Streetbeat News

Regulatory

LEXX

Lexaria Bioscience Corp. announced positive results from a human pilot study showing its DehydraTECH technology improved the oral delivery of the GLP-1 drug semaglutide, branded as Rybelsus. The study, conducted by a university research center, demonstrated that DehydraTECH-powered semaglutide achieved higher blood levels, better blood glucose control, faster peak drug delivery, and reduced side effects compared to the control. Lexaria is preparing for further studies to evaluate DehydraTECH's effectiveness with GLP-1 drugs.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:12 pm

COWZ

MCD

MRK

On CNBC's 'Halftime Report Final Trades,' Joseph Terranova recommended Merck & Co., despite the FDA's CRL on gefapixant for RCC and UCC. Stephanie Link expects McDonald's revenues to rise, citing legal action by GAR against BDS Malaysia and a Buy rating from HSBC with a $317 target. Bryn Talkington highlighted Pacer US Cash Cows 100 ETF's high free cash flow yield as a strong trade for 2024. Merck's stock rose 1.4%, McDonald's fell 0.9%, and COWZ dropped 0.5% on Wednesday.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 2:11 pm

DH

Definitive Healthcare has announced through an SEC filing that it expects to incur pre-tax cash restructuring and related charges of approximately $6.5M-$7.2M in the first half of 2024, which will affect its GAAP financial results.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:10 pm

OPK

OPKO Health, Inc. (NASDAQ:OPK) is initiating a private offering of $200 million Convertible Senior Notes due 2029, with an option for the initial purchaser to buy an additional $30 million. The notes are senior unsecured obligations, paying semiannual interest, maturing on January 15, 2029, and can be converted into cash, shares, or a mix. Entities affiliated with company executives indicated interest in acquiring $70 million of these notes. Proceeds may be used to repurchase common stock and 4.50% Convertible Senior Notes due 2025. The repurchases could affect the market price of the common stock and the notes. The securities offered have not been registered under the Securities Act and are available only to qualified institutional buyers.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:08 pm

INDI

Ficosa and indie Semiconductor have entered into a joint global commercialization agreement to develop and commercialize automotive camera solutions with neural network-based AI processing. These solutions aim to provide best-in-class imaging and detection to meet the latest automotive safety regulations. The partnership expects to begin sampling its first smart camera solutions in 2024, with full-scale production anticipated by 2025.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:04 pm

BABA

PDD

Alibaba Group Holding Ltd (BABA) and PDD Holdings Inc (PDD) are major players in China's e-commerce market. Alibaba, with a 50.8% market share, has faced challenges including U.S. restrictions, regulatory crackdowns, and internal restructuring, leading to a significant drop in stock value. PDD has surpassed Alibaba in market capitalization, benefiting from strategic moves like livestream sales. Despite Alibaba's larger scale in revenue, PDD's market cap growth reflects changing market dynamics and consumer preferences.

Portfolio Pulse from Surbhi Jain

January 04, 2024 | 1:58 pm

SILO

Silo Pharma has announced its intention to submit a pre-IND (Investigational New Drug) application to the FDA in the first quarter of 2024. This decision is based on preclinical data and collaborative efforts with Columbia University. The submission will mark a significant milestone for the company as it progresses towards potential clinical trials for its drug candidates.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:55 pm

ISPR

Ispire Technology Inc. (NASDAQ:ISPR) has announced that its Malaysian subsidiary received three ISO certifications for its manufacturing facility, which is expected to increase gross margins by avoiding tariffs and improving production efficiency. The certifications are anticipated to enhance product quality, customer satisfaction, and access to global markets, contributing to the company's gross-margin expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:42 pm

TCBP

TC BioPharm (NASDAQ:TCBP), a clinical stage biotechnology company, has regained compliance with Nasdaq's minimum bid price requirement. The company's stock maintained a closing bid price of $1.00 or more for at least 10 consecutive business days, satisfying Nasdaq's condition for continued listing on the Nasdaq Capital Market. Previously, on June 22, 2023, TCBP was notified of non-compliance due to its stock price falling below the $1.00 threshold for 30 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:41 pm

JAGX

Jaguar Health has been granted a patent for methods to treat congenital diarrheal disorders (CDD) using crofelemer, an inhibitor of chloride-ion transport. The company is backing studies for crofelemer's use in rare diseases like microvillus inclusion disease and short bowel syndrome (SBS), with results anticipated in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:39 pm