Streetbeat News

Regulatory

TPG

TPG Growth, part of TPG (NASDAQ:TPG), is set to invest up to $228 million in Sayari, a risk intelligence provider. This strategic majority investment will support Sayari's global expansion and the launch of a new AI-powered supply chain platform in 2024. Sayari has experienced rapid growth and is trusted by government agencies and large companies. The deal, which will see Sayari's founders and investors retain significant stakes, is expected to close in Q1 2024, subject to regulatory approvals. TPG's investment reflects its long-standing interest in information services and government technology sectors.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:04 pm

PROC

Procaps Group notified shareholders of incorrect online voting instructions for its General Meeting on January 22, 2024. A third party mistakenly stated that the Board recommended voting 'for' the proposals, which was not the case. The company is investigating and correcting the error.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:52 pm

AAWH

JUSHF

VRNOF

New York has seen significant growth in its cannabis industry, with nearly 6,200 licenses issued last year. Several new cannabis shops have opened in NY, with The Flowery, The Herbal Care, and Verona Collective among them. Orange County Cannabis also launched sales. Ascend Wellness Holdings opened a new store in Ohio, Jushi Holdings relocated a dispensary in Pennsylvania, and Verano Holdings opened a new location in Florida. Experts suggest cannabis stocks are now poised for growth, with Benzinga PotProfits highlighting recent gains in cannabis stocks such as GTBIF, TCNNF, and VFF.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 1:52 pm

BIDU

Baidu Inc (NASDAQ:BIDU) stock fell after media reports linked its AI platform, Ernie Bot, to military research in China. Baidu denied any collaboration with the authors of the academic paper or their institutions. The South China Morning Post corrected their report, and Baidu reaffirmed its commitment to legal compliance.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 1:46 pm

ACI

KR

Kroger (NYSE:KR) and Albertsons Companies (NYSE:ACI) have announced that their proposed $24.6 billion merger is now expected to be completed in the first half of Kroger's fiscal 2024, later than the early 2024 completion previously anticipated. The deal, which involves Kroger acquiring Albertsons for $34.10 per share, is under scrutiny by the FTC due to concerns over potential market monopoly. The companies are in dialogue with the FTC and state Attorneys General regarding the merger and divestiture plan. Kroger plans to invest $500 million to reduce prices and an additional $1.3 billion to enhance customer experience, plus $1 billion to increase wages and benefits post-merger. KR shares saw a slight increase of 0.22% in premarket trading.

Portfolio Pulse from Nabaparna Bhattacharya

January 16, 2024 | 1:43 pm

MLSS

Milestone Scientific Inc. (NYSE:MLSS) CEO Arjan Haverhals provided a shareholder letter updating on the commercialization and reimbursement status of CompuFlo technology. The company has received FDA clearance for expanded use, established advisory sites across the US, and reported a 100% success rate in patient procedures with zero dural punctures. Claims submitted using the new CPT code 0777T have been accepted by payor systems, with one-third receiving positive reimbursement, mostly from commercial payors and Medicare. The company plans to increase the number of CompuFlo providers and continue engaging with payors for consistent coverage.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:42 pm

ASNS

Actelis Networks, Inc. has received approval from the US Department of Defense's JITC Labs for cybersecurity and interoperability. This approval also includes the inclusion of Actelis' products on the Approved Products List, which may lead to increased adoption of their solutions within the Department of Defense.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:31 pm

PBLA

Panbela Therapeutics, Inc. (NASDAQ:PBLA) has announced a 1-for-20 reverse stock split effective January 18, 2024, to increase its stock price and regain compliance with Nasdaq Capital Market listing requirements. The reverse split will reduce the outstanding shares to approximately 480 thousand, with adjustments to warrants, options, and equity incentive plans. The authorized shares for issuance will remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:21 pm

CMPS

Compass Pathways has entered into a research collaboration agreement with Hackensack Meridian Health to develop a clinical model for its investigational COMP360 psilocybin treatment, pending FDA approval.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:17 pm

SLRX

Salarius Pharmaceuticals has been granted U.S. Patent No. 11,773,080, which provides composition-of-matter protection until 2039 for its novel molecular glues. This addition expands the company's protein degrader portfolio to include 17 issued patents across six patent families.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:16 pm