Streetbeat News

Regulatory

BLUE

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

BLUE

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

BAC

BK

C

GS

JPM

MS

STT

WFC

During a Senate Banking Committee hearing, Sen. Raphael Warnock questioned eight Wall Street bank CEOs about their support for the SAFER Banking Act, which aims to provide legal and regulatory clarity for banks in the cannabis sector. Only Brian Moynihan of Bank of America showed tentative support. The CEOs were also asked about the Act's potential to reduce the racial wealth gap and their commitment to uphold the Community Reinvestment Act standards. All CEOs agreed to support the intent but sought more details.

Portfolio Pulse from Nina Zdinjak

December 08, 2023 | 5:18 pm

AAPL

Morgan Stanley analyst Erik Woodring upgraded Apple Inc's (NASDAQ:AAPL) price target from $210 to $220, maintaining an Overweight rating. The upgrade follows Apple's Q4 financial results and the iPhone 15 release. Woodring cites mitigated near-term risks, recovery in fundamentals, and potential in AI and services as reasons for the bullish outlook. Despite challenges, such as iPhone sales in China and regulatory risks, the long-term upside is seen in user monetization and new product launches like Vision Pro.

Portfolio Pulse from Chris Katje

December 08, 2023 | 5:06 pm

ARKB

FBTC

Fidelity has listed its Spot Bitcoin ETF, FBTC, on the DTCC, with the SEC closely monitoring the approval process. BlackRock's iShares spot Bitcoin ETF and Grayscale's application are also under SEC review, with a decision window from Jan. 5 to Jan. 10, 2024. The market anticipates approval, which could further boost Bitcoin prices. Fidelity also applied for a spot Ethereum ETF. Negative sentiments around Bitcoin were expressed by Senator Elizabeth Warren and JPMorgan CEO Jamie Dimon, citing its use in illegal activities.

Portfolio Pulse from Khyathi Dalal

December 08, 2023 | 4:50 pm

CRSP

VRTX

The U.S. FDA has approved Casgevy, the first CRISPR gene-editing treatment for sickle cell disease, co-developed by Vertex Pharmaceuticals and CRISPR Therapeutics. The treatment, which could cost around $2 million per patient, is expected to generate $1.2 billion in sales by 2028. Casgevy has been approved for patients 12 years and older and uses CRISPR to edit DNA to turn on fetal hemoglobin. The complex treatment process includes chemotherapy and a hospital recovery period, and will be limited to certain health facilities.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 4:29 pm

BTCUSD

USDTUSD

El Salvador has launched the 'Adopting El Salvador Freedom Visa Program' to attract investors by offering citizenship to those who invest $1 million in Bitcoin (BTC) or Tether (USDT). The program is capped at 1,000 participants per year and aims to inject $1 billion into the Salvadoran economy. The investment will fund social development projects and position El Salvador as a tech and financial innovation hub.

Portfolio Pulse from Murtuza Merchant

December 08, 2023 | 4:23 pm

SPY

USO

The U.S. has imposed sanctions on two Iranian intelligence officials for recruiting individuals to target current and former U.S. government officials. The sanctions were reported by Reuters, citing an official statement.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 3:39 pm

LYV

U.S. Senators have introduced the 'Fans First' bill aimed at reforming the live-event ticketing system to address transparency, regulation, and consumer protection issues. The bill seeks to prevent unfair and deceptive practices, such as the use of bots to purchase tickets in bulk, and to ensure that ticket fees are disclosed upfront. The legislation could impact companies involved in event ticketing, such as Live Nation Entertainment (LYV), by potentially imposing new regulations and compliance requirements.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 3:35 pm

MSTR

MicroStrategy (NASDAQ:MSTR) has applied to the SEC to launch a yield-bearing ETF called 'MSTY' using a 'synthetic covered call' strategy, set for release in 2024. The ETF will trade MSTR derivatives, allowing investors to earn yields without owning MSTR shares directly. YieldMax, the ETF firm, has similar products for other tech companies. Analyst Eric Balchunas predicts the ETF could set a record for highest yield. MSTR's stock has seen significant gains, with a 294% increase year-to-date, buoyed by its substantial Bitcoin holdings.

Portfolio Pulse from Khyathi Dalal

December 08, 2023 | 3:29 pm