Streetbeat News

Regulatory

JAZZ

Pharmaceutical company Verdemed has received five approvals from the Brazilian Health Regulatory Agency, making it the leader in authorized cannabis-based medications in Brazil. The company now offers products such as Canabidiol Verdemed, a counterpart to Jazz Pharmaceuticals' Epidiolex. Verdemed plans to double its product sales by the end of 2024 and is set to channel investments into research and development. The company has also initiated a new investment round to raise $3 million and plans to undertake an IPO on the Toronto Stock Exchange.

Portfolio Pulse from Javier Hasse

August 23, 2023 | 7:57 pm

EWJ

Japan's Chief Cabinet Secretary Matsuno has announced that recent missile launches pose a threat to regional security, not just Japan. A National Security Committee meeting will be convened soon.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:51 pm

USO

XLE

The Biden administration is in talks with Venezuela about potentially lifting sanctions in exchange for a commitment to hold fair elections in 2024. The sanctions have impacted Venezuela's oil sales, a country with the highest proven reserves of crude oil. The United States Oil Fund ETF (NYSE:USO) and the Energy Select Sector SPDR Fund (NYSE:XLE) fell 1.02% and 0.5% respectively.

Portfolio Pulse from Piero Cingari

August 23, 2023 | 7:49 pm

TRSSF

TSX:TSND

TerrAscend Corp. (TSX:TSND) (OTCQX:TRSSF) has raised $21 million in equity and senior unsecured convertible debentures and listed on the Toronto Stock Exchange, freeing it from U.S. regulatory constraints. The company's stock now trades under the ticker symbol 'TSND'. The listing has given TerrAscend access to more institutional capital and investors. Morgan Stanley has also removed all restrictions from the stock. TerrAscend's Q1 results reported a 42.8% YoY increase in revenue and a positive free cash flow of $5.9 million.

Portfolio Pulse from Jelena Martinovic

August 23, 2023 | 7:44 pm

EWJ

EWY

SPY

North Korea has reportedly launched what it claims to be a space launch vehicle towards the South, according to South Korea's military. This action could potentially escalate tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:14 pm

EWJ

EWY

SPY

The Japanese government has lifted the emergency warning for Okinawa Prefecture, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 7:12 pm

EWJ

The Japanese government has issued a J Alert, instructing residents of Okinawa to take cover indoors or underground. The iShares MSCI Japan ETF (EWJ) is mentioned in the article.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 6:57 pm

EWJ

SPY

The Japanese government has issued an emergency warning over the J-Alert broadcasting system, according to Reuters. The news may have implications for the iShares MSCI Japan ETF (EWJ) and the SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 6:56 pm

MULN

Mullen Automotive is currently assembling data on alleged unlawful trading practices in the company's stock. The company is expected to make an announcement in the coming days.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 6:39 pm

FULC

The FDA has lifted the clinical hold on Fulcrum Therapeutics Inc's (NASDAQ:FULC) Investigational New Drug (IND) application for FTX-6058, a potential treatment for sickle-cell disease. Following this, HC Wainwright upgraded the stock from Neutral to Buy with a price target of $14, up from $5. The analysts see an attractive risk/reward ratio for the stock moving forward. They are confident about positive developments from '6058, which could mitigate past setbacks linked to the FDA's hold. The management team has successfully redefined the '6058' program's target patient population, expanding the Total Addressable Market (TAM) and attracting new investor interest.

Portfolio Pulse from Vandana Singh

August 23, 2023 | 6:31 pm