Streetbeat News

Regulatory

TNXP

The FDA has approved Tonix Pharmaceuticals' application for a Phase 2 trial of TNX-102 SL, aimed at reducing the severity of acute stress reactions and the frequency of acute stress disorder and PTSD. The trial is sponsored by UNC Institute for Trauma Recovery and supported by a $3 million DoD grant.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:17 pm

PPTA

Perpetua has been conditionally awarded up to $34.6 million in additional funding under its existing Technology Investment Agreement through Title III of the Defense Production Act. This funding aims to enhance Perpetua's capabilities and contribute to its growth.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:15 pm

MRK

Health Canada has approved Merck's Keytruda in combination with trastuzumab, fluoropyrimidine, and platinum-containing chemotherapy as a first-line treatment for locally advanced unresectable or metastatic HER2-positive gastric or gastroesophageal junction adenocarcinoma. This marks a significant advancement in the treatment options available for patients with this type of cancer.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:10 pm

BMY

Bristol Myers Squibb (BMY) and Rayzebio have announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, related to BMY's deal to acquire Rayzebio for $62.50 per share, announced on February 9.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 12:02 pm

C

U.S. regulators have demanded Citigroup to urgently revise its approach to assessing the default risk of its trading partners. This move underscores the regulatory scrutiny Citigroup is under, potentially affecting its operational and compliance frameworks.

Portfolio Pulse from Charles Gross

February 12, 2024 | 11:42 am

NUVL

Nuvalent has begun the Phase 2 segment of its ALKOVE-1 Phase 1/2 trial for NVL-655, aimed at treating ALK-positive non-small cell lung cancer and other solid tumors, after agreeing with the FDA on a recommended Phase 2 dose of 150 mg once daily.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:32 am

SHEL

Shell (NYSE:SHEL) announced the closure of its hydrogen light-duty passenger fueling stations in California due to supply chain issues and external market factors. This decision, which includes the permanent closure of seven stations, reduces California's hydrogen fueling options by 12% and marks a significant setback for the state's green mobility initiatives. Shell's move aligns with its broader strategy to scale down low-carbon operations, including a 15% workforce reduction in its low-carbon solutions division and the sale of its share in the Schwedt refinery.

Portfolio Pulse from Benzinga Neuro

February 12, 2024 | 11:12 am

LCID

The National Highway Traffic Safety Administration (NHTSA) is investigating the effectiveness of Lucid Group Inc's software update remedy for a recall of over 2,000 Air Sedans due to a windshield defrosting issue. The recall, issued in January for vehicles made during 2022-2023, concerns the failure of the high voltage coolant heater (HVCH) to defrost the windshield. Lucid's solution involves a software update to alert drivers of a failure, but NHTSA is concerned this may not be sufficient. The investigation follows a similar recall by Jaguar Land Rover, which opted to replace the coolant heater in affected vehicles. Lucid delivered 6,001 vehicles in 2023 and will discuss its full-year financial results on Feb. 21.

Portfolio Pulse from Anan Ashraf

February 12, 2024 | 11:11 am

TC

TuanChe Limited has successfully regained compliance with the Nasdaq's minimum bid price requirement, ensuring its continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

February 12, 2024 | 11:03 am

RIO

Rio Tinto PLC (NYSE:RIO) faces pressure from socially conscious investors and lenders due to water management issues at its Oyu Tolgoi copper mine in Mongolia and an ilmenite mine in Madagascar. The Local Authority Pension Fund Forum (LAPFF) has raised concerns, which could affect Rio Tinto's efforts to gain approval for new mines in Serbia and Arizona. LAPFF, representing U.K. pension funds with over $445 billion in assets, plans to push for an independent water impact assessment at Rio Tinto's mine sites. The company has been graded 'F' by environmental adviser CDP for not disclosing water data since 2016. Rio Tinto will report its Q4 FY23 results on February 21, 2024.

Portfolio Pulse from Lekha Gupta

February 12, 2024 | 10:49 am