Streetbeat News

Regulatory

RMED

Ra Medical Systems, Inc. (NYSE:RMED) has received notification of allowance for the first patent for its LockeT product, a vessel closing device. This is the first of six patent applications on file in the US and several foreign countries. The company expects the product to be successful in the market for assisting in the closure of percutaneous wound sites.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:47 pm

BABA

FXI

KWEB

MCHI

Alibaba Group Holding Limited (BABA) stock is trading lower in line with Chinese ETFs IShares China Large-Cap ETF (FXI), KraneShares Trust KraneShares CSI China Internet ETF (KWEB) and IShares MSCI China ETF (MCHI). This is due to the ongoing agitation in China's broader sector amid government transparency regarding reforms to boost the economy after the intense regulatory crackdown and pandemic restrictions. Alibaba recently reported a 14% YoY revenue growth to $32.29 billion, beating the consensus of $31.20 billion. However, the company acknowledged the AI chips crisis hampering its ambitions.

Portfolio Pulse from Anusuya Lahiri

August 14, 2023 | 12:47 pm

GOOG

ICAD

iCAD, Inc. (NASDAQ:ICAD) has expanded its agreement with Google Health to integrate Google's AI technology with iCAD's ProFound Breast Health Suite for 2D Mammography. The technology will be used as an independent reader for breast cancer screening worldwide upon regulatory approval. The integration aims to address the global shortage of radiologists and improve efficiency in mammography reading. In a study, Google's AI system outperformed human readers in mammography reading, reducing the workload of the second reader by 88%.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:36 pm

DWAC

Congresswoman Marjorie Taylor Greene's investment in Digital World Acquisition Corporation (NASDAQ:DWAC), the SPAC planning to merge with Trump Media & Technology Group, has significantly decreased in value. Greene bought between $15,001 and $50,000 worth of DWAC shares at an average price of $94.20 in October 2021. However, the SPAC's shares have fallen 45% over the past year due to setbacks and investigations delaying the merger. If the deal is not finalized by the deadline, the SPAC may have to liquidate shares at net asset value, closer to the $10 level.

Portfolio Pulse from Chris Katje

August 14, 2023 | 12:31 pm

SEEL

Seelos Therapeutics, Inc. (NASDAQ:SEEL) has provided a clinical update for Q2 2023. The company expects to release top-line data for its studies on SLS-002 for Acute Suicidal Ideation and Behavior in adults with Major Depressive Disorder in Q3 2023, and SLS-005 in ALS in Q4 2023. Seelos has also regained compliance with Nasdaq Listing Rule 5500(a)(2).

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:24 pm

PBLA

Panbela Therapeutics has announced the issuance of a new patent in Europe for claims of a novel process for the production of SBP-101. This development could potentially enhance the company's intellectual property portfolio and its competitive position in the market.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:16 pm

ICCM

Icecure Medical has submitted a regulatory filing to the FDA for its early-stage low risk breast cancer treatment for patients at high risk for surgery. The company is awaiting the FDA's response and is also working on increasing market awareness and reimbursement for ProSense procedures.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:13 pm

MGRM

Monogram Orthopaedics Inc. (NASDAQ:MGRM) has announced the completion of the Development Phase and the start of the Verification Phase for its next-generation autonomous surgical robotic system. The Verification Phase will involve rigorous testing and validation of the system. The company expects to complete this phase by November, in time for the shipping of its first commercialization units. Monogram has filed over 20 patent applications related to autonomous robotic execution and aims to be the first to utilize a robot-mounted sagittal saw. The company plans to start performing surgeries in 2024.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:13 pm

GE

GE HealthCare has received FDA clearance for its wireless monitoring solution, Portrait Mobile. The smartphone-sized device allows for continuous monitoring of vital signs, using wearable sensors with a wireless protocol. It introduces an innovative measurement technology to continuously capture respiration rate, a sensitive vital sign for early patient deterioration.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:06 pm

ZYNE

Trading of shares in Zynerba Pharmaceuticals has been halted pending an announcement of news.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 11:26 am