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Regulatory

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) has advised its customers against using third-party adapters at Tesla superchargers, emphasizing the necessity of using Rivian-provided adapters. Rivian vehicles, equipped with a Combined Charging System (CCS) charge port, require an adapter to use Tesla's supercharger network, which uses the North American Charging Standard (NACS). Rivian plans to offer these adapters to its customers for free and will start incorporating Tesla's charging standard into its vehicles from 2025, eliminating the need for an adapter. Tesla's supercharger network, with over 15,000 stations, represents three-quarters of all fast chargers in North America.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 1:42 pm

CYCC

CYCCP

Cyclacel Pharmaceuticals announced it will present new data at the 2024 ASCO Annual Meeting on fadraciclib, a CDK2/9 inhibitor showing promise as a precision medicine for cancer. The CYC065-101 study data supports its development for solid tumors and lymphoma. Fadraciclib has shown activity in various cancers, and the ongoing Phase 1/2 trial is exploring its efficacy further.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:16 pm

OGEN

Oragenics, Inc. (OGEN) has filed its annual report, highlighting progress in diversifying its product development portfolio, particularly in neurological disorders treatment. Key achievements include acquiring a technology for treating neurological disorders, raising funds through public and private offerings, hiring a Chief Medical Officer, adding new Board members, creating an Australian subsidiary for R&D rebates, and preparing for a Phase II clinical trial. However, the report includes a going concern note.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:09 pm

MP

MP Materials (NYSE:MP) has been awarded a $58.5 million tax credit to support the construction of America's first fully-integrated rare earth magnet manufacturing facility. This initiative is part of a competitive process overseen by the Department of Energy, aimed at enhancing technical, commercial viability, and environmental impact. The facility will produce neodymium-iron-boron (NdFeB) magnets, crucial for various applications including electric vehicles and defense systems. MP Materials plans to start commercial production of precursor materials in Fort Worth by this summer and finished magnets by late 2025, with General Motors as a foundational customer. The raw materials will be sourced from MP's rare earth mine in Mountain Pass, California, ensuring an end-to-end supply chain with integrated recycling and sustainability.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 1:09 pm

BABA

GDX

JD

LI

NIO

China's March manufacturing activity surged to a 13-month high, with the Caixin China General Manufacturing PMI reaching 51.1, indicating expansion. This growth spurred rallies in Chinese company shares and metal commodities. However, concerns were raised about potential deflationary pressures and trade tensions due to increased production aimed at global markets. Chinese stocks listed in New York and the VanEck Gold Miners ETF saw premarket gains, while gold and copper prices also rose.

Portfolio Pulse from Piero Cingari

April 01, 2024 | 12:58 pm

LWLG

Lightwave Logic, Inc. (NASDAQ:LWLG) announced the issuance of a new patent for a diamondoid non-linear optical chromophore, enhancing the stability and performance of its proprietary electro-optic polymers. This advancement is expected to improve data transmission in datacenter applications, particularly to meet the growing demand from generative AI. The technology enables high-speed, low-power EO polymer modulators to operate at 200Gbps with 1V drive voltage levels, and is suitable for high-volume manufacturing in silicon foundries.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:40 pm

BLDP

Ballard Power Systems has been awarded $54M in investment tax credits by the IRS under the Qualifying Advanced Energy Project Tax Credit program. The company intends to use these credits to support the construction of a new fuel cell gigafactory in Rockwall, Texas.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:39 pm

NVX

NOVONIX Limited (NASDAQ:NVX) has been selected to receive a $103 million tax credit under the Qualifying Advanced Energy Project Allocation Program, supported by the U.S. Department of Energy. This tax credit aims to bolster the production of critical battery materials at NOVONIX's Riverside facility in Chattanooga, Tennessee. The credit is part of efforts to promote clean energy manufacturing, job creation, and U.S. domestic production of vital clean-energy products. NOVONIX's selection highlights its ongoing support from the U.S. government and marks a significant milestone in its financing strategy and commitment to innovation and sustainability in North America.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:30 pm

IRON

Disc Medicine, Inc. (NASDAQ:IRON) announced positive topline results from the Phase 2 AURORA study of bitopertin in Erythropoietic Protoporphyria (EPP) patients. The study met its primary endpoint, showing significant reductions in protoporphyrin IX (PPIX) levels and improvements in light tolerance and phototoxic reactions with pain, particularly at the 60 mg dose. However, some secondary endpoints did not achieve statistical significance due to a strong placebo response. The company plans further analysis and discussions with regulators to define future study endpoints.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:13 pm

ATNM

Actinium Pharmaceuticals, Inc. (ATNM) announced that the Phase 3 SIERRA trial results of Iomab-B for high-risk relapsed or refractory acute myeloid leukemia (r/r AML) patients with TP53 mutations have been accepted for oral presentation at the EBMT Annual Meeting. The trial showed Iomab-B significantly improved access to bone marrow transplants (BMT) and achieved durable Complete Remission (dCR) with high statistical significance, particularly in patients with TP53 mutations.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 12:09 pm