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S&P Global downgraded the outlooks of five US regional banks - First Commonwealth Financial, M&T Bank, Synovus Financial, Trustmark, and Valley National Bancorp - from stable to negative due to concerns over their exposure to commercial real estate loans. This action follows a trend of increasing scrutiny on the banking sector's stability, especially after New York Community Bancorp reported a loss attributed to bad CRE loans. The Federal Reserve Chair, Jerome Powell, also highlighted the risks associated with CRE loans to regional banks, indicating a potentially challenging future for the sector.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 1:21 am

MVLA

Movella has been notified by Nasdaq that its securities will be delisted, with the last trading day now expected to be on or about April 1, 2024, instead of the previously anticipated April 11, 2024. This follows the company's plan to file a Form 25 with the SEC.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 10:02 pm

MRK

The FDA has approved Merck's Winrevair for the treatment of adults with pulmonary arterial hypertension, marking a significant advancement in the treatment options available for this condition.

Portfolio Pulse from Charles Gross

March 26, 2024 | 9:03 pm

AMZN

GOOG

GOOGL

META

SNAP

The Federal Trade Commission (FTC) is reportedly investigating TikTok for potentially violating a 2019 agreement aimed at enhancing privacy protections and data security to address allegations of mishandling children's data. This scrutiny comes amid growing concerns over TikTok's data practices and its impact on users' privacy.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:33 pm

FXI

The Biden Administration, through the FTC, is considering legal action against TikTok over privacy and data security concerns, including allegations of misleading users about data access by individuals in China and violating children's privacy laws. This comes amid bipartisan criticism of TikTok's ties to China and national security concerns. The FTC's investigation could lead to a lawsuit or settlement, with potential financial penalties. This situation adds to the ongoing scrutiny TikTok faces globally, including previous settlements and investigations in Europe and Canada.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:32 pm

ZVRA

Zevra Therapeutics announced positive results from its Phase 2 clinical trial of KP1077 for treating idiopathic hypersomnia (IH), showing clinically meaningful benefits. The company intends to request an end-of-Phase 2 meeting with the FDA to discuss the Phase 3 trial design.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:32 pm

AKLI

Akili's shares are trading lower following the news that the company received a notice of allowance for U.S. Patent Application 17/890,478, which is focused on a cognitive platform for deriving an effort metric for optimizing cognitive treatment using data computed with artificial neural networks or deep learning techniques.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:31 pm

SNDX

Syndax Pharmaceuticals has announced that the FDA has granted priority review to its New Drug Application (NDA) for Revumenib, aimed at treating relapsed/refractory KMT2Ar acute leukemia. The Prescription Drug User Fee Act (PDUFA) action date is set for September 26, 2024. The NDA is being reviewed under the FDA's Real-Time Oncology Review (RTOR) program.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 8:09 pm

AKLI

Akili has received a notice of allowance for its U.S. patent application 17/890,478, titled "Cognitive Platform for Deriving Effort Metric for Optimizing Cognitive Treatment (Using Data Computed with Artificial Neural Network or Deep Learning Techniques)". This development marks a significant step forward in the use of AI and deep learning in cognitive treatment optimization.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 7:58 pm

MDXXF

NUMIF

OPTHF

PharmAla Biotech (MDXXF) and Numinus Wellness (NUMIF) have entered into a sales agreement for MDMA supply for clinical trials in Canada. Similarly, Optimi Health (OPTHF) has partnered with Tel Aviv University for MDMA research on addiction. These deals mark significant advancements in MDMA-assisted psychotherapy and addiction research, with potential impacts on mental health treatment practices.

Portfolio Pulse from Lara Goldstein

March 26, 2024 | 7:35 pm