Streetbeat News

Regulatory

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

BCAL

CALB

Southern California Bancorp (BCAL) and California BanCorp (CALB) have received the necessary regulatory approvals from the Office of the Comptroller of the Currency and the Federal Reserve Bank of San Francisco for their merger. The merger, announced on January 30, 2024, is expected to close in the third quarter of 2024, pending shareholder approvals.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:17 pm

URGN

UroGen Pharma Ltd. announced its Q1 2024 financial results and provided updates on its product pipeline, including the ENVISION study for UGN-102 and long-term durability data for Jelmyto. The ENVISION data, to be discussed in a June 13, 2024 virtual event, is expected to support the completion of the NDA for UGN-102 in Q3 2024. Jelmyto showed continued growth with a 10% YoY increase in net sales. A new IND for UGN-103 has been accepted, indicating progress in UroGen's pipeline. The company anticipates UGN-102 could address a $3 billion market opportunity.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 12:16 pm

CRM

GOOGL

IYW

META

MSFT

XLK

The European Commission is set to charge Microsoft with antitrust allegations over its Teams software, escalating EU efforts to regulate tech giants. The charges, stemming from a 2020 complaint by Slack (now owned by Salesforce.com), accuse Microsoft of stifling competition. This marks an end to a decade-long truce between Microsoft and EU regulators. Microsoft's proposals to separate Teams globally failed to address EU concerns over market fairness. The company, along with Alphabet's Google and Meta Platforms, is under scrutiny for potentially breaching the Digital Markets Act. Microsoft's stock has risen 34% in the past year, with exposure available through ETFs like XLK and IYW.

Portfolio Pulse from Shivani Kumaresan

May 13, 2024 | 12:11 pm

AMZN

The National Highway Traffic Safety Administration (NHTSA) has initiated an investigation into Amazon's Zoox autonomous vehicles due to reports of sudden braking that led to collisions. This probe concerns about 500 Zoox vehicles following two incidents where the vehicles' Automated Driving System (ADS) caused abrupt braking, resulting in rear-end collisions with minor injuries. Amazon, which acquired Zoox for $1.3 billion in 2020, has been advancing its robotaxi testing, aiming to offer public rides later this year.

Portfolio Pulse from Anan Ashraf

May 13, 2024 | 11:31 am