Streetbeat News

Regulatory

ACHR

Archer Aviation Inc. (NYSE:ACHR) has announced strategic hires and the opening of a new office in Washington D.C. to bolster its government relations efforts as it prepares for the commercial launch of its electric vertical takeoff and landing (eVTOL) aircraft. The team, led by former FAA Chief Billy Nolen, includes key policy and regulatory affairs leaders. The new office is located near FAA and DOT headquarters and will showcase Archer's eVTOL technology to policymakers. This move is part of Archer's proactive approach to efficiently progress through the U.S. regulatory process.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:38 pm

MBRX

The European Medicines Agency has granted Orphan Drug Designation to Moleculin's treatment for Acute Myeloid Leukemia, potentially accelerating its development and approval process in Europe.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:36 pm

NRXP

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) has regained compliance with Nasdaq's bid price requirement, ensuring its continued listing. The company anticipates reaching four key milestones, including data releases from trials in Suicidal Bipolar Depression and Chronic Pain, an NDA filing for IV Ketamine, and a distribution of HOPE Therapeutics shares to shareholders. Recent advancements in ketamine formulations and potential treatments for UTI/pyelonephritis could significantly enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:36 pm

RNXT

RenovoRx, identified by its ticker RNXT, has successfully regained compliance with Nasdaq's listing requirements. This development is crucial for the company's continued listing on the exchange and may positively influence investor confidence and the stock's market performance.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:35 pm

NRSN

NeuroSense presented data at the American Academy of Neurology Annual Meeting, validating the Phase 2b topline readout. The presentation, given by Merit Cudkowicz of Massachusetts General, highlighted positive clinical effects and a trend toward impact on Neurofilament biomarker levels.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:34 pm

GBTC

IBIT

Bitcoin and Ethereum have rebounded above $62,000 and $3,000 respectively, despite $165M in ETF outflows and hawkish comments from Federal Reserve Chair Jerome Powell. Grayscale's Bitcoin Investment Trust (GBTC) saw a $133M outflow, while BlackRock's iShares Bitcoin Trust (IBIT) experienced a $18.09M inflow. Market analysts suggest potential for short-term consolidation and highlight alternative investment strategies amid the current market climate.

Portfolio Pulse from Murtuza Merchant

April 18, 2024 | 12:33 pm

ABBV

AbbVie announced positive results from the Phase 3 SELECT-GCA study of upadacitinib for treating giant cell arteritis (GCA), showing significant efficacy in achieving sustained remission compared to placebo. The study's safety profile was consistent with previous findings, with no new safety signals identified. Upadacitinib, if approved, could become the first oral treatment option for GCA, addressing a significant unmet medical need.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:32 pm

IMNN

The FDA has cleared IMUNON's IND application, allowing the company to begin human testing of its drug, IMNN-101.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:31 pm

BIVI

BioVie Inc. (NASDAQ:BIVI) announced its participation in the 12th Annual Alzheimer's & Parkinson's Drug Development Summit in Boston, where it will present data on NE3107, a drug candidate for neurological disorders. The presentations will detail NE3107's impact on DNA methylation related to aging and its potential in treating Alzheimer's and Parkinson's diseases. The USAN Council and WHO have approved 'bezisterim' as the generic name for NE3107.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:09 pm

FEPI

MU

PSI

Micron Technology Inc (NASDAQ:MU) is set to receive $6.1 billion in grants from the U.S. Commerce Department for its domestic semiconductor production expansion, aligning with the national strategy to boost American chip manufacturing. The funding, part of a broader package including loans, supports Micron's construction of up to five new factories in New York and Idaho. This move, highlighting Micron's focus on high-bandwidth memory (HBM) and its leadership in the HBM3E sector, is expected to significantly enhance its gross margins. Micron's stock has seen an 88% increase over the last 12 months, with options for investors to gain exposure through REX FANG & Innovation Equity Premium Income ETF (NASDAQ:FEPI) and Invesco Semiconductors ETF (NYSE:PSI).

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 11:53 am