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The most-read cannabis stories of 2023 on Benzinga included a range of topics from the benefits of cannabis for aging brains, political shifts towards legalization, and high-profile celebrity endorsements. Key highlights include a study suggesting cannabis does not negatively impact cognition in older adults, Elon Musk's comments on psychoactive drugs, a man ditching morphine for marijuana to alleviate arthritis, Aleafia Health's expansion into Europe's medical cannabis market, a pathogen threatening California's cannabis crops, Florida's telehealth renewals for medical marijuana, GOP senators admitting legalization impacts drug cartels, Tilray's acquisition of beer brands from Anheuser-Busch, Snoop Dogg's anti-Trump TikTok video, Georgia's medical cannabis sales in pharmacies, and Ohio's GOP-led Senate approving expanded marijuana legislation.

Portfolio Pulse from Nina Zdinjak

December 28, 2023 | 2:54 pm

CING

NVS

Cingulate Inc (CING) saw its stock trading higher after receiving FDA guidance for its ADHD drug candidate CTx-1301. The company plans to submit an NDA in 1H 2025 using Novartis AG's (NVS) Focalin XR as a reference. Cingulate has stopped enrollment in two Phase 3 studies and will update its Pediatric Study Plan. It requires $17M-$21M to file the NDA, less than expected. Cingulate is also planning to initiate clinical plans for CTx-1302 and may develop CTx-2103 for anxiety, pending additional capital. The company is addressing Nasdaq compliance issues due to board member resignations and will present a plan at a hearing in February 2024. CING shares surged 174.2% to $10.94.

Portfolio Pulse from Vandana Singh

December 28, 2023 | 2:50 pm

TELL

Tellurian Inc. has announced that $37.9 million of its 10% senior secured notes due in 2025 will be extinguished. In exchange, the company will issue 47.9 million shares to an institutional investor holding the notes, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:36 pm

LOPE

The FTC has sued Grand Canyon Education, Inc. (LOPE) and Grand Canyon University for deceptive marketing practices regarding their doctoral programs. The lawsuit alleges that the institutions misrepresented the cost and course requirements, falsely marketed themselves as a nonprofit, and made abusive telemarketing calls. The FTC's complaint highlights that less than 2% of GCU doctoral graduates completed their program at the advertised cost, with most requiring additional costly continuation courses.

Portfolio Pulse from Nabaparna Bhattacharya

December 28, 2023 | 2:29 pm

SGHT

Sight Sciences, Inc. (NASDAQ:SGHT) has announced that five Medicare Administrative Contractors (MACs) have withdrawn their final local coverage determinations (LCDs) for Micro-Invasive Glaucoma Surgery (MIGS) that were set to take effect on January 29, 2024. This decision means that there will be no change to the current Medicare coverage for MIGS procedures performed with Sight Sciences' OMNI Surgical System. The company's CEO, Paul Badawi, expressed appreciation for the collaborative efforts of various stakeholders in the review process and looks forward to continued engagement to ensure access to MIGS procedures.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:16 pm

BITQ

BTBT

CIFR

COIN

MSTR

PLTR

TSLA

Bitcoin SV surged 51%, outperforming Bitcoin and Ethereum. Microstrategy's increased Bitcoin holdings prompted Canaccord Genuity to raise its price target. Ark Invest bought ProShares Bitcoin ETF shares and sold Coinbase, Block, and Palantir shares. In other markets, Bit Digital and Cipher Mining stocks moved higher. US politics and economy saw developments, including corporate default warnings from Fitch and a recession forecast by Peter Schiff. Tech giants like Google, Apple, and Microsoft made headlines with AI and security updates. In the EV sector, Tesla and Xiaomi made news, while Ford recalled F-Series cars. Credit Suisse was fined by Singapore, and New Fortress Energy secured a significant contract in Brazil.

Portfolio Pulse from Akanksha Bakshi

December 28, 2023 | 2:10 pm

APXI

Px Acquisition Corp. I received a deficiency letter from Nasdaq on Dec. 21, 2023, for the late filing of its Form 10-Q.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 2:09 pm

COIN

MARA

RIOT

Portfolio Pulse from Adam Eckert

December 28, 2023 | 1:53 pm

BABA

FXI

Alibaba Group Holding Limited (NYSE:BABA) stock is trading in line with the broader index IShares China Large-Cap ETF (NYSE:FXI) following reports of China's central bank's commitment to support the economy. However, a U.S. judge has denied Alibaba's request to dismiss a lawsuit over the sale of counterfeit Squishmallows on its platforms. Alibaba's stock has underperformed year-to-date compared to FXI, with a 17.3% loss versus FXI's 21% loss. BABA shares saw a premarket increase of 1.62%.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 1:50 pm

CING

LAES

MBOT

Cingulate (CING) received FDA guidance for its ADHD treatment, CTX-1301, and plans to submit an NDA in H1 2025. SEALSQ (LAES) revealed its post-quantum semiconductor technology to secure crypto transactions against quantum threats. Microbot Medical (MBOT) announced the successful completion of its GLP pivotal pre-clinical study under FDA guidelines using a porcine model.

Portfolio Pulse from ryanfaloona@benzinga.com

December 28, 2023 | 1:42 pm