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SPY

Federal Reserve Governor Christopher J. Waller emphasized that monetary policy should be the primary tool for managing the economy, rather than relying on potential productivity growth. Waller's comments suggest a continued focus on adjusting interest rates and other monetary levers to influence economic conditions, rather than assuming productivity gains will alleviate the need for such interventions.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 3:08 pm

SPY

Federal Reserve Governor Christopher J. Waller cautioned against relying solely on market tightening to achieve the Fed's objectives. He noted that the recent loosening of financial conditions should serve as a reminder to be careful about depending on market forces to do the Fed's job.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 3:07 pm

SPY

Federal Reserve Governor Christopher J. Waller expressed confidence that the Fed's current policy stance is well positioned to slow the economy and bring inflation back to the 2% target. However, he acknowledged uncertainty about whether the Fed has done enough to achieve these goals. Waller indicated that economic data over the next few months should provide clarity on the effectiveness of the Fed's actions.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 3:06 pm

MU

Micron Technology reported that increased expenses in Q1 are due to the timing of R&D expenses and asset sales. The company also noted progress in discussions with Chinese officials.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 3:03 pm

LTRN

Lantern Pharma has received Orphan Drug Designation from the FDA for its drug '(+)N-hydroxy-N-(methylacylfulvene)urea' aimed at treating Diffuse Large B-Cell Lymphoma/High-Grade B-Cell Lymphoma with MYC and BCL2 rearrangements. This status can provide certain benefits, including market exclusivity upon approval, assistance in clinical trial design, tax credits, and exemption from FDA application fees.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:50 pm

AZN

SNY

SPY

Senior U.S. administration officials have met with manufacturers to discuss plans for meeting the projected demand for RSV vaccines in the following year. The White House has released a statement detailing the outcomes of this meeting, which is part of proactive efforts to ensure sufficient supply of RSV vaccines to meet anticipated needs.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:40 pm

CG

CWEN

GDEV

LASR

LC

PDD

RNA

SWTX

PDD Holdings Inc. reported a significant year-on-year revenue growth of 94% in Q3 FY23, surpassing consensus estimates, with shares surging 18.6%. Avidity Biosciences, SpringWorks Therapeutics, and other companies also saw their stocks move higher. Avidity expanded its collaboration with Bristol Myers Squibb, SpringWorks received FDA approval for Ogsiveo, and other companies experienced various positive catalysts including upgrades, inclusion in indices, and favorable analyst coverage.

Portfolio Pulse from Lisa Levin

November 28, 2023 | 2:39 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has agreed to sell its GVB Biopharma hemp/cannabis operations to Specialty Acquisition Corporation for $2.25 million. The deal includes a $1 million payment at closing and a $1.25 million secured promissory note. The sale aims to reduce cash and operating demands, with 22nd Century expecting to lower operating expenses beyond the $15 million in annual cost savings already announced. The company will retain rights to insurance proceeds from a fire at its Grass Valley facility, with damages sought at approximately $9 million. The sale is set to close in early December 2023, pending customary conditions and financing for the buyer. 22nd Century is also exploring strategic alternatives for its tobacco assets, including its FDA-approved VLN reduced nicotine content products.

Portfolio Pulse from Nina Zdinjak

November 28, 2023 | 2:35 pm

NAOV

NanoVibronix, Inc. (NASDAQ:NAOV) has entered into a Research Agreement with the University of Michigan to conduct a Randomized Control Trial study of its UroShield device. The study aims to provide clinical evidence for an FDA application for permanent clearance. The trial will focus on nursing home residents to assess the device's impact on urinary tract infections, catheter blockages, pain, and quality of life. A pilot with 20 patients will precede the full study of over 300 patients, set to begin in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:33 pm

INVO

INVO Bioscience, Inc. (NASDAQ:INVO) has regained compliance with Nasdaq's minimum stockholders' equity requirement after previously failing to meet the standard. This was achieved through a share exchange agreement with Cytovia Therapeutics Holdings, Inc., which acquired 1,200,000 shares of INVO's Series B Preferred Stock in exchange for shares of NAYA Biosciences Inc. INVO's improved financial position, including a significant reduction in net loss and reduced operating costs, contributed to meeting Nasdaq's listing criteria. Additionally, INVO is in the process of merging with NAYA Biosciences in an all-stock transaction, pending certain conditions.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 2:32 pm