Streetbeat News

Regulatory

GRTX

Galera Therapeutics has received a notice of allowance for its U.S. patent application 17/378,852, titled 'Pentaaza Macrocyclic Ring Complexes Possessing Oral Bioavailability,' aimed at reducing oral mucositis in head-and-neck cancer patients from chemoradiation.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:58 pm

SOFI

SoFi Technologies, Inc. (NASDAQ:SOFI) shares have risen over 10% in the past five days, despite a more than 20% decline year-to-date. This comes ahead of its Q1 earnings report on April 29, with expectations of 1 cent per share and $555.997 million in revenue. The stock's recovery follows a drop in student loan-related companies after President Biden announced a $7.4 billion student debt cancellation. SoFi does not pay dividends but may engage in buyback programs, a factor for investors considering the stock's value.

Portfolio Pulse from Erica Kollmann

April 26, 2024 | 7:54 pm

SPY

TUR

The visit of the Turkish President to the U.S. has been postponed due to scheduling conflicts, but high-level dialogue between Turkey and the U.S. will continue, as stated by the Turkish Foreign Ministry Spokesperson.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:48 pm

BTI

SPY

The White House has announced that there is no specific timeline for the decision regarding the ban on menthol cigarettes. This delay affects major tobacco companies and could have implications for market movements, particularly for those invested in tobacco stocks.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:30 pm

DOGEUSD

Swing trader Picolas Cage criticizes meme coins as harmful to the cryptocurrency ecosystem, labeling them as 'pure ponzi' schemes that exploit less informed investors. He contrasts this with Dogecoin's previous success, which he views differently due to its origins and impact. Cage argues that meme coins create an unfair market dynamic, divert attention from genuine innovation, and pose risks to uninformed investors.

Portfolio Pulse from Khyathi Dalal

April 26, 2024 | 7:28 pm

IBRX

ImmunityBio, Inc. (NASDAQ:IBRX) shares surged after announcing positive overall survival results in its QUILT 3.055 study for NSCLC patients. The trial showed median overall survival nearly double that of standard chemotherapy. Additionally, the FDA approved ImmunityBio's Anktiva plus BCG for NMIBC. Trading volume spiked, with over 26.6 million shares traded compared to the 100-day average of 4.774 million.

Portfolio Pulse from Erica Kollmann

April 26, 2024 | 7:26 pm

GOOG

GOOGL

Google has filed a motion for summary judgment in the U.S. adtech case led by the Justice Department, seeking a legal decision without a full trial.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 7:06 pm

BNTX

CVAC

GSK

PFE

Acuitas Therapeutics and CureVac NV settled a lawsuit over COVID-19 vaccine patent credits. Acuitas accused CureVac of omitting its scientists from patent applications for lipid nanoparticle technology. This settlement comes amid broader legal battles involving CureVac, Pfizer, BioNTech, and now GSK over mRNA vaccine patents. A German court recently invalidated a CureVac patent central to its case against BioNTech and Pfizer. GSK has also sued Pfizer and BioNTech for patent infringement.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:45 pm

BTI

SPY

The U.S. Health Secretary announced that the proposed rule to ban menthol cigarettes will require more time for implementation. This delay affects major tobacco companies and could impact their stock prices in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:38 pm

ALPN

VRTX

Vertex Pharmaceuticals Inc (VRTX) has seen significant success with its cystic fibrosis drug Trikafta, generating $26 billion in revenues since 2019 and expected to reach $10 billion in annual sales next year. The company is now focusing on developing non-opioid painkillers, with VX-548 in late-stage trials and potential FDA approval this year. Vertex also acquired Alpine Immune Sciences Inc (ALPN) for $4.9 billion to develop treatments for autoimmune kidney disease. Analysts predict Vertex's new pain medication could bring in $2.3 billion in annual sales by 2030.

Portfolio Pulse from Vandana Singh

April 26, 2024 | 6:34 pm