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BIDU

YY

Joyy Inc's (NASDAQ:YY) stock is trading lower following the collapse of its proposed $3.6 billion sale of YY Live to Baidu Inc (NASDAQ:BIDU). The deal, announced in November 2020, failed to receive regulatory approval, leading to its termination by Baidu's affiliate Moon SPV. This reflects the Chinese government's tighter control over tech acquisitions and the ongoing regulatory challenges faced by companies like Baidu in the digital video and live-streaming sector. Joyy's stock was down 9.70% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:00 pm

CLSK

MARA

RIOT

Bitcoin mining stocks Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading higher due to a surge in Bitcoin's price, which crossed $45,000. The rise is attributed to optimism about a potential spot Bitcoin ETF and expectations of Federal Reserve rate cuts in 2024. The SEC may soon decide on the ETF applications, with 14 asset managers seeking approval. As Bitcoin miners, MARA, RIOT, and CLSK are gaining investor attention with Bitcoin reaching its highest levels in nearly 21 months.

Portfolio Pulse from Adam Eckert

January 02, 2024 | 1:49 pm

NRXP

NRx Pharmaceuticals, Inc. (NASDAQ:NRXP) will present a keynote address on ketamine's efficacy and risks for treating suicidal depression at the Sachs Neuroscience Innovation Forum. The company plans to file a New Drug Application for ketamine in 2024 in the US and EU. NRx has shown ketamine's superiority to placebo and non-inferiority to electroshock therapy in trials. They are developing a new formulation with Nephron Pharmaceuticals and a REMS program. NRx has created HOPE Therapeutics, Inc. to advance ketamine's development and will award rights to shareholders and new investors. NRx is also developing NRX-101 for suicidal bipolar depression and chronic pain, in partnership with Alvogen Pharmaceuticals.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:45 pm

CRBJY

LGFRY

MCHI

Chinese stocks, particularly in the real estate sector, experienced a sharp decline following weak property market data. The iShares MSCI China ETF (MCHI) dropped 1.8% in pre-market trading. Longfor Group Holdings ADR (LGFRY) and China Resources Land ADR (CRBJY) are expected to be impacted, with their performance data delayed. The property market data showed a 26% year-on-year drop in average daily home sales, and the manufacturing PMI indicated economic contraction. The Chinese yuan also fell by 0.6% against the dollar.

Portfolio Pulse from Neil Dennis

January 02, 2024 | 1:44 pm

CDIO

Cardio Diagnostics Holdings, Inc. (NASDAQ:CDIO) has been assigned a dedicated CPT PLA code by the AMA for its AI-driven CHD detection test, PrecisionCHD. This code is crucial for securing reimbursement and broadening access to the test. PrecisionCHD, which uses genetic-epigenetic analysis and AI, aims to improve CHD diagnosis and patient outcomes while reducing healthcare costs. The test's scalability and remote deployment capabilities can enhance care delivery, especially in underserved areas. The innovation of PrecisionCHD has been recognized in a study and by Vizient, Inc.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:42 pm

ELAN

Elanco Animal Health Incorporated (NYSE:ELAN) has announced Lawrence E. Kurzius as its next Chairman of the Board, effective after the 2024 Annual Meeting of Shareholders. Kurzius, a board member since 2018, will succeed R. David Hoover. Elanco plans to propose amendments to its corporate governance at the 2024 Annual Meeting, including declassifying the Board and enhancing shareholder rights. Michael Harrington and Kirk McDonald will assume new committee chair roles post-meeting. Kurzius brings extensive experience from his tenure at McCormick & Company and other companies.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:41 pm

KTTA

Pasithea Therapeutics has announced that the FDA has accepted its Investigational New Drug (IND) application for PAS-004, which is intended for evaluation in advanced cancer patients. This acceptance marks a significant milestone for the company as it can now proceed with clinical trials to assess the safety and efficacy of PAS-004 in this patient population.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:39 pm

IINN

Inspira Technologies (NASDAQ:IINN) has signed a non-binding Letter of Intent with Northwestern Memorial Hospital for the clinical use of its INSPIRA ART100 device, pending FDA clearance. The collaboration will involve Northwestern purchasing disposables for the device and providing usage data to Inspira Technologies. The agreement is contingent on FDA approval expected in the first half of 2024 and a definitive evaluation agreement.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:37 pm

DXR

Daxor Corporation has submitted its new Blood Volume Analyzer (BVA) system to the FDA for clearance, with expectations for potential approval in the first half of 2024. The new BVA system is designed to deliver faster, simpler, and bedside results, aligning with the company's mission to improve healthcare through optimal fluid management.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:33 pm

ADTX

Aditxt, Inc. has regained compliance with the Nasdaq's minimum stockholders' equity requirement, ensuring its continued listing on the stock market.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 1:31 pm