Streetbeat News

Regulatory

FLR

Fluor Corporation has entered into a settlement agreement with the Securities and Exchange Commission (SEC), agreeing to pay a civil penalty of $14.5 million. The settlement pertains to the company's accounting on two lump sum engineering, procurement, and construction contracts. Fluor neither admitted nor denied the SEC's findings.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 9:15 pm

GOOG

GOOGL

META

Alphabet Inc.'s Google is implementing a new policy requiring election advertisers to disclose the use of artificial intelligence (AI) tools in their ads. This policy, effective from mid-November, mandates that ads altered by generative AI must clearly state so. However, the policy does not apply to videos on YouTube or content on Meta Platforms Inc.'s Facebook and Instagram. The move is part of Google's efforts to enhance transparency and combat misinformation in political advertising.

Portfolio Pulse from Piero Cingari

September 06, 2023 | 9:11 pm

VRNOF

The Alabama Medical Cannabis Commission (AMCC) has acknowledged that its file size restrictions have caused issues for companies applying for medical cannabis licenses. The restrictions forced some companies to reduce the resolution of essential files, leading to a loss of critical details. However, AMCC allowed 17 applicants to submit their extensive attachments on USB drives. The AMCC has been sued by several companies, including Verano Holdings Corp., over its licensing process.

Portfolio Pulse from Jelena Martinovic

September 06, 2023 | 9:10 pm

BNTX

MRNA

NVAX

PFE

UK regulators have approved an updated COVID-19 vaccine by Pfizer and BioNTech that targets the Omicron XBB.1.5 subvariant. Moderna and Novavax have also created versions of their shots that target this variant. The U.S. plans to deploy all three vaccines in the fall season. Pfizer's updated vaccine elicited a strong antibody response in a preclinical study in mice with the highly mutated BA.2.86 subvariant of the coronavirus. Moderna's updated vaccine is expected to be effective against the BA.2.86 subvariant and is expected to be available by early October.

Portfolio Pulse from Upwallstreet

September 06, 2023 | 8:39 pm

JYNT

The Joint Corp. (NASDAQ:JYNT) plans to restate its previously issued financial statements for the year ending December 31, 2022. The restatement is related to the reacquisition of regional developer rights and transfer pricing adjustments for the company's variable interest entities.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:35 pm

VXRT

Vaxart, Inc. (NASDAQ:VXRT) has announced top-line data from the Phase 2 challenge study of its oral tablet monovalent norovirus vaccine candidate. The study met 5 of 6 primary endpoints, showing the vaccine to be safe and well tolerated with no serious adverse events. The vaccine led to a statistically significant reduction in infection rate and a substantial reduction in viral shedding. However, it did not achieve a statistically significant reduction in norovirus acute gastroenteritis.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:30 pm

CRVS

Corvus Pharmaceuticals, Inc. (NASDAQ:CRVS) has confirmed plans to initiate a Phase 3 clinical trial of soquelitinib, its ITK inhibitor product candidate, in relapsed peripheral T cell lymphoma (PTCL) in Q1 2024. The trial is designed to enroll 150 patients and will compare soquelitinib to standard of care chemotherapy. The company is recruiting U.S. and international investigators and anticipates participation from leading academic and private medical centers.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:29 pm

TCNNF

Kim Rivers, CEO of Trulieve Cannabis Corp (OTCQX:TCNNF), expressed optimism about the potential federal rescheduling of cannabis, which would remove it from the federal prohibited list. This change would significantly impact the cannabis industry, particularly in terms of tax implications. Trulieve has paid over $220 million in 280E-related taxes in the last 24 months. The rescheduling could provide relief from this burden, enabling further investment in growth opportunities. Rivers also emphasized the need for Congress to push forward with the SAFE Banking Act.

Portfolio Pulse from Joana Scopel

September 06, 2023 | 8:27 pm

PEPG

PepGen Inc. has received clearance from Health Canada to begin the FREEDOM-DM1 Phase 1 study of PGN-EDODM1 in patients with Myotonic Dystrophy Type 1. This marks a significant step in the company's efforts to develop treatments for this rare genetic disorder.

Portfolio Pulse from Benzinga Newsdesk

September 06, 2023 | 8:10 pm

KORE

KORE Group Holdings, Inc. (NYSE:KORE) has received a notice from the New York Stock Exchange (NYSE) for not complying with the continued listing standards. The average closing price of KORE's common stock was less than $1.00 per share over a consecutive 30 trading-day period. KORE intends to respond to the NYSE within ten business days and has a six-month period to regain compliance with the NYSE's minimum share price requirement.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 8:08 pm