Streetbeat News

Regulatory

LGND

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced its partner Eisai Co., Ltd. received approval in Japan for an injection formulation of the antiepileptic drug Fycompa, formulated with Ligand's Captisol technology. This marks the 16th Captisol-enabled product approved worldwide. Ligand is entitled to royalties from sales of this new formulation. Fycompa, a first-in-class AED, targets glutamate activity at AMPA receptors to reduce seizures. It is approved in over 75 countries for various forms of epilepsy.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 9:29 pm

TBIO

Telesis Bio has been granted a European patent (EUR Patent #3503915) for 'Genetically Engineered Vibrio Natriegens (Host Organism For Cloning And Manipulating DNA)'. This patent represents a significant advancement in the field of genetic engineering, potentially enhancing Telesis Bio's capabilities in DNA manipulation and cloning using the fast-growing bacterium Vibrio natriegens.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 8:57 pm

BA

Boeing Co (NYSE:BA) announced a leadership shake-up following a 737 Max 9 incident and regulatory scrutiny. Shares fell 20% since the incident. The FAA has increased oversight. New appointments include Uma Amuluru as HR officer and Katie Ringgold as VP of the 737 MAX program. Analysts view the changes positively but question if they are sufficient to restore confidence. Bank of America maintains a Neutral rating on Boeing with a $225 price target.

Portfolio Pulse from Neil Dennis

February 22, 2024 | 8:28 pm

SPY

Fed's Harker highlighted several positive economic indicators, including signs of the labor market balancing and strong U.S. GDP growth. He supports slowing the contraction of the Fed's balance sheet before stopping it altogether, noting that financial market liquidity is still abundant.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 8:17 pm

COGT

Cogent Biosciences, Inc. (NASDAQ:COGT) reported positive data from Part 1b of the SUMMIT trial for bezuclastinib in NonAdvSM patients, showing significant symptom reduction and quality-of-life improvements. The trial, presented at the AAAAI meeting, demonstrated a 51% mean change in Total Symptom Score at week 12, with 70% of patients achieving a ≥50% reduction. The safety profile was comparable to placebo, with no severe adverse events. SUMMIT Part 2 has been initiated globally. Cogent plans an investor webcast to discuss these findings.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:45 pm

JANX

Janux Therapeutics has filed a U.S. patent application (#20240059790) for tumor-activated antibodies targeting PSMA and effector cell antigens, indicating progress in their cancer treatment research.

Portfolio Pulse from Charles Gross

February 22, 2024 | 7:33 pm

META

Meta Platforms Inc (NASDAQ:META), the parent company of Facebook, announced its interpretation of a new Indonesian law requiring digital platforms to compensate news publishers does not apply to them for content posted voluntarily on its platforms. This comes as Indonesia enacts a law aimed at addressing the power imbalance between digital platforms and news content providers, similar to Australia's News Media Bargaining Code. Meta's stance follows discussions with the Indonesian government and amidst a broader dispute over content compensation. META shares saw a 4.44% increase to $488.82.

Portfolio Pulse from Anusuya Lahiri

February 22, 2024 | 6:55 pm

SPY

VGK

U.S. officials have issued a warning to Russia against the deployment of a nuclear-armed space weapon, as reported by the Wall Street Journal. This development could escalate tensions between the U.S. and Russia, potentially impacting global security and financial markets.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:42 pm

CYH

The Department of Justice (DOJ) is currently investigating hospitals operated by Community Health Systems (CYH) for their billing practices, according to a report by Stat News. The investigation could have significant implications for CYH, potentially affecting its financial stability and reputation.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:41 pm

BZFD

DPRO

ETSY

LRHC

RIVN

Etsy shares fell by around 8% after reporting mixed Q4 financial results, missing earnings estimates but beating sales forecasts. Other stocks showed significant movements, with La Rosa Holdings, BuzzFeed, and Monopar Therapeutics among the top gainers, while Draganfly, Greenbrook TMS, and Synaptogenix led the losers. Notable movements were also seen in companies like Rivian Automotive, Lucid Group, and Sunnova Energy due to various announcements and financial results.

Portfolio Pulse from Avi Kapoor

February 22, 2024 | 6:38 pm