Streetbeat News

Regulatory

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

CIBR

CRWD

PANW

ZS

Palo Alto Networks Inc (PANW) shares are recovering after a drop due to weak earnings guidance and CEO comments on client 'spending fatigue'. Despite this, the cybersecurity sector, including rivals CrowdStrike (CRWD) and Zscaler (ZS), remains a priority for investors, buoyed by regulatory changes and the increasing use of AI in cyber attacks. Analysts and high-profile investors remain bullish on PANW, and the First Trust NASDAQ Cybersecurity ETF (CIBR) continues to perform well.

Portfolio Pulse from Neil Dennis

February 28, 2024 | 1:52 pm

INBS

Intelligent Bio Solutions Inc. (INBS) partners with Cliantha Research for a pharmacokinetic study as part of its FDA 510(k) clinical study plan. The study aims to compare opiate levels in fingerprint sweat against traditional specimens, using INBS' Intelligent Fingerprinting Drug Screening System. This marks a significant step in INBS' journey towards FDA approval and U.S. market entry. The FDA has provisionally classified the screening cartridge as a Class II device, requiring 510(k) submission and clearance. The study, starting in May 2024, seeks to validate fingerprint sweat as a reliable testing method for opiates.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:35 pm

DIS

Reliance Industries, Viacom18, and The Walt Disney Company (NYSE:DIS) have announced a joint venture to merge their digital streaming and television assets in India, creating a leading platform for entertainment and sports. The JV, valued at approximately $8.5 billion post-money, will see Reliance investing around $1.4 billion. Disney will own 36.84% of the JV, which will control over 750 million viewers in India and cater to the Indian diaspora globally. The JV aims to lead digital transformation in the media and entertainment industry in India, offering a wide range of content including Disney's films and shows.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:32 pm

NVO

A Pew Research Center survey reveals skepticism among Americans regarding the effectiveness of weight loss drugs Ozempic and Wegovy, produced by Novo Nordisk (NYSE:NVO), in significantly reducing the country's obesity rate. Despite the drugs' FDA approval for managing Type 2 diabetes and long-term weight management, only 35% of respondents believe they will somewhat reduce obesity. Concerns include rising drug prices, counterfeit versions, and the need for food companies to adjust their offerings.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 1:31 pm

SPY

Core PCE Prices for Q4 increased by 2.1%, slightly above the estimated 2%. This indicates a higher than expected inflation rate, which could influence monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:30 pm

CMPX

Compass Therapeutics announced the publication of preclinical data for CTX-8371 in OncoImmunology, marking progress towards its first-in-human clinical trial. This development could signal a significant step forward in the company's pipeline and potentially impact its valuation positively if the clinical trials are successful.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:13 pm

SPRO

Spero Therapeutics has received clearance for its Investigational New Drug (IND) application for SPR206, aimed at treating multi-drug resistant (MDR) Gram-negative bacterial infections. This development marks a significant step forward in the company's efforts to address a critical need in the healthcare sector for new antibiotics capable of combating resistant bacteria.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:08 pm

APLT

Applied Therapeutics announced that the FDA has accepted and granted priority review to its New Drug Application for Govorestat, aimed at treating Classic Galactosemia. This marks a significant milestone for the company as it moves closer to potentially bringing a new treatment option to patients with this rare metabolic disorder.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:06 pm

FMST

FMSTW

Foremost Lithium has announced its application for a $10M grant from the Government of Canada's Critical Infrastructure Fund, aiming to bolster its lithium mining operations.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 1:01 pm