Streetbeat News

Regulatory

NVO

Novo Nordisk A/S announced that its diabetes medicine, Ozempic, significantly reduces the risk of kidney disease progression in type 2 diabetes and chronic kidney disease patients, according to the FLOW study results. The trial, which compared semaglutide 1.0 mg with placebo, achieved its primary endpoint, showing a 24% reduction in kidney disease progression, major adverse cardiovascular events, and death. Novo Nordisk plans to seek regulatory approvals for Ozempic's label expansion in the U.S. and EU in 2024. However, NVO shares dropped 1.79% in premarket trading.

Portfolio Pulse from Vandana Singh

March 05, 2024 | 12:41 pm

ALNY

RHHBY

Alnylam Pharmaceuticals and Roche reported that their KARDIA-2 study met its primary endpoint, showing significant blood pressure reductions with Zilebesiran when added to standard antihypertensive treatments.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:41 pm

AAPL

Jim Cramer has expressed concern over Apple Inc.'s future in China following a 24% drop in iPhone sales in the first six weeks of 2024, including the Lunar New Year period. This decline is part of a broader trend of challenges for Apple in China, including a rare iPhone discount during the Lunar New Year sale to counter economic deflation, price cuts by resellers, and adverse impacts from China's iPhone ban and security advisories. Apple's December 2023 quarter already showed a 13% decline in iPhone sales in China, marking it as a weak quarter. Additionally, competition from Huawei's resurgence is intensifying the situation.

Portfolio Pulse from Rounak Jain

March 05, 2024 | 12:30 pm

RDHL

Redhill Biopharma and Apogee Biotechnology's drug, Opaganib, has been selected by the U.S. Government's Chemical Medical Countermeasures Program and Chemical Countermeasures Research Program as a potential countermeasure against inhalation sulfur mustard exposure. This selection could lead to increased funding and support for further development and potential deployment of Opaganib.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:21 pm

KRON

Kronos Bio has announced an amendment to the protocol for its trial of KB-0742, transitioning to a four-days-on, three-days-off dosing schedule. This change aims to enhance patient time on KB-0742 at or above a therapeutic threshold.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:14 pm

TLSA

Tiziana Life Sciences announced it will present data on its intranasal anti-CD3 monoclonal antibody for Alzheimer's and Parkinson's disease models on March 8. This development could indicate progress in their research and potential for future treatments.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 12:08 pm

FXI

SPY

VGK

China's President Xi announced plans for major reforms to deepen in an all-round way, as reported by Reuters citing state media. This move could have significant implications for global markets and companies with exposure to China.

Portfolio Pulse from Charles Gross

March 05, 2024 | 10:56 am

GS

Sharmin Mossavar-Rahmani, CIO of Goldman Sachs Group's wealth management, advised against investing in China due to unclear policy direction, economic data, and a potential prolonged economic slowdown. Despite China's efforts to support its economy, such as offering computing vouchers to AI startups, Mossavar-Rahmani highlighted concerns about the stability and transparency of China's economic and policy environment. She also questioned the accuracy of China's official economic growth figures and suggested the Chinese real estate sector might not have reached its lowest point yet.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 8:13 am

BTCUSD

SHIBUSD

SMCI

In 2023, Bitcoin and Shiba Inu saw significant returns, with Bitcoin gaining over 155% and SHIB 260%. Super Micro Computer (SMCI) outperformed both, with a 278% return, attributed to its S&P 500 inclusion. The crypto market's recovery was driven by regulatory approvals and anticipation of a spot Bitcoin ETF, while AI stocks like SMCI benefited from the broader risk-on sentiment.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 8:09 am

BA

SPR

The FAA has identified Boeing Co (NYSE:BA) and Spirit AeroSystems Holdings Inc (NYSE:SPR) for non-compliance with manufacturing quality control regulations during an audit of the 737 MAX production line. The audit revealed issues in manufacturing process control, parts handling, and storage. Both companies are working with the FAA to address these issues. This scrutiny adds to Boeing's ongoing quality control challenges, including a recent FAA ultimatum to address systemic issues within 90 days.

Portfolio Pulse from Benzinga Neuro

March 05, 2024 | 8:03 am