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Regulatory

TEVA

VNDA

The U.S. Supreme Court declined to hear Vanda Pharmaceuticals' appeal to revive patents for Hetlioz, a sleep-disorder drug, after they were declared invalid in a dispute with Teva and Apotex. The patents were invalidated by the U.S. Court of Appeals for the Federal Circuit, which upheld a decision based on the obviousness of the patents. Vanda's sales of Hetlioz exceeded $100 million in 2023. The decision allows Teva and Apotex to proceed with generic versions of the drug.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:05 pm

DJT

A New York judge approved the $175 million bond posted by former President Trump to appeal a $364 million judgment in a civil fraud case. The bond, underwritten by Knight Specialty Insurance Company, prevents asset seizure by NY Attorney General Letitia James while Trump appeals. The insurance company, not registered with NY's Department of Financial Services, agreed to new terms including exclusive control of the bond account and monthly statements ensuring sufficient funds.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:03 pm

TCNNF

Federal OSHA experts emphasized the need for safety strategies in the cannabis industry following the first occupational-related cannabis death in Massachusetts. Trulieve (OTCQX:TCNNF) faced a lawsuit after an employee died from asthma exacerbated by workplace exposure. OSHA's webinar highlighted the importance of industry involvement in training and reporting symptoms of occupational allergy. Despite cannabis being federally illegal, OSHA standards still apply to employers in the industry, stressing the need for marking hazardous chemicals and establishing robust health and safety standards.

Portfolio Pulse from Nina Zdinjak

April 22, 2024 | 3:59 pm

AA

Alcoa Corp (NYSE:AA) reported first-quarter results with a slight revenue beat and is making progress in cost-saving measures. Morgan Stanley upgraded Alcoa's rating from Underweight to Equal-Weight and raised the price target from $28.50 to $36.50, citing solid progress in operational concerns and potential benefits from the Inflation Reduction Act. Shares of Alcoa rose by 0.25% to $35.61.

Portfolio Pulse from Priya Nigam

April 22, 2024 | 3:49 pm

SPY

XLV

The Biden-Harris Administration has issued a new rule aimed at supporting reproductive health care privacy under HIPAA, as announced by the Department of Health & Human Services. This regulatory change is designed to enhance the confidentiality and protection of individuals seeking reproductive health services.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:34 pm

INTC

The U.S. Department of Defense has selected Intel Foundry for Phase Three of the RAMP-C program, enabling defense and commercial customers to manufacture product prototypes using Intel's 18A process technology. This phase signifies a critical milestone in advancing U.S. leadership in semiconductor technology and manufacturing. Intel's selection for Phase Three follows their successful completion of the first two phases, establishing a foundation for their foundry business and expanding customer engagement.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:08 pm

USO

VGK

EU foreign ministers have agreed to expand sanctions on Iran, initially targeting drones, to now include missiles and their transfer to proxies, as stated by EU top diplomat Borrell.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:04 pm

MNTS

Momentus shares are trading higher despite the company receiving a Nasdaq deficiency notification for its delayed Form 10-K filing.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:56 pm

SLNA

Selina Hospitality's shares are trading lower following the announcement of a delisting notice from Nasdaq. The company intends to request a hearing.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:47 pm

WRNT

Warrantee's stock price has declined following the announcement of a Nasdaq delisting determination. The company plans to appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:29 pm