Streetbeat News

Regulatory

BAC

GSK

MA

Several entities including Bank of America (BAC), Mastercard (MA), the NRA, GlaxoSmithKline (GSK), and others are lobbying for cannabis banking reform under the Secure and Fair Enforcement Regulation (SAFER) Banking Act. The Act aims to provide legal cannabis businesses access to banks and financial institutions. The Act has passed in the Senate Banking Committee and is expected to move to the full Senate and then to the House.

Portfolio Pulse from Maureen Meehan

October 22, 2023 | 6:21 pm

EXEL

Exelixis, Inc. (NASDAQ:EXEL) announced results from a phase 3 trial of cabozantinib, which showed significant improvements in progression-free survival for patients with advanced pancreatic and extra-pancreatic neuroendocrine tumors. The company plans to discuss these results with the U.S. Food and Drug Administration.

Portfolio Pulse from Charles Gross

October 22, 2023 | 2:56 pm

ALPMY

SGEN

Seagen Inc. and Astellas Pharma Inc. announced positive results from the Phase 3 EV-302 clinical trial for PADCEV in combination with KEYTRUDA versus chemotherapy. The combination improved overall survival and progression-free survival in patients with previously untreated locally advanced or metastatic urothelial cancer. The risk of death was reduced by 53% and overall survival improved by more than 15 months compared to chemotherapy. These results will form the basis of global regulatory submissions.

Portfolio Pulse from Charles Gross

October 22, 2023 | 2:48 pm

AMGN

Amgen (NASDAQ:AMGN) announced data from the global Phase 3 CodeBreaK 300 trial evaluating two doses of LUMAKRAS in combination with Vectibix. Both doses demonstrated a statistically significant superiority in progression-free survival over the investigator's choice of therapy in patients with chemorefractory KRAS G12C-mutated metastatic colorectal cancer. The results were presented at the ESMO 2023 Congress and published in the New England Journal of Medicine.

Portfolio Pulse from Charles Gross

October 22, 2023 | 2:44 pm

MRK

Merck (NYSE:MRK) announced results from the Phase 3 KEYNOTE-A39 trial, conducted in collaboration with Seagen and Astellas, evaluating KEYTRUDA plus Padcev. The combination significantly prolonged overall survival by 53% compared to chemotherapy in patients with previously untreated locally advanced or metastatic urothelial carcinoma. The results were selected for presentation at the European Society for Medical Oncology Congress 2023.

Portfolio Pulse from Charles Gross

October 22, 2023 | 2:42 pm

JNJ

Janssen, a subsidiary of Johnson & Johnson, announced results from the final analysis of the Phase 3 MAGNITUDE study. The study showed that niraparib, combined with abiraterone acetate and given with prednisone, improved overall survival and time to symptomatic progression in patients with metastatic castration-resistant prostate cancer with BRCA alterations. The data was presented at the European Society for Medical Oncology 2023 Congress.

Portfolio Pulse from Charles Gross

October 22, 2023 | 2:36 pm

MSFT

PLTR

TSLA

This week in AI news, controversies and investor enthusiasm took center stage. Elon Musk accused Sam Altman of 'stealing' the internet, leading to a Twitter skirmish. AI stocks, including Palantir Technologies and C3.ai, have seen significant growth, but analysts favor one over the other. NYC Mayor Eric Adams has been using AI voice cloning software for multilingual phone calls. A study revealed that AI chatbots can deduce personal details from user inputs, raising privacy concerns. Microsoft CEO Satya Nadella called for philosophical guidance on AI due to fears of manipulation.

Portfolio Pulse from Benzinga Neuro

October 22, 2023 | 12:00 pm

AZN

AstraZeneca announced that its combination of datopotamab deruxtecan and Imfinzi showed robust and durable tumour responses in the first-line treatment of patients with metastatic triple-negative breast cancer in the BEGONIA Phase Ib/II trial. The combination demonstrated a confirmed objective response rate of 79% and no new safety signals were observed. The data will be presented at the European Society for Medical Oncology 2023 Congress.

Portfolio Pulse from Charles Gross

October 22, 2023 | 11:45 am

BUSDUSD

V

Binance (CRYPTO: BUSD) has announced that it will discontinue its Visa (NYSE:V) debit card in Europe, further reducing its presence in the region. Existing cardholders will have access until December 20. This comes after Visa and Mastercard ended their card partnerships with Binance due to legal issues. Binance is currently facing regulatory issues and changes in its portfolio and partnerships.

Portfolio Pulse from Khyathi Dalal

October 22, 2023 | 2:44 am

BTCUSD

Antoine Riard, an open-source Bitcoin and Lightning developer, has disclosed a series of security vulnerabilities in the Lightning Network, a scalability solution for Bitcoin. The vulnerabilities might necessitate foundational changes in Bitcoin's base layer. Riard has also decided to halt his involvement with the Lightning Network's development. The reasons behind his decision remain speculative, but some suggest that the disclosed vulnerabilities could be a major factor.

Portfolio Pulse from Murtuza Merchant

October 22, 2023 | 2:08 am