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BIIB

Biogen has reported favorable trends for high-dose groups on multiple exploratory measures of cognition and function in a Phase 1b study. The study is of a Tau targeting drug that shows reduction of aggregated Tau pathology and favorable trends on clinical outcomes.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:54 pm

BIIB

Biogen Inc. (NASDAQ:BIIB) reported promising Phase 1b clinical data for its investigational antisense oligonucleotide (ASO) therapy, BIIB080, targeting tau in mild Alzheimer's disease. The data showed favorable trends on multiple exploratory endpoints of cognition and daily living activities. The study is the first to show a reduction of aggregated tau pathology and favorable trends on clinical outcomes with a tau targeting drug. Recruitment is underway for the Phase 2 CELIA study to further investigate clinical efficacy and safety.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:51 pm

GOOG

GOOGL

MSFT

The Frontier Model Forum, co-founded by OpenAI, Microsoft, Alphabet, and AI startup Anthropic, has appointed its first director, Chris Meserole, and plans to set up a $10M AI research fund. The forum, which focuses on 'frontier AI models', also plans to create an advisory board to guide its strategy. This comes as many countries are devising AI regulation and industry leaders are voicing concerns about the impact of such models on public safety.

Portfolio Pulse from Anusuya Lahiri

October 25, 2023 | 2:42 pm

BTCUSD

FTTUSD

SPY

Sam Bankman-Fried, the founder of FTX cryptocurrency exchange, is considering testifying in his criminal fraud trial. He is accused of stealing billions from FTX customers and using the funds for speculative venture investments, political donations, and repaying lenders to his hedge fund, Alameda Research. Bankman-Fried has pleaded not guilty, arguing that he never intended to defraud anyone.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:40 pm

HSY

Consumer Reports has urged Hershey's to remove heavy metals from its chocolate products. The advocacy group has raised concerns about the potential health risks associated with these substances.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 2:14 pm

Morgan Stanley (NYSE:MS) released a research note predicting the outcomes of the upcoming FOMC meeting and press conference. The bank expects the FOMC statement to acknowledge economic expansion and labor market strength, and to highlight the Israel-Hamas conflict's implications for the U.S. economy. Morgan Stanley also anticipates a softer guidance from September and no change in the Fed's balance sheet normalization plans. The bank does not foresee the U.S. economy entering a recession before H1 2025.

Portfolio Pulse from surbhi@benzinga.com

October 25, 2023 | 1:50 pm

SCU

Sculptor Capital Management has announced that it is uncertain when a consortium would be ready to execute a transaction, or if an agreement can be reached. As of October 24, the consortium's $13.50 proposal must be evaluated on a risk- and timing-adjusted basis, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:36 pm

RITM

SCU

Sculptor Capital Management Consortium has made a non-binding proposal to acquire a company at a price of $13.50 per share. However, the proposal is not considered superior to the Rithm transaction, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:35 pm

ADI

AMD

AMKR

ENPH

GFS

INTC

LHX

NXPI

QCOM

The Biden administration has selected 31 tech hubs across the U.S. as part of the CHIPS and Science Act, which appropriates $56 billion to renationalize strategically important parts of the semiconductor supply chain. The tech hubs, composed of private companies, local governments, universities, labor unions, and non-profits, will be able to compete for grants of up to $75 million to boost their research and production capacities. Among the top semiconductor makers in the U.S. are Intel Corp., L3Harris Technologies, Inc., Qualcomm Inc., Amkor Technology Inc., NXP Semiconductors USA, Inc., GlobalFoundries Inc., Enphase Energy, Advanced Micro Devices Inc., and Analog Devices, Inc.

Portfolio Pulse from Natan Ponieman

October 25, 2023 | 1:33 pm

ABAT

American Battery Technology Company (ABTC) (NASDAQ:ABAT) is advancing its commercial-scale hydrometallurgical battery recycling facility in Nevada. The facility, which has been designated as a regional 'innovation and technology hub' by the Biden Administration, has the capacity to process over 20,000 metric tonnes per year of battery feedstock materials. Strategic partnerships have been announced with BASF, Nanotech, and FedEx for sourcing and off-take of recycled products. The company's operations and commercial scale-up of this recycling facility is further de-risked by having been awarded several competitive grants from the U.S Department of Energy (DOE).

Portfolio Pulse from Benzinga Newsdesk

October 25, 2023 | 1:19 pm