Streetbeat News

Regulatory

PTCT

PTC Therapeutics has submitted a briefing document for the re-examination of the CHMP's negative opinion on Translarna's renewal in Europe. In the US, PTC discussed with the FDA a potential path for resubmitting a New Drug Application for Translarna, with the FDA suggesting a follow-up meeting to align on contents that could support a potential NDA filing.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:19 pm

CANC

President Biden announced a $240 million investment to support cancer research through ARPA-H, as part of the Cancer Moonshot initiative. This funding aims to enhance cancer prevention, detection, treatment, and survival. The investment is expected to drive innovation and could benefit companies developing cancer treatments. The Tema Oncology ETF (CANC) is highlighted as a way for investors to engage in oncology-focused investments and potentially benefit from the initiative's progress.

Portfolio Pulse from Johnny Rice

December 05, 2023 | 9:17 pm

NBIX

Neurocrine Biosciences announced at its Analyst Day that it received FDA Breakthrough Therapy Designation for Crinecerfont in Congenital Adrenal Hyperplasia. The company also shared updates on its R&D portfolio, including plans to advance two gene therapies into the clinic by 2025 and expects to have at least 20 development candidates by 2027.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:04 pm

NVAX

Health Canada has expanded the authorization for Novavax's Nuvaxovid XBB.1.5 Vaccine (NVX-CoV2601) for individuals aged 12 and older to prevent COVID-19 caused by SARS-CoV-2.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:02 pm

IGMS

IGM Biosciences, Inc. (NASDAQ:IGMS) is prioritizing its clinical development on DR5 agonist for colorectal cancer and T cell engagers for autoimmune diseases. The company plans to file an IND for IGM-2644 to treat autoimmune diseases and is halting all hematologic oncology clinical development. This strategic refocus includes a workforce reduction of about 22% and is expected to extend the company's cash runway into Q2 2026. The company continues to collaborate with Sanofi on oncology and immunology product candidates.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 9:02 pm

BTCUSD

Deribit's data indicates a positive outlook for Bitcoin, with futures premiums suggesting a 10-12% price increase by spring 2024. The futures market's optimism is reflected in the widening gap between current and future prices. Bitcoin briefly surpassed $44,000, influenced by market optimism and expectations of a spot Bitcoin ETF approval. Factors such as the Binance settlement, geopolitical tensions, easing inflation, and growing institutional interest are contributing to the rally. Open interest in BTC options is nearing record highs, signaling strong market activity.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 8:35 pm

CVS

GDRX

GoodRx disclosed in an SEC filing that it offers discount card pricing agreements based on acquisition cost pricing at several major retail pharmacy partners, including CVS Pharmacy.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 8:31 pm

GDRX

GoodRX has stated in an SEC filing that the company is well positioned in a market that is evolving towards pharmacy reimbursement models which aim to bring greater transparency to prescription drug costs.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 8:31 pm

BTCUSD

Bitcoin (BTC) reached its highest level since April 2022, briefly surpassing $44,000. The surge is attributed to increased institutional interest and optimism for a potential spot ETF approval by the SEC. Additionally, expectations of Federal Reserve rate cuts in 2024, hinted by Fed Chair Jerome Powell, are contributing to the rally. Bitcoin is up over 4% in 24 hours and nearly 15% over the past week.

Portfolio Pulse from Adam Eckert

December 05, 2023 | 8:23 pm

COIN

Cryptocurrency companies have spent $18.96 million on lobbying US lawmakers as of the end of Q3 2023, surpassing last year's $16.1 million. Coinbase Global Inc (COIN) leads with $2.16 million spent. The sector is likely to set a new record in 2023. Increased lobbying follows lawsuits from the SEC, with Coinbase and Binance facing actions for not registering tokens. The industry seeks to influence legislation, with two major bills approved by a congressional committee. FTX, now bankrupt, was among the top spenders in 2022.

Portfolio Pulse from Khyathi Dalal

December 05, 2023 | 7:59 pm