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Regulatory

DXYZ

META

Meta Platforms Inc.'s Chief AI Scientist, Yann LeCun, criticized OpenAI's early investor, Vinod Khosla, for supporting a closed-source approach to AI, motivated by financial gains and concerns over China's access to AI technology. LeCun advocates for open-source AI to ensure a diverse and democratic future. Meanwhile, Destiny Tech100 Inc. fund, which invests in tech companies including OpenAI, has seen a significant drop in value.

Portfolio Pulse from Rounak Jain

May 13, 2024 | 9:05 am

QGEN

The FDA has approved QIAGEN's QIAstat-Dx Respiratory Panel Plus for diagnosing upper respiratory infections, covering 21 viral and bacterial targets. This panel, previously authorized under an EUA, offers fast and accurate results using real-time PCR technology.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:22 am

REGN

SNY

The FDA has accepted a supplemental Biologics License Application (sBLA) for priority review of Dupixent (dupilumab), developed by Regeneron Pharmaceuticals and Sanofi, for treating adolescents aged 12-17 with inadequately controlled Chronic Rhinosinusitis with Nasal Polyposis (CRSwNP). If approved, Dupixent would be the first treatment indicated for this age group in the U.S., addressing a significant unmet medical need.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:00 am

VALN

Valneva announced positive Phase 3 data for its single-shot Chikungunya vaccine, VLA1553, in adolescents, showing a high, sustained immune response. The results are intended to support a potential label extension for use in this age group.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:53 am

CVX

HES

Senate Majority Leader Chuck Schumer has urged the FTC to reconsider the proposed $53 billion merger between Chevron Corp and Hess Corp, citing concerns over potential gas price increases. Schumer's call for scrutiny follows the FTC's request for additional information from both companies, as the merger could significantly impact consumer prices and market competition.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 6:40 am

ZLAB

Zai Lab (ZLAB) received approval from China's National Medical Products Administration for AUGTYRO (repotrectinib) for treating patients with ROS1-Positive NSCLC. The approval was based on the TRIDENT-1 trial, which showed high response rates and durable responses, including robust intracranial responses.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:30 am

BTCUSD

El Salvador has launched a platform to publicly display its Bitcoin treasury holdings, enhancing transparency. The country holds 5,748.76 Bitcoins, valued over $300 million. This move underscores El Salvador's commitment to Bitcoin, having adopted it as legal tender in 2021 and planning to buy one Bitcoin daily.

Portfolio Pulse from Aniket Verma

May 13, 2024 | 5:10 am

HAS

Elon Musk compared the Federal Reserve's operations to the bankruptcy rules of Hasbro's Monopoly game, suggesting similarities in how both handle a lack of funds. This comparison comes amid scrutiny of the Fed's monetary policies and concerns over national debt and inflation, potentially impacting the U.S. economy.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 3:52 am

GE

IWM

Representative Ro Khanna (D-Calif.) disclosed multiple stock trades while advocating for a ban on stock trading by Congress members. The trades include significant sales in iShares Russell 2000 ETF (IWM) and GE Aerospace (GE), raising questions about potential conflicts of interest. Khanna argues that his portfolio is managed by third-party advisors, likening it to an index fund, and emphasizes his support for the Trust Act to ban stock trading by Congress members.

Portfolio Pulse from Chris Katje

May 12, 2024 | 2:54 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) is set to release its Q4 earnings, amidst challenges from regulatory crackdowns, economic downturns, and competition. The company's market cap has significantly dropped from its peak in October 2022. Efforts to revitalize the company included restructuring into six businesses and leadership changes, with a recent focus on generative AI technology. Analysts expect Q4 earnings of $1.41 per share on $30.42 billion in revenue, compared to the previous year's $1.50 per share and $29.15 billion.

Portfolio Pulse from Shanthi Rexaline

May 12, 2024 | 1:51 pm