Streetbeat News

Regulatory

BTCUSD

Bitcoin's price surpassed $60,000, reaching levels not seen since November 2021, largely due to the introduction of Bitcoin ETFs. The SEC's approval of a spot Bitcoin ETF has sparked renewed interest, with significant community and industry reactions. The upcoming Bitcoin halving event in April 2024 is also generating anticipation, potentially influencing future price movements.

Portfolio Pulse from Murtuza Merchant

February 28, 2024 | 3:22 pm

LLY

NVO

VANI

FDA Chief Robert Califf expressed concerns over the sales of compounded or fake versions of new weight loss drugs, highlighting an 'enormous disparity' in access to these medications. The issue affects companies involved in the production of weight loss drugs.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 3:07 pm

DDD

MSTR

TSLA

Bitcoin's surge to $59K led to $71M in short squeezes, boosting meme coins like Dogecoin, Shiba Inu, and Floki, pushing their market cap to $26.5B. MicroStrategy's stock is predicted to hit $990 amid a Bitcoin rally to $125K. In US markets, 3D Systems reported downbeat Q4 results, affecting pre-market session movements. Cox Enterprises is set to acquire OpenGov for $1.8B. Tesla shows premarket gains, while Ford recalls 63K trucks. Viatris partners with Idorsia for heart attack treatments, and PNM Resources and AEP complete a solar venture sale.

Portfolio Pulse from Akanksha Bakshi

February 28, 2024 | 2:46 pm

MDXXF

TRUFF

Red Light Holland Corp. (OTCQB:TRUFF) and PharmAla Biotech Holdings (OTC:MDXXF) are collaborating on psilocybin research and product development. Red Light Holland has received a permit allowing CCrest Labs to import 5kg of its natural psilocybin truffles for R&D, aiming to develop clinical-grade psilocybin drug products. The collaboration also includes potential sales agreements for global markets. Additionally, Red Light Holland is expanding its non-psychedelic mushroom business in North America, with plans to build a large production facility in Peterborough, Ontario.

Portfolio Pulse from Lara Goldstein

February 28, 2024 | 2:33 pm

ADIL

Adial Pharmaceuticals Inc (NASDAQ:ADIL) announced the issuance of a new US patent (number 11,905,562) for its lead investigational drug, AD04, targeting the serotonin transporter gene for treating opioid use disorder (OUD). This patent strengthens Adial's portfolio, highlighting AD04's potential in treating OUD and other drug dependencies beyond its initial focus on alcohol use disorder (AUD). The company remains committed to advancing AD04 towards commercialization for AUD and exploring its efficacy for OUD and other indications.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 2:16 pm

ADIL

Adial Pharmaceuticals has announced a new patent that enhances its portfolio, specifically covering AD04's capability to target the serotonin transporter gene for potentially treating opioid use disorder. This development could significantly impact Adial's position in the market for opioid use disorder treatments.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:15 pm

ADIL

Adial Pharmaceuticals has been awarded a new patent from the United States Patent and Trademark Office, according to an exclusive report by Benzinga.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:15 pm

IMCC

IM Cannabis Corp. (IMCC) announced a non-binding term sheet for a reverse merger with Israel-based Kadimastem Ltd, a clinical cell therapy company. Post-merger, Kadimastem shareholders will own 88% of the new entity, with IMCC shareholders owning 12%. The merger aims to shift the business focus from medical cannabis to biotechnology, leveraging Kadimastem's FDA-approved Phase IIa clinical trial for ALS and a diabetes product development partnership. The deal includes a plan to sell IMCC's existing medical cannabis operations, with proceeds going to contingent value right holders. Kadimastem aims for a NASDAQ listing to enhance its US market presence.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:14 pm

CORN

EPOL

SOYB

VGK

WEAT

Polish Prime Minister Donald Tusk announced a meeting with protesting farmers to address their concerns over EU regulations, rising costs, and competition from Ukraine. Tusk mentioned discussions with Ukraine about potentially closing the border temporarily to address the influx of food products, which Poland finds problematic due to the war's impact on agriculture.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:06 pm

APLT

Applied Therapeutics' stock is trading higher following the FDA's acceptance and priority review of the NDA for govorestat, aimed at treating Classic Galactosemia. Additionally, the company has announced a $100 million private placement.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:04 pm