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ATHE

Alterity Therapeutics Ltd has filed for a mixed shelf of up to $50 million, according to a SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:48 pm

LLY

The FDA has declined to approve Eli Lilly's lebrikizumab biologic license application for the treatment of moderate-to-severe atopic dermatitis (eczema). The decision was based on findings from a third-party inspection of a contract manufacturing organization. The FDA had no concerns about the clinical data package, safety, or label for lebrikizumab. No other Lilly products are affected. LLY shares are down 0.77% in premarket trading.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:46 pm

NVTA

The FDA has granted de novo approval for Invitae Corporation's Common Hereditary Cancers Panel, a diagnostic test that can detect genetic variants associated with an elevated risk of developing certain cancers. The test, which is the first to be granted FDA marketing authorization, evaluates DNA from a blood sample to identify variants in 47 genes. Invitae tested over 9,000 clinical samples to validate the test's performance, achieving over 99.0% accuracy. The approval also creates a new regulatory classification, allowing future tests of the same type to use the FDA's 510(k) premarket process. Invitae's shares are up 13.70%.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 3:37 pm

SPY

Federal Reserve Chairman Jerome Powell stated that the economy is still transitioning through the other side of the pandemic. He did not provide specific details or timelines.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:37 pm

ASPA

LGIQ

DLQ, Inc., a subsidiary of Logiq, Inc. (OTCQX:LGIQ), has announced the effectiveness of its registration statement on Form S-4 in connection with its pending merger with ABRI SPAC I, Inc. (NASDAQ:ASPA). The merger is expected to close in Q4 2023, subject to approval by the stockholders of both companies and Nasdaq's approval of the combined company's listing application. The combined company is expected to be renamed 'Collective Audience, Inc.' and remain listed on the Nasdaq Global Market under the proposed ticker symbols 'CAUD' and 'CAUDW'.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:25 pm

NVO

Novo Nordisk has received FDA approval for Rivfloza, a treatment for primary hyperoxaluria type 1 (PH1), a rare genetic disease. The approval is based on the results of the phase 2 PHYOXTM2 clinical trial and interim data from the ongoing phase 3 PHYOXTM3 extension study. Rivfloza was developed by Dicerna Pharmaceuticals, which was acquired by Novo Nordisk in 2021. The company plans to make the treatment available for eligible patients in early 2024.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:16 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

JPM

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

October is historically the most volatile month for the stock market, and this year is expected to test the enthusiasm for AI stocks. The government shutdown has been averted until November 17, which initially led to aggressive buying by the momo crowd, but futures have since turned negative. The stock market is currently in the top support zone and is waiting for a trigger to move. The direction of the year-end chase will depend on upcoming earnings, momentum in AI stocks, new economic data, interest rates, and the November FOMC meeting. Money flows are positive in Apple, Amazon, Meta Platforms, Microsoft, and NVIDIA, but negative in Tesla and Alphabet. Money flows are mixed in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1. Bitcoin is surging due to a short squeeze.

Portfolio Pulse from The Arora Report

October 02, 2023 | 3:05 pm

SPY

Federal Reserve Chair Powell is participating in a community roundtable. The event is being live-streamed on YouTube.

Portfolio Pulse from Benzinga Newsdesk

October 02, 2023 | 3:04 pm

AZN

BMY

A U.S. District Judge has upheld a key initiative of President Joe Biden, allowing Medicare to negotiate prescription drug prices. The U.S. Chamber of Commerce had filed a lawsuit against this policy, arguing it infringes on constitutional rights and could hinder pharmaceutical innovation. However, AstraZeneca Plc (NASDAQ:AZN), Bristol Myers Squibb & Co (NYSE: BMY), and Boehringer Ingelheim have agreed to participate in the initial round of Medicare drug price negotiations.

Portfolio Pulse from Vandana Singh

October 02, 2023 | 2:54 pm

UBS

UBS Asset Management is launching its first live pilot program of a tokenized money market fund on Ethereum. The pilot is part of a broader industry initiative led by the Monetary Authority of Singapore, Project Guardian, which aims to bring different real-world assets on-chain and utilize blockchain technology to enhance market liquidity. The pilot will be used by UBS Asset Management for activities like fund subscriptions and redemptions. The project is part of UBS Asset Management’s global distributed ledger technology strategy.

Portfolio Pulse from Khyathi Dalal

October 02, 2023 | 2:36 pm