Streetbeat News

Regulatory

AAPL

SPOT

Spotify Technology SA (NYSE:SPOT) is escalating its legal battle against Apple Inc. (NASDAQ:AAPL) in the EU, following Apple's rejection of Spotify's app update that aimed to display in-app pricing information for EU users. This comes after the European Commission fined Apple $1.95 billion for anti-competitive practices. Apple introduced a new entitlement program with a 27% commission on external links for purchases, which Spotify attempted to bypass. The European Commission is considering a second investigation into Apple's policies.

Portfolio Pulse from Rounak Jain

May 09, 2024 | 12:49 pm

MBRX

Moleculin Biotech has received a notification from the U.S. Patent and Trademark Office for a patent titled, "Method of Reconstituting Liposomal Annamycin," which will provide composition protection through 2040, potentially extending further. Annamycin is moving towards a pivotal AML study in 2024 and may be eligible for an accelerated approval pathway.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:43 pm

VIVK

Vivakor, Inc. has successfully regained compliance with the Nasdaq's minimum bid price requirement, ensuring its continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:39 pm

MOVE

Movano Health has submitted updated pivotal clinical trial results and proof of enhanced medical device usability to the FDA as part of its 510(k) filing. An FDA clearance would significantly advance the company's position in the wearables industry and open up substantial partnership opportunities. A decision on the 510(k) clearance is expected in July 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:29 pm

OFIX

Orthofix Medical has received FDA 510(k) clearance for its Rodeo Telescopic Nail, a device designed for treating deformities or fractures in patients with osteogenesis imperfecta. This nail implant stabilizes limbs and elongates to accommodate growth in pediatric patients.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:23 pm

LUCD

PAVM

Lucid Diagnostics has announced a recall of its EsophaCap device following the publication of serious device failures. This recall could potentially impact the company's reputation and financial performance.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:23 pm

CANF

The FDA has granted Investigational New Drug (IND) clearance to Can-Fite Biopharma for Namodenoson, aimed at treating metabolic dysfunction-associated steatohepatitis (NASH), for its ongoing Phase 2B study. This clearance marks a significant milestone for Can-Fite Biopharma, allowing it to proceed with the study aimed at addressing a critical area of unmet medical need.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:22 pm

PIRS

Pieris Pharmaceuticals has received a notice from Nasdaq indicating that for the last 10 consecutive business days, its closing bid price was at $1 or greater. This suggests that the company is currently in compliance with Nasdaq's minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:15 pm

RIVN

TSLA

Rivian Automotive Inc (NASDAQ:RIVN) plans to open its EV charging network, the Rivian Adventure Network, to rival EV drivers this summer, following Tesla Inc.'s (NASDAQ:TSLA) move to open its Supercharger network to non-Tesla EVs, including Rivian. This strategy aims to turn the charging network into a profit center and meet requirements for government grants to expand fast chargers in the U.S. Rivian reported a Q1 revenue of $1.20 billion, surpassing estimates, but with a larger loss per share than expected. The company maintains high liquidity with $9.05 billion in total.

Portfolio Pulse from Anan Ashraf

May 09, 2024 | 12:05 pm

ONCY

Oncolytics Biotech has received regulatory approval to begin a study evaluating Pelareorep in combination with modified FOLFIRINOX and possibly an anti-PD-L1 inhibitor for treating pancreatic cancer. The first patient enrollment is anticipated in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:01 pm