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Regulatory

SPY

USO

U.S. Secretary of State, Blinken, has stated that none of the $6 billion Iran fund has been accessed.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:42 pm

DXCM

Shares of DexCom, Inc. (NASDAQ:DXCM) are trading lower after the FDA announced the establishment of a Digital Health Advisory Committee. The committee, which aims to be fully operational by 2024, will focus on addressing the complexities of digital health technologies. This increased regulatory interest introduces uncertainty for companies like DexCom, potentially impacting their products, market access, and ability to innovate.

Portfolio Pulse from Henry Khederian

October 12, 2023 | 4:35 pm

PMVP

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) has announced updated Phase 1 results from its ongoing Phase 1/2 PYNNACLE clinical trial. The trial showed that PC14586 achieved efficacy in heavily pretreated patients across multiple tumor types and was well tolerated with a favorable safety profile. The company plans to initiate a registrational Phase 2 trial in early 2024.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:32 pm

EIS

SPY

U.S. Secretary of State Blinken is set to meet with the Jordanian King and Palestinian Authority President Abbas. He has stated that the U.S. will seek the immediate, unconditional release of hostages.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:28 pm

EIS

SPY

U.S. Secretary of State, Blinken, has met with families of Americans who were killed or taken hostage by Hamas in Israel. The U.S. is doing everything it can to secure the release of the hostages.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:26 pm

BTI

British American Tobacco (BAT) has expressed disappointment at the FDA's Marketing Denial Orders (MDOs) for Vuse Alto's Menthol and Mixed Berry products. The company plans to challenge the decision and seek a stay of enforcement. The FDA's decision was based on the absence of long-term consumer switching data for these products. BAT argues that this decision contradicts proven science and the FDA's goal of reducing the health effects of tobacco use. The company also expressed concern about the FDA allowing the proliferation of youth-appealing vapor products.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:23 pm

EDSA

Edesa Biotech, Inc. (NASDAQ:EDSA) has secured a $10 million revolving credit facility from its CEO and Founder, Dr. Par Nijhawan. This comes alongside a C$23 million commitment from the Government of Canada to support a pivotal Phase 3 clinical study of the company's therapeutic candidate, EB05. The credit facility will support the completion of the ARDS study and the development and commercialization of EB05.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:17 pm

EDSA

EWC

Edesa Biotech, Inc. (NASDAQ:EDSA) has secured a commitment of up to C$23 million from the Government of Canada for a pivotal Phase 3 clinical study of the company's first-in-class therapeutic candidate, EB05. The drug, which reduced mortality by 84% among critically ill patients with Acute Respiratory Distress Syndrome (ARDS) in a Phase 2 study, is designed to modulate the body's own immune response. The funding will be used towards study expenses and scale-up of commercial drug product if the development program is successful.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 4:16 pm

SPY

XLE

XLK

XLP

XLU

The US Consumer Price Index (CPI) rose by 3.7% YoY in September, surpassing the anticipated 3.6%. Despite this, economists largely believe that the Federal Reserve will maintain the current interest rates in November. The US dollar surged following the release of the CPI data, potentially breaking a six-day losing streak. Stocks headed lower, with the SPDR S&P 500 ETF Trust (SPY) trading slightly negative. The Energy Select Sector SPDR Fund (XLE) and the Technology Select Sector SPDR Fund (XLK) were up, while the Utilities Select Sector SPDR Fund (XLU) and the Consumer Staples Select Sector SPDR Fund (XLP) were down.

Portfolio Pulse from Piero Cingari

October 12, 2023 | 4:02 pm