken legal action against clinics selling counterfeit tirzepatide products.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:08 pm

EIS

ISRA

SPY

USO

President Biden has expressed deep concern over the ongoing conflict, stating that Palestinians have endured significant suffering and that too many civilians have been killed. He emphasized that it is time for the war to end.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 5:43 pm

EIS

ISRA

SPY

USO

President Biden has affirmed that the U.S. will always ensure Israel has the resources needed for its defense. Egypt and Qatar are working to prevent Hamas from resuming military operations against Israel. Biden emphasized the importance of Hamas accepting the deal, despite potential differences that need to be resolved.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 5:40 pm

EIS

ISRA

SPY

USO

President Biden announced a comprehensive approach to enhance Israel's security, including efforts to resolve the Lebanon border issue and integrate Israel more into the region, potentially with Saudi Arabia. This initiative also aims to improve the future of self-determination for the Palestinian people.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 5:39 pm

EIS

ISRA

President Biden urges Israeli leadership to support a new deal despite internal opposition, warning of potential global isolation if the opportunity is missed.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 5:38 pm