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New York regulators approved six medical cannabis companies to begin adult-use sales on Dec. 29. The companies include Columbia Care, Curaleaf, Etain (owned by Riv Capital), NYCANNA (owned by Acreage Holdings), PharmaCann, and Valley Agriceuticals (owned by Cresco Labs). They can set up recreational sales at up to three of their existing medical dispensaries, but currently, each is approved for one. Four other companies are eligible to apply for the recreational market, and Citiva (owned by iAnthus Capital) and Fiorello (owned by Green Thumb Industries) were approved for new medical-only dispensaries.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 7:02 pm

ETHUSD

Ethereum developers are preparing for the Dencun fork of the Goerli testnet, set for January 2024. The fork aims to improve scalability, security, and usability of the Ethereum network. The All Core Devs Execution (ACDE) meeting confirmed teams are ready for the testnet fork test. A Goerli shadow network fork will occur in the coming weeks to gather data and optimize the Dencun fork. This represents a significant step in Ethereum's continuous development and commitment to innovation.

Portfolio Pulse from Murtuza Merchant

December 08, 2023 | 7:01 pm

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The Israel Ministry of Health has postponed the implementation of medical cannabis regulatory reform by three months due to the Israel-Hamas war. The reform, which aims to ease restrictions and improve patient access, is expected to boost Israel's medical cannabis exports. IM Cannabis Corp. (NASDAQ:IMCC), the first Israeli cannabis company on NASDAQ, remains optimistic about the reform's future impact. Meanwhile, Israel has seen a surge in medical cannabis patients, particularly post-war, with a record increase in November 2023.

Portfolio Pulse from Jelena Martinovic

December 08, 2023 | 6:47 pm

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The FDA has approved two gene-editing cell therapies for sickle cell disease, Casgevy and Lyfgenia, for patients 12 years and older. Casgevy, developed by Vertex Pharmaceuticals and CRISPR Therapeutics, uses CRISPR/Cas9 technology and has also been conditionally approved in the U.K. for sickle cell disease and beta-thalassemia. Bluebird Bio's Lyfgenia uses a lentiviral vector for genetic modification and has received FDA approval ahead of its PDUFA date. However, shares of CRISPR Therapeutics, Vertex Pharmaceuticals, and Bluebird Bio fell after the announcement.

Portfolio Pulse from Vandana Singh

December 08, 2023 | 6:35 pm

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Canopy Growth Corporation (NASDAQ:CGC) stock has risen over 20% in the past five days and nearly 30% over the past month. The increase is attributed to the positive momentum and the recent launch of a CBD gummies line in collaboration with Martha Stewart. Additionally, potential legislative changes by Republican Representative David Joyce to remove state-legal marijuana from the Schedule I drug list could be influencing the stock's performance. CGC is currently trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

December 08, 2023 | 6:21 pm

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Bluebird Bio announced the commercial launch of LYFGENIA gene therapy for sickle cell disease patients aged 12+ with a history of vaso-occlusive events. The therapy is priced at $3.1M and will be available through a network of Qualified Treatment Centers in Q1 2024. Bluebird offers outcomes-based contracts to payers and a patient support program. Clinical data shows LYFGENIA may be curative, reducing healthcare costs and improving life quality. Discussions are ongoing with major payers and Medicaid agencies, with 27 centers ready for patient referrals.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 6:04 pm

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On Thursday, 10,562.66 Ether (ETH) valued at approximately $24.8 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -13.39% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

December 08, 2023 | 6:00 pm

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Vertex Pharmaceuticals and CRISPR Therapeutics announced FDA approval of CASGEVY, a CRISPR-based gene-editing therapy for sickle cell disease (SCD) in patients 12+ with severe symptoms. This marks the first U.S. approval of a CRISPR therapy, potentially benefiting 16,000 patients. Vertex will make a $200 million milestone payment to CRISPR and handle global development, manufacturing, and commercialization of CASGEVY, recording 100% of revenues and costs, and sharing net profits or losses with CRISPR. CASGEVY is also under review in Europe and Saudi Arabia, and a PDUFA date for TDT treatment in the U.S. is set for March 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:54 pm

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Bluebird Bio has issued a boxed warning for LYFGENIA, indicating that hematologic malignancy has occurred in patients treated with the drug. Patients are advised to monitor for evidence of malignancy with complete blood counts every 6 months and through integration site analysis.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:45 pm

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Bluebird Bio, Inc. (NASDAQ:BLUE) announced FDA approval of LYFGENIA for sickle cell disease treatment in patients 12+ with a history of vaso-occlusive events. LYFGENIA, a one-time gene therapy, aims to resolve these events and treat the disease's underlying cause. The approval is based on data from the HGB-206 study, with 94% of evaluable patients experiencing resolved severe VOEs. Bluebird plans to make LYFGENIA available in early 2024 through its Qualified Treatment Centers. The company will host a conference call to discuss the approval.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 5:36 pm