Streetbeat News

Regulatory

MMAT

Meta Materials received a letter from Nasdaq on November 27, informing the company that Nasdaq has decided to delist its common stock from the Nasdaq Capital Market, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:36 pm

EWTX

Edgewise Therapeutics, Inc. (NASDAQ:EWTX) has received Orphan Drug Designation (ODD) and Rare Pediatric Disease Designation (RPDD) from the FDA for EDG-5506, a treatment for Duchenne and Becker muscular dystrophy. EDG-5506 is an investigational drug currently in Phase 2 trials. ODD and RPDD provide benefits such as market exclusivity, tax credits, and fee waivers, which support the development of rare disease treatments.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:11 pm

WLDS

Wearable Devices Ltd. has filed a U.S. patent for a touchless pinch-to-zoom interaction technology for augmented reality (AR) wearables. This technology allows users to adjust parameters using hand and wrist gestures without physical contact.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:11 pm

BIAF

bioAffinity Technologies, Inc. (NASDAQ:BIAF, BIAFW) announced CMS' final payment determination for CyPath Lung, a noninvasive lung cancer test, effective January 2024. This facilitates reimbursement by Medicare and private payers, aiding commercialization. The AMA issued CPT code 0406U for CyPath Lung in June 2023, with CMS finalizing payment in November 2023. CyPath Lung uses flow cytometry and AI for early-stage lung cancer detection, showing high sensitivity and specificity in clinical trials.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:11 pm

AZN

Presage Biosciences has partnered with AstraZeneca to use its CIVO technology for evaluating novel immuno-oncology drug combinations in head and neck cancer patients. This collaboration aims to advance AstraZeneca's portfolio of immuno-oncology agents. Earlier, Presage presented a study at SITC 2023 showing the effectiveness of CIVO in analyzing Merck's KEYTRUDA in patient tumors, highlighting the limitations of animal studies compared to the intact tumor microenvironment.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:05 pm

CBUS

Cibus, Inc. (NASDAQ:CBUS) has published a paper in the International Journal of Plant Biology detailing their advancements in gene editing for Brassica napus (canola). The company's Trait Machine™ System has significantly reduced the time required to develop new traits in plants, from up to 16 years to 3-5 years. This has been achieved through partnerships, including one with Bayer. The RTDS-based high throughput breeding system produces traits indistinguishable from those developed through conventional breeding, and under the European Commission's proposal, these traits may be considered 'conventional-like'.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 1:03 pm

GELYF

GELYY

Zeekr, the premium EV brand of Geely Automobile Holdings Ltd, has postponed its U.S. IPO due to market instability and valuation concerns. Despite the postponement, Zeekr has filed with the SEC and is continuing preparatory work. The company reported an increased operational loss in its recent filings and has delivered over 92,000 vehicles since the start of the year.

Portfolio Pulse from Anan Ashraf

November 30, 2023 | 1:02 pm

META

SNAP

Tech executives from Meta Platforms Inc. (META), TikTok, Snap Inc. (SNAP), X (formerly Twitter), and Discord will testify at a U.S. Senate hearing on Jan. 31 regarding online child sexual exploitation. The Senate Judiciary Committee, led by Senators Dick Durbin and Lindsey Graham, will question the CEOs about their companies' failures to protect children on their platforms. This follows various incidents, including Instagram's content suggestions, a lawsuit against Meta, and Musk's X reinstating a user who shared exploitative content.

Portfolio Pulse from Ananya Gairola

November 30, 2023 | 12:56 pm

GOOG

GOOGL

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) is planning to launch its online investment app in the U.K. in early 2024, offering 6,000 U.S. stocks and 24-hour trading. This marks Robinhood's third attempt at international expansion after previous setbacks. The company faced challenges in the U.S., including fines and scrutiny over its practices. Robinhood will not offer payment-for-order-flow in the U.K. and plans to generate revenue through other services. Ark Fintech Innovation ETF purchased Robinhood shares, while Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) sold all its remaining shares. HOOD shares were up 3.25% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 30, 2023 | 12:46 pm

CRM

HPE

NTNX

OKTA

PVH

QQQ

SNOW

SPY

VSCO

ZUO

Stock futures, including Nasdaq and S&P, are rallying as the market is set to finish November on a strong note. The direction of trading is expected to be influenced by the personal consumption expenditure index and OPEC+'s decision on oil output. Positive tech sector earnings have contributed to the upbeat sentiment. The market anticipates a potential Fed rate cut in 2024, with the first cut possibly in June 2024. In premarket trading, SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw gains. Several companies, including Nutanix, Inc. (NTNX), Okta, Inc. (OKTA), PVH Corp. (PVH), Salesforce, Inc. (CRM), Snowflake Inc. (SNOW), Zuora, Inc. (ZUO), and Victoria’s Secret & Co. (VSCO), reacted to earnings news. Hewlett Packard Enterprise Company (HPE) announced a partnership with Nvidia Corp. (NVDA). Other companies set to report earnings include Big Lots, Inc. (BIG), Cracker Barrel Old Country Store, Inc. (CBRL), The Kroger Co. (KR), Royal Bank of Canada (RY), The Toronto-Dominion Bank (TD), Ambarella, Inc. (AMBA), Dell Technologies Inc. (DELL), PagerDuty, Inc. (PD), Ulta Beauty, Inc. (ULTA), UiPath Inc. (PATH), and Zumiez Inc. (ZUMZ).

Portfolio Pulse from Shanthi Rexaline

November 30, 2023 | 12:41 pm