Streetbeat News

Regulatory

BA

RYAAY

Ryanair CEO O'Leary expressed concerns that increased FAA supervision in Seattle could slow down operations, potentially affecting the airline's deliveries through the end of June, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:20 pm

GILD

Gilead Sciences is currently reviewing the safety of Magrolimab in all ongoing solid tumor trials and has committed to providing an update on this assessment as soon as possible, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:16 pm

GILD

Gilead Sciences announced that its drug Magrolimab, when combined with Venetoclax and Azacitidine, showed futility and an increased risk of death in AML patients. Consequently, Gilead will halt further development of Magrolimab for hematologic cancers.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:16 pm

CRLBF

TCNNF

Pennsylvania Governor Josh Shapiro has proposed the legalization of adult-use cannabis to generate over $250 million in annual revenue and combat the black market. The proposal includes a July 1, 2024, effective date for legalization, with sales starting January 1, 2025, and allocates $5 million towards restorative justice initiatives. Representatives from Cresco Labs and Trulieve participated in a House Health Subcommittee hearing discussing marijuana policy reform.

Portfolio Pulse from Nina Zdinjak

February 07, 2024 | 2:47 pm

IMMX

Immix Biopharma, Inc. (NASDAQ:IMMX) has been granted the European Union Orphan Drug Designation (ODD) for NXC-201, a treatment for AL Amyloidosis. This designation offers 10 years of market exclusivity in the EU, access to centralized authorization, reduced fees, and other benefits. The U.S. prevalence of relapsed/refractory AL Amyloidosis is increasing by 12% annually, with an estimated 29,712 patients in 2023. The company believes NXC-201 could be a one-time treatment option for this condition, with a favorable tolerability profile and potential for expansion into other autoimmune diseases.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:41 pm

NRSN

NeuroSense Therapeutics announced it has regained compliance with Nasdaq's listing requirements, avoiding potential delisting.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:28 pm

AAPL

GOVT

MSFT

NVDA

SPY

TSLA

Hedge funds experienced over $100 billion in withdrawals in 2023, continuing a trend from 2022 due to underperformance, particularly in equity long-short funds. Short sellers faced significant losses, notably in AAPL, MSFT, and TSLA. Meanwhile, investing in the S&P 500 index through SPY would have yielded a 24.3% return. U.S. Treasury funds underperformed, but the iShares US Treasury Bond ETF (GOVT) saw a 1.5% increase. New SEC rules may increase compliance risks and costs for hedge funds managing over $50 million.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 2:17 pm

DTSS

Datasea Inc. has successfully regained compliance with Nasdaq's listing requirements, ensuring its continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:15 pm

EDBL

Edible Garden AG Incorporated (NASDAQ:EDBL) has been granted U.S. Patent No. D1,010,365 S for its Self-Watering Display technology, designed to enhance plant shelf life and reduce spoilage in retail settings. This innovation aligns with the company's Zero-Waste Inspired mission and has already seen successful deployment at Meijer stores, with plans for further expansion.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:15 pm

EH

EHang Holdings Limited (NASDAQ:EH) announced a suggested retail price of $410,000 for its EH216-S pilotless eVTOL aircraft for global markets outside China, effective from April 1, 2024. The EH216-S features autonomous flight, electric propulsion, safety features, and intelligent systems for cluster management, aiming at various urban air mobility applications. It also secured the world's first Type Certificate and Standard Airworthiness Certificate for pilotless passenger-carrying eVTOL aircraft from the CAAC in 2023, highlighting EHang's commitment to safety and quality. This pricing strategy is intended to meet international demand and promote the adoption of innovative urban air mobility solutions.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:14 pm