Streetbeat News

Regulatory

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares have been declining, with the company alleging naked short selling and advising shareholders to hold shares in cash accounts to prevent lending for short selling. The company has also recommended moving shares to a Direct Registration account to further protect against short selling. DJT shares dropped 8.73% to $32.40.

Portfolio Pulse from Nabaparna Bhattacharya

April 23, 2024 | 4:14 pm

VAXX

Vaxxinity Inc (NASDAQ:VAXX) shares dropped 10% to $0.24 due to volatility following the announcement of its voluntary delisting and deregistration from Nasdaq. The decision was made to address non-compliance with the minimum bid price requirement and to focus on R&D without the distraction of stock price fluctuations. Delisting is scheduled for around May 9, with plans to move to over-the-counter trading.

Portfolio Pulse from Henry Khederian

April 23, 2024 | 4:12 pm

FXI

META

ORCL

PINS

SPY

VGK

Bytedance has submitted a risk-assessment report for TikTok Lite to the EU, complying with a 24-hour demand from the EU for the document. This action is part of the ongoing scrutiny of tech companies by European regulators.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 3:53 pm

CPRI

TPR

The FTC has filed a lawsuit to block the $8.5 billion merger between luxury handbag manufacturers Tapestry Inc. (TPR) and Capri Holdings Ltd. (CPRI), arguing it would eliminate competition and impact consumer benefits. Despite receiving regulatory clearance in the EU and Japan, the FTC's challenge raises concerns over antitrust approval in the U.S. The merger aims to combine brands like Coach, Kate Spade, and Versace, potentially making the entity the fourth largest globally in luxury accessories.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 2:59 pm

SPY

VGK

The U.S. is reportedly preparing a $1 billion weapons package for Ukraine, pending the passage of an aid bill, according to Reuters citing two U.S. officials. This development is part of the ongoing support from the U.S. to Ukraine amidst its conflict.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 2:44 pm

BGNE

BeiGene's stock is trading higher following the European Commission's approval of Tislelizumab for non-small cell lung cancer, covering first- and second-line use across three indications.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 2:40 pm

INNPF

Innocan Pharma Corporation has initiated the FDA approval process for its Liposome-Cannabidiol (LPT-CBD) injectable treatment for chronic pain by submitting a Pre-IND meeting letter. The company's LPT-CBD technology, which has shown efficacy in pre-clinical trials, represents a significant step towards offering a non-opioid alternative for pain management. With the opioid crisis escalating, Innocan's therapy could provide a safer option for patients, tapping into a market expected to exceed $100 billion by 2032.

Portfolio Pulse from Jelena Martinovic

April 23, 2024 | 2:24 pm

IBRX

The FDA approved ImmunityBio Inc's Anktiva for BCG-unresponsive non-muscle invasive bladder cancer, marking a significant advancement in immunotherapy. The approval follows a previous FDA complete response letter and is based on promising clinical results, including a 62% complete response rate. Anktiva, a first-in-class IL-15 agonist, is expected to be available in the U.S. by mid-May 2024. Following the announcement, IBRX shares rose by 4.65% to $5.17.

Portfolio Pulse from Vandana Singh

April 23, 2024 | 1:54 pm

ABEO

The FDA issued a Complete Response Letter (CRL) to Abeona Therapeutics Inc (NASDAQ:ABEO) for its Biologics License Application (BLA) for prademagene zamikeracel (pz-cel), a treatment for recessive dystrophic epidermolysis bullosa (RDEB). The CRL cited the need for additional Chemistry Manufacturing and Controls (CMC) information but did not identify deficiencies in clinical efficacy or safety. ABEO shares dropped 45.10% to $4.04 following the announcement.

Portfolio Pulse from Vandana Singh

April 23, 2024 | 1:43 pm

MMV

MultiMetaVerse Holdings has been notified by Nasdaq about not meeting the minimum bid price and minimum market value requirements for its listed securities. The company, referred to as MMV in the article, is now subject to potential delisting if it fails to regain compliance within the given timeframe.

Portfolio Pulse from Benzinga Newsdesk

April 23, 2024 | 1:24 pm