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VEV

Vicinity Motor Corp. (NASDAQ:VEV) has entered into a distribution agreement with Shift EV Trucks to open Vicinity Trucks West Toronto, a dealership dedicated to Vicinity's commercial electric vehicles. Shift EV Trucks, an established dealership since 2013, will now offer Vicinity's VMC 1200 trucks in West Toronto, aiming to expand into the commercial EV market. The partnership is expected to capitalize on the growing demand for commercial EVs, driven by lower ownership costs, regulatory support, and government incentives.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:07 pm

INCY

Incyte (NASDAQ:INCY) presented at the 42nd Annual J.P. Morgan Healthcare Conference, highlighting growth opportunities and updates in its pipeline. The company announced positive Phase 2 results for ruxolitinib cream (Opzelura) in treating hidradenitis suppurativa (HS) and plans for a Phase 3 study. Incyte also showcased early data for INCB123667, a CDK2 inhibitor showing promise in late-stage cancers. Updates on expanding leadership in MPNs and GVHD, as well as the dermatology franchise, were provided. Further financial guidance and clinical program updates are expected in the 2023 Q4 earnings call.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:02 pm

EIS

IZRL

The Israel-Hamas conflict has reached a three-month mark with recent escalations including the killing of a Hezbollah commander by Israel. The G7, led by the U.S., is seeking a rapid end to the military phase, while U.S. Secretary of State Antony Blinken is on a Middle East tour to initiate peace efforts. Israeli Defense Minister Yoav Gallant indicated a strategic shift in military operations. The iShares Israel MSCI ETF (EIS) has seen a plateau in performance after recovery, while the ARK Israel Innovative Technology ETF (IZRL) is down 3.7% year to date, and the Israeli shekel has depreciated against the U.S. dollar.

Portfolio Pulse from Piero Cingari

January 08, 2024 | 1:59 pm

MIRM

Mirum Pharmaceuticals, Inc. (NASDAQ:MIRM) announced preliminary unaudited 2023 net revenue and provided corporate updates. The company expects Q4 revenue of $69M-$71M, slightly above the $68.27M estimate, and FY23 revenue of $178M-$180M, below the $185.4M estimate. LIVMARLI net product sales are projected to be $141M-$143M for 2023, an 89% increase from 2022. Mirum acquired CHOLBAM and CHENODAL, expanded LIVMARLI's US label, and grew its international business. The company is fully financed with a strong balance sheet and announced Eric Bjerkholt as CFO. Mirum anticipates continued revenue growth in 2024, with key milestones including FDA PDUFA date for LIVMARLI, NDA submission for CHENODAL, and interim analyses for volixibat studies.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:58 pm

ONCT

Trading for ONCT was halted and then resumed at 8:55 AM ET, with an update on news and resumption times provided.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:55 pm

CRMD

CorMedix Inc. (NASDAQ:CRMD) has announced updates on the commercial launch of DefenCath, including a submitted HCPCS application for a J-Code to CMS, ongoing discussions for Medicare Part B reimbursement, and interest from health systems. The inpatient launch is expected by April 15, 2024, and outpatient availability is anticipated no sooner than July 1, 2024, pending CMS decisions. CorMedix may set an initial list price for DefenCath before CMS's final determination, with plans to adjust it based on the outcome. The company has sufficient funds for the launch and is expanding its staff in preparation.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:54 pm

LQR

Trading on the stock LQR has been halted at 8:45 a.m. ET due to pending news. The halt is in place to ensure a fair and orderly market until the news is released and investors have had time to digest the information.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:45 pm

IRTC

iRhythm Technologies, Inc. (NASDAQ:IRTC) reported preliminary Q4 2023 results at the J.P. Morgan Healthcare Conference, showing over 22% YoY growth in patient registrations. The company expects FY24 revenue to be between $575M-$585M, aligning with estimates. iRhythm published the CAMELOT study, submitted a 510(k) to the FDA, received CE marks for Zio Monitor and ZEUS systems, and closed a $150M term loan credit facility with Braidwell LP. The company is focusing on expanding its cardiology and primary care channels and international markets, while investing in technology and growth.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:41 pm

LQDA

UTHR

Liquidia Corporation has responded to a patent infringement lawsuit by United Therapeutics, seeking dismissal of all claims related to the '793 patent due to prior invalidity findings affirmed by the Federal Circuit. Liquidia also filed counterclaims asserting the '327 patent is not infringed, invalid, and unenforceable, alleging United Therapeutics failed to disclose prior art during patent prosecution. The dispute centers around Liquidia's NDA for YUTREPIA, an inhalation powder for treating pulmonary hypertension. Liquidia argues against a 30-month regulatory stay, as the patents were not issued before the original NDA filing.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:38 pm

VERU

Veru Inc. has submitted an Investigational New Drug (IND) application to the FDA for the development of Enobosarm, a drug aimed at preventing muscle loss and promoting fat loss in combination with GLP-1 drugs for weight loss. This submission marks a step forward in the company's efforts to address the needs of individuals seeking weight loss solutions that also preserve muscle mass.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 1:38 pm