Streetbeat News

Regulatory

SCLX

Scilex Holding Company (NASDAQ:SCLX) has informed its stockholders about manipulative and naked short selling of its common stock. Management believes there are around 10 million shares sold short and more than 10 million Dividend Shares sold as 'naked short' positions since January 2023, which have not been covered. Additionally, there are substantial 'naked short' positions in approximately 44 million shares, based on voting data from Broadridge Financial Solutions, Inc. This situation may constitute a violation of Regulation SHO due to the failure of brokerage firms to deliver Dividend Shares for about 15 months.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:08 pm

NVDA

Chinese regulators have instructed local technology companies to reduce their purchases of NVIDIA chips, according to a report from The Information. This move could potentially impact NVIDIA's sales and market presence in China, one of the largest markets for semiconductor products.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 1:03 pm

OTLK

Outlook Therapeutics has submitted a Marketing Authorization Application for ONS-5010, aimed at treating Wet Age-Related Macular Degeneration (Wet AMD), to the UK's Medicines and Healthcare products Regulatory Agency (MHRA).

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:51 pm

BAX

The FDA has approved Baxter's Clinolipid for neonatal and pediatric use, expanding its indication from adults to include preterm neonates. This approval highlights Baxter's ongoing commitment to addressing the nutritional needs of a broader patient demographic.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:47 pm

RNAZ

TransCode Therapeutics has issued an open letter to shareholders regarding a proposed reverse stock split to maintain its Nasdaq listing. The company's stock failed to meet the Nasdaq's Minimum Bid Requirement by not closing at $1.00 or more for any ten-day period ended May 6. Nasdaq has recommended delisting, but TransCode plans to appeal this decision at a Nasdaq Panel Hearing. The reverse split is considered a last resort to remain listed, and the company's stock has recently closed above $1.00 for four consecutive days.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:41 pm

GHM

Graham Corporation (GHM) has filed a universal shelf registration statement with the SEC, allowing it to potentially offer and sell up to $150 million of various securities, including common stock, preferred stock, warrants, purchase contracts, and units. This move could provide GHM with significant financial flexibility for future operations and growth initiatives in its mission-critical fluid, power, heat transfer, and vacuum technologies sectors.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:32 pm

MRUS

Merus N.V. announced that its drug, petosemtamab, received Breakthrough Therapy Designation from the FDA for treating recurrent or metastatic head and neck squamous cell carcinoma in patients who have previously undergone platinum-based chemotherapy and anti-PD-1 or PD-L1 therapy.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:23 pm

MRUS

The FDA has granted Merus (MRUS) Breakthrough Therapy Designation for Petosemtamab, aimed at treating patients with recurrent or metastatic head and neck squamous cell carcinoma. This designation is expected to expedite the development and review process of Petosemtamab, potentially bringing it to patients sooner.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:21 pm

INAB

IN8bio (NASDAQ:INAB), a clinical-stage biopharmaceutical company, showcased its gamma-delta T cell therapy manufacturing platform at the ASGCT 2024 Annual Meeting. The company presented data demonstrating the reproducibility and robustness of its clinical-scale manufacturing process across different donor populations. This process results in investigational products with enhanced markers of potency and effector functions, marking a significant advancement in gamma-delta T cell-based therapies.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:19 pm

BTCUSD

DOGEUSD

ETHUSD

SOLUSD

Crypto analyst Alex Kuptsikevich warns that Bitcoin falling below $60,000 could trigger widespread panic selling due to a series of lower lows and highs, miner sell-offs, and fears of tighter regulation. A rise above $65,000 could signal a positive turn. Ethereum, Solana, and Dogecoin saw increases following Bitcoin's brief surge past $63,000. The market faces pressure from falling consumer sentiment, economist forecast misses, and upcoming token unlocks.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 12:17 pm