Streetbeat News

Regulatory

MRAM

Everspin Technologies has applied for the CHIPS Incentives Program to expand its 200mm MRAM capacity and enhance long-term R&D IP capability.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 9:08 pm

CURO

The NYSE announced that CURO Group Holdings is out of compliance with the $15M average global market cap requirement, leading to the commencement of delisting proceedings and immediate suspension of trading for CURO Group.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:38 pm

NEXT

NextDecade Corporation (NASDAQ:NEXT) provided a Q4 2023 business update, focusing on the construction of Phase 1 at the Rio Grande LNG Facility and the expansion capacity to meet global LNG demand. The company is working with Bechtel on construction and has begun FEED and EPC contract processes for Train 4, aiming for a positive FID in H2 2024. Financially, NextDecade has secured loans and issued senior secured notes to support Phase 1 construction, with significant progress reported in project completion percentages for Trains 1, 2, and 3.

Portfolio Pulse from Happy Mohamed

March 11, 2024 | 8:36 pm

JNJ

Johnson & Johnson has submitted a Supplemental Biologics License Application to the FDA for the approval of TREMFYA (Guselkumab) for the treatment of adults with moderately to severely active ulcerative colitis.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:35 pm

MBIO

Mustang Bio reported a FY23 EPS of $(6.00), an improvement from $(10.09) YoY, alongside a significant decrease in cash and cash equivalents from $76.7 million to $7.0 million. The company made a $30.4 million payment to terminate existing debt and sold assets to uBriGene for $6 million upfront with a potential additional $5 million contingent payment. Research and development expenses decreased to $40.5 million from $62.5 million in 2022. Mustang Bio's lead clinical candidate, MB-106, showed a 100% overall response rate in Phase 1/2 clinical trials for certain hematologic malignancies. The FDA granted Orphan Drug Designation to MB-106 for WM treatment. Additionally, Mustang announced the FDA's acceptance of an IND for a Phase 1 trial of MB-109 for recurrent GBM and high-grade astrocytoma.

Portfolio Pulse from Happy Mohamed

March 11, 2024 | 8:24 pm

TERN

Terns Pharmaceuticals has received FDA Orphan Drug Designation for TERN-701, aimed at treating Chronic Myeloid Leukemia. TERN-701 is a BCR-ABL tyrosine kinase inhibitor currently in Phase 1 clinical trials, with interim results expected in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:06 pm

ABT

The FDA has announced that Abbott is recalling its Heartmate Touch Communication System (version 1.0.32) due to the risk of the device unexpectedly starting or stopping. This recall has been classified as a Class I recall, indicating a situation where there is a reasonable probability that the use of or exposure to the violative product will cause serious adverse health consequences or death. There have been 8 reported injuries associated with this issue, but no deaths have been reported.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 7:49 pm

BLK

BTCUSD

Mudrex introduced U.S. Bitcoin Spot ETFs to Indian investors, featuring ETFs from BlackRock Inc. (NYSE:BLK), Fidelity, Franklin Templeton, and Vanguard. This allows Indian investors to engage with Bitcoin through a regulated framework, with investments ranging from $5,000 to $250,000. Mudrex, licensed in Lithuania and Italy, adheres to regulatory frameworks in India and the EU.

Portfolio Pulse from Murtuza Merchant

March 11, 2024 | 7:45 pm

ETHUSD

The likelihood of an Ethereum ETF being approved by the SEC before a May deadline has significantly decreased, according to Bloomberg analysts Eric Balchunas and James Seyffart. Balchunas now estimates the chances at 35%, a sharp decline from previous optimistic projections. The analysts and Jake Chervinsky, Chief Legal Officer at Variant Fund, cite the absence of positive indicators, the SEC's general stance on cryptocurrency, and political pressures as reasons for their skepticism. Despite the reduced odds, there remains a possibility of approval, albeit slim.

Portfolio Pulse from Murtuza Merchant

March 11, 2024 | 6:33 pm

F

Ford Motor Company has agreed to pay a $365 million settlement to resolve U.S. Justice Department claims of customs civil penalties. The settlement addresses allegations that Ford misclassified and under-valued vehicles to avoid higher duties on cargo vans.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 6:28 pm