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SPY

Fed's Barkin has indicated that significant insights about the economy will be gained in the first half of the next year, suggesting a period of close observation and data analysis by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:42 pm

SPY

In a recent statement, Federal Reserve Bank of Richmond President Thomas Barkin expressed his view that inflation is more persistent than what the average Federal Reserve official believes. This suggests that the fight against inflation may be more prolonged, potentially influencing the Fed's monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:41 pm

SPY

Federal Reserve Bank of Richmond President Thomas Barkin stated that he is looking for 'conviction' that inflation is returning to the Fed's target. This comment suggests that the Fed's future policy decisions will be heavily influenced by inflation trends and their alignment with the target rate. Barkin's remarks are indicative of the Fed's ongoing focus on managing inflation without specific details on the measures to be taken.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:41 pm

BNTX

CVAC

EWG

CureVac N.V. announced that the German Federal Patent Court denied the validity of its patent EP 1 857 122 B1 after a nullity action by BioNTech SE. This decision does not impact other ongoing litigation in Germany involving seven other CureVac intellectual property rights. CureVac plans to appeal the decision at the German Federal Court of Justice. The company remains confident in its intellectual property portfolio and its contributions to mRNA COVID-19 vaccines. The scheduled ruling on infringement of the patent by BioNTech's Comirnaty is likely to be postponed.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:39 pm

LUNA

The Appellate Court in Montenegro has overturned a previous ruling on the extradition of Terra Labs co-founder Do Kwon, citing legal process issues and unclear reasoning. The case is sent back to the High Court for review. Kwon's detention is extended until mid-February as the U.S. and South Korea seek his extradition related to the 2022 TerraUSD collapse. The final decision lies with Montenegro's justice minister. Kwon faces legal challenges in South Korea and is under investigation by the U.S. SEC for alleged fraud.

Portfolio Pulse from Murtuza Merchant

December 19, 2023 | 2:30 pm

IGC

IGC Pharma, Inc. (NYSE:IGC) has received a patent in Mexico for its Alzheimer's treatment, 'Method and Composition for Treating CNS Disorder.' The company is conducting a Phase 2 trial for IGC-AD1, aimed at treating agitation in Alzheimer's patients. The patent is a key step towards potential commercialization in various jurisdictions, including the U.S. and Europe. Alzheimer's disease is a significant public health concern, with rising numbers and costs. IGC Pharma is developing multiple drug assets to address Alzheimer's-related agitation.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:29 pm

EIS

Israeli President Herzog has announced Israel's readiness for another humanitarian pause in Gaza to recover hostages, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:19 pm

COIN

Senator Elizabeth Warren has sent letters to Coinbase, the Blockchain Association, and Coin Center, questioning their hiring of former defense and national security officials. Warren is concerned about the crypto industry's use of these officials to gain legitimacy while opposing regulations aimed at preventing crypto from being used for terror financing. The industry defends its actions, stating that hiring experts is for bolstering legal compliance and innovation, and not to undermine bipartisan efforts in Congress.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:14 pm

SB

Safe Bulkers, Inc. has agreed to acquire a new Japanese Kamsarmax class dry-bulk vessel with a capacity of 82,000 dwt, to be delivered in the first half of 2026. The financial terms of the acquisition were not disclosed. The vessel will comply with the Phase 3 Energy Efficiency Design Index for GHG emissions reduction and NOx-Tier III emissions standards. It is a sister vessel to others in Safe Bulkers' orderbook, featuring advanced energy efficiency for reduced fuel consumption.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:08 pm

GOVX

GeoVax Labs, Inc. has expanded its License Agreement with the NIH to include Mpox and smallpox in its vaccine development program. The agreement allows the use of U.S. HHS materials and patents in combination with GeoVax's technology to create vaccines for COVID-19, Mpox, and smallpox. Financial details of the agreement were not revealed.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:05 pm