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Pro-XRP lawyer John Deaton expected Ripple's native token (XRP) to break $1 after a court ruling determined it is not considered security in certain circumstances. Despite a surge of over 75% in XRP following the ruling, it peaked at $0.84. The ruling was a significant development in the legal battle between Ripple and the SEC, which alleged that Ripple engaged in unregistered sales of XRP, considered by the agency to be a security. At the time of writing, XRP was trading at $0.61.

Portfolio Pulse from Mehab Qureshi

August 07, 2023 | 12:48 pm

JAGX

Jaguar Health, Inc. (NASDAQ:JAGX) announced positive results from an independent pilot phase 2 study of crofelemer for the management of neratinib-associated diarrhea in patients with HER2+ early-stage breast cancer. The study showed that crofelemer, Jaguar's FDA approved drug, may be effective for the management of neratinib-induced diarrhea. The results warrant further investigation of crofelemer for treatment of cancer therapy-related diarrhea (CTD). Top line results from the Company's ongoing phase 3 OnTarget clinical trial are expected in late October 2023.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:44 pm

MBRX

Moleculin Biotech, Inc. (NASDAQ:MBRX) has hired Shareholder Intelligence Services, LLC to investigate potential naked short selling of its stock. The analytics firm will provide data on share ownership, purchases, sales, and custody, as well as other information related to the company's public shareholders and market activity.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:43 pm

VAL

Valaris Limited (NYSE:VAL) and its subsidiary, Valaris Finance Company LLC, plan to offer an additional $350 million in aggregate principal amount of their 8.375% Senior Secured Second Lien Notes due 2030. The proceeds will be used to finance the purchase of drillships VALARIS DS-13 and VALARIS DS-14, and for general corporate purposes. The securities will be offered to qualified institutional buyers and persons outside the United States.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:39 pm

GRI

GRI Bio has presented preclinical data indicating that oral administration of GRI-0803 inhibited lupus nephritis and significantly improved overall survival in animal models. The company expects to commence Phase 1a/b SLE study in 1H 2024 with topline results expected 2H 2024.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:37 pm

GFGD

The Growth for Good Acquisition Corporation (NASDAQ:GFGD) has announced that its Registration Statement on Form S-4 for the business combination with Zero Nox Inc., a provider of sustainable, off-highway vehicle electrification, has been approved by the SEC. The business combination has been unanimously approved by the boards of both companies. Upon closing, the combined company will be named Zero Nox Inc. and will be listed on the NASDAQ under the ticker symbol 'ZNOX'. An extraordinary general meeting of shareholders is scheduled for August 23, 2023.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:35 pm

DYAI

Dyadic International, Inc. has announced the results from third-party analytical testing of the company's animal-free recombinant serum albumin. The results are expected to have a significant impact on the company's future operations.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:35 pm

SAGE

Sage Therapeutics has received a Complete Response Letter from the FDA regarding its New Drug Application for zuranolone, a treatment for adults with major depressive disorder. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 12:35 pm

RYTM

Rhythm Pharmaceuticals (NASDAQ:RYTM) has received pre-marketing early access authorization AP1 for its drug setmelanotide in France. The drug is intended for patients with hypothalamic obesity, a rare form of obesity caused by damage to the hypothalamic region of the brain. The AP1 allows for early access to innovative therapies prior to European regulatory approval. The drug has been available through a similar program for patients with Bardet-Biedl syndrome since July 2022.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:34 pm

IMNN

IMUNON, Inc. (NASDAQ:IMNN) has announced the availability of a manuscript on bioRxiv detailing the strong immunogenicity and protection offered by its PlaCCine DNA-based vaccines. The study used IMUNON's proprietary formulation against the spike proteins from two SARS-CoV-2 variants. The data shows that the vaccine is stable for up to one year at 4°C, induces spike-specific neutralizing antibodies and cytotoxic T cells, and can suppress viral replication. The company plans to commence a human clinical trial with PlaCCine in SARS-CoV-2 during the first quarter of 2024.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 12:33 pm