Streetbeat News

Regulatory

SPY

The Biden Administration is developing a preliminary climate model for Sustainable Aviation Fuel (SAF) subsidies, which will be more restrictive for ethanol producers than anticipated. Ethanol will not automatically qualify as an SAF feedstock under this model unless it is produced from corn that utilizes one of three specific sustainable agriculture techniques. The model may be expanded later in the year.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 6:07 pm

BMY

TSVT

The FDA approved Bristol-Myers Squibb (BMY) and 2seventy Bio Inc's (TSVT) Abecma for earlier use in pretreated blood cancer patients, expanding its indication. The approval, based on the KarMMa-3 trial, shows Abecma extends progression-free survival in patients with relapsed or refractory multiple myeloma. The FDA also updated Abecma's boxed warning to include secondary cancer risks.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 5:37 pm

GLD

SPY

Fed's Bowman stated that the Federal Reserve is aware of gold's market movements but does not prioritize it over other commodities. This statement suggests a neutral stance towards gold in the Fed's monetary policy considerations.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 5:35 pm

SPY

Fed's Bowman emphasized the importance of continuing to reduce the size of the Federal Reserve's balance sheet, indicating that there is still significant progress to be made in this area.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 5:32 pm

TARA

Protara Therapeutics Inc (NASDAQ:TARA) shared interim data from its bladder cancer study, showing a 38% complete response rate in NMIBC patients. The company also announced a $45M equity raise through a private placement of shares and warrants. Additionally, Protara reached alignment with the FDA on a registrational path for IV Choline Chloride, planning a trial for FDA approval in the first half of 2025.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 4:57 pm

CVS

PRGO

WBA

CVS Health Corp announced its drug plans will cover the first over-the-counter birth control pill, Opill by Perrigo Company Plc, at no charge for many health plan sponsors, marking a significant step in reproductive healthcare accessibility. This follows CVS and Walgreens Boots Alliance Inc's decision to dispense the abortion pill mifepristone, aligning with FDA guidelines. The coverage by CVS Caremark aims to widen contraception access, especially for younger women and those in rural areas. Opill, approved by the FDA in July 2023 for all ages, is priced at $19.99 for a one-month supply.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 4:53 pm

VTRS

Theramex is reviewing the CMA's decision concerning its deal with Viatris (VTRS), focusing on addressing competition concerns. Despite the decision, Theramex commits to providing competitive HRT options for women and ensuring the supply of existing HRT products in the UK remains unaffected.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:53 pm

VRTS

Theramex is reviewing the CMA's decision on its deal with Viatris, focusing on addressing competition concerns. Despite the review, Theramex commits to providing competitive HRT options for the NHS and states the decision won't affect its current HRT product supply in the UK.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:51 pm

SPY

Fed's Bowman anticipates further reductions in inflation within a robust economy, albeit at a slower pace this year. She notes the job market's strength partially stems from part-time workers and immigration. Additionally, Bowman advocates for cautious consideration regarding the enhancement of bank capital regulations.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:40 pm

SPY

Fed's Bowman stated that it's not time for the U.S. Central Bank to consider cutting interest rates, asserting that the current policy is well-suited for the economy's state. However, she mentioned that rates could be cut 'eventually' if inflation continues to decrease, but warned that cutting rates too soon could risk a rebound in inflation pressures.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 4:39 pm