Streetbeat News

Regulatory

DSP

Viant Technology Inc has filed for a mixed shelf offering with the SEC, allowing it to issue up to $100 million in securities. This move could provide the company with financial flexibility for future growth, acquisitions, or debt management.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 8:08 pm

IVVD

Invivyd's stock price increased following the FDA's emergency use authorization for PEMGARDA, a pre-exposure prophylaxis for COVID-19. Additionally, the company shared interim exploratory data from its CANOPY clinical trial on VYD222.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:56 pm

QCOM

Qualcomm has ended its attempt to acquire AutoTalks, a move that was halted due to the inability to obtain regulatory approval, as reported by Reuters citing a statement from the company.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:42 pm

COIN

SEC Chair Gary Gensler emphasized the need for transparency and regulatory compliance in the cryptocurrency sector, highlighting the lack of registration and mandatory disclosure among crypto securities markets. He pointed out that crypto markets require regulatory clarity and oversight, advocating for cryptocurrency exchanges and related firms to register with the SEC. Legal actions have been taken against platforms like Coinbase Inc. (NASDAQ:COIN) for operating without necessary registration. Gensler also stressed the importance of disclosures on executive compensation, climate change, and cyber threats.

Portfolio Pulse from Murtuza Merchant

March 22, 2024 | 7:19 pm

ESPR

Esperion Therapeutics Inc announced that the determination for its European cardiovascular risk reduction label is expected in Q2 2024. This development could significantly impact the company's market positioning and future revenue streams in Europe.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:13 pm

GOOG

GOOGL

RDDT

Reddit Inc (NYSE:RDDT) saw its shares surge in their debut, amidst discussions on monetizing its user base by licensing data to AI firms, including a $60 million deal with Alphabet Inc (NASDAQ:GOOG)(NASDAQ:GOOGL). This move, aimed at revenue growth, raises concerns about user privacy and the impact on user engagement. Analysts predict significant revenue growth for Reddit, while the FTC shows interest in the Google deal. Reddit's IPO was successful, with shares closing up 48% on the first day.

Portfolio Pulse from Chris Katje

March 22, 2024 | 7:12 pm

ESPR

The FDA has approved new label expansions for Esperion's NEXLETOL and NEXLIZET, allowing their use in both primary and secondary prevention of cardiovascular events, regardless of statin use. This approval, based on the CLEAR Outcomes trial, significantly increases the treatable population to around 70 million patients in the U.S. Esperion anticipates a positive impact on sales and has prepared by expanding its sales force and promotional efforts. The company also expects a final determination on label expansions in Europe in Q2 2024.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:12 pm

IVVD

Invivyd, Inc. (NASDAQ:IVVD) announced FDA emergency use authorization (EUA) for PEMGARDA (pemivibart) for pre-exposure prophylaxis of COVID-19 in certain adults and adolescents with moderate-to-severe immune compromise. This marks the first EUA for a monoclonal antibody (mAb) based on Invivyd's novel technology platform, aimed at addressing rapid viral evolution. The authorization is supported by positive data from the CANOPY clinical trial and ongoing in vitro activity against major SARS-CoV-2 variants. Product availability in the U.S. is expected imminently. Invivyd also reported having $200.6 million in cash and cash equivalents as of December 31, 2023, and raised an additional $40.5 million in February 2024 to strengthen its balance sheet ahead of the PEMGARDA launch.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:07 pm

GM

LCID

STLA

TSLA

President Joe Biden approved new EPA emissions standards requiring two-thirds of new vehicles to be EVs by 2032. General Motors (GM) and Stellantis (STLA) expressed support, aligning with their EV goals. The UAW union emphasized job protection during the transition. EV makers like Lucid Group (LCID) and Tesla (TSLA), through a fan's tweet endorsed by Elon Musk, showed enthusiasm for the new rule, highlighting the affordability of Tesla models with federal tax credits.

Portfolio Pulse from Neil Dennis

March 22, 2024 | 6:45 pm

ABBV

The FDA has approved Mirvetuximab Soravtansine-Gynx for the treatment of Frα positive, platinum-resistant epithelial ovarian, fallopian tube, or primary peritoneal cancer. This marks a significant advancement in the treatment options available for patients with these types of cancer.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 6:30 pm