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AX

BNGO

INBX

LADX

RILY

The Bear Cave Newsletter has issued a report on Axos Financial (NYSE:AX), raising concerns about the company's culture, loan portfolio, and crypto ventures. Axos, previously known as Bank of Internet, has been criticized by short-sellers for various risks. The report details Axos's history of 'exception-based lending', its ties to high-interest small business lenders, and its relationship with B. Riley (NASDAQ:RILY), whose CEO recently sold stock to meet a margin call. Axos's auditing history is also questioned, with its current and past auditors having limited experience with public companies. The report suggests that Axos's business model may carry risks similar to those that led to the failure of NetBank in 2007.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:34 pm

FXI

SPY

White House spokesperson John Kirby stated that President Biden felt very positive about his discussions with China's President Xi Jinping. The details of the discussions were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:28 pm

JAZZ

Japanese policymakers approved a bill to legalize medical cannabis products like Epidiolex, owned by Jazz Pharmaceuticals (JAZZ), while maintaining strict restrictions on other marijuana uses. New York-based The CURE BRAND announced a partnership to introduce CBD products in Japan. South Africa's National Assembly passed a Cannabis Bill for private cultivation. In Australia, the AMA opposes a bill to legalize recreational cannabis, while a former police boss advocates for policy reform. Health Canada is urged to raise THC caps in edibles. Thailand seeks stricter cannabis rules.

Portfolio Pulse from Jelena Martinovic

November 16, 2023 | 3:11 pm

APLM

Apollomics Inc's partner in China, Avistone Biotechnology, received conditional approval from China's NMPA for vebreltinib to treat MET exon 14 skipping NSCLC. Apollomics is discussing an NDA with the FDA based on clinical trial data. NSCLC is a major cause of cancer deaths, with MET exon 14 mutations in 3-4% of cases. Apollomics holds rights outside China, Hong Kong, and Macau. APLM shares surged 44.8% to $1.26.

Portfolio Pulse from Vandana Singh

November 16, 2023 | 3:03 pm

MS

Morgan Stanley has filed for a mixed shelf offering according to an SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:58 pm

CRSP

VRTX

CRISPR Therapeutics AG (NASDAQ:CRSP) and Vertex Pharmaceuticals Inc (NASDAQ:VRTX) announced that the UK MHRA granted conditional marketing authorization for their CRISPR/Cas9 gene-edited therapy, CASGEVY, for sickle cell disease treatment. This marks the first regulatory authorization of a CRISPR-based therapy. CRISPR Therapeutics' stock rose 4.93% to $59 following the news.

Portfolio Pulse from Adam Eckert

November 16, 2023 | 2:24 pm

TEDU

Tarena International, Inc. has received approval to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. This change is expected to take effect at the opening of the market on November 17.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:08 pm

MULN

Mullen Automotive Inc. has announced that Randy Marion Automotive Group has obtained a North Carolina license to retail Mullen electric vehicles. This development is part of Mullen's expansion strategy to establish a retail network for its electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:06 pm

HALO

Halozyme Therapeutics, Inc. announced that argenx has received approval from the European Commission for VYVGART SC, a subcutaneous treatment for Generalized Myasthenia Gravis, which uses Halozyme's ENHANZE drug delivery technology.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 2:05 pm

BLK

BlackRock (NYSE:BLK) has filed an S-1 form with the SEC to launch a spot Ether ETF, leading to a 2% surge in Ether's price. The firm also registered 'iShares Ethereum Trust' in Delaware, indicating a growing focus on cryptocurrency. BlackRock's move could increase mainstream adoption and market stability for cryptocurrencies, as it follows a trend of positive market reactions to ETF-related news and a shift in CEO Larry Fink's stance from skepticism to support.

Portfolio Pulse from Murtuza Merchant

November 16, 2023 | 1:50 pm