Streetbeat News

Regulatory

AKTX

Akari Therapeutics (NASDAQ:AKTX) has announced a private placement of its equity securities with existing investors, including Chairman Dr. Ray Prudo and CEO Rachelle Jacques, expected to generate $2 million. The company also received a $2.5 million R&D tax credit from the UK. The private placement will involve the issuance of unregistered American Depository Shares (ADSs) at $3.30 per ADS. The closing is expected on September 22, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:22 pm

BIOC

Biocept, Inc. (NASDAQ:BIOC) has completed the enrollment of 40 subjects in the feasibility phase of its FORESEE clinical trial, which is evaluating the performance of Biocept's proprietary CNSide assay in monitoring the response to therapy of leptomeningeal metastases (LM). The company aims to establish CNSide as a standard of care under the National Comprehensive Cancer Network guidelines. The trial is designed to measure the impact of CNSide on physicians' clinical decisions. Biocept expects to have results from the feasibility phase of the trial in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:21 pm

PPBT

Purple Biotech Ltd. (NASDAQ/TASE: PPBT) will present new biomarker data for its Phase 1 study of CM24 in combination with Nivolumab in patients with advanced pancreatic cancer at the AACR Special Conference on September 28, 2023. The data will be shared via a press release after the poster presentation.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:21 pm

BABA

KWEB

MCHI

Alibaba's stock is trading lower, in line with the broader indexes iShares MSCI China ETF and KraneShares Trust KraneShares CSI China Internet ETF. This follows the Federal Reserve's hawkish pause in its tightening cycle, a weakening yuan, and China's housing market crisis. Alibaba recently announced plans to reorganize its businesses into six independently run entities.

Portfolio Pulse from Anusuya Lahiri

September 21, 2023 | 12:19 pm

EWU

The Bank of England has ended its streak of 14 consecutive interest rate hikes due to lower-than-expected inflation, according to CNBC. This could potentially impact the performance of the iShares MSCI United Kingdom ETF (EWU).

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:11 pm

ETNB

89bio, Inc. (NASDAQ:ETNB) has announced that the U.S. FDA has granted Breakthrough Therapy Designation (BTD) to pegozafermin, a treatment for nonalcoholic steatohepatitis (NASH). The designation is supported by positive data from the ENLIVEN Phase 2b trial of pegozafermin. The company plans to discuss the NASH Phase 3 program with regulatory agencies in the fourth quarter of 2023.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:10 pm

CBAY

CymaBay Therapeutics, Inc. (NASDAQ:CBAY) has initiated a Phase 3b/4 study, AFFIRM, to evaluate the effect of seladelpar on clinical outcomes in patients with cirrhosis due to primary biliary cholangitis (PBC). The study is designed to fulfill post-marketing requirements of the accelerated approval pathway for seladelpar. The study will enroll approximately 192 patients and will last for three years.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:08 pm

DARE

Daré Bioscience, Inc. (NASDAQ:DARE) will receive a payment of approximately $4.5 million as the latest installment under a grant agreement to advance the development of its investigational contraceptive DARE-LARC1. The total grant could reach up to $49 million. Daré received an initial $11.5 million payment in 2021 and aggregate payments of approximately $12.4 million in 2022. The company is also advancing the late-stage development of Ovaprene, a hormone-free monthly intravaginal contraceptive. Daré has a license agreement with Bayer for the development and commercialization of Ovaprene in the United States, if approved by the FDA.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:06 pm

BNGO

Bionano Genomics' (NASDAQ:BNGO) OEM partner Ecobono has received approval from China's National Medical Products Administration (NMPA) for Bionano's DNA isolation kits for optical genome mapping (OGM). This allows Ecobono to sell OGM reagents to independent clinical laboratories and Chinese hospitals. This is the third such approval for a Bionano OEM partner in China.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 12:04 pm

CRNX

NXGN

OBIO

TAK

The article identifies four overbought health care stocks: Orchestra BioMed Holdings, Inc. (OBIO), Crinetics Pharmaceuticals, Inc. (CRNX), Takeda Pharmaceutical Company Limited (TAK), and NextGen Healthcare, Inc. (NXGN). These stocks are considered overvalued and present an opportunity to go short. The companies have recent developments such as FDA approvals, public offerings, and acquisitions.

Portfolio Pulse from Lisa Levin

September 21, 2023 | 11:51 am