Streetbeat News

Regulatory

SPY

USO

Iran attempted to seize two oil tankers near the Strait of Hormuz, firing shots at one of them, according to the U.S. Navy. The Iranian naval vessels retreated after the U.S. Navy responded to distress signals. Iran has reportedly seized at least five commercial vessels in the last two years, many of which occurred near the Strait of Hormuz, a critical route for crude oil transportation. This incident escalates U.S.-Iranian tensions, which have been rising since the U.S. withdrew from Iran's 2015 nuclear agreement and reinstated sanctions.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:58 pm

SPY

The USA Redbook Year-over-Year (YoY) has increased to 0.7% from the previous 0.5%.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:57 pm

PALI

Palisade Bio, Inc. (NASDAQ:PALI) has completed patient enrollment in its dose optimization study of LB1148. The company expects to release topline data in Q3 2023. The study aims to generate pharmacokinetic and pharmacodynamic data across multiple doses in healthy adult volunteers and determine if a different dosing protocol might enhance the risk profile while providing efficacy for the development program.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:45 pm

CCCC

C4 Therapeutics announced that the FDA has cleared its investigational new drug application for CFT8919. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 12:39 pm

BTCUSD

ETHUSD

Two 17-year-olds from Hamilton, Ontario have been charged for stealing $4 million in cryptocurrency from a U.S. citizen by impersonating Coinbase Support. The cybercrime was uncovered in June 2023, leading to a joint investigation by Hamilton Police, the FBI, and the Secret Service Electronic Crimes Task Force. At the time of writing, Bitcoin (BTC) is trading at $30,818, down 0.70% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

July 05, 2023 | 12:38 pm

MP

MP Materials Corp (NYSE:MP) shares are trading higher following reports that China has imposed export restrictions on select rare earth metals, including gallium and germanium, used in semiconductor production, solar cells, and missiles. The restrictions, affecting over 35 other related metals and materials, will take effect from August 1. MP Materials, which produces specialty materials for advanced technologies, is currently expanding its manufacturing operations.

Portfolio Pulse from Adam Eckert

July 05, 2023 | 12:37 pm

GNPX

Genprex has been granted a Chinese patent for its REQORSA immunogene therapy in combination with PD-1 antibodies for cancer treatment. This expands the company's intellectual property rights and potentially opens up a new market for its product.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2023 | 12:36 pm

CLPR

Clipper Realty Inc. (NYSE:CLPR) has reached a 40-year regulatory agreement with the New York City Department of Housing Preservation and Development for its 2,500-unit Flatbush Gardens property. The agreement includes a full abatement of real estate taxes, maintenance of current rents, and a commitment to make capital improvements over a three-year period. The deal is expected to be accretive to the company's AFFO and FFO.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:33 pm

SRPT

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) has completed the sale of its Rare Pediatric Disease Priority Review Voucher (PRV) for $102 million. The PRV was awarded by the FDA following the approval of ELEVIDYS for the treatment of Duchenne muscular dystrophy. The proceeds from the sale will be invested into R&D efforts to support the development of more transformative therapies.

Portfolio Pulse from Happy Mohamed

July 05, 2023 | 12:32 pm

EFSH

IMPL

NCRA

VINE

Several stocks are experiencing significant pre-market movements. Nocera, Inc. (NCRA) surged 88.7% after announcing plans to acquire Zhe Jiang Xin Shui Hu Digital Information, Ltd. Impel Pharmaceuticals Inc. (IMPL) gained 30.7% after being granted a U.S. Patent for a Parkinson's disease treatment. iMedia Brands, Inc. (IMBI) rose 27.4% after receiving a second Nasdaq non-compliance notice. On the losing side, 1847 Holdings LLC (EFSH) fell 40.5% after pricing a public offering, and Fresh Vine Wine, Inc. (VINE) fell 21.9% after a significant jump on Monday.

Portfolio Pulse from Lisa Levin

July 05, 2023 | 12:22 pm