Streetbeat News

Regulatory

CALT

TVTX

XBI

Swedish biopharma Calliditas Therapeutics AB (NASDAQ:CALT) is making progress in addressing rare kidney diseases with its lead drug, Tarpeyo. The drug has received accelerated FDA approval for treating IgA nephropathy, an autoimmune kidney disorder. Tarpeyo focuses on the origin of the disease and is delivered to the gut. The CEO of Calliditas, Renee Aguiar-Lucander, highlighted two key differentiators for Tarpeyo versus other approaches in chronic kidney disease treatment. The drug can stabilize kidney function and gives the freedom of not necessarily staying on it for the rest of a patient's life. The company is also close to profitability and has a healthy cash balance.

Portfolio Pulse from Shanthi Rexaline

September 08, 2023 | 12:42 pm

CRMD

CorMedix Inc. (NASDAQ:CRMD) has announced the publication of its Phase 3 LOCK IT-100 study results in the Clinical Journal of the American Society of Nephrology. The study demonstrated a significant 71% reduction in risk of developing Catheter Related Bloodstream Infections (CRBSIs) in subjects receiving hemodialysis via central venous catheter (CVC) using DefenCath, a catheter lock solution. The company is pursuing FDA approval of DefenCath, with a target action date of November 15, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:35 pm

BLK

FXI

China's Securities Regulator has held discussions with both domestic and overseas investors, including Temasek, Bridgewater, and BlackRock. The details of the discussions were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:19 pm

NDAQ

Nasdaq (NASDAQ:NDAQ) has received SEC approval to launch Dynamic Midpoint Extended Life Order (M-ELO), the first exchange Artificial Intelligence (AI) powered order type. The AI model applies over 140 factors and offers an average combined volume-weighted improvement of over 30% in testing. The new order type is expected to improve fill rates and reduce market impact. Nasdaq also implemented predictive AI in its US options markets this year to improve overall efficiency.

Portfolio Pulse from Benzinga Newsdesk

September 08, 2023 | 12:06 pm

CRLBF

CURLF

GTBIF

TCNNF

TLRY

Senate Banking Chair Sherrod Brown is optimistic about imminent banking reform for the cannabis industry. The Secure and Fair Enforcement (SAFE) Banking Act is expected to get a committee hearing in the next six months. The Department of Health and Human Services recommended that the DEA should reclassify cannabis from Schedule I to Schedule III status, which could exempt cannabis companies from IRS Code 280E and facilitate federal tax relief. Cannabis stocks rallied following the news.

Portfolio Pulse from Jelena Martinovic

September 08, 2023 | 12:06 pm

AMZN

CRM

GOOG

MSFT

Zoom Video Communications has engaged with regulators in the U.S., European Union, and other jurisdictions to express concerns regarding Microsoft's alleged anticompetitive behavior. The concerns revolve around Microsoft allegedly favoring its Teams videoconferencing software through price bundling and product design. Microsoft is already under scrutiny by the EU's competition watchdog, investigating whether the bundling of Teams with Microsoft 365 and Office 365 violates antitrust rules. This inquiry stemmed from a complaint made by Salesforce's Slack messaging platform three years ago.

Portfolio Pulse from Anusuya Lahiri

September 08, 2023 | 11:50 am

EADSY

SPR

Spirit AeroSystems has reportedly asked Boeing and Airbus to share a more significant portion of the financial strain brought about by inflation, deeming their contracts currently 'unsustainable.' In the first half of 2023, Spirit carried about $215 million in charges on the Boeing 787 Dreamliner and Airbus A220 and A350 programs due to wage inflation, parts shortages, and greater regulatory scrutiny. Spirit is finding the current situation financially unsustainable and is in talks with Boeing and Airbus to address these challenges.

Portfolio Pulse from Nabaparna Bhattacharya

September 08, 2023 | 11:30 am

AAPL

The Chinese government is planning to extend its ban on iPhones from government employees to those working in other state-run agencies and government-controlled organizations. This news comes after Apple Inc.'s shares fell by 2.9% on Thursday and are down 6.2% this week. Despite this, Wedbush Securities’ analyst Dan Ives believes the concerns are overblown, stating that the Chinese consumer continues to want iPhones.

Portfolio Pulse from Rounak Jain

September 08, 2023 | 11:16 am

BENF

CLVT

DOCN

GME

PHG

TMC

VIR

Several US stocks traded lower in Friday's pre-market session. DigitalOcean Holdings, Beneficient, Planet Labs, Vir Biotechnology, TMC the metals company, Clarivate, GameStop, and Koninklijke Philips all recorded losses. Planet Labs' drop followed downbeat Q2 results and a weak Q3 forecast. GameStop's decline comes amid reports of an SEC investigation into Ryan Cohen's trades in Bed Bath & Beyond stock.

Portfolio Pulse from Lisa Levin

September 08, 2023 | 10:39 am

GLD

SPY

On September 7, US markets ended mixed due to concerns about the Federal Reserve possibly maintaining high interest rates. The Dow Jones gained 0.17%, while the S&P 500 and Nasdaq dipped 0.32% and 0.89% respectively. Asian markets declined due to weak economic data from Japan and concerns about higher US interest rates. European markets also traded in red, with the STOXX 600, DAX, and CAC 40 all declining. Commodities gained, with crude oil, natural gas, gold, and silver all trading higher.

Portfolio Pulse from Akanksha Bakshi

September 08, 2023 | 10:29 am