Streetbeat News

Regulatory

GSK

GlaxoSmithKline (GSK) has reached an agreement with the European Medicines Agency (EMA) to immediately discontinue the manufacturing of Integrilin, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 2:31 pm

SPY

Punchbowl Reporter Jake Sherman reports that Speaker Johnson will vote AGAINST expelling Mr. SantosNY.

Portfolio Pulse from Charles Gross

December 01, 2023 | 2:18 pm

APLS

Apellis Pharmaceuticals updated the USPI for SYFOVRE to include rare events of retinal vasculitis in patients treated with the drug. The estimated rate of these events is 0.01% per injection for the treatment of geographic atrophy secondary to age-related macular degeneration. This update was made in collaboration with the FDA and follows more than 120,000 injections administered as of November 18, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:51 pm

JFBR

NEXI

PATH

Neximmune (NEXI) shares surged 400% premarket after the company's board approved a plan for liquidation and dissolution on November 2. Jeffs' Brands (JFBR) stock jumped 143% following regulatory approvals in Spain and The Netherlands to commence sales. UiPath (PATH) shares increased by 18% after reporting better-than-expected Q3 financial results.

Portfolio Pulse from ryanfaloona@benzinga.com

December 01, 2023 | 1:44 pm

GMFI

Aetherium Acquisition Corp. (GMFI) has received a Staff Determination Letter from Nasdaq indicating potential delisting due to non-compliance with minimum market value and shareholder count requirements. The company failed to maintain the required $50 million market value and 400 shareholders. It also did not file Forms 10-Q for the periods ending March 31, June 30, and September 30, 2023. GMFI plans to appeal the decision and has taken steps to regain compliance, including transitioning accounting services and working with EF Hutton to increase shareholder count.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:33 pm

LGND

Palvella Therapeutics and Ligand Pharmaceuticals (NASDAQ:LGND) have expanded their strategic partnership to accelerate Phase 3 development of QTORIN rapamycin for Microcystic Lymphatic Malformations (Microcystic LMs). Palvella received a $5 million upfront payment from Ligand, which also increased its tiered royalty on worldwide sales of QTORIN rapamycin to 8.0–9.8%. Ligand has an option to acquire a single-digit royalty on future topical products from Palvella's QTORIN platform. QTORIN rapamycin has potential to be the first FDA-approved therapy for Microcystic LMs, with over 30,000 diagnosed patients in the U.S. The FDA granted Breakthrough Therapy Designation to the drug in November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:23 pm

AMAT

Applied Materials, Inc. has received validation from the Science Based Targets initiative (SBTi) for its science-based emissions reduction targets. The company has committed to reducing its absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 50% by fiscal year 2030, using fiscal year 2019 as the base year.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 12:41 pm

AAPL

GOOG

GOOGL

MSFT

Microsoft Corp. (MSFT) is planning to launch its own Xbox mobile gaming store to compete with Apple (AAPL) and Google (GOOG, GOOGL). The move follows the completion of the $69 billion Activision Blizzard acquisition. Microsoft Gaming CEO Phil Spencer is in talks with partners to launch the store, potentially in 2024, to offer more choices for game monetization on mobile devices. The European Union's Digital Markets Act, which scrutinizes app store practices and may force Apple to allow sideloading apps, could provide an opportunity for Microsoft's mobile gaming ambitions.

Portfolio Pulse from Rounak Jain

December 01, 2023 | 12:39 pm

CRM

DELL

PATH

QQQ

SPY

TSLA

ULTA

U.S. stocks are expected to start cautiously in December after a mixed close in November. Traders are watching Fed Chair Powell's speeches for rate outlook clues. Salesforce (CRM) shares surged 9% after quarterly results, influencing the Dow's advance. The S&P 500 and Nasdaq had their best month since July 2022. Futures are mixed, with SPY slightly up and QQQ down in premarket trading. Dell (DELL) shares fell post-earnings, while PagerDuty (PD), Ulta Beauty (ULTA), and UiPath (PATH) rose on earnings news. Tesla (TSLA) shares dropped after the Cybertruck event. Economic data and Fed speeches are in focus, with potential impacts on market volatility and direction.

Portfolio Pulse from Shanthi Rexaline

December 01, 2023 | 12:25 pm

FXI

SPY

VGK

China's Cabinet is reportedly studying measures to accelerate the integration of domestic and foreign trade, according to state media as cited by Reuters. This move could have implications for trade policies and economic relations.

Portfolio Pulse from Charles Gross

December 01, 2023 | 11:22 am