Streetbeat News

Regulatory

ENVA

Enova International, Inc. (NYSE:ENVA) has settled with the CFPB for $15 million over consumer loan processing issues due to technical errors. The majority of issues were self-reported and have been addressed, with redress provided to affected customers. The settlement is not expected to materially impact Enova's operations. Enova has enhanced its payment processing and customer impact systems and discontinued its single payment payday loan product. The company remains focused on serving customers underserved by traditional banks.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:17 pm

LLY

NVO

Germany's BfArM is considering export restrictions on Novo Nordisk's Ozempic due to shortages. The drug, used for diabetes and weight loss, is in short supply, leading to temporary suspensions in Britain and Belgium. Export bans are in place in several EU countries, and BfArM urges prescribing GLP-1 receptor agonists only for diabetes. Novo Nordisk's stock (NVO) fell 0.96% in premarket trading.

Portfolio Pulse from Vandana Singh

November 15, 2023 | 2:17 pm

ZKIN

ZK International Group Co., Ltd. (ZKIN) has been granted a temporary exception by the Nasdaq Hearings Panel to regain compliance with the Bid Price Rule. The company has until January 19, 2024, to effect a reverse stock split and demonstrate a closing bid price of $1 or more for ten consecutive trading sessions. The exception period extends until January 31, 2024. ZKIN is committed to transparency and regulatory compliance during this process and values its stakeholder relationships.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:15 pm

JNJ

Ethicon, a Johnson & Johnson MedTech company, announced the approval of ETHIZIA Hemostatic Sealing Patch, designed to stop bleeding in surgeries. ETHIZIA is unique for being equally active on both sides and has shown to stop bleeding six times faster than the leading Fibrin Sealant Patch in clinical trials. It will launch in EMEA in Q1 2024, with plans for North America, APAC, and LATAM. Ethicon acquired GATT Technologies B.V. in May 2022, enhancing its portfolio with synthetic polymer technology for surgical bleeding and leak challenges.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:07 pm

INMB

INmune Bio Inc. (NASDAQ:INMB) has expanded its Phase II clinical trial for Alzheimer's Disease to Europe and received a $2.8M cash refund from an Australian R&D tax incentive. The trial, which is already enrolling patients in Australia, Canada, and the UK, has shown promising results in a prior Phase I trial with decreases in neuroinflammation and improvements in brain structure. The EU expansion is part of a strategy to prepare for a global Phase III trial. The Australian tax refund will be reinvested into the company's clinical programs.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 2:02 pm

BCCMY

BYDDF

XIACF

Xiaomi Corp. is entering the EV market with its first car, the Xiaomi SU7, set to begin mass production in December 2023. The EV will be produced by BAIC, feature two powertrain options, and use battery packs from BYD and CATL. The SU7 will have a top speed of 165MPH and include facial recognition and an active rear wing. Xiaomi's HyperOS will power the in-car system, and the series will include SU7, SU7 Pro, and SU7 Max, with deliveries starting in February 2024.

Portfolio Pulse from Rounak Jain

November 15, 2023 | 1:48 pm

KNTE

SLDB

SPRC

SciSparc's treatment shows positive impact on Alzheimer's agitation, causing its stock (SPRC) to surge by 106%. Foresite Capital Fund is considering an acquisition of all outstanding shares of Kinnate Biopharma (KNTE), leading to a 54% stock increase. Solid Biosciences (SLDB) sees a 47% rise after FDA clearance for its Duchenne muscular dystrophy gene therapy candidate.

Portfolio Pulse from ryanfaloona@benzinga.com

November 15, 2023 | 1:48 pm

MAXN

Maxeon Solar Technologies has filed a patent infringement lawsuit against Aiko Solar in Germany, alleging that Aiko has infringed on its patented solar cell technology. The legal action could potentially affect Maxeon's market position and enforce its intellectual property rights.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:35 pm

KZIA

Kazia Therapeutics Limited (KZIA) released an abstract for the PNOC022 clinical study, which will be presented at the Society of Neuro-Oncology 2023 Annual Meeting. The study shows promising results for paxalisib in treating Diffuse Midline Glioma (DMG), with a median overall survival of 16.5 months compared to the standard of care's 8-11 months. Paxalisib has received Rare Pediatric Disease Designation from the FDA, potentially leading to a priority review voucher.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 1:35 pm

CHTR

Charter Communications Inc. (NASDAQ:CHTR) has agreed to a $25M settlement with the SEC for violations related to stock buyback accounting controls. From 2017 to 2021, Charter used 'accordion' provisions in their buyback plans, allowing changes in buyback amounts and timing, which did not comply with SEC Rule 10b5-1. The SEC found Charter's actions resulted from inadequate internal accounting controls, violating Section 13(b)(2)(B) of the Exchange Act. Charter has accepted the cease-and-desist order and fine without admitting or denying the findings. The company's shares dropped 2.03% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

November 15, 2023 | 1:32 pm