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Regulatory

SPY

Philadelphia Federal Reserve President Patrick Harker has advocated for holding interest rates steady, stating that the central bank has made substantial progress in controlling inflation without causing a surge in unemployment. Harker, a voting member of the rate-setting Federal Open Market Committee, believes that the current restrictive policy rates will continue to press down on inflation and bring markets into balance. Despite recent inflation rates remaining above the Fed's 2% annual target, Harker emphasized the need for patience and caution with the data.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:15 pm

PFE

The U.S. FDA has approved Pfizer's VELSIPITY for adults with moderately to severely active ulcerative colitis. The approval is based on favorable safety and efficacy data from the ELEVATE UC Phase 3 trials.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:05 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) has been granted a new European patent for its vehicle-to-grid (V2G) technology. The company's V2G patents include comprehensive solutions for the control of power flow to electric vehicles and the grid, management of EV charging, and calculation of available power capacity of aggregated EVs. Nuvve's V2G patent portfolio extends globally, with coverage across a wide array of European countries.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:46 pm

COIN

Coinbase Global Inc. (NASDAQ:COIN) has expressed concerns over a new tax proposal by the U.S. Internal Revenue Service (IRS) that seeks to define crypto brokers and guide them on tax compliance. Coinbase views the proposal as a threat to the cryptocurrency industry and an infringement on the privacy of U.S. citizens. The company has requested the IRS to amend the proposal, limiting compliance requirements to parties directly involved in digital asset transactions.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 12:42 pm

SNDL

SunStream Bancorp has announced a court order granting the sale of certain assets of Greenpeak Industries and affiliated entities, Skymint, to Skymint Acquisition Co., a designee entity of Tropics LP, fully owned by an affiliate of Sunstream and sponsored by SNDL Inc. The sale is part of Skymint's ongoing restructuring and is expected to close in Q1 2024, subject to regulatory approval. The assets include 21 retail leases with dispensaries that produced annualized sales of approximately $68 million in September 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:42 pm

NTLA

Intellia Therapeutics has received Priority Medicines designation from the European Medicines Agency for NTLA-2002, an investigational in vivo CRISPR genome editing treatment for Hereditary Angioedema.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:40 pm

DG

EH

JD

EHang has obtained a type certificate for its EH216-S Passenger-Carrying UAV System from the Civil Aviation Administration of China. Dollar General shares are trading higher after the company updated its financial guidance for FY23 and announced Todd Vasos as the new CEO. JD.com shares are trading lower due to rumors of an arrest of a businessman with the same surname as the company's chairman and multiple analysts downgrading the stock and lowering their price targets.

Portfolio Pulse from ryanfaloona@benzinga.com

October 13, 2023 | 12:39 pm

ADN

Advent Technologies Holdings, Inc. (NASDAQ:ADN) participated in the inaugural Clean Transition Dialogue on Hydrogen organized by the European Commission. The event focused on the role of the hydrogen sector in Europe's energy independence. Advent's CEO, Dr. Vasilis Gregoriou, briefed EU President Ursula von der Leyen on the progress of projects endorsed by the EU under the Important Project of Common European Interest (IPCEI) in hydrogen technology. He also discussed the delay in securing funding for Advent's EU-ratified Green HiPo project in Greece, which aims to develop, design, and produce HTPEM fuel cell systems and electrolyser systems.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:37 pm

TRVI

Trevi Therapeutics, Inc. (NASDAQ:TRVI) has announced the 52-week results from its phase 2b/3 PRISM open-label extension study of Haduvio for the treatment of prurigo nodularis. The data shows continued reduction in itch over 52 weeks for the participants who remained in the study. The safety data were generally consistent with the safety profile of Haduvio observed in the 14-week portion of PRISM and previous trials of Haduvio.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:37 pm

NKTR

Nektar Therapeutics (NASDAQ:NKTR) presented new data for rezpegaldesleukin (REZPEG), a first-in-class selective regulatory T-cell therapy, at the 2023 EADV Congress. The data showed dose-dependent efficacy across all endpoints for REZPEG in patients with atopic dermatitis. The therapy was well tolerated with no severe, serious, or fatal adverse events reported. Based on these results, Nektar is initiating two Phase 2 studies in atopic dermatitis and in alopecia areata.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:36 pm