Streetbeat News

Regulatory

ABSI

Absci has started IND-enabling studies for ABS-101, leveraging its De Novo Generative AI Foundation Model. The company plans to submit an IND for ABS-101 in the first quarter of 2025.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:44 pm

RNSDF

STLA

VWAGY

European automotive giants Volkswagen AG (OTC:VWAGY), Renault SA (OTC:RNSDF), and Stellantis NV (NYSE:STLA) are considering a partnership to produce affordable EVs in response to competition from Chinese EV makers and Tesla. This move aims to address the challenges posed by the growing dominance of Chinese EVs, supported by state subsidies, and the competitive pressure from Tesla. The European Commission is investigating Chinese EV manufacturers for potential unfair advantages and considering tariffs on Chinese EV imports, which could benefit European automakers.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 12:23 pm

REGN

Regeneron Pharmaceuticals announced that its Biologics License Application (BLA) for Linvoseltamab, aimed at treating relapsed/refractory multiple myeloma, has been accepted for FDA Priority Review. The target action date for the FDA's decision is August 22, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:16 pm

REGN

Regeneron Pharmaceuticals announced that its Biologics License Application (BLA) for Linvoseltamab, aimed at treating relapsed/refractory multiple myeloma, has been accepted for FDA Priority Review. This expedited review process signifies the potential for Linvoseltamab to address an unmet medical need in the treatment of this cancer.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 12:10 pm

ETON

Eton Pharmaceuticals (NASDAQ:ETON) has been granted a U.S. patent for its proprietary oral liquid hydrocortisone formulation, ET-400, by the USPTO. The patent, expiring in 2043, is expected to be listed in the FDA's Orange Book upon approval. Eton has additional patent applications under review for the product.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:55 am

META

Meta Platforms Inc. (NASDAQ:META) faces a $3.8 billion lawsuit in the UK over allegations of abusing market dominance and improperly collecting data from users. The lawsuit, initiated by Dr. Liza Lovdahl Gormsen, could affect 45 million people and seeks damages for the commercial use of personal data without adequate compensation. Meta has dismissed the lawsuit as 'entirely without merit.' This legal challenge is among several others Meta has encountered globally, including a recent $725 million settlement in a U.S. privacy case.

Portfolio Pulse from Rounak Jain

February 21, 2024 | 11:53 am

NVDA

PANW

QQQ

SPY

Wall Street is focused on Nvidia's upcoming Q4 earnings amid a tech selloff and concerns over Federal Reserve's future interest rate decisions. Tuesday's market downturn was influenced by mixed retail earnings, Nvidia earnings anxiety, and a decline in the leading economic index. Futures and specific stocks like Palo Alto Networks showed premarket declines, while the market anticipates Fed minutes and speeches for interest rate clues. Notable companies are scheduled for earnings reports, affecting stock movements.

Portfolio Pulse from Shanthi Rexaline

February 21, 2024 | 11:51 am

GAU

Galiano Gold announced receiving a No Objection Letter from the Ministry of Lands & Natural Resources of Ghana, indicating regulatory approval for its operations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:50 am

FRGT

Fr8Tech announced it has regained compliance with Nasdaq's minimum bid price listing rule, indicating its stock price has met the required threshold.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:40 am

DOGEUSD

XRPUSD

Ripple CEO Brad Garlinghouse expressed openness to backing an XRP-focused ETF during a Bloomberg interview. He refrained from commenting on discussions with asset managers like BlackRock, following speculation about BlackRock's interest in an XRP ETF, which was later discredited. Garlinghouse criticized the SEC's approach under Gary Gensler and expressed skepticism about the utility of Dogecoin. XRP's price was reported to be down 3.60% at $0.54.

Portfolio Pulse from Mehab Qureshi

February 21, 2024 | 11:02 am