Streetbeat News

Regulatory

GBTC

Barry Silbert resigned as Chairman of Grayscale Bitcoin Trust (GBTC) amid unresolved allegations against his Digital Currency Group (DCG) and an ongoing SEC investigation. Lumida Wealth CEO Ram Ahluwalia suggested that Silbert's departure could grant Grayscale more autonomy, potentially improving its chances of obtaining Bitcoin ETF approval. The SEC has informally indicated the strength of an application, and Ahluwalia compared DCG's situation to Enron's accounting scandal.

Portfolio Pulse from Khyathi Dalal

December 26, 2023 | 9:50 pm

ELTX

Yekaterina Chudnovsky has reported a 19.99% stake in Elicio Therapeutics as of December 22, 2023, according to an amended 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:42 pm

CHRS

Coherus BioSciences, Inc. (NASDAQ:CHRS) stock surged in after-hours trading following the FDA approval of UDENYCA ONBODY for pegfilgrastim-cbqv. The product is an on-body injector for a biosimilar administered post-chemotherapy to reduce infection risk. The company highlighted the demand for such a device and anticipates a positive reception due to its features like a five-minute injection time and retractable needle mechanism. UDENYCA ONBODY is expected to be commercially available in Q1 2024.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 9:30 pm

CENN

Cenntro Electric Group Limited (CENN) has regained compliance with the Nasdaq's minimum bid price requirement. The company's stock had maintained a closing bid price of at least $1.00 per share for a minimum of ten consecutive business days, which is the threshold for compliance with Nasdaq's listing rule.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:30 pm

HUDA

Hudson Acquisition I Corp. has regained compliance with Nasdaq Listing Rule 5250(c)(1) according to a notice from the Nasdaq Stock Market's Listing Qualifications Department. This rule requires timely filing of periodic financial reports.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:16 pm

JNJ

LIAN

LianBio Development Limited and its affiliates have entered into an asset purchase agreement with Janssen Pharmaceutica NV, a unit of Johnson & Johnson. Under the agreement, LianBio will sell all of its rights and interests in products licensed to Janssen, as disclosed in an SEC filing on Dec 22.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:13 pm

AINC

Ashford Inc has received a letter of non-compliance from NYSE American according to a recent SEC filing. This notice could potentially affect the company's listing status if compliance is not restored.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:10 pm

TKLF

Yoshitsu Co., Ltd has received a notification from Nasdaq regarding a deficiency in meeting the minimum bid price requirement. The company's stock price has fallen below the $1 minimum bid price for 30 consecutive business days, which is against Nasdaq's listing rules. Yoshitsu now has a compliance period of 180 calendar days to regain compliance. If at any time during this period the bid price of Yoshitsu's stock closes at $1 or more for a minimum of 10 consecutive business days, Nasdaq will provide written confirmation of compliance and the matter will be closed.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:07 pm

SWVL

Swvl Holdings has received a notification from Nasdaq regarding non-compliance with the minimum bid price requirement. The company's stock has closed below the minimum $1 per share for 30 consecutive business days. Swvl now has a compliance period of 180 calendar days to regain compliance by maintaining a closing bid price of at least $1 per share for a minimum of 10 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:06 pm

CHRS

Coherus BioSciences' stock is trading higher following the announcement of FDA approval for UDENYCA ONBODY, a pegfilgrastim-cbqv product.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 9:06 pm