Streetbeat News

Regulatory

DISH

TMUS

DISH Network and T-Mobile have amended their License Purchase Agreement. DISH will make an upfront payment of $100M to T-Mobile within three business days from the date the U.S. District Court enters the amended final judgment.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:24 pm

NOVA

Sunnova Energy International Inc. has announced the pricing of its Hestia I securitization, which benefits from a partial guarantee provided by the U.S. Department of Energy (DOE) Loan Programs Office. The securitization consists of $219.6 million in indicatively rated AAA (sf)/AA+(sf) 5.75% notes and $24.4 million in indicatively rated BB (sf) 8.25% notes. The notes are backed by a diverse portfolio of rooftop solar systems, battery storage systems, and combined rooftop plus storage systems distributed across more than 20 states and territories. The transaction is expected to close by November 8, 2023.

Portfolio Pulse from Happy Mohamed

October 19, 2023 | 8:15 pm

BANC

PACW

Banc of California has received final regulatory approval for its merger with PacWest Bancorp. The merger is expected to close before the end of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:15 pm

AEON

AEON Biopharma announced topline results from its Phase 2 trial of ABP-450 for the preventive treatment of episodic migraine. The treatment showed a positive effect but did not meet statistical significance versus placebo due to a higher-than-expected placebo response. However, the study demonstrated statistical significance on multiple secondary and exploratory endpoints. The data supports the decision to advance into Phase 3, anticipated in 2H 2024. An ongoing Phase 2 trial for the preventive treatment of chronic migraine has enrolled over 430 subjects, with enrollment completion expected in Q4 2023 and topline data in 2H 2024.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:08 pm

CAPR

Capricor Therapeutics (NASDAQ:CAPR) will host a webinar with Parent Project Muscular Dystrophy (PPMD) to review regulatory details and provide clinical updates on its ongoing HOPE-3, Phase 3 clinical trial of CAP-1002 for treating Duchenne muscular dystrophy. The webinar will be held on October 25, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:03 pm

MCB

Metropolitan Commercial Bank is set to pay around $30 million in fines due to misuse of prepaid card accounts. The Federal Reserve stated that the bank opened these accounts for illicit actors who illegally obtained unemployment insurance benefits.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:02 pm

DNA

Ginkgo Bioworks (NYSE:DNA) and the Government of Serbia have announced a Memorandum of Understanding (MoU) to collaborate in support of Serbia's bioeconomy vision. The partnership will establish a Startup Accelerator that leverages Ginkgo's platform and expertise to support Serbian companies in the bioeconomy sector. The collaboration will also explore partnerships to develop and implement new biomonitoring capabilities in Serbia. Companies at Serbia's BIO4 campus will have opportunities to engage Ginkgo staff and access Ginkgo expertise on site.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:02 pm

GILD

IKNA

Gilead Sciences has reported a 6.7% stake in Ikena Oncology, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 7:38 pm

IGC

IGC Pharma has been granted a European patent for a 'Cannabinoid Composition and Method for Treating'. This could potentially open up new markets and revenue streams for the company.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 7:31 pm

TSLA

Venture capitalist Marc Andreessen has criticized those advocating for a slowdown in AI development, equating it to murder. He believes AI is a universal problem solver and any deceleration in its development will cost lives. His views contrast with those of Tesla CEO Elon Musk, who has warned of the profound risks AI presents to society. Reports suggest the EU is planning to propose stricter rules for AI development.

Portfolio Pulse from Adam Eckert

October 19, 2023 | 6:51 pm