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Regulatory

VSTO

MNC Capital has proposed to acquire Vista Outdoor Inc. (VSTO) for $35.00 per share in cash, offering a substantial premium over its current share price. This proposal is presented as superior to Vista's current plans to sell its Sporting Products division to CZECHOSLOVAK GROUP a.s. and to spin off its Outdoor Products division into a public company, Revelyst, Inc. MNC's offer aims to keep the Sporting Products business under U.S. ownership, emphasizing its national security importance and proposing a quicker, all-cash transaction without regulatory or CFIUS review concerns.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 2:44 pm

LFWD

ReWalk Robotics Ltd. (DBA Lifeward), announced that CMS has deferred its final decision on the payment rate for personal exoskeletons, affecting the pricing determination for ReWalk Personal Exoskeletons. The decision, part of CMS' HCPCS coding memorandum, means payments will continue on a case-by-case basis. Lifeward has delivered 35 Personal Exoskeletons to Medicare beneficiaries and remains committed to supporting pricing considerations for its stair-enabled ReWalk Exoskeleton.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:48 pm

NSC

Ancora Holdings Group, LLC and its affiliates (the Investor Group), holding a significant stake in Norfolk Southern Corporation (NYSE:NSC), issued an open letter criticizing the company's leadership and proposing changes. They highlighted CEO Alan Shaw's 37% pay raise despite poor performance, including the East Palestine derailment. The Investor Group nominated eight candidates for the board and proposed a new management team, urging a focus on safety, growth, and value creation. They criticized the current board's actions as serving CEO interests over shareholders and called for a fact-based election contest.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:37 pm

EOLS

Evolus, Inc. (NASDAQ:EOLS) announced its dermal filler product (Evolysse™/Estyme® Lift) showed statistical superiority over Restylane-L in a European study, meeting its primary endpoint of non-inferiority at 3 and 6 months. The company plans to launch the first-generation Cold HA Technology globally in 2025, with FDA filing expected in summer 2024. The study, which enrolled 45 patients, demonstrated the safety and effectiveness of the Evolysse™/Estyme® Lift filler. Additionally, Evolus has entered into exclusive distribution agreements with Symatese for the US and Europe, expanding its market by 78% to approximately $6 billion.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:32 pm

LEXX

Lexaria Bioscience Corp. has received FDA clearance for its upcoming Phase 1b clinical trial in the U.S., aimed at treating hypertension. This regulatory approval marks a significant milestone for Lexaria, allowing it to proceed with its planned study to evaluate the efficacy and safety of its hypertension treatment.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:22 pm

AINC

Ashford Inc. (NYSE:AINC) announced that the NYSE American has accepted its compliance plan for continued listing, following a notification of non-compliance with listing standards related to stockholders' equity. The company has until June 20, 2025, to regain compliance, subject to quarterly reviews. Failure to meet the standards may result in delisting.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:05 pm

TGTX

TG Therapeutics announced the presentation of data from ULTIMATE I & II Phase 3 trials and ENHANCE Phase 3b trial evaluating Briumvi for relapsing forms of Multiple Sclerosis at the Americas Committee for Treatment and Research in Multiple Sclerosis Annual Forum.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 12:35 pm

CGEM

Cullinan Oncology announced FDA clearance for its Investigational New Drug application for CLN-619, a novel MICA/B antibody aimed at treating relapsed/refractory multiple myeloma. This marks a significant step forward in the development of new treatments for this challenging form of cancer.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 12:04 pm

BSX

Boston Scientific announced it has received FDA approval for its Agent drug-coated balloon, designed to treat coronary in-stent restenosis (ISR) in patients with coronary artery disease. This approval marks a significant milestone for the company in expanding its cardiovascular treatment portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 11:57 am

ADM

Archer-Daniels-Midland (ADM) announced it will not be able to file its annual report for the fiscal year ended December 31, 2023, within the prescribed time period. The company expects to file the report by March 15.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 11:50 am